NBER Working Papers

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7157: An International Dynamic Asset Pricing Model

Robert Hodrick, David Ng and Paul Sengmueller

7156: How Offshore Financial Competition Disciplines Exit Resistence by Incentive-Conflicted Bank Regulators

Edward Kane

7155: Participation in Heterogeneous Communities

Alberto Alesina and Eliana La Ferrara

7154: In Search of Substitution Between Foreign Production and Exports

Bruce Blonigen

7153: Regional Contagion and the Globalization of Securities Markets

Guillermo Calvo and Enrique Mendoza

7152: The Equilibrium Degree of Transparency and Control in Monetary Policy

Jon Faust and Lars Svensson

7151: Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism

Stephen Cecchetti

7150: Capital Mobility, Distributive Conflict, and International Tax Coordination

Dani Rodrik and Tanguy van Ypersele

7149: Patterns of Trade in the Market for Used Durables: Theory and Evidence

Robert Porter and Peter Sattler

7148: American Living Standards: Evidence from Recreational Expenditures

Dora Costa

7147: The Science of Monetary Policy: A New Keynesian Perspective

Richard Clarida, Jordi Galí and Mark Gertler

7146: The Impact of Globalization on Pre-Industrial, Technologically Quiescent Economies

Jeffrey Williamson

7145: Capital Goods Prices, Global Capital Markets and Accumulation: 1870-1950

William Collins and Jeffrey Williamson

7144: Dispersion and Volatility in Stock Returns: An Empirical Investigation

John Campbell and Martin Lettau

7143: Hedging and Financial Fragility in Fixed Exchange Rate Regimes

Craig Burnside, Martin Eichenbaum and Sergio Rebelo

7142: The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements: Theory and Evidence

Gary Libecap and James Smith

7141: Inequalities in Income and Inequalities in Health

Angus Deaton

7140: Mortality, Education, Income, and Inequality among American Cohorts

Angus Deaton and Christina Paxson

7139: Common Fundamentals in the Tequila and Asian Crises

Aaron Tornell

7138: The Retirement Behavior of Married Couples: Evidence from the Spouse's Allowance

Michael Baker

7137: The Nominal Rigidity of Apartment Rents

David Genesove

7136: Information Technology, Workplace Organization and the Demand for Skilled Labor: Firm-Level Evidence

Timothy Bresnahan, Erik Brynjolfsson and Lorin Hitt

7135: Exporting and Productivity

Andrew Bernard and J. Jensen

7134: Capital Flows in Asia

Takatoshi Ito

7133: Offshore Investment Funds: Monsters in Emerging Markets?

Woochan Kim and Shang-Jin Wei

7132: Tax and Education Policy in a Heterogeneous Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency?

Roland Benabou

7131: Evaluating the Effect of an Antidiscrimination Law Using a Regression-Discontinuity Design

Jinyong Hahn, Petra Todd and Wilbert van der Klaauw

7130: The Effect of Alcohol Prohibition on Alcohol Consumption

Jeffrey Miron

7129: Alcohol Regulation and Violence on College Campuses

Michael Grossman and Sara Markowitz

7128: Determinants of Non-employment and Unemployment Durations in East Germany

Jennifer Hunt

7127: Learning and Forgetting: The Dynamics of Aircraft Production

C. Lanier Benkard

7126: The Returns to Skill in the United States across the Twentieth Century

Claudia Goldin and Lawrence Katz

7125: Was Expansionary Monetary Policy Feasible During the Great Contraction? An Examination of the Gold Standard Constraint

Michael Bordo, Ehsan Choudhri and Anna Schwartz

7124: Executive Compensation: Six Questions that Need Answering

John Abowd and David Kaplan

7123: Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers

Gary Gorton and Matthias Kahl

7122: Age and the Quality of Work: The Case of Modern American Painters

David Galenson and Bruce Weinberg

7121: Education and Social Capital

John Helliwell and Robert D. Putnam

7120: Urban Development in the United States, 1690-1990

Sukkoo Kim

7119: Social Security in Theory and Practice (II): Efficiency Theories, Narrative Theories, and Implications for Reform

Casey Mulligan and Xavier Sala-i-Martin

7118: Social Security in Theory and Practice (I): Facts and Political Theories

Casey Mulligan and Xavier Sala-i-Martin

7117: Gerontocracy, Retirement, and Social Security

Casey Mulligan and Xavier Sala-i-Martin

7116: Microfoundations and Macro Implications of Indivisible Labor

Casey Mulligan

7115: Understanding the "Problem of Economic Development": The Role of Factor Mobility and International Taxation

Assaf Razin and Chi-Wa Yuen

7114: State Drug Control and Illicit Drug Participation

Henry Saffer and Frank Chaloupka

7113: Lending Booms, Reserves, and the Sustainability of Short-Term Debt: Inferences from the Pricing of Syndicated Bank Loans

Barry Eichengreen and Ashoka Mody

7112: Antitrust and Competition in Health Care Markets

Martin Gaynor and William Vogt

7111: Equity and Resources: An Analysis of Education Finance Systems

Raquel Fernandez and Richard Rogerson

7110: Government as a Discriminating Monopolist in the Financial Market: The Case of China

Roger Gordon and Wei Li

7109: Power Couples: Changes in the Locational Choice of the College Educated, 1940-1990

Dora Costa and Matthew Kahn

7108: Do Corrupt Governments Receive Less Foreign Aid?

Alberto Alesina and Beatrice Weder di Mauro

7107: Inventive Activity and the Market for Technology in the United States, 1840-1920

Naomi R. Lamoreaux and Kenneth Sokoloff

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 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. 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 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 Staiger

7070: Innovation Fertility and Patent Design

Hugo 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 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