NBER Working Papers

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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

5906: Re-emerging Markets

William Goetzmann and Philippe Jorion

5905: Trade, Social Insurance, and the Limits to Globalization

Dani Rodrik

5904: The Valuation of the Foreign Income of U.S. Multinational Firms: A Growth Opportunities Perspective

Gordon Bodnar and Joseph Weintrop

5903: Orchestrating Impartiality: The Impact of "Blind" Auditions on Female Musicians

Claudia Goldin and Cecilia Rouse

5902: The Influence of Income Tax Rules on Insurance Reserves

David Bradford and Kyle D. Logue

5901: A Century of Global Stock Markets

William Goetzmann and Philippe Jorion

5900: Financial Factors and Investment in Belgium, France, Germany and the UK:A Comparison Using Company Panel Data

Stephen Bond, Julie Elston, Jacques Mairesse and Benoît Mulkay

5899: Order from Chaos? The Effects of Early Labor Market Experiences on Adult Labor Market Outcomes

Rosella Gardecki and David Neumark

5898: A Simple Model of Trade, Capital Mobility, and the Environment

Brian Copeland and M. Scott Taylor

5897: Per Capita Income Convergence and the Role of International Trade

Matthew J. Slaughter

5896: Trade Policy and Economic Development: How We Learn

Anne O. Krueger

5895: From Smoot-Hawley to Reciprocal Trade Agreements: Changing the Course of U.S. Trade Policy in the 1930s

Douglas Irwin

5894: Post-'87 Crash Fears in S&P 500 Futures Options

David S. Bates

5893: Inflation Targeting: A New Framework for Monetary Policy?

Ben Bernanke and Frederic Mishkin

5892: Policy Signaling in the Open Economy: A Re-Examination

Allan Drazen

5891: Accounting for the Slowdown in Employer Health Care Costs

Alan Krueger and Helen Levy

5890: Towards a Political-Economic Theory of Domestic Debt

Allan Drazen

5889: A Distinctive System: Origins and Impact of U.S. Unemployment Compensation

Katherine Baicker, Claudia Goldin and Lawrence Katz

5888: Using Maimonides' Rule to Estimate the Effect of Class Size on Student Achievement

Joshua Angrist and Victor Lavy

5887: Business Groups and Trade in East Asia: Part 2, Product Variety

Robert Feenstra, Maria Yang and Gary G. Hamilton

5886: Business Groups and Trade in East Asia: Part 1, Networked Equilibria

Robert Feenstra, Deng-Shing Huang and Gary G. Hamilton

5885: Distributional Effects of Adopting a National Retail Sales Tax

Daniel Feenberg, Andrew W. Mitrusi and James Poterba

5884: Cost of Capital for the United States, Japan, and Canada: An Attempt at Measurement Based on Individual Company Records and Aggregate National Acccoun

Albert Ando, John Hancock and Gary Sawchuk

5883: Implications of the Great Depression for the Development of the International Monetary System

Michael Bordo and Barry Eichengreen

5882: A Portfolio Approach to a Cross-Sectoral and Cross-National Investment Strategy in Transition Economies

Willem Buiter, Ricardo Lago and Helene Rey

5881: The Rise and Decline of the American Ghetto

David Cutler, Edward Glaeser and Jacob Vigdor

5880: Manufacturing Plant Location: Does State Pollution Regulation Matter?

Wayne Gray

5879: Legal Determinants of External Finance

Rafael La Porta, Florencio Lopez- de-Silane, Andrei Shleifer and Robert Vishny

5878: The Segmentation of International Markets: Evidence from The Economist

Michael M. Knetter

5877: New Techniques to Extract Market Expectations from Financial Instruments

Paul Söderlind and Lars Svensson

5876: Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles

Varadarajan Chari, Patrick Kehoe and Ellen McGrattan