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New This Week Archive

NBER Working Papers released in the past, by week.

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Week of March 19, 1999

• Investing Retirement Wealth: A Life-Cycle Model
  John Campbell, João F. Cocco, Francisco J. Gomes, and Pascal J. Maenhout #7029
  
• Using Employee Level Data in a Firm Level Econometric Study
  Jacques Mairesse and Nathalie Greenan #7028
  
• Maximum Likelihood in the Frequency Domain: A Time to Build Example
  Lawrence J. Christiano and Robert J. Vigfusson #7027
  
• Pricing to Market, Staggered Contracts, and Real Exchange Rate Persistence
  Paul R. Bergin and Robert C. Feenstra #7026
  
• The Concentration of Job Destruction
  Robert E. Hall #7025
  
• Network Effects and Diffusion in Pharmaceutical Markets: Antiulcer Drugs
  Ernst R. Berndt, Robert S. Pindyck, and Pierre Azoulay #7024
  
• Forecasting Inflation
  James H. Stock and Mark W. Watson #7023
  
• Innovation in Israel 1968-97: A Comparative Analysis Using Patent Data
  Manuel Trajtenberg #7022
  
• Globalization of Equity Markets and the Cost of Capital
  René M. Stulz #7021
  
• Valuing the Reload Features of Executive Stock Options
  Steven Huddart, Ravi Jagannathan, and Jane Saly #7020
  
• Inferring Relative Factor Price Changes from Quantitative Data
  Robert E. Baldwin #7019
  
• Patterns of Skill Premia
  Daron Acemoglu #7018
  
• Taylor Rules in a Limited Participation Model
  Lawrence J. Christiano and Christopher J. Gust #7017
  
• The Transition to Investment-Based Social Security when Portfolio Returns and Capital Profitability are Uncertain
  Martin Feldstein, Elena Ranguelova, and Andrew Samwick #7016
  
• Asset Allocation and Risk Allocation: Can Social Security Improve Its Future Solvency Problem By Investing In Private Securities?
  Thomas E. MaCurdy and John B. Shoven #7015
  
• Devaluation Risk and the Syndrome of Exchange-Rate-Based Stabilizations
  Enrique G. Mendoza and Martín Uribe #7014
  
• Unskilled Migration: A Burden or a Boon for the Welfare State
  Assaf Razin and Efraim Sadka #7013
  
• Share Liquidity and Industrial Growth in an Emerging Market: The Case of New England, 1854-1897
  Peter L. Rousseau #H0117
  
• Capital Goods Prices, Global Capital Markets and Accumulation: 1870-1950
  William J. Collins and Jeffrey G. Williamson #H0116
  

Week of March 12, 1999

• Search and Deliberation in International Exchange: Learning from Multinational Trade About Lags, Distance Effects, and Home Bias
  Subramanian Rangan and Robert Z. Lawrence #7012
  
• Robust Estimation of the Joint Consumption/Asset Demand Decision
  Marjorie Flavin #7011
  
• Conditioning Variables and the Cross-Section of Stock Returns
  Wayne E. Ferson and Campbell R. Harvey #7009
  
• Measuring Bubble Expectations and Investor Confidence
  Robert J. Shiller #7008
  
• The Location and Allocation of Assets in Pension and Conventional Savings Accounts
  John B. Shoven #7007
  
• Measuring Labor's Share
  Alan B. Krueger #7006
  
• The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program
  Jeffrey R. Brown, Olivia S. Mitchell, and James M. Poterba #7005
  
• Reserve Requirements on Sovereign Debt in the Presence of Moral Hazard -- on Debtors or Creditors?
  Joshua Aizenman and Stephen J. Turnovsky #7004
  
• New Evidence on Sex Segregation and Sex Differences in Wages from Matched Employee-Employer Data
  Kimberly Bayard, Judith Hellerstein, David Neumark, and Kenneth Troske #7003
  
• Alternative and Part-Time Employment Arrangements as a Response to Job Loss
  Henry S. Farber #7002
  
