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New This Week Archive

NBER Working Papers released in the past, by week.

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Week of June 25, 1999

• Education for Growth in Sweden and the World
  Alan B. Krueger and Mikael Lindahl #7190 (C, LS)
  
• Ethnic Chinese Networks in International Trade
  James E. Rauch and Vitor Trindade #7189 (ITI)
  
• The Employment, Earnings, and Income of Less Skilled Workers Over the Business Cycle
  Hilary Hoynes #7188 (LS)
  
• California Banking in the Nineteenth Century: The Art and Method of the Bank of A. Levy
  Eugene N. White #7187 (DAE)
  
• Was Adherence to the Gold Standard a "Good Housekeeping Seal of Approval" During the Interwar Period?
  Michael Bordo, Michael Edelstein, and Hugh Rockoff #7186 (DAE, ME)
  
• Information and Competition in U.S. Forest Service Timber Auctions
  Susan Athey and Jonathan Levin #7185 (IO)
  
• Minimum Wages and On-the-job Training
  Daron Acemoglu and Jörn-Steffen Pischke #7184 (LS)
  
• Simulating the Transmission of Wealth Inequality via Bequests
  Jagadeesh Gokhale, Laurence J. Kotlikoff, James Sefton, and Martin Weale #7183 (PE)
  
• Trends in Self-Employment Among White and Black Men: 1910-1990
  Robert W. Fairlie and Bruce D. Meyer #7182 (LS)
  
• Reorganization
  Robert E. Hall #7181 (EFG, P)
  
• The Stock Market and Capital Accumulation
  Robert E. Hall #7180 (EFG, P)
  
• Eurosystem Monetary Targeting: Lessons from U.S. Data
  Glenn D. Rudebusch and Lars E.O. Svensson #7179 (ME)
  
• Does the P* Model Provide Any Rationale for Monetary Targeting?
  Lars E.O. Svensson #7178 (ME)
  
• Monetary Policy Issues for the Eurosystem
  Lars E.O. Svensson #7177 (IFM, ME)
  
• The Anatomy of Health Insurance
  David M. Cutler and Richard J. Zeckhauser #7176 (A, HC, PE)
  
• Corporate Focusing and Internal Capital Markets
  Frederik P. Schlingemann, René M. Stulz, and Ralph A. Walkling #7175 (CF)
  
• Employer Provided Pension Data In The NLS Mature Women's Survey And In The Health And Retirement Study
  Alan L. Gustman and Thomas L. Steinmeier #7174 (LS, A)
  
• The Impact of Fiscal Incentives on Student Disability Rates
  Julie Berry Cullen #7173 (C, PE)
  
• Who Benefits from Obtaining a GED? Evidence from High School and Beyond
  Richard J. Murnane, John B. Willett, and John H. Tyler #7172 (LS, C)
  
• The Employment Effects of Recent Minimum Wage Increases: Evidence from a Pre-specified Research Design
  David Neumark #7171 (LS)
  
• Portfolio Advice for a Multifactor World
  John H. Cochrane #7170 (AP, EFG)
  
• New Facts in Finance
  John H. Cochrane #7169 (AP, EFG)
  

Week of June 18, 1999

• Selection Effects in the Market for Individual Annuities: New Evidence from the United Kingdom
  Amy Finkelstein and James Poterba #7168 (A, PE)
  
• Dress for Success -- Does Primping Pay?
  Daniel S. Hamermesh, Xin Meng and Junsen Zhang #7167 (LS)
  
• The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data
  Jens Ludwig and Philip J. Cook #7166 (HC)
  
• Sticky Prices, Coordination and Collusion
  John C. Driscoll and Harumi Ito #7165 (ME)
  
• Discriminating Among Alternative Theories of the Multinational Enterprise
  James R. Markusen and Keith E. Maskus #7164 (ITI)
  
• Multinational Firms: Reconciling Theory and Evidence
  James R. Markusen and Keith E. Maskus #7163 (ITI)
  
• Asset Pricing Models: Implications for Expected Returns and Portfolio Selection
  A. Craig MacKinlay and Lubos Pastor #7162 (AP)
  
• Central Bank Credibility: Why Do We Care? How Do We Build It?
  Alan S. Blinder #7161 (EFG, ME)
  
• Designing Indexed Units of Account
  Robert J. Shiller #7160 (EFG, ME)
  
• Profitability of Momentum Strategies: An Evaluation of Alternative Explanations
  Narasimhan Jegadeesh and Sheridan Titman #7159 (AP, CF)
  
• Conflicts and Common Interests in Committees
  Li, Hao, Sherwin Rosen, and Wing Suen #7158 (IO, LS)
  
