NBER Working Papers

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757: Tax Reform and Corporate Investment: A Microeconometric Simulation Study

Michael Salinger and Lawrence Summers

756: Permanent Income, Liquidity, and Expenditure on Automobiles: Evidence from Panel Data

Ben Bernanke

755: Accelerating Inflation, Nonassumable Fixed-Rate Mortgages, and Consumer Choice and Welfare

Patric Hendershott and Sheng Cheng Hu

754: Intergenerational Effects of the Distribution of Income and Wealth: The Utah Experience, 1850-1900

J. R. Kearl and Clayne L. Pope

753: Inflation, Tax Rules, and the Accumulation of Residential and Nonresidential Capital

Martin Feldstein

752: Union Wage Practices and Wage Dispersion within Establishments

Richard Freeman

751: Have Black Labor Market Gains Post-1964 Been Permanent or Transitory?

Richard Freeman

750: Career Patterns of College Graduates in a Declining Job Market

Richard Freeman

749: Real Exchange Rate Overshooting and the Output Cost of Bringing Down Inflation

Willem Buiter and Marcus Miller

748: Aspects of the Optimal Management of Exchange Rates

Jacob A. Frenkel and Joshua Aizenman

747: Capital Structure Equilibrium under Incomplete Market Conditions

Lemma W. Senbet and Robert A. Taggart, Jr.

746: Tax Exporting and the Commerce Clause: Reflections on Commonwealth Edison

Charles E. McLure, Jr.

745: Financing Capital Formation in the 1980s: Issues for Public Policy

Benjamin M. Friedman

744: Price Inertia and Policy Ineffectiveness in the United States, 1890-1980

Robert Gordon

743: On the Role of Social Security as a Means for Efficient Risk-Bearing in an Economy Where Human Capital Is Not Tradeable

Robert Merton

742: Pigouvian Taxation with Administrative Costs

A. Mitchell Polinsky and Steven Shavell

741: The Social versus the Private Incentive to Bring Suit in a Costly Legal System

Steven Shavell

740: The Effective Tax Rate and the Pretax Rate of Return

Martin Feldstein, James Poterba and Louis Dicks-Mireaux

739: Housing Finance in the United States in the Year 2001

Patric Hendershott and Kevin E. Villani

738: The Terminations Premium in Mortgage Coupon Rates: Evidence on the Integration of Mortgage and Bond Markets

Patric Hendershott and Kevin E. Villani

737: Implications of Corporate Capital Structure Theory for Banking Institutions

Yair E. Orgler and Robert A. Taggart, Jr.

736: Macroeconomic Adjustment and Foreign Trade of Centrally Planned Economies

John Burkett, Richard Portes and David Winter

735: The Impact of Collective Bargaining: Illusion or Reality?

Richard Freeman and James Medoff

734: Social Security and the Decision to Retire

Anthony J. Pellechio

733: Taxation and On-the-job Training Decisions

Harvey Rosen

732: Measurement Error and the Flow of Funds Accounts: Estimates of HouseholdAsset Demand Equations

Carl Walsh

731: Changes in the Provision of Correspondent-Banking Services and the Role of Federal Reserve Banks under the DIDMC Act

Edward Kane

730: An Examination of Empirical Tests of Social Security and Savings

Alan Auerbach and Laurence Kotlikoff

729: National Savings, Economic Welfare, and the Structure of Taxation

Alan Auerbach and Laurence Kotlikoff

728: Transition from Inflation to Price Stability

Peter Garber

727: On the Design of Contracts and Remedies for Breach

Steven Shavell

726: An Integrated View of Tests of Rationality, Market Efficiency, and the Short-Run Neutrality of Monetary Policy

Andrew Abel and Frederic Mishkin

725: Savings and Loan Usage of the Authority to Invest in Corporate Debt

Patric Hendershott and Kevin E. Villani

724: Tax Aspects of Corporate Pension Funding Policy

Jeremy I. Bulow

723: Inflation, Real Interest, and the Determinacy of Equilibrium in an Optimizing Framework

Maurice Obstfeld

722: The Relative Productivity Hypothesis of Industrialization: The American Case, 1820-1850

Claudia Goldin and Kenneth Sokoloff

721: Bilateral Contracts

Jerry Green and Seppo Honkapohja

720: Intertemporal Substitution in Consumption

Robert Hall

719: The Efficiency of Decentralized Investment Management Systems

David S. Jones

718: The Allocation of Capital Between Residential and Nonresidential Uses: Taxes, Inflation and Capital Market Constraints

Patric Hendershott and Sheng Cheng Hu

717: The Effect of Unions on Productivity in the Public Sector: The Case of Libraries

Ronald Ehrenberg and Joshua L. Schwarz

716: A Comment on Feldstein's Fisher-Schultz Lecture

Ray Fair

715: Four Observations on Modern International Commercial Policy under Floating Exchange Rates

J. David Richardson

714: Risk Sharing through Breach of Contract Remedies

A. Mitchell Polinsky

713: Effects of Inflation on the Pattern of International Trade

Alan Stockman

712: The Sources of Labor Productivity Variation in U.S. Manufacturing, 1947-80

Ben Bernanke

711: Discontinuous Distributions and Missing Persons: The Minimum Wage and Unemployed Youth

