---

New This Week Archive

NBER Working Papers released in the past, by week.

---

Week of December 19, 2005

Latest NBER Working Papers

• Who Should Govern Congress? Access to Power and the Salary Grab of 1873
  Lee. J. Alston, Jeffrey A. Jenkins, and Tomas Nonnenmacher #11908 (DAE)
  
• Executive Pensions
  Lucian A. Bebchuk and Robert J. Jackson #11907 (CF, LS)
  
• International Stock Return Comovements
  Geert Bekaert, Robert J. Hodrick, and Xiaoyan Zhang #11906 (IFM, AP)
  
• What You Export Matters
  Ricardo Hausmann, Jason Hwang, and Dani Rodrik #11905 (ITI)
  
• Remedying Education: Evidence from Two Randomized Experiments in India
  Abhijit Banerjee, Shawn Cole, Esther Duflo, and Leigh Linden #11904 (ED, CH)
  
• CAPM Over the Long Run: 1926-2001
  Andrew Ang #11903 (AP)
  
• The Myth of the Drinker's Bonus
  Philip J. Cook #11902 (HE, LS)
  
• Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation
  Laura Alfaro, Sebnem Kalemli-Ozcan, and Vadym Volosovych #11901 (IFM, ITI)
  
• Markov Perfect Industry Dynamics with Many Firms
  Gabriel Weintraub, C. Lanier Benkard, and Ben Van Roy #11900 (IO)
  
• The Greatest Artists of the Twentieth Century
  David W. Galenson #11899 (LS)
  
• Central Bank Communication and Policy Effectiveness
  Michael Woodford #11898 (EFG, ME)
  
• The Role of Foreign Currency Debt in Financial Crises: 1880-1913 vs. 1972-1997
  Michael D. Bordo and Christopher M. Meissner #11897 (DAE, IFM, ME)
  
• Robustly Optimal Monetary Policy with Near Rational Expectations
  Michael Woodford #11896 (EFG, ME)
  
• The Expanding Workweek? Understanding Trends in Long Work Hours Among U.S. Men, 1979-2004
  Peter Kuhn and Fernando Lozano #11895 (LS, PE)
  
• Internationalization and Stock Market Liquidity
  Ross Levine and Sergio Schmukler #11894 (CF, IFM)
  
• Psychiatric Disorders and Labor Market Outcomes: Evidence from the National Latino and Asian American Study
  Pinka Chatterji, Margarita Alegria, Mingshan Lu, and David Takeuchi #11893 (HE, LS)
  
• What's Psychology Worth? A Field Experiment in the Consumer Credit Market
  Marianne Bertrand, Dean Karlan, Sendhil Mullainathan, Eldar Shafir, and Jonathan Zinman #11892 (CF, LS)
  
• Is Financial Globalization Beneficial?
  Frederic S. Mishkin #11891 (IFM, ME)
  
• Neckties in the Tropics: A Model of International Trade and Cultural Diversity
  James E. Rauch and Vitor Trindade #11890 (ITI)
  
• Life After Kyoto: Alternative Approaches to Global Warming
  William D. Nordhaus #11889 (EFG, PR, PE)
  

---

Week of December 12, 2005

Latest NBER Working Papers

• Mismatch
  Robert Shimer #11888 (EFG, LS)
  
• Measuring Aggregate Productivity Growth Using Plant-Level Data
  Amil Petrin and James Levinsohn #11887 (IO, PR)
  
• Firm Expansion and CEO Pay
  Lucian Bebchuk and Yaniv Grinstein #11886 (CF)
  
• Contractual Versus Generic Outsourcing: The Role of Proximity
  Robert C. Feenstra and Barbara J. Spencer #11885 (ITI, PR)
  
• Did Vasco da Gama Matter for European Markets? Testing Frederick Lane's Hypotheses Fifty Years Later
  Kevin H. O'Rourke and Jeffrey G. Williamson #11884 (DAE, ITI)
  
• The Law and Economics of Self-Dealing
  Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes, and Andrei Shleifer #11883 (CF, LE)
  
• Investor Sentiment and Corporate Finance: Micro and Macro
  Owen A. Lamont and Jeremy C. Stein #11882 (CF)
  
• The Demand for Social Interaction
  Henry Saffer #11881 (HE)
  
• Monitoring Work: Getting Teachers to Come to School
  Esther Duflo and Rema Hanna #11880 (CH, ED)
  
• Fast-Food Restaurant Advertising on Television and Its Influence on Childhood Obesity
  Shin-Yi Chou, Inas Rashad, and Michael Grossman #11879 (HE)
  
