NBER Working Papers

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575: Monetary and Fiscal Policies in an Open Economy

Jacob A. Frenkel and Michael Mussa

574: Symmetric Substitution Matrices in Asset Demand Systsems

David S. Jones

573: Consistent Simple Sum Aggregation over Assets

David S. Jones

572: Accumulation and Growth in a Two-Country Model: A Simulation Approach

David Lipton and Jeffrey Sachs

571: International Trade, Indebtedness, and Welfare Repercussions among Supply-Constrained Economies under Floating Exchange Rates

Bryce Hool and J. David Richardson

570: Wage and Employment Determinants under Trade Unionism: The InternationalTypographical Union

James N. Dertouzos and John Pencavel

569: The Collapse of Purchasing Power Parities during the 1970s

Jacob A. Frenkel

568: Private Pensions and Inflation

Martin Feldstein

567: Two Notes on Exchange Rate Rules and on the Real Value of External Debt

Rüdiger Dornbusch

566: Asset Prices, Substitution Effects, and the Impact of Changes in Asset Stocks

Carl Walsh

565: The Use of Volatility Measures in Assessing Market Efficiency

Robert Shiller

564: The Determinants of the Variability of Stock Market Prices

Sanford Grossman and Robert Shiller

563: Alternative Tests of Rational Expectations Models: The Case of the Term Structure

Robert Shiller

562: Reconsidering the Work Disincentive Effects of Social Security

Alan Blinder, Roger Gordon and Donald E. Wise

561: Patents and R and D at the Firm Level: A First Look

Ariel Pakes and Zvi Griliches

560: The Importance of Lifetime Jobs in the U.S. Economy

Robert Hall

559: Price Level Determinacy with an Interest Rate Policy Rule and Rational Expectations

Bennett McCallum

558: Tests of Equilibrium Macroeconomics Using Contemporaneous Monetary Data

John F. Boschen and Herschel Grossman

557: Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations

Maurice Obstfeld

556: Trade Adjustment Assistance under the U.S. Trade Act of 1974: An Analytical Examination and Worker Survey

J. David Richardson

555: Inflation Stabilization and Capital Mobility

Rüdiger Dornbusch

554: Oil and the Dollar

Paul Krugman

553: Inflation, Income Taxes, and Owner-Occupied Housing

James Poterba

552: Wages, Nonwage Job Characteristics, and Labor Mobility

Ann P. Bartel

551: The Variance and Acceleration of Inflation in the 1970s: Alternative Explanatory Models and Methods

Jon Frye and Robert Gordon

550: Government Intervention in the Inflation Process: The Econometrics of "Self-Inflicted Wounds"

Jon Frye and Robert Gordon

549: The Timing of Monetary and Price Changes and the International Transmission of Inflation

Anthony Cassese and James Lothian

548: Transfers, Taxes, and the NAIRU

Daniel Hamermesh

547: Inflation and the Tax Treatment of Firm Behavior

Alan Auerbach

546: Taxation, Portfolio Choice, and Debt-Equity Ratios: A General Equilibrium Model

Alan Auerbach and Mervyn A. King

545: Staggered Wage Setting without Money Illusion: Variations on a Theme of Taylor

Willem Buiter and Ian Jewitt

544: Gold Monetization and Gold Discipline

Robert Flood and Peter Garber

543: The Economics of Tenure Choice: 1955-79

Patric Hendershott and James D. Shilling

542: Expected Inflation and Equity Prices: A Structural Econometric Approach

David S. Jones

541: Three Papers on Brazilian Trade and Payments

Eliana Cardoso and Rüdiger Dornbusch

540: Intermediate Imports, the Terms of Trade, and the Dynamics of the Exchange Rate and Current Account

Maurice Obstfeld

539: Time Preference and Health: An Exploratory Study

Victor Fuchs

538: Estimated Effects of the October 1979 Change in Monetary Policy on the 1980 Economy

Ray Fair

537: Exchange-Rate Expectations and Nominal Interest Differentials: A Test ofthe Fisher Hypothesis

Robert Cumby and Maurice Obstfeld

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