NBER Working Papers

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1706: On the Age at Leaving Home in the Early Nineteenth Century: Evidence from the Lives of New England Manufacturers

David Galenson

1705: Interest Rates, Money Supply Announcements, and Monetary Base Announcements

John Huizinga and Leonardo Leiderman

1704: The Ineffectiveness of Effective Tax Rates on Business Investment

Bob Chirinko

1703: Growth and External Debt Under Risk of Debt Repudiation

Daniel Cohen and Jeffrey Sachs

1702: The Behavior of Interest Rates and Real Exchange Rates During a Liberalization Episode: The Case of Chile 1973-83

Sebastian Edwards

1701: Marriage Patterns in the United States

David Bloom and Neil G. Bennett

1700: On the Nature and Estimation of Age. Period, and Cohort Effects in Demographic Data

David Bloom

1699: Monetary and Fiscal Policy Under Perfect Foresight: A Symmetric Two Country Analysis

Stephen J Turnovsky

1698: An Analysis of the Stabilizing and Welfare Effects of Intervention in Spot and Futures Markets

Robert B. Campbell and Stephen J Turnovsky

1697: Lending with Costly Enforcement of Repayment and Potential Fraud

Jonathan Eaton

1696: Aggregate Supply and Demand Factors in OECD Unemployment: An Update

Michael Bruno

1695: Affordability and the Value of Seller Financing

Donald Haurin and Patric Hendershott

1694: Real Interest and Consumption

Robert Hall

1693: The Impact of the Runaway Office on Union Certification Elections in Clerical Units

Beatrice J. Freiberg and William T. Dickens

1692: Capital Mobility in the World Economy: Theory and Measurement

Maurice Obstfeld

1691: Subsidies, Quality, and Regulation in the Nursing Home Industry

Paul Gertler

1690: Choice Under Uncertainty: A Model of Applications for the Social Security Disability Insurance Program

Janice Halpern and Jerry Hausman

1689: The Pricing of Bonds and Bank Loans in International Markets: An Empirical Analysis of Developing Countries' Foreign Borrowing

Sebastian Edwards

1688: The Economics of Reproduction-Related Health Care

Victor Fuchs and Leslie Perreault

1687: A Reappraisal of Recent Tests of the Permanent Income Hypothesis

Charles Nelson

1686: Is Increased Price Flexibility Stabilizing?

J. Bradford De Long and Lawrence Summers

1685: Productivity Growth in Manufacturing During Early Industrialization: Evidence from the American Northeast, 1820 to 1860

Kenneth Sokoloff

1684: Hidden Stimuli to Capital Formation: Debt and the Incomplete Adjustment of Financial Returns

Bob Chirinko and Stephen R. King

1683: Annuity Prices and Saving Behavior in the United States

Benjamin M. Friedman and Mark Warshawsky

1682: The Cost of Annuities: Implications for Saving Behavior and Bequests

Benjamin M. Friedman and Mark Warshawsky

1681: A Pigovian Rule for the Optimum Provision of Public Goods

Mervyn A. King

1680: Gibson's Paradox and the Gold Standard

Robert Barsky and Lawrence Summers

1679: Horizontal Equity: Measures in Search of a Principle

Louis Kaplow

1678: Monetary Policy Regime Shifts and the Unusual Behavior of Real Interest Rates

John Huizinga and Frederic Mishkin

1677: Unions, Pension Wealth, and Age-Compensation Profiles

Steven Allen and Robert L. Clark

1676: Are Devaluations Contractionary?

Sebastian Edwards

1675: Stopping Hyperinflation: Lessons from the German Inflation Experience of the 1920s

Rüdiger Dornbusch

1674: Dynamic R&D Competition

Gene Grossman and Carl Shapiro

1673: Sovereign Debt as a Contingent Claim: Excusable Default, Repudiation, and Reputation

Herschel Grossman and John van Huyck

1672: Using Survey Data to Test Some Standard Propositions Regarding Exchange Rate Expectations

Jeffrey Frankel and Kenneth Froot

1671: Bargaining Unit, Union, Industry, and Locational Correlates of Union Support in Certification and Decertification

William T. Dickens, Douglas R. Wholey and James Robinson

1670: Testing Dual Labor Market Theory: A Reconsideration of the Evidence

William T. Dickens and Kevin Lang

1669: The Changing Behavior of the Term Structure of Interest Rates

N. Gregory Mankiw and Jeffrey Miron

1668: Prizes and Incentives in Elimination Tournaments

Sherwin Rosen

1667: Regulated Price Discrimination and Quality: The Implications of Medicaid Reimbursement Policy for the Nursing Home Industry

Paul Gertler

1666: A Theory of Dual Labor Markets with Application to Industrial Policy, Discrimination and Keynesian Unemployment

Jeremy I. Bulow and Lawrence Summers

1665: Domestic Violence: A Non-random Affair

Helen V. Tauchen, Ann Dryden Witte and Sharon K. Long

1664: Capital Accumulation and Uncertain Lifetimes with Adverse Selection

Andrew Abel

1663: Monetary Dynamics with Proportional Transaction Costs and Fixed Payment Periods

Sanford Grossman

1662: Dimensions and Determinants of Early Childhood Health and Mortality Among American Slaves

Richard Steckel

1661: The Physical State of the British Working Class, 1870-1914: Evidence from Army Recruits

Roderick Floud, Kenneth W. Wachter and Annabel Gregory

1660: Predation through Regulation: The Wage and Profit Impacts of OSHA and EPA

Ann P. Bartel and Lacy Glenn Thomas

1659: Special Exchange Rates for Capital Account Transactions

Rüdiger Dornbusch

1658: Optimal Dynamic R&D Programs

Gene Grossman and Carl Shapiro

1657: Economic Effects of Municipal Government Institutions

Jeffrey Zax

1656: Who Escapes? The Relation of Church-Going & Other Background Factors to the Socio-Economic Performance of Blk. Male Yths. from Inner-City Pvrty Tracts

