NBER Working Papers

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7625: Trading Volume: Definitions, Data Analysis, and Implications of Portfolio Theory

Andrew Lo and Jiang W. Wang

7624: Can Subsidies for MARs be Procompetitive?

Kala Krishna, Suddhasatwa Roy and Marie Thursby

7623: Outward FDI and Parent Exports and Employment: Japan, the United States, and Sweden

Robert Lipsey, Eric Ramstetter and Magnus Blomstrom

7622: Pricing Upward-Only Adjusting Leases

Brent Ambrose, Patric Hendershott and Malgorzata M. Klosek

7621: The Determinants of Trust

Alberto Alesina and Eliana La Ferrara

7620: Government Ownership of Banks

Rafael La Porta, Florencio Lopezde-Silanes and Andrei Shleifer

7619: Horatio Alger Meets the Mobility Tables

Douglas Holtz-Eakin, Harvey Rosen and Robert Weathers

7618: Inflation Targeting in Emerging Market Countries

Frederic Mishkin

7617: Monetary Policy Strategies for Latin America

Frederic Mishkin and Miguel A. Savastano

7616: Federalism with and without Political Centralization: China versus Russia

Olivier Blanchard and Andrei Shleifer

7615: Covariance Risk, Mispricing, and the Cross Section of Security Returns

Kent Daniel, David Hirshleifer and Avanidhar Subrahmanyam

7614: Using Options to Divide Value in Corporate Bankruptcy

Lucian Bebchuk

7613: Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation

Andrew Lo, Harry Mamaysky and Jiang Wang

7612: The Influence of Federal Laboratory R&D on Industrial Research

James Adams, Eric Chiang and Jeffrey L. Jensen

7611: Low Wage Services: Interpreting the US - German Difference

Richard Freeman and Ronald Schettkat

7610: Skill Compression, Wage Differentials and Employment: Germany vs. the US

Richard Freeman and Ronald Schettkat

7609: Expectations Hypotheses Tests

Geert Bekaert and Robert Hodrick

7608: From Mill Town to Board Room: The Rise of Women's Paid Labor

Dora Costa

7607: Designing Stabilization Policy in a Monetary Union

Russell Cooper and Hubert Kempf

7606: Do Living Wage Ordinances Reduce Urban Poverty?

David Neumark and Scott Adams

7605: Long-Term Declines in Disability Among Older Men: Medical Care, Public Health, and Occupational Change

Dora Costa

7604: Do CEOs Set Their Own Pay? The Ones Without Principals Do

Marianne Bertrand and Sendhil Mullainathan

7603: Local Revenue Hills: A General Equilibrium Specification with Evidence from Four U.S. Cities

Andrew Haughwout, Robert Inman, Steven Craig and Thomas Luce

7602: Cornucopia: The Pace of Economic Growth in the Twentieth Century

James DeLong

7601: The Sexual Activity and Birth Control Use of American Teenagers

Phillip Levine

7600: The Simple Economics of Open Source

Josh Lerner and Jean Triole

7599: Using the EITC to Help Poor Families: New Evidence and a Comparision with the Minimum Wage

David Neumark and William Wascher

7598: The First Year of the Eurosystem: Inflation Targeting or Not?

Lars Svensson

7597: How Effective is Redistribution Under the Social Security Benefit Formula?

Alan Gustman and Thomas L. Steinmeier

7596: The Taxation of Executive Compensation

Brian J. Hall and Jeffrey Liebman

7595: Do After-Tax Returns Affect Mutual Fund Inflows?

Daniel Bergstresser and James Poterba

7594: Public Policy and Extended Families: Evidence from South Africa

Marianne Bertrand, Douglas Miller and Sendhil Mullainathan

7593: Testing Parental Altruism: Implications of a Dynamic Model

Kathleen McGarry

7592: Why a Funded Pension System is Useful and Why It is Not Useful

Hans-Werner Sinn

7591: Education for Growth: Why and For Whom?

Alan Krueger and Mikael Lindahl

7590: Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk

John Campbell, Martin Lettau, Burton G. Malkiel and Yexiao Xu

7589: Asset Pricing at the Millennium

John Campbell

7588: Retirement Outcomes in the Health and Retirement Study

Alan Gustman and Thomas L. Steinmeier

7587: The Visible Hand, the Invisible Hand and Efficiency

Eitan Goldman and Gary Gorton

7586: Germany's Economic Unification: An Assessment after Ten Years

Hans-Werner Sinn

7585: Self-Confidence and Social Interactions

Roland Benabou and Jean Tirole

7584: A Dynamic Model of Differential Human Capital and Criminal Activity

Naci Mocan, Stephen C. Billups and Jody Overland

7583: Child Care and the Welfare to Work Transition

Robert Lemke, Ann Dryden Witte, Magaly Queralt and Robert Witt

7582: Obstacles to Optimal Policy: The Interplay of Politics and Economics in Shaping Bank Supervision and Regulation Reforms

Randall S. Kroszner and Philip E. Strahan

7581: Medium-Term Determinants of Current Accounts in Industrial and Developing Countries: An Empirical Exploration

Menzie Chinn and Eswar Prasad

7580: Economic Analysis of Social Interactions

Charles Manski

7579: Elected versus Appointed Regulators: Theory and Evidence

Stephen Coate and Timothy Besley

7578: Do Immigrant Inflows Lead to Native Outflows?

David Card and John DiNardo

7577: Potential Pitfalls for the Purchasing-Power-Parity Puzzle? Sampling and Specification Biases in Mean-Reversion Tests of the Law of One Price

Alan Taylor

7576: Does Growing Inequality Reduce Tax Progressivity? Should It?