• An International Dynamic Asset Pricing Model
  Robert J. Hodrick, David Tat-Chee Ng, and Paul Sengmueller #7157 (AP, IFM)
  
• How Offshore Financial Competition Disciplines Exit Resistance by Incentive-Conflicted Bank Regulators
  Edward J. Kane #7156 (CF)
  
• Participation in Heterogeneous Communities
  Alberto Alesina and Eliana La Ferrara #7155 (PE)
  
• In Search of Substitution Between Foreign Production and Exports
  Bruce A. Blonigen #7154 (IFM)
  
• Rational Contagion and the Globalization of Securities Markets
  Guillermo A. Calvo and Enrique G. Mendoza #7153 (ITI)
  
• The Equilibrium Degree of Transparency and Control in Monetary Policy
  Jon Faust and Lars E.O. Svensson #7152 (ME)
  
• Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism
  Stephen G. Cecchetti #7151 (ME)
  
• Capital Mobility, Distributive Conflict and International Tax Coordination
  Dani Rodrik and Tanguy van Ypersele #7150 (IFM, ITI, PE)
  

Week of June 4, 1999

• Patterns of Trade in the Market for Used Durables: Theory and Evidence
  Robert H. Porter and Peter Sattler #7149 (IO)
  
• American Living Standards: Evidence from Recreational Expenditures
  Dora L. Costa #7148 (DAE)
  
• The Science of Monetary Policy: A New Keynesian Perspective
  Richard Clarida, Jordi Gali, and Mark Gertler #7147 (ME, EFG)
  
• The Impact of Globalization on Pre-Industrial, Technologically Quiescent Economies: Real Wages, Relative Factor Prices and Commodity Price Convergence in the Third World Before 1940
  Jeffrey G. Williamson #7146 (EFG, ITI, DAE)
  
• Capital Goods Prices, Global Capital Markets and Accumulation: 1870-1950
  William J. Collins and Jeffrey G. Williamson #7145 (EFG, ITI, DAE)
  
• Dispersion and Volatility in Stock Returns: An Empirical Investigation
  John Y. Campbell and Martin Lettau #7144 (AP)
  
• Hedging and Financial Fragility in Fixed Exchange Rate Regimes
  Craig Burnside, Martin Eichenbaum, and Sergio Rebelo #7143 (EFG, ME, IFM)
  
• The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements: Theory and Evidence
  Gary D. Libecap and James L. Smith #7142 (IO)
  
• Inequalities in Income and Inequalities in Health
  Angus Deaton #7141 (HC, A)
  
• Mortality, Education, Income, and Inequality among American Cohorts
  Angus Deaton and Christina Paxson #7140 (HC, A)
  
• Common Fundamentals in the Tequila and Asian Crises
  Aaron Tornell #7139 (IFM)
  
• The Retirement Behavior of Married Couples: Evidence From the Spouse's Allowance
  Michael Baker #7138 (A, PE)
  
• The Nominal Rigidity of Apartment Rents
  David Genesove #7137 (IO)
  
• Information Technology, Workplace Organization and the Demand for Skilled Labor: Firm-level Evidence
  Timothy F. Bresnahan, Erik Brynjolfsson, and Lorin M. Hitt #7136 (IO, P)
  

Week of May 28, 1999

• Exporting and Productivity
  Andrew B. Bernard and Bradford Jensen #7135 (PR, ITI)
  
• Capital Flows in Asia
  Takatoshi Ito #7134 (IFM)
  
• Offshore Investment Funds: Monsters in Emerging Markets?
  Woochan Kim and Shan-Jin Wei #7133 (IFM)
  
• Tax and Education Policy in a Heterogeneous Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency?
  Roland Bénabou #7132 (EFG, PE)
  
• Evaluating the Effect of an Antidiscrimination Law using a Regression-Discontinuity Design
  Jinyong Hahn, Petra Todd, and Wilbert Van der Klaauw #7131 (LS)
  
• The Effect of Alcohol Prohibition on Alcohol Consumption
  Jeffrey A. Miron #7130 (HE)
  
• Alcohol Regulation and Violence on College Campuses
  Michael Grossman and Sara Markowitz #7129 (HE)
  
• Determinants of Non-employment and Unemployment Durations in East Germany
  Jennifer Hunt #7128 (LS)
  
• Learning and Forgetting: The Dynamics of Aircraft Production
  C. Lanier Benkard #7127 (PR)
  
• The Returns to Skill in the United States across the Twentieth Century
  Claudia Goldin and Lawrence F. Katz #7126 (DAE, LS)
  
