NBER Working Papers

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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

3006: Government Relief for Risk Associated with Government Action

Louis Kaplow

3005: Legal Advice about Acts Already Commited

Louis Kaplow and Steven Shavell

3004: Building Blocks of Market Clearing Business Cycle Models

Kevin Murphy, Andrei Shleifer and Robert Vishny

3003: The Euromarkets after 1992

Richard M. Levich

3002: The Impact of a Ban on Legalized Abortion on Adolescent Childbearing in New York City

Ted Joyce and Naci Mocan

3001: Data-Snooping Biases in Tests of Financial Asset Pricing Models

Andrew Lo and A. Craig MacKinlay

3000: Do Managerial Objectives Drive Bad Acquisitions?

Randall Morck, Andrei Shleifer and Robert Vishny

2999: Policy Uncertainty and Private Investment in Developing Countries

Dani Rodrik

2998: Stochastic Process Switching: Some Simple Solutions

Kenneth Froot and Maurice Obstfeld

2997: Self-Reported vs. Objective Measures of Health in Retirement Models

John Bound

2996: Optimal Taxation with Costly Enforcement and Evasion

Louis Kaplow

2995: Tying, Foreclosure, and Exclusion

Michael Whinston

2994: Corporate Savings and Shareholder Consumption

Alan Auerbach and Kevin Hassett

2993: Unraveling the Productivity Growth Slowdown in the U.S., Canada and Japan: The Effects of Subequilibrium, Scale Economies and Markup

Catherine Morrison Paul

2992: The Sources of Fluctuations in Aggregate Inventories and GNP

Kenneth West

2991: Why do World War II Veterans Earn More Than Nonveterans?

Alan Krueger and Joshua Angrist

2990: Did ACRS Really Cause Stock Prices to Fall?

Andrew Lyon

2989: Municipal Construction Spending: An Empirical Examination

Douglas Holtz-Eakin and Harvey Rosen

2988: Sleep and the Allocation of Time

Jeff Biddle and Daniel Hamermesh

2987: Why Do Multinational Firms Seek Out Joint Ventures?

Magnus Blomstrom and Mario Zejan

2986: Macroeconomic Populism in Latin America

Rüdiger Dornbusch and Sebastian Edwards

2985: Indexes of United States Stock Prices From 1802 to 1987

G. Schwert

2984: Long-term Memory in Stock Market Prices

Andrew Lo

2983: Changes in the Structure of Wages During the 1980's: An Evaluation of Alternative Explanations

John Bound and George Johnson

2982: New Classicals and Keynesians, or the Good Guys and the Bad Guys

Robert Barro

2981: Sovereign-Debt Renegotiations Revisted

Raquel Fernandez and Robert Rosenthal

2980: The Scope for Collusive Behavior Among Debtor Countries

Raquel Fernandez and Jacob Glazer

2979: Incentives, Information, and Organizational Design

Joseph Stiglitz

2978: Measuring Nontariff Trade Policies

Robert Baldwin

2977: When are Contrarian Profits Due to Stock Market Overreaction?

Andrew Lo and A. Craig MacKinlay

2976: Macroeconomic Implications of Production Bunching

Russell Cooper and John Haltiwanger

2975: Dividends, Capital Gains, and the Corporate Veil: Evidence from Britain, Canada, and the United States

James Poterba

2974: Patents, Appropriate Technology, and North-South Trade

Ishac Diwan and Dani Rodrik

2973: Research and Development As An Investment

Bronwyn Hall and Fumio Hayashi

2972: Is Bilateralism Bad?

Paul Krugman

2971: History Vs. Expectations

Paul Krugman

2970: Growth and Welfare in A Small Open Economy

Gene Grossman and Elhanan Helpman

2969: High Tech Firms in Israeli Industry

Arie Bregman, Melvyn Fuss and Haim Regev

2968: Layoffs and Lemons

Robert Gibbons and Lawrence Katz

2967: Labor Market Dynamics When Unemployment Is A Worker Discipline Device

Miles Kimball

2966: Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz

Christina Romer and David Romer

2965: Trade Liberalization in General Equilibrium: Intertemporal and Inter-Industry Effects

Lawrence H. Goulder and Barry Eichengreen

2964: Non-Neutral Taxation and the Efficiency Gains of the 1986 Tax Reform Act - - A New Look

Jane Gravelle

2963: Crumbling Pillar? Declining Union Density in Japan

Richard Freeman and Marcus Rebick

2962: The Long-Run Impact on Federal Tax Revenues and Capital Allocation of A Cut in the Capital Gains Tax Rate

Patric Hendershott and Yunhi Won

2961: Markets and Development

Joseph Stiglitz

2960: An Econometric Analysis of Nonsynchronous Trading

Andrew Lo and A. Craig MacKinlay

2959: Tariffs with Private Information and Reputation

Richard Jensen and Marie Thursby

2958: Foreign Investment and Technology Transfer: A Simple Model

Magnus Blomstrom and Jian-Ye Wang