NBER Working Papers

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2906: Market Value Vs. Financial Accounting Measures of National Saving

David Bradford

2905: Pricing to Market in Japanese Manufacturing

Richard C. Marston

2904: Asymmetries in Policy Between Exportables and Import-Competing Goods

Anne O. Krueger

2903: Testable Implications of Indeterminacies in Models with Rational Expectations

Robert Flood and Robert Hodrick

2902: The Term Structure of Interest Rates and the Effects of Macroeconomic Policy

Stephen J Turnovsky

2901: The Impact of R&D Investment On Productivity - New Evidence Using Linked R&D-LRD Data

Frank Lichtenberg and Donald Siegel

2900: Tax Reform and the Market For Tax-Exempt Debt

James Poterba

2899: Taxes and Capital Formation: How Important is Human Capital?

James Davies and John Whalley

2898: Black-White Differences in Wealth and Asset Composition

Francine Blau and John Graham

2897: Social Conflict and Populist Policies in Latin America

Jeffrey D. Sachs

2896: Effects of Family and Community Background on Men's Economic Status

Mary Corcoran, Roger Gordon, Deborah Laren and Gary Solon

2895: The Effect of Takeovers on the Employment and Wages of Central-Office and Other Personnel

Frank Lichtenberg and Donald Siegel

2894: Exchange Rate Volatility and Misalignment: Evaluating Some Proposals for Reform

Jacob A. Frenkel and Morris Goldstein

2893: Empirical Implications of Alternative Models of Firm Dynamics

Ariel Pakes and Richard Ericson

2892: The American Way of Aging: An Event History Analysis

David T. Ellwood and Thomas J. Kane

2891: The Variability of Velocity in Cash-In-Advance Models

Robert Hodrick, Narayana Kocherlakota and Deborah Lucas

2890: Conditional Mean-Variance Efficiency of the U.S. Stock Market

Charles Engel, Jeffrey Frankel, Kenneth Froot and Anthony Rodrigues

2889: Financial Factors in Economic Development

Rüdiger Dornbusch and Alejandro Reynoso

2888: Real Wages Over The Business Cycle

Robert Barsky and Gary Solon

2887: Developing Country Borrowing and Domestic Wealth

Mark Gertler and Kenneth Rogoff

2886: Recent Trends in Housing Conditions Among the Urban Poor

Rebecca Blank and Harvey Rosen

2885: The Extent of Measurement Error In Longitudinal Earnings Data: Do Two Wrongs Make A Right?

John Bound and Alan Krueger

2884: Measurement Error In Cross-Sectional and Longitudinal Labor Market Surveys: Results From Two Validation Studies

John Bound, Charles Brown, Greg Duncan and Willard L. Rodgers

2883: Empirical Research on Trade Liberalization With Imperfect Competition: A Survey

J. David Richardson

2882: Real Business Cycles: A New Keynesian Perspective

N. Gregory Mankiw

2881: Policy Analysis With a Multicountry Model

John Taylor

2880: Positive Feedback Investment Strategies and Destabilizing Rational Speculation

J. Bradford De Long, Andrei Shleifer, Lawrence Summers and Robert Waldmann

2879: Is the Bank of Japan a Closet Monetarist? Monetary Targeting in Japan, 1978-1988

Takatoshi Ito

2878: Price and Output Adjustment in Japanese Manufacturing

William Branson and Richard C. Marston

2877: The Production Smoothing Model is Alive and Well

Ray Fair

2876: Cost-Reducing and Demand-Creating R&D With Spillovers

Richard C. Levin and Peter C. Reiss

2875: The Size and Incidence of the Losses from Noise Trading

J. Bradford De Long, Andrei Shleifer, Lawrence Summers and Robert Waldmann

2874: School District Leave Policies, Teacher Absenteeism, and Student Achievement

Ronald Ehrenberg, Randy A. Ehrenberg, Daniel Rees and Eric L. Ehrenberg

2873: International Effects of Tax Reforms

Jacob A. Frenkel and Assaf Razin

2872: Private Sector Training and its Impact on the Earnings of Young Workers

Lisa Lynch

2871: Recent Trends in Insured and Uninsured Unemployment: Is There an Explanation?

Rebecca Blank and David Card

2870: The Employer Size-Wage Effect

Charles Brown and James Medoff

2869: Dynamic Seigniorage Theory: An Exploration

Maurice Obstfeld

2868: Inward Versus Outward Growth Orientation in the Presence of Country Risk

Joshua Aizenman

2867: Dealing With Debt: The 1930s and the 1980s

Barry Eichengreen and Richard Portes

2866: Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries

Sebastian Edwards and Peter Montiel

2865: Facts and Factors in the Recent Evolution of Business Cycles in the United States

Victor Zarnowitz

2864: Adverse Selection in Credit Markets and Infant Industry Protection

Harry Flam and Robert Staiger

2863: Integration of the International Capital Markets: The Size of Government and Tax Coordination

Assaf Razin and Efraim Sadka

2862: Unemployment, Inflation, and Wages in the American Depression: Are There Lessons for Europe?

