NBER Working Papers

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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

436: The Taxation of Exhaustible Resources

Partha Dasgupta, Geoffrey Heal and Joseph E. Stiflitx

435: Government Deficits and Aggregate Demand

Martin Feldstein

434: R&D and the Productivity Slowdown

Zvi Griliches

433: Money and Price Dispersion in the United States

Zvi Hercowitz

432: Output Effects of Government Purchases

Robert Barro

431: Money and the Dispersion of Relative Prices

Zvi Hercowitz

430: Comparison of Interwar and Postwar Business Cycles: Monetarism Reconsidered

Christopher Sims

429: Exchange Rates, Money and Relative Prices: The Dollar-Pound in the 1920's

Kenneth Clements and Jacob A. Frenkel

428: Savings and Taxation

Mervyn A. King

427: The "End-of-Expansion" Phenomenon in Short-run Productivity Behavior

Robert Gordon

426: The Term Structure of the Forward Premium

Craig Hakkio

425: Planning and Market Structure

Dennis Carlton

424: Risk Shifting, Unemployment Insurance, and Layoffs

Herschel Grossman

423: Sectoral Productivity Slowdown

M. Ishaq Nadiri

422: Tax Rules and the Mismanagement of Monetary Policy

Martin Feldstean

421: An Empirical Model of Labor Supply in a Life Cycle Setting

Thomas E. MaCurdy

420: Strict Liability versus Negligence in a Market Setting

A. Mitchell Polinsky

419: Public Policy Toward Life Saving: Maximize Lives Saved vs. Consumer Sovereignty

William Gould and Richard Thaler

418: Monetary Policy and the 1979 Supply Shock

Robert Gordon

417: Preventive Care, Care for Children and National Health Insurance

Gilbert R. Ghez and Michael Grossman

416: An Economic Analysis of the Diet, Growth, and Health of Young Children in the United States

Dov Chernichovsky and Douglas Coate

415: The Impact of the Market and the Family on Youth Employment and Labor Supply

Alan Gustman and Thomas L. Steinmeier

414: A Multicountry Econometric Model (Revised)

Ray Fair

413: Why Do Companies Pay Dividends?

Martin Feldstein and Jerry Green

412: The Roles of Monetary, Financial and Fiscal Policy with Rational Expectations

Willem Buiter

411: What is Labor Supply and Do Taxes Affect It?

Harvey Rosen

410: On Forecasting Interest Rates: An Efficient Markets Perspective

James Pesando

409: Taxation and the Stock Market Valuation of Capital Gains and Dividends: Theory and Empirical Results (Rev)

Roger Gordon and David Bradford

408: Energy Efficiency, User Cost Changes, and the Measurement of Durable Goods Prices

Robert Gordon

407: Dynamic Adjustment and the Demand for International Reserves

John Bilson and Jacob A. Frenkel

406: International Adjustment with Wage Rigidity

William Branson and Julio Rotemberg

405: Inequality Within and Between Families

Eytan Sheshinski and Yoram Weiss

404: The Investment Tax Credit: An Evaluation

Alan Auerbach and Lawrence Summers

403: Inflation, Tax Rules, and the Stock Market

Martin Feldstein

402: Analysis of Pension Funding Under Erisa

Jeremy I. Bulow

401: Rank-Order Tournaments as Optimum Labor Contracts

Edward Lazear and Sherwin Rosen

400: The Effect of Unionism on Worker Attachment to Firms

Richard Freeman

399: Teenage Unemployment: Permanent Scars or Temporary Blemishes?

David T. Ellwood

398: Adolescent Health, Family Background, and Preventive Medical Care

Linda N. Edwards and Michael Grossman

397: The Duration of Youth Unemployment in West Germany: Some Theoretical Considerations

Wolfgang Franz

396: Family Effects in Youth Employment

Albert E. Rees and Wayne Gray

395: Adjusting Depreciation in an Inflationary Economy: Indexing versus Acceleration

Martin Feldstein

394: Specific Information, General Information, and Employment Matches Under Uncertainty

W Viscusi

393: Teenage Unemployment: What is the Problem?

