NBER Working Papers

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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

6357: The Structure of Wages and Investment in General Training

Daron Acemoglu and Jorn-Steffen Pischke

6356: Indexed Units of Account: Theory and Assessment of Historical Experience

Robert Shiller

6355: Taxes and Employment Subsidies in Optimal Redistribution Programs

Paul Beaudry and Charles Blackorby

6354: Asset Pricing with Distorted Beliefs: Are Equity Returns Too Good To Be True?

Stephen Cecchetti, Pok-sang Lam and Nelson Mark

6353: The Introduction of Crack Cocaine and the Rise in Urban Crime Rates

Jeffrey Grogger and Mike Willis

6352: The Dark Side of Internal Capital Markets II: Evidence from Diversified Conglomerates

David Scharfstein

6351: International Home Bias in International Finance and Business Cycles

Karen Lewis

6350: Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses

Dani Rodrik

6349: VAT Base Broadening, Self Supply, and The Informal Sector

John Piggott and John Whalley

6348: Adolescent Alcohol and Marijuana Consumption: Is There Really a Gateway Effect?

Rosalie Pacula

6347: The Japanese Open-End Fund Puzzle

Stephen Brown, William Goetzmann, Takato Hiraki, Toshiyuki Otsuki and Noriyoshi Shiraishi

6346: The Effects of Malpractice Pressure and Liability Reforms on Physicians' Perceptions of Medical Care

Daniel P. Kessler and Mark McClellan

6345: Inter vivos Transfers and Intended Bequests

Kathleen McGarry

6344: Foreign Direct Investment, Trade and Real Exchange Rate Linkages in Developing Countries

Linda Goldberg and Michael Klein

6343: What Causes Public Assistance Caseloads to Grow?

Rebecca Blank

6342: Estimating Adjustment Costs with Data on Heterogeneous Capital Goods

Austan Goolsbee and David B. Gross

6341: Electoral Institutions, Cabinet Negotiations, and Budget Deficits in the European Union

Mark Hallerberg and Juergen von Hagen

6340: Transfer Motives and Tax Policy

Louis Kaplow

6339: Quantitative Implications of the Home Bias: Foreign Underinvestment, Domestic Oversaving, and Corrective Taxation

Assaf Razin, Efraim Sadka and Chi-Wa Yuen

6338: Channeling Domestic Savings into Productive Investment Under Asymmetric Information: The Essential Role of Foreign Direct Investment

Assaf Razin, Efraim Sadka and Chi-Wa Yuen

6337: The Estate Tax and After-Tax Investment Returns

James Poterba

6336: A Model of Endogenous Fiscal Deficits and Delayed Fiscal Reforms

Andres Velasco

6335: Economic Integration and Convergence: U.S. Regions, 1840-1987

Sukkoo Kim

6334: The Mexican Peso Crisis? How Much Did We Know? When Did We Know It?

Sebastian Edwards

6333: What Happens When You Tax the Rich? Evidence from Executive Compensation

Austan Goolsbee

6332: Hong Kong's Business Regulation in Transition

Changqi Wu and Leonard K. Cheng

6331: The Careers of Modern Artists: Evidence from Auctions of Contemporary Paintings

David Galenson

6330: Has Job Stability Declined Yet? New Evidence for the 1990's

David Neumark, Daniel Polsky and Daniel Hansen

6329: Political Economics and Macroeconomic Policy

Torsten Persson and Guido Tabellini

6328: The Determinants of Child Care Workers' Wages and Compensation: Sectoral Differences, Human Capital, Race, Insiders and Outsiders

Naci Mocan and Deborah Viola

6327: Whither the World Bank and the IMF?

Anne O. Krueger

6326: Pecuniary Incentives to Work in the U.S. during World War II

Casey Mulligan

6325: The Central Tendency: A Second Factor in Bond Yields

Pierluigi Balduzzi, Sanjiv Das and Silverio Foresi

6324: A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets

Harrison Hong and Jeremy Stein

6323: How the Changing Market Structure of U.S. Higher Education Explains College Tuition

Caroline Hoxby

6322: Regions, Resources, and Economic Geography: Sources of U.S. Regional Comparative Advantage, 1880-1987

