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New This Week Archive

NBER Working Papers released in the past, by week.

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Week of December 20, 2004

Latest NBER Working Papers

• Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change
  George-Marios Angeletos, Christian Hellwig, and Alessandro Pavan #11017 (EFG)
  
• Incomplete Market Dynamics in a Neoclassical Production Economy
  George-Marios Angeletos and Laurent-Emmanuel Calvet #11016 (EFG)
  
• Crises and Prices: Information, Aggregation, Multiplicity and Volatility
  George-Marios Angeletos and Ivan Werning #11015 (EFG)
  
• A Protectionist Bias in Majoritarian Politics
  Gene M. Grossman and Elhanan Helpman #11014 (ITI)
  
• Forging a New Identity: The Costs and Benefits of Diversity in Civil War Combat Units for Black Slaves and Freemen
  Dora L. Costa and Matthew E. Kahn #11013 (DAE)
  
• The Macroeconomics of Subsistence Points
  Morten O. Ravn, Stephanie Schmitt-Grohe, and Martin Uribe #11012 (EFG)
  
• PIPE Dreams? The Performance of Companies Issuing Equity Privately
  David J. Brophy, Paige P. Ouimet, and Clemens Sialm #11011 (CF, AP)
  
• Labor Income Dynamics at Business-Cycle Frequencies: Implications for Portfolio Choice
  Anthony W. Lynch and Sinan Tan #11010 (EFG, AP)
  
• Externalities and Growth
  Peter J. Klenow and Andres Rodriguez-Clare #11009 (EFG)
  
• Latin America in the Rearview Mirror
  Harold L. Cole, Lee E. Ohanian, Alvaro Riascos, and James A. Schmitz, Jr. #11008 (EFG)
  
• Macroeconomic Conditions, Health and Mortality
  Christopher J. Ruhm #11007 (HE)
  

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Week of December 13, 2004

Latest NBER Working Papers

• Bank Mergers and Crime: The Real and Social Effects of Credit Market Competition
  Mark J. Garmaise and Tobias J. Moskowitz #11006 (ME, AP, PE)
  
• Cultural Biases in Economic Exchange
  Luigi Guiso, Paola Sapienza, and Luigi Zingales #11005 (CF, ITI)
  
• Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation
  Efraim Benmelech, Mark J. Garmaise, and Tobias Moskowitz #11004 (AP)
  
• An Assignment Theory of Foreign Direct Investment
  Volker Nocke and Stephen Yeaple #11003 (ITI)
  
• Executive Financial Incentives and Payout Policy: Firm Responses the 2003 Dividend Tax Cut
  Jeffrey R. Brown, Nellie Liang, and Scott Weisbenner #11002 (PE, CF)
  
• Does Competition Reduce Costs? Assessing the Impact of Regulatory Restructuring ion U.S. Electric Generation Efficiency
  Kira Markiewicz, Nancy L. Rose, and Catherine Wolfram #11001 (IO, PR)
  
• Dynamic Sorting: A Back-of-the-Envelope Guide
  N. Gregory Mankiw and Matthew Weinzierl #11000 (EFG)
  
• Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
  Philippe Aghion and Jeremy C. Stein #10999 (CF, EFG)
  
• Corporate Financing Decisions When Investors Take the Path of Least Resistance
  Malcolm Baker, Joshua Coval, and Jeremy C. Stein #10998 (CF)
  
• Vertical Integration and Technology: Theory and Evidence
  Daron Acemoglu, Philippe Aghion, Rachel Griffith, and Fabrizio Zilibotti #10997 (CF, EFG, IO)
  
• Parametric Portfolio Policies: Exploiting Characteristics n the Cross Section of Equity Returns
  Michael W. Brandt, Pedro Santa-Clara, and Rossen Valkanov #10996 (AP)
  
• Taylor Rules and the Deutschmark-Dollar Real Exchange Rate
  Charles Engel and Kenneth D. West #10995 (IFM, ME)
  
• Explaining the Magnitude of Liquidity Premia: The Roles of Return Predictability, Wealth Shocks and State-dependent Transaction Costs
  Anthony W. Lynch and Sinan Tan #10994 (AP)
  
• Fluctuations in a Dreadful Childhood: Synthetic Longitudinal Height Data, Relative Prices and Weather in the Short-Term Health of American Slaves
  Richard H. Steckel #10993 (DAE)
  
• China's New Regional Trade Agreements
  Agata Antkiewicz and John Whalley #10992 (ITI)
  
• The Gift of the Dying: The Tragedy of AIDS and the Welfare of Future African Generations
  Alwyn Young #10991 (EFG, HE)
  
• Global Growth Opportunities and Market Integration
  Geert Bekaert, Campbell R. Harvey, Christian Lundblad and Stephan Siegel #10990 (AP)
  
