NBER Working Papers

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3106: An Equilibrium Theory of Excess Volatility and Mean Reversion in Stock Market Prices

Alan Marcus

3105: A Shred of Evidence on Theories of Wage Stickiness

Alan Blinder and Don H. Choi

3104: The Fisherian Time Preference and the Ebolution of Capital Ownership Patterns in a Global Economy

Kyoji Fukao and Koichi Hamada

3103: World Integration, Competitive and Bargaining Regimes Switch: an Exploration

Joshua Aizenman

3102: Inflationary Expectations and Price Setting Behavior

Ray Fair

3101: Pension Funds and Financial Innovation

Zvi Bodie

3100: The McKibbin-Sachs Global Model: Theory and Specifications

Warwick McKibbin and Jeffrey D. Sachs

3099: Quality Ladders in the Theory of Growth

Gene Grossman and Elhanan Helpman

3098: Increasing Returns and New Developments in the Theory of Growth

Paul Romer

3097: The Comparative Performance of Fixed and Flexible Exchange Rate Regimes: Interwar Evidence

Barry Eichengreen

3096: The Capital Levy in Theory and Practice

Barry Eichengreen

3095: The Effects of Changes in Tax Laws on Corporate Reorganization Activity

Myron Scholes and Mark A. Wolfson

3094: Employee Stock Ownership Plans and Corporate Restructuring: Myths and Realities

Myron Scholes and Mark A. Wolfson

3093: Decentralized Investment Banking: The Case of Discount Dividend-Reinve stment and Stock-Purchase Plans

Myron Scholes and Mark A. Wolfson

3092: Converting Corporations to Partnerships through Leverage: Theoretical and Practical Impediments

Myron Scholes and Mark A. Wolfson

3091: Intrinsic Bubbles: The Case of Stock Prices

Kenneth Froot and Maurice Obstfeld

3090: Consumption Growth Parallels Income Growth: Some New Evidence

Christopher Carroll and Lawrence Summers

3089: Incentive Effects of Workers' Compensation Insurance

Alan Krueger

3088: Financial Integration, Liquidity and Exchange Rates

Vittorio Grilli and Nouriel Roubini

3087: Changing the Social Security Rules for Workers over 65: Proposed Policies and Their Effects

Alan Gustman and Thomas L. Steinmeier

3086: The Stampede Toward Defined Contribution Pension Plans: Fact or Fiction?

Alan Gustman and Thomas L. Steinmeier

3085: Evaluating Pension Policies in a Model with Endogeous Contributions

Alan Gustman and Thomas L. Steinmeier

3084: Explaining Pension Dynamics

Rebecca A. Luzadis and Olivia Mitchell

3083: Collateral, Rationing and Government Intervention in Credit Markets

William Gale

3082: Health Benefits of Increases in Alcohol and Cigarette Taxes

Michael Grossman

3081: Wage and Employment Uncertainty and the Labor Force Participation Decisions of Married Women

Francine Blau and Adam Grossberg

3080: Optimal Incentives to Domestic Investment in the Presence of Capital Flight

Assaf Razin and Efraim Sadka

3079: Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships

Takeo Hoshi, Anil Kashyap and David Scharfstein

3078: Tax Compliance: An Investigation Using Individual TCMP Data

Helen V. Tauchen, Ann Dryden Witte and Kurt J. Beron

3077: Economic and Financial Determinants of Oil and Gas Exploration Activity

Peter C. Reiss

3076: Distance, Demand, and Oligopoly Pricing

Robert Feenstra and James Levinsohn

3075: Israel's Crisis and Economic Reform: A Historical Perspective

Michael Bruno

3074: Consistent Valuation and Cost of Capital Expressions with Corporate and Personal TAxes

Robert A. Taggart, Jr.

3073: Election Polls, Free Trade, and the Stock Market: Evidence from the Canadian General Election

James Brander

3072: Moderating Elections

Alberto Alesina and Howard Rosenthal

3071: Trade Adjustment Assistance: Welfare and Incentive Effects of Payments to Displaced Workers

James Brander and Barbara Spencer

3070: Taxation of Foreign-Owned Land

James Brander

3069: The Impact of the Mariel Boatlift on the Miami Labor Market

David Card

3068: Managing Exchange Rate Crises: Evidence from the 1890's

Vittorio Grilli

3067: Nominal Exchange Rate Regimes and the Real Exhange Rate, Evidence from the U.S. and Britain, 1885-1986

Vittorio U. Grilli and Graciela Kaminsky

3066: Endogenous Exchange Rate Regime Switches

Gabriel de Koch and Vittorio Grilli

3065: Firms' Choice of Method of Pay

Charles Brown

3064: What is the Marginal Source of Funds for Foreign Investment?

Joosung Jun

3063: How Rational Is the Purchase of Life Insurance?

Alan Auerbach and Laurence Kotlikoff

3062: Specific Versus General Enforcement of Law

Steven Shavell

3061: A Note on Optimal Deterrence When Individuals Choose Among Harmful Acts

Steven Shavell

3060: Interest Rate Term Premiums and the Failure of the Speculative Efficiency Hypothesis: A Theoretical Investigation

Carol Osler

3059: Judging Factor Abundance

Harry Bowen and Leo Sveikauskas

3058: The Politics of Intergenerational Redistribution

Guido Tabellini

3057: Recent Trade Liberalization in the Developing World: What is Behind It, and Where is it Headed?

