NBER Working Papers

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8225: Inflation Targeting and the Liquidity Trap

Bennett McCallum

8224: Financial Safety Nets: Reconstructing and Modeling a Policymaking Metaphor

Edward Kane

8223: Taxation and Portfolio Structure: Issues and Implications

James Poterba

8222: Culture, Openness, and Finance

René Stulz and Rohan Williamson

8221: Valuation Ratios and the Long-Run Stock Market Outlook: An Update

John Campbell and Robert Shiller

8220: Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s

Bengt Holmstrom and Steven Kaplan

8219: The Perverse Effects of Partial Labor Market Reform: Fixed Duration Contracts in France

Olivier Blanchard and Augustin Landier

8218: European Inflation Dynamics

Jordi Galí, Mark Gertler and David Lopez-Salido

8217: The International Macroeconomics of Taxation and the Case Against European Tax Harmonization

Enrique Mendoza

8216: The Silent Majority Fallacy of the Elzinga-Hogarty Criteria: A Critique and New Approach to Analyzing Hospital Mergers

Cory S. Capps, David Dranove, Shane Greenstein and Mark Satterthwaite

8215: The Effects of Race and Sex Discrimination Laws

David Neumark and Wendy A. Stock

8214: Do Political Institutions Shape Economic Policy?

Torsten Persson

8213: Estimating the Customer-Level Demand for Electricity Under Real-Time Market Prices

Robert Patrick and Frank A. Wolak

8212: An Empirical Analysis of the Impact of Hedge Contracts on Bidding Behavior

Frank A. Wolak

8211: Does Entry Regulation Hinder Job Creation? Evidence from the French Retail Industry

Marianne Bertrand and Francis Kramarz

8210: Do Cognitive Test Scores Explain Higher US Wage Inequality?

Francine Blau and Lawrence Kahn

8209: When Is U.S. Bank Lending to Emerging Markets Volatile?

Linda Goldberg

8208: Housing Programs for Low-Income Households

Edgar Olsen

8207: Stock Return Predictability: Is it There?

Andrew Ang and Geert Bekaert

8206: Educational Inequality

Yoshiaki Azuma and Herschel Grossman

8205: Rethinking the Estate and Gift Tax: Overview

William Gale and Joel Slemrod

8204: What We Spend and What We Get: Public and Private Provision of Crime Prevention

Ann Dryden Witte and Robert Witt

8203: Taxation and Corporate Financial Policy

Alan Auerbach

8202: Venture Capitalists As Principals: Contracting, Screening, and Monitoring

Steven Kaplan and Per Stromberg

8201: Hospital Governance, Performance Objectives, and Organizational Form

Leslie Eldenburg, Benjamin Hermalin, Michael Weisbach and Marta Wosinska

8200: Understanding International Differences in the Gender Pay Gap

Francine Blau and Lawrence Kahn

8199: Child Support: Interaction Between Private and Public Transfers

Robert Lerman and Elaine Sorensen

8198: Inequality and Happiness: Are Europeans and Americans Different?

Alberto Alesina, Rafael Di Tella and Robert MacCulloch

8197: An Empirical Investigation of the Competitive Effects of Domestic Airline Alliances

Gustavo E. Bamberger, Dennis Carlton and Lynette R. Neumann

8196: Integrating Expenditure and Tax Decisions: The Marginal Cost of Funds and the Marginal Benefit of Projects

Joel Slemrod and Shlomo Yitzhaki

8195: The Comovements between Real Activity and Prices in the G7

Wouter J. Den Haan and Steven Sumner

8194: Are Trade Linkages Important Determinants of Country Vulnerability to Crises?

Kristin Forbes

8193: Home Bias in Portfolios and Taxation of Asset Income

Roger Gordon and Vitor Gaspar

8192: The Life Cycle of US Economic Expansions

Edward Leamer

8191: Identification and Estimation of Cost Functions Using Observed Bid Data: An Application to Electricity Markets

Frank A. Wolak

8190: Mental Accounting, Loss Aversion, and Individual Stock Returns

Nicholas Barberis and Ming Huang

8189: Expenditure Competition

Roger Gordon and John Wilson

8188: Terms of Trade Shocks and Economic Performance 1870-1940: Prebisch and Singer Revisited

Yael Hadass and Jeffrey Williamson

8187: Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises

Shang-Jin Wei and Yi Wu

8186: After Columbus: Explaining the Global Trade Boom 1500-1800

Kevin O'Rourke and Jeffrey Williamson

8185: What can the take-up of other programs teach us about how to improve take-up of health insurance programs?

Dahlia K. Remler, Jason E. Rachlin and Sherry A. Glied

8184: A Case for Quantity Regulation

Edward Glaeser and Andrei Shleifer

8183: Public Versus Secret Reserve Prices in eBay Auctions: Results from a Pokemon Field Experiment

Rama Katkar and David Reiley

8182: Exhuming Q: Market Power vs. Capital Market Imperfections

Russell Cooper and João Ejarque

8181: Taxation and Economic Efficiency

Alan Auerbach and James Hines

8180: Forecasting Output and Inflation: The Role of Asset Prices

James Stock and Mark Watson

8179: International Franchising: Evidence from US and Canadian Franchisors in Mexico

Francine Lafontaine and Joanne Oxley

8178: The Great Reversals: The Politics of Financial Development in the 20th Century

