NBER Working Papers

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4536: Market Structure and International Trade: Business Groups in East Asia

Robert Feenstra, Tzu-Han Yang and Gary G. Hamilton

4535: The Efficiency Cost of Increased Progressivity

Robert Triest

4534: International Capital Mobility in the 1990s

Maurice Obstfeld

4533: Information and Economic Efficiency

Richard Arnott, Bruce Greenwald and Joseph Stiglitz

4532: Does Central Bank Intervention Increase the Volatility of Foreign Exchange Rates?

Kathryn Dominguez

4531: Collateral Damage: How Refinancing Constraints Exacerbate Regional Recessions

Andrew Caplin, Charles Freeman and Joseph Tracy

4530: Aging in Germany and the United States: International Comparisons

Axel Borsch-Supan

4529: Estimating Sectoral Cycles Using Cointegration and Common Features

Robert Engle and João Issler

4528: An Evaluation of Recent Evidence on the Employment Effects of Minimum and Subminimum Wages

David Card, Lawrence Katz and Alan Krueger

4527: Endogenous Innovation in the Theory of Growth

Gene Grossman and Elhanan Helpman

4526: Entrepreneurial Decisions and Liquidity Constraints

Douglas Holtz-Eakin, David Joulfaian and Harvey Rosen

4525: On the Optimal Taxation of Capital Income

Larry Jones, Rodolfo Manuelli and Peter Rossi

4524: A Revealed Preference Analysis of Asset Pricing Under Recursive Utility

Larry Epstein and Angelo Melino

4523: Growth and the Effects of Inflation

Larry Jones and Rodolfo Manuelli

4522: Currency Option Pricing in Credible Target Zones

Bernard Dumas, Peter Jennergren and Bertil Naslund

4521: The Economic Reality of the Beauty Myth

Susan Averett and Sanders Korenman

4520: A Test of Efficiency for the S&P Index Option Market Using Variance Forecasts

Jaesun Noh, Robert Engle and Alex Kane

4519: Index-Option Pricing with Stochastic Volatility and the Value of Accurate Variance Forecasts

Robert Engle, Alex Kane and Jaesun Noh

4518: Beauty and the Labor Market

Daniel Hamermesh and Jeff Biddle

4517: Short-Run Independence of Monetary Policy Under Pegged Exchange Rates and Effects of Money on Exchange Rates and Interest Rates

Alan Stockman and Lee Ohanian

4516: The Importance of Precautionary Motives in Explaining Individual and Aggregate Saving

Robert Hubbard, Jonathan Skinner and Stephen Zeldes

4515: A Small Open Economy in Depression: Lessons from Canada in the 1930s

Caroline Betts, Michael Bordo and Angela Redish

4514: Short-Term Contracts as a Monitoring Device

Patrick Rey and Joseph Stiglitz

4513: Discrete Plant-Location Decisions in an Applied General-Equilibrium Model of Trade Liberalization

James Markusen and Thomas Rutherford

4512: Anti-Competitive and Rent-Shifting Aspects of Domestic-Content Provisions in Regional Trade Blocks

Florencio Lopez- de-Silane, James Markusen and Thomas Rutherford

4511: Trade Policy, Exchange Rates and Growth

Sebastian Edwards

4510: Privatization of Social Security: Lessons from Chile

Peter Diamond

4509: Minimum Wages and Employment: A Case Study of the Fast Food Industry in New Jersey and Pennsylvania

David Card and Alan Krueger

4508: The Selection Hypothesis and the Relationship between Trial and Plaintiff Victory

Joel Waldfogel

4507: Optimal Awards and Penalties when the Probability of Prevailing Varies Among Plaintiffs

A. Mitchell Polinsky and Daniel L. Rubinfeld

4506: International Capital Mobility, Public Investment and Economic Growth

Richard Clarida

4505: The Consumer Price Index as a Measure of Inflation

Michael F. Bryan and Stephen Cecchetti

4504: Fixed Exchange Rates as a Means to Price Stability: What Have We Learned

Lars Svensson

4503: Fixing Exchange Rates: A Virtual Quest for Fundamentals

Robert Flood and Andrew Rose

4502: Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets

Julio Rotemberg and Michael Woodford

4501: Did 401(k) Plans Replace Other Employer Provided Pensions?

