NBER Working Papers

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7106: Reconsidering Contractual Liability and the Incentive to Reveal Information

Lucian Bebchuk and Steven Shavell

7105: Transform Analysis and Asset Pricing for Affine Jump-Diffusions

Darrell Duffie, Jun Pan and Kenneth Singleton

7104: Noise Trading and Exchange Rate Regimes

Olivier Jeanne and Andrew Rose

7103: Social Security Investment in Equities I: Linear Case

Peter Diamond and Jean Geanakoplos

7102: Lessons from the Asian Crisis

Frederic Mishkin

7101: Do the Cognitive Skills of School Dropouts Matter in the Labor Market?

John Tyler, Richard Murnane and John B. Willett

7100: Trade and Foreign Direct Investment in China: A Political Economy Approach

Lee Branstetter and Robert Feenstra

7099: When Can Public Policy Makers Rely on Private Markets? The Effective Provision of Social Services

Rebecca Blank

7098: How Effective are Fiscal Incentives for R&D? A New Review of the Evidence

Bronwyn H. Hall and John van Reenen

7097: Political Economics and Public Finance

Torsten Persson and Guido Tabellini

7096: Incentives to Settle Under Joint and Several Liability

Howard F. Chang and Hilary Sigman

7095: Sectoral Job Creation and Destruction Responses to Oil Price Changes

Steven Davis and John Haltiwanger

7094: The Role of Foreign Direct Investment in International Capital Flows

Robert Lipsey

7093: Does "Grease Money" Speed Up the Wheels of Commerce?

Daniel Kaufmann and Shang-Jin Wei

7092: The Economics of Vouchers

David Bradford and Daniel N. Shaviro

7091: Latin America and East Asia in the Context of an Insurance Model of Currency Crises

Menzie Chinn, Michael Dooley and Sona Shrestha

7090: Business Cycles in International Historical Perspective

Susanto Basu and Alan Taylor

7089: Pricing Heart Attack Treatments

David Cutler, Mark McClellan, Joseph Newhouse and Dahlia Remler

7088: Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence

Bennett McCallum

7087: Role of the Minimal State Variable Criterion

Bennett McCallum

7086: Damages and Injunctions in the Protection of Proprietary Research Tools

Mark Schankerman and Suzanne Scotchmer

7085: Hostility in Takeovers: In the Eyes of the Beholder?

G. William Schwert

7084: Centralized versus Decentralized Provision of Local Public Goods: A Political Economy Analysis

Timothy Besley and Stephen Coate

7083: The Public Critique of Welfare Economics: An Exploration

Timothy Besley and Stephen Coate

7082: Do Higher Salaries Buy Better Teachers?

Eric A. Hanushek, John Kain and Steven Rivkin

7081: Trade Policy and Economic Growth: A Skeptic's Guide to Cross-National Evidence

Francisco Rodríguez and Dani Rodrik

7080: Mergers, Station Entry, and Programming Variety in Radio Broadcasting

Steven Berry and Joel Waldfogel

7079: Dynamic Factor Demand Models and Productivity Analysis

M. Ishaq Nadiri and Ingmar Prucha

7078: The Human Capital Model of the Demand for Health

Michael Grossman

7077: Fiscal Stance and the Real Exchange: Some Empirical Estimates

Richard Clarida and Joe Prendergast

7076: The Adoption of Offset Presses in the Daily Newspaper Industry in the United States

David Genesove

7075: Do Investors Forecast Fat Firms? Evidence from the Gold Mining Industry

Severin Borenstein and Joseph Farrell

7074: The Rybczynski Theorem, Factor-Price Equalization, and Immigration: Evidence from U.S. States

Gordon Hanson and Matthew J. Slaughter

7073: Area Economic Conditions and the Labor Market Outcomes of Young Men in the 1990s Expansion

Richard Freeman and William M. Rodgers

7072: Volatile Policy and Private Information: The Case of Monetary Policy

Larry Jones and Rodolfo Manuelli

7071: Multilateral Trade Negotiations, Bilateral Opportunism and the Rules of GATT

Kyle Bagwell and Robert W. Staiger

7070: Innovation Fertility and Patent Design

Hugo A. Hopenhayn and Matthew Mitchell

7069: Bayesian Performance Evaluation

Klaas Baks, Andrew Metrick and Jessica Wachter

7068: Legal Monopoly: Patents and Antitrust Litigation in U.S. Manufacturing, 1970-1998

B. Zorina Khan

7067: On the Foreign-Exchange Risk Premium in Sticky-Price General Equilibrium Models

Charles Engel

7066: Do Stronger Patents Induce More Innovation? Evidence from the 1988 Japanese Patent Law Reforms

Mariko Sakakibara and Lee Branstetter

7065: The Economics of Bequests in Pensions and Social Security

Martin Feldstein and Elena Ranguelova

7064: Privatizing R&D: Patent Policy and the Commercialization of National Laboratory Technologies

Adam Jaffe and Josh Lerner

7063: Technology (and Policy) Shocks in Models of Endogenous Growth

Larry Jones, Rodolfo Manuelli and Ennio Stacchetti

7062: The Patent Paradox Revisited: Determinants of Patenting in the US Semiconductor Industry, 1980-94

Bronwyn H. Hall and Rose Marie Ham

7061: Taxation and Saving

B. Douglas Bernheim

7060: Money and Interest Rates with Endogeneously Segmented Markets

Fernando Alvarez, Andrew Atkeson and Patrick Kehoe

7059: Can Taxes on Cars and on Gasoline Mimic an Unavailable Tax on Emissions?