Martin Feldstein and David T. Ellwood

392: The Social Security Disability Program and Labor Force Participation

Jonathan Leonard

391: Cross Country Effects of Sterilization, Reserve Currencies and Foreign Exchange Information

Richard C. Marston

390: A Model of Trade and Exchange Rate Projections: Equations and Parameters

Hannu Halttunen and Dennis Warner

389: A Model of Trade and Exchange Rate Projections

Hannu Halttunen and Dennis Warner

388: Notes on Optimal Wage Taxation and Uncertainty

Jonathan Eaton and Harvey Rosen

387: The Estimation of Labor Supply Over Kinked Budget Constraints: Some New Econometric Methodology

Anthony J. Pellechio

386: The Role of Prevailing Prices and Wages in the Efficient Organization of Markets

Robert Hall

385: Labor Supply and Aggregate Fluctuations

Robert Hall

384: Time Series Changes in Youth Joblessness

Michael L. Wachter and Choongsoo Kim

383: Inflation and the Benefits from Owner-Occupied Housing

Patric Hendershott and Sheng Cheng Hu

382: Supply vs. Demand Approaches to the Problem of Stagflation

Michael Bruno and Jeffrey Sachs

381: Inventories, Rational Expectations, and the Business Cycle

Alan Blinder and Stanley Fischer

380: The Canadian Dollar, 1971-76: An Exploratory Investigation of Short Run Movements

Charles Freedman

379: A Strategic Theory of Inflation

Mordecai Kurz

378: Labor Turnover and Youth Unemployment

Linda S. Leighton and Jacob Mincer

377: Exchange Rates and Portfolio Balance

John Martin and Paul Masson

376: Towards A Reconstruction of Keynesian Economics: Expectations and Constrained Equilibria

J. Peter Neary and Joseph Stiglitz

375: The Work and Wages of Single Women: 1870 to 1920

Claudia Goldin

374: Colonial and Revolutionary Muster Rolls: Some New Evidence on Nutrition and Migration in Early America

Kenneth Sokoloff and Georgia C. Villaflor

373: Inflation Risk and Capital Market Equilibrium

Zvi Bodie

372: The Old Age Security Hypothesis and Population Growth

Robert Willis

371: Sorting Models of Labor Mobility, Turnover, and Unemployment

W Viscusi

370: The Decline in Aggregate Share Values: Inflation, Taxation, Risk and Profitability

Patric Hendershott

369: Energy Prices, Inflation, and Recession, 1974-1975

Knut Anton Mork and Robert Hall

368: Optimal Tax Treatment of the Family: Married Couples

Michael J. Boskin and Eytan Sheshinski

367: Fixed and Flexible Rates: A Renewal of The Debate

Jacques R. Artus and John H. Young

366: The Determination of Long-Term Interest Rates: Implications for Monetary and Fiscal Policies

Benjamin M. Friedman

365: Why is There A Youth Labor Market Problem?

Richard Freeman

364: The Two Faces of Unionism

Richard Freeman and James Medoff

363: Can Productive Capacity Differentials Really Explain Earnings Differentials Associated with Demographic Characteristics? Case of Experience

James Medoff and Katharine Abraham

362: The Family as an Incomplete Annuities Market

Laurence Kotlikoff and Avia Spivak

361: New Evidence That Fully Anticipated Monetary Changes Influence Real Output After All

Robert Gordon

360: Contributions and Determinants of Research and Development Expenditures in the U.S. Manufacturing Industries

M. Ishaq Nadiri

359: Price Expectations, Foreign Exchange and Interest Rates, and Demand for Money in an Open Economy

Sebastian Arango and M. Ishaq Nadiri

358: The Structure of Production, Technological Change, and the Rate of Growth of Total Factor Productivity in the Bell System

M. Ishaq Nadiri and Mark Schankerman