• The More Things Change, the More They Stay the Same: Trends in Long-term Employment in the United States, 1969-2002
  Ann Huff Stevens #11878 (LS)
  
• Pensions for an Aging Population
  Peter Diamond #11877 (AG, PE)
  
• Technological Revolution and Stock Prices
  Lubos Pastor and Pietro Veronesi #11876 (AP)
  
• The Future of Drug Development: The Economics of Phamacogenomics
  John A. Vernon and W. Keener Hughen #11875 (HE, PR)
  
• Generalizing the Taylor Principle
  Troy Davig and Eric M. Leeper #11874 (EFG)
  
• The Impact of Minimum Quality Standards on Firm Entry, Exit and Product Quality: the Case of the Child Care Market
  V. Joseph Hotz and Mo Xiao #11873 (CH)
  
• Games Parents and Adolescents Play: Risky Behaviors, Parental Reputation, and Strategic Transfers
  Lingxin Hao, V. Joseph Hotz, and Ginger Z. Jin #11872 (CH)
  
• The Economic Impact of AIDS Treatment: Labor Supply in Western Kenya
  Harsha Thirumurthy, Joshua Graff Zivin, and Markus Goldstein #11871 (HE)
  
• The Response of Prices, Sales, and Output to Temporary Changes in Demand
  Adam Copeland and George Hall #11870 (EFG, IO)
  
• Are Countercyclical Fiscal Policies Counterproductive?
  David B. Gordon and Eric M. Leeper #11869 (EFG)
  
• The Net Asset Position of the U.S. National Government, 1784-1802: Hamilton's Blessing or the Spoils of War?
  Farley Grubb #11868 (DAE)
  
• Thinking Ahead: The Decision Problem
  Patrick Bolton and Antoine Faure-Grimaud #11867 (CF)
  
• A Dual Policy Paradox: Why Have Trade and Immigration Policies Always Differed in Labor-Scarce Economies?
  Timothy J. Hatton and Jeffrey G. Williamson #11866 (DAE, ITI, LS)
  
• Confronting Divergent Interests in Cross-Country Regulatory Arrangements
  Edward J. Kane #11865 (CF)
  
• Equilibrium Commodity Prices with Irreversible Investment and Non-Linear Technology
  Jaime Casassus, Pierre-Collin Dufresne, and Bryan R. Routledge #11864 (AP)
  
• The Perception and Valuation of the Risks of Climate Change: A Rational and Behavioral Blend
  W. Kip Viscusi and Richard J. Zeckhauser #11863 (HE, LE, PE)
  
• How Do Budget Deficits and Economic Growth Affect Reelection Prospects? Evidence from a Large Cross-Section of Countries
  Adi Brender and Allan Drazen #11862 (EFG)
  
• Can Standard Preferences Explain the Prices of out of the Money S&P 500 Put Options
  Luca Benzoni, Pierre Collin-Dufresne, and Robert S. Goldstein #11861 (AP)
  
• Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?
  Edward J. Kane #11860 (CF)
  
• The Generational Divide in Support for Environmental Policies: European Evidence
  Joni Hersch and W. Kip Viscusi #11859 (HE)
  

---

Week of December 5, 2005

Latest NBER Working Papers

• Simulating the Dynamic Macroeconomic and Microeconomic Effects of the FairTax
  Laurence J. Kotlikoff and Sabine Jokisch #11858 (PE)
  
• Myths and Realities of American Political Geography
  Edward L. Glaeser and Bryce A. Ward #11857 (DAE)
  
• Monetary Policy in a Changing International Environment: The Role of Capital Flows
  Martin Feldstein #11856 (IFM, ME, PE)
  
• The Impact of Provider Choice on Workers' Compensation Costs and Outcomes
  David Neumark, Peter S. Barth, and Richard Victor #11855 (LS)
  
• Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model
  Stephanie Schmitt-Grohe and Martin Uribe #11854 (EFG, ME)
  
• Three Current Account Balances: A "Semi-Structuralist" Interpretation
  Menzie D. Chinn and Jaewoo Lee #11853 (IFM)
  
• Platform Owner Entry and Innovation in Complementary Markets: Evidence from Intel
  Annabelle Gawer and Rebecca Henderson #11852 (IO, PR)
  
• Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market
  Xavier Gabaix, Arvind Krishnamurthy, and Olivier Vigneron #11851 (AP)
  
• Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model
  Axel Boersch-Supan, Alexander Ludwig, and Joachim Winter #11850 (AG, IFM)
  
• Inertia and Incentives: Bridging Organizational Economics and Organizational Theory
  Rebecca Henderson and Sarah Kaplan #11849 (IO, PR)
  
