---

New This Week Archive

NBER Working Papers released in the past, by week.

---

Week of June 27, 2005

Latest NBER Working Papers

• Heterogeneous Firms and Trade: Testable and Untestable Properties of the Melitz Model
  Richard Baldwin #11471 (ITI)
  
• Early Academic Science and the Birth of Industrial Research Laboratories in the U.S. Pharmaceutical Industry
  Megan MacGravie and Jeffrey L. Furman #11470 (DAE, PR)
  
• Taxation and the Evolution of Aggregate Corporate Ownership Concentration
  Mihir A. Desai, Dhammika Dharmapala, and Winnie Fung #11469 (CF, PE)
  
• Predicting the Equity Premium Out Of Sample: Can Anything Beat the Historical Average?
  John Y. Campbell and Samuel B. Thompson #11468 (AP)
  
• Implications of Dynamic Factor Models for VAR Analysis
  James H. Stock and Mark W. Watson #11467 (EFG)
  
• Spacey Parents: Spatial Autoregressive Patterns in Inbound FDI
  Bruce A. Blonigen, Ronald B. Davies, Helen T. Naughton, and Glen R. Waddell #11466 (ITI)
  
• Do Formal Intellectual Property Rights Hinder the Free Flow of Scientic Knowledge? An Empirical Test of the Anti-Commons Hypothesis
  Fiona Murray and Scott Stern #11465 (IO, PR)
  
• Affirmative Action and Its Mythology
  Roland G. Fryer, Jr. and Glenn C. Loury #11464 (LS, PE)
  
• Principals as Agents: Subjective Performance Measurements in Education
  Brian A. Jacob and Lars Lefgren #11463 (CH, ED)
  
• Socially Optimal Districting
  Stephen Coate and Brian Knight #11462 (PE, POL)
  
• Estimating Risk Preferences from Deductible Choice
  Alma Cohen and Liran Einav #11461 (IO)
  
• The Role of Patents for Bridging the Science to Market Gap
  Thomas Hellmann #11460 (PR)
  
• Investment-Based Underperformance Following Seasoned Equity Offerings
  Evgeny Lyandres, Le Sun, and Lu Zhang #11459 (AP)
  
• Organization and Inequality in a Knowledge Economy
  Luis Garicano and Esteban Rossi-Hansberg #11458 (EFG)
  
• Does Globalization of the Scientific/Engineering Workforce Threaten U.S. Economic Leadership
  Richard B. Freeman #11457 (ED, ITI, LS, PR)
  
• Mexican Immigration and Self-Selection: New Evidence from the 2000 Mexican Census
  Pablo Ibarraran and Darren Lubotsky #11456 (LS)
  
• Accounting for the Effect of Health on Economic Growth
  David N. Weil #11455 (EFG, HE)
  
• Labor Supply Effects of the Earned Income Tax Credit: Evidence from Wisconsin's Supplemental Benefit for Families with Three Children
  Maria Cancian and Arik Levinson #11454 (LS, PE)
  
• The Value of Peripatetic Economists: A Sesqui-Difference Evalutaion of Bob Gregory
  Daniel S. Hamermesh #11453 (LS)
  
• The Effects of Taxes on Market Responses to Dividend Announcements and Payments: What Can We Learn from the 2003 Dividend Tax Cut?
  Raj Chetty, Joseph Rosenberg, and Emmanuel Saez #11452 (PE)
  
• Managerial Skill Acquisition and the Theory of Economic Development
  Paul Beaudry and Patrick Francois #11451 (EFG, LS)
  
• Biomedical Acadmic Entrepreneurship Through the SBIR Program
  Andrew A. Toole and Dirk Czarnitzki #11450 (PR, ENT)
  
• The 2003 Dividend Tax Cuts and the Value of the Firm: An Event Study
  Alan J. Auerbach and Kevin A. Hassett #11449 (PE)
  
• A Note on the Empirical Implementation of Lens Condition
  Andrew B. Bernard, Raymond Robertson, and Peter K. Schott #11448 (ITI)
  
• The Influence of University Research on Industrial Innovation
  Jinyoung Kim, Sangjoon John Lee, and Gerald Marshcke #11447 (PR)
  