Joel Slemrod and Jon Bakija

7575: Globalization and International Public Finance

Michael Kremer and Paras Mehta

7574: Guaranteed Income: SSI and the Well-Being of the Elderly Poor

Kathleen McGarry

7573: Labor Markets in Professional Sports

Sherwin Rosen and Allen Sanderson

7572: Keiretsu and Relationship-Specific Investment: A Barrier to Trade?

Barbara Spencer and Larry Qiu

7571: The Savers-Spenders Theory of Fiscal Policy

N. Gregory Mankiw

7570: Social Security and Inequality over the Life Cycle

Angus Deaton, Pierre-Olivier Gourinchas and Christina Paxson

7569: The Shape of Twentieth Century Economic History

James DeLong

7568: Long Run Effects of Social Security Reform Proposals on Lifetime Progressivity

Julia Lynn Coronado, Don Fullerton and Thomas Glass

7567: Daily Momentum and Contrarian Behavior of Index Fund Investors

William Goetzmann and Massimo Massa

7566: Global Real Estate Markets - Cycles and Fundamentals

Bradford Case, William Goetzmann and K. Rouwenhorst

7565: A Century of Global Stock Markets

Philippe Jorion and William Goetzmann

7564: Why Do People Still Live in East Germany?

Jennifer Hunt

7563: The Role of Social Capital in Financial Development

Luigi Guiso, Paola Sapienza and Luigi Zingales

7562: Compensation in the Nonprofit Sector

Christopher Ruhm and Carey Borkoski

7561: The Effect of Immigration on Native Self-Employment

Robert Fairlie and Bruce Meyer

7560: Differential Mortality and the Value of Individual Account Retirement Annuities

Jeffrey Brown

7559: Monetary Policy and Asset Price Volatility

Ben Bernanke and Mark Gertler

7558: The Importance of Measurement Error in the Cost of Capital

Austan Goolsbee

7557: Outsourcing at Will: Unjust Dismissal Doctrine and the Growth of Temporary Help Employment

David Autor

7556: Single Peaked Vs. Diversified Capitalism: The Relation Between Economic Institutions and Outcomes

Richard Freeman

7555: Does Public Insurance Improve the Efficiency of Medical Care? Medicaid Expansions and Child Hospitalizations

Leemore Dafny and Jonathan Gruber

7554: On the Fundamentals of Self-Fulfilling Speculative Attacks

Craig Burnside, Martin Eichenbaum and Sergio Rebelo

7553: Tax Subsidies for Health Insurance: Evaluating the Costs and Benefits

Jonathan Gruber

7552: Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (or Not)

Wesley M. Cohen, Richard Nelson and John P. Walsh

7551: Inflation Dynamics: A Structural Econometric Analysis

Jordi Galí and Mark Gertler

7550: What do we know about Macroeconomics that Fisher and Wicksell did not?

Olivier Blanchard

7549: The Information in the High Yield Bond Spread for the Business Cycle: Evidence and Some Implications

Mark Gertler and Cara S. Lown

7548: Optimal Exercise Prices for Executive Stock Options

Brian J. Hall and Kevin Murphy

7547: A Monetary Explanation of the Great Stagflation of the 1970s

Robert Barsky and Lutz Kilian

7546: The Firm as a Dedicated Hierarchy: A Theory of the Origin and Growth of Firms

Raghuram Rajan and Luigi Zingales

7545: Fertility, Migration, and Altruism

Eli Berman and Zaur Rzakhanov

7544: Labor- and Capital- Augmenting Technical Change

Daron Acemoglu

7543: The Importance of Group Coverage: How Tax Policy Shaped U.S. Health Insurance

Melissa Thomasson

7542: Why Do Dancers Smoke? Time Preference, Occupational Choice, and Wage Growth

Lalith Munasinghe and Nachum Sicherman

7541: The Growth Costs of Malaria

Desmond McCarthy, Holger Wolf and Yi Wu

7540: Institutions for High-Quality Growth: What They are and How to Acquire Them

Dani Rodrik

7539: Have Falling Tariffs and Transportation Costs Raised U.S. Wage Inequality?

Jonathan Haskel and Matthew J. Slaughter

7538: Heart of Darkness: Modeling Public-Private Funding Interactions Inside the R&D Black Box

Paul David and Bronwyn Hall

7537: Medical Liability, Managed Care, and Defensive Medicine

Daniel P. Kessler and Mark B. McClellan

7536: Strategic Trade Policy with Endogenous Choice of Quality and Asymmetric Costs

Dongsheng Zhou, Barbara Spencer and Ilan Vertinsky

7535: Cigarettes and Alcohol: Substitutes or Complements?

Sandra L. Decker and Amy Schwartz

7534: Resuscitating Real Business Cycles

Robert King and Sergio Rebelo

7533: How Liability Law Affects Medical Productivity

Daniel P. Kessler and Mark B. McClellan

7532: Capital Gains Realizations of the Rich and Sophisticated

Alan Auerbach and Jonathan Siegel

7531: Can Output Losses Following International Financial Crises be Avoided?

Michael Dooley

7530: Income-distribution Dynamics with Endogenous Fertility

Michael Kremer and Daniel Chen

7529: U.S. Banks, Crises, and Bailouts: From Mexico to LTCM

René Stulz

7528: Jacksonian Monetary Policy, Specie Flows, and the Panic of 1837

Peter Rousseau

7527: The Power of the Pill: Oral Contraceptives and Women's Career and Marriage Decisions

Claudia Goldin and Lawrence Katz

7526: How Large is the Bias is Self-Reported Disability?

Hugo Benitez-Silva, Moshe Buchinsky, Hiu Man Chan, Sofia Cheidvasser and John Rust