Don Fullerton and Sarah West

7058: Child Care and Mothers' Employment Decisions

Patricia Anderson and Phillip Levine

7057: Liquidity Flows and Fragility of Business Enterprises

Wouter den Haan, Garey Ramey and Joel Watson

7056: International Asset Allocation with Time-Varying Correlations

Andrew Ang and Geert Bekaert

7055: Economic Tracking Portfolios

Owen Lamont

7054: Does Border Enforcement Protect U.S. Workers from Illegal Immigration?

Gordon Hanson, Raymond Robertson and Antonio Spilimbergo

7053: Starting Small in an Unfamiliar Environment

James Rauch and Joel Watson

7052: Economics and Mental Health

Richard G. Frank and Thomas G. McGuire

7051: Any Non-Individualistic Social Welfare Function Violates the Pareto Principle

Louis Kaplow and Steven Shavell

7050: Administrative Costs and Equilibrium Charges with Individual Accounts

Peter Diamond

7049: Mutual Funds and Institutional Investments: What is the Most Efficient Way to Set Up Individual Accounts in a Social Security System?

Estelle James, Gary Ferrier, James Smalhout and Dimitri Vittas

7048: Mortality Risk and Consumption by Couples

Michael D. Hurd

7047: The Economics of Smoking

Frank Chaloupka and Kenneth E. Warner

7046: Household Production and the Excess Sensitivity of Consumption to Current Income

Marianne Baxter and Urban Jermann

7045: The Business Cycles of Balance-of-Payment Crises: A Revision of Mundellan Framework

Enrique Mendoza and Martín Uribe

7044: International Experiences with Different Monetary Policy Regimes

Frederic Mishkin

7043: Ownership versus Environment: Why are Public Sector Firms Inefficient?

Ann P. Bartel and Ann E. Harrison

7042: The Role of Bank Restructuring in Recovering from Crises: Mexico 1995-98

Anne Krueger and Aaron Tornell

7041: Generational Accounting and Immigration in the United States

Alan Auerbach and Philip Oreopoulos

7040: Foreign-Affiliate Activity and U.S. Skill Upgrading

Bruce Blonigen and Matthew J. Slaughter

7039: On Portfolio Optimization: Forecasting Covariances and Choosing the Risk Model

Louis K.C. Chan, Jason Karceski and Josef Lakonishok

7038: Inequality, Growth, and Investment

Robert Barro

7037: Economic Epidemiology and Infectious Diseases

Tomas Philipson

7036: Uncertainty and the Design of Long-Run Fiscal Policy

Alan Auerbach and Kevin A. Hassett

7035: A New Measure of Horizontal Equity

Alan Auerbach and Kevin A. Hassett

7034: The Usual Excess-Burden Approximation Usually Doesn't Come Close

Lawrence H. Goulder and Roberton Williams

7033: Index Funds and Stock Market Growth

William Goetzmann and Massimo Massa

7032: Pairs Trading: Performance of a Relative Value Arbitrage Rule

Evan G. Gatev, William Goetzmann and K. Rouwenhorst

7031: The Risk of Social Security Benefit Rule Changes: Some International Evidence

John McHale

7030: Social Security and Demographic Uncertainty: The Risk Sharing Properties of Alternative Policies

Henning Bohn

7029: Investing Retirement Wealth: A Life-Cycle Model

John Campbell, Joao F. Cocco, Francisco Gomes and Pascal J. Maenhout

7028: Using Employee Level Data in a Firm Level Econometric Study

Jacques Mairesse and Nathalie Greenan

7027: Maximum Likelihood in the Frequency Domain: A Time to Build Example

Lawrence Christiano and Robert Vigfusson

7026: Pricing to Market, Staggered Contracts, and Real Exchange Rate Persistence

Paul Bergin and Robert Feenstra

7025: The Concentration of Job Destruction

Robert E. Hall

7024: Network Effects and Diffusion in Pharmaceutical Markets: Antiulcer Drugs

Ernst R. Berndt, Robert Pindyck and Pierre Azoulay

7023: Forecasting Inflation

James H. Stock and Mark Watson

7022: Innovation in Israel 1968-97: A Comparative Analysis Using Patent Data

Manuel Trajtenberg

7021: Globalization of Equity Markets and the Cost of Capital

Rene M. Stulz

7020: Valuing the Reload Features of Executive Stock Options

Steven Huddart, Ravi Jagannathan and Jane Saly

7019: Inferring Relative Factor Price Changes from Quantitative Data

Robert Baldwin

7018: Patterns of Skill Premia

Daron Acemoglu

7017: Taylor Rules in a Limited Participation Model

Lawrence Christiano and Christopher Gust

7016: The Transition to Investment-Based Social Security when Portfolio Returns and Capital Profitability are Uncertain

Martin Feldstein, Elena Ranguelova and Andrew Samwick

7015: Asset Allocation and Risk Allocation: Can Social Security Improve Its Future Solvency Problem by Investing in Private Securities?

Thomas E. MaCurdy and John B. Shoven

7014: Devaluation Risk and the Syndrome of Exchange-Rate-Based Stabilizations

Enrique Mendoza and Martín Uribe

7013: Unskilled Migration: A Burden or a Boon for the Welfare State

Assaf Razin and Efraim Sadka

7012: Search and Deliberation in International Exchange: Learning from Multinational Trade About Lags, Distance Effects, and Home Bias

Subramanian Rangan and Robert Lawrence

7011: Robust Estimation of the Joint Consumption / Asset Demand Decision

Marjorie Flavin

7010: Theory and History Behind Business Cycles: Are the 1990s the Onset of a Golden Age?

Victor Zarnowitz

7009: Conditioning Variables and the Cross-Section of Stock Returns

Wayne Ferson and Campbell R. Harvey

7008: Measuring Bubble Expectations and Investor Confidence

Robert J. Shiller

7007: The Location and Allocation of Assets in Pension and Conventional Savings Accounts

John B. Shoven