• The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market
  Jeffrey R. Brown and Amy Finkelstein #10989 (AG, HE, PE)
  
• Happy News from the Dismal Science: Reassessing Japanese Fiscal Policy and Sustainability
  Christian Broda and David E. Weinstein #10988 (AG, ITI, PE)
  
• Enforcement, Private Political Pressure and the GATT/WTO Escape Clause
  Kyle Bagwell and Robert W. Staiger #10987 (ITI)
  
• Large Devaluations and the Real Exchange Rate
  Ariel Burstein, Martin Eichenbaum, and Sergio Rebelo #10986 (EFG, IFM)
  
• Globalization and the Returns to Speaking English in South Africa
  James Levinsohn #10985 (ITI)
  
• The Determinants of Progressive Era Reform: The Pure Food and Drugs Act of 1906
  Marc T. Law and Gary D. Libecap #10984 (DAE)
  

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Week of December 6, 2004

Latest NBER Working Papers

• Finance, Firm Size, and Growth
  Thorsten Beck, Asli Demirguc-Kunt, Luc Laeven, and Ross Levine #10983 (IFM)
  
• How do Banks Manage Liquidity Risk? Evidence from Equity and Deposit Markets in the Fall of 1998
  Philip E. Strahan, Evan Gatev, and Til Schuerman #10982 (CF)
  
• Some New Variance Bounds for Asset Prices
  Charles Engel #10981 (AP)
  
• Why Should We Care About Child Labor? The Education, Labor Market, and Health Consequences of Child Labor
  Kathleen Beegle, Rajeev Dehejia, and Roberta Gatti #10980 (LS)
  
• Finance, Inequality, and Poverty: Cross-Country Evidence
  Thorsten Beck, Asli Demirguc-Kunt, and Ross Levine #10979 (CF)
  
• Theft and Taxes
  Mihir A. Desai, Alexander Dyck, and Luigi Zingales #10978 (CF, PE)
  
• Tax Policy for Health Insurance
  Jonathan Gruber #10977 (HE, PE)
  
• The Economic Theory of Illegal Goods: The Case of Drugs
  Gary S. Becker, Kevin M. Murphy, and Michael Grossman #10976 (HE, PE)
  
• Semiparametric Causality Tests Using the Policy Propensity Score
  Joshua D. Angrist and Guido M. Kuersteiner #10975 ME)
  
• Tobacco Spending and its Crowd-Out of Other Goods
  Susan H. Busch, Mireia Jofre-Bonet, Tracy A. Falba, and Jody L. Sindelar #10974 (HE)
  
• Has Monetary Policy Become More Efficient? A Cross Country Analysis
  Stephen G. Cecchetti, Alfonso Flores-Lagunes, and Stefan Krause #10973 (ME)
  
• Manufacturer Liability of Harms Caused by Consumers to Others
  Bruce Hay and Kathryn E. Spier #10972 (LE)
  
• Incentives to Learn
  Michael Kremer, Edward Miguel, and ebecca Thornton #10971 (EFG, ED, CH)
  
• Consumption Commitments: Neoclassical Foundations for Habit Formation
  Raj Chetty and Adam Szeidl #10970 (EFG, PE)
  
• Who Wins and Who Loses? Public Transfer Accounts for US Generations Born 1850-2090
  Antoine Bommier, Ronald Lee, Timothy Miller, and Stephane Zuber #10969 (AG, PE)
  
• The Integration of Child Tax Credits and Welfare: Evidence from the National Child Benefit Program
  Kevin Milligan and Mark Stabile #10968 (PE, CH)
  
• Aging and the Welfare State: The Role of Young and Old Voting Pivots
  Assaf Razin and Efraim Sadka #10967 (AG, PE)
  
• Institutions and Technological Innovation During the Early Economic Growth: Evidence from the Great Inventors of the United States, 1790-1930
  B. Zorina Khan and Kenneth L. Sokoloff #10966 (DAE, PR)
  
• Digging the Dirt at Public Expense: Governance in the Building of the Erie Canal and Other Public Works
  Stanley L. Engerman and Kenneth L. Sokoloff #10965 (DAE)
  
• Prescription Drugs, Medical Care, and Health Outcomes: A Model of Elderly Health
  Zhou Yang, Donna B. Gilleskie, and Edward C. Norton #10964 (AG, HE)
  
• Bounds in Competing Risks Models and the War on Cancer
  Bo E. Honoré and Adriana Lleras-Muney #10963 (HE)
  
• Incompatibility, Product Attributes and Consumer Welfare: Evidence from ATMs
  Christopher R. Knittel and Victor Stango #10962 (PR)
  
• Covered Interest Arbitrage: Then vs. Now
  Ted Juhl, William Miles and Marc D. Weidenmeier #10961 (DAE, IFM)
  
• Gunboats, Reputation, and Sovereign Repayment: Lessons from the Southern Confederacy
  Marc D. Weidenmeier #10960 (DAE)
  

