NBER Working Papers

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4006: Inflation and Poverty

Eliana Cardoso

4005: Business Cycle Durations and Postwar Stabilization of the U.S. Economy

Mark Watson

4004: Asset Bubbles and Endogenous Growth

Noriyuki Yanagawa and Gene Grossman

4003: Peso Problems and Heterogeneous Trading: Evidence From Excess Returns in Foreign Exchange and Euromarkets

Martin Evans and Karen Lewis

4002: Self-Selection and Internal Migration in the United States

George Borjas, Stephen Bronars and Stephen Trejo

4001: Bretton Woods and Its Precursors: Rules Versus Discretion in the History of International Monetary Regimes

Alberto Giovannini

4000: The Flow Approach to Labor Markets

Olivier Blanchard and Peter Diamond

3999: Taxation and Inequality: A Time-Exposure Perspective

Joel Slemrod

3998: Privatization in East Germany

Hans-Werner Sinn

3997: The Effect of the Minimum Wage on the Fast Food Industry

Lawrence Katz and Alan Krueger

3996: Local Versus Global Convergence Across National Economies

Steven Durlauf and Paul Johnson

3995: Why Does the Stock Market Fluctuate?

Robert Barsky and J. Bradford De Long

3994: Human Capital Accumulation and Income Distribution

Raquel Fernandez and Richard Rogerson

3993: Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations

Adam Jaffe, Manuel Trajtenberg and Rebecca Henderson

3992: Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty

Olivier Blanchard and Philippe Weil

3991: Wage Effects of A U.S. - Mexican Free Trade Agreement

Edward Leamer

3990: The Cowles Commission Approach, Real Business Cycle Theories, and New Keynesian Economics

Ray Fair

3989: Intertemporal Asset Pricing Without Consumption Data

John Campbell

3988: Forward Into the Past: Productivity Retrogression in the Electric Generating Industry

Robert Gordon

3987: The Consequences and Costs of Maternal Substance Abuse in New York City

Ted Joyce, Andrew D. Racine and Naci Mocan

3986: Transitional Dynamics in Two-Sector Models of Endogenous Growth

Casey Mulligan and Xavier Sala-i-Martin

3985: Pensions and Wage Premia

Edward Montgomery and Kathryn Shaw

3984: Do Tougher Licensing Provisions Limit Occupational Entry? The Case of Dentistry

Morris M. Kleiner and Robert T. Kudrle

3983: Disinflation With Imperfect Credibility

Laurence Ball

3982: Price Margins and Capital Adjustment: Canadian Mill Products and Pulp and Paper Industries

Jeffrey Bernstein

3981: State Infrastructure and Productive Performance

Catherine Morrison Paul and Amy Schwartz

3980: Sectoral Shifts and Unemployment in Interwar Britain

S. Lael Brainard

3979: Information Spillovers, Margins, Scale and Scope: With an Application to Canadian Life Insurance

Jeffrey Bernstein

3978: The Impact of Collective Bargaining Legislation on Disputes in the U.S. Public Sector: No Policy May Be the Worst Policy

Janet Currie and Sheena McConnell

3977: The Dynamics of Productivity in the Telecommunications Equipment Industry

G. Steven Olley and Ariel Pakes

3976: Precautionary Saving and Consumption Smoothing Across Time and Possibilities

Miles Kimball and Philippe Weil

3975: Equilibrium Asset Prices With Undiversifiable Labor Income Risk

Philippe Weil

3974: Liquidity Effects and the Monetary Transmission Mechanism

Lawrence Christiano and Martin Eichenbaum

3973: The Fall in Private Pension Coverage in the U.S

David Bloom and Richard Freeman

3972: The Intergenerational Mobility of Immigrants

George Borjas

3971: Growth Accounting When Technical Change is Embodied in Capital

Charles R. Hulten

3970: What is Productivity: Capacity or Welfare Management?

Charles R. Hulten

3969: Measuring the Aggregate Price Level: Implications For Economic Performance and Policy

Robert Gordon

3968: Menus of Linear Income Tax Schedules

Alberto Alesina and Philippe Weil

3967: On the Design and Reform of Capital Gains Taxation

Alan Auerbach

3966: The Budget and Trade Deficits Aren't Really Twins

Martin Feldstein

3965: Twenty-two Years of the NBER-ASA Quarterly Economic Outlook Surveys: Aspects and Comparisons of Forecasting Performance

Victor Zarnowitz and Phillip Braun

3964: Rising Inequality? Changes in the Distribution of Income and Consumption in the 1980s

David Cutler and Lawrence Katz

3963: Taxation and Housing: Old Questions, New Answers

James Poterba

3962: Social Security Rules and Marginal Tax Rates

Martin Feldstein and Andrew Samwick

3961: Bank Exposure, Capital and Secondary Market Discounts on the Developing Country Debt

Sule Ozler and Harry Huizinga

3960: External Shocks, Politics and Private Investment: Some Theory and Empirical Evidence

Sule Ozler and Dani Rodrik

3959: Have Commercial Banks Ignored History?

Sule Ozler

3958: A Model of the Optimal Complexity of Rules

Louis Kaplow

3957: Testing Trade Theory

Edward Leamer

3956: Exploring the Relationship Between R&D and Productivity in French Manufacturing Firms

Bronwyn H. Hall and Jacques Mairesse

3955: Estimating Expected Exchange Rates Under Target Zones

Zhaohui Chen and Alberto Giovannini

3954: Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model

Zvi Bodie, Robert Merton and William F. Samuelson

3953: Exchange Rate Flexibility, Volatility, and the Patterns of Domestic and Foreign Direct Investment

Joshua Aizenman

3952: Is Arbitration Addictive? Evidence From the Laboratory and the Field

Janet Currie and Henry S. Farber

3951: The Role of International Organizations in the Bretton Woods System

Kathryn Dominguez

3950: Is There a Conflict Between EC Enlargement and European Monetary Unification?