• Search Profiling with Partial Knowledge of Deterrence
  Charles F. Manski #11848 (PE)
  
• Competition in Large Markets
  Jeffrey R. Campbell #11847 (EFG, IO)
  
• Improving the Performance of the Education Sector: The Valuable, Challenging, and Limited Role of Random Assignment Evaluations
  Richard J. Murnane and Richard R. Nelson #11846 (ED)
  
• Equilibrium Bias of Technology
  Daron Acemoglu #11845 (EFG, PR)
  
• How Changes in Entry Requirements Alter the Teacher Workforce and Affect Student Achievement
  Donald Boyd, Pamela Grossman, Hamilton Lankford, Susanna Loeb, and James Wyckoff #11844 (ED)
  
• Demand-Based Option Pricing
  Nicolae Garleanu, Lasse Heje Pedersen, and Allen M. Poteshman #11843 (AP)
  
• Where did the Productivity Growth Go? Inflation Dynamics and the Distribution of Income
  Ian Dew-Becker and Robert J. Gordon #11842 (EFG, LS)
  
• The Myth of Long-Horizon Predictability
  Jacob Boudoukh, Matthew Richardson, and Robert Whitelaw #11841 (AP)
  
• The Information in Long-Maturity Forward Rates Implications for Exchange Rates and the Forward Premium Anomaly
  Jacob Boudoukh, Matthew Richardson, and Robert Whitelaw #11840 (IFM, AP)
  
• Firm Fragmentation and Urban Patterns
  Esteban Rossi-Hansberg, Pierre-Daniel Sarte, and Raymond Owens III #11839 (EFG)
  
• Persuasion in Finance
  Sendhil Mullainathan and Andrei Shleifer #11838 (CF, AP)
  
• The Cost of Caring for Young Children
  Dan T. Rosenbaum and Christopher J. Ruhm #11837 (CH)
  
• Rising Family Income Inequality in the United States, 1968-2000: Impacts of Changing Labor Supply, Wages, and Family Structure
  Chulhee Lee #11836 (LS)
  
• New Evidence on the Causal Link Between the Quantity and Quality of Children
  Joshua D. Angrist, Victor Lavy, and Analia Schlosser #11835 (ED, LS, CH)
  
• Financial System Risk and Flight to Quality
  Ricardo J. Caballero and Arvind Krishnamurthy #11834 (CF, EFG, DAE, IFM, ME)
  
• Who's Going Broke? Comparing Growth in Healthcare Costs in Ten OECD Countries
  Laurence J. Kotlikoff and Christian Hagist #11833 (AG, HE, PE)
  

---

Week of November 28, 2005

Latest NBER Working Papers

• Universal Childcare, Maternal Labor Supply, and Family Well-Being
  Michael Baker, Jonathan Gruber, and Kevin Milligan #11832 (PE, CH)
  
• Would the FairTax Raise or Lower Marginal and Average Tax Rates
  Laurence J. Kotlikoff and David Rapson #11831 (PE)
  
• Do Capital Adequacy Requirements Matter for Monetary Policy?
  Stephen G. Cecchetti and Lianfi Li #11830 (ME)
  
• The Effect of Firm-Level Contracts on the Structure of Wages: Evidence from Matched Employer-Employee Data
  David Card and Sara de la Rica #11829 (LS)
  
• Trade in Ideal Varieties: Theory and Evidence
  David Hummels and Volodymyr Lugovskyy #11828 (ITI)
  
• Modeling the Offshoring of White-Collar Services: From Comparative Advantage to the New Theories of Trade and FDI
  James Markusen #11827 (ITI, LS)
  
• Efficiency and Welfare with Complementarities
  George-Marios Angeletos and Alessandro Pavan #11826 (EFG)
  
• Surviving Andersonville: The Benefits of Social Networks in POW Camps
  Dora L. Costa and Matthew E. Kahn #11825 (DAE)
  
• Downside Risk
  Andrew Ang, Joseph Chen, and Yuhang Xing #11824 (AP)
  
• Current Account Deficits in Industrial Countries: The Bigger they are the Harder they Fall?
  Caroline Freund and Frank Warnock #11823 (IFM)
  
• Insurer-Provider Networks in the Medical Care Market
  Katherine Ho #11822 (HE)
  
• Towards a Theory of Firm Entry and Stabilization Policy
  Paul R. Bergin and Giancarlo Corsetti #11821 (ME)
  
• Inattentive Producers
  Ricardo Reis #11820 (EFG, ME)
  
• The Welfare Effects of Restricted Hospital Choice in the US Medical Care Market
  Katherine Ho #11819 (HE)
  