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Week of November 29, 2004

Latest NBER Working Papers

• Sorting it Out: International Trade and Protection With Heterogeneous Workers
  Franziska Ohnsorge and Daniel Trefler #10959 (ITI)
  
• Using Tontines to Finance Public Goods: Back to the Future?
  Andreas Lange, John A. List, and Michael K. Price #10958 (PE)
  
• Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, Or Less? Using Gravity to Establish Causality
  Jeffrey A. Frankel and Eduardo A. Cavallo #10957 (IFM, ITI)
  
• The Economics of Technology Sharing: Open Source and Beyond
  Josh Lerner and Jean Tirole #10956 (IO, LS, PR)
  
• A Theory of Housing Collateral, Consumption Insurance and Risk Premia
  Hanno Lustig and Stijn Van Nieuwerburgh #10955 (AP)
  
• Globalization and Disinflation: A Note
  Assaf Razin #10954 (IFM)
  
• Has the Unified Budget Undermined the Federal Government Trust Funds?
  Sita Nataraj and John B. Shoven #10953 (EFG, AG, PE)
  
• The Concept of Systematic Corruption in American Political and Economic History
  John Joseph Wallis #10952 (DAE)
  
• Resolving the Puzzle of the Underissuance of National Bank Notes
  Charles W. Calomiris and Joseph R. Mason #10951 (DAE)
  
• Retrospective on the 1970s Productivity Slowdown
  William Nordhaus #10950 (EFG, PR)
  
• An Investigation of the Effects of Alcohol Policies on Youth STDs
  Michael Grossman, Robert Kaestner, and Sara Markowitz #10949 (HE, CH)
  
• Individual Behaviors and Substance Use: The Role of Price
  Michael Grossman #10948 (HE, CH)
  
• Using Hit Rate Tests to Test for Racial Bias in Law Enforcement: Vehicle Searches in Wichita
  Nicola Persico and Petra Todd #10947 (LS, LE)
  
• Measuring Disparate Impacts and Extending Disparate Impact Doctrine to Organ Transplantation
  Robert Bornholz and James J. Heckman #10946 (HE, LE)
  
• Demographic Changes and International Factor Mobility
  John F. Helliwell #10945 (IFM, ITI)
  
• How to Eliminate Pyramidal Business Groups The Double Taxation of Inter-Corporate Diviends and Other Incisive Uses of Tax Policy
  Randall Morck #10944 (CF)
  
• Information and Externalities in Sequential Litigation
  Xinyu Hua and Kathryn E. Spier #10943 (LE)
  
• Financial Globalization, Growth and Volatility in Developing Countries
  Eswar S. Prasad, Kenneth S. Rogoff, Shang-Jin Wei, and M. Ayhan Kose #10942 (IFM)
  
• When I Peril, Retrench: Testing the Portfolio Channel of Contagion
  Fernando A. Broner, R. Gaston Gelos, and Carmen Reinhart #10941 (IFM)
  
• Quantitative Implications of A Debt-Deflation Theory of Sudden Stops and Asset Prices
  Enrique G. Mendoza and Katherine A. Smith #10940 (IFM)
  
• FDI in Space: Spatial Autoregressive Relationship in Foreign Direct Investment
  Bruce A. Blonigen, Ronald B. Davies, Glen R. Waddell, and Helen T. Naughton #10939 (ITI)
  

  Chapters for Forthcoming NBER Books

  "The Global History of Corporate Governance - An Introduction"
  Randall Morck and Lloyd Steier

  Introduction to "Tax Policy and the Economy"
  Volume 19, edited by James M. Poterba
  "Tax Policy for Health Insurance"
  Jonathan Gruber
  "The Structure of Early Care and Education in the United States: Historical Evolution and International Comparisons"
  Ann Dryden Witte and Marisol Trowbridge
  "Do Tax Havens Flourish?"
  James R. Hines Jr.
  "Book-Tax Conformity for Corporate Income: An Introduction to the Issues"
  Michelle Hanlon and Terry Shevlin
  "Risk and the Evolution of Inequality in China in and Era of Globalization"
  Ethan Ligon
  Comments by Chang-Tai Hsieh and Esther Duflo

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Week of November 22, 2004

Latest NBER Working Papers

• Lost Decade in Translation: Did the US Learn from Japan's Post-Bubble Mistakes?
  James Harrigan and Kenneth Kuttner #10938 (ME)
  
• Patterns of Comovement: The Role of Information Technology in the U.S. Economy
  Hyunbae Chun, Jung-Wook Kim, Jason Lee, and Randall Morck #10937 (CF, PR)
  
• Do Tax Havens Flourish?
  James R. Hines #10936 (IFM, PE)
  
