NBER Working Papers

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1057: On the Relevance or Irrelevance of Public Financial Policy

Joseph Stiglitz

1056: Petrodollars and the Differential Growth Performance of Industrial and Middle-Income Countries in the 1970s

Michael Bruno

1055: Youth Employment in the Seventies: The Changing Circumstances of Young Adults

David T. Ellwood and David Wise

1054: Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression

Ben Bernanke

1053: The Accuracy of Individual and Group Forecasts from Business Outlook Surveys

Victor Zarnowitz

1052: On the Monetization of Deficits

Alan Blinder

1051: Do Asset-Demand Functions Optimize over the Mean and Variance of Real Returns? A Six-Currency Test

Jeffrey Frankel and Charles Engel

1050: Macroeconomics After a Decade of Rational Expectations: Some Critical Issues

Bennett McCallum

1049: Why Money Announcements Move Interest Rates: An Answer from the Foreign Exchange Market

Charles Engel and Jeffrey Frankel

1048: Are Real Interest Rates Equal Across Countries? An Empirical Investigation of International Parity Conditions

Frederic Mishkin

1047: The Real Interest Rate: A Multi-Country Empirical Study

Frederic Mishkin

1046: Real Wages and the Terms of Trade: Alternative Indexation Rules for an Open Economy

Richard C. Marston

1045: Malfeasance in Long Term Employment Contracts: A New General Model with an Application to Unionism

Peter Kuhn

1044: The Role of Expectations in the Choice of Monetary Policy

John Taylor

1043: The Welfare Cost of Distortions in the United States Tax System: A General Equilibrium Approach

Charles Ballard, John B. Shoven and John Whalley

1042: Elasticities of Demand for Educated Labor and Elasticities of Supply of Educated Labor

Richard Freeman

1041: The Employment and Wage Effects of Import Competition in the United States

Gene Grossman

1040: Life Insurance Savings and the After-Tax Life Insurance Rate of Return

Mark Warshawsky

1039: The Gold Standard and the Bank of England in the Crisis of 1847

Rüdiger Dornbusch and Jacob A. Frenkel

1038: Adjustment Costs, Durables, and Aggregate Consumption

Ben Bernanke

1037: U.S.-Owned Affiliates and Host-Country Exports

Robert Lipsey and Irving B. Kravis

1036: Government Policies and the Allocation of Capital Between Residential and Industrial Uses

Patric Hendershott

1035: Flexible Exchange Rates and Interdependence

Rüdiger Dornbusch

1034: Towards an Explanation of National Price Levels

Irving B. Kravis and Robert Lipsey

1033: Money, Credit and Nonfinancial Economic Activity: An Empirical Study of Five Countries

Benjamin M. Friedman

1032: On the Adequacy or Inadequacy of Keynesian Balance-of-Payments Theory: A Rejoinder

Willem Buiter and Jonathan Eaton

1031: Crime and the Labor Market

Richard Freeman

1030: The Effects of Government Regulation on Teenage Motor Vehicle Mortality

Dennis C. McCornac

1029: Labor Force Entry and Exit of Older Men: A Longitudinal Study

Frederic P. Slade

1028: On Choosing a Flat-Rate Income Tax Schedule

Joel Slemrod and Shlomo Yitzhaki

1027: Investment versus Savings Incentives: The Size of the Bang for the Buck and the Potential for Self-Financing Business Tax Cuts

Alan Auerbach and Laurence Kotlikoff

1026: Taxation, Corporate Financial Policy and the Cost of Capital

Alan Auerbach

1025: The Theory of Excess Burden and Optimal Taxation

Alan Auerbach

1024: Issues in the Measurement and Determinants of Business Saving

Alan Auerbach

1023: Observations on the Indexation of Old Age Pensions

Lawrence Summers

1022: Swedish Firms Acquired by Foreigners: A Comparison of Before and After Takeover

Robert Lipsey and Linda O'Connor

1021: Empirical Studies of Macroeconomic Interdependence

John Helliwell and Tim Padmore

1020: The Impact of Public Health Policy: The Case of Community Health Centers

Fred Goldman and Michael Grossman

1019: The Value of Waiting to Invest

Robert L. McDonald and Daniel Siegel

1018: The U.S. Productivity Slowdown: A Case of Statistical Myopia

Michael Darby

1017: Financing and Investment in Plant and Equipment and Research and Development

Jeffrey Bernstein and M. Ishaq Nadiri

1016: Research and Development, Utilization and Labor Requirements: A Dynamic Analysis

Jeffrey Bernstein and M. Ishaq Nadiri

1015: Dynamic Factor Demands Under Rational Expectations

Robert Pindyck and Julio Rotemberg

1014: Optimal Financial Aid Policies for a Selective University

Ronald Ehrenberg and Daniel R. Sherman

1013: The Proper Measurement of Government Budget Deficits: Comprehensive Wealth Accounting or Permanent Income Accounting for the Public Sector

Willem Buiter

1012: Moving and Housing Expenditure: Transaction Costs and Disequilibrium

Steven Venti and David Wise

1011: Unemployment Insurance and Reservation Wages

Martin Feldstein and James Poterba

1010: The Natural-Rate Hypothesis, the Rational-Expectations Hypothesis, and the Remarkable Survival of Non-Market-Clearing Assumptions