• Medical Expenditure Risk and Household Portfolio Choice
  Dana Goldman and Nicole Maestas #11818 (AG, HE)
  
• Salary or Benefits?
  Paul Oyer #11817 (LS, LE)
  
• Cash-Flow Risk, Discount Risk, and the Value Premium
  Tano Santos and Pietro Veronesi #11816 (AP)
  
• Optimal Monetary and Fiscal Policy in a Currency Union
  Jordi Gali and Tommaso Monacelli #11815 (EFG, IFM, ME)
  
• How Big a Problem is Too Big to Fail?
  Frederic S. Mishkin #11814 (ME)
  
• Racial Sorting and Neighborhood Quality
  Patrick Bayer and Robert McMillan #11813 (ED)
  
• How Much is Too Much? The Influence of Preschool Centers on Children's Social and Cognitive Development
  Susanna Loeb, Margaret Bridges, Daphna Bassok, Bruce Fuller, and Russ Rumberger #11812 (ED, CH)
  
• Aching to Retire? The Rise in the Full Retirement Age and its Impact on the Disability Rolls
  Mark Duggan, Perry Singleton, and Jae Song #11811 (AG, HE, PE)
  
• Who Benefits from New Medical Technologies? Estimates of Consumer and Prodicer Surpluses for HIV/AIDS Drugs
  Thomas J. Philipson and Anupam B. Jena #11810 (HE, PR)
  
• Consumer Benefits from Increased Competition in Shopping Outlets: Measuring the Effect of Wal-Mart
  Jerry Hausman and Ephraim Leibtag #11809 (EFG, PR)
  
• Searching for Better Prospects: Endogenizing Failing Job Tenure and Private Pension Coverage
  Leora Friedberg, Michael T. Owyang, and Tara M. Sinclair #11808 (AG, LS)
  
• Well-Being, Social Capital and Public Policy: What's New?
  John F. Helliwell #11807 (LS)
  

---

Week of November 14, 2005

Latest NBER Working Papers

• Real Wage Rigidities and the New Keynesian Model
  Olivier Blanchard and Jordi Gali #11806 (EFG)
  
• Parental Preferences and School Competition: Evidence from a Public School Choice Program
  Justine S. Hastings, Thomas J. Kane, and Douglas O. Staiger #11805 (ED, PE, CH)
  
• Farm Productivity and Market Structure: Evidence from Cotton Reforms in Zambia
  Irene Brambilla and Guido Porto #11804 (ITI)
  
• What Can Rational Investors Do About Excessive Volatility and Sentiment Fluctuations?
  Bernard Dumas, Alaxender Kurshev, and Raman Uppal #11803 (AP)
  
• Choice and Competition in Local Education Markets
  Patrick Bayer and Robert McMillan #11802 (ED, PE)
  
• Information Technology and the Japanese Economy
  Dale W. Jorgenson and Kazuyuki Motohashi #11801 (PR)
  
• The Industry Origins of Japanese Economic Growth
  Dale W. Jorgenson and Koji Nomura #11800 (EFG, PR)
  
• Creative Careers: The Life Cycles of Nobel Laureates in Economics
  Bruce A. Weinberg and David W. Galenson #11799 (LS)
  
• Foreign Subsidization and the Excess Capacity Hypothesis
  Bruce A. Blonigen and Wesley W. Wilson #11798 (ITI)
  
• Motivations for Public Equity Offers:An International Perspective
  Woojin Kim and Michael S. Weisbach #11797 (CF)
  
• From the Cradle to the Labor Market? The Effect of Birth Weight on Adult Outcomes
  Sandra E. Black, Paul J. Devereux, and Kjell Salvanes #11796 (ED, HE, LS, CH)
  
• Stuck on Gold: Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard
  Natalia Chernyshoff, David S. Jacks, and Alan M. Taylor #11795 (DAE, ITI, IFM)
  
• Economic Outcomes and the Decision to Vote: The Effect of Randomized School Admission on Voter Participation
  Justine S. Hastings, Thomas J. Kane, Douglas O. Staiger, and Jeffrey M. Weinstein #11794 (ED, LS, PE, CH)
  
• An Analysis of the Impact of Affirmative Action Programs on Self-Employment in the Construction Industry
  David G. Blanchflower and Jon Wainwright #11793 (LS, LE)
  
• Establishing Credibility: Evolving Perceptions of the European Central Bank
  Linda S. Goldberg and Michael W. Klein #11792 (IFM, ME)
  
• Output Costs, Currency Crises, and the Interest Rate Defense of a Peg
  Amartya Lahiri and Carlos A. Vegh #11791 (IFM)
  