• Evaluation of Four Tax Reforms in the United States: Labor Supply and Welfare Effects for Single Mothers
  Nada Eissa, Henrik Jacobsen Kleven, and Claus Thustrup Kreiner #10935 (LS, PE)
  
• A Simulation Approach to Dynamic Portfolio Choice with an Application to Learning About Return Predictability
  Michael W. Brandt, Amit Goyal, Pedro Santa-Clara, and Jonathan Stroud #10934 (AP)
  
• Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms
  Ilan Guedj and David Scharfstein #10933 (CF, PR)
  

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Week of November 15, 2004

Latest NBER Working Papers

• Speeding, Tax Fraud, and Teaching to the Test
  Edward P. Lazear #10932 (ED)
  
• The Structure of Early Care and Education in the United States: Historical Evolution and International Comparisons
  Ann Dryden Witte and Marisol Trowbridge #10931 (ED, CH)
  
• The Distortionary Effects of Government Procurement: Evidence from Medicaid Prescription Drug Purchasing
  Mark Duggan and Fiona Soctt Morton #10930 (HE, IO)
  
• Regulation of Entry and the Distortion of Industrial Organization
  Raymond Fisman and Virginia Sarria-Allende #10929 (EFG)
  
• Political Contribution Caps and Lobby Formation: Theory and Evidence
  Allan Drazen, Nuno Lamao, and Thomas Stratman #10928 (EFG)
  
• Can Public Discussion Enhance Program Ownership?
  Allan Drazen and Peter Isard #10927 (EFG)
  
• The Cost of Business Cycles and the Benefits of Stabilization: A Survey
  Gadi Barlevy #10926 (EFG)
  
• The Information of Option Volume for Future Stock Prices
  Jun Pan and Allen Poteshman #10925 (AP)
  
• Monetary Policy and Regional Interest Rates in the United States, 1880-2002
  John Landon-Lane and Hugh Rockoff #10924 (DAE, ME)
  
• Financing Invention During the Second Industrial Revolution: Cleveland, Ohio, 1870-1920
  Naomi R. Lamoreaux, Margaret Levenstein, and Kenneth L. Sokoloff #10923 (PR, CH)
  
• Diverging Trends in Macro and Micro Volatility: Facts #10922 (EFG)
  Diego Comin and Sunil Mulani
  
• The Steady-State Growth Theorem: A Comment on Uzawa (1961)
  Charles I Jones and Dean Scrimgeour #10921 (EFG)
  
• Partnership Status and the Human Sex Ratio at Birth
  Karen Norberg #10920 (CH)
  
• The Effect of Improvements in Health and Longevity on Optimal Retirement and Saving
  David E. Bloom, David Canning, and Michael Moore #10919 (AG, HE, LS)
  
• Why Are Power Couples Increasingly Concentrated in Large Metropolitan Areas?
  Janice Compton and Robert A. Pollak #10918 (LS)
  
• Stochastic Infinite Horizon Forecasts for Social Security and Related Studies
  Ronald Lee, Timothy Miller, and Michael Anderson #10917 (AG, PE)
  
• Model Uncertainty and Policy Evaluation: Some Theory and Empirics
  William A. Brock, Steven N. Durlauf, and Kenneth D. West #10916 (EFG, ME)
  
• Fair Pricing
  Julio J. Rotemberg #10915 (EFG, IO)
  
• Predicting Volatility: Getting the Most out of Return Data Sampled at Different Frequencies
  Eric Ghysels, Pedro Santa-Clara, and Rossen Valkanov #10914 (AP)
  
• There is a Risk-Return Tradeoff After All
  Eric Ghysels, Pedro Santa-Clara, and Rossen Valkanov #10913 (AP)
  
• Jump and Volatility Risk and Risk Premia: A New Model and Lessons from S&P 500 Options
  Pedro Santa-Clara and Shu Yan #10912 (AP)
  
• Fast Times at Ridgemont High? The Effect of Compulsory Schooling Laws on Teenage Births
  Sandra E. Black, Paul J. Devereaux, and Kjell Salvanes #10911 (ED, CH)
  
• The Product Cycle and Inequality
  Boyan Jovanovic #10910 (EFG, PR)
  
• Land Prices and Business Fixed Investment in Japan
  Nobuhiro Kiyotaki and Kenneth D. West #10909 (EFG)
  
• Deposit Insurance and External Finance
  Stephen G. Cecchetti and Stefan Krause #10908 (CF, ME, AP)
  