  Chapters for Forthcoming NBER Books

  Comment by Janice Eberly on "The Rise in Firm-Level Volatility: Causes and Consequences"
  Diego Comin and Thomas Philippon
  Comment by Frederic S. Mishkin on "Current Account Reversals: Always a Problem?"
  Muge Adalet and Barry Eichengreen
  Comment by Edwin M. Truman on "Will The Euro Eventually Surpass the Dollar as Leading International Reserve Currency?"
  Menzie Chinn and Jeffrey Frankel
  "The Dot-Com Bubble, the Bush Deficits, and the U.S. Current Account"
  Aart Kraay and Jaume Ventura
  "Theory and Measurement: An Essay in Honor of Zvi Griliches"
  Charles R. Hulten
  "Technology Adoption from Hybrid Corn to Beta Blockers"
  Jonathan Skinner and Douglas Staiger
  "Technology and the Theory of Vintage Aggregation"
  Michael J. Harper
  "Information Technology and the G7 Economies"
  Dale W. Jorgenson
  "Different Approaches to Estimating Hedonic Indexes"
  Saeed Heravi and Mick Silver
  "What Really Happened to Consumption Inequality in the U.S.?"
  Orazio Attanasio, Erich Battistin and Hidehiko Ichimura
  "Downward Bias in the Most Important CPI Component: The Case of Rental Shelter, 1914-2003"
  Robert J. Gordon and Todd vanGoethem
  "International Comparisons of R&D Expenditure: Does and R&D PPP Make a Difference?"
  Sean M. Dougherty, Robert Inklaar, Robert H. McGuckin and Bart van Ark
  "The Role of Semiconductor Inputs in IT Hardware Price Decline: Computers vs. Communications"
  Ana Aizcorbe, Kenneth Flamm and Anjum Khurshid
  "Pricing at the On-ramp to the Internet: Price Indices for ISPs during the 1990s"
  Greg Stranger and Shane Greenstein
  "Shadow Sorting"
  Tito Boeri and Pietro Garibaldi
  "The Roots of Low European Employment: Family Culture?"
  Yann Algan and Pierre Cahuc
  "Dual Inflation and the Real Exchange Rate in New Open Economy Macroeconomics"
  Balázs Világi
  "Macroeconomic Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty, and Risk"
  Refet Gurkaynak and Justin Wolfers
  "Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic"
  Zsolt Darvas, Gyorgy Szapary, and Andrew Rose
  "Trade Invoicing in the Accession Countries: Are They Suited to the Euro?"
  Linda Goldberg

---

Week of June 20, 2005

Latest NBER Working Papers

• Health Insurance Reform and HMO Penetration in the Small Group Market
  Thomas C. Buchmueller #11446 (HC)
  
• Race, Income, and College in 25 Years: The Continuing Legacy of Segregation and Discrimination
  Alan Krueger, Jesse Rothstein, and Sarah Turner #11445 (ED, PE)
  
• Optimal Trading Strategy and Supply/Demand Dynamics
  Anna Obizhaeva and Jiang Wang #11444 (AP)
  
• The Growth of Executive Pay
  Lucian Bebchuk and Yaniv Grinstein #11443 (CF, LS)
  
• The Risks of Financial Institutions
  Mark Carey and Rene M. Stulz #11442 (AP, CF)
  
• Multifrequency News and Stock Returns
  Laurent E. Calvet and Adlai J. Fisher #11441 (AP, EFG)
  
• Wealth Transfers, Contagion, and Portfolio Constraints
  Anna Pavlova and Roberto Rigobon #11440 (IFM)
  
• Caught On Tape: Institutional Order Flow and Stock Returns
  John Y. Campbell, Tarun Ramadorai, and Tuomo O. Vuolteenaho #11439 (AG)
  
• The Incidence of Pollution Control Policies
  Ian W.H. Parry, Hilary Sigman, Margaret Walls, and Roberton C. Williams III #11438 (PE)
  
• Crafting A Class: The Trade Off Between Merit Scholarships and Enrolling Lower-Income Students
  Ronald G. Ehrenberg, Liang Zhang, and Jared Levin #11437 (ED, LS)
  
• Firms' Demand for Employment-Based Mental Health Benefits
  Judith Shinogle and David Salkever #11436 (HC)
  
• Age, Women, and Hiring: An Experimental Study
  Joanna Lahey #11435 (LS)
  
• Capital Controls, Exchange Rate Volatility and External Vulnerability
  Sebastian Edwards #11434 (IFM)
  
• Prenatal Drug Use and the Production of Infant Health
  Kelly Noonan, Nancy E. Reichaman, Hope Corman, and Dhaval Dave #11433 (HE)
  
• Regional Economic Development and Mexican Out-Migration
  Kurt Unger #11432 (ITI, LS)
  
• Generic Scrip Share and the Price of Brand-Name Drugs: The Role of the Consumer
  John A. Rizzo and Richard Zeckhauser #11431 (HC, IO)
  
• Sunk Costs and Real Options in Antitrust
  Robert S. Pindyck #11430 (IO)
  
• Establishing Credibility: The Role of Foreign Advisors
  Sebastian Edwards #11429 (IFM)
  
• Impacts of Policy Reforms on Labor Migration From Rural Mexico to the United States
  Susan M. Richter, J. Edward Taylor, and Antonio Naude #11428 (ITI, LS)
  

---

Week of June 13, 2005

Latest NBER Working Papers

• Two-Sample Instrumental Variables Estimators
  Atsushi Inoue and Gary Solon #T311 (TWP)
  
• A Portmanteau Test for Serially Correlated Errors in Fixed Effects Models
  Atsushi Inoue and Gary Solon #T310 (TWP)
  
• Death and the City: Chicago's Mortality Transition, 1850-1925
  Joseph P. Ferrie and Werner Troesken #11427 (DAE)
  
• Investor Competence, Trading Frequency, and Home Bias
  John R. Graham, Campbell R. Harvey, and Hai Huang #11426 (AP)
  
• Opportunities for Improving the Drug Development Process: Results from a Survey of Industry and the FDA
  Ernst R. Berndt and Adrian H. B. Gottschalk #11425 (HC, PR)
  
