NBER Working Papers

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3457: International Trade and Investment under Different Rates of Time Preference

Kyoji Fukao and Koichi Hamada

3456: Monetary Overhang and Reforms in the 1940s

Rüdiger Dornbusch and Holger Wolf

3455: Taxes, Fringe Benefits and Faculty

Daniel Hamermesh and Stephen Woodbury

3454: The Dynamic Efficiency Cost of Not taxing Housing

Jonathan Skinner

3453: Popular Attitudes Towards Free Markets: The Soviet Union and the United States Compared

Robert Shiller, Maxim Boycko and Vladimir Korobov

3452: Fundamental Value and Market Value

William C. Brainard, Matthew Shapiro and John B. Shoven

3451: Do Stationary Risk Premia Explain It All? Evidence from the Term Struct

Martin Evans and Karen Lewis

3450: The Seasonal Cycle in U.S. Manufacturing

J. Joseph Beaulieu and Jeffrey Miron

3449: Human Resource Management Systems and the Performance of U.S. Manufacturing Businesses

Casey Ichniowski

3448: A Sorting Model of Labor Contracts: Implications for Layoffs and Wage-Tenure Profiles

Andrew Weiss and Ruqu Wang

3447: Women's Work, Women's Lives: A Comparative Economic Perspective

Francine Blau and Marianne A. Ferber

3446: Assuming The Can Opener: Hedonic Wage Estimates and the Value of Life

William T. Dickens

3445: Career Plans and Expectations of Young Women and Men: The Earnings Gap and Labor Force Participation

Francine Blau

3444: Employment and Earnings of Disadvantaged Young Men in a Labor Shortage Economy

Richard Freeman

3443: Capital Controls, Collection Costs, and Domestic Public Debt

Joshua Aizenman and Pablo Guidotti

3442: Measures of Prices and Price Competitiveness in International Trade in Manufactured Goods

Robert Lipsey, Linda Molinari and Irving B. Kravis

3441: Does Competition Between Currencies Lead to Price Level and Exchange Rate Stability?

Michael Woodford

3440: Monetary Contracting Between Central Banks and the Design of SustainableExchange-Rate Zones

Francisco Delgado and Bernard Dumas

3439: On The Behavior of Commodity Prices

Angus Deaton and Guy Laroque

3438: Participation Dynamics: Sunspots and Cycles

Satyajit Chatterjee, Russell Cooper and B Ravikumar

3437: Disability Transfers and the Labor Force Attachment of Older Men: Evidence from the Historical Record

John Bound

3436: Patterns of Aging in Thailand and Cote D'Ivoire

Angus Deaton and Christina Paxson

3435: The Role of Banks in Reducing the Costs of Financial Distress in Japan

Takeo Hoshi, Anil Kashyap and David Scharfstein

3434: Tax Policy and the Dividend Puzzle

B. Douglas Bernheim

3433: Technological Change and the Careers of Older Workers

Ann P. Bartel and Nachum Sicherman

3432: Real Business Cycle Theory: Wisdom or Whimsy?

Martin Eichenbaum

3431: A Theory of Corporate Financial Structure Based on the Seniority of Claims

Oliver Hart and John Moore

3430: Measuring Ignorance in the Market: A New Method with an Application to Physician Services

Martin Gaynor and Solomon Polachek

3429: Enforcement Costs and the Optimal Magnitude and Probability of Fines

A. Mitchell Polinsky and Steven Shavell

3428: Medical Malpractice: An Empirical Examination of the Litigation Process

Henry S. Farber and Michelle White

3427: Univariate vs. Multivariate Forecasts of GNP Growth and Stock Returns: Evidence and Implications for the Persistence of Shocks, Detrending Methods

John Cochrane

3426: Did J.P. Morgan's Men Add Value? A Historical Perspective on Financial Capitalism

J. Bradford De Long

3425: Modeling American Marriage Patterns

David Bloom and Neil G. Bennett

3424: Sovereign Debt, Reputation, and Credit Terms

Jonathan Eaton

3423: Immigrant Participation in the Welfare System

George Borjas and Stephen Trejo

3422: Fertility Timing, Wages, and Human Capital

McKinley Blackburn and David Bloom

3421: Ex-Day Behavior of Japanese Stock Prices: New Insights from New Methodology

Fumio Hayashi and Ravi Jagannathan

3420: Aging and Labor Force Participation: A Review of Trends and Explanations

David Wise and Robin L. Lumsdaine

3419: Economic Growth and Convergence across The United States

Robert Barro and Xavier Sala-i-Martin

3418: Target Zones with Limited Reserves

Paul Krugman and Julio Rotemberg

3417: An Experimental Comparison of Dispute Rates in Alternative Arbitration Systems

Orley Ashenfelter, Janet Currie, Henry S. Farber and Matthew Spiegel

3416: Can Capital Income Taxes Survive in Open Economies?

Roger Gordon

3415: The Continued Interest Rate Vulnerability of Thrifts

Patric Hendershott and James D. Shilling

3414: Human Capital, Fertility, and Economic Growth

Gary Becker, Kevin Murphy and Robert Tamura

3413: Human Capital, Product Quality, And Growth

Nancy Stokey

3412: Foreign Firms and Export Performance in Developing Countries: Lessons from the Debt Crisis

Magnus Blomstrom and Robert Lipsey

3411: Trends and Cycles in Foreign Lending

Barry Eichengreen

3410: Relaxing the External Constraint: Europe in the 1930s

Barry Eichengreen

3409: Jobfinding and Wages when Longrun Unemployment is Really Long: The Case of Spain

Alfonso Alba-Ramirez and Richard Freeman

3408: The Resurgence of Inventory Research: What Have We Learned?