  Chapters for Forthcoming NBER Books

  "The Global History of Corporate Governance - An Introduction"
  Randall Morck and Lloyd Steier
  "Fiscal Remedies for Japan's Slump"
  Laurence Ball
  Comment by Daniel Wolfenzon on "The History of Corporate Ownership in Italy"
  Alexander Aganin and Paolo Volpin
  Comment by Alexander Dyck on "The History of Corporate Ownership and Control in Germany"
  Caroline Fohlin
  "The Effects of the Colombian Trade Liberalization on Urban Poverty"
  Nina Pinelopi Goldberg and Nina Pavcnik
  "Globalization, Labor Income and Poverty in Mexico"
  Gordon H. Hanson
  "Trade Liberalization, Poverty and Inequality: Evidence from Indian Districts"
  Petia Topalova
  "Globalization, Poverty, and All That: Factor Endowment versus Productivity Views"
  William Easterly

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Week of November 8, 2004

Latest NBER Working Papers

• Managing Macroeconomic Crises
  Jeffrey A. Frankel and Shang-Jin Wei #10907 (IFM)
  
• Vertical Equity Consequences of Very High Cigarette Tax Increases: If the Poor are the Ones Smoking, How Could Cigarette Tax Increases be Progressive?
  Greg Colman and Dahlia K. Remler #10906 (HE, P)
  
• The Social Security Retirement Earnings Test, Retirement and Benefit Claiming
  Alan L. Gustman and Thomas L. Steinmeier #10905 (A, LS, PE)
  
• The Economic Value of Cultural Diversity: Evidence from US Cities
  Gianmarco I.P. Ottaviano and Giovanni Peri #10904 (ITI)
  
• Hiccups for HIPCs?
  Craig Burnside and Domenico Fanizza #10903 (EFG, IFM)
  

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Week of November 1, 2004

Latest NBER Working Papers

• Optimal Inference in Regression Models with Nearly Integrated Regressors
  Michael Jansson and Marcelo J. Moreira #T303 (TWP)
  
• Bootstrap and Higher-Order Expansion Validity When Instruments May Be Weak
  Marcelo J. Moreira, Jack R. Porter, and Gustavo A. Suarez #T302 (TWP)
  
• Race and Older Age Mortality: Evidence from Union Army Veterans
  Dora L. Costa #10902 (A, HE, DAE)
  
• Uncovering GPTS with Patent Data
  Bronwyn H. Hall and Manuel Trajtenberg #10901 (P)
  
• Corporate Governance and the Plight of Minority Shareholders in the United States Before the Great Depression
  Naomi R. Lamoreaux and Jean-Laurent Rosenthal #10900 (CF, DAE)
  
• Unbalanced Growth
  Kala Krishna and Cesar A. Perez #10899 (ITI)
  
• Is Mexico A Lumpy Country?
  Andrew B. Bernard, Raymond Robertson, and Peter K. Schott #10898 (ITI)
  
• The Importance of R&D for Innovation: A Reassessment Using French Survey Data
  Jacques Mairesse and Pierre Mohnen #10897 (P)
  
• Well-Being and Social Capital: Does Suicide Pose a Puzzle?
  John F. Helliwell #10896 (HE)
  
• Biases in Static Oligopoly Models? Evidence from the California Electricity Market
  Dae-Wook Kim and Christopher R. Knittel #10895 (IO)
  
• What Happens When We Randomly Assign Children to Families?
  Bruce Sacerdote #10894 (C)
  
• Catching-Up to Foreign Technology? Evidence on the "Veblen-Gerschenkron" Effect of Foreign Investments
  Giovanni Peri and Dieter Urban #10893 (ITI)
  
• The Closing Gender Gap as a Roy Model Illusion
  Casey B. Mulligan and Yona Rubinstein #10892 (EFG, LS)
  
• Bidding with Securities: Auctions and Security Design
  Peter M. DeMarzo, Ilan Kremer, and Andrzej Skrzypacz #10891 (AP)
  
• The Dynamics of Income, Schooling, and Fertility Distributions Over the Course of Economic Development: A Human Capital Perspective
  Isaac Ehrlich and Jinyoung Kim #10890 (HE)
  
• The Cost of Nominal Inertia in NNS Models
  Matthew B. Canzoneri, Robert E. Cumby, and Behzad T. Diba #10889 (EFG)
  
• Disentangling the Importance of the Precautionary Saving Mode
  Arthur Kennickell and Annamaria Lusardi #10888 (EFG, A)
  
• $1000 Cash Back: Assymetric Information in Auto Manufacturer Promotions
  Meghan Busse, Florian Zettelmeyer, and Jorge Silva-Risso #10887 (IO)
  
• The Impact of the Civil War on Capital Intensity and Labor Productivity in Souther Manufacturing
  William A. Hutchinson and Robert A. Margo #10886 (DAE)
  
• One-Hit Wonders: Why Some of the Most Important Works of Modern Art Are Not By Important Artists
  David W. Galenson #10885 (LS)
  
• The Effect of Drug Vintage on Survival: Micro Evidence from Puerto Rico's Medicaid Program
  Frank R. Lichtenberg #10884 (HE, P)
  
• Inattentive Consumers
  Ricardo Reis #10883 (EFG)
  