• Determinants of Vertical Integration: Finance, Contracts, and Regulation
  Daron Acemoglu, Simon Johnson, and Todd Mitton #11424 (CF, IO)
  
• Ethnic Identification, Intermarriage, and Unmeasured Progress by Mexican Americans
  Brian Duncan and Stephen J. Trejo #11423 (LS)
  
• Dating Business Cycle Turning Points
  Marcelle Chauvet and James D. Hamilton #11422 (EFG)
  
• Are Durable Goods Consumers Forward Looking? Evidence from College Textbooks
  Judith Chevalier and Austan Goolsbee #11421 (IO)
  
• Do Report Cards Tell Consumers Anything They Don't Already Know? The Case of Medicare HMOs
  Leemore S. Dafny and David Dranove #11420 (AG, HC)
  
• Can Ranking Hospitals on the Basis of Patients' Travel Distances Improve Quality of Care?
  Daniel P. Kessler #11419 (HC)
  
• International Outsourcing and Incomplete Contracts
  Barbara J. Spencer #11418 (ITI)
  
• Optimal Fiscal Policy in a Medium-Scale Macroeconomic Model: Expanded Version
  Stephanie Schmitt-Grohé and Martín Uribe #11417 (EFG, ME)
  
• Happiness and the Human Development Index: The Paradox of Australia
  David G. Blanchflower and Andrew J. Oswald #11416 (LS, BE)
  
• They Don't Invent Them Like They Used To: An Examination of Energy Patent Citations Over Time
  David Popp #11415 (PR)
  
• Zero Returns to Compulsory Schooling in Germany: Evidence and Interpretation
  Jörn-Steffen Pischke and Till von Wachter #11414 (LS)
  
• Liquidity and Expected Returns: Lessons From Emerging Markets
  Geert Bekaert, Campbell R. Harvey, and Christian Lundblad #11413 (AP)
  

  Chapters for Forthcoming NBER Books

  Comment by Peter B. Kenen on "The U.S. Trade Deficit: A Disaggregated Perspective"
  Catherine L. Mann and Katharina Plück
  "Are There Thresholds of Current Account Adjustment in the G7?"
  Richard H. Clarida, Manuela Goretti and Mark P. Taylor
  "From World Banker to World Venture Capitalist: The U.S. External Adjustment and the Exorbitant Privilege"
  Pierre-Olivier Gourinchas and Hélène Rey
  "A Global Perspective on External Positions"
  Philip R. Lane and Gian Maria Milesi-Ferretti
  "Current Accounts and Global Rebalancing in a Multi-Country Simulation Model"
  Hamid Faruqee, Douglas Laxton, Dirk Muir and Paolo Pesenti
  "Direct Investment, Rising Real Wages and the Absorption of Excess Labor in the Periphery"
  Michael P. Dooley, David Folkerts-Landau and Peter Garber
  Comment by Kristin Forbes on "The Unsustainable U.S. Current Account Position Revisited"
  Maurice Obstfeld and Kenneth Rogoff
  "Current Account Reversals: Always a Problem?"
  Muge Adalet and Barry Eichengreen
  "The U.S. Trade Deficit: A Disaggregated Perspective"
  Catherine L. Mann and Katharina Plück, and comments by Peter B. Kenen
  "Current Account Deficits in Industrial Countries: The Bigger They Are, The Harder They Fall?"
  Caroline Freund and Frank Warnock

---

Week of June 6, 2005

Latest NBER Working Papers

• The Method of Endogenous Gridpoints for Solving Dynamic Stochastic Optimization
  Christopher D. Carroll #T309 (TWP)
  
• Emigration, Labor Supply, and Earnings in Mexico
  Gordon H. Hanson #11412 (ITI, LS)
  
• The Impact of State Physical Education Requirements on Youth Physical Activity and Overweight
  John Cawley, Chad D. Meyerhoefer, and David Newhouse #11411 (HE)
  
• What Do Unions Do?: The 2004 M-Brane Stringtwister Edition
  Richard B. Freeman #11410 (LS)
  
• Employee Sentiment and Stock Option Compensation
  Nittai K. Bergman and Dirk Jenter #11409 (CF)
  
• Inequality, Social Discounting and Estate Taxation
  Emmanuel Farhi and Ivan Werning #11408 (EFG, PE)
  
• Tying, Upgrades, and Switching Costs in Durable-Goods Markets
  Dennis W. Carlton and Michael Waldman #11407 (IO)
  
• Alternative Methods of Price Indexing Social Security: Implications for Benefits and System Financing
  Andrew G. Biggs, Jeffrey R. Brown, and Glenn Springstead #11406 (AG, PE)
  
• The Value of Health and Longevity
  Kevin M. Murphy and Robert H. Topel #11405 (EFG, HE, LS)
  
• Importers, Exporters, and Multinationals: A Portrait of Firms in the U.S. that Trade Goods
  Andrew B. Bernard, J. Bradford Jensen, and Peter K. Schott #11404 (ITI)
  
• FDI and Trade - Two Way Linkages?
  Joshua Aizenman and Ilan Noy #11403 (ITI)
  
