NBER Working Papers

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4234: The Effect of News on Bond Prices: Evidence from the United Kingdom 1900-1920

Douglas Elmendorf, Mary Hirshfeld and David Weil

4233: Specification of Policy Rules and Performance Measures in Multicountry Simulation Studies

Bennett McCallum

4232: Currency Substitution

Alberto Giovannini and Bart Turtelboom

4231: Real Exchange Rates and Relative Prices: An Empirical Investigation

Charles Engel

4230: International Migration and International Trade

Assaf Razin and Efraim Sadka

4229: Income Inequality and the Incomes of Very High Income Taxpayers: Evidence from Tax Returns

Daniel Feenberg and James Poterba

4228: Entrepreneurship, Happiness and Supernormal Returns: Evidence from Britain and the US

David Blanchflower and Andrew Oswald

4227: Tax Distortions to the Choice of Organizational Form

Roger Gordon and Jeffrey Mackie-Mason

4226: Trade and Technical Progress

John Helliwell

4225: The State of the North American and Japanese Motor Vehicle Industries: A Partially Calibrated Model to Examine the Impacts of Trade Policy Changes

Melvyn Fuss, Steven Murphy and Leonard Waverman

4224: The Gender Earnings Gap: Some International Evidence

Francine Blau and Lawrence Kahn

4223: Fiscal Policy and Economic Growth

Eric M. Engen and Jonathan Skinner

4222: Wages, Profits and Rent-Sharing

David Blanchflower, Andrew Oswald and Peter Sanfey

4221: Expenditures on Health Care for Children and Pregnant Women

Eugene M. Lewit and Alan C. Monheit

4220: Permanent International Productivity Growth Differentials in an Integrated Global Economy

Willem Buiter and Kenneth Kletzer

4219: A Dynamic Spatial Model

Paul Krugman

4218: Home Bias and the High Turnover

Linda Tesar and Ingrid M. Werner

4217: Foreign Equity Investment Restrictions and Shareholder Wealth Maximization

René Stulz and Walter Wasserfallen

4216: Union Membership in the United States: The Decline Continues

Henry S. Farber and Alan Krueger

4215: Private Saving and Public Policy

B. Douglas Bernheim and John Scholz

4214: Convergence in Growth Rates: The Role of Capital Mobility and International Taxation

Assaf Razin and Chi-Wa Yuen

4213: Are Rising Wage Profiles a Forced-Saving Mechanism?

David Neumark

4212: Alcohol, Marijuana, and American Youth: The Unintended Effects of Government Regulation

John DiNardo and Thomas Lemieux

4211: Credit Conditions and the Cyclical Behavior of Inventories: A Case Studyof the 1981-82 Recession

Anil Kashyap, Owen Lamont and Jeremy Stein

4210: Can the Markov Switching Model Forecast Exchange Rates?

Charles Engel

4209: What Directions for Labor Market Institutions in Eastern and Central Europe?

Richard Freeman

4208: Business Cycle Volatility and Openness: An Exploratory Cross-Section Analysis

Assaf Razin and Andrew Rose

4207: Why Exchange Rate Bands? Monetary Independence in Spite of Fixed Exchange Rates

Lars Svensson

4206: Capital Mobility in Neoclassical Models of Growth

Robert Barro, N. Gregory Mankiw and Xavier Sala-i-Martin

4205: Privatization, Risk-Taking, and the Communist Firm

Dominique Demougin and Hans-Werner Sinn

4204: Turnover and the Dynamics of Labor Demand

Daniel Hamermesh and Gerard Pfann

4203: Accuracy in the Determination of Liability

Louis Kaplow and Steven Shavell

4202: Measuring the Cyclicality of Real Wages: How Important is Composition Bias

Gary Solon, Robert Barsky and Jonathan Parker

4201: Pension Plan Provisions and Retirement: Men & Women, Medicare, and Models

Robin L. Lumsdaine, James Stock and David Wise

4200: International Wage Curves

David Blanchflower and Andrew Oswald

4199: Participation in and Contributions to 401(k) Pension Plans: Evidence om Plan Data

Leslie Papke

4198: Hubs and Spokes, and Free Trade in the Americas

Carsten Kowalczyk and Ronald Wonnacott

4197: Policy Lessons from the U.S. Unemployment Experiments

Bruce Meyer

4196: Patterns and Determinants of Metropolitan House Prices, 1977-91

Patric Hendershott and Jesse M. Abraham

4195: The Effect of Unions on the Distribution of Wages: Redistribution or Relabelling?

David Card

4194: Market Conditions and Retirement of Physical Capital: Evidence fron Oil Tankers

Iain Cockburn and Murray Frank

4193: Trading Volume and Serial Correlation in Stock Returns

John Campbell, Sanford Grossman and Jiang Wang

4192: The Real Exchange Rate and Foreign Direct Investment in the United States: Relative Wealth vs. Relative Wage Effects

Michael Klein and Eric Rosengren

4191: Credit and Deferral as International Investment Incentives

James Hines

4190: The Effect of Price Shopping in Medical Markets: Hospital Responses to PPOs in California

Jonathan Gruber

4189: Optimal Distribution and Taxation of the Family

Louis Kaplow

4188: Inspecting the Mechanism: An Analytical Approach to the Stochastic Growth Model

John Campbell

4187: The Effect of Illicit Drug Use on the Labor Supply of Young Adults

Robert Kaestner

4186: Transfers

Xavier Sala-i-Martin

4185: The Role of Information in U.S. Offshore Oil and Gas Lease Auctions

Robert Porter

4184: Hyperinflation with Currency Substitution: Introducing an Indexed Currency

Federico Sturzenegger

4183: Exchange Rates, Country Preferences, and Gold

Michael Dooley, Peter Isard and Mark Taylor

4182: The Increasing Annuitization of the Elderly- Estimates and Implications for Intergenerational Tranfers, Inequality, and National Saving

