NBER Working Papers

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4371: A Comparison of Formal and Informal Dispute Resolution in Medical Malpractice

Henry S. Farber and Michelle White

4370: How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth

Ricardo Caballero and Adam Jaffe

4369: Myopic Loss Aversion and the Equity Premium Puzzle

Shlomo Benartzi and Richard Thaler

4368: Unit Roots in Macroeconomic Time Series: Some Critical Issues

Bennett McCallum

4367: Macroeconomics After Two Decades of Rational Expectations

Bennett McCallum

4366: Resource Allocation During the Transition to a Market Economy: Political Implications of Supply Bottlenecks and Adjustment Costs

Joshua Aizenman and Peter Isard

4365: Wage Dispersion, Returns to Skill, and Black-White Wage Differentials

David Card and Thomas Lemieux

4364: Multilateral Tarriff Cooperation During the Formation of Regional Free Trade Areas

Kyle Bagwell and Robert Staiger

4363: Start-Up Costs and Pecuniary Externalities as Barriers to Economic Development

Antonio Ciccone and Kiminori Matsuyama

4362: Public Debt in the USA: How Much, How Bad and Who Pays?

Willem Buiter

4361: The Endogeneity of Exchange Rate Regimes

Barry Eichengreen

4360: Contrarian Investment, Extrapolation, and Risk

Josef Lakonishok, Robert Vishny and Andrei Shleifer

4359: Illicit Drug Use and Health: Analysis and Projections of New York City Birth Outcomes Using a Kalman Filter Model

Naci Mocan and Kudret Topyan

4358: Rents, Regulation, and Indirect Tax Design

Carlo Perroni and John Whalley

4357: Equilibrium Unemployment as a Worker Screening Device

Barry Nalebuff, Andres Rodriguez and Joseph Stiglitz

4356: Do Historically Black Institutions of Higher Education Confer Unique Advantages on Black Students: An Initial Analysis

Ronald Ehrenberg and Donna S. Rothstein

4355: Currency Hedging over Long Horizons

Kenneth Froot

4354: Economic Growth and Decline with Endogenous Property Rights

Aaron Tornell

4353: The Political Economy of Capital Controls

Alberto Alesina, Vittorio Grilli and Gian Maria Milesi-Ferretti

4352: Free Trade Agreements as Protectionist Devices: Rules of Origin

Anne O. Krueger

4351: The Political Economy of Controls: Complexity

Anne O. Krueger and Roderick Duncan

4350: On the Feasibility of a One or Multi-Speed European Monetary Union

Alberto Alesina and Vittorio Grilli

4349: International Comparisons of Educational Attainment

Robert Barro and Jong-Wha Lee

4348: The Minimum Wage and the Employment of Youth: Evidence from the NLSY

Janet Currie and Bruce Fallick

4347: A Model of Target Changes and the Term Structure of Interest Rates

Pierluigi Balduzzi, Giuseppe Bertola and Silverio Foresi

4346: Do Hostile Takeovers Reduce Extramarginal Wage Payments?

Jagadeesh Gokhale, Erica Groshen and David Neumark

4345: The Political Economy of Immigration Restriction in the United States, 1890 to 1921

Claudia Goldin

4344: Consumer Response to the Timing of Income: Evidence from a Change in Tax Withholding

Matthew Shapiro and Joel Slemrod

4343: Bringing GATT into the Core

Carsten Kowalczyk and Tomas Sjostrom

4342: Federal Reserve Policy: Cause and Effect

Matthew Shapiro

4341: Losers and Winners in Economic Growth

Robert Barro and Jong-Wha Lee

4340: Internationally Diversified Bond Portfolios: The Merits of Active Currency Risk Management

Richard M. Levich and Lee R. Thomas

4339: Public Sector Growth and Labor Market Flexibility: The United States vs. The United Kingdom

Rebecca Blank

4338: Evaluating the Connection Between Social Protection and Economic Flexib ility

Rebecca Blank and Richard Freeman

4337: Anti-Tax Revolutions and Symbolic Prosecutions

Holger C. Wolf

4336: Convergence in Growth Rates: A Quantitative Assessment of the Role of Capital Mobility and International Taxation

Assaf Razin and Chi-Wa Yuen

4335: Emerging Currency Blocs

Jeffrey Frankel and Shang-Jin Wei

4334: The Dynamic-Optimizing Approach to the Current Account: Theory and Evidence

Assaf Razin

4333: Keeping People Out: Income Distribution, Zoning and the Quality of Public Education

Raquel Fernandez and Richard Rogerson

4332: Demographic Factors and Real House Prices

Richard Green and Patric Hendershott

4331: U.S. Manufacturing and an Emerging Mexico

Edward Leamer and Chauncey J. Medberry

4330: Saving, Growth, and Aging in Taiwan

Angus Deaton and Christina Paxson

4329: Where do Betas Come From? Asset Price Dynamics and the Sources of Systematic Risk

John Campbell and Jianping Mei

4328: Intertemporal Choice and Inequality

Angus Deaton and Christina Paxson

4327: Determinants of Young Male Schooling and Training Choices

Stephen V. Cameron and James Heckman

4326: Historical Perspectives on the Monetary Transmission Mechanism

Jeffrey Miron, Christina Romer and David Weil

4325: The Dollar and the Trade Deficit in the 1980s: A Personal View

Martin Feldstein

4324: Government Spending and Budget Deficits in the 1980s: A Personal View

Martin Feldstein

4323: Tax Policy in the 1980s: A Personal View

Martin Feldstein

4322: Monetary Policy and Inflation in the 1980s: A Personal View

Martin Feldstein

4321: Environmental Regulation and Manufacturing Productivity at the Plant Level

Wayne Gray and Ron Shadbegian

4320: Exchange Rates, Inflation and Disinflation: Latin American Experiences

Sebastian Edwards

4319: The Political Economy of Infaliton and Stabilization in Developing Countries