• Estimating the Effects of Unearned Income on Labor Supply, Earnings, Savings and Consumption: Evidence from a Survey of Lottery Players
  Guido W. Imbens, Donald B. Rubin, and Bruce Sacerdote #7001
  
• Trade, Insecurity, and Home Bias: An Empirical Investigation
  James E. Anderson and Douglas Marcouiller #7000
  
• Is the Impact of Health Shocks Cushioned by Socioeconomic Status? The Case of Low Birthweight
  Janet Currie and Rosemary Hyson #6999
  
• Financial Incentives for Increasing Work and Income Among Low-Income Families
  Rebecca M. Blank, David Card, and Philip K. Robins #6998
  
• Why are Racial and Ethnic Wage Gaps Larger for Men than for Women? Exploring the Role of Segregation Using the New Worker-Establishment Characteristics Database
  Kimberly Bayard, Judith Hellerstein, David Neumark, and Kenneth Troske #6997
  
• Minimum Wages and Employment in France and the United States
  John M. Abowd, Francis Kramarz, and David N. Margolis #6996
  
• Demographic Change and Public Assistance Expenditures
  Robert A. Moffitt #6995
  
• Global Diversification, Growth and Welfare with Imperfectly Integrated Markets for Goods
  Bernard Dumas and Raman Uppal #6994
  
• The Economic Theory of Public Enforcement of Law
  A. Mitchell Polinsky and Steven Shavell #6993
  
• The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production
  Michael B. Devereux and Charles Engel #6992
  
• The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation
  Andrew B. Abel #6991
  
• How Trade Patterns and Technology Flows Affect Productivity Growth
  Wolfgang Keller #6990
  
• Distributional Impacts of Proposed Changes to the Social Security System
  Julia Lynn Coronado, Don Fullerton, and Thomas Glass #6989
  

Week of March 5, 1999

• A Contribution to the Theory of Welfare Comparisons
  Martin L. Weitzman #6988
  
• Durable Goods Cycles
  Andrew Caplin and John Leahy #6987
  
• Dumping and Double Crossing: The (In)Effectiveness of Cost-Based Trade Policy Under Incomplete Information
  Dobrin R. Kolev and Thomas J. Prusa #6986
  
• Exchange Rates and Local Labor Markets
  Linda Goldberg and Joseph Tracy #6985
  
• Innovation and Market Value
  Bronwyn H. Hall #6984
  
• The Pre-Program Earnings Dip and the Determinants of Participation in a Social Program: Implications for Simple Program Evaluation Strategies
  James J. Heckman and Jeffrey A. Smith #6983
  
• Do Unemployment Insurance Recipients Actively Seek Work? Randomized Trials in Four U.S. States
  Orley Ashenfelter, David Ashmore, and Olivier Deschênes #6982
  
• U.S. Wages in General Equilibrium: The Effects of Prices, Technology, and Factor Supplies, 1963-1991
  James Harrigan and Rita A. Balaban #6981
  
• Aging and the Growth of Long-Term Care
  Darius Lakdawalla and Tomas Philipson #6980
  
• Inflation and Welfare: Comment on Robert Lucas
  Hans-Werner Sinn #6979
  
• Trade, Technology and U.K. Wage Inequality
  Jonathan Haskel and Matthew J. Slaughter #6978
  
• The Tiebout Hypothesis and Majority Rule: An Empirical Analysis
  Dennis Epple and Holger Sieg #6977
  
• Do Indirect Cost Rates Matter?
  Ronald G. Ehrenberg and Jaroslava K. Mykula #6976
  
• The Effect of Patronage Politics on City Government in American Cities, 1900-1910
  Rebecca Menes #6975
  
• The Role of Deportation in the Incarceration of Immigrants
  Kristin F. Butcher and Anne Morrison Piehl #6974
  
• Investment Plans and Stock Returns
  Owen Lamont #6973
  
• Contact-Theoretic Approaches to Wages and Displacement
  Wouter J. den Haan, Garey Ramey, and Joel Watson #6972
  