Alan Auerbach, Laurence Kotlikoff and David Weil

4181: 401(k) Plans and Tax-Deferred Saving

James Poterba, Steven Venti and David Wise

4180: Projecting the Number of New AIDS Cases in the U.S

David Bloom and Sherry Glied

4179: Complementarity and Increasing Returns in Intermediate Inputs: A Theoretical and Applied General-Equilibrium Analysis

Florencio Lopez- de-Silane, James Markusen and Thomas Rutherford

4178: Industrial Development in Cities

J. Vernon Henderson, Ari Kuncoro and Matthew Turner

4177: Incidence and Allocation Effects of a State Fiscal Policy Shift: The Florio Initiatives in New Jersey

William T. Bogart, David Bradford and Michael G. Williams

4176: Optimal Cleanup and Liability After Environmentally Harmful Discharges

A. Mitchell Polinsky and Steven Shavell

4175: Investments of Uncertain Cost

Robert Pindyck

4174: Employment and Unemployment in the 1930s

Robert Margo

4173: Political Instability and Economic Growth

Alberto Alesina, Sule Ozler, Nouriel Roubini and Phillip Swagel

4172: Endogenous Creditor Seniority and External Debt Values

Michael Dooley and Mark Stone

4171: Firms' Responses to Anticipated Reductions in Tax Rates: The Tax Reform Act of 1986

Myron Scholes, G. Peter Wilson and Mark A. Wolfson

4170: Is Price Adjustment Asymmetric?: Evaluating the Market Share and Marketing Bottlenecks Hypothesis

Michael M. Knetter

4169: Macroeconomic Adjustment Under Bretton Woods and the Post-Bretton Woods Float: An Impulse-Response Analysis

Tamim Bayoumi and Barry Eichengreen

4168: Relative-Price Changes as Aggregate Supply Shocks

Laurence Ball and N. Gregory Mankiw

4167: Determinants of Shrt-Term Real Interest Differentials Between Japan and the United States

Richard C. Marston

4166: Greenback Resumption and Silver Risk: The Economics and Politics of Monetary Regime Change in the United States, 1862-1900

Charles Calomiris

4165: The Accuracy of Reports of Foreign Exchange Intervention

Michael Klein

4164: Economic Foundations of Cost Effective Analysis

Alan M. Garber and Charles E. Phelps

4163: Conspicuous Consumption, Pure Profits, and the Luxury Tax

Laurie Simon Bagwell and B. Douglas Bernheim

4162: Microeconomic Rigidities and Aggregate Price Dynamics

Ricardo Caballero and Eduardo Engel

4161: R&D Investment and International Productivity Differences

Frank Lichtenberg

4160: Uncertainty, Investment, and Industry Evolution

Ricardo Caballero and Robert Pindyck

4159: Taxes and the Form of Ownership of Foreign Corporate Equity

Roger Gordon and Joosung Jun

4158: Income Distribution, Communities and the Quality of Public Education: A Policy Analysis

Raquel Fernandez and Richard Rogerson

4157: The Efficiency of a Group-Specific Mandated Benefit: Evidence From Health Insurance Benefits for Maternity

Jonathan Gruber

4156: Testing Long Run Neutrality

Robert King and Mark Watson

4155: An Economic Analysis of Life Care

Jonathan Feinstein and Edward G. Keating

4154: A Comparative Analysis of East and West German Labor Markets: Before and After Unification

Alan Krueger and Jorn-Steffen Pischke

4153: Black-Markets for Currency, Hoarding Activity and Currency Reform

Linda Goldberg and Ildar Karimov

4152: The Automobile Industry and The Mexico-Us Free Trade Agreement

Steven Berry, Vittorio Grilli and Florencio Lopez-de-Silanes

4151: Exchange Rates and Corporate Pricing Strategies

Michael M. Knetter

4150: Remeasuring Business Cycles

Christina Romer

4149: Protection For Sale

Gene Grossman and Elhanan Helpman

4148: General Purpose Technologies "Engines of Growth?"

Timothy Bresnahan and Manuel Trajtenberg

4147: The Risk and Duration of Catastrophic Health Care Expenditures

Daniel Feenberg and Jonathan Skinner

4146: Ivory Tower Versus Corporate Lab: An Empirical Study of Basic Research and Appropriability

Manuel Trajtenberg, Rebecca Henderson and Adam Jaffe

4145: Discouraging Rivals: Managerial Rent-Seeking and Economic Inefficiencies

Joseph Stiglitz and Aaron Edlin

4144: Solow and the States: Capital Accumulation, Productivity and Economic Growth

Douglas Holtz-Eakin

4143: Estimates of the Economic Return to Schooling from a New Sample of Twins

Alan Krueger and Orley Ashenfelter

4142: The Effects of High School Curriculum on Education and Labor Market Outcomes

Joseph Altonji

4141: Three Perspectives on the Bretton Woods System

Barry Eichengreen

4140: Global Versus Country-Specific Productivity Shocks and the Current Account

Reuven Glick and Kenneth Rogoff

4139: Determinants of Interest Rates on Tax-Exempt Hospital Bonds

Fred Goldman, Michael Grossman, Susan W. Nesbitt and Pamela Mobilia

4138: Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?

Severin Borenstein and A. Cameron

4137: Wealth Mobility in America: A View from the National Longitudinal Survey

Richard Steckel and Jayanthi Krishnan

4136: Arbitration in International Trade

Alessandra Casella

4135: Does Executive Compensation Affect Investment?

Kevin J. Murphy and Robert Gibbons