• Does Hazardous Waste Matter? Evidence from the Housing Market and the Superfund Program
  Michael Greenstone and Justin Gallagher #11790 (LS, PE, CH)
  
• Paternalism and Psychology
  Edward L. Glaeser #11789 (EFG, LE, PE)
  
• Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve
  Jordi Gali, Mark Gertler, and J. David Lopez-Salido #11788 (EFG, ME)
  
• Openness Can be Good for Growth: The Role of Policy Complementarities
  Roberto Chang, Linda Kaltani, and Norman Loayza #11787 (EFG, IFM, ITI)
  
• Pay Inequality, Pay Secrecy, and Effort: Theory and Evidence
  Gary Charness and Peter Kuhn #11786 (LS)
  
• Evaluation of Currency Regimes: The Unique Role of Sudden Stops
  Assaf Razin and Yona Rubinstein #11785 (IFM)
  
• Two Theories of Money Reconciled: The Colonial Puzzle Revisited with New Evidence
  Farley Grubb #11784 (DAE)
  
• The U.S. Constitution and Monetary Powers
  Farley Grubb #11783 (DAE)
  
• The Effects of Wal-Mart on Local Labor Markets
  David Neumark, Junfu Zhang, and Stephen Ciccarella #11782 (LS)
  
• Liability for Accidents
  Steven Shavell #11781 (LE)
  
• The Theory of Public Law Enforcement
  A. Mitchell Polinsky and Steven Shavell #11780 (LE)
  
• Financial Crises and Political Crises
  Roberto Chang #11779 (IFM)
  
• The 1920s and the 1990s in Mutual Reflection
  Robert J. Gordon #11778 (EFG, DAE)
  
• What Caused the Decline in U.S. Business Cycle Volatility?
  Robert J. Gordon #11777 (EFG, ME)
  
• A Century of Housing Shelter Prices: Is there a Downfall Bias in the CPI?
  Robert J. Gordon and Todd vanGoethem #11776 (EFG, PR)
  

---

Week of November 7, 2005

Latest NBER Working Papers

• Roughing it Up: Including Jump Components in the Measurement, Modeling and Forecasting of Return Volatility
  Torben G. Anderson, Tim Bollerslev, and Francis X. Diebold #11775 (AP)
  
• The Complementary Role of Exports and R&D Investments as Sources of Productivity Growth
  Bee Yan Aw, Mark J. Roberts, and Tor Winston #11774 (ITI, PR)
  
• How Does Information Technology Really Affect Productivity? Plant-Level Comparisons of Product Innovation, Process Improvement and Worker Skills
  Ann P. Bartel, Casey Ichniowski, and Kathryn L. Shaw #11773 (LS, PR)
  
• The Creation of the Rule of Law and the Legitimacy of Property: The Political and Economic Consequences of a Corrupt Privatization
  Joseph E. Stiglitz and Karla Hoff #11772 (EFG, PE)
  
• Interest Rates, Exchange Rates and International Adjustment
  Michael P. Dooley, David Folkerts-Landau, and Peter M. Garber #11771 (IFM)
  
• Drug Advertising and Health Habits
  Toshiaki Iizuka and Ginger Zhe Jin #11770 (HE, IO)
  
• What Defines ‘News' in Foreign Exchange Markets?
  Kathryn Dominguez and Freyan Panthaki #11769 (IFM)
  
• Electronic Filing, Tax Preparers, and Participation in the Earned Income Tax Credit
  Wojciech Kopczuk and Cristian Pop-Eleches #11768 (PE)
  
• To Leave or Not To Leave: The Distribution of Bequest Motives
  Wojciech Kopczuk and Joseph P. Lupton #11767 (AG, PE)
  
• Unobserved Actions of Mutual Funds
  Marcin Kacperczyk, Clemens Sialm, and Lu Zheng #11766 (AP)
  
• Internet Advertising and the Generalized Second Price Auction: Selling Billions of Dollars Worth of Keywords
  Benjamin Edelman, Michael Ostrovsky, and Michael Schwarz #11765 (IO)
  
• General Equilibrium Analysis of the Eaton-Kortum Model of International Trade
  Fernando Alvarez and Robert E. Lucas #11764 (EFG, ITI)
  
• A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy
  Li Gan and Tarun Sabarwal #11763 (AG)
  
• Cities and Countries
  Andrew K. Rose #11762 (IFM, ITI)
  
• Current Account Balances, Financial Development and Institutions: Assaying the World "Savings Glut"
  Menzie D. Chinn and Hiro Ito #11761 (IFM)
  
