NBER Working Papers

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536: Further Evidence on the Value of Professional Investment Research

Kenneth L. Stanley, Wilbur G. Lewehlen and Gary G. Schlarbau

535: Some Aspects of the Canadian Experience with Flexible Exchange Rates in the 1970s

Charles Freedman and David Longworth

534: Incomplete Information, Risk Shifting, and Employment Fluctuations

Herschel Grossman

533: The Tax Advantages of Pension Fund Investments in Bonds

Fischer Black

532: Microeconomic Aspects of Productivity Growth under Import Substitution: Turkey

Anne O. Krueger and Baran Tuncer

531: Policy Decentralization and Exchange Rate Management in Interdependent Economies

Willem Buiter and Jonathan Eaton

530: Does the Investment Interest Limitation Explain the Existence of Dividends?

Daniel Feenberg

529: The Historical Evolution of Female Earnings Functions and Occupations

Claudia Goldin

528: The Capitalization of Income Streams and the Effects of Open Market Policy under Fixed Exchange Rates

Maurice Obstfeld

527: The Optimal Weighting of Indicators for a Crawling Peg

William Branson and Jorge Braga de Macedo

526: Inflation, Portfolio Choice, and the Price of Land and Corporate Stock

Martin Feldstein

525: The Relation of Stock Prices to Corporate Earnings Adjusted for Inflation

Phillip Cagan

524: The Role of Money Supply Shocks in the Short-Run Demand for Money

Jack Carr and Michael Darby

523: Aggregate Land Rents and Aggregate Transport Costs

Richard Arnott and Joseph Stiglitz

522: Import Competition and Macro Economic Adjustment under Wage-Price Rigidity

Michael Bruno

521: Prices and Market Shares in the International Machinery Trade

Irving B. Kravis, Robert Lipsey and Dennis M. Bushe

520: Transition Losses of Partially Mobile Industry-Specific Capital

Don Fullerton

519: Labor Market Competition among Youths, White Women, and Others

James H. Grant and Daniel Hamermesh

518: Anticipated Inflation, the Frequency of Transactions, and the Slope of the Phillips Curve

Zvi Hercowitz

517: Monetary Policy and Long-Term Interest Rates: An Efficient Markets Approach

Frederic Mishkin

516: Implications for the Adjustment Process of International Asset Risks: Exchange Controls, Intervention and Policy Risk, and Sovereign Risk

Willem Buiter

515: Inventories and the Structure of Macro Models

Alan Blinder

514: Demographic Differences in Cyclical Employment Variation

Kim B. Clark and Lawrence Summers

513: Market Wages, Reservation Wages, and Retirement Decisions

Roger Gordon and Alan Blinder

512: Analyzing the Relation of Unemployment Insurance to Unemployment

Alan Gustman

511: A Model of Firms' Decisions to Export or Produce Abroad

J. Weinblatt and Robert Lipsey

510: Distributions of Family Hospital and Physician Expenses

Bernard Friedman

509: Pension Funding, Share Prices, and National Saving

Martin Feldstein and Stephanie Seligman

508: State and Local Taxes and the Rate of Return on Nonfinancial Corporate Capital (revised as W0740)

Martin Feldstein and James Poterba

507: Are Market Forecasts Rational?

Frederic Mishkin

506: Does Anticipated Monetary Policy Matter? An Econometric Investigation

Frederic Mishkin

505: The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households

Robert Hall and Frederic Mishkin

504: Taxes, Saving, and Welfare: Theory and Evidence

Charles E. McLure, Jr.

503: Modeling Price Rigidity or Predicting the Quality of the Good that Clears the Market

Dennis Carlton

502: Irreversibility, Uncertainty, and Cyclical Investment

Ben Bernanke

501: Adjustment to Variations in Imported Input Prices: The Role of Economic Structure

Louka T. Katseli and Nancy Marion

500: The Transmission of Disturbances under Alternative Exchange-Rate Regimeswith Optimal Indexing

Robert Flood and Nancy Marion

499: On the Almost Neutrality of Inflation: Notes on Taxation and the Welfare Costs of Inflation

Joseph Stiglitz

498: Monetary Information and Macroeconomic Fluctuations

John F. Boschen and Herschel Grossman

497: Alternative Tax Treatments of the Family: Simulation Methodology and Results

Daniel Feenberg and Harvey Rosen

496: Taxation and the Ex-Dividend Day Behavior of Common Stock Prices

Jerry Green

495: Will the Real Excess Burden Please Stand Up? (Or, Seven Measures in Search of a Concept)

Alan Auerbach and Harvey Rosen

494: Sterilization and Offsetting Capital Movements: Evidence from West Germany, 1960-1970

Maurice Obstfeld

493: Exchange Rate Risk and the Macroeconomics of Exchange Rate Determination

Rüdiger Dornbusch

492: Exchange-Rate Unions and the Volatility of the Dollar

Richard C. Marston

491: Components of Manufacturing Inventories

Alan Auerbach and Jerry Green

490: Intertemporal Substitution and the Business Cycle

Robert Barro

489: Martingale-Like Behavior of Prices

Christopher Sims

488: The Level and Distribution of Economic Well-Being

Alan Blinder

487: Income Tax Incentives to Promote Saving

Charles Becker and Don Fullerton

486: Economic Growth and the Rise of Service Employment

Victor Fuchs

485: Imperfect Asset Substitutability and Monetary Policy under Fixed Exchange Rates