• Was Expansionary Monetary Policy Feasible During the Great Contraction? An Examination of the Gold Standard Constraint
  Michael D. Bordo, Ehsan U. Choudhri, and Anna J. Schwartz #7125 (ME)
  
• Statistical Treatment Rules for Heterogeneous Populations: With Application to Randomized Experiments
  Charles F. Manski #T0242
  

Week of May 21, 1999

• Executive Compensation: Six Questions that Need Answering
  John M. Abowd and David S. Kaplan #7124 (LS)
  
• Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers
  Gary Gorton and Matthias Kahl #7123 (CF)
  
• Age and the Quality of Work: The Case of Modern American Painters
  David W. Galenson and Bruce A. Weinberg #7122 (LS)
  
• Education and Social Capital
  John F. Helliwell and Robert D. Putnam #7121 (LE)
  
• Urban Development in the United States, 1690-1990
  Sukkoo Kim #7120 (DAE)
  
• Social Security in Theory and Practice (II): Efficiency Theories, Narrative Theories, and Implications for Reform
  Casey B. Mulligan and Xavier Sala-i-Martin #7119 (AG, PE)
  
• Social Security in Theory and Practice (I): Facts and Political Theories
  Casey B. Mulligan and Xavier Sala-i-Martin #7118 (AG, PE)
  
• Gerontocracy, Retirement, and Social Security
  Casey B. Mulligan and Xavier Sala-i-Martin #7117 (AG, PE)
  
• Microfoundations and Macro Implications of Indivisible Labor
  Casey B. Mulligan #7116 (ME, PE)
  
• Understanding the "Problem of Economic Development": The Role of Factor Mobility and International Taxation
  Assaf Razin and Chi-Wa Yuen #7115 (IFM, PE)
  
• State Drug Control Spending and Illicit Drug Participation
  Henry Saffer and Frank Chaloupka #7114 (HE)
  
• Lending Booms, Reserves and the Sustainability of Short-Term Debt: Inferences from the Pricing of Syndicated Bank Loans
  Barry Eichengreen and Ashoka Mody #7113 (IFM, ME)
  
• When to Control for Covariates? Panel-Asymptotic Results for Estimates of Treatment Effects
  Joshua D. Angrist and Jinyong Hahn #T0241
  

Week of May 14, 1999

• Antitrust and Competition in Health Care Markets
  Martin Gaynor and William B. Vogt #7112 (HC)
  
• Equity and Resources: An Analysis of Education Finance Systems
  Raquel Fernández and Richard Rogerson #7111 (PE)
  
• Government as a Discriminating Monopolist in the Financial Market: The Case of China
  Roger H. Gordon and Wei Li #7110 (PE)
  
• Power Couples: Changes in the Locational Choice of the College Educated, 1940-1990
  Dora L. Costa and Matthew E. Kahn #7109 (DAE, LS)
  
• Do Corrupt Governments Receive Less Foreign Aid?
  Alberto Alesina and Beatrice Weder #7108 (PE)
  
• Inventive Activity and the Market for Technology in the United States, 1840-1920
  Naomi R. Lamoreaux and Kenneth L. Sokoloff #7107 (DAE, PR)
  
• Reconsidering Contractual Liability and the Incentive to Reveal Information
  Lucian Arye Bebchuk and Steven Shavell #7106 (LE)
  
• Predictive Regressions
  Robert F. Stambaugh #T0240
  
• Toll Competition Among Congested Roads
  Eduardo Engel, Ronald Fischer, and Alexander Galetovic #T0239
  

Week of May 7, 1999

• Transform Analysis and Asset Pricing for Affine Jump-Diffusions
  Darrell Duffie, Jun Pan, and Kenneth Singleton #7105 (AP)
  
• Noise Trading and Exchange Rate Regimes
  Olivier Jeanne and Andrew K. Rose #7104 (IFM)
  
• Social Security Investment in Equities I: Linear Case
  Peter Diamond and John Geanakoplos #7103 (EFG)
  
• Lessons from the Asian Crisis
  Frederic S. Mishkin #7102 (IFM, ME)
  
• Do the Cognitive Skills of School Dropouts Matter in the Labor Market?
  John H. Tyler, Richard J. Murnane, and John B. Willett #7101 (LS)
  
• Trade and Foreign Direct Investment in China: A Political Economy Approach
  Lee G. Branstetter and Robert C. Feenstra #7100 (ITI)
  
• When Can Public Policy Makers Rely on Private Markets? The Effective Provision of Social Services
  Rebecca M. Blank #7099 (LS, PE, CH)
  
• How Effective are Fiscal Incentives for R&D? A Review of the Evidence
  Bronwyn H. Hall and John van Reenen #7098 (PE, PR)
  