• Aged-Care Support in Japan: Perspectives and Challenges
  Olivia S. Mitchell, John Piggott, and Satoshi Shimizutani #10882 (A, LS)
  

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Week of October 25, 2004

Latest NBER Working Papers

• Behavioral Economics and Health Economics
  Richard G. Frank #10881 (HE)
  
• R&D Subsidies and Climate Policy: Is There a "Free Lunch"?
  David Popp #10880 (ENV, P)
  
• Educational Opportunity and Income Inequality
  Paul Willen, Igal Hendel, and Joel Shapiro #10879 (EFG, ED)
  
• Two Decades of Japanese Monetary Policy and the Deflation Problem
  Takatoshi Ito and Frederic S. Mishkin #10878 (EFG, IFM, ME)
  
• Product Quality, Linder, and the Direction of Trade
  Juan Carlos Hallak #10877 (ITI)
  
• Minimum Hours Constraints, Job Requirements and Retirement
  Alan L. Gustman and Thomas L. Steinmeier #10876 (A, LS)
  
• Standing on Academic Shoulders: Measuring Scientific Influence in Universities
  James D. Adams, J. Roger Clemmons, and Paula E. Stephan #10875 (P)
  
• Piracy on the High C's: Music Downloading, Sales Displacement, and Social Welfare in a Sample of College Students
  Rafael Rob and Joel Waldfogel #10874 (IO. LE)
  
• From Home to Hospital: The Evolution of Childbirth in the United States, 1927-1940
  Melissa A. Thomasson and Jaret Treber #10873 (HE, DAE)
  
• Acquiring Control in Emerging Markets: Evidence from the Stock Market
  Anusha Chari, Paige P. Ouimet, and Linda L. Tesar #10872 (IFM, AP)
  
• Tiebout Sorting, Social Multipliers and the Demand for School Quality
  Patrick Bayer, Fernando Ferreira, and Robert McMillan #10871 (ED)
  
• Policy Watch: Challenges for Terrorism Risk Insurance in the United States
  Howard Kunreuther and Erwann Michel-Kerjan #10870
  
• The Unsustainable US Current Account Position Revisited
  Maurice Obstfeld and Kenneth Rogoff #10869 (EFG, IFM, ITI, ME)
  
• Autopsy on an Empire: Understanding Mortality in Russia and the Former Soviet Union
  Elizabeth Brainerd and David M. Cutler #10868 (HE)
  
• Theoretical Foundation of Buffer Stock Saving
  Christopher Carroll #10867 (EFG)
  
• Estimating Real Production and Expenditures Across Nations: A Proposal for Improving the Penn World Tables
  Robert C. Feenstra, Alan Heston, Marcel P. Timmer, and Haiyan Deng #10866 (ITI)
  
• An Equilibrium Model of Sorting in an Urban Housing Market
  Patrick Bayer, Robert McMillan, and Kim Rueben #10865 (PE)
  
• Fixed Costs and FDI: The Conflicting Effects of Productivity Shocks
  Assaf Razin, Yona Rubinstein, and Efraim Sadka #10864 (IFM, ITI)
  
• Behavioral Corporate Finance: A Survey
  Malcolm Baker, Richard S. Ruback, and Jeffrey Wurgler #10863 (CF)
  
• Increases in Wealth among the Elderly in the Early 1990s: How Much is Due to Survey Design?
  Susann Rohwedder, Steven J. Haider, and Michael D. Hurd #10862 (A)
  
• Compensating Wage Differentials and AIDS Risk
  Jeff DeSimone and Edward J. Schumacher #10861 (HE, LS)
  

  Chapters for Forthcoming NBER Books

  "Money Growth and Interest Rates"
  Seok-Kyun Hur
  "Jurisdictional Advantage"
  Maryann Feldman and Roger Martin
  Comment by Sheldon Garon on "A Frog in a Well Knows Nothing of the Ocean: A History of Corporate Ownership in Japan"
  Randall Morck and Masao Nakamura
  Introduction to "Health Care Issues in the United States and Japan"
  edited by David A. Wise and Naohiro Yashiro
  "The Volume-Outcome Relationship in Japan: the Case of Percutaneous Transluminal Coronary Angioplasty (PTCA) Volume on Mortality of Acute Myocardial Infarction (AMI) Patients"
  Koichi Kawabuchi, and Shigeru Sugihara
  "A Comparison of the Quality of Health Care in the United States and Japan: Treatment and Outcomes for Heart Attack Patients"
  Haruko Noguchi, Yuichiro Masuda, Masafumi Kuzuya, Akihiko Iguchi, Jeffery Geppert, and Mark McClellan
  "Conjoint Analysis to Estimate the Demand for Nicotine Replacement Therapy in Japan"
  Seiritsu Ogura, Wataru Suzuki, Makoto Kawamura and Tamotsu Kadoda
  "Removing the Instability and Inequity in the Japanese Health Insurance System"
  Seiritsu Ogura, Tamotsu Kadoda and Makoto Kawamura
  "Evaluating Japan's Health Care Reform of the 1990s and Its Efforts to Cope with Population Aging"
  Naohiro Yashiro, Reiko Suzuki and Wataru Suzuki
  "Market Concentration, Efficiency and Quality in the Japanese Home Help Industry"
  Yanfei Zhou and Wataru Suzuki
  "An International Look at the Medical Care Financing Problem"
  David M. Cutler
  "The U.S. Medical Care System for the Elderly"
  David M. Cutler and David A. Wise
  "Does Caregiving Affect Work? Evidence based on Prior Labor Force Experience"
  Kathleen McGarry
  "Geography and the Use of Effective Health Care in the United States"
  Jonathan Skinner