• Quality Improvement in Health Care:A Framework for Price and Output Measurement
  Irving Shapiro, Matthew D. Shapiro, and David W. Wilcox #6971
  

Week of February 26, 1999

• Reforming Social Security: A Practical and Workable System of Personal Retirement Accounts
  Fred T. Goldberg, Jr. and Michael J. Graetz #6970
  
• Measuring Product-Market Integration
  Michael M. Knetter and Matthew J. Slaughter #6969
  
• Foreign Portfolio Investors Before and During a Crisis
  Woochan Kim and Shang-Jin Wei #6968
  
• Economic, Financial and Fundamental Global Risk In and Out of the EMU
  Wayne E. Ferson and Campbell R. Harvey #6967
  
• Has Job Security Vanished in Large Corporations?
  Steven G. Allen, Robert L. Clark, and Sylvester J. Schieber #6966
  
• International Experiences with Different Monetary Policy Regimes
  Frederic S. Mishkin #6965
  
• The Aftermath of the 1992 ERM Breakup: Was There a Macroeconomic Free Lunch?
  Robert J. Gordon #6964
  
• The Redesign of the Matching Market for American Physicians: Some Engineering Aspects of Economic Design
  Alvin E. Roth and Elliott Peranson #6963
  
• Banks as Liquidity Providers: An Explanation for the Co-Existence of Lending and Deposit-Taking
  Anil K Kashyap, Raghuram Rajan, and Jeremy C. Stein #6962
  
• The Distribution of Exchange Rate Volatility
  Torben G. Anderson, Tim Bollerslev, Francis X. Diebold, and Paul Labys #6961
  
• Economic Analysis of Law
  Louis Kaplow and Steven Shavell #6960
  
• Poisoned Grapes, Mad Cows and Protectionism
  Eduardo Engel #6959
  
• Tobacco Advertising: Economic Theory and International Evidence
  Henry Saffer and Frank Chaloupka #6958
  
• Personnel Economics:Past Lessons and Future Directions
  Edward P. Lazear #6957
  
• Rewards versus Intellectual Property Rights
  Steven Shavell and Tanguy van Ypersele #6956
  
• Emerging Market Business Groups, Foreign Investors, and Corporate Governance
  Tarun Khanna and Krishna Palepu #6955
  
• Program Evaluation as a Decision Problem
  Rajeev H. Dehejia #6954
  

Week of February 19, 1999

• Quantitative Asset Pricing Implications of Endogenous Solvency Constraints
  Fernando Alvarez and Urban J. Jermann #6953
  
• Efficient Competition with Small Numbers -- With Applications to Privatisation and Mergers
  Kala Krishna and Torben Tranæs #6952
  
• Stock Pyramids, Cross Ownership, and Dual Class Equity: The Creation and Agency Costs of Separating Control from Cash Flow Rights
  Lucian Bebchuk, Reinier Kraakman, and George Triantis #6951
  
• Violence and the U.S. Prohibition of Drugs and Alcohol
  Jeffrey A. Miron #6950
  
• Can Market and Voting Institutions Generate Optimal Intergenerational Risk Sharing?
  Antonio Rangel and Richard Zeckhauser #6949
  
• Changes in Business Cycles: Evidence and Explanations
  Christina D. Romer #6948
  
• Do Subsidies to Commercial R&D Reduce Market Failures? Microeconomic Evaluation Studies
  Tor Jakob Klette, Jarle Møen, and Zvi Griliches
  
• Labor-Market Competition and Individual Preferences Over Immigration Policy
  Kenneth F. Scheve and Matthew J. Slaughter #6946
  
• Corruption and Optimal Law Enforcement
  A. Mitchell Polinsky and Steven Shavell #6945
  
• Estimating the Effect of Alcohol on Driver Risk Using Only Fatal Accident Statistics
  Steven D. Levitt and Jack Porter #6944
  
• Early Test Scores, Socioeconomic Status, and Future Outcomes
  Janet Currie and Duncan Thomas #6943
  