• Political Economics and Public Finance
  Torsten Persson and Guido Tabellini #7097 (PE)
  
• Incentives to Settle Under Joint and Several Liability: An Empirical Analysis of Superfund Litigation
  Howard F. Chang and Hilary Sigman #7096 (PE)
  
• Sectoral Job Creation and Destruction Responses to Oil Price Changes
  Steven J. Davis and John Haltiwanger #7095 (LS, PR)
  
• Predicting the Efficacy of Future Training Programs Using Past Experience
  V. Joseph Hotz, Guido W. Imbens, and Julie H. Mortimer #T0238 (TWP)
  

Week of April 30, 1999

• The Role of Foreign Direct Investment in International Capital Flows
  Robert E. Lipsey #7094
  
• Does "Grease Money" Speed Up the Wheels of Commerce?
  Daniel Kaufmann and Shang-Jin Wei #7093
  
• The Economics of Vouchers
  David F. Bradford and Daniel N. Shaviro #7092
  
• Latin America and East Asia in the Context of an Insurance Model of Currency Crises
  Menzie D. Chinn, Michael P. Dooley, and Sona Shrestha #7091
  
• Business Cycles in International Historical Perspective
  Susanto Basu and Alan M. Taylor #7090
  
• Pricing Heart Attack Treatments
  David M. Cutler, Mark McClellan, Joseph P. Newhouse, and Dahlia Remler #7089
  
• Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence
  Bennett T. McCallum #7088
  
• Role of the Minimal State Variable Criterion in Rational Expectation Models
  Bennett T. McCallum #7087
  
• Damages and Injunctions in the Protection of Proprietary Research Tools
  Mark Schankerman and Suzanne Scotchmer #7086
  

Week of April 23, 1999

• Hostility in Takeovers: In the Eyes of the Beholder?
  G. William Schwert #7085
  
• Centralized versus Decentralized Provision of Local Public Goods: A Political Economy Analysis
  Timothy Besley and Stephen Coate #7084
  
• The Public Choice Critique of Welfare Economics: An Exploration
  Timothy Besley and Stephen Coate #7083
  
• Do Higher Salaries Buy Better Teachers?
  Eric A. Hanushek, John F. Kain, and Steven G. Rivkin #7082
  
• Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-National Evidence
  Francisco Rodríguez and Dani Rodrik #7081
  
• Mergers, Station Entry, and Programming Variety in Radio Broadcasting
  Steven T. Berry and Joel Waldfogel #7080
  
• Dynamic Factor Demand Models and Productivity Analysis
  M. Ishaq Nadiri and Ingmar R. Prucha #7079
  

Week of April 16, 1999

• The Human Capital Model of the Demand for Health
  Michael Grossman #7078
  
• Fiscal Stance and the Real Exchange: Some Empirical Estimates
  Richard Clarida and Joe Prendergast #7077
  
• The Adoption of Offset Presses in the Daily Newspaper Industry in the United States
  David Genesove #7076
  
• Do Stock Price Movements Reveal Profit Dissipation? An Investigation of the Gold Mining Industry
  Severin Borenstein and Joseph Farrell #7075
  
• The Rybczynski Theorem, Factor-Price Equalization, and Immigration: Evidence From U.S. States
  Gordon H. Hanson and Matthew J. Slaughter #7074
  
• Area Economic Conditions and the Labor Market Outcomes of Young Men in the 1990s Expansion
  Richard B. Freeman and William M. Rodgers III #7073
  
• Volatile Policy and Private Information: The Case of Monetary Policy
  Larry E. Jones and Rodolfo E. Manuelli #7072
  
• Multilateral Trade Negotiations, Bilateral Opportunism and the Rules of GATT
  Kyle Bagwell and Robert W. Staiger #7071
  
• Innovation Fertility and Patent Design
  Hugo A. Hopenhayn and Matthew F. Mitchell #7070
  
• Bayesian Performance Evaluation
  Klaas Baks, Andrew Metrick, Jessica Wachter #7069
  
• Legal Monopoly: Patents and Antitrust Litigation in U.S. Manufacturing, 1970-1998
  B. Zorina Khan #7068
  
• On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models
  Charles Engel #7067
  
• Do Stronger Patents Induce More Innovation? Evidence from the 1988 Japanese Patent Law Reforms
  Mariko Sakakibara and Lee Branstetter #7066
  
• The Economics of Bequests in Pensions and Social Security
  Martin Feldstein and Elena Ranguelova #7065
  
• Privatizing R&D: Patent Policy and the Commercialization of National Laboratory Technologies
  Adam B. Jaffe and Josh Lerner #7064
  
