NBER Working Papers

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4736: On the Speed of Transition Central Europe

Philippe Aghion and Olivier Blanchard

4735: The Soviet Economic Decline: Historical and Republican Data

William Easterly and Stanley Fischer

4734: The Distribution of Public Sector Wage Premia: New Evidence Using Quantile Regression Methods

James Poterba and Kim Rueben

4733: British Unions in Decline: An Examination of the 1980s Fall in Trade Union Recognition

Richard Disney, Amanda Gosling and Stephen Machin

4732: Trade Unions and the Dispersion of Earnings in British Establishments, 1980-90

Amanda Gosling and Stephen Machin

4731: An Analysis of Fee-Shifting Based on the Margin of Victory: On FrivolousSuits, Meritorious Suits and the Role of Rule 11

Lucian Bebchuk and Howard F. Chang

4730: Externalities and Industrial Development

J. Vernon Henderson

4729: Training and the Growth of Wage Inequality

Jill Constantine and David Neumark

4728: Cities and Skills

Edward Glaeser and David Maré

4727: Transaction Costs in Dealer Markets: Evidence From The London Stock Exchange

Peter C. Reiss and Ingrid M. Werner

4726: A Comparison of Job Creation and Job Destruction in Canada and the United States

John Baldwin, Timothy Dunne and John Haltiwanger

4725: Capital Goods Imports and Long-Run Growth

Jong-Wha Lee

4724: The Valuation of Cash Flow Forecasts: An Empirical Analysis

Steven Kaplan and Richard S. Ruback

4723: Firm Diversification and CEO Compensation: Managerial Ability or Executive Entrenchment?

Nancy Rose and Andrea Shepard

4722: Testing Static Trade-off Against Pecking Order Models of Capital Structure

Lakshmi Shyam-Sunder and Stewart C. Myers

4721: Congressional Distributive Politics and State Economic Performance

Steven Levitt and James Poterba

4720: Implementing Option Pricing Models When Asset Returns Are Predictable

Andrew Lo and Jiang Wang

4719: Reconsidering the Costs of Business Cycles with Incomplete Markets

Andrew Atkeson and Christopher Phelan

4718: A Nonparametric Approach to Pricing and Hedging Derivative Securities Via Learning Networks

James M. Hutchinson, Andrew Lo and Tomaso Poggio

4717: A Stock Index Mutual Fund Without Net Capital Gains Realizations

Joel M. Dickson and John B. Shoven

4716: Trade, Wages and Revolving Door Ideas

Edward Leamer

4715: Trade and Circuses: Explaining Urban Giants

Alberto F. Ades and Edward Glaeser

4714: Evidence on Growth, Increasing Returns and the Extent of the Market

Alberto F. Ades and Edward Glaeser

4713: Regional Adjustment to Trade Liberalization

Gordon Hanson

4712: U.S. Interest Allocation Rules: Effects and Policy

Rosanne Altshuler and Jack Mintz

4711: Convergence in the Age of Mass Migration

Alan Taylor and Jeffrey Williamson

4710: U.S. Foreign Trade and the Balance of Payments, 1800-1913

Robert Lipsey

4709: The U.S. Fiscal Problem: Where We Are, How We Got Here and Where We're Going

Alan Auerbach

4708: Alcohol Advertising and Motor Vehicle Fatalities

Henry Saffer

4707: The U-Shaped Female Labor Force Function in Economic Development and Economic History

Claudia Goldin

4706: A Semi-Classical Model of Price Level Adjustment

Bennett McCallum

4705: Recent Developments in the Marriage Tax

Daniel Feenberg and Harvey Rosen

4704: Executive Pay and Performance: Evidence from the U.S. Banking Industry

Robert Hubbard and Darius Palia

4703: The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data

Jason Cummins and Robert Hubbard

4702: Portfolio Inefficiency and the Cross-Section of Expected Returns

Shmuel Kandel and Robert Stambaugh

4701: How Much Did Capital Forbearance Add to the Cost of the S&L Insurance Mess

Edward Kane and Min-Teh Yu

4700: Information and the Demand for Supplemental Medicare Insurance

Paul Gertler, Roland Sturm and Bruce Davidson

4699: The Effects of Monetary Policy Shocks: Some Evidence from the Flow of Funds

Lawrence Christiano, Martin Eichenbaum and Charles Evans

4698: Shocks

John Cochrane

4697: Macroeconomic Stabilization in Latin America: Recent Experience and Some Sequencing Issues

Sebastian Edwards

4696: Measuring Industry Specific Protection: Antidumping in the United States

Robert Staiger and Frank A. Wolak

4695: Issues in the Industrial Organization of the Market for Physician Services

Martin Gaynor

4694: Can Foreign Aid Accelerate Stabilization?

Alessandra Casella and Barry Eichengreen

4693: Exchange Rate Dynamics Redux

Maurice Obstfeld and Kenneth Rogoff

4692: Monetary Policy Rules and Financial Stability

Bennett McCallum

4691: Outward Direct Investment and the U.S. Economy

Robert Lipsey

4690: Why Is There Corporate Taxation In a Small Open Economy? The Role of Transfer Pricing and Income Shifting

Roger Gordon and Jeffrey Mackie-Mason

4689: Taxes, Leverage and the National Return on Outbound Foreign Direct Investment

Martin Feldstein

4688: Why Do Wage Profiles Slope Upwards? Tests of the General Human Capital Model