Ben Bernanke and Martin Parkinson

2861: Choosing Among Alternative Nonexperimental Methods for Estimating the Impact of Social Programs: The Case of Manpower Training

James Heckman

2860: The Impact of Government on the Economic Status of Black Americans

James Heckman

2859: But They Don't Want to Reduce Housing Equity

Steven Venti and David Wise

2858: Employment, Unemployment and Demand Shifts in Local Labor Markets

Harry Holzer

2857: Trends in Worker Demand for Union Representation

Henry S. Farber

2856: Quantifying International Capital Mobility in the 1980s

Jeffrey Frankel

2855: A Cross-Country Study of Growth, Saving, and Government

Robert Barro

2854: Determining the Impact of Federal Antidiscrimination Policy on the Economic Status of Blacks: A Study of South Carolina

James Heckman and Brook S. Payner

2853: Second Mortgages and Household Saving

Joyce M. Manchester and James Poterba

2852: Money, Income and Prices After the 1980s

Benjamin M. Friedman and Kenneth Kuttner

2851: Medicaid and the Cost of Improving Access to Nursing Home Care

Paul Gertler

2850: Sovereign Debt Repurchases: No Cure for Overhang

Jeremy Bulow and Kenneth Rogoff

2849: Obstacles to Coordination, and a Consideration of Two Proposals to Overcome Them

Jeffrey Frankel

2848: Precautionary Saving in the Small and in the Large

Miles Kimball

2847: Integration of Mortgage and Capital Markets and the Accumulation of Residential Capital

Patric Hendershott and Robert Van Order

2846: Comovements in Stock Prices and Comovements in Dividends

Robert Shiller

2845: Sources of IRA Saving

Daniel Feenberg and Jonathan Skinner

2844: Adequacy of International Transactions and Position Data for Policy Coordination

Lois Stekler

2843: Predicting Nursing Home Utilization Among the High-Risk Elderly

Alan M. Garber and Thomas E. MaCurdy

2842: Housing Wealth and Aggregate Saving

Jonathan Skinner

2841: From Deficit Delusion to the Fiscal Balance Rule: Looking For an Economically Meaningful Way to Assess Fiscal Policy

Laurence Kotlikoff

2840: The Case of the Vanishing Revenues: Auction Quotas with Monopoly

Kala Krishna

2839: Auctioning U.S. Import Quotas, Foreign Response, and Alternative Policies

Robert Feenstra

2838: The Case Against Trying to Stabilize the Dollar

Martin Feldstein

2837: Tax Policies For the 1990's: Personal Saving, Business Investment, and Corporate Debt

Martin Feldstein

2836: How Incentive-Incompatible Deposit-Insurance Funds Fail

Edward Kane

2835: Exchange Rate Dynamics Under Stochastic Regime Shifts: A Unified Approach

Kenneth Froot and Maurice Obstfeld

2834: A Time-Series Analysis of Unemployment and Health: The Case of Birth Outcomes in New York City

Ted Joyce

2833: Lifetime Incidence and the Distributional Burden of Excise Taxes

James Poterba

2832: Venture Capital and Capital Gains Taxation

James Poterba

2831: Disability Status as an Unobservable: Estimates From a Structural Model

Robert Haveman, Barbara Wolfe and Fung Mey Huang

2830: Wages, Employer Costs, and Employee Performance in the Firm

Harry Holzer

2829: The Equity Premium Puzzle and the Riskfree Rate Puzzle

Philippe Weil

2828: Exchange Rate Hysteresis: The Real Effects of Large vs Small Policy Misalignments

Richard Baldwin and Richard Lyons

2827: Pregnancy Resolution as an Indicator of Wantedness and its Impact on the Initiation of Early Prenatal Care

Ted Joyce and Michael Grossman

2826: The General Equilibrium Effects of Inflation on Housing Consumption and Investment

James Berkovec and Don Fullerton

2825: Money Stock Targeting, Base Drift and Price-Level Predictability: Lessons From the U.K. Experience

Michael Bordo, Ehsan Choudhri and Anna Schwartz

2824: Risk Aversion and Intertemporal Substitution in the Capital Asset Pricing Model

Alberto Giovannini and Philippe Weil

2823: Money, Credit, and Business Fluctuations

Joseph Stiglitz

2822: Money, Time Preference and External Balance

Philippe Weil

2821: On The Possibility of Price Decreasing Bubbles

Philippe Weil

2820: Imperfect Annuity Markets, Unintended Bequests, and the Optimal Age Structure of Social Security Benefits

Martin Feldstein

2819: Budget Deficits, Tax Incentives and Inflation: A Surprising Lesson From The 1983-84 Recovery

Martin Feldstein and Douglas Elmendorf

2818: A Markov Model of Heteroskedasticity, Risk, and Learning in the Stock Market

Christopher M. Turner, Richard Startz and Charles Nelson

2817: On the Divergence in Unionism among Developed Countries

Richard Freeman

2816: The Health and Earnings of Rejected Disability Insurance Applicants

John Bound

2815: Should Nations Learn to Live With Inflation?

Stanley Fischer and Lawrence Summers

2814: Tax Policy, Housing Prices, and Housing Investment

Lawrence H. Goulder

2813: A Behavioral Approach to Compliance: OSHA Enforcement's Impact on Workplace Accidents

Wayne Gray and John T. Scholz

2812: Major Macroeconomic Variables and Leading Indexes: Some Estimates of Their Interrelations, 1886-1982

Victor Zarnowitz and Phillip Braun

2811: Exchange Rate Variability And Asset Trade

Torsten Persson and Lars Svensson

2810: If Labor is Inelastic, Are Taxes Still Distorting?

Don Fullerton

2809: Comparative Advantage and Long-Run Growth

Gene Grossman and Elhanan Helpman

2808: A Dynamic Analysis of Household Dissolution and Living Arrangement Transitions by Elderly Americans

Axel Borsch-Supan

2807: The Excess Smoothness of Consumption: Identification and Interpretation

Marjorie A. Flavin