NBER Working Papers

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6457: Household Savings in Transition Economies

Cevdet Denizer and Holger C. Wolf

6456: Indeterminacy, Bubbles, and the Fiscal Theory of Price Level Determination

Bennett McCallum

6455: The Financial Accelerator in a Quantitative Business Cycle Framework

Ben Bernanke, Mark Gertler and Simon Gilchrist

6454: A Theory of Wage and Promotion Dynamics in Internal Labor Markets

Robert Gibbons and Michael Waldman

6453: Universal Service in the Digital Age: The Commercialization and Geography of U.S. Internet Access

Shane Greenstein

6452: Transparency and Credibility: Monetary Policy with Unobservable Goals

Jon Faust and Lars Svensson

6451: A Contracting-Theory Interpretation of the Origins of Federal Deposit Insurance

Edward Kane and Berry K. Wilson

6450: Assessing the Bias in the Consumer Price Index from Survey Data

Alan Krueger and Aaron Siskind

6449: Would Financial Incentives for Leaving Welfare Lead Some People to Stay on Welfare Longer? An Experimental Evaluation of 'Entry Effects' in the SSP

David Card, Philip Robins and Winston Lin

6448: Contracts, Intellectual Property Rights, and Multinational Investment in Developing Countries

James Markusen

6447: An International Comparison of Generational Accounts

Laurence Kotlikoff and Willi Leibfritz

6446: Meritocracy in America: An Examination of Wages Within and Across Occupations

John Cawley, James Heckman and Edward Vytlacil

6445: Cyclical Movements in Wages and Consumption in a Bargaining Model of Unemployment

Julio Rotemberg

6444: The Behavioral Economics of Smoking

Warren K. Bickel and Gregory J. Madden

6443: The Effects of Price Changes on Alcohol Consumption in Alcohol-Experienced Rats

Jeffrey Sarbaum, Solomon Polachek and Norman E. Spear

6442: Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory

Richard Clarida, Jordi Galí and Mark Gertler

6441: Capital Inflows into Latin America: A Stop-Go Story?

Sebastian Edwards

6440: Changing the Price of Pork: The Impact of Local Cost Sharing on Legislators' Demand for Distributive Public Goods

Alison F. DelRossi and Robert P. Inman

6439: Human Capital and Social Capital: The Rise of Secondary Schooling in America, 1910 to 1940

Claudia Goldin and Lawrence Katz

6438: Understanding the U.S. Export Boom

Andrew Bernard and J. Jensen

6437: The Induced Innovation Hypothesis and Energy-Saving Technological Change

Richard Newell, Adam Jaffe and Robert Stavins

6436: The Rise and Fall of a Barbarous Relic: The Role of Gold in the International Monetary SYstem

Michael Bordo and Barry Eichengreen

6435: The Tax Benefits of Not-for-Profit Hospitals

William Gentry and John R. Penrod

6434: Conditional Market Timing with Benchmark Investors

Connie Becker, Wayne Ferson, David Myers and Michael Schill

6433: Fundamental Tax Reform and Corporate Financial Policy

William Gentry and Robert Hubbard

6432: Demographic Differentials in the Demand for Alcohol and Illicit Drugs

Henry Saffer and Frank Chaloupka

6431: Regional Nonadjustment and Fiscal Policy: Lessons for EMU

Maurice Obstfeld and Giovanni Peri

6430: Opting Out of Social Security and Adverse Selection

Laurence Kotlikoff, Kent Smetters and Jan Walliser

6429: Market Potential, Increasing Returns, and Geographic Concentration

Gordon Hanson

6428: Social Security: Privatization and Progressivity

Laurence Kotlikoff, Kent Smetters and Jan Walliser

6427: Hedge Funds and the Asian Currency Crisis of 1997

Stephen Brown, William Goetzmann and James Park

6426: General Equilibrium Treatment Effects: A Study of Tuition Policy

James Heckman, Lance Lochner and Christopher Taber

6425: The Rise of Multiunit Firms in U.S. Manufacturing

Sukkoo Kim

6424: The Emergence of the Euro as an International Currency

Richard Portes and Helene Rey

6423: Does Spending on Medical Services Change as HMOs Grow and Mature?