Alan Blinder and Louis Maccini

3407: Views on the Likelihood of Financial Crisis

Benjamin M. Friedman

3406: P* Type Models: Evaluation and Forecasts

Rowena Pecchenino and Robert Rasche

3405: Tax Aspects of Policy Towards Aging Populations: Canada and the United States

Alan Auerbach and Laurence Kotlikoff

3404: U.S. Demographics and Saving: Predictions of Three Saving Models

Alan Auerbach, Jinyong Cai and Laurence Kotlikoff

3403: Precautionary Saving and the Marginal Propensity to Consume

Miles Kimball

3402: The Consumption of Stockholders and Non-Stockholders

N. Gregory Mankiw and Stephen Zeldes

3401: Capital Positions of Japanese Banks

Edward Kane, Haluk Unal and Asli Demirguc-Kunt

3400: Asymmetric Information and Financial Crises: A Historical Perspective

Frederic Mishkin

3399: Sanctions

Jonathan Eaton and Maxim Engers

3398: Occasional Interventions to Target Rates with a Foreign Exchange Application

Karen Lewis

3397: Why Doesn't Society Minimize Central Bank Secrecy?

Karen Lewis

3396: Interdependent Pricing and Markup Behavior: An Empirical Analysis of GM, Ford and Chrysler

Ernst R. Berndt, Ann F. Friedlaender and Judy Shaw-Er Wang Chiang

3395: Externalities, Incentives, and Economic Reforms

Joshua Aizenman and Peter Isard

3394: The Simplest Test of Target Zone Credibility

Lars Svensson

3393: The Phillips Curve Now and Then

Robert Gordon

3392: An Empirical Model of Labor Supply in the Underground Economy

Bernard Fortin, Thomas Lemieux and Pierre Frechette

3391: The Impact of Permanent and Temporary Import Surcharges on the U.S. Trade Deficit

Barry Eichengreen and Lawrence H. Goulder

3390: How Risky is the Debt in Highly Leveraged Transactions? Evidence from Public Recapitalizations

Steven Kaplan and Jeremy Stein

3389: Hot Hands in Mutual Funds: The Persistence of Performance, 1974-87

Darryll Hendricks, Jayendu Patel and Richard Zeckhauser

3388: Should The Fed Smooth Interest Rates? The Case of Seasonal Monetary Policy

N. Gregory Mankiw and Jeffrey Miron

3387: Ranking, Unemployment Duration, and Wages

Olivier Blanchard and Peter Diamond

3386: Revenue and Welfare Implications for a Capital Gains Tax Cut

Patric Hendershott, Eric Toder and Yunhi Won

3385: Waiting for Work

George Akerlof, Andrew Rose and Janet Yellen

3384: International Costs and Benefits from EMU

George Alogoskoufis and Richard Portes

3383: Money and Prices in Colonial America: A New Test of Competing Theories

Bennett McCallum

3382: Rules versus Discretion in Trade Policy: An Empirical Analysis

Robert Staiger and Guido Tabellini

3381: Banks in the Market for Liquidity

Peter Garber and Steven Weisbrod

3380: Before the Accord: U.S. Monetary-Financial Policy 1945-51

Barry Eichengreen and Peter Garber

3379: Tax Policy Toward Art Museums

Don Fullerton

3378: Price Indexes for Microcomputers: An Exploratory Study

Ernst R. Berndt and Zvi Griliches

3377: Taxes, Outward Orientation, and Growth Performance in Korea

Irene Trela and John Whalley

3376: Business Cycle Properties of Selected U.S. Economic Time Series, 1959-1988

James Stock and Mark Watson

3375: An Alternative View of Tax Incidence Analysis for Developing Countries

Anwar Shah and John Whalley

3374: The Term Structure of Interest Rate Differentials in a Target Zone: Theory and Swedish Data

Lars Svensson

3373: Moral Hazard in Partnerships

Martin Gaynor and Paul Gertler

3372: Can Severe Fiscal Contractions be Expansionary? Tales of Two Small European Countries

Francesco Giavazzi and Marco Pagano

3371: The Cost of Capital in Japan: Recent Evidence and Further Results

Albert Ando and Alan Auerbach

3370: The Stock Market, Profit and Investment

Olivier Blanchard, Changyong Rhee and Lawrence Summers

3369: Efficient Windows and Labor Force Reduction

Robin L. Lumsdaine, James Stock and David Wise

3368: Forecasting Prices and Excess Returns in the Housing Market

Karl Case and Robert Shiller

3367: The Gold Standard as a Rule

Michael Bordo and Finn Kydland

3366: The Manufacturing Sector Master File: 1959-1987

Bronwyn Hall

3365: Fear, Unemployment and Pay Flexibility

David Blanchflower

3364: Price Behavior in Japanese and U.S. Manufacturing

Richard C. Marston

3363: The Provision of Time to the Elderly by Their Children

Axel Borsch-Supan, Jagadeesh Gokhale, Laurence Kotlikoff and John N. Morris

3362: Public Finance in Models of Economic Growth

Robert Barro and Xavier Sala-i-Martin

3361: Self-Fulfilling Expectations and Fluctuations in Aggregate Demand

Michael Woodford

3360: Equilibrium Models of Endogenous Fluctuations: an Introduction

Michael Woodford

3359: Asymmetric Information and the New Theory of the Firm: Financial Constraints and Risk Behavior

Bruce C. Greenwald and Joseph Stiglitz

3358: Does School Quality Matter? Returns to Education and the Characteristics of Public Schools in the United States

David Card and Alan Krueger