NBER Working Papers

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2171: Are Prices Too Sticky?

Laurence Ball and David Romer

2170: Alternative Compensation Arrangements and Productive Efficiency in Partnerships: Evidence from Medical Group Practice

Martin Gaynor and Mark Pauly

2169: Permanent and Transitory Components in Macroeconomic Fluctuations

John Campbell and N. Gregory Mankiw

2168: Stock Market Prices Do Not Follow Random Walks: Evidence From a Simple Specification Test

Andrew Lo and A. Craig MacKinlay

2167: Validating Hiring Criteria

Andrew Weiss and Henry Landau

2166: Central Policies for Local Debt: The Case of Teacher Pensions

Robert P. Inman and David J. Albright

2165: Project Appraisal and Foreign Exchange Constraints: A Simple Exposition

Charles R. Blitzer, Partha Dasgupta and Joseph Stiglitz

2164: Macro-Economic Equilibrium and Credit Rationing

Joseph Stiglitz and Andrew Weiss

2163: The International Monetary System: Should it be Reconsidered?

Jacob A. Frenkel

2162: The Liberalization of the Current Capital Accounts and the Real ExchangeRate

Sebastian Edwards

2161: Suing Solely to Extract a Settlement Offer

Lucian Bebchuk

2160: Keynesian, New Keynesian, and New Classical Economics

Bruce C. Greenwald and Joseph Stiglitz

2159: Infant-Industry Protection Reconsidered: The Case of Informational Barriers to Entry

Gene Grossman and Henrik Horn

2158: Finite Lifetimes, Borrowing Constraints, and Short-Run Fiscal Policy

Robert Hubbard and Kenneth Judd

2157: Money: Theoretical Analysis of the Demand for Money

Bennett McCallum and Marvin Goodfriend

2156: The Development of Keynesian Macroeconomics

Bennett McCallum

2155: Dynamic Factor Models of Consumption, Hours, and Income

Joseph Altonji, Ana Paula Martins and Aloysius Siow

2154: Specification of the Joy of Giving: Insights from Altruism

Andrew Abel and Mark Warshawsky

2153: Inflation Stabilization with Incomes Policy Support: A Review of the Experience in Argentina, Brazil and Israel

Rüdiger Dornbusch and Mario Henrique Simonsen

2152: Monopolistic Competition and Labor Market Adjustment in the Open Economy

Joshua Aizenman

2151: The Dollar and Real Interest Rates

John Campbell and Richard Clarida

2150: Optimal Choice of Monetary Policy Instruments in a Macroeconometric Model

Ray Fair

2149: The Life-Cycle Permanent-Income Model and Consumer Durables

Avner Bar-ilan and Alan Blinder

2148: Incentive Effects of Price Rises and Payment-System Changes on Chinese Agricultural Productivity Growth

John McMillan, John Whalley and Zhu Li Jing

2147: Are Cyclical Fluctuations in Productivity Due More to Supply Shocks or Demand Shocks?

Matthew Shapiro

2146: Supply Shocks in Macroeconomics

Matthew Shapiro

2145: Compensation and Firm Performance

Ronald Ehrenberg and George T. Milkovich

2144: Recent Evidence on Budget Deficits and National Savings

James Poterba and Lawrence Summers

2143: Money and the Consumption Goods Market in China

Richard Portes and Anita Santorum

2142: Brazil's Tropical Plan

Eliana Cardoso and Rüdiger Dornbusch

2141: Saving and Investment in an Open Economy with Non-Traded Goods

Charles Engel and Kenneth Kletzer

2140: The Real Effects of Foreign Inflation in the Presence of Currency Substitution

Charles Engel

2139: Divergent Expectations as a Cause of Disagreement in Bargaining: Evidence from a Comparison of Arbitration Schemes."

Henry S. Farber and Max H. Bazerman

2138: Our LDC Debts

Rüdiger Dornbusch

2137: Collective Bargaining and the Division of the Value of the Enterprise

John Abowd

2136: Optimal Monetary Growth

Andrew Abel

2135: Why Do Fixed-Effects Models Perform So Poorly? The Case of Academic Salaries

Daniel Hamermesh

2134: Is Consumption Too Smooth?

John Campbell and Angus Deaton

2133: Monetary Growth, Inflation, and Economic Activity in a Dynamic Macro Model

Stephen J Turnovsky

2132: Should Tax Reform Level the Playing Field?

Lawrence Summers

2131: New Estimates of State and Local Government Tangible Capital and Net Investment

Michael J. Boskin, Marc S. Robinson and Alan M. Huber

2130: Fiscal Deficits, Exchange Rate Crises and Inflation

Sweder van Wijnbergen

2129: Ultimate Sources of Aggregate Variability

Robert Shiller

2128: Tax Policy, Asset Prices, and Growth: A General Equilibrium Analysis

Lawrence H. Goulder and Lawrence Summers

2127: Neoclassical and Sociological Perspectives on Segmented Labor Markets

Kevin Lang and William T. Dickens

2126: The Anatomy of Financial Crises

Barry Eichengreen and Richard Portes

2125: The Response of Interest Rates to the Federal Reserve's Weekly Money Announcements: The "Puzzle" of Anticipated Money

Richard Deaves, Angelo Melino and James Pesando

2124: The Adjustment of Expectations to a Change in Regime: A Study of the Founding of the Federal Reserve

N. Gregory Mankiw, Jeffrey Miron and David Weil

2123: Alternative Modes of Deficit Financing and Endogenous Monetary and Fiscal Policy 1923-1982

Stephen J Turnovsky

2122: How Far Has the Dollar Fallen?

