NBER Working Papers

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5857: Consumption and Portfolio Decisions When Expected Returns are Time Varying

John Campbell and Luis Viceira

5856: The Invisible Hand and the Grabbing Hand

Timothy Frye and Andrei Shleifer

5855: The Timing of Work Time Over Time

Daniel Hamermesh

5854: Effective Protection Redux

James Anderson

5853: Product Standards Coalitions in a Market Without Borders

Alessandra Casella

5852: Are Some Mutual Funds Managers Better Than Others? Cross-Sectional Patterns in Behavior and Performance

Judith Chevalier and Glenn Ellison

5851: Optimal Government Spending and Taxation in Endgenous Growth Models

Giancarlo Corsetti and Nouriel Roubini

5850: Tax Burden and Migration: A Political Economy Perspective

Assaf Razin and Efraim Sadka

5849: Bank Consolidation: A Central Banker's Perspective

Frederic Mishkin

5848: The Demise of Double Liability as an Optimal Contract for Large-Bank Stockholders

Berry K. Wilson and Edward Kane

5847: Infrastructure Capital and Economic Growth: How Well You Use It May Be More Important Than How Much You Have

Charles R. Hulten

5846: Manufactured Inequality

Sherwin Rosen

5845: Is There a Role for Monetary Aggregates in the Conduct of Monetary Policy?

Arturo Estrella and Frederic Mishkin

5844: Neoclassical vs. Endogenous Growth Analysis: An Overview

Bennett McCallum

5843: The Effects of Short-Term Variation in Abortion Funding on Pregnancy Outcomes

Philip J Cook, Allan M. Parnell, Michael J. Moore and Deanna Pagnini

5842: When Are Fixed Exchange Rates Really Fixed?

Andres Velasco

5841: Volatility and the Investment Response

Joshua Aizenman and Nancy Marion

5840: The Adoption of Workers' Compensation in the United States 1900-1930

Price Fishback and Shawn Kantor

5839: International Implications of German Unification

Hans-Werner Sinn

5838: Do Balanced Budget Rules Work? U.S. Experience and Possible Lessons for the EMU

Robert P. Inman

5837: You Can't Take It With You? Immigrant Assimilation and the Portability of Human Capital

Rachel Friedberg

5836: Computers and Productivity in France: Some Evidence

Nathalie Greenan and Jacques Mairesse

5835: On the Validity of Season of Birth as an Instrument in Wage Equations: A Comment on Angrist & Krueger's "Does Compulsory School Attendance Affect Scho

John Bound and David Jaeger

5834: Medicaid and Service Use Among Homeless Adults

Sherry Glied, Christina Hoven, Robert Moore and A. Garrett

5833: Research Productivity in a System of Universities

James Adams and Zvi Griliches

5832: Distributional Implications of Introducing a Broad-Based Consumption Tax

William Gentry and Robert Hubbard

5831: Health Insurance for Poor Women and Children in the U.S.: Lessons from the Past Decade

Jonathan Gruber

5830: Conditioning Manager Alphas on Economic Information: Another Look at the Persistence of Performance

Jon A. Christopherson, Wayne Ferson and Debra A. Glassman

5829: Continuous Training in Germany

Jorn-Steffen Pischke

5828: Institutions and Labor Reallocation

Giuseppe Bertola and Richard Rogerson

5827: Trade Reform with a Government Budget Constraint

James Anderson

5826: Taxation and Economic Growth

Eric M. Engen and Jonathan Skinner

5825: New Activities, the Welfare Cost of Uncertainty and Investment Policies

Joshua Aizenman

5824: Liberalization of Capital Flows in Korea: Big-Bang or Gradualism?

Dongchul Cho and Youngsun Koh

5823: Changes in Wage Inequality, 1970-1990

Jacob Mincer

5822: What We Know and Do Not Know About the Natural Rate of Unemployment

Olivier Blanchard and Lawrence Katz

5821: Inflation, Real Interest Rates, and the Bond Market: A Study of UK Nominal and Index-Linked Government Bond Prices

David Barr and John Campbell

5820: The Changing Structure of Cost and Demand for the U.S. Telecommunications Industry

M. Ishaq Nadiri and Banani Nandi

5819: The Underreaction Hypothesis and the New Issue Puzzle: Evidence from Japan

Jun-Koo Kang, Yong-Cheol Kim and René Stulz

5818: The Myth of the Patient Japanese: Corporate Myopia and Financial Distress in Japan and the US

Brian J. Hall and David Weinstein

5817: Private and Public Supply of Liquidity

Bengt Holmstrom and Jean Tirole

5816: The Econometrics of Ultra-High Frequency Data

Robert Engle

5815: The Taxation of Pensions: A Shelter can Become a Trap

John B. Shoven and David Wise

5814: Financial and Capital Account Liberalization in the Pacific Basin: Korea and Taiwan during the 1980's

Menzie Chinn and William Maloney

5813: Alternate Insurance Arrangements and the Treatment of Depression: What Are the Facts?

Ernst R. Berndt, Richard G. Frank and Thomas G. McGuire

5812: The Productivity of Nations

Robert Hall and Charles Jones

5811: The Chilean Pension Reform: A Pioneering Program

Sebastian Edwards

5810: Balance Sheets, Multinational Financial Policy, and the Cost of Capital at Home and Abroad

Rosanne Altshuler and Harry Grubert

5809: Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?

