NBER Working Papers

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1357: The Social Security Student Benefit Program and Family Decisions

Ronald Ehrenberg and Rebecca A. Luzadis

1356: The Asset Price Approach to the Analysis of Capital Income Taxation

Lawrence Summers

1355: A Fiscal Framework for Analysis of Interest Rate Behavior in Open Economies

John Makin

1354: Budget Deficits and Rates of Interest in the World Economy

Jacob A. Frenkel and Assaf Razin

1353: The Economic Effects of Dividend Taxation

James Poterba and Lawrence Summers

1352: Prospective Changes in Tax Law and the Value of Depreciable Real Estate

Patric Hendershott and David Ling

1351: The After Tax Rate of Return Affects Private Savings

Lawrence Summers

1350: Exchange Rates and Taxes

John Makin

1349: Microeconomic Evidence on the Composition of Effective Household SavingsDuring the 1960s and 1970s

Edward Kane

1348: The Effects of Social Security Reforms on Retirement Ages and RetirementIncomes

Gary Fields and Olivia Mitchell

1347: The Inefficiency of Marginal-Cost Pricing and The Apparent Rigidity of Prices

Robert Hall

1346: What Promises Are Worth: The Impact of Affirmative Action Goals

Jonathan Leonard

1345: Do Long-Term Interest Rates Overreact to Short-Term Interest Rates?

N. Gregory Mankiw and Lawrence Summers

1344: Targeted Export Promotion with Several Oligopolistic Industries

Avinash Dixit and Gene Grossman

1343: The 1981-82 Velocity Decline: A Structural Shift in Income or Money Demand?

Robert Gordon

1342: The Roles of the Terms of Trade and Nontraded-Good-Prices in Exchange Rate Variations

Alan Stockman and Harris Dellas

1341: Excess Sensitivity of Consumption to Current Income: Liquidity Constraints or Myopia?

Marjorie A. Flavin

1340: Patents as Options: Some Estimates of the Value of Holding European Patent Stocks

Ariel Pakes

1339: Contracts, Credibility, and Disinflation

Stanley Fischer

1338: Taxation and Pricing of Agricultural and Industrial Goods

Raaj Sah and Joseph Stiglitz

1337: Equilibrium Wage Distributions

Joseph Stiglitz

1336: External Debt, Budget Deficits and Disequilibrium Exchange Rates

Rüdiger Dornbusch

1335: Informational Imperfections in the Capital Market and Macro-Economic Fluctuations

Bruce C. Greenwald, Joseph Stiglitz and Andrew Weiss

1334: The Architecture of Economic Systems: Hierarchies and Polyarchies

Raaj Sah and Joseph Stiglitz

1333: Inflation and Real Interest Rates on Assets with Different Risk Characteristics

John Huizinga and Frederic Mishkin

1332: Measuring Aspects of Fiscal and Financial Policy

Willem Buiter

1331: Regulatory Structure in Futures Markets: Jurisdictional Competition Among the SEC, the CFTC, and Other Agencies

Edward Kane

1330: Recent U.S. Trade Policy and its Global Implications

Robert Baldwin and J. David Richardson

1329: Optimal Wage Indexation, Foreign-Exchange Intervention and Monetary Policy

Joshua Aizenman and Jacob A. Frenkel

1328: Affirmative Action as Earnings Redistribution: The Targeting of Compliance Reviews

Jonathan Leonard

1327: Splitting Blacks?: Affirmative Action and Earnings Inequality within and Across Races

Jonathan Leonard

1326: The Lucas Critique and the Volcker Deflation

Olivier Blanchard

1325: Cyclical Behavior of Prices and Quantities in the Automobile Market

Olivier Blanchard and Angelo Melino

1324: Capital Controls, The Dual Exchange Rate, and Devaluation

Maurice Obstfeld

1323: The Informational Content of Bond Ratings

Louis H. Ederington, Jess B. Yawitz and Brian E. Roberts

1322: Social Security and Pensions

Edward Lazear

1321: Trade Policy, Income, and Employment

Robert Baldwin

1320: Technological and Regulatory Forces in the Developing Fusion of Financial-Services Competition

Edward Kane

1319: Optimal Price Adjustment with Time-Dependent Costs

Joshua Aizenman

1318: The Heights of Europeans Since 1750: A New Source For European Economic History

Roderick Floud

1317: Open-Economy Implications of Two Models of Business Fluctuations

Alan Stockman and Ai Tee Koh

1316: A Reconsideration of the Effects of Unionism on Relative Wages and Employment in the United States, 1920-80

John Pencavel and Catherine E. Hartsog

1315: Funding and Asset Allocation in Corporate Pension Plans: An Empirical Investigation

Zvi Bodie, Jay O. Light, Randall Morck and Robert A. Taggart, Jr.

1314: A Test of Dual Labor Market Theory

William T. Dickens and Kevin Lang

1313: The Effects of Inflation and Money Supply Announcements on Interest Rates

Thomas Urich and Paul Wachtel

1312: Banking and Insurance

Joseph Haubrich and Robert King

1311: Unions and Equal Employment Opportunity

Jonathan Leonard

1310: The Impact of Affirmative Action on Employment

Jonathan Leonard

1309: The Behavior of U.S. Deficits

Robert Barro

1308: Simulating Alternative Social Security Responses to the Demographic Transition

Alan Auerbach and Laurence Kotlikoff

1307: The Demand for International Reserves and Monetary Equilibrium: Some Evidence From Developing Countries

Sebastian Edwards

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