• Efficient Kidney Exchange: Coincidence of Wants in a Structured Market
  Alvin E. Roth, Tayfun Sonmez, and M. Utku Unver #11402 (HE)
  
• Real Business Cycle Models: Past, Present, and Future
  Sergio Rebelo #11401 (EFG)
  
• Investor Attention, Overconfidence and Category Learning
  Lin Peng and Wei Xiong #11400 (AP)
  
• Corruption, Inequality and Fairness
  Alberto Alesina and George-Marios Angeletos #11399 (PE)
  
• Urban Colossus: Why is New York America's Largest City?
  Edward L. Glaeser #11398 (EFG)
  
• Equilibrium Impotence: Why the States and Not the American National Government Financed
  John Joseph Wallis and Barry R. Weingast #11397 (DAE, PE)
  
• Party Discipline and Pork-Barrel Politics
  Gene M. Grossman and Elhanan Helpman #11396 (IFM, ITI, PE)
  

  Chapters for Forthcoming NBER Books

  "Publications, Patents, and the Market for University Inventions"
  Daniel W. Elfenbein
  "Biomedical Academic Entrepreneurship Through the SBIR Program"
  Andrew A. Toole and Dirk Czarnitzki
  "University Invention, Entrepreneurship, and Start-Ups"
  Celestine O. Chukumba and Richard A. Jensen
  "The Effects of Patent Litigation on University Licensing Efforts"
  Scott Shane and Deepak Somaya
  "The Role of Patents for Bridging the Science to Market Gap"
  Thomas Hellmann
  "Early Academic Science and the Birth of Industrial Research Laboratories in the U.S. Pharmaceutical Industry"
  Megan MacGarvie and Jeffrey L. Furman
  "The Influence of University Research on Industrial Innovation"
  Jinyoung Kim, Sangjoon John Lee and Gerald Marschke
  "The Determinants of Faculty Patenting Behavior: Demographics or Opportunities?"
  Pierre Azoulay, Waverly Ding and Toby Stuart
  "Are there Real Effects of Licensing on Academic Research? A Life Cycle View"
  Marie Thursby, Jerry Thursby and Swastika Mukherjee
  "Do Formal Intellectual Property Rights Hinder the Free Flow of Scientific Knowledge? An Empirical Test of the Anti-Commons Hypothesis"
  Fiona Murray and Scott Stern
  "The Unsustainable U.S. Current Account Position Revisited"
  Maurice Obstfeld and Kenneth Rogoff, and comments by Kristin Forbes
  "Will The Euro Eventually Surpass the Dollar as Leading International Reserve Currency?"
  Menzie Chinn and Jeffrey Frankel

---

Week of May 30, 2005

Latest NBER Working Papers

• A, B, C's (and D)'s for Understanding VARs
  Jesús Fernández-Villaverde, Juan Rubio-Ramirez, and Thomas J. Sargent #T308 (TWP)
  
• Price and the Health Plan Choices of Retirees
  Thomas C. Buchmueller #11395 (HE)
  
• Evaluating the Role of Brown vs. Board of Education in School Equalization, Desgregation, and the Income of African Americans
  Orley Ashenfelter, William J. Collins, and Albert Yoon #11394 (ED, LS)
  
• Market Size, Trade, and Productivity
  Marc J. Melitz and Gianmarco I. P. Ottaviano #11393 (ITI)
  
• Optimal Policy Projections
  Lars E. O. Svensson and Robert J. Tetlow #11392 (EFG, IFM, ME)
  
• Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies
  Viral V. Acharya, Heitor Almeida, and Murillo Campello #11391 (CF)
  
• Assigning Deviant Youths to Minimize Total Harm
  Philip J. Cook and Jens Ludwig #11390 (HE, CH)
  
• Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns
  John Y. Campbell, Christopher Polk, and Tuomo Vuolteenaho #11389 (AP)
  

  Chapters for Forthcoming NBER Books

  Comment by Toshiki Jinushi on "Deflation and Monetary Policy in Taiwan"
  Ya-Hwei Yang and Jia-Dong Shea
  "Blueprint for Expanded and Integrated U.S. Accounts: Review, Assessment, and Next Steps"
  Dale W. Jorgenson and J. Steven Landefeld
  "Monetary Policy Under Uncertainty in Micro-Founded Macroeconomic Models"
  Andrew T. Levin, Alexei Onatski, John C. Williams and Noah Williams
  "A Bayesian Look at New Open Economy Macroeconomics"
  Thomas Lubik and Frank Schorfheide
  "The Rise in Firm-Level Volatility: Causes and Consequences"
  Diego Comin and Thomas Philippon
  "Work and Leisure in the U.S. and Europe: Why So Different?"
  Alberto Alesina, Edward Glaeser and Bruce Sacerdote
  "Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model"
  Stephanie Schmitt-Grohé and Martin Uribe
  "Job Loss, Job Finding and Unemployment in the U.S. Economy over the Past 50 Years"
  Robert E. Hall

---

Week of May 23, 2005

Latest NBER Working Papers

• The Rise in Firm-Level Volatility: Causes and Consequences
  Diego Comin and Thomas Philippon #11388 (EFG)
  
