NBER Working Papers

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1306: Monetarist Monetary Policy, Exchange Risk, and Exchange Rate Variability

David Papell

1305: The Permanent Income Hypothesis and Consumption Durability: Analysis Based on Japanese Panel Data

Fumio Hayashi

1304: Pecuniary & Market Mediated Externalities: Towards a General Theory of the Welfare Economics & Economies with Imperfect Information & Incomplete Mrkts

Bruce C. Greenwald and Joseph Stiglitz

1303: Bequests as a Means of Payment

B. Douglas Bernheim, Andrei Shleifer and Lawrence Summers

1302: Taxation and Savings - A Neoclassical Perspective

Laurence Kotlikoff

1301: Supply Shocks and Monetary Policy Revisited

Robert Gordon

1300: Rational Bubbles in the Price of Gold

Behzad Diba and Herschel Grossman

1299: Incentives and Wage Rigidity

Edward Lazear

1298: External Shocks and Domestic Response: Israel's Macroeconomic Performance, 1965-1982

Michael Bruno

1297: The Demand for Labor in the Long Run

Daniel Hamermesh

1296: Stock Prices and Economic News

Douglas Pearce and V. Vance Roley

1295: Some Pleasant Monetarist Arithmetic

Michael Darby

1294: Some Issues Concerning Interest Rate Pegging, Price Level Determinacy, and the Real Bills Doctrine

Bennett McCallum

1293: Effect of Expected Future Government Deficits on Current Economic Activity

Ray Fair

1292: Excess Labor and the Business Cycle

Ray Fair

1291: Macroeconomics and Finance: The Role of the Stock Market

Stanley Fischer and Robert Merton

1290: Labor Compensation and the Structure of Private Pension Plans: Evidence for Contractual Versus Spot Labor Markets

Laurence Kotlikoff and David Wise

1289: Exchange Market Intervention Under Alternative Forms of Exogenous Disturbances

Stephen J Turnovsky

1288: New Evidence that Taxes Affect the Valuation of Dividends

James Poterba and Lawrence Summers

1287: Asset Markets, Exchange Rates and the Balance of Payments

Jacob A. Frenkel and Michael Mussa

1286: How Big is the Tax Advantage to Debt?

Alex Kane, Alan Marcus and Robert L. McDonald

1285: Pensions and the Retirement Decision

Barry Nalebuff and Richard Zeckhauser

1284: Taxation, Wage Variation, and Job Choice

James N. Brown and Harvey Rosen

1283: The Specification and Influence of Asset Markets

William Branson and Dale Henderson

1282: Trade and Structural Interdependence Between the U.S. and the NICs

William Branson

1281: Exchange Rate Dynamics with Sticky Prices: The Deutsch Mark, 1974-1982

Alberto Giovannini and Julio Rotemberg

1280: Incentives for Diversification and the Structure of the Conglomerate Firm

William J. Marshall, Jess B. Yawitz and Edward Greenberg

1279: Optimal Wage Re-Negotiation

Joshua Aizenman

1278: Unanticipated Money and Interest Rates

V. Vance Roley and Carl Walsh

1277: Monetarist Rules in the Light of Recent Experience

Bennett McCallum

1276: Black Youth Nonemployment: Duration and Job Search

Harry Holzer

1275: Accounting For The Decline in Union Membership

William T. Dickens and Jonathan Leonard

1274: The Interaction of Residential Segregation and Employment Discrimination

Jonathan Leonard

1273: The Behavior of U.S. Short-Term Interest Rates Since October 1979

Richard Clarida and Benjamin M. Friedman

1272: Lessons from the 1979-1982 Monetary Policy Experiment

Benjamin M. Friedman

1271: Family Labor Supply With Taxes

Jerry Hausman and Paul Ruud

1270: Employment and Occupational Advance Under Affirmative Action

Jonathan Leonard

1269: "Though Much is Taken" -- Reflections on Aging, Health, and Medical Care

Victor Fuchs

1268: Expectations, Surprises and Treasury Bill Rates: 1960-82

Patric Hendershott

1267: Trading and the Tax Shelter Value of Depreciable Real Estate

Patric Hendershott and David Ling

1266: Fiscal Policies, Debt, and International Economic Interdependence

Jacob A. Frenkel and Assaf Razin

1265: Current and Anticipated Deficits, Interest Rates and Economic Activity

Olivier Blanchard

1264: R&D, Production Structure, and Productivity Growth in the U.S., Japaneseand German Manufacturing Sectors

Pierre Mohnen, M. Ishaq Nadiri and Ingmar Prucha

1263: Air Pollution and Lost Work

Jerry Hausman, Bart D. Ostro and David Wise

1262: Incentive Effects of Taxes on Income From Capital: Alternative Policies in the 1980's

Don Fullerton and Yolanda K. Henderson

1261: Military Enlistments: What Can We Learn From Geographic Variation?

Charles Brown

1260: Work Incentive Effects of Taxing Unemployment Benefits

Gary Solon

1259: Restriced Cost Functions and the Rate of Return to Quasi-Fixed Factors, with an Application to R&D and Capital in the Bell System

Mark Schankerman and M. Ishaq Nadiri

1258: The Federal Civil Service Retirement System: An Analysis of its Financial Condition and Current Reform Proposals

Herman B. Leonard

1257: Can The Production Smoothing Model of Inventory Behavior be Saved?