Leslie Papke, Mitchell Petersen and James Poterba

4500: The Dependent Economy Model with Both Traded and Non-Traded Capital Goods

Philip L. Brock and Stephen J Turnovsky

4499: Fiscal Policy and Economic Growth: An Empirical Investigation

William Easterly and Sergio Rebelo

4498: Fiscal Anarchy in the U.K.: Modelling Poll Tax Noncompliance

Timothy Besley, Ian Preston and Michael Ridge

4497: The Impact of Alcohol Consumption and Marijuana Use on High School Graduation

Tetsuji Yamada, Michael Kendix and Tadashi Yamada

4496: The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the1986 Tax Reform Act

Martin Feldstein

4495: European Exchange Rate Credibility Before the Fall

Andrew Rose and Lars Svensson

4494: Sticking it Out: Entrepreneurial Survival and Liquidity Constraints

Douglas Holtz-Eakin, David Joulfaian and Harvey Rosen

4493: International Business Cycles: Theory and Evidence

David Backus, Patrick Kehoe and Finn Kydland

4492: Small Business and Job Creation: Dissecting the Myth and Reassessing theFacts

Steven Davis, John Haltiwanger and Scott Schuh

4491: Estimates of the Returns to Schooling From Sibling Data: Fathers, Sons and Brothers

Orley Ashenfelter and David Zimmerman

4490: Optimal Fiscal Policy in a Business Cycle Model

Varadarajan Chari, Lawrence Christiano and Patrick Kehoe

4489: Dynamic Pricing in Retail Gasoline Markets

Severin Borenstein and Andrea Shepard

4488: Population Increase, Extralegal Appropriation, and the End of Colonialism

Herschel Grossman and Murat Iyigun

4487: Measuring Noise in Inventory Models

Steven Durlauf and Louis Maccini

4486: Income Distribution, Political Instability, and Investment

Alberto Alesina and Roberto Perotti

4485: Credit Channel or Credit Actions? An Interpretation of the Postwar Transmission Mechanism

Christina Romer and David Romer

4484: Self-Defeating Regional Concentration

Kiminori Matsuyama and Takaaki Takahashi

4483: Using Geographic Variation in College Proximity to Estimate the Return to Schooling

David Card

4482: Lessons from the East Asian NICs: A Contrarian View

Alwyn Young

4481: Could Stable Money Have Averted The Great Contraction?

Michael Bordo, Ehsan Choudhri and Anna Schwartz

4480: Subjective Performance Measures in Optimal Incentive Contracts

George Baker, Robert Gibbons and Kevin Murphy

4479: Limited Insurance Portability and Job Mobility: The Effects of Public Policy on Job-Lock

Jonathan Gruber and Brigitte Madrian

4478: Trade, Jobs, and Wages

Paul Krugman and Robert Lawrence

4477: Intergenerational Transfers, Aging, and Uncertainty

David Weil

4476: Employment-Based Health Insurance and Job Mobility: Is There Evidence of Job-Lock?

Brigitte Madrian

4475: Patent Protection: Of What Value and for How Long?