Sukkoo Kim

6321: Market Forces and Sex Discrimination

Judith Hellerstein, David Neumark and Kenneth Troske

6320: Volatility and Financial Intermediation

Joshua Aizenman and Andrew Powell

6319: Open-Economy Macroeconomics, Developments in Theory and Policy

Maurice Obstfeld

6318: Unions and Managerial Pay

John DiNardo, Kevin Hallock and Jorn-Steffen Pischke

6317: Myopia and Inconsistency in the Neoclassical Growth Model

Robert Barro

6316: After Chile, What? Second-Round Pension Reforms in Latin America

Olivia Mitchell and Flavio Ataliba Barreto

6315: Inventories

Valerie Ramey and Kenneth West

6314: NIMBY Taxes Matter: State Taxes and Interstate Hazardous Waste Shipments

Arik Levinson

6313: Unequal at Birth: A Long-Term Comparison of Income and Birth Weight

Dora Costa

6312: Foreign Speculators and Emerging Equity Markets

Geert Bekaert and Campbell Harvey

6311: Managing the Public Debt in Fiscal Stabilizations: The Evidence

Alessandro Missale, Francesco Giavazzi and Pierpaolo Benigno

6310: Sharp Reductions in Current Account Deficits: An Empirical Analyis

Gian Maria Milesi-Ferretti and Assaf Razin

6309: Corporate Governance

Luigi Zingales

6308: Social Security and Retirement in Canada

Jonathan Gruber

6307: Welfare and Macroeconomic Interdependence

Giancarlo Corsetti and Paolo Pesenti

6306: Central Bank Policy Rules: Conceptual Issues and Practical Considerations

Stephen Cecchetti

6305: Are Public Housing Projects Good for Kids?

Janet Currie and Aaron Yelowitz

6304: Patent Buy-Outs: A Mechanism for Encouraging Innovation

Michael Kremer

6303: The Effect of Means-Tested Income Support for the Elderly on Pre-Retirement Saving: Evidence from the SSI Program in the U.S

David Neumark and Elizabeth Powers

6302: Argentina and the World Capital Market: Saving, Investment, and International Capital Mobility in the Twentieth Century

Alan Taylor

6301: Predation, Efficiency, and Inequality

Herschel Grossman and Minseong Kim

6300: A Model of Crises in Emerging Markets

Michael Dooley

6299: band Labor Demand: Evidence from the South Coast Air Basin

Eli Berman and Linda Bui

6298: Death to the Log-Linearized Consumption Euler Equation! (And Very Poor Health to the Second-Order Approximation)

Christopher Carroll

6297: Stylized Facts of Patent Litigation: Value, Scope and Ownership

Jean Lanjouw and Mark Schankerman

6296: The Enforcement of Intellectual Property Rights: A Survey of the Empirical Literature

Jean Lanjouw and Josh Lerner

6295: Implications of Rising Personal Retirement Saving

James Poterba, Steven Venti and David Wise

6294: Market Access and Welfare Effects of Piecemeal Policy Reform

Jiandong Ju and Kala Krishna

6293: The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry

Severin Borenstein, James Bushnell and Steven Stoft

6292: Transition Issues for the European Monetary Union

Willem Buiter and Anne Sibert

6291: The Alleged Instability of Nominal Income Targeting

Bennett McCallum

6290: The Past, Present, and Future of Macroeconomic Forecasting

Francis Diebold

6289: "Make Us a King": Anarchy, Predation, and the State

Herschel Grossman

6288: The Sources of Regional Variation in the Severity of the Great Depression: Evidence from U.S. Manufacturing, 1919-1937

Joshua Rosenbloom and William A. Sundstrom

6287: The Market and the Estimators: Forecasting the Cost of Medicare Catastrophic Coverage

Sherry Glied and Tama Brooks

6286: Debts and Deficits with Fragmented Fiscal Policymaking

Andres Velasco

6285: Population and Ideas: A Theory of Endogenous Growth

Charles Jones

6284: The Upcoming Slowdown in U.S. Economic Growth

Charles Jones

6283: Costly Capital Reallocation and the Effects of Government Spending

Valerie Ramey and Matthew Shapiro

6282: Apocalypse Now? Fundamental Tax Reform and Residential Housing Values

Donald Bruce and Douglas Holtz-Eakin

6281: The Redistributive Effects of Transfers

Keshab Bhattarai and John Whalley

6280: Discreteness and the Welfare Cost of Labor Supply Tax Distortions

Keshab Bhattarai and John Whalley

6279: Employer Learning and Statistical Discrimination

Joseph Altonji and Charles R. Pierret

6278: A New Bankruptcy Procedure that Uses Multiple Auctions

Oliver Hart, Rafael La Porta, Florencio Lopez- de-Silane and John Moore

6277: Avoiding Health Insurance Crowd-Out: Evidence from the Medicare as Secondary Payer Legislation

Sherry Glied and Mark Stabile

6276: Graduation to Health Insurance Coverage: 1981-1996

Sherry Glied and Mark Stabile