Sebastian Edwards

4318: Dynamic Efficiency in the Gifts Economy

Stephen O'Connell and Stephen Zeldes

4317: Monetary Policy and Bank Lending

Anil Kashyap and Jeremy Stein

4316: Poison or Placebo? Evidence on the Deterrent and Wealth Effects of Modern Antitakeover Measures

Robert Comment and G. Schwert

4315: Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing

James Dow and Gary Gorton

4314: Arbitrage Chains

James Dow and Gary Gorton

4313: Productivity and the Density of Economic Activity

Antonio Ciccone and Robert Hall

4312: Does History Matter Only When it Matters Little? The Case of City-Indu try Location

James Rauch

4311: Heterogeneity, Stratification, and Growth

Roland Benabou

4310: The Gold Standard, Bretton Woods and other Monetary Regimes: An Historical Appraisal

Michael Bordo

4309: Production, Financial Structure and Productivity Growth in U.S. Manufacturing

Jeffrey Bernstein and M. Ishaq Nadiri

4308: Are Industrial-Country Consumption Risks Globally Diversified?

Maurice Obstfeld

4307: Employer Provided Health Insurance and Retirement Behavior

Alan Gustman and Thomas L. Steinmeier

4306: What Determines the Sacrifice Ratio?

Laurence Ball

4305: The Equity of Social Services Provided to Children and Senior Citizens

Laurence Kotlikoff and Jagadeesh Gokhale

4304: The Use of Monetary Aggregate to Target Nominal GDP

Martin Feldstein and James Stock

4303: Measuring Core Inflation

Michael F. Bryan and Stephen Cecchetti

4302: Policy Options for Long-Term Care

David Cutler and Louise M. Sheiner

4301: Why Doesn't the Market Fully Insure Long-Term Care?

David Cutler

4300: The Incidence of Adverse Medical Outcomes Under Prospective Payments

David Cutler

4299: Human Capital and the Income Tax

Louis Kaplow

4298: Does Foreign Exchange Intervention Signal Future Monetary Policy?

Graciela Kaminsky and Karen Lewis

4297: A Comparison of Changes in the Structure of Wages

Lawrence Katz, Gary W. Loveman and David Blanchflower

4296: A Unified Model of Investment Under Uncertainty

Andrew Abel and Janice Eberly

4295: The Role of Pensions in the Labor Market

Alan Gustman, Olivia Mitchell and Thomas L. Steinmeier

4294: The Constrained Asset Share Estimation (CASE) Method: Testing Mean-Variance Efficiency of the U.S. Stock Market

Charles Engel, Jeffrey Frankel, Kenneth Froot and Anthony Rodrigues

4293: Did Teachers' Race and Verbal Ability Matter in the 1960's? Coleman Revisited

Ronald Ehrenberg and Dominic Brewer

4292: German and American Wage and Price Dynamics: Differences and Common Thenes

Wolfgang Franz and Robert Gordon

4291: The Determinants of Realignment Expectations Under the EMS: Some Empirical Regularities

Zhaohui Chen and Alberto Giovannini

4290: Optimal Insurance Contracts When Establishing The Amount of Losses is Costly

Louis Kaplow

4289: Policies to Encourage Inflows of Technology Through Foreign Multinationals

Magnus Blomstrom and Ari Kokko

4288: Internal Finance and Investment: Evidence from the Undistributed Profits Tax of 1936-1937

Charles Calomiris and Robert Hubbard

4287: Accuracy in the Assessment of Damages

Louis Kaplow and Steven Shavell

4286: Endogenous Growth and Cycles

Joseph Stiglitz

4285: How Important is the Credit Channel in the Transmission of Monetary Policy?

Valerie Ramey

4284: Medicaid and Medical Care for Children

Janet Currie and Duncan Thomas

4283: Demographic Characteristics and the Public Bundle

David Cutler, Douglas Elmendorf and Richard Zeckhauser

4282: An Analysis of Factors Influencing ITC Decisions in Antidumoing, Countervailing Duty and Safeguard Cases

Robert Baldwin and Jeffrey Steagall

4281: The Economic Consequences of Legislative Oversight: Theory and Evidencefrom the Medical Profession

Shawn Kantor and Patrick Legros

4280: Trade Wars and Trade Talks

Gene Grossman and Elhanan Helpman

4279: Gender Differences in Departure from a Large Firm

Nachum Sicherman

4278: Youth Alcohol Use and Public Policy

Adit Laixuthai and Frank Chaloupka

4277: Criminal Deterrence: Revisiting the Issue with a Birth Cohort

Helen Tauchen, Ann Dryden Witte and Harriet Griesinger

4276: 'Outside' Intervention in Japanese Companies: Its Determinants and Implications for Mangers

Steven Kaplan and Bernadette Minton

4275: Stochastic Trends and Short-Run Relationships Between Financial Variables and Real Activity

Toru Konishi, Valerie Ramey and Clive Granger

4274: Princes and Merchants: European City Growth before the Industrial Revolution

J. Bradford De Long and Andrei Shleifer

4273: The Design of Bank Loan Contracts, Collateral, and Renegotiation

Gary Gorton and James Kahn

4272: Generics and New Goods in Pharmaceutical Price Indexes

Zvi Griliches and Iain Cockburn