Philippe Bacchetta and Martin Feldstein

2121: Labor Supply Preferences, Hours Constraints, and Hours-Wage Tradeoffs

Joseph Altonji and Christina Paxson

2120: Household Behavior and the Tax Reform Act of 1986

Jerry Hausman and James Poterba

2119: Tax Evasion and Capital Gains Taxation

James Poterba

2118: Why Have Corporate Tax Revenues Declined?

Alan Auerbach and James Poterba

2117: Social Security and the American Family

Michael J. Boskin and Douglas J. Puffert

2116: Testing for Real Effects of Monetary Policy Regime Shifts

Carl Walsh

2115: Market Structure and Cyclical Fluctuations in U.S. Manufacturing

Ian Domowitz, Robert Hubbard and Bruce Petersen

2114: A Note on Optimal Public Enforcement with Settlements and Litigation Costs

A. Mitchell Polinsky and Daniel L. Rubinfeld

2113: A Guide to Target Zones

Jacob A. Frenkel and Morris Goldstein

2112: Sources of Output and Price Variability in a Macroeconometric Model

Ray Fair

2111: The Other Side of the Trade Imbalance: What Will Japan Do?

Ryuzo Sato and John A. Rizzo

2110: Terms of Trade, Exchange Rates and Labor Markets Adjustment in Developing Countries

Sebastian Edwards

2109: Real Business Cycles and the Lucas Paradigm

Richard T. Froyen and Roger Waud

2108: Unions and Job Security in the Public Sector

Steven Allen

2107: Regional Effects of Taxes in Canada: An Applied General Equilibrium Approach

Rich Jones and John Whalley

2106: International Evidence on the Demand for Money

Ray Fair

2105: Interest Rate and Exchange Rate Determination

Ray Fair

2104: Married Women's Retirement Behavior

Silvana Pozzebon and Olivia Mitchell

2103: Tax Reform and Adjustment Costs: The Impact on Investment and Market Value

Alan Auerbach

2102: A Standard Monetary Model and the Variability of the Deutschemark-DollarExchange Rate

Kenneth West

2101: Did Henry Ford Pay Efficiency Wages?

Daniel M.G. Raff and Lawrence Summers

2100: The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors

John Campbell and Robert Shiller

2099: The Record and Improvability of Economic Forecasting

Victor Zarnowitz

2098: Real Estate and the Tax Reform Act of 1986

Patric Hendershott, James R. Follain and David Ling

2097: Assessing Dynamic Efficiency: Theory and Evidence

Andrew Abel, N. Gregory Mankiw, Lawrence Summers and Richard Zeckhauser

2096: Amnesty, Enforcement and Tax Policy

Herman B. Leonard and Richard Zeckhauser

2095: Forecasting the Depression: Harvard Versus Yale

Ray Fair, Matthew Shapiro and Kathryn Dominguez

2094: Tax Policy and Stock Prices

Thomas Downs and Patric Hendershott

2093: Imperfect Information, Credit Markets and Unemployment

Bruce C. Greenwald and Joseph Stiglitz

2092: Firm Size and Foreign Direct Investment

Magnus Blomstrom and Robert Lipsey

2091: New Developments in Corporate Finance and Tax Avoidance: Some Evidence

John B. Shoven

2090: Comparable Worth in a General Equilibrium Model of the U.S. Economy

Perry C. Beider, B. Douglas Bernheim, Victor Fuchs and John B. Shoven

2089: Employee Response to Compulsory Short-Time Work

Victor Fuchs and Joyce Jacobsen

2088: A Constant Recontracting Model of Sovereign Debt

Jeremy I. Bulow and Kenneth Rogoff

2087: Does the Estate Tax Raise Revenue?

B. Douglas Bernheim

2086: Is Everything Neutral?

B. Douglas Bernheim and Kyle Bagwell

2085: Growing in Debt: The 'Farm Crisis' and Public Policy

Charles Calomiris, Robert Hubbard and James Stock

2084: Optimal Monetary Growth with Accomodating Fiscal Policy in a Small Open Economy

Stephen J Turnovsky

2083: The Value of Patents as Indicators of Inventive Activity

Zvi Griliches, Ariel Pakes and Bronwyn Hall

2082: Tobin's Q and Financial Policy

Bob Chirinko

2081: The Export Performance of Swedish and U.S. Multinationals

Magnus Blomstrom and Robert Lipsey

2080: Deficits with Distortionary Taxes: International Dimensions

Jacob A. Frenkel and Assaf Razin

2079: Why did the Bank of Canada Emerge in 1935?

Michael Bordo and Angela Redish

2078: Contractionary Devaluation, and Dynamic Adjustment of Exports and Wages

Felipe Larrain and Jeffrey Sachs

2077: International Finance

Maurice Obstfeld

2076: International Debt Service and Economic Growth: Some Simple Analytics

Martin Feldstein

2075: How Integrated are World Capital Markets? Some New Tests

Maurice Obstfeld

2074: The Global Velocity Curve 1952-1982

Michael Bordo and Lars Jonung

2073: The Bolivian Hyperinflation and Stabilization

Jeffrey Sachs

2072: Increasing Indebtedness and Financial Stability in the United States

Benjamin M. Friedman