• Technology (and Policy) Shocks in Models of Endogenous Growth
  Larry E. Jones, Rodolfo E. Manuelli, and Ennio Stacchetti #7063
  
• The Patent Paradox Revisited: Determinants of Patenting in the US Semiconductor Industry, 1980-94
  Bronwyn H. Hall and Rose Marie Ham #7062
  
• Taxation and Saving
  B. Douglas Bernheim #7061
  
• Money and Interest Rates With Endogeneously Segmented Markets
  Fernando Alvarez, Andrew Atkeson, and Patrick J. Kehoe #7060
  
• Can Taxes on Cars and on Gasoline Mimic an Unavailable Tax on Emissions?
  Don Fullerton and Sarah West #7059
  
• Child Care and Mothers' Employment Decisions
  Patricia M. Anderson and Phillip B. Levine #7058
  
• Liquidity Flows and Fragility of Business Enterprises
  Wouter J. den Haan, Garey Ramey, and Joel Watson #7057
  
• International Asset Allocation with Time-Varying Correlations
  Andrew Ang and Geert Bekaert #7056
  
• Economic Tracking Portfolios
  Owen Lamont #7055
  
• The Role of the Propensity Score in Estimating Dose-Response Functions
  Guido W. Imbens #T0237
  
• Approximation Bias in Linearized Euler Equations
  Sydney Ludvigson and Christina H. Paxson #T0236
  

Week of April 2, 1999

• Does Border Enforcement Protect U.S. Workers from Illegal Immigration?
  Gordon H. Hanson, Raymond Robertson, and Antonio Spilimbergo #7054
  
• Starting Small in an Unfamiliar Environment
  James E. Rauch and Joel Watson #7053
  
• Economics and Mental Health
  Richard G. Frank and Thomas G. McGuire #7052
  
• Any Non-Individualistic Social Welfare Function Violates the Pareto Principle
  Louis Kaplow and Steven Shavell #7051
  
• Administrative Costs and Equilibrium Charges with Individual Accounts
  Peter Diamond #7050
  
• Mutual Funds and Institutional Investments: What is the Most Efficient Way to Set Up Individual Accounts in a Social Security System?
  Estelle James, Gary Ferrier, James Smalhout, and Dimitri Vittas #7049
  
• Mortality Risk and Consumption by Couples
  Michael D. Hurd #7048
  
• The Economics of Smoking
  Frank J. Chaloupka and Kenneth E. Warner #7047
  
• Household Production and the Excess Sensitivity of Consumption to Current Income
  Marianne Baxter and Urban J. Jermann #7046
  
• The Business Cycles of Balance-of-Payments Crises: A Revision of a Mundellian Framework
  Enrique G. Mendoza and Martin Uribe #7045
  
• International Experiences with Different Monetary Policy Regimes
  Frederic S. Mishkin #7044
  
• Ownership versus Environment: Why Are Public Sector Firms Inefficient?
  Ann P. Bartel and Ann E. Harrison #7043
  
• The Role of Bank Restructuring in Recovering from Crises: Mexico 1995-98
  Anne Krueger and Aaron Tornell #7042
  
• Generational Accounting and Immigration in the United States
  Alan J. Auerbach and Philip Oreopoulos #7041
  
• Foreign-Affiliate Activity and U.S. Skill Upgrading
  Bruce A. Blonigen and Matthew J. Slaughter #7040
  
• On Portfolio Optimization: Forecasting Covariances and Choosing the Risk Model
  Louis K.C. Chan , Jason Karceski, and Josef Lakonishok #7039
  
• Inequality, Growth, and Investment
  Robert J. Barro #7038
  
• Economic Epidemiology and Infectious Diseases
  Tomas Philipson #7037
  
• Uncertainty and the Design of Long-Run Fiscal Policy
  Alan J. Auerbach and Kevin A. Hassett #7036
  
• A New Measure of Horizontal Equity
  Alan J. Auerbach and Kevin A. Hassett #7035
  
• The Usual Excess-Burden Approximation Usually Doesn't Come Close
  Lawrence H. Goulder and Roberton C. Williams III #7034
  
• Index Funds and Stock Market Growth
  William N. Goetzmann and Massimo Massa #7033
  
• Pairs Trading: Performance of a Relative Value Arbitrage Rule
  Evan G. Gatev, William N. Goetzmann, and K. Geert Rouwenhorst #7032
  
• The Risk of Social Security Benefit Rule Changes: Some International Evidence
  John McHale #7031
  
• Social Security and Demographic Uncertainty: The Risk Sharing Properties of Alternative Policies
  Henning Bohn #7030
  

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