Tamim Bayoumi and Barry Eichengreen

3949: Shocking Aspects of European Monetary Unification

Tamim Bayoumi and Barry Eichengreen

3948: Convergence and Growth Linkages Between North and South

John F. Helliwell and Alan Chung

3947: The Rush to Free Trade in the Developing World: Why So Late? Why Now? Will it Last?

Dani Rodrik

3946: How Pervasive is the Product Cycle? The Empirical Dynamics of American and Japanese Trade Flows

Joseph Gagnon and Andrew Rose

3945: Tax Policy and Urban Development: Evidence From The Indiana Enterprise Zone Program

Leslie Papke

3944: The Debt Burden and Debt Maturity

Alessandro Missale and Olivier Blanchard

3943: The Adjustment Mechanism

Maurice Obstfeld

3942: Anatomy of Financial Distress: An Examination of Junk-Bond Issuers

Paul Asquith, Robert Gertner and David Scharfstein

3941: Fiscal Federalism in Europe: Lessons From the United States Experience

Robert P. Inman and Daniel L. Rubinfeld

3940: Why Didn't the Tax Reform Act of 1986 Raise Corporate Taxes?

James Poterba

3939: The Structure of Production, Technical Change and Efficiency in a Multiproduct Industry: An Application to U.S. Airlines

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

3938: Individual Retirement Accounts: A Review of the Evidence

Jonathan Skinner

3937: Revisions and Investment Plans and the Stock Market Rate of Return

Mark Schankerman

3936: Openness and Inflation: Theory and Evidence

David Romer

3935: Errors in Output Deflators Revisited: Unit Values and the PPI

Donald Siegel

3934: Anatomy of a Financial Crisis

Frederic Mishkin

3933: Local House Price Indexes: 1982-1991

Donald Haurin, Patric Hendershott and Dongwook Kim

3932: Consumption Taxes in a Life-Cycle Framework: Are Sin Taxes Regressive?

Andrew Lyon and Robert M. Schwab

3931: How Long do Unilateral Target Zones Last?

Bernard Dumas and Lars E.O. Svensson

3930: On the Sensitivity of R&D to Delicate Tax Changes: The Behavior of U.S. Multinationals in the 1980s

James R. Hines, Jr.

3929: How Does It Matter?

Benjamin M. Friedman

3928: The Appointment-Book Problem and Commitment, With Applications to Refereeing and Medicine

Daniel S. Hamermesh

3927: Changes in Relative Wages, 1963-1987: Supply and Demand Factors

Lawrence Katz and Kevin Murphy

3926: Labor Market Institutions, Liquidity Constraints, and Macroeconomic Stability

Frank Lichtenberg

3925: The Effects of U.S. Tax Policy on the Income Repatriation Patterns of U.S. Multinational Corporations

Rosanne Altshuler and T. Scott Newlon

3924: Income Shifting in U.S. Multinational Corporations

David Harris, Randall Morck, Joel Slemrod and Bernard Yeung

3923: Organizational Failure and Government Transfers: Evidence From an Experiment in the Financing of Mental Health Care

Richard G. Frank and Martin Gaynor

3922: The Cleansing Effect of Recessions

Ricardo Caballero and Mohamad L. Hammour

3921: Bank Runs: Liquidity and Incentives

Russell Cooper and Thomas Ross

3920: Identification and the Liquidity Effect of a Monetary Policy Shock

Lawrence Christiano and Martin Eichenbaum

3919: Speculative Attacks and Models of Balance-of-Payments Crises

Pierre-Richard Agénor, Jagdeep S. Bhandari and Robert Flood

3918: Devaluation Expectations: The Swedish Krona 1982-1991

Hans Lindberg, Lars E.O. Svensson and Paul Soderlind

3917: The Currency Reform as the Last Stage of Economic and Monetary Union: Some Policy Questions

Alberto Giovannini

3916: The Impact of Terms of Trade Shocks on a Small Open Economy: A Stochastic Analysis

Stephen J Turnovsky

3915: Social Security and Medicare Policy From the Perspective of Generational Accounting

Alan Auerbach, Jagadeesh Gokhale and Laurence Kotlikoff

3914: Environmental Impacts of a North American Free Trade Agreement

Gene Grossman and Alan Krueger

3913: Borrowing Constraints and Two-Sided Altruism With an Application to Social Security

David Altig and Steven Davis

3912: Estimating the Effect of Training on Employment and Unemployment Durations: Evidence From Experimental Data

John C. Ham and Robert LaLonde

3911: Do Bulls and Bears Move Across Borders? International Transmission of Stock Returns and Volatility as the World Turns

Wen-Ling Lin, Robert Engle and Takatoshi Ito

3910: Are Option-Implied Forecasts of Exchange Rate Volatility Excessively Variable?

Shang-Jin Wei and Jeffrey Frankel

3909: Alcoholism, Work, and Income Over the Life Cycle

John Mullahy and Jody L. Sindelar

3908: Pension COLAs

Alan Gustman and Thomas L. Steinmeier

3907: Liquidity Constraints and Intertemporal Consumer Optimization: Theory and Evidence From Durable Goods

Eun Young Chah, Valerie Ramey and Ross M. Starr