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Week of October 18, 2004

Latest NBER Working Papers

• Life-Cycle Asset Accumulation and Allocation in Canada
  Kevin Milligan #10860 (A)
  
• Poverty, Political Freedom, and the Roots of Terrorism
  Alberto Abadie #10859 (LE, PE)
  
• The Economics of Corporate Tax Selfishness
  Joel Slemrod #10858 (PE)
  
• Re-Assessing the U.S. Quality Adjustment to Computer Prices: The Role of Durability and Changing Software
  Robert C. Feenstra and Christopher R. Knittel #10857 (P)
  
• Microstructure of the Yen/Dollar Foreign Exchange Market: Patterns of Intra-day Activity in the Electronic Broking System
  Takatoshi Ito and Yuko Hashi #10856 (IFM, AP)
  
• Oil and the Macroeconomy Since the 1970s
  Robert Barsky and Lutz Kilian #10855 (EFG)
  
• Economic Growth and the Environment: A Review of Theory and Empirics
  William A. Brock and M. Scott Taylor #10854 (EFG, ENV)
  
• The US Gender Pay Gap in the 1990s: Slowing Convergence
  Francine D. Blau and Lawrence M Kahn #10853 (LS)
  
• The Cross-Section of Volatility and Expected Returns
  Andrew Ang, Robert J. Hodrick, Yuhang Xing, and Xiaoyan Zhang #10852 (AP)
  
• The Impact of Population Aging on Financial Markets
  James Poterba #10851 (A, AP)
  
• Do Stock Prices Really Reflect Fundamental Values? The Case of REITs
  William M. Gentry, Charles M. Jones, and Christopher J. Mayer #10850 (AP)
  
• Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies
  Maurice Obstfeld #10849 (IFM)
  
• The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective
  Willem H. Buiter #10848 (IFM, ME)
  
• Charles Kindleberger: An Impressionist in a Minimalist World
  Edward J. Kane #10847 (CF)
  
• Quantitative Goals for Monetary Policy
  Antonio Fatas, Ilian Mihov, and Andrew K. Rose #10846 (IFM, ME)
  
• Dollar Shortages and Crises
  Raghuram C. Rajan #10845 (IFM)
  
• Does Immigration Affect the Long-Term Educational Outcomes of Natives? Quasi-Experimental Evidence
  Eric D. Gould, Victor Lavy, and M. Daniele Paserman #10844 (ED, LS)
  
• External Adjustment
  Maurice Obstfeld #10843 (EFG, IFM)
  
• The Measurement and Evolution of Health Inequality: Evidence from the U.S. Medicare Population
  Jonathan Skinner and Weiping Zhou #10842 (A, HE)
  
• Dividend Taxes and Corporate Behavior: Evidence from the 2003 Dividend Tax Cut
  Raj Chetty and Emmanuel Saez #10841 (PE)
  

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Week of October 11, 2004

Latest NBER Working Papers

• Optimal Monetary and Fiscal Policy in a Liquidity Trap
  Gauti B. Eggertsson and Michael Woodford #10840 (EFG, ME)
  
• Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State
  Pierpaolo Benigno and Michael Woodford #10839 (EFG, ME)
  
• Inflation Stabilization and Welfare: The Case of a Distorted Steady State
  Pierpaolo Benigno and Michael Woodford #10838 (EFG, ME)
  
• Job Search and Impatience
  Stefano DellaVigna and M. Daniele Paserman #10837 (LS)
  
• Trade, Tragedy, and the Commons
  Brian R. Copeland and M. Scott Taylor #10836 (ITI)
  
• Strategic Extremism: Why Republicans and Democrats Divide on Religious Values
  Edward L. Glaeser, Giacomo A. M. Ponzetto, and Jesse M. Shapiro #10835 (EFG)
  
• Keeping Capital Flowing: The Role of the IMF
  Michael D. Bordo, Ashoka Mody, and Nienke Oomes #10834 (IFM)
  