Patricia Born and Rosalie Pacula

6422: The New Empirics of Economic Growth

Steven Durlauf and Danny Quah

6421: Cooperatives vs. Outside Ownership

Oliver Hart and John Moore

6420: Nonlinear Aggregate Investment Dynamics: Theory and Evidence

Ricardo Caballero and Eduardo Engel

6419: The Unequal Work Day: A Long-Term View

Dora Costa

6418: Social Action, Private Choice, and Philanthropy: Understanding the Sources of Improvements in Black Schooling in Georgia, 1911-1960

John Donohue, James Heckman and Petra Todd

6417: Price Indexes for the Treatment of Depression

Richard G. Frank, Ernst R. Berndt and Susan H. Busch

6416: Vintage Capital and Inequality

Boyan Jovanovic

6415: A Behavioral Economic Analysis of Polydrug Abuse in Heroin Addicts

Nancy M. Petry and Warren K. Bickel

6414: Fundamentals or Population Dynamics and the Geographic Distribution of U.S. Biotechnology Enterprises, 1976-1989

Lynne Zucker, Michael Darby and Yusheng Peng

6413: High Water Marks

William Goetzmann, Jonathan Ingersoll, Jr. and Stephen Ross

6412: Positive Portfolio Factors

Stephen Brown, William Goetzmann and Mark Grinblatt

6411: The Demand for Cocaine and Marijuana by Youth

Frank Chaloupka, Michael Grossman and John Tauras

6410: Delayed Reward Discounting in Alcohol Abuse

Rudy E. Vuchinich and Cathy A. Simpson

6409: Reconciling Asymmetric Information and Divergent Expectations Theories of Litigation

Joel Waldfogel

6408: What Explains Changing Spreads on Emerging-Market Debt: Fundamentals or Market Sentiment?

Barry Eichengreen and Ashoka Mody

6407: Income Alters the Relative Reinforcing Effects of Drug and Nondrug Reinforcers

Marilyn E. Carroll

6406: Does Drug Use Cause Poverty?

Robert Kaestner

6405: Internationalized Production in Developed and Developing Countries and in Industry Sectors

Robert Lipsey

6404: Measuring Real Investment: Trends in the United States and International Comparisons

Milka S. Kirova and Robert Lipsey

6403: Human Capital and Predation: A Positive Theory of Educational Policy

Herschel Grossman and Minseong Kim

6402: Employment as a Drug Abuse Treatment Intervention: A Behavioral Economic Analysis

Kenneth Silverman and Elias Robles

6401: Are Alcoholics in Bad Jobs?

Donald Kenkel and Ping Wang

6400: Monetary Policy Shocks: What Have We Learned and to What End?

Lawrence Christiano, Martin Eichenbaum and Charles Evans

6399: Capital Gains Taxation and Tax Avoidance: New Evidence from Panel Data

Alan Auerbach, Leonard E. Burman and Jonathan Siegel

6398: Did Unilateral Divorce Raise Divorce Rates? Evidence from Panel Data

Leora Friedberg

6397: Unit Roots, Postwar Slowdowns and Long-Run Growth: Evidence from Two Structural Breaks

Dan Ben-David, Robin L. Lumsdaine and David Papell

6396: The Young Person's Guide to Neutrality, Price Level Indeterminacy, Interest Rate Pegs, and Fiscal Theories of the Price Level

Willem Buiter

6395: It's Not About the Money: Why Natural Experiments Don't Work on the Rich

Austan Goolsbee

6394: Career Concerns of Mutual Fund Managers

Judith Chevalier and Glenn Ellison

6393: Does Schooling Cause Growth or the Other Way Around?