• Why do Unemployment Benefits Raise Unemployment Durations? The Role of Borrowing Constraints and Income Effects
  Raj Chetty #11760 (LS, PE)
  
• How's the Job? Well-Being and Social Capital in the Workplace
  John F. Helliwell and Haifang Huang #11759 (LS)
  
• The Role of Beliefs in Inference for Rational Expectations Models
  Bruce N. Lehmann #11758 (AP)
  
• An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment
  Itay Goldstein and Assaf Razin #11757 (IFM, ITI)
  
• Tax Changes and Asset Pricing: Time-Series Evidence
  Clemens Sialm #11756 (AP, PE)
  
• Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets
  Xavier Gabaix and David Laibson #11755 (EFG)
  
• The Transformation of Hunger: The Demand for Calories Past and Present
  Trevon D. Logan #11754 (DAE)
  
• Monitoring Corruption: Evidence from a Field Experiment in Indonesia
  Benjamin A. Olken #11753 (PE)
  
• Buyer Investment, Product Variety, and Intrafirm Trade
  Yongmin Chen and Robert C. Feenstra #11752 (ITI)
  

---

Week of October 31, 2005

Latest NBER Working Papers

• Why Don't More Puerto Rican Men Work? The Rich Uncle (Sam) Hypothesis
  Maria Enchautegui and Richard B. Freeman #11751 (LS, PE)
  
• European Unemployment: The Evolution of Facts and Ideas
  Olivier Blanchard #11750 (EFG, LS)
  
• Can IT be Japan's Savior?
  Fumio Hayashi and Koji Nomura #11749 (ITI, PR)
  
• Understanding Order Flow
  Martin D. D. Evans and Richard K. Lyons #11748 (IFM, AP)
  
• Socially Responsible Investment in Japanese Pensions
  Henry Hongho Jin, Olivia S. Mitchell, and John Piggott #11747 (AG, LS)
  
• A Cost-of-Living Dynamic Price Index, with an Application to Indexing Retirement Accounts
  Ricardo Reis #11746 (AG, ME, PE)
  
• A Customs Union with Multinational Firms: The Automobile Market in Argentina and Brazil
  Irene Brambilla #11745 (ITI)
  
• "The War for the Fare": How Driver Compensation Affects Bus System Performance
  Ryan M. Johnson, David H. Reiley, and Juan Carlos Munoz #11744 (IO, LS)
  
• Do Temporary Help Jobs Improve Labor Market Outcomes for Low Skilled Workers? Evidence from Random Assignments
  David Autor and Susan Houseman #11743 (LS, PE)
  
• Temporary Agency Employment as a Way out of Poverty?
  David Autor and Susan Houseman #11742 (LS, PE)
  
• Default Risk Sharing Between Banks and Markets: The Contribution of Collateralized Debt
  Gunter Franke and Jan Pieter Krahnen #11741 (AP)
  
• Hard Targets: Theory and Evidence on Suicide Attacks
  Eli Berman and David Laitin #11740 (LS)
  
• Identifying Age, Cohort and Period Effects in Scientific Research Productivity: Discussion and Illustration Using Simulated and Actual Data on French Physicists
  Bronwyn H. Hall, Jacques Mairesse, and Laure Turner #11739 (PR)
  
• Debiasing through Law
  Christine Jolls and Cass R. Sunstein #11738 (LE)
  
• Underground Gun Markets
  Philip J. Cook, Jens Ludwig, Sudhir Venkatesh, and Anthony A. Braga #11737 (HE, LE, CH)
  
• Stock Returns and Expected Business Conditions: Half a Century of Evidence
  Sean D. Campbell and Francis X. Diebold #11736 (EFG, AP)
  
• A Portfolio View of Consumer Credit
  David K. Musto and Nicholas S. Souleles #11735 (EFG, ME, AP)
  
• Usury Ceilings, Relationships and Bank Lending Behavior: Evidence from Nineteenth Century New York
  Howard Bodenhorn #11734 (DAE)
  
• Monetary Policy with Model Uncertainty: Distribution Forecast Targeting
  Lars E. O. Svensson and Noah Williams #11733 (EFG, IFM, ME)
  
• Colorism and African American Wealth: Evidence from the Nineteenth Century South
  Howard Bodenhorn and Christopher S. Ruebeck #11732 (DAE)
  
• Precautionary Savings and the Importance of Business Owners
  Erik Hurst, Arthur Kennickell, Annamaria Lusardi, and Francisco Torralba #11731 (EFG, AG, PE)
  
• Mughal Decline, Climate Change, and Britain's Industrial Ascent: An Integrated Perspective on India's 18th and 19th Century Deindustrialization
  David Clingingsmith and Jeffrey G. Williamson #11730 (DAE)
  