• Deflation and Monetary Policy in a Historical Perspective: Remembering the Past or Being Condemned to Repeat it?
  Michael D. Bordo and Andrew Filardo #10833 (DAE, ME)
  
• Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets
  Nicola Cetorelli and Philip E. Strahan #10832 (CF, IO)
  
• Why Do Computers Depreciate?
  Michael J. Geske, Valerie A. Ramey, and Matthew D. Shapiro #10831 (EFG, P)
  
• Export Variety and Country Productivity
  Robert C. Feenstra and Hiau Looi Kee #10830 (ITI, P)
  
• Can Central Bank Transparency Go Too Far?
  Frederic S. Mishkin #10829 (ME)
  
• Accounting for Cross-Country Income Differences
  Francesco Caselli #10828 (EFG)
  
• Monetary Policy and the Currency Denomination of Debt: A Tale of Two Equilibria
  Andres Velasco and Roberto Chang #10827 (IFM)
  
• Reciprocated Unilateralism in Trade Reforms with Majority Voting
  Pravin Krishna and Devashish Mitra #10826 (ITI)
  
• Empirical Study of the Civil Justice System
  Daniel P. Kessler and Daniel L. Rubinfeld #10825 (LE)
  
• Charging Nox Emitters for Health Damages: An Exploratory Analysis
  Denise Mauzerall, Babar Sultan, Namsoug Kim, and David F. Bradford #10824 (HE, ENV)
  
• Pseudo Market Timing and Predictive Regressions
  Malcolm Baker, Ryan Taliaferro, and Jeffrey Wurgler #10823 (CF)
  
• Assessing the Impacts of the Prescription Drug User Fee Acts (PDUFA) on the FDA Approval Process
  Ernst R. Berndt, Adrian H. B. Gottschalk, Tomas Philipson, and Matthew W. Strobeck #10822 (HE, IO)
  

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Week of October 4, 2004

Latest NBER Working Papers

• Identification and Estimation of Discrete Games of Complete Information
  Patrick Bajari, Han Hong, and Stephen Ryan #T0301 (TWP)
  
• Corruption in America
  Edward L. Glaeser and Raven Saks #10821 (EFG, LE)
  
• Dynamic Trading Strategies and Portfolio Choice
  Ravi Bansal, Magnus Dahlquist, and Campbell R. Harvey #01820 (AP)
  
• Overestimating Self-Control: Evidence from the Health Club Industry
  Stefano DellaVigna and Ulrike Malmendier #10891 (LS)
  
• Inflation Targeting and Japan: Why has the Bank of Japan not Adopted Inflation Targeting?
  Takatoshi Ito #10818 (IFM, ME)
  
• Global Demographic Change: Dimensions and Economic Significance
  David E. Bloom and David Canning #10817 (A, LS)
  
• Over-the-Counter Markets
  Darrell Duffie, Nicolae Garleanu, and Lasse Heje Pedersen #10816 (AP)
  
• Efficiency of Thin and Thick Markets
  Li Gan and Qi Li #10815 (LS)
  
• Asset Pricing with Liquidity Risk
  Viral V. Acharya and Lasse Heje Pedersen #10814 (AP)
  
• Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction
  Ulrike Malmendier and Geoffrey Tate #10813 (AP)
  
• Are Investors Naive About Incentives?
  Ulrike Malmendier and Devin Shanthikumar #10812 (AP)
  
• Testing a Roy Model with Productivity Spillovers: Evidence from the Treatment of Heart Attacks
  Amitabh Chandra and Douglas Staiger #10811 (HE)
  
• Health Shocks and Couples' Labor Supply Decisions
  Courtney C. Coile #10810 (A, LS)
  
• The Effect of College Curriculum on Earnings: Accounting for Non-Ignorable Non-Response Bias
  Daniel S. Hamermesh and Stephen G. Donald #10809
  
• Fear of Service Outsourcing: Is It Justified?
  Mary Amiti and Shang-Jin Wei #10808 (ITI, LS)
  
• CEO Overconfidence and Corporate Investment
  Ulrike Malmendier and Geoffrey Tate #10807 (CF, LS)
  
• Economic Effects of Regional Tax Havens
  Mihir A. Desai, C. Fritz Foley, and James R. Hines Jr. #10806 (CF, IFM, PE)
  
• Estimating the Expected Marginal Rate of Substitution: Exploiting Idiosyncratic Risk
  Robert P. Flood and Andrew K. Rose #10805 (IFM, AP)
  
• Why Do Households Without Children Support Local Public Schools?
  Christian A.L. Hilber and Christopher J. Mayer #10804 (ED, PE)
  
• A Revealed Preference Ranking of U.S. Colleges and Universities
  Christopher Avery, Mark Glickman, Caroline Hoxby, and Andrew Metrick #10803 (ED)
  
• Jurisdictional Advantage
  Maryann Feldman and Roger Martin #10802 (P)
  

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