Maurice Obstfeld

484: Fixed Costs and Labor Supply

John F. Cogaj

483: A Note on the Efficient Design of Investment Incentives

Alan Auerbach

482: The Location of Overseas Production and Production for Export by U.S. Multinational Firms

Irving B. Kravis and Robert Lipsey

481: An Implicit Clientele Test of the Relationship between Taxation and Capital Structure

Paul Grier and Paul Strebel

480: Economic Consequences of Unfunded Vested Pension Benefits

Mark Gersovitz

479: Interrupted Work Careers

Jacob Mincer and Haim Ofek

478: Labor Markets and Evaluations of Vocational Training Programs in the Public High Schools - Toward a Framework for Analysis

Alan Gustman and Thomas L. Steinmeier

477: Social Security Benefits and the Accumulation of Preretirement Wealth

Martin Feldstein

476: Efficiency of Foreign Exchange Markets and Measures of Turbulence

Jacob A. Frenkel and Michael Mussa

475: Interactions Between Inflation and Trade-Regime Objectives in Stabilization Programs

Anne O. Krueger

474: The "Speculative Efficiency" Hypothesis

John Bilson

473: Exchange Rate Rules and Macroeconomic Stability

Rüdiger Dornbusch

472: Monetary Stabilization, Intervention and Real Appreciation

Rüdiger Dornbusch

471: Expectations and the Valuation of Shares

Burton G. Malkiel and John G. Cragg

470: Accelerating Inflation and the Distribution of Household Savings Incentives

Edward Kane

469: Trends in U.S. International Trade and Investment since World War II

William Branson

468: An Index of Inequality: With Applications to Horizontal Equity and Social Mobility

Mervyn A. King

467: On the Possibility of an Inverse Relationship between Tax Rates and Government Revenues

Don Fullerton

466: Trade Policy as an Input to Development

Anne O. Krueger

465: How Effective Have Fiscal Policies Been in Changing the Distribution of Income and Wealth?

Mervyn A. King

464: Monetary Accommodation of Supply Shocks under Rational Expectations

Alan Blinder

463: Resolving Nuisance Disputes: The Simple Economics of Injunctive and Damage Remedies

A. Mitchell Polinsky

462: The Mark III International Transmission Model

Michael Darby and Alan Stockman

461: Protectionist Pressures, Imports, and Employment in the United States

Anne O. Krueger

460: Inventories in the Keynesian Macro Model

Alan Blinder

459: Postwar Macroeconomics: The Evolution of Events and Ideas

Robert Gordon

458: Postwar Changes in the American Financial Markets

Benjamin M. Friedman

457: Tax Neutrality and the Social Discount Rate: A Suggested Framework

Alan Auerbach

456: Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?

Robert Shiller

455: A Consistent Characterization of a Near-Century of Price Behavior

Robert Gordon

454: An Exploration of the Dynamic Relationship between Health and Cognitive Development in Adolescence

Robert A. Shakotko, Linda N. Edwards and Michael Grossman

453: Disequilibrium Dynamics with Inventories and Anticipatory Price-Setting:Some Impirical Results

Jerry Green and Jean-Jacques Laffont

452: Exchange Rates, Prices and Money: Lessons from the 1920s

Jacob A. Frenkel

451: Dynamic Aspects of of Children's Health, Intellectual Development, and Family Economic Status

Robert A. Shakotko

450: Flexible Exchange Rates in the 1970's

Jacob A. Frenkel

449: Sterilization and Monetary Control under Pegged Exchange Rates: Theory and Evidence

Michael Darby

448: The Distribution of the U.S. Capital Stock Between Residential and Industrial Uses

Martin Feldstein

447: Mortgage Revenue Bonds: Tax Exemption with a Vengeance

Patric Hendershott

446: The Evolution of the American Labor Market 1948-1980

Richard Freeman

445: The Role of Intergenerational Transfers in Aggregate Capital Accumulation

Laurence Kotlikoff and Lawrence Summers

444: On Estimating the Expected Return on the Market: An Exploratory Investigation

Robert Merton

443: Federal Deficit Policy and the Effects of Public Debt Shocks

Robert Barro

442: Purchasing-Power Annuities: Financial Innovation for Stable Real Retirement Income in an Inflationary Environment

Zvi Bodie

441: Effect of Minimum Wages on Human Capital Formation

Jacob Mincer and Linda S. Leighton

440: Wage Expectations in the Labor Market: Survey Evidence on Rationality

Jonathan Leonard

439: Expectations and the Forward Exchange Rate

Craig Hakkio

438: An Exploration into the Determinants of Research Intensity

Ariel Pakes and Mark Schankerman

437: The International Economy as a Source of and Restraint on United States Inflation

Michael Darby