Jean Lanjouw

4474: Good Policy or Good Luck? Country Growth Performance and Temporary Shocks

William Easterly, Michael Kremer, Lant Pritchett and Lawrence Summers

4473: Better Late Than Early: Vertical Differentiation in the Adoption of a New Technology

Prajit K. Dutta, Saul Lach and Aldo Rustichini

4472: Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment

Giuseppe Bertola and Ricardo Caballero

4471: Tests of Microstructural Hypotheses in the Foreign Exchange Market

Richard Lyons

4470: Saving and Growth: A Reinterpretation

Christopher Carroll and David Weil

4469: Health Insurance Availability and the Retirement Decision

Jonathan Gruber and Brigitte Madrian

4468: Firms' Use of Outside Contractors: Theory and Evidence

Katharine Abraham and Susan K. Taylor

4467: Optimal Transparency in a Dealership Market with an Application to Foreign Exchange

Richard Lyons

4466: Scale, Scope and Spillovers: The Determinants of Research Productivity in the Pharmaceutical Industry

Rebecca Henderson and Iain Cockburn

4465: A Domino Theory of Regionalism

Richard Baldwin

4464: Getting Together and Breaking Apart: The Decline of Centralised Collective Bargaining

Richard Freeman and Robert Gibbons

4463: Competitive Diffusion

Boyan Jovanovic and Glenn MacDonald

4462: The Effect of Labor Market Rigidities on the Labor Force Behavior of Older Workers

Michael Hurd

4461: Bilateral Search as an Explanation for Labor Market Segmentation and Other Anomalies

Kevin Lang and William T. Dickens

4460: Uncertain Demand, The Structure of Hospital Costs, and the Cost of EmptyHospital Beds

Martin Gaynor and Gerard F. Anderson

4459: The World Price of Foreign Exchange Risk

Bernard Dumas and Bruno Solnik

4458: Realignment Risk and Currency Option Pricing in Target Zones

Bernard Dumas, Peter Jennergren and Bertil Naslund

4457: The Efficiency of the Legal System versus the Income Tax in Redistributing Income

Louis Kaplow and Steven Shavell

4456: Zoning and the Political Economy of Local Redistribution

Raquel Fernandez and Richard Rogerson

4455: Diffusion Lags and Aggregate Fluctuations. New Name: Product Innovation and the Business Cycle

Boyan Jovanovic and Saul Lach

4454: A Cohort Analysis of Saving Behavior by U.S. Households

Orazio Attanasio

4453: Consumption over the Life Cycle and over the Business Cycle

Orazio Attanasio and Martin Browning

4452: New Goods, Old Theory, and the Welfare Costs of Trade Restrictions

Paul Romer

4451: Do Low-Income Countries have a High-Wage Option?

Dani Rodrik

4450: Independent Living and Homeownership: An Analysis of Australian Youth

Steven Bourassa, Donald Haurin, R. Jean Haurin and Patric Hendershott

4449: Specification and Analysis of a Monetary Policy Rule for Japan

Bennett McCallum

4448: Credibility of Policies versus Credibility of Policymakers

Allan Drazen and Paul Masson

4447: Lawyers as Agents of the Devil in a Prisoner's Dilemma Game

Orley Ashenfelter and David Bloom

4446: Partial- Vs. General-Equilibrium Models of the International Capital Market

Bernard Dumas

4445: Trade Blocs, Currency Blocs and the Disintegration of World Trade in the 1930s

Barry Eichengreen and Douglas Irwin

4444: International R&D Spillovers

David Coe and Elhanan Helpman

4443: Optimality of the Friedman Rule in Economies with Distorting Taxes

Varadarajan Chari, Lawrence Christiano and Patrick Kehoe

4442: The Term Structure of Forward Exchange Premia and the Forecastibility of Spot Exchange Rates: Correcting the Errors

Richard Clarida and Mark Taylor

4441: The Life-Cycle of a Competitive Industry

Boyan Jovanovic and Glenn MacDonald

4440: Equity and Nonequity Determinants of FHA Single-Family Mortgage Foreclosures in the 1980s

Patric Hendershott and William R. Schultz

4439: Nominal Income Targeting

Robert Hall and N. Gregory Mankiw

4438: International Evidence on Tradables and Nontradable Inflation

Jose De Gregorio and Alberto Giovannini

4437: Permanent Income, Import Prices, and the Demand for Imported Consumer Durbales: A Structural Econometric Investigation

Richard Clarida