Raghuram Rajan and Luigi Zingales

8177: The Influence of the Financial Revolution on the Nature of Firms

Raghuram Rajan and Luigi Zingales

8176: High-Frequency Substitution and the Measurement of Price Indexes

Robert Feenstra and Matthew Shapiro

8175: Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices

Bennett McCallum and Edward Nelson

8174: Monetary Policy Analysis in Models Without Money

Bennett McCallum

8173: Hedge Funds With Style

Stephen Brown and William Goetzmann

8172: The Declining U.S. Equity Premium

Ravi Jagannathan, Ellen McGrattan and Anna Scherbina

8171: Country Risk and Capital Flow Reversals

Assaf Razin and Efraim Sadka

8170: Life-Cycle Saving, Limits on Contributions to DC Pension Plans, and Lifetime Tax Benefits

Jagadeesh Gokhale, Laurence Kotlikoff and Mark J. Warshawsky

8169: How Reasonable Are Assumptions Used in Theoretical Models?: Computational Evidence on the Likelihood of Trade Pattern Changes

Lisandro Abrego, Raymond Riezman and John Whalley

8168: Medical Care Price Indices: Problems and Opportunities / The Chung-Hua Lectures

Joseph Newhouse

8167: Expectation Puzzles, Time-varying Risk Premia, and Dynamic Models of the Term Structure

Qiang Dai and Kenneth Singleton

8166: Vintage Organization Capital

Boyan Jovanovic and Peter Rousseau

8165: The Spatial Distribution of Housing-Related Tax Benefits in the United States

Todd Sinai and Joseph Gyourko

8164: Protection of Minority Shareholder Interests, Cross-listings in the United States, and Subsequent Equity Offerings

William A. Reese, Jr. and Michael Weisbach

8163: Generational Policy

Laurence Kotlikoff

8162: High- and Low-Frequency Exchange Rate Volatility Dynamics: Range-Based Estimation of Stochastic Volatility Models

Sassan Alizadeh, Michael W. Brandt and Francis Diebold

8161: Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature

Benjamin Hermalin and Michael Weisbach

8160: Modeling and Forecasting Realized Volatility

Torben Andersen, Tim Bollerslev, Francis Diebold and Paul Labys

8159: Aggregate Implications of Indivisible Labor

Casey Mulligan

8158: Dying to Save Taxes: Evidence from Estate Tax Returns on the Death Elasticity

Wojciech Kopczuk and Joel Slemrod

8157: A Quantitative Analysis of Pricing Behavior in California's Wholesale Electricity Market During Summer 2000

Paul Joskow and Edward Kahn

8156: Improving School Accountability Measures

Thomas J. Kane and Doug Staiger

8155: The Rising Tide Lifts...?

Richard Freeman

8154: Electoral Rules and Corruption

Torsten Persson, Guido Tabellini and Francesco Trebbi

8153: The Effects of Time Limits and Other Policy Changes on Welfare Use, Work, and Income Among Female-Headed Families

Jeffrey Grogger

8152: Age Discrimination Legislation in the United States

David Neumark

8151: Breadth of Ownership and Stock Returns

Joseph Chen, Harrison Hong and Jeremy Stein

8150: The Geography and Channels of Diffusion at the World's Technology Frontier

Wolfgang Keller

8149: Population Growth, Technological Adoption and Economic Outcomes: A Theory of Cross-Country Differences for the Information Era

Paul Beaudry and David Green

8148: A New Approach to Takeover Law and Regulatory Competition

Lucian Bebchuk and Allen Ferrell

8147: The Benefits and Costs of Newer Drugs: Evidence from the 1996 Medical Expenditure Panel Survey

Frank Lichtenberg

8146: How to Auction an Essential Facility When Underhand Integration is Possible

Eduardo Engel, Ronald Fischer and Alexander Galetovic

8145: Rules, Communication and Collusion: Narrative Evidence from the Sugar Institute Case

David Genesove and Wallace P. Mullin

8144: Repatriation Taxes, Repatriation Strategies and Multinational Financial Policy

Rosanne Altshuler and Harry Grubert

8143: Loss Aversion and Seller Behavior: Evidence from the Housing Market

David Genesove and Christopher Mayer

8142: Did the Malaysian Capital Controls Work?

Ethan Kaplan and Dani Rodrik

8141: International Liquidity Illusion: On the Risks of Sterilization

Ricardo Caballero and Arvind Krishnamurthy

8140: Does Inequality in Skills Explain Inequality in Earnings Across Advanced Countries?

Dan Devroye and Richard Freeman

8139: How Severe is the Time Inconsistency Problem in Monetary Policy?

Stefania Albanesi, Varadarajan Chari and Lawrence Christiano

8138: Perfect Taxation with Imperfect Competition

Alan Auerbach and James Hines

8137: Exchange Rates and Wages

Linda Goldberg and Joseph Tracy

8136: The Real Balance Effect

Peter Ireland

8135: Asymptotic Methods for Asset Market Equilibrium Analysis

Kenneth Judd and Sy-Ming Guu

8134: Breast Cancer Survival, Work, and Earnings

Cathy J. Bradley, Heather Bednarek and David Neumark

8133: Are For-Profit Hospitals Really Different? Medicare Upcoding and Market Structure

Elaine Silverman and Jonathan Skinner

8132: An Exploration of the Effects of Pessimism and Doubt on Asset Returns

Andrew Abel

8131: Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?

Andrew Abel

8130: Cross-Country Technology Diffusion: The Case of Computers

Francesco Caselli and Wilbur Coleman

8129: Trade and Exposure

Kathryn Dominguez and Linda Tesar

8128: A Re-Examination of Exchange Rate Exposure

Kathryn Dominguez and Linda Tesar

8127: Variable Selection for Portfolio Choice

Yacine Ait-Sahalia and Michael W. Brandt

8126: Antitrust and the Not-For-Profit Sector

Tomas Philipson and Richard Posner