Alan Blinder

1256: Occupation, Race, Unemployment and Crime In a Dynamic System

Michael Massourakis, Farahmand Rezvani and Tadashi Yamada

1255: Real Exchange Rate Effects of Fiscal Policy

Jeffrey Sachs and Charles Wyplosz

1254: Imported Materials Prices, Wage Policy, and Macroeconomic Stabilization

Richard C. Marston and Stephen J Turnovsky

1253: Tariff Liberalization Policy and Financial Restrictions

Joshua Aizenman

1252: Costs and Benefits of an Anti-Inflationary Policy: Questions and Issues

Willem Buiter and Marcus Miller

1251: Life-Cycle Labor Force Participation of Married Women: Historical Evidence and Implications

Claudia Goldin

1250: Annuity Markets, Savings, and the Capital Stock

Laurence Kotlikoff, John B. Shoven and Avia Spivak

1249: Trade Unions and Productivity: Some New Evidence on an Old Issue

Richard Freeman and James Medoff

1248: Earnings and Dividend Announcements is there a Corroboration Effect?

Alex Kane, Young Ki Lee and Alan Marcus

1247: The Economics of Saving

Mervyn A. King

1246: The Effects of Interest Rates on Mortgage Prepayments

Jerry Green and John B. Shoven

1245: The Welfare Effects of Trade and Capital Market Liberalization: Consequences of Different Sequencing Scenarios

Sebastian Edwards and Sweder van Wijnbergen

1244: Activist Monetary Policy, Imperfect Capital Mobility, and the Overshooting Hypothesis

David Papell

1243: The Forecasting Ability of Money Market Fund Managers and its Economic Value

Alex Kane and Young Ki Lee

1242: International Capital Mobility and the Coordination of Monetary Rules

Nicholas Carlozzi and John Taylor

1241: Taxation and the Location of U.S. Investment Abroad

Daniel J. Frisch and David G. Hartman

1240: Anti-Discrimination or Reverse Discrimination: The Impact of Changing Demographics, Title VII and Affirmative Action on Productivity

Jonathan Leonard

1239: Uncertainty, Welfare Cost, and the 'Adaptability' of U.S. Corporate Taxes

Don Fullerton, Andrew Lyon and Richard Rosen

1238: Does Knowledge Intensity Matter? A Dynamic Analysis of Research and Development, Capital Utilization and Labor Requirements

Jeffrey Bernstein and M. Ishaq Nadiri

1237: A Structural Retirement Model

Alan Gustman and Thomas L. Steinmeier

1236: Optimal Trade and Industrial Policy Under Oligopoly

Jonathan Eaton and Gene Grossman

1235: Inflation and Growth

Stanley Fischer

1234: Public Opinion and the Balanced Budget

Alan Blinder and Douglas Holtz-Eakin

1233: Openness, Relative Prices and Macro Policies

Joshua Aizenman

1232: The Theory of Optimum Deficits and Debt

Willem Buiter

1231: Food Stamps as Money and Income

Daniel Hamermesh and James M. Johannes

1230: Exchange-Rate Dynamics

Maurice Obstfeld and Alan Stockman

1229: The Social Cost of Labor, and Project Evaluation: A General Approach

Joseph Stiglitz and Raaj Sah

1228: U.S. International Trade Policies in a World of Industrial Change

J. David Richardson

1227: Patents and R&D: Searching for a Lag Structure

Bronwyn Hall, Zvi Griliches and Jerry Hausman

1226: Unions, Pensions, and Union Pension Funds

Richard Freeman

1225: Optimal Stabilization Rules in a Stochastic Model of Investment with Gestation Lags

John Taylor

1224: Rational Expectations Models in Macroeconomics

John Taylor

1223: Modeling Individuals' Behavior: Evaluation of a Policymaker's Tool

Alan Gustman

1222: Economic and Statistical Analysis of Discrimination in Hiring

Ronald Ehrenberg and Robert S. Smith

1221: The Conduct of Domestic Monetary Policy

Robert Gordon

1220: A Model of the Socially Optimal Use of Liability and Regulation

Steven Shavell

1219: Uncertainty Over Causation and the Determination of Civil Liability

Steven Shavell

1218: Liability for Harm Versus Regulation of Safety

Steven Shavell

1217: Corporate Pension Policy and the Value of PBGC Insurance

Alan Marcus

1216: Sticky Prices, Money and Business Fluctuations

Robert King and Joseph Haubrich

1215: Taxes, Default Risk, and Yield Spreads

Jess B. Yawitz, Kevin J. Maloney and Louis H. Ederington

1214: Average Marginal Tax Rates from Social Security and the Individual Income Tax

Robert Barro and Chaipat Sahasakul

1213: Capital Allocation in Mult-Division Firms: Hurdle Rates vs. Budgets

Robert A. Taggart, Jr.

1212: Social Security Reform and Labor Supply

Alan Gustman and Thomas L. Steinmeier

1211: Automobile Prices and Quality: Did the Gasoline Price Increase Change Consumer Tastes in the U.S.?

Makoto Ohta

1210: Using Monetary Control to Dampen the Business Cycle: A New Set of First Principles

Robert Gordon

1209: Managing the U.S. Government Deficit in the 1980s

Benjamin M. Friedman

1208: Recent Perspectives in and on Macroeconomics

Benjamin M. Friedman

1207: Longitudinal Analyses of the Effects of Trade Unions

Richard Freeman