NBER Working Papers

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7660: Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts

Steven Kaplan and Per Stromberg

7659: Investment-Cash Flow Sensitivities are not Valid Measures of Financing Constraints

Steven Kaplan and Luigi Zingales

7658: Dropout and Enrollment Trends in the Post-War Period: What Went Wrong in the 1970s?

David Card and Thomas Lemieux

7657: Free Trade and Global Warming: A Trade Theory View of the Kyoto Protocol

Brian Copeland and M. Scott Taylor

7656: The Effect of Attending a Small Class in the Early Grades on College-Test Taking and Middle School Test Results: Evidence from Project STAR

Alan Krueger and Diane Whitmore

7655: Can Falling Supply Explain the Rising Return to College for Younger Men? A Cohort-Based Analysis

David Card and Thomas Lemieux

7654: Neutralizing the Adverse Industry Impacts of CO2 Abatement Policies: What Does it Cost?

Lans Bovenberg and Lawrence H. Goulder

7653: The Bail-In Problem: Systematic Goals, Ad Hoc Means

Barry Eichengreen and Christof Ruehl

7652: Aggregate Price Shocks and Financial Instability: An Historical Analysis

Michael Bordo, Michael Dueker and David Wheelock

7651: Social Security Incentives for Retirement

Courtney Coile and Jonathan Gruber

7650: American Living Standards, 1888-1994: Evidence From Consumer Expenditures

Dora Costa

7649: Horizontal Equity: New Measures, Unclear Principles

Louis Kaplow

7648: Behavioral and Distributional Effects of Environmental Policy Introduction

Carlo Carraro and Gilbert Metcalf

7647: What Have We Learned from the Reagan Deficits and Their Disappearance?

Benjamin M. Friedman

7646: Economic Reforms and Labor Markets: Policy Issues and Lessons from Chile

Sebastian Edwards and Alejandra Cox Edwards

7645: Controls on Capital Inflows: Do they Work?

Jose De Gregorio, Sebastian Edwards and Rodrigo Valdés

7644: Capital Gains Taxes and Stock Reactions to Quarterly Earnings Announcements

Jennifer L. Blouin, Jana Smith Raedy and Douglas Shackelford

7643: Universities as Research Partners

Bronwyn Hall, Albert Link and John Scott

7642: Trade and the Rate of Income Convergence

Dan Ben-David and Ayal Kimhi

7641: Ohlin Versus Stolper-Samuelson?

Douglas Irwin

7640: Could the U.S. Iron Industry Have Survived Free Trade After the Civil War?

Douglas Irwin

7639: Tariffs and Growth in Late Nineteenth Century America

Douglas Irwin

7638: How Did the United States Become a Net Exporter of Manufactured Goods?

Douglas Irwin

7637: Why Do Temporary Help Firms Provide Free General Skills Training?

David Autor

7636: Why Do the Poor Live in Cities?

Edward Glaeser, Matthew Kahn and Jordan Rappaport

7635: Foreign-Born Teaching Assistants and the Academic Performance of Undergraduates

George Borjas

7634: Contractibility and Asset Ownership: On-Board Computers and Governance in U.S. Trucking

George P. Baker and Thomas N. Hubbard

7633: Growth and Business Cycles

Larry Jones, Rodolfo Manuelli and Henry Siu

7632: When Did Globalization Begin?

Kevin O'Rourke and Jeffrey Williamson

7631: The Meaning of Patent Citations: Report on the NBER/Case-Western Reserve Survey of Patentees

Adam Jaffe, Manuel Trajtenberg and Michael S. Fogarty

7630: From Benign Neglect to Malignant Preoccupation: U.S. Balance-of-Payments Policy in the 1960s

Barry Eichengreen

7629: Dimensions of Credit Risk and Their Relationship to Economic Capital Requirements

Mark Carey

7628: Using Elasticities to Derive Optimal Income Tax Rates

Emmanuel Saez

7627: What has Welfare Reform Accomplished? Impacts on Welfare Participation, Employment, Income, Poverty, and Family Structure

Robert Schoeni and Rebecca Blank

7626: Taxes, High-Income Executives, and the Perils of Revenue Estimation in the New Economy

Austan Goolsbee

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