• India's Experience with Capital Flows: The Elusive Quest for a Sustainable Current Account Deficit
  Ajay Shah and Ila Patnaik #11387 (IFM)
  
• A General Formula for the Optimal Level of Social Insurance
  Raj Chetty #11386 (LS, PE)
  
• Venture Capital Investment Cycles: The Impact of Public Markets
  Paul Gompers, Anna Kovner, Josh Lerner, and David Scharfstein #11385 (PR, AP, CH)
  
• Incomes in South Africa Since the Fall of Apartheid
  Murray Leibbrandt, James Levinsohn, and Justin McCrary #11384 (ITI, LS)
  
• Historical Perspective on Global Imbalances
  Michael D. Bordo #11383 (DAE, ME)
  
• International Borrowing, Capital Controls and the Exchange Rate: Lessons from Chile
  Kevin Cowan and Jose De Gregorio #11382 (IFM)
  
• South Korea's Experience with International Capital Flows
  Marcus Noland #11381 (IFM)
  
• Ultra High Frequency Volatility Estimation with Dependent Microstructure Noise
  Yacine Ait-Sahalia, Per A. Mykland, and Lan Zhang #11380 (AP)
  
• Hospital Integration and Vertical Consolidation: An Analysis of Acquisitions in New York State
  Robert S. Huckman #11379 (HE)
  
• An Investigation of the Effects of Alcohol Consumption and Alcohol Policies on Youth Risky Sexual Behaviors
  Sara Markowitz, Robert Kaestner, and Michael Grossman #11378 (HE, CH)
  
• Religious Market Structure, Religious Participation, and Outcomes: Is Religion Good For You?
  Jonathan Gruber #11377 (LS, PE)
  
• Does Corporate Ownership Matter? Service Provision in the Hospital Industry
  Jill R. Horwitz #11376 (HE)
  
• A Simple Scheme to Improve the Efficiency of Referenda
  Alessandra Casella and Andrew Gelman #11375 (PE)
  
• Fiscal Remedies for Japan's Slump
  Laurence Ball #11374 (EFG, ME, PE)
  
• Productivity, Efficiency, Scale Economies and Technical Change: A New Decomposition Analysis of TFP Applied to the Japanese Prefectures
  Jiro Nemota and Mika Goto #11373 (PR)
  
• The Microeconomic Evidence on Capital Controls: No Free Lunch
  Kristin J. Forbes #11372 (IFM)
  
• Lobbying Competition Over US Trade Policy
  Kishore Gawande and Pravin Krishna #11371 (ITI)
  
• What Matters for Financial Development? Capital Controls, Institutions, and Interactions
  Menzie D. Chinn and Hiro Ito #11370 (IFM)
  
• Capital Flows and Exchange Rate Volatility: Singapore's Experience
  Basant K. Kapur #11369 (IFM)
  
• A Theory of Pyramidal Ownership and Family Business Groups
  Hietor Almeida and Daniel Wolfenzon #11368 (CF)
  

---

Week of May 16, 2005

Latest NBER Working Papers

• Asset Float and Speculative Bubbles
  Harrison Hong, Jose Scheinkman, and Wei Xiong #11367 (AP)
  
• International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence
  Joshua Aizenman and Jaewoo Lee #11366 (IFM, ITI)
  
• The International Exposure of U.S. Banks
  Linda S. Goldberg #11365 (IFM)
  
• Eat or Be Eaten: A Theory of Mergers and Merger Waves
  Gary Gorton, Matthias Kahl, and Richard Rosen #11364 (CF)
  
• Bank Credit Cycles
  Gary Gorton and Ping He #11363 (CF, ME)
  
• Speculative Trading and Stock Prices: Evidence from Chinese A-B Share Premia
  Jianping Mei, Jose Scheinkman, and Wei Xiong #11362 (AP)
  
• Optimism and Economic Choice
  Manju Puri and David Robinson #11361 (AP, CF)
  
• The Burden of Knowledge and the ‘Death of the Renaissance Man': Is Innovation Getting Harder?
  Benjamin F. Jones #11360 (PR)
  
• Age and Great Invention
  Benjamin F. Jones #11359 (PR)
  
• A Proposed Method for Monitoring U.S. Population Health: Linking Symptoms, Impairments, Chronic Conditions, and Health Ratings
  Susan T. Stewart, Rebecca M. Woodward, and David M. Cutler #11358 (HE)
  
• Asset Fire Sales (and Purchases) in Equity Markets
  Joshua D. Coval and Erik Stafford #11357 (AP)
  
• Contracts and the Division of Labor
  Daron Acemoglu, Pol Antras, and Elhanan Helpman #11356 (EFG, PR)
  
• The Opium Wars, Opium Legalization, and Opium Consumption in China
  Jeffrey A. Miron and Chris Feige #11355 (HE, ITI)
  
• The Sources of the Productivity Rebound and the Manufacturing Employment Puzzle
  William Nordhaus #11354 (EFG, PR)
  
• International Borrowing and Macroeconomic Performance in Argentina
  Kathryn M.E. Dominguez and Linda L. Tesar #11353 (IFM)
  