Mark Bils and Pete Klenow

6392: The Business Cycle, Financial Performance, and the Retirement of Capital Goods

Austan Goolsbee

6391: Estimating the Impact of the GED on the Earnings of Young Dropouts Using a Series of Natural Experiments

John Tyler, Richard Murnane and John B. Willett

6390: International Capital Movements, Financial Volatility and Financial Instability

Frederic Mishkin

6389: Owner-Occupied Housing and the Composition of the Household Portfolio Over the Life-Cycle

Marjorie Flavin and Takashi Yamashita

6388: Understanding the Role of Cognitive Ability in Accounting for the Recent Rise in the Economic Return to Education

John Cawley, James Heckman and Edward Vytlacil

6387: Measuring Market Power in the Ready-to-Eat Cereal Industry

Aviv Nevo

6386: A Reanalysis of the Effect of the New Jersey Minimum Wage Increase on the Fast-Food Industry with Representative Payroll Data

David Card and Alan Krueger

6385: Life Cycle Schooling and Dynamic Selection Bias: Models and Evidence for Five Cohorts

Stephen V. Cameron and James Heckman

6384: Explaining Rising Wage Inequality: Explorations with a Dynamic General Equilibrium Model of Labor Earnings with Heterogeneous Agents

James Heckman, Lance Lochner and Christopher Taber

6383: Has U.S. Investment Abroad Become More Sensitive to Tax Rates?

Rosanne Altshuler, Harry Grubert and T. Scott Newlon

6382: International Portfolio Diversification and Labor/Leisure Choice

Urban Jermann

6381: Stock Market Volatility: Ten Years After the Crash

G. Schwert

6380: Perspectives on the Recent Currency Crisis Literature

Robert Flood and Nancy Marion

6379: Predictable Changes in Yields and Forward Rates

David Backus, Silverio Foresi, Abon Mozumdar and Liuren Wu

6378: Theories of the Distribution of Labor Earnings

Derek Neal and Sherwin Rosen

6377: Nonprofit Production and Competition

Darius Lakdawalla and Tomas Philipson

6376: Is Trade Policy for Sale? Congressional Voting on Recent Trade Bills

Robert Baldwin and Christopher S. Magee

6375: Human Behavior and the Efficiency of the Financial System

Robert Shiller

6374: Entrepreneurs, Income Taxes, and Investment

Robert Carroll, Douglas Holtz-Eakin, Mark Rider and Harvey Rosen

6373: Expandability, Reversibility, and Optimal Capacity Choice

Avinash Dixit and Robert Pindyck

6372: Consumption Smoothing through Fiscal Policy in OECD and EU Countries

Adriana Arreaza, Bent Sorensen and Oved Yosha

6371: Modeling Money

Lawrence Christiano, Martin Eichenbaum and Charles Evans

6370: Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises

Barry Eichengreen and Andrew Rose

6369: The Immediate Challenges for the European Central Bank

Rüdiger Dornbusch, Carlo Favero and Francesco Giavazzi

6368: The Cost of Diversity: The Diversification Discount and Inefficient Investment

Raghuram Rajan, Henri Servaes and Luigi Zingales

6367: Has the Business Cycle Been Abolished?

Victor Zarnowitz

6366: The Introduction of Pharmaceutical Product Patents in India: "Heartless Exploitation of the Poor and Suffering"?

Jean Lanjouw

6365: Another Look at the Capitalization of Interest Subsidies: Evidence from Sweden

Tommy Berger, Peter Englund, Patric Hendershott and Bengt Turner

6364: Democracies Pay Higher Wages

Dani Rodrik

6363: Incentives and Social Capital: Are Homeowners Better Citizens?

Denise DiPasquale and Edward Glaeser

6362: School Quality and the Longer-Term Effects of Head Start

Janet Currie and Duncan Thomas

6361: Do Sentencing Guidelines Raise the Cost of Punishment?

Jose Meade and Joel Waldfogel

6360: Capturing Technological Opportunity via Japan's Star Scientists: Evidence from Japanese Firms' Biotech Patents and Products

Lynne Zucker and Michael Darby

6359: Alcohol Regulation and Violence Towards Children

Sara Markowitz and Michael Grossman

6358: Institutional Arrangements and Fiscal Performance: The Latin American Experience

Ernesto Stein, Ernesto Talvi and Alejandro Grisanti