• Behavioral Responses to Taxes: Lessons from the EITC and Labor Supply
  Nada Eissa and Hilary Hoynes #11729 (LS, PE)
  
• Has Financial Development Made the World Riskier?
  Raghuram G. Rajan #11728 (CF, IFM)
  

---

Week of October 24, 2005

Latest NBER Working Papers

• Edgeworth Expansions for Realized Volatility and Related Estimators
  Lan Zhang, Per A. Mykland, and Yacine Ait-Sahalia #T0319 (TWP)
  
• U.S. v Microsoft: Did Consumers Win?
  David S. Evans, Albert L. Nichols, and Richard Schmalensee #11727 (IO, LE)
  
• Turning Workers into Savers? Incentives, Liquidity, and Choice in 401(k) Plan Design
  Olivia S. Mitchell, Stephen P. Utkus, and Tongxuan (Stella) Yang #11726 (AG, LS, PE)
  
• Using Experimental Economics to Measure the Effects of a Natural Educational Experiment on Altruism
  Eric Bettinger and Robert Slonim #11725 (ED)
  
• Assessing the Safety and Efficacy of the FDA: The Case of the Prescription Drug User Fee Acts
  Tomas J. Philipson, Ernst R. Berndt, Adrian H. B. Gottschalk, and Matthew W. Strobeck #11724 (HE, PR)
  

---

Week of October 17, 2005

Latest NBER Working Papers

• Moral Hazard in Nursing Home Use
  David C. Grabowski and Jonathan Gruber #11723 (AG, HE, PE)
  
• Institutional Investors and Stock Market Volatility
  Xavier Gabaix, Parameswaran Gopikrishnan, Vasiliki Plerou, and H. Eugene Stanley #11722 (EFG, AP)
  
• Training, Wages, and Sample Selection: Estimating Sharp Bounds on Treatment Effects
  David S. Lee #11721 (LS)
  
• Local Public Good Provision: Voting, Peer Effects, and Mobility
  Stephen Calabrese, Dennis Epple, Thomas Romer, and Holger Sieg #11720 (PE)
  
• Supply Capacity, Vertical Specialization and Tariff Rates: The Implications for Aggregate U.S. Trade Flow Equations
  Menzie D. Chinn #11719 (IFM, ITI)
  
• Y2K and Offshoring: the Role of External Economies and Firm Heterogeneity
  Devashish Mitra and Priya Ranjan #11718 (ITI)
  
• Foreign Direct Investment and Domestic Economic Activity
  Mihir A. Desai, C. Fritz Foley, and James R. Hines #11717 (CF, IFM, ITI, PE)
  
• A Political-Economy Theory of Trade Agreements
  Giovanni Maggi and Andres Rodriguez-Clare #11716 (ITI)
  
• Do the Young British Artists Rule (or: Has London Stolen the Idea of Postmodern Art from New York?): Evidence from the Auction Market
  David W. Galenson #11715 (LS)
  
• Review of a History of the Federal Reserve. Volume 1 (2003) by Allan H. Meltzer
  Michael D. Bordo #11714 (DAE, ME)
  
• Monetary and Exchange Rate Policy Coordination in ASEAN+1
  William H. Branson #11713 (IFM, ITI)
  
• Changing Looks and Changing "Discrimination:" The Beauty of Economists
  Daniel S. Hamermesh #11712 (LS)
  
• Dams
  Esther Duflo and Rohini Pande #11711 (PE)
  
• Job Hopping in Silicone Valley: Some Evidence Concerning the Micro-Foundations of a High Technology Cluster
  Bruce Fallick, Charles A. Fleischmann, and James B. Rebitzer #11710 (LS, PR)
  
• Consumption Smoothing and the Welfare Consequences of Social Insurance in Developing Economies
  Raj Chetty and Adam Looney #11709 (PE)
  
• Income Risk and the Benefits of Social Insurance: Evidence from Indonesia and the United States
  Raj Chetty and Adam Looney #11708 (PE)
  
• The Effects of Cardiac Specialty Hospitals on the Cost and Quality of Medical Care
  Jason R. Barro, Robert S. Huckman, and Daniel P. Kessler #11707 (HE)
  
• A Re-Examination of the Border Effect
  Yuriy Gorodnichenko and Linda Tesar #11706 (IFM)
  
• Does the Profit Motive Make Jack Nimble? Ownership Form and the Evolution of the U.S. Hospital Industry
  Sujoy Chakravarty, Martin Gaynor, Steven Klepper, and William B. Vogt #11705 (HE)
  