• Studying Texts: A Gemara of the Israeli Economy
  Michael W. Klein #11352 (EFG, IFM, ITI)
  
• Monopoly-Creating Bank Consolidation? The Merger of Fleet and BankBoston
  Charles W. Calomiris and Thanavut Pornrojnangkool #11351 (IO)
  
• Venture Capital as Human Resource Management
  Antonio Gledson de Carvalho, Charles W. Calomiris, and Joao Amaro de Matos #11350 (CF, DAE, LS)
  
• Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment
  Philippe Aghion, George-Marios Angeletos, Abhijit Banerjee, and Kalina Manova #11349 (EFG)
  
• The Determinants of Faculty Patenting Behavior: Demographics or Opportunities
  Pierre Azoulay, Waverly Ding, and Toby Stuart #11348 (PR)
  
• School Quality, Neighborhoods and Housing Prices: The Impacts of School Desegregation
  Thomas J. Kane, Douglas O. Stiager, and Stephanie K. Riegg #11347 (ED, LS)
  
• What Remains from the Volcker Experiment?
  Benjamin M. Friedman #11346 (ME)
  
• Adjustment in Property Space Markets: Estimates from the Stockholm Office Market
  Peter Englund, Ake Gunnelin, Patric H. Hendershott, and Bo Soderberg #11345 (AP)
  
• The Worldwide Economic Impact of the Revolutionary and Napoleonic Wars
  Kevin H. O'Rourke #11344 (DAE)
  
• Gender, Body Mass and Economic Status
  Dalton Conley and Rebecca Glauber #11343 (HE)
  

---

Week of May 9, 2005

Latest NBER Working Papers

• The Effects of Living Wage Laws: Evidence from Failed and Derailed Living Wage Campaigns
  Scott Adams and David Neumark #11342 (LS)
  
• The Simple Geometry of Transmission and Stabilization in Closed and Open Economies
  Giancarlo Corsetti and Paolo Pesenti #11341 (IFM)
  
• New-Keynesian Macroeconomics and the Term Structure
  Geert Bekaert, Seonghoon Cho, and Antonio Moreno #11340 (ME, AP)
  
• Trade Responses to Geographic Frictions: A Decomposition Using Micro-Data
  Russell Hillberry and David Hummels #11339 (ITI)
  
• The Wage Curve Reloaded
  David G. Blanchflower and Andrew J. Oswald #11338 (LS)
  
• Adolescent Drinking and High School Dropout
  Pinka Chatteji and Jeff DeSimone #11337 (HE, CH)
  
• Sterling's Past, Dollar's Future: Historical Perspective on Reserve Currency Competition
  Barry Eichengreen #11336 (DAE, ITI)
  
• Is China's FDI Coming at the Expense of Other Countries?
  Barry Eichengreen and Hui Tong #11335 (ITI)
  
• An Empirical Analysis of ‘Acting White'
  Roland G. Fryer, Jr. and Paul Torelli #11334 (LS)
  
• Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts
  Charles W. Calomiris and Donna M. Hitscherich #11333 (CF)
  
• Faith-Based Charity and Crowd Out During the Great Depression
  Jonathan Gruber and Daniel M. Hungerman #11332 (AG, HE, PE)
  

---

Week of May 2, 2005

Latest NBER Working Papers

• Threshold Crossing Models and Bounds on Treatment Effects: A Nonparametric Analysis
  Azeem Shaikh and Edward Vytlacil #T307 (TWP)
  
• Interpreting the Evidence on Life Cycle Skill Formation
  Flavio Cunha, James J. Heckman, Lance Lochner, and Dimitriy V. Masterov #11331 (ED, LS, CH)
  
• The Role of Collateralized Household Debt in Macroeconomic Stabilization
  Jeffrey R. Campbell and Zvi Hercowitz #11330 (EFG)
  
• Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique
  Patric H. Hendershott, Robert J. Hendershott, and Bryan D. MacGregor #11329 (AP, PE)
  
• Myopic Matrimony and Dropout Decisions: Evidence Using State Laws for Marriage, Schooling, and Work
  Gordon B. Dahl #11328 (LS, CH)
  
• Forsaking All Others? The Effects of "Gay Marriage" on Risky Sex
  Thomas S. Dee #11327 (HE)
  
• The Value Spread as a Predictor of Returns
  Naiping Liu and Lu Zhang #11326 (AP)
  
• Addressing the Needs of Under-Prepared Students in Higher Education: Does College Remediation Work?
  Eric P. Bettinger and Bridget Terry Long #11325 (ED)
  
• The End of American Exceptionalism? Mobility in the U.S. Since 1850
  Joseph P. Ferrie #11324 (DAE, LS)
  
• Expected Returns, Yield Spreads, and Asset Pricing Tests
  Murillo Campbello, Long Chen, and Lu Zhang #11323 (AP)
  
• Anomalies
  Lu Zhang #11322 (AP)
  
• Patents, Price Controls and Access to New Drugs: How Policy Affects Global Market Entry
  Jean O. Lanjouw #11321 (PR)
  
• Sibling Similarity and Difference in Socioeconomic Status: Life Course and Family Resource Effects
  Dalton Conley and Rebecca Glauber #11320 (HE, LS)
  
