NBER Working Papers

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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

1606: Some Historical Evidence 1870-1933 on the Impact and International Transmission of Financial Crises

Michael Bordo

1605: Paying the Piper, Calling the Tune: Implications of Changes in Reimbursement

Victor Fuchs

1604: Does a Flexible Industry Wage Structure Increase Employment?: The U.S. Experience

Linda A. Bell and Richard Freeman

1603: Real Aspects of Exchange Rate Regime Choice with Collapsing Fixed Rates

Robert Flood and Robert Hodrick

1602: How Does the Market Value Unfunded Pension Liabilities?

Jeremy I. Bulow, Randall Morck and Lawrence Summers

1601: Ruling Out Nonstationary Speculative Bubbles

Maurice Obstfeld and Kenneth Rogoff

1600: Does the Tax System Favor Investment in High-Tech or Smoke-Stack Industries?

Don Fullerton and Andrew Lyon

1599: An Empirical Examination of Municipal Financial Policy

Roger Gordon and Joel Slemrod

1598: Capital Flows, Investment, and Exchange Rates

Alan Stockman and Lars Svensson

1597: The Effect of Job Complexity on Job Satisfaction: Evidence From Turnover and Absenteeism

Andrew Weiss

1596: On Consequences and Criticisms of Monetary Targeting

Bennett McCallum

1595: High School Graduation, Performance and Earnings

Andrew Weiss

1594: Parsimoneous Modeling of Yield Curves for U.S. Treasury Bills

Charles Nelson and Andrew F. Siegel

1593: Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes

Guillermo Calvo and Maurice Obstfeld

1592: The Effect of the Treasury Proposal on Charitable Giving: A Comparison of Constant and Variable Elasticity Models

Lawrence B. Lindsey

1591: Purchasing Power Parity

Rüdiger Dornbusch

1590: Exchange Rate Management: Intertemporal Tradoffs

Elhanan Helpman and Assaf Razin

1589: Monetary Information and Interest Rates

Carl Walsh

1588: Game Modelling the Tokyo Round of Tariff Negotiations

Robert Baldwin and Richard N. Clarke

1587: Shifts in the Nineteenth-Century Phillips Curve Relationship

John James

1586: Macroeconomic Stabilization Through Taxation and Indexation: The use ofFirm-Specific Information

Richard C. Marston and Stephen J Turnovsky

1585: A Disaggregated, Structural Analysis of Retirement by Race, Difficulty of Work and Health

Alan Gustman and Thomas L. Steinmeier

1584: International Monetary Policy to Promote Economic Recovery

Willem Buiter

1583: On the Complementarity of Commercial Policy, Capital Controls and Inflation Tax

Joshua Aizenman

1582: Labor Relations, Wages and Nonwage Compensation in Municipal Employment

Jeffrey Zax

1581: A Variance Bounds Test of the Linear Quardractic Inventory Model

Kenneth West

1580: Money Demand Predictability

V. Vance Roley

1579: Firm-Level Policy Toward Older Workers

Olivia Mitchell and Rebecca A. Luzadis

1578: Collective Bargaining Laws and Threat Effects of Unionism in the Determination of Police Compenstation

Richard Freeman, Casey Ichniowski and Harrison Lauer

1577: The Real Exchange Rate as a Tool of Commercial Policy

Michael Mussa

1576: Exchange Rate and Current Account Dynamics Under Rational Expectations: An Econometric Analysis

David Papell