Richard Freeman

1655: The Indexation of Interest, Depreciation, and Capital Gains: A Model ofInvestment Incentives

Don Fullerton

1654: Time to Build, Option Value, and Investment Decisions

Saman Majd and Robert Pindyck

1653: How do Public Sector Wages and Employment Respond to Economic Conditions

Richard Freeman

1652: Union Maids: Unions and the Female Workforce

Richard Freeman and Jonathan Leonard

1651: Country Risk, Foreign Borrowing and the Social Discount Rate in an Open Developing Economy

Sebastian Edwards

1650: Estimates of the Value of Patent Rights in European Countries During thePost-1950 Period

Mark Schankerman and Ariel Pakes

1649: The Effect of Unionism on Productivity in Privately and Publicly Owned Hospitals and Nursing Homes

Steven Allen

1648: Unemployment, Disequilibrium, and the Short Run Phillips Curve: An Econometric Approach

Richard E. Quandt and Harvey Rosen

1647: Banking in General Equilibrium

Ben Bernanke and Mark Gertler

1646: Pubic Debt and U.S. Saving: A New Test of the Neutrality Hypothesis

Michael J. Boskin and Laurence Kotlikoff

1645: The Efficiency Gains from Social Security Benefit - Tax Linkage

Alan Auerbach and Laurence Kotlikoff

1644: Is the Strong Dollar Sustainable?

Paul Krugman

1643: Estimating the Continuous Time Consumption Based Asset Pricing Model

Sanford Grossman, Angelo Melino and Robert Shiller

1642: Employment, Hours, and Earnings in the Depression: An Analysis of EightManufacturing Industries

Ben Bernanke

1641: Wages in the Federal and Private Sectors

Steven Venti

1640: Are Imports to Blame?: Attribution of Injury Under the 1974 Trade Act

Robert Pindyck and Julio Rotemberg

1639: A Vintage Model of Supply Applied to French Manufacturing

Pentti J.K. Kouri, Jorge Braga de Macedo and Albert J. Viscio

1638: Hours Restrictions and Labor Supply

William T. Dickens and Shelly Lundberg

1637: Macroeconomic Interdependence of Japan and the United States: Some Simulation Results

Naoko Ishii, Warwick McKibbin and Jeffrey Sachs

1636: The Dollar and the Policy Mix: 1985

Jeffrey Sachs

1635: Implicit Contracts: A Survey

Sherwin Rosen

1634: Small Countries in Monetary Unions: A Two-Tier Model

Jorge Braga de Macedo

1633: Hospital Cost and Efficiency Under Per Service and Per Case Payment in Maryland: A Tale of the Carrot and the Stick

David Salkever, Donald M. Steinwachs and Agnes Rupp

1632: On the Limitations of Government Borrowing: A Framework for Empirical Testing

James Hamilton and Marjorie A. Flavin

1631: State Personal Income and Sales Taxes: 1977-1983

Daniel Feenberg and Harvey Rosen

1630: Pure Price Effects of Nonwage Compensation

Jeffrey Zax

1629: Borrowing Restrictions and Wealth Constraints: Implications for Aggregate Consumption

Carl Walsh

1628: Estimating Neonatal Mortality Rates from the Heights of Children: The Case of American Slaves

Richard Steckel

1627: A Tax-Based Test for Nominal Rigidities

James Poterba, Julio Rotemberg and Lawrence Summers

1626: Stock Returns and the Term Structure

John Campbell

1625: Serial Correlation of Asset Returns and Optimal Portfolios for the Long and Short Term

Stanley Fischer and George Pennacchi

1624: The Sensitivity of Labor Demand Functions to Choice of Dependent Variable

George Borjas

1623: Aggregate Output with Operating Rates and Inventories as Buffers BetweenVariable Final Demand and Quasi-Fixed Factors

John Helliwell and Alan Chung

1622: Pension Funding and Saving

B. Douglas Bernheim and John B. Shoven

1621: A Model for Analyzing Youth Labor Market Policies

Alan Gustman and Thomas L. Steinmeier

1620: Education Achievement in Segregated School Systems: The Effects of "Separate-But-Equal"

Robert Margo

1619: Credit Rationing and Effective Supply Failures

Alan Blinder

1618: Money and Interest in a Cash-in-Advance Economy

Robert Lucas and Nancy Stokey

1617: The Implications of Mean-Variance Optimization for Four Questions in International Macroeconomics

Jeffrey Frankel

1616: Do Wages Rise With Job Seniority?

Joseph Altonji and Robert A. Shakotko

1615: The Impossibility of Rational Bubbles

Behzad Diba and Herschel Grossman

1614: Valuation and Optimal Exercise of the Wild Card Option in the Treasury Bond Futures Market

Alex Kane and Alan Marcus

1613: On the Negative Correlation Between Performance and Experience and Education

Andrew Weiss and Henry Landau

1612: Asset Pricing Model Specification and the Term Structure Evidence

Terry A. Marsh

1611: Aspects of Investor Behavior Under Risk

Benjamin M. Friedman and V. Vance Roley

1610: Conventional Valuation and the Term Structure of Interest Rates

Robert Shiller

1609: Supply Shocks, Wage Indexation and Monetary Accommodation

Joshua Aizenman and Jacob A. Frenkel

1608: Part-Time Work vs. Full-Time Work of Married Women in Japan

Tadashi Yamada and Tetsuji Yamada

1607: Estimating the Effects of R&D on Bell System Productivity: A Model of Embodied Technical Change

Roger Gordon, Mark Schankerman and Richard H. Spady