NBER Working Papers

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5471: The "Fundamental Transformation" in Macroeconomics

Ricardo Caballero and Mohamad L. Hammour

5470: Economic Growth and Social Capital in Asia

John Helliwell

5469: The Costs and Benefits of Going from Low Inflation to Price Stability

Martin Feldstein

5468: Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets

Severin Borenstein and Andrea Shepard

5467: Sustainability of Persistent Current Account Deficits

Gian Maria Milesi-Ferretti and Assaf Razin

5466: Do Doctors Practice Defensive Medicine?

Daniel P. Kessler and Mark McClellan

5465: The Rise and Fall of Money Growth Targets as Guidelines for U.S. Monetary Policy

Benjamin M. Friedman

5464: The Channels of Monetary Transmission: Lessons for Monetary Policy

Frederic Mishkin

5463: A Time-Series Analysis of Crime and Drug Use in New York City

Hope Corman and Naci Mocan

5462: Financing Constraints and Corporate Investment: Response to Kaplan and Zingales

Steven Fazzari, Robert Hubbard and Bruce Petersen

5461: Threats without Binding Commitment

Steven Shavell and Kathryn Spier

5460: A Citation-Based Test for Discrimination at Economics and Finance Journals

Scott Smart and Joel Waldfogel

5459: Wage Inequality and Family Labor Supply

Chinhui Juhn and Kevin Murphy

5458: Rent-Shifting Export Subsidies with an Imported Intermediate Product

Jota Ishikawa and Barbara Spencer

5457: Japanese and U.S. Exports and Investment as Conduits of Growth

Jonathan Eaton and Akiko Tamura

5456: The L.A. Riot and the Economics of Urban Unrest

Denise DiPasquale and Edward Glaeser

5455: Wage Mobility in the United States

Moshe Buchinsky and Jennifer Hunt

5454: Searching for the Effect of Immigration on the Labor Market

George Borjas, Richard Freeman and Lawrence Katz

5453: Universal Banking and the Performance of German Firms

Gary Gorton and Frank A. Schmid

5452: Inflation's Children: Tales of Crises that Beget Reforms

Michael Bruno and William Easterly

5451: Why Do So Many Young American Men Commit Crimes and What Might We Do About It?

Richard Freeman

5450: Labor Market Effects of School Quality: Theory and Evidence

David Card and Alan Krueger

5449: Budget Institutions and Fiscal Policy in the U.S. States

James Poterba

5448: What's the Use of Factor Contents?

Edward Leamer

5447: Intergenerational Redistribution with Short-Lived Governments

Gene Grossman and Elhanan Helpman

5446: Public Information and the Persistence of Bond Market Volatility

Charles Jones, Owen Lamont and Robin Lumsdaine

5445: Target Zones and Exchange Rates: An Empirical Investigation

Geert Bekaert and Stephen F. Gray

5444: Incentives in Basic Research

Edward Lazear

5443: Why, indeed, in America? Theory, History, and the Origins of Modern Economic Growth

Paul Romer

5442: The Efficiency of Self-Regulated Payments Systems: Learning From the Suffolk System

Charles Calomiris and Charles Kahn

5441: The Social Costs of Rent Control Revisited

Edward Glaeser

5440: The Trade Effects of U.S. Antidumping Actions

Thomas Prusa

5439: Nominal Wage Stickiness and Aggregate Supply in the Great Depression

Ben Bernanke and Kevin Carey

5438: Employer Learning and the Signaling Value of Education

Joseph Altonji and Charles R. Pierret

5437: Currency Crashes in Emerging Markets: Empirical Indicators

Jeffrey Frankel and Andrew Rose

5436: Relational Investing: The Worker's Perspective

Edward Lazear and Richard Freeman

5435: Working for Nothing: The Supply of Volunteer Labor

Richard Freeman

5434: The Effect of Maternal Drug Use on Birth Weight: Measurement Error in Binary Variables

Robert Kaestner, Ted Joyce and Hassan Wehbeh

5433: Labor Mobility and Fiscal Coordination

Assaf Razin and Chi-Wa Yuen

5432: On the Costs of Inward-Looking Development: Historical Perspectives on Price Distortions, Growth, and Divergence in Latin American from 1930s - 1980s

Alan Taylor

5431: Regional Trading Arrangement: Natural or Super-Natural?

Jeffrey Frankel, Ernesto Stein and Shang-Jin Wei

5430: Why Is There More Crime in Cities?

Edward Glaeser and Bruce Sacerdote

5429: Displacing the Family: Union Army Pensions and Elderly Living Arrange- ments

Dora Costa

5428: Integrating Behavioral Choice into Epidemiological Models of the AIDS Epidemic

Michael Kremer

5427: In Search of Stolper-Samuelson Effects on U.S. Wages

Edward Leamer

5426: Education, Human Capital, and Growth: A Personal Perspective

Zvi Griliches

5425: U.S.-Mexico Integration and Regional Economies: Evidence from Border- City Pairs

Gordon Hanson

5424: Globalization, Outsourcing, and Wage Inequality

Robert Feenstra and Gordon Hanson

5423: Repeat Use of Unemployment Insurance

Bruce Meyer and Dan Rosenbaum

5422: How Well do Foreign Exchange Markets Function: Might a Tobin Tax Help?

