NBER Working Papers

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2589: Sources of Business Cycle Fluctuations

Matthew Shapiro and Mark Watson

2588: Government Spending in a Simple Model of Endogenous Growth

Robert Barro

2587: Market-Based Debt-Reduction Schemes

Paul Krugman

2586: Deindustrialization, Reindustrialization, and the Real Exchange Rate

Paul Krugman

2585: U.S. Inflation, Labor's Share, and the Natural Rate of Unemployment

Robert Gordon

2584: The Role Of Export Subsisies When Product Quality Is Unknown

Kyle Bagwell and Robert Staiger

2583: Endogenous Participation in Agricultural Support Programs and Ad ValoremEquivalent Modelling

John Whalley and Randall Wigle

2582: Debt and Conditionality under Endogenous Terms of Trade Adjustment

Joshua Aizenman and Eduardo R. Borensztein

2581: Interest-Rate Smoothing

Robert Barro

2580: Consumption and Investment

Andrew Abel

2579: Corporate Taxes and Incentives and the Structure of Production: A Selected Survey

Jeffrey Bernstein and M. Ishaq Nadiri

2578: Centre For Labour Economics

Willem Buiter

2577: On the Consistency of Short-run and Long-run Exchange Rate Expectations

Kenneth Froot and Takatoshi Ito

2576: A Non-Competitive, Equilibrium Model Of Fluctuations

Robert Hall

2575: The Information in the Term Structure: Some Further Results

Frederic Mishkin

2574: Bubbles, Fads, and Stock Price Volatility Tests: A Partial Evaluation

Kenneth West

2573: The Time-Variation of Risk and Return in the Foreign Exchange and Stock Markets

Alberto Giovannini and Philippe Jorion

2572: Labor Demand and the Structure of Adjustment Costs

Daniel Hamermesh

2571: Investment, Depreciation, And Capital Utilization

Jeffrey Bernstein and M. Ishaq Nadiri

2570: Rates Of Return On Physical And R&D Capital And Structure Of The Production Process: Cross Section And Time Series Evidence

Jeffrey Bernstein and M. Ishaq Nadiri

2569: Pricing Physical Assets Internationally

Bernard Dumas

2568: Interpreting Cointegrated Models

John Campbell and Robert Shiller

2567: Inflation And Taxation With Optimizing Governments

James Poterba and Julio Rotemberg

2566: Immigration And Self-Selection

George Borjas

2565: Real Exchange Rate Variability under Pegged and Floating Nominal Exchange Rate Systems: An Equilibrium Theory

Alan Stockman

2564: Is There A Regional Bias in Federal Tax Subsidy Rates for Giving?

Charles Clotfelter and Daniel Feenberg

2563: The Impact Of New Unionization On Wages And Working Conditions: A Longitudinal Study Of Establishments Under NLRB Elections

Richard Freeman and Morris M. Kleiner

2562: Evaluating the European View that the US has No Unemployment Problem

Richard Freeman

2561: Job Queues and Wages: New Evidence on the Minimum Wage and Inter-Industry Wage Structure

Harry Holzer, Lawrence Katz and Alan Krueger

2560: Labor Market Institutions, Constraints, and Performance

Richard Freeman

2559: Financial Structure and Aggregate Economic Activity: An Overview

Mark Gertler

2558: Costs Of Financial Distress, Delayed Calls Of Convertible Bonds, And The Role Of Investment Banks

Dwight Jaffee and Andrei Shleifer

2557: On The Difference Between Tax And Spending Policies In Models With Finite Horizons

William Branson and Giampaolo Galli

2556: A Structural Equation Model for Tax Compliance and Auditing

Kurt Beron, Helen V. Tauchen and Ann Dryden Witte

2555: Resolving Debt Crises: An Historical Perspective

Barry Eichengreen

2554: Interindustry R&D Spillovers, Rates Of Return, and Production In High-Tech Industries

Jeffrey Bernstein and M. Ishaq Nadiri

2553: The Tax Reform Act Of 1986 And Economic Growth

Patric Hendershott

2552: Monetary Policy Without Quantity Variables

Benjamin M. Friedman

2551: Lessons On Monetary Policy From The 1980's

Benjamin M. Friedman

2550: Strikes and Wages: A Test of a Signalling Model

David Card

2549: The Contribution of a Monetary History of the United States: 1867 to 1960 To Monetary History

Michael Bordo

2548: Workers' Trust Funds and the Logic of Wage Profiles

George Akerlof and Lawrence Katz

2547: Learning In Equilibrium Models of Arbitration

Robert Gibbons

2546: Unemployment Insurance And Unemployment Spells

Bruce Meyer

2545: Hysteresis In Import Prices: The Beachhead Effect

Richard Baldwin

2544: The Macroeconomics of Exchange-rate and Price-level Interactions: Empirical Evidence for West Germany

Alberto Giovannini

2543: Compositional Effects of Government Spending in a Two-Country Two-SectorProduction Model

Steven Durlauf and Robert Staiger

2542: Exchange Rate Pass-Through When Market Share Matters

Kenneth Froot and Paul Klemperer

2541: LDC Debt: Forgiveness, Indexation, and Investment Incentives

Kenneth Froot, David Scharfstein and Jeremy Stein

2540: Product Development and International Trade

Gene Grossman and Elhanan Helpman

2539: Competitiveness, Realignment, and Speculation: The Role of Financial Markets

Maurice Obstfeld

2538: What Moves Stock Prices?