Varadarajan Chari, Patrick Kehoe and Ellen McGrattan

5808: Firm Heterogeneity, Jobs, and International Trade: Evidence from Chile

James Levinsohn

5807: The Effect of Teen Childbearing and Single Parenthood on Childhood Disabilities and Progress in School

Joshua Angrist and Victor Lavy

5806: Sources of Convergence in the Late Nineteenth Century

Alan Taylor

5805: Does Head Start Help Hispanic Children?

Janet Currie and Duncan Thomas

5804: Sticky Price and Limited Participation Models of Money: A Comparison

Lawrence Christiano, Martin Eichenbaum and Charles Evans

5803: Effort, Wages and the International Division of Labor

Edward Leamer

5802: What Happens Within Firms? A Survey of Empirical Evidence on Compensation Policies

Canice Prendergast

5801: International R&D Spillovers, Trade and Productivity in Major OECD Countries

M. Ishaq Nadiri and Seongjun Kim

5800: Are Knowledge Spillovers International or Intranational in Scope? Microeconometric Evidence from the Japan and the United States

Lee Branstetter

5799: Australia's Retirement Income System: Implications for Saving and Capital Markets

Malcolm Edey and John Simon

5798: Convergence and International Factor Flows in Theory and History

Alan Taylor

5797: Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets

Lars Svensson

5796: Paying for Health Insurance: The Tradeoff between Competition and Adverse Selection

David Cutler and Sarah Reber

5795: Star Scientists, Institutions, and the Entry of Japanese Biotechnology Enterprises

Michael Darby and Lynne Zucker

5794: A Tale of Two Crises: Chile and Mexico

Sebastian Edwards

5793: Inflation and the Distribution of Price Changes

Michael F. Bryan and Stephen Cecchetti

5792: Understanding Equilibrium Models with a Small and a Large Number of Agents

Wouter J. Den Haan

5791: Current Account Sustainability: Selected East Asian and Latin American Experiences

Gian Maria Milesi-Ferretti and Assaf Razin

5790: Index Number and Factor Demand Approaches to the Estimation of Productivity

David H. Good, M. Ishaq Nadiri and Robin Sickles

5789: Speculative Attacks: Fundamentals and Self-Fulfilling Prophecies

Robert Flood and Nancy Marion

5788: Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis

Christopher Carroll

5787: Testing for the Fundamental Determinants of the Long-Run Real Exchange Rate: The Case of Taiwan

Hsiu-Ling Wu

5786: Measuring Short-Run Inflation for Central Bankers

Stephen Cecchetti

5785: Linear Probability Models of the Demand for Attributes with an Empirical Application to Estimating the Preferences of Legislators

James Heckman and James Snyder

5784: Do Nontraded Goods Explain the Home Bias Puzzle?

Paolo Pesenti and Eric van Wincoop

5783: DM-Dollar Volatility: Intraday Activity Patterns, Macroeconomic Announcements, and Longer Run Dependencies

Torben Andersen and Tim Bollerslev

5782: A Critical Assessment of the Role of Imperfect Competition in Macroeconomics

Dennis Carlton

5781: Child Support and Fathers' Remarriage and Fertility

David Bloom, Cecilia Conrad and Cynthia Miller

5780: Pension System Reform: The Mexican Case

Carlos Sales-Sarrapy, Fernando Solis-Soberon and Alejandro Villagomez

5779: Executive Compensation and the Optimality of Managerial Entrenchment

Gary Gorton and Bruce D. Grundy

5778: Children and Their Parents' Labor Supply: Evidence from Exogenous Variation in Family Size

Joshua Angrist and William Evans

5777: The Long-Run U.S./U.K. Real Exchange Rate

Charles Engel and Chang-Jin Kim

5776: Simulating the Privatization of Social Security in General Equilibrium

Laurence Kotlikoff

5775: On the Driving Forces Behind Cyclical Movement, in Employment and Job Reallocation

Steven Davis and John Haltiwanger

5774: The Decline of Welfare Benefits in the U.S.: The Role of Wage Inequality

Robert Moffitt, David Ribar and Mark Wilhelm

5773: Diffusion of General Purpose Technologies

Elhanan Helpman and Manuel Trajtenberg

5772: Debt, Cash Flow and Inflation Incentives: A Swedish Example

Mats Persson, Torsten Persson and Lars Svensson

5771: The Exchange Value of the Renminbi and China's Balance of Trade: An Emp irical Study

Zhaoyong Zhang

5770: Estimating the Welfare Effects of Digital Infrastructure

Shane Greenstein and Pablo Spiller

5769: Do Markets Respond More to More Reliable Labor Market Data? A Test of Market Rationality

Alan Krueger

5768: Trade and Environment Beyond Singapore

John Whalley

5767: Aggregate Employment Fluctuations with Microeconomic Asymmetries

Jeffrey Campbell and Jonas Fisher

5766: A Model of Foreign Exchange Rate Indetermination

Charles Engel

5765: Non-Monetary Exchange Within Firms and Industry

Canice Prendergast and Lars Stole

5764: What Does the Bundesbank Target?

Ben Bernanke and Ilian Mihov

5763: The Wages and Language Skills of U.S. Immigrants

Geoffrey Carliner

5762: Individual Financial Decisions in Retirement Saving Plans and The Provision of Resources for Retirement

James Poterba and David Wise

5761: The Transition Path in Privatizing Social Security

Martin Feldstein and Andrew Samwick

5760: Mortality Contingent Claims, Health Care, and Social Insurance

Tomas Philipson and Gary Becker

5759: The Effects of Tax-Based Saving Incentives On Saving and Wealth

Eric M. Engen, William Gale and John Scholz

5758: Financial Dependence and Growth

Raghuram Rajan and Luigi Zingales