Jeffrey Frankel

5421: Tariff Phase-Outs: Theory and Evidence from GATT and NAFTA

Carsten Kowalczyk and Donald Davis

5420: A Computable General Equilibrium Model of Intergovernmental Aid

Thomas Nechyba

5419: Local Property and State Income Taxes: The Role of Interjurisdictional Competition and Collusion

Thomas Nechyba

5418: The Effect of Pharmaceutical Utilization and Innovation on Hospitalization and Mortality

Frank Lichtenberg

5417: Wage Dispersion and Technical Progress

Pierre-Richard Agénor and Joshua Aizenman

5416: Testing for Trade-Induced Investment-Led Growth

Richard Baldwin and Elena Seghezza

5415: Whither Flat Panel Displays?

Kala Krishna and Marie Thursby

5414: The Poverty of Nations: A Quantitative Exploration

Varadarajan Chari, Patrick Kehoe and Ellen McGrattan

5413: The Missing Piece in Policy Analysis: Social Security Reform

Martin Feldstein

5412: Trends in Regional Inequality in China

Tianlun Jian, Jeffrey D. Sachs and Andrew Warner

5411: The Principle and Market Failure in Systems Competition

Hans-Werner Sinn

5410: Consumption, Stock Returns, and the Gains from International Risk-Sharing

Karen Lewis

5409: Cause-Specific Mortality among Medicare Enrollees

Jay Bhattacharya, Alan M. Garber and Thomas MaCurdy

5408: High Yields: The Spread on German Interest Rates

Carlo Favero, Francesco Giavazzi and Luigi Spaventa

5407: Public Sector Deficits and Macroeconomic Stability in Developing Countries

Sebastian Edwards

5406: Schooling and Labor Market Consequences of the 1970 State Abortion Reforms

Joshua Angrist and William Evans

5405: The Determinants and Impact of Property Rights: Land Titles on the Brazilian Frontier

Lee Alston, Gary Libecap and Robert Schneider

5404: Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences

Jeffrey D. Sachs

5403: Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach

Kenneth Froot and Jeremy Stein

5402: Do "Shortages" Cause Inflation?

Owen Lamont

5401: International R&D Spillovers between Canadian and Japanese Industries

Jeffrey Bernstein and Xiaoyi Yan

5400: The Effects of Offshore Assembly on Industry Location: Evidence from U.S. Border Cities

Gordon Hanson

5399: Schooling, Labor Force Quality, and Economic Growth

Eric Hanushek and Dongwook Kim

5398: Natural Resource Abundance and Economic Growth

Jeffrey D. Sachs and Andrew Warner

5397: The Effect of a Consumption Tax on the Rate of Interest

Martin Feldstein

5396: The Tyranny of Inequality

Raghuram Rajan and Luigi Zingales

5395: Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies

Charles Engel and John Rogers

5394: Accounting for U.S. Real Exchange Rate Changes

Charles Engel

5393: Employer Size and The Wage Structure in U.S. Manufacturing

Steven Davis and John Haltiwanger

5392: Around the European Periphery 1870-1913: Globalization, Schooling and Growth

Kevin O'Rourke and Jeffrey Williamson

5391: How Tax Complexity and Enforcement Affect the Equity and Efficiency of The Income Tax

Louis Kaplow

5390: Climbing Out of Poverty, Falling Back In: Measuring the Persistence of Poverty over Multiple Spells

Ann Stevens

5389: Changes in the Distribution of Wages, 1940-1950: The Public vs. the Private Sector

Robert Margo and T. Aldrich Finegan

5388: Do Children of Immigrants Make Differential Use of Public Health Insurance?

Janet Currie

5387: Sampling Errors and Confidence Intervals for Order Statistics: Implementing the Family Support Act

William Horrace, Peter Schmidt and Ann Dryden Witte

5386: Volatility, Investment and Disappointment Aversion

Joshua Aizenman and Nancy Marion

5385: Internationalized Production in World Output

Robert Lipsey, Magnus Blomstrom and Eric Ramstetter

5384: Capital Structure Choice when Managers are in Control: Entrenchment versus Efficiency

Walter Novaes and Luigi Zingales

5383: Learning and Growth

Boyan Jovanovic

5382: Aggregate Productivity and the Productivity of Aggregates

Susanto Basu and John Fernald

5381: Turning Points in the Civil War: Views from the Greenback Market

Kristen L. Willard, Timothy Guinnane and Harvey Rosen

5380: Why Have Separate Environmental Taxes?

Don Fullerton

5379: Predicting U.S. Recessions: Financial Variables as Leading Indicators

Arturo Estrella and Frederic Mishkin

5378: Parental Altruism and Inter Vivos Transfers: Theory and Evidence

Joseph Altonji, Fumio Hayashi and Laurence Kotlikoff

5377: Determinants of Bilateral Trade: Does Gravity Work in a Neoclassical World?

Alan Deardorff

5376: Heterogeneous Expectations and Tests of Efficiency in the Yen/Dollar Forward Foreign Exchange Rate Market

Graham Elliott and Takatoshi Ito

5375: Momentum Strategies

Louis K. C. Chan, Narasimhan Jegadeesh and Josef Lakonishok

5374: A Cross-Market Comparison of Institutional Equity Trading Costs

Louis K. C. Chan and Josef Lakonishok

5373: Social Construction of Trust to Protect Ideas and Data in Space Science and Geophysics

Lynne Zucker and Michael Darby

5372: Immigration and the Welfare State: Immigrant Participation in Means- Tested Entitlement Programs

George Borjas and Lynette Hilton