• Contraception as Development? New Evidence from Family Planning in Colombia
  Grant Miller #11704 (HE, CH)
  
• Macro Factors in Bond Risk Premia
  Sydney C. Ludvigson and Serena Ng #11703 (AP)
  
• Does Head Start Improve Children's Life Chances? Evidence from a Regression Discontinuity Design
  Jens Ludwig and Douglas L. Miller #11702 (CH)
  
• International Capital Flows, Returns and World Financial Integration
  Martin D. D. Evans and Viktoria Hnatkovska #11701 (IFM)
  

---

Week of October 10, 2005

Latest NBER Working Papers

• Solving General Equilibrium Models with Incomplete Markets and Many Assets
  Martin D. D. Evans and Viktoria Hnatkovska #T0318 (TWP)
  
• Generalized Stochastic Gradient Learning
  George W. Evans, Seppo Honkapohja, and Noah Williams #T0317 (TWP)
  
• Dynamic Discrete choice and Dynamic Treatment Effects
  James J. Heckman and Salvador Navarro #T0316 (TWP)
  
• Convergence Properties of the Likelihood of Computed Dynamic Models
  Jesus Fernandez-Villaverde, Juan F. Rubio-Ramirez, and Manuel S. Santos #T0315 (TWP)
  
• Good bye Lenin (or not?): The Effect of Communism on People's Preferences
  Alberto Alesina and Nicola Fuchs Schuendeln #11700 (PE)
  
• The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations
  Ariel Burstein, Martin Eichenbaum, and Sergio Rebelo #11699 (EFG, IFM, ME)
  
• Banking System Stability: A Cross-Atlantic Perspective
  Philipp Hartmann, Stefan Straetmans, and Casper G. De Vries #11698 (AP)
  
• Do Local Analysts Know More? A Cross-Country Study of the Performance of Local Analysts and Foreign Analysts
  Kee-Hong Bae, Rene M. Stulz, and Hongping Tan #11697 (AP)
  
• Capital Flows in a Globalized World: The Role of Policies and Institutions
  Laura Alfaro, Sebnem Kalemli-Ozcan, and Vadym Volosovych #11696 (IFM)
  
• Historical Financing of Small- and Medium-Sized Enterprises
  Robert Cull, Lance E. Davis, Naomi R. Lamoreaux, and Jean-Laurent Rosenthal #11695 (DAE)
  
• Measures of Per Capita Hours and their Implications for the Technology-Hours Debate
  Neville Francis and Valerie A. Ramey #11694 (EFG, LS)
  
• Work Hours, Wages, and Vacation Leave
  Joseph G. Altonji and Emiko Usui #11693 (LS)
  

---

Week of October 3, 2005

Latest NBER Working Papers

• More on Unemployment and Vacancy Fluctuations
  Dale T. Mortensen #11692 (EFG, LS)
  
• Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies
  Enrique G. Mendoza #11691 (IFM)
  
• Race and Health Disparities Among Seniors in Urban Areas in Brazil
  Antonio J. Trujillo, John A. Vernon, Laura Rodriguez Wong, and Gustavo Angeles #11690 (HE)
  
• Liquidity and Insurance for the Unemployed
  Robert Shimer and Ivan Werning #11689 (EFG, LS, PE)
  
• Airplanes and Comparative Advantage
  James Harrigan #11688 (ITI)
  
• Fiscal Hedging and the Yield Curve
  Hanno Lustig, Christopher Sleet, and Sevin Yeltekin #11687 (EFG, ME, AP, PE)
  
• Who Bears the Corporate Tax? A Review of What We Know
  Alan J. Auerbach #11686 (PE)
  
• The Risk-Adjusted Cost of Financial Distress
  Heitor Almeida and Thomas Philippon #11685 (CF)
  
• The Labor Market and Macro Volatility: A Nonstationary General-Equilibrium Analysis
  Robert E. Hall #11684 (EFG, LS)
  
• Investor Inattention, Firm Reaction, and Friday Earnings Announcements
  Stefano DellaVigna and Joshua Pollet #11683 (AP)
  
• Markov Forecasting Methods for Welfare Caseloads
  Jeffrey Grogger #11682 (LS, PE)
  
• Poverty in America: Trends and Explanations
  Hilary Hoynes, Marianne Page, and Ann Stevens #11681 (LS, PE)
  

---

---

Search the NBER Working Paper database

Papers by JEL Class

Papers Cited in the Press

Select Non-Technical Summaries

---

If you have questions regarding publications on this list or would like to make a suggestion regarding this page, please e-mail our Publications Department at orders@nber.org.

---