Herschel Grossman

1009: Recent Trends in U.S. Trade and Investment

Robert Lipsey

1008: The Diffusion of Innovations: A Methodological Reappraisal

Manuel Trajtenberg and Shlomo Yitzhaki

1007: The Transition from School to Work: The Experiences of Blacks and Whites

Robert H. Meyer and David Wise

1006: The Determination of the Union Status of Workers

Henry S. Farber

1005: Profitability, Employment and Structural Adjustment in France

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

1004: An Optimal Taxation Approach to Fiscal Federalism

Roger Gordon

1003: Money and the Terms of Trade

Julio Rotemberg

1002: Sex-Related Wage Differentials and Women's Interrupted Labor Careers--The Chicken or the Egg

Reuben Gronau

1001: The Response of Short-Term Interest Rates to Weekly Money Announcements

V. Vance Roley

1000: Partial Retirement and Wage Profiles of Older Workers

Alan Gustman and Thomas L. Steinmeier

999: Factor Trade and Goods Trade

Lars Svensson

998: Cost-of-Living Adjustment Clauses in Union Contracts

Ronald Ehrenberg, Leif Danziger and Gee San

997: Adjustment to Expected and Unexpected Oil Price Changes

Nancy Marion and Lars Svensson

996: Arbitrage, Factor Structure, and Mean-Variance Analysis on Large Asset Markets

Gary Chamberlain and Michael Rothschild

995: Tax Policy, the Rate of Return, and Savings

Lawrence Summers

994: Do We Really Know That Financial Markets Are Efficient?

Lawrence Summers

993: Money Surprises and Short-Term Interest Rates: Reconciling ContradictoryFindings

John Makin

992: On Variable Capital Utilization and International Trade Theory

Lars Svensson

991: Oil Prices, Welfare and the Trade Balance: An Intertemporal Approach

Lars Svensson

990: Unionization and Firm Performance: The Impact on Profits, Growth and Productivity

Kim B. Clark

989: The Role of Overlapping-Generations Models in Monetary Economics

Bennett McCallum

988: Identification in Tax-Price Regression Models: The Case of Charitable Giving

Daniel Feenberg

987: Inflation, Monetary Velocity, and Welfare

Paul Krugman, Torsten Persson and Lars Svensson

986: Social Security and Labor Supply Incentives

Roger Gordon

985: Union Wage Settlements During a Disinflation

John Taylor

984: Covered Interest Parity, Uncovered Interest Parity, and Exchange Rate Dynamics

Jonathan Eaton and Stephen J Turnovsky

983: Equilibrium and Disequilibrium Exchange Rates

Rüdiger Dornbusch

982: Issues in the Coordination of Monetary and Fiscal Policy

Alan Blinder

981: Production Technology Differences Between Canadian-Owned and Foreign-Owned Firms Using Translog-Production Functions

Vittorio Corbo and Oli Havrylyshyn

980: Monetary Policy with a Credit Aggregate Target

Benjamin M. Friedman

979: Are Unemployment and Out of the Labor Force Behaviorally Distinct Labor Force States?

Christopher Flinn and James Heckman

978: A Monetary Equilibrium Model with Transactions Costs

Julio Rotemberg

977: Labor Force Participation: Timing and Persistence

Kim B. Clark and Lawrence Summers

976: Life-Cycle Effects on Consumption and Retirement

Daniel Hamermesh

975: Unemployment with Observable Aggregate Shocks

Sanford Grossman, Oliver Hart and Eric Maskin

974: A Transactions Based Model of the Monetary Transmission Mechanism: Part 2

Sanford Grossman

973: A Transactions Based Model of the Monetary Transmission Mechanism: Part 1

Sanford Grossman and Laurence Weiss

972: A Theory of Expropriation and Deviations From Perfect Capital Mobility

Jonathan Eaton and Mark Gersovitz

971: Anticipations, Recessions and Policy: An Intertemporal Disequilibrium Model

Olivier Blanchard and Jeffrey Sachs

970: The Optimal Level of Social Security Benefits

Martin Feldstein

969: The Welfare Cost of Social Security's Impact on Private Saving

Martin Feldstein

968: An Extended Accelerator Model of R&D and Physical Investment

Jacques Mairesse and Alan K. Siu

967: Tax Policy and Foreign Direct Investment in the United States

David G. Hartman

966: The Fiscal Framework of Monetary Policy

Martin Feldstein

965: Government Debt and Private Leverage: An Extension of the Miller Theorem

Robert L. McDonald

964: The Economic Effects of Government Expenditures

Laurence Kotlikoff

963: Exchange Rates, Inflation and the Sterilization Problem: Germany, 1975-1981

Maurice Obstfeld

962: Pension Wealth and Household Savings: Tests of Robustness

Louis Dicks-Mireaux and Mervyn A. King

961: Comparing Productivity Growth: An Exploration of French and U.S. Industrial and Firm Data

Zvi Griliches and Jacques Mairesse

960: International Portfolio Diversification: Short-Term Financial Assets and Gold

Jorge Braga de Macedo, Jeffrey A. Goldstein and David M. Meerschwam

959: Optimal Currency Diversification for a Class of Risk Averse International Investors

Jorge Braga de Macedo

958: The Reaction of Stock Prices to Unanticipated Changes in Money

Douglas Pearce and V. Vance Roley