• Volatility in an Era of Reduced Uncertainty: Lessons from Pax Britannica
  William O. Brown, Richard C. K. Burdekin, and Marc D. Weidenmier #11319 (DAE, AP)
  
• Measuring the Impact of Crack Cocaine
  Roland G. Fryer, Paul S. Heaton, Steven D. Levitt, and Kevin M. Murphy #11318 (HE, LS, LE, CH)
  
• Judicial Lobbying: The Politics of Labor Law Constitutional Interpretation
  Matias Iaryczower, Pablo Spiller, and Mariano Tommasi #11317 (LE)
  
• The Determinants of the Willingness to be an Organ Donor
  Naci Mocan and Erdal Tekin #11316 (HE)
  
• Employee-Cost Sharing and the Welfare Effects of Flexible Spending Accounts
  William Jack, Arik Levinson and Sjamsu Rahardja #11315 (HE, PE)
  
• Has US Monetary Policy Changed? Evidence from Drifting Coefficients and Real-Time Data
  Jean Boivin #11314 (ME)
  
• Measuring and Interpreting Expectations of Equity Returns
  Jeff Dominitz and Charles F. Manski #11313 (EFG)
  
• Real-Time Price Discovery in Stock, Bond and Foreign Exchange Markets
  Torben G. Andersen, Tim Bollerslev, Francis X. Diebold, and Clara Vega #11312 (AP)
  
• The General Equilibrium Incidence of Environmental Taxes
  Don Fullerton and Garth Heutel #11311 (PE)
  
• Rare Events and the Equity Premium
  Robert J. Barro #11310 (EFG, ME, AP)
  
• Does Voting technology Affect Election Outcomes? Touch-screen Voting and the 2004 Presidential Election
  David Card and Enrico Moretti #11309 (LS)
  

---

Week of April 25, 2005

Latest NBER Working Papers

• The Great Escape: A Review Essay on Fogel's "The Escape from Hunger and Premature Death, 1700-2100"
  Angus Deaton #11308 (AG, HE, CH)
  
• Measuring the Implications of Sales and Consumer Inventory Behavior
  Igal Hendel and Aviv Nevo #11307 (IO)
  
• The Chinese Approach to Capital Inflows: Patterns and Possible Explanations
  Eswar Prasad and Shang-Jin Wei #11306 (IFM, ITI)
  
• Crises in Emerging Market Economies: A Global Perspective
  Guillermo A. Calvo #11305 (IFM)
  
• Employment-Contingent Health Insurance, Illness, and Labor Supply of Women: Evidence from Married Women with Breast Cancer
  Cathy J. Bradley, David Neumark, Zhehui Luo, and Heather L. Benarek #11304 (HE, LS)
  
• The Incidence of the Healthcare Costs of Obesity
  Jay Bhattacharya and M. Kate Bundorf #11303 (HE, LS)
  
• Parental Educational Investment and Children's Academic Risk: Estimates of the Impact of Sibship Size and Birth Order from Exogenous Variation in Fertility
  Dalton Conley and Rebecca Glauber #11302 (ED, HE, CH)
  
• Net Capital Flows and Productivity: Evidence from U.S. States
  Sebnem Kalemli-Ozcan, Ariell Reshef, Bent E. Sorensen, and Oved Yosha #11301 (IFM, ITI)
  
• The Life-Cycle Personal Accounts Proposal for Social Security: A Review
  Robert J. Shiller #11300 (EFG, AG, PE)
  
• A Review of the Empirical Literature on FDI Determinants
  Bruce A. Blonigen #11299 (ITI)
  
• From the Webbs to the Web: the Contribution of the Internet to Reviving Union Fortunes
  Richard B. Freeman #11298 (LS)
  
• The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuations
  Ricardo Reis #11297 (EFG, ME)
  
• A Global View of Economic Growth
  Jaume Ventura #11296 (EFG, ITI)
  
• Is the Melting Pot Still Hot? Explaining the Resurgence of Immigrant Segregation
  David M. Cutler, Edward L. Glaeser, and Jacob L. Vigdor #11295 (DAE, LS)
  
• Why Do Public Firms Issue Private and Public Securities?
  Armando Gomes and Gordon Phillips #11294 (CF)
  
• A Quantitative Model of Sudden Stops and External Liquidity Management
  Ricardo J. Caballero and Stavros Panageas #11293 (EFG, IFM)
  
• Contractibility and the Design of Research Agreements
  Josh Lerner and Ulrike Malmendier #11292 (CF, PR)
  
• Branch Banking, Bank Competition, and Financial Stability
  Mark Carlson and Kris James Mitchener #11291 (DAE, ME)
  
• Social Security Programs and Retirement around the World: Fiscal Implications, Introduction and Summary
  Jonathan Gruber and David Wise #11290 (AG, PE)
  
• My Policies or Yours: Have OECD Agricultural Policies Affected Incomes in Developing Countries
  Nava Ashraf, Margaret McMillan, and Alix Peterson Zwane #11289 (ITI)
  
• Advanced Purchase Commitments for a Malaria Vaccine: Estimating Costs and Effectiveness
  Ernst R. Berndt, Rachel Glennerster, Michael R. Kremer, Jean Lee, Ruth Levine, Georg Weizsacker, and Heidi Williams #11288 (HE, PR)
  