Robert H. Meyer and David Wise

710: Test Scores, Educational Opportunities, and Individual Choice

Steven Venti and David Wise

709: Test Scores and Self-Selection of Higher Education: College Attendance versus College Completion

Steven Venti and David Wise

708: Inflation, Flexible Exchange Rates, and the Natural Rate of Unemployment

Robert Gordon

707: Economic Well-Being and Child Labor: The Inter action of Family and Industry

Claudia Goldin and Donald Parsons

706: The Added-Worker Effect: A Reappraisal

Shelly Lundberg

705: Real and Monetary Disturbances in an Exchange-Rate Union

Richard C. Marston

704: Debt and Economic Activity in the United States

Benjamin M. Friedman

703: Private Pensions as Corporate Debt

Martin Feldstein

702: Changing Balance Sheet Relationships in the U.S. Manufacturing Sector, 1926-77

John H. Ciccolo, Jr.

701: Investment Strategy in an Inflationary Environment

Zvi Bodie

700: Risk and Return: A New Look

Burton G. Malkiel

699: Inflation, Resource Utilization, and Debt and Equity Returns

Patric Hendershott

698: Taxation and Excess Burden: A Life-Cycle Perspective

Edward Driffill and Harvey Rosen

697: Implications of the Changing U.S. Labor Market for Higher Education

Richard Freeman

696: Estimated Effects of Relative Prices on Trade Shares

Ray Fair

695: Familial Love and Intertemporal Optimality

Herschel Grossman

694: Utilitarianism and Horizontal Equity: The Case for Random Taxation

Joseph Stiglitz

693: Monetary Policy and Short-Term Interest Rates: An Efficient Markets-Rational Expectations Approach

Frederic Mishkin

692: Wealth Mobility: The Missing Element

J. R. Kearl and Clayne L. Pope

691: A Systematic Banking Collapse in a Perfect Foresight World

Robert Flood and Peter Garber

690: Consumption Correlatedness and Risk Measurement in Economies with Non trade Assets and Heterogeneous Information

Sanford Grossman and Robert Shiller

689: Tax Policy and Foreign Direct Investment

David G. Hartman

688: Pitfalls in the Construction and Use of Effective Tax Rates

David Bradford and Don Fullerton

687: Taxation of Corporate Capital Income: Tax Revenues vs. Tax Distortions

Roger Gordon

686: Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?

Maurice Obstfeld

685: Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight

Maurice Obstfeld

684: On Non-Uniqueness in Rational Expectations Models: An Attempt at Perspective

Bennett McCallum

683: The Decline in Black Teenage Employment: 1950-1970

John F. Cogan

682: Simulating Nonlinear Tax Rules and Nonstandard Behavior: An Application to the Tax Treatment of Charitable Contributions

Martin Feldstein and Lawrence B. Lindsey

681: Alternative Tax Rules and Personal Savings Incentives: Microeconomic Data and Behavioral Simulations

Martin Feldstein and Daniel Feenberg

680: Inflation, Capital Taxation, and Monetary Policy

Martin Feldstein

679: Has the Rate of Investment Fallen?

Martin Feldstein

678: Information and Capital Markets

Joseph Stiglitz

677: Estimated Output, Price, Interest Rate, and Exchange Rate Linkages amongCountries

Ray Fair

676: Quantity and Elasticity Spillovers onto the Labor Market: Theory and Evidence on Sluggishness

Allan Drazen, Daniel Hamermesh and Norman P. Obst

675: Wage-Employment Contracts: Global Results

Jerry Green and Charles Kahn

674: Have Angels Done More? The Steel Industry Consent Decree

Casey Ichniowski

673: A Reexamination of Tax Distortions in General Equilibrium Models

Don Fullerton and Roger Gordon

672: A Competitive Theory of Monopoly Unionism

Edward Lazear

671: Training, Tenure, and Productivity

Frank Lichtenberg

670: Indexing and Inflation

Stanley Fischer

669: The Federal Attack on Labor Market Discrimination: The Mouse that Roared?

Charles Brown

668: Wives' Labor Force Participation, Wage Differentials and Family Income Inequality: The Israeli Experience

Reuben Gronau

667: Expected Interruptions in Labor Force Participation and Sex Related Differences in Earnings Growth

Yoram Weiss

666: Currency Baskets and Real Effective Exchange Rates

William Branson and Louka T. Katseli

665: Business Cycles and Growth: Some Reflections and Measures

Victor Zarnowitz

664: Profitability and Stability in International Currency Markets

John Bilson

663: Distributional Implications of Imperfect Capital Markets

Joon Koo Lee

662: Suit and Settlement vs. Trial: A Theoretical Analysis under Alternative Methods for the Allocation of Legal Costs

Steven Shavell

661: Taxation and Corporate Pension Policy

Irwin Tepper

660: Raw Materials, Profits, and the Productivity Slowdown (Rev)

Michael Bruno

659: The Effect of Social Security on Retirement in the Early 1970s

Michael Hurd and Michael J. Boskin

658: Real Exchange Rate Adjustment and the Welfare Effects of Oil Price Decontrol

Paul Krugman