David Neumark and Paul Taubman

4687: The Economics of Adjustment

Andrew Caplin and John Leahy

4686: Cross-Border Banking

Jonathan Eaton

4685: Accounting Standards, Information Flow, and Firm Investment Behavior

Jason Cummins, Trevor S. Harris and Kevin Hassett

4684: Wage Inequality and Industrial Change: Evidence from Five Decades

Chinhui Juhn

4683: Foreign Direct Investment, Employment Volatility and Cyclical Dumping

Joshua Aizenman

4682: International R&D Spillovers Between U.S. and Japanese R&D Intensive Sectors

Jeffrey Bernstein and Pierre Mohnen

4681: Policy, Technology Adoption, and Growth

William Easterly, Robert King, Ross Levine and Sergio Rebelo

4680: The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience

Alwyn Young

4679: Minimum Wage Effects on Employment and School Enrollment

David Neumark and William Wascher

4678: International Differences in Male Wage Inequality: Institutions versus Market Forces

Francine Blau and Lawrence Kahn

4677: A Sticky-Price Manifesto

Laurence Ball and N. Gregory Mankiw

4676: Reverse Engineering the Yield Curve

David Backus and Stanley Zin

4675: Factor Hoarding and the Propagation of Business Cycles Shocks

Craig Burnside and Martin Eichenbaum

4674: Developments in Collective Bargaining in Construction in the 1980s and 1990s

Steven Allen

4673: The Impact of Prenatal Exposure to Cocaine on Newborn Costs and Length of Stay

Ted Joyce, Andrew D. Racine, Sandra McCalla and Hassan Wehbeh

4672: The Changing Labor Market Position of Canadian Immigrants

David Bloom, Gilles Grenier and Morley Gunderson

4671: Quality Change and other Influences on Measures of Export Prices of Manufactured Goods and the Terms of Trade between Primary Products and Manufacture

Robert Lipsey

4670: Household Responses for Pricing Garbage by the Bag

Don Fullerton and Thomas Kinnaman

4669: Do Teachers' Race, Gender, and Ethnicity Matter?: Evidence from NELS88

Ronald Ehrenberg, Daniel D. Goldhaber and Dominic J. Brewer

4668: The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock

Martin Feldstein

4667: Do Repatriation Taxes Matter? Evidence from the Tax Returns of U.S. Multinationals

Rosanne Altshuler, T. Scott Newlon and William C. Randolph

4666: The Impact of Demographics on Housing and Non-Housing Wealth in the United States

Hilary Hoynes and Daniel McFadden

4665: The Consequences of Population Aging on Private Pension Fund Saving and Asset Markets

Sylvester J. Schieber and John B. Shoven

4664: Updated Notes on the Interindustry Wage Structure

Steven Allen

4663: The Impact of the Federal Reserve Bank's Open Market Operations

Campbell Harvey and Roger D. Huang

4662: Do Youths Substitute Alcohol and Marijuana? Some Econometric Evidence

Frank Chaloupka and Adit Laixuthai

4661: Fixed Exchange Rates, Inflation and Macroeconomic Discipline

Sebastian Edwards and Fernando J. Losada

4660: What Determines Expected International Asset Returns?

Campbell Harvey, Bruno Solnik and Guofu Zhou

4659: Balanced and Unbalanced Growth

James Rauch

4658: Sources of Real Exchange Rate Fluctuations: How Important are Nominal Shocks?

Richard Clarida and Jordi Galí

4657: A Test of the International CAPM Using Business Cycles Indicators as Instrumental Variables

Bernard Dumas

4656: On The Need For Fiscal Discipline in an Union

Joshua Aizenman

4655: Relative Returns on Equities in Pacific Basin Countries

Charles Engel and John Rogers

4654: Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion

Larry Lang, Annette Poulsen and René Stulz

4653: Intellectual Capital and the Birth of U.S. Biotechnology Enterprises

Lynne Zucker, Michael Darby and Marilynn B. Brewer

4652: Non-Leaky Buckets: Optimal Redistributive Taxation and Agency Costs

Karla Hoff and Andrew Lyon

4651: Explaining the Duration of Exchange-Rate Pegs

Michael Klein and Nancy Marion

4650: Is the Business Cycles a Necessary Consequence of Stochastic Growth?

Julio Rotemberg and Michael Woodford

4649: Health, Income, and Risk Aversion: Assessing Some Welfare Costs of Alcoholism and Poor Health

John Mullahy and Jody L. Sindelar

4648: The Federal Deposit Insurance Fund That Didn't Put A Bite on U.S. Tax Payers

Edward Kane and Robert Hendershott

4647: Did Computer Technology Diffuse Quickly?: Best and Average Practice in Mainframe Computers, 1968-1983

Shane Greenstein

4646: A Model of Research, Patenting, and Technological Change

Samuel Kortum

4645: International Portfolio Choice and Asset Pricing: An Integrative Survey

René Stulz

4644: Saving Babies: The Efficacy and Cost of Recent Expansions of Medicaid Eligibility for Pregnant Women

Janet Currie and Jonathan Gruber

4643: Measuring Business Cycles: A Modern Perspective

Francis Diebold and Glenn Rudebusch

4642: France and the Bretton Woods International Monetary System: 1960-1968

Michael Bordo, Dominique Simard and Eugene White

4641: Long-Run Convergence of Ethnic Skill Differentials

George Borjas

4640: The Logic of Currency Crises

Maurice Obstfeld

4639: Home Country Effects of Foreign Direct Investment: Evidence from Sweden

Magnus Blomstrom and Ari Kokko

4638: Economic Growth, Population Theory, and Physiology: The Bearing of Long-Term Processes on the Making of Economic Policy

Robert Fogel

4637: The Political Economy of Budget Deficits

Alberto Alesina and Roberto Perotti