• Lucky Stores, Gambling, and Addiction: Empirical Evidence from State Lottery Sales
  Jonathan Guryan and Melissa S. Kearney #11287 (PE)
  
• Labour Market Institutions Without Blinders: The Debate over Flexibility and Labour Market Performance
  Richard B. Freeman #11286 (LS)
  
• Understanding and Comparing Factor-Based Forecasts
  Jean Boivin and Serena Ng #11285 (EFG, ME)
  
• Contracts, Holdup, and Legal Intervention
  Steven Shavell #11284 (LE)
  
• Conditional Policies in General Equilibrium
  Kala Krishna #11283 (ITI)
  

Week of April 18, 2005

Latest NBER Working Papers

• Structural Equations, Treatment Effects and Econometric Policy Evaluation
  James J. Heckman and Edward Vytlacil #T306 (TWP)
  
• Rockonomics: The Economics of Popular Music
  Marie Connolly and Alan B. Krueger #11282 (IO, LS)
  
• The Evolution of the Mexican-Born Workforce in the United States
  George J. Borjas and Lawrence F. Katz #11281 (LS)
  
• Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
  Mitchell A. Petersen #11280 (AP, CF)
  
• The Impact of Family Income on Child Achievement
  Gordon B. Dahl and Lance Lochner #11279 (CH. LS, PE)
  
• Work and Leisure in the U.S. and Europe: Why So Different?
  Alberto Alesina, Edward Glaeser, and Bruce Sacerdote #11278 (EFG, LS, PE)
  
• Boys Named Sue: Disruptive Children and their Peers
  David N. Figlio #11277 (CF, EFG)
  
• Taylor Rules, McCallum Rules and the Term Structure of Interest Rates
  Michael F. Gallmeyer, Burton Hollifield, and Stanley E. Zin #11276 (AP, ME)
  
• Politics and Economics in Weak and Strong States
  Daron Acemuglu #11275 (EFG)
  
• On the Renminbi: The Choice between Adjustment under a Fixed Exchange Rate and Adjustment under a Flexible Rate
  Jeffrey Frankel #11274 (IFM)
  

---

Week of April 11, 2005

Latest NBER Working Papers

• Pork for Policy: Executive and Legislative Exchange in Brazil
  Lee J. Alston and Bernardo Mueller #11273 (IFM)
  
• Effective Exchange Rate Classifications and Growth
  Justin M. Dubas, Byung-Joo Lee, and Nelson C. Mark #11272 (IFM)
  
• Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities
  Ivica Dus, Raimond Maurer, and Olivia S. Mitchell #11271 (AG, LS)
  
• Overconfidence vs. Market Efficiency in the National Football League
  Cade Massey and Richard H. Thaler #11270 (AP, CF, LS)
  
• Protection for Sale with Imperfect Rent Capturing
  Giovanni Facchini, Johannes Van Biesebroeck, and Gerald Willman #11269 (ITI, PR)
  
• Culture: An Empirical Investigation of Beliefs, Work, and Fertility
  Raquel Fernandez and Alessandra Fogli #11268 (EFG, LS)
  
• Tax Structure in Developing Countries: Many Puzzles and a Possible Explanation
  Roger Gordon and Wei Li #11267 (PE)
  
• British Investment Overseas 1870-1913: A Modern Portfolio Theory Approach
  William N. Goetzmann and Andrey D. Ukhov #11266 (AP, IFM, PR)
  
• The Evolution of Precedent
  Nicola Gennaioli and Andrei Shleifer #11265 (LE)
  
• An Alternative Test of Racial Prejudice in Motor Vehicle Searches
  Shamena Anwar and Hanming Fang #11264 (PE)
  
• Treatment Effect Bounds: An Application to Swan-Ganz Catherization
  Jay Bhattacharya, Azeeem Shaikh, and Edward Vytlacil #11263 (HC)
  
• Urban Structure and Growth
  Esteban Rossi-Hansberg and Mark L.J. Wright #11262 (EFG)
  
• Firm Dynamics in the Aggregate Economy
  Esteban Rossi-Hansberg and Mark L.J. Wright #11261 (EFG)
  

---

Week of April 4, 2005

Latest NBER Working Papers

• School-to-Career and Post-Secondary Education: Evidence from the Philadelphia Educational Longitudinal Study
  Frank F. Furstenberg, Jr. and David Neumark #11256 (CF)
  
• Structural Equations, Treatment Effects and Econometric Policy Evaluation
  James J. Heckman and Edward Vytlacil #11257 (EFG)
  
• On the Measurement of Segregation
  Federico Echenique and Roland G. Fryer, Jr. #11258 (ED, LS)
  
• Prices, Production and Inventories over the Automotive Model Year
  Adam Copeland, Wendy Dunn, and George Hall #11259 (ED, LS, PE, CH)
  
• How Has Financial Modernization Affected Corporate Customers?
  Kenneth A. Carow, Edward J. Kane, and Rajesh P. Narayanan #11260 (ED, LS, CH)
  

---

---

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.

---