NBER Working Papers

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6006: International Trade Between Consumer and Conservationist Countries

James Brander and M. Scott Taylor

6005: Industry Evolution and Transition: A Neoclassical Benchmark

Andrew Atkeson and Patrick Kehoe

6004: The Optimal Tax Rate for Capital Income is Negative

Kenneth Judd

6003: Local Violence, Educational Attainment, and Teacher Pay

Jeffrey Grogger

6002: New Evidence on the Money's Worth of Individual Annuities

Olivia Mitchell, James Poterba and Mark J. Warshawsky

6001: The History of Annuities in the United States

James Poterba

6000: Government Debt and Social Security in a Life-Cycle Economy

Mark Gertler

5999: A Clinical Exploration of Value Creation and Destruction in Acquisitions: Organizational Design, Incentives, and Internal Capital Markets

Steven Kaplan, Mark Mitchell and Karen H. Wruck

5998: Can Higher Cigarette Taxes Improve Birth Outcomes?

William Evans and Jeanne S. Ringel

5997: Sovereign Debt and Consumption Smoothing

Herschel Grossman and Taejoon Han

5996: Capital-Market Imperfections and Investment

Robert Hubbard

5995: The Determinants of Public Education Expenditures: Evidence from the States, 1950-1990

Raquel Fernandez and Richard Rogerson

5994: Business Cycles: Theory, Evidence and Implications

Russell W. Cooper

5993: The Case for a Two-Part Instrument: Presumptive Tax and Environmental Subsidy

Don Fullerton and Ann Wolverton

5992: Does Acquisition of a GED Lead to More Training, Post-Secondary Education, and Military Service for School Dropouts?

Richard Murnane, John B. Willett and Kathryn Parker Boudett

5991: Are Countries with Official International Restrictions "Liquidity Constrained?"

Karen Lewis

5990: U.S. Exports, 1972-1994: With State Exports and Other U.S. Data

Robert Feenstra

5989: The Impact of Psychiatric Disorders on Labor Market Outcomes

Susan L. Ettner, Richard G. Frank and Ronald C. Kessler

5988: Labor Earnings Mobility and Inequality in the United States and Germany During the Growth Years of the 1980s

Richard Burkhauser, Douglas Holtz-Eakin and Stephen E. Rhody

5987: The Effect of Managed Care on Health Care Providers

Laurence C. Baker and Martin L. Brown

5986: The Great Depression and the Regulating State: Federal Government Regulation of Agriculture: 1884-1970

Gary Libecap

5985: The Technology of Birth: Health Insurance, Medical Interventions, and Infant Health

Janet Currie and Jonathan Gruber

5984: Identifying the Common Component in International Economic Fluctuations

Robin L. Lumsdaine and Eswar Prasad

5983: Market Wages and Youth Crime

Jeffrey Grogger

5982: Cellular Telephone, New Products and the CPI

Jerry Hausman

5981: The Sugar Institute Learns to Organize Information Exchange

David Genesove and Wallace P. Mullin

5980: Alternative Strategies for Aggregating Prices in the CPI

Matthew Shapiro and David Wilcox

5979: Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia

Takatoshi Ito, Peter Isard and Steven Symansky

5978: Openness, Productivity and Growth: What Do We Really Know?

Sebastian Edwards

5977: Banks and Macroeconomics Disturbances under Predetermined Exchange Rates

Sebastian Edwards and Carlos Vegh

5976: Taming the Skew: Higher-Order Moments in Modeling Asset Price Processes in Finance

Sanjiv Das and Rangarajan K. Sundaram

5975: Putting Things in Order: Patterns of Trade Dynamics and Growth

Robert Feenstra and Andrew Rose

5974: The Forecasting Ability of Correlations Implied in Foreign Exchange Options

Jose Campa and P. H. Kevin Chang

5973: The Demand for Hours of Labor: Direct Evidence from California

Daniel Hamermesh and Stephen Trejo

5972: The Way We Were (And Are): Changes in Public Finance and Its Textbooks

Harvey Rosen

5971: A Markup Interpretation of Optimal Rules for Irreversible Investment

Avinash Dixit, Robert Pindyck and Sigbjorn Sodal

5970: Returns to Regionalism: An Evaluation of Non-Traditional Gains from RTAs

Raquel Fernandez

5969: The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment

David Scharfstein and Jeremy Stein

5968: Nominal Anchor Exchange Rate Policies as a Domestic Distortion

Anne O. Krueger

5967: When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets

Ian Parry, Roberton Williams and Lawrence H. Goulder

5966: Community Choice and Local Public Services: A Discrete Choice Approach

Thomas Nechyba and Robert Strauss

5965: International Portfolio Diversification with Generalized Expected Utility Preferences

Joshua Aizenman

5964: Private School Vouchers and Student Achievement: An Evaluation of the Milwaukee Parental Choice Program

Cecilia Elena Rouse

5963: Was the Great Depression a Watershed for American Monetary Policy?

Charles Calomiris and David Wheelock

5962: Inflation Targeting: Some Extensions

Lars Svensson

5961: Leverage and House-Price Dynamics in U.S. Cities

Owen Lamont and Jeremy Stein

5960: The Great Depression as a Watershed: International Capital Mobility over the Long Run

Maurice Obstfeld and Alan Taylor

5959: U.S. Multinationals and Competition from Low Wage Countries

David A. Riker and S. Lael Brainard

5958: Are U.S. Multinationals Exporting U.S. Jobs?

S. Lael Brainard and David A. Riker

5957: Consolidation in the Medical Care Marketplace: A Case Study from Masschusetts

Jason R. Barro and David Cutler

5956: Computing Inequality: Have Computers Changed the Labor Market?