John Whalley

3056: Taxing International Income: An Analysis of the U.S. System and Its Economic Premises

David Bradford and Hugh J. Ault

3055: Synthetic Eurocurrency Interest Rate Futures Contracts: Theory and Evidence

Annie Koh and Richard M. Levich

3054: Optimal Advice for Monetary Policy

Susanto Basu, Miles Kimball, N. Gregory Mankiw and David Weil

3053: Why are Stabilizations Delayed?

Alberto Alesina and Allan Drazen

3052: Alcohol Advertising Bans and Alcohol Abuse: An International Perspective

Henry Saffer

3051: Testing for Contracting Effects on Employment

Mark Bils

3050: Cyclical Pricing of Durable Goods

Mark Bils

3049: U.S. Tax Policy and Direct Investment Abroad

Joosung Jun

3048: Tax Policy and International Direct Investment

Joosung Jun

3047: Targets, Indicators, and Instruments of Monetary Policy

Bennett McCallum

3046: Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data

Joseph Altonji, Fumio Hayashi and Laurence Kotlikoff

3045: Does Monetary Policy Matter? Narrative Versus Structural Approaches

Ray Fair

3044: Leadership and Cooperation in the European Monetary System: A Simulation Approach

Nouriel Roubini

3043: Labor Supply Flexibility and Portfolio Choice

Zvi Bodie and William Samuelson

3042: Tax Effects on Foreign Direct Investment in the United States: Evidence from a Cross-Country Comparison

Joel Slemrod

3041: Dynamic Factor Demand Models, Productivity Measurement, and Rates of Return: Theory and an Empirical Application to the U.S. Bell System

M. Ishaq Nadiri and Ingmar Prucha

3040: An Explanation of the Behavior of Personal Savings in the United States in Recent Years

Eytan Sheshinski and Vito Tanzi

3039: Do Firms Care Who Provides their Financing?

Jeffrey Mackie-Mason

3038: Optimal Taxation and Optimal Tax Systems

Joel Slemrod

3037: Interest Rates in the Reagan Years

Patric Hendershott and Joe Peek

3036: Treasury Bill Rates in the 1970s and 1980s

Patric Hendershott and Joe Peek

3035: An Analysis of the Earnings of Canadian Immigrants

David Bloom and Morley Gunderson

3034: Invariance Properties of Solow's Productivity Residual

Robert Hall

3033: The Role of External Economies in U.S. Manufacturing

Ricardo Caballero and Richard Lyons

3032: Copycatting: Fiscal Policies of States and Their Neighbors

Anne Case, James Hines and Harvey Rosen

3031: Monopsony Power in the Market for Nurses

Daniel Sullivan

3030: Employment, Wages, and Unionism in a Model of the Aggregate Labor Market in Britain

John Pencavel

3029: The Employers' cost of Workers' Compensation Insurance: Magnitudes, Determinants, and Public Policy

Alan Krueger and John F. Burton, Jr.

3028: Intertemporal Dependence, Impatience, and Dynamics

Maurice Obstfeld

3027: Commodity Trade and International Risk Sharing: How Much Do Financial Markets Matter?

Harold Cole and Maurice Obstfeld

3026: Formal Employee Training Programs and Their Impact on Labor Produc- tivity: Evidence from a Human Resources Survey

Ann P. Bartel

3025: How Elastic is the Government's Demand for Weapons?

Frank Lichtenberg

3024: Collateral, Rationing, and Government Intervention in Credit Markets

William Gale

3023: Trade and Protection in Vertically Related Markets

Barbara Spencer and Ronald Jones

3022: The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior

Frank Lichtenberg and Donald Siegel

3021: Changes in the Structure of Wages: The U.S. versus Japan

Lawrence Katz and Ana L. Revenga

3020: Market Work, Wages, and Men's Health

Robert Haveman, Mark Stone and Barbara Wolfe

3019: Strategic Investment in a Debt Bargaining Framework

Joshua Aizenman and Eduardo R. Borensztein

3018: Issues and Results from Research on the Elderly I: Economic Status (Part I of III Parts)

Michael Hurd

3017: Arbitrage and the Savings Behavior of State Governments

Gilbert Metcalf

3016: Strategic Use of Antidumping Law to Enforce Tacit International Collusion

Robert Staiger and Frank A. Wolak

3015: Risk Neutrality and the Two-Tier Foreign Exchange Market: Evidence from Belgium

Robert Flood and Nancy Marion

3014: Increasing Returns, Durables and Economic Fluctuations

Kevin Murphy, Andrei Shleifer and Robert Vishny

3013: Multinational Corporations, Transfer Prices, and Taxes: Evidence from the U.S. Petroleum Industry

Jean-Thomas Bernard and Robert J. Weiner

3012: Bonuses, Overtime, and Employment: Korea vs. Japan

Takatoshi Ito and Kyoungsik Kang

3011: The Lender of Last Resort: Some Historical Insights

Michael Bordo

3010: Reforming Conforming Loan Limits: The Impact on Thrift Earnings and Taxpayer Outlays

Patric Hendershott and James D. Shilling

3009: Inflation Insurance

Zvi Bodie

3008: The Optimal Probability and Magnitude of Fines for Acts that Definitely are Undesirable

Louis Kaplow

3007: Incentives and Government Relief for Risk

Louis Kaplow