NBER Working Papers

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3157: Explaining the Variance of Price Dividend Ratios

John Cochrane

3156: Japanese Finance: A Survey

Jeffrey Frankel

3155: Job Security and Work Force Adjustment: How Different are U.S. and Japanese Practices?

Katharine Abraham and Susan Houseman

3154: Stock Market Forecastability and Volatility: A Statistical Appraisal

N. Gregory Mankiw, David Romer and Matthew Shapiro

3153: Yield Spreads and Interest Rate Movements: A Bird's Eye View

John Campbell and Robert Shiller

3152: International Tax Competition and Gains from Tax Harmonization

Assaf Razin and Efraim Sadka

3151: Endogenous Growth and the role of History

Mervyn A. King and Mark Robson

3150: Demographics, Fiscal Policy, and U.S. Saving in the 1980s and Beyond

Alan Auerbach and Laurence Kotlikoff

3149: Does Performance-Based Managerial Compensation Affect Subsequent Corporate Performance?

John Abowd

3148: The Effects of Human Resource Management Decisions on Shareholder Value

John Abowd, George T. Milkovich and John M. Hannon

3147: Measureable Dynamic Gains from Trade

Richard Baldwin

3146: Real Wages, Monetary Accommodation, and Inflation

Elhanan Helpman and Leonardo Leiderman

3145: A Framework for studying Monetary Non-Neutrality

Robert Hall

3144: Spontaneous Volatility of Output and Investment

Robert Hall

3143: Temporal Agglomeration

Robert Hall

3142: Corporate Taxation and the Efficiency Gains of the 1986 Tax Reform Act

Jane Gravelle and Laurence Kotlikoff

3141: Multinational Corporations and Productivity Convergence in Mexico

Magnus Blomstrom and Edward Wolff

3140: What Do Rich Countries Trade with Each Other? R&D and the Composition of U.S. and Swedish Trade

Magnus Blomstrom, Robert Lipsey and Lennart Ohlsson

3139: Promoting Investment under International Capital Mobility: An Intertemporal General Equilibrium Analysis

Lans Bovenberg and Lawrence H. Goulder

3138: On the Sequencing of Structural Reforms

Sebastian Edwards

3137: Tax Credits for Debt Reduction

Michael Dooley and Elhanan Helpman

3136: Market Forces and the Public Good: Competition Among Hospitals and Provision of Indigent Care

Richard G. Frank, David Salkever and Jean Mitchell

3135: Public Confidence and Debt Management: A Model and A Case Study of Italy

Alberto Alesina, Alessandro Prati and Guido Tabellini

3134: Staggered Price Setting with Endogenous Frequency of Adjustment

David Romer

3133: Forecasting Aggregate Period Specific Birth Rates: The Time Series Properties of a Microdynamic Neoclassical Model of Fertility

James Heckman and James Walker

3132: Cost and Price Movements in Business Cycle Theories and Experience: Causes and Effects of OBserved Changes (SEE ALSO WP3131-Send out together)

Victor Zarnowitz

3131: Cost and Price Movements in Business Cycle Theories and Experience: Hypotheses of Sticky Wages and Prices (SEE ALSO WP3132-send out together)

Victor Zarnowitz

3130: Unit Roots in Real GNP: Do We Know, and Do We Care?

Lawrence Christiano and Martin Eichenbaum

3129: International Differences in Capital Taxation and Corporate Borrowing Behavior: Evidence from the U.S. Withholding Tax

Leslie Papke

3128: Endogenous Election Timings and Political Business Cycles in Japan

Takatoshi Ito

3127: The Evolution of Unjust-Dismissal Legislation in the United States

Alan Krueger

3126: The Information in the Longer Maturity Term Structure about Future Inflation

Frederic Mishkin

3125: A Multi-Country Study of the Information in the Term Structure about Future Inflation

Frederic Mishkin

3124: International Monetary Instability Between the Wars: Structural Flaws or Misguided Policies?

Barry Eichengreen

3123: The Effects of Immigration on the Labor Market Outcomes of Natives

Joseph Altonji and David Card

3122: The Gold Standard Since Alec Ford

Barry Eichengreen

3121: Debt Write-Downs and Debt-Equity Swaps in the Two Sector Model

Linda Goldberg and Mark Spiegel

3120: Economic Growth in a Cross Section of Countries

Robert Barro

3119: The Growth Effects of 1992

Richard Baldwin

3118: The Non-Optimality of Optimal Trade Policy: The U.S. Automobile Indust ry Revisited, 1979-1985

Kala Krishna, Kathleen Hogan and Phillip Swagel

3117: Solving Nonlinear Stochastic Growth Models: A Comparison of Alternative Solution Methods

John Taylor and Harald Uhlig

3116: Investment, Finacial Factors and Cash Flow: Evidence From UK Panel Data

Michael Devereux and Fabio Schiantarelli

3115: AIL Theory and the Ailing Phillips Curve: A Contract Based Approach to Aggregate Supply

Roger Farmer

3114: Introducing Risky Housing and Endogenous Tenure Choice into Portfolio- Based General Equilibrium Models

Patric Hendershott and Yunhi Won

3113: Social Security and the Determinants of Full and Partial Retirement: A Competing Risks Analysis

Glenn T. Sueyoshi

3112: Capital Controls and International Trade Finance

Alberto Giovannini and Jan Won Park

3111: Corporate Payouts and the Tax Price of Corporate Retentions: Evidence from the Undistributed Profits Tax of 1936-1938

Robert Hubbard and Peter C. Reiss

3110: The Stolper-Samuelson Theorem Reconsidered: An Example of Ricardian Dynamic Trade Effects

Richard Baldwin

3109: Asset Prices and Interest Rates in Cash-In-Advance Models

Alberto Giovannini and Pamela Labadie

3108: Striking for a Bargain Between Two Completely Informed Agents

Raquel Fernandez and Jacob Glazer

3107: Liquidity Constraints in Production Based Asset Pricing Models

William Brock and Blake Lebaron

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 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