David Autor, Lawrence Katz and Alan Krueger

5955: Entry, Exit, Embodied Technology, and Business Cycles

Jeffrey Campbell

5954: The Optimum Quantity of Money: Theory and Evidence

Casey Mulligan and Xavier Sala-i-Martin

5953: The Sociology of Groups and the Economics of Incentives: Theory and Evidence on Compensation Systems

William E. Encinosa, Martin Gaynor and James Rebitzer

5952: Efficient Rules for Monetary Policy

Laurence Ball

5951: Lending Cycles

Patrick K. Asea and Stephen Blomberg

5950: Heterogeneous Information Arrival and Option Pricing

Patrick K. Asea and Mthuli Ncube

5949: The Genesis and Evolution of Social Security

Jeffrey Miron and David Weil

5948: Retiree Health Insurance and the Labor Force Behavior of Older Men in the 1990s

David Blau and Donna Gilleskie

5947: On the Optimality of Interest Rate Smoothing

Sergio Rebelo and Danyang Xie

5946: Accounting for Future Costs in Medical Cost-Effectiveness Analysis

David Meltzer

5945: Empirical Patterns of Firm Growth and R&D Investment: A Quality Ladder Model Interpretation

Tor Klette and Zvi Griliches

5944: Interest Rate Targeting and the Dynamics of Short-Term Rates

Pierluigi Balduzzi, Giuseppe Bertola, Silverio Foresi and Leora Klapper

5943: Integration, Cointegration and the Forecast Consistency of Structural Exchange Rate Models

Yin-Wong Cheung and Menzie Chinn

5942: Protection for Sale: An Empirical Investigation

Pinelopi Goldberg and Giovanni Maggi

5941: Technological Change and Wages: An Inter-Industry Analysis

Ann P. Bartel and Nachum Sicherman

5940: Technology, Trade, and Wages

James Adams

5939: Patterns of Intra- and Inter-State Trade

Holger C. Wolf

5938: Location and Technological Change in the American Glass Industry During the Late Nineteenth and Early Twentieth Centuries

Naomi R. Lamoreaux and Kenneth Sokoloff

5937: Neglected Effects on the Uses Side: Even a Uniform Tax Would Change Relative Goods Prices

Don Fullerton and Diane Lim

5936: Is There Private Information in the FX Market? The Tokyo Experiment

Takatoshi Ito, Richard Lyons and Michael Melvin

5935: Understanding China's Economic Performance

Jeffrey D. Sachs and Wing Woo

5934: Shifts in U.S. Relative Wages: The Role of Trade, Technology and Factor Endowments

Robert Baldwin and Glen Cain

5933: Macroeconomic Fluctuations and the Allocation of Time

Robert Hall

5932: Reciprocity, Non-discrimination and Preferential Agreements in the Multilateral Trading System

Kyle Bagwell and Robert Staiger

5931: Within Group "Structural" Tests of Labor-Market Discrimination: A Study of Persons with Serious Disabilities

David Salkever and Marisa E. Domino

5930: To Each According To...? Markets, Tournaments, and the Matching Problem with Borrowing Constraints

Raquel Fernandez and Jordi Galí

5929: The Evolution of Advanced Large Scale Information Infrastructure in the United States

Shane Greenstein, Mercedes M. Lizardo and Pablo Spiller

5928: Measuring Positive Externalities from Unobservable Victim Precaution: An Empirical Analysis of Lojack

Ian Ayres and Steven Levitt

5927: Immigrant Inflows, Native Outflows, and the Local Labor Market Impacts of Higher Immigration

David Card

5926: A Model of Investor Sentiment

Nicholas Barberis, Andrei Shleifer and Robert Vishny

5925: Uncertain Duration of Reform: Dynamic Implications

Guillermo Calvo and Allan Drazen

5924: Labor Market Shifts and the Price Puzzle Revisited

Alan Krueger

5923: The Uruguay Round and Welfare in Some Distorted Agricultural Economies

James Anderson

5922: Equilibrium Unemployment

João Gomes, Jeremy Greenwood and Sergio Rebelo

5921: Regionalism and Multilateral Tariff Cooperation

Kyle Bagwell and Robert Staiger

5920: On the Uses of Benefit-Cost Reasoning in Choosing Policy Toward Global Climate Change

David Bradford

5919: The Evolving External Orientation of Manufacturing Industries: Evidence from Four Countries

Jose Campa and Linda Goldberg

5918: Analyzing Investments Whose Histories Differ in Length

Robert Stambaugh

5917: Employment Policy of the Middle Reagan Years: What Didn't Happen and Why It Didn't Happen

Martin Feldstein

5916: Contract Form and Procurement Costs: The Impact of Compulsory Multiple Contractor Laws in Construction

Orley Ashenfelter, David Ashmore and Randall Filer

5915: Cyclical Productivity with Unobserved Input Variation

Susanto Basu and Miles Kimball

5914: TFPG Controversies, Institutions, and Economic Performance in East Asia

Dani Rodrik

5913: Reinsurance for Catastrophes and Cataclysms

David Cutler and Richard Zeckhauser

5912: Pension and Social Security Wealth in the Health and Retirement Study

Alan Gustman, Olivia Mitchell, Andrew Samwick and Thomas L. Steinmeier

5911: The Moral Hazard of Insuring the Insurers

James G. Bohn and Brian J. Hall

5910: World Trade Flows, 1970-1992, with Production and Tariff Data

Robert Feenstra, Robert Lipsey and Harry Bowen

5909: Offshore Hedge Funds: Survival and Performance 1989-1995

Stephen Brown, William Goetzmann and Roger G. Ibbotson

5908: The CEA: From Stabilization to Resource Allocation

Martin Feldstein

5907: Default and Renegotiation: A Dynamic Model of Debt

Oliver Hart and John Moore