David Cutler, James Poterba and Lawrence Summers

2537: The Effect Of The Investment Tax Credit On The Value Of The Firm

Andrew Lyon

2536: National Price Levels and the Prices of Tradables and Nontradables

Irving B. Kravis and Robert Lipsey

2535: An Analysis Of Pension Benefit Formulas, Pension Wealth And Incentives From Pensions

Alan Gustman and Thomas L. Steinmeier

2534: Credit, Money, and Aggregate Demand

Ben Bernanke and Alan Blinder

2533: Fads, Martingales, and Market Efficiency

Bruce N. Lehmann

2532: Alternative Mechanisms for Corporate Control

Randall Morck, Andrei Shleifer and Robert Vishny

2531: The Line Item Veto and Public Sector Budgets: Evidence from the States

Douglas Holtz-Eakin

2530: Change in Market Assessments of Deposit-Institution Riskiness

Edward Kane and Haluk Unal

2529: On the Determinants of the Value of Call Options on Default-Free Bonds

Stephen A. Buser, Patric Hendershott and Anthony Sanders

2528: Can Public Spending Cuts be Inflationary?

Willem Buiter

2527: Optimal Policies with Strategic Distortions

Kala Krishna and Marie Thursby

2526: The Compliance Cost of Itemizing Deductions: Evidence from Individual Tax Returns

Mark Pitt and Joel Slemrod

2525: The Poor at Birth: Infant Auxology and Mortality at Philadelphia's Almshouse Hospital, 1848-1873

Claudia Goldin and Robert Margo

2524: Takeover Bids below the Expected Value of Minority Shares

Lucian Bebchuk

2523: Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment

Martin Eichenbaum

2522: Sectoral Shocks and Structural Unemployment

Michael Riordan and Robert Staiger

2521: Tariffs and Saving in a Model with New Families

Charles Engel and Kenneth Kletzer

2520: The Role of Demand Management in the Maintenance of Full Employment

Bennett McCallum

2519: Capital Subsidies and Countervailing Duties in Oligopolistic Industries

Barbara Spencer

2518: Rules Versus Discretion in Monetary Policy

Stanley Fischer

2517: The Implications of Insurance for the Efficacy of Fiscal Policy

Andrew Abel

2516: Has State Redistribution Policy Grown More Conservative?

Robert Moffitt

2515: Heckscher-Olin Theory and Non-Competitive Markets

Robert Staiger

2514: Organized Labor and the Scope of International Specialization

Robert Staiger

2513: The Challenge to U.S. Leadership in High-Technology Industries (Can the United States Maintain Its Lead? Should It Try?)

Rachel McCulloch

2512: Randomness in Tax Enforcement

Suzanne Scotchmer and Joel Slemrod

2511: Stock Prices, Earnings and Expected Dividends

John Campbell and Robert Shiller

2510: The Deadweight Loss from `Non-Neutral' Capital Income Taxation

Alan Auerbach

2509: Why Do Pensions Reduce Mobility?

Steven Allen, Robert L. Clark and Ann A. McDermed

2508: Deterrence, Work and Crime: Revisiting the Issues with Birth Cohort Data

Helen V. Tauchen, Ann Dryden Witte and Harriet Griesinger

2507: Randomization with Asymmetric Information

Richard Arnott and Joseph Stiglitz

2506: The Efficiency of the Market for Single-Family Homes

Karl Case and Robert Shiller

2505: Obstacles to International Macroeconomic Policy Coordination

Jeffrey Frankel

2504: The Political Economy of Controls: American Sugar

Anne O. Krueger

2503: The Informational Content of Ex Ante Forecasts

Ray Fair and Robert Shiller

2502: Structural Adjustment Policies in Highly Indebted Countries

Sebastian Edwards

2501: The Baby Boom's Legacy: Relative Wages in the 21st Century

Phillip Levine and Olivia Mitchell

2500: Are Public Sector Workers Paid More Than Their Alternative Wage? Evidence From Longitudinal Data and Job Queues

Alan Krueger

2499: The Determinants of Queues for Federal Jobs

Alan Krueger

2498: International Evidence on the Persistence of Economic Fluctuations

John Campbell and N. Gregory Mankiw

2497: Firm Heterogeneity, Internal Finance, and `Credit Rationing'

Charles Calomiris and Robert Hubbard

2496: Consumption: Beyond Certainty Equivalence

Olivier Blanchard and N. Gregory Mankiw

2495: VAR Models as Structural Approximations

Ray Fair

2494: Financial Market Imperfections and Business Cycles

Bruce C. Greenwald and Joseph Stiglitz

2493: Multinational Firms and Manufactured Exports from Developing Countries

Magnus Blomstrom, Irving B. Kravis and Robert Lipsey

2492: Investment Tax Incentives and Frequent Tax Reforms

Alan Auerbach and James Hines

2491: The Real Exchange Rate, Employment, and Output in Manufacturing in the U.S. and Japan

William Branson and James P. Love

2490: Does the Consumption of Different Age Groups Move Together? A New Nonparametric Test of Intergenerational Altruism

Andrew Abel and Laurence Kotlikoff