• Why Not Africa?
  Richard B. Freeman and David L. Lindauer #6942
  
• Measuring the Economic Effects of Military Base Closures
  Mark A. Hooker and Michael M. Knetter #6941
  
• The Effects of Prices and Policies on the Demand for Marijuana: Evidence from the National Household Surveys on Drug Abuse
  Matthew C. Farrelly, Jeremy W. Bray, Gary A. Zarkin, Brett W. Wendling, and Rosalie Liccardo Pacula #6940
  
• Do Higher Cigarette Prices Encourage Youths to Use Marijuana?
  Frank J. Chaloupka, Rosalie Liccardo Pacula, Matthew C. Farrelly, Lloyd D. Johnston, Patrick M. O'Malley, and Jeremy W. Bray #6939
  
• The "Lemons Effect" in Corporate Freeze-Outs
  Lucian Arye Bebchuk and Marcel Kahan #6938
  
• Price, Clean Indoor Air Laws, and Cigarette Smoking: Evidence from Longitudinal Data for Young Adults
  John A. Tauras and Frank J. Chaloupka #6937
  
• A Dynamic Oligopoly with Collusion and Prices Wars
  Chaim Fershtman and Ariel Pakes #6936
  
• Recent G3 Current Account Imbalances: How Important are Structural Factors?
  Richard Clarida and Joe Prendergast #6935
  
• Per-Mile Premiums for Auto Insurance
  Aaron S. Edlin #6934
  
• 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 #H0115
  
• The Industrialization of New England, 1830 - 1880
  Peter Temin #H0114
  
• The Challenges of Economic Maturity: New England, 1880 - 1940
  Joshua L. Rosenbloom #H0113
  

Week of February 12, 1999

• Contingent Protection as Better Insurance
  Ronald D. Fischer and Thomas J. Prusa #6933
  
• Prices and Coupons for Breakfast Cereals
  Aviv Nevo and Catherine Wolfram #6932
  
• The IT Revolution and the Stock Market
  Jeremy Greenwood and Boyan Jovanovic #6931
  
• Public Policies and Private Saving in Mexico
  Martin Feldstein #6930
  
• An Options-Based Analysis of Emerging Market Exchange Rate Expectations: Brazil's Real Plan, 1994 - 1997
  Jose M. Campa, P.H. Kevin Chang, and James F. Refalo #6929
  
• Unit Root Tests are Useful for Selecting Forecasting Models
  Francis X. Diebold and Lutz Kilian #6928
  
• The Art of Labormetrics
  Daniel S. Hamermesh #6927
  
• Are Macroeconomic Forecasts Informative? Cointegration Evidence from the ASA-NBER Survey
  Yin-Wong Cheung and Menzie D. Chinn #6926
  
• Inflation Stabilization and BOP Crises in Developing Countries
  Guillermo A. Calvo and Carlos A. Vegh #6925
  
• Wage Dynamics: Reconciling Theory and Evidence
  Olivier Jean Blanchard and Lawrence Katz #6924
  
• Foreign Ownership and Wages in the United States, 1987 - 1992
  Zadia Feliciano and Robert E. Lipsey #6923
  
• Green Tax Reform and Competitiveness
  Erkki Koskela, Ronnie Schob, and Hans-Werner Sinn #6922
  
• The Core-Periphery Model with Forward-Looking Expectations
  Richard E. Baldwin #6921
  
• Job Loss and Retirement Behavior of Older Men
  Sewin Chan and Ann Huff Stevens #6920
  
• Managerial Value Diversion and Shareholder Wealth
  Lucian Arye Bebchuk and Christine Jolls #6919
  

Week of February 5, 1999

• The Cost of Annuitizing Retirement Payouts from Individual Accounts
  James M. Poterba and Mark J. Warshawsky #6918
  
• Prefunding Medicare
  Martin Feldstein #6917
  
• The Price of Alcohol, Wife Abuse, and Husband Abuse
  Sara Markowitz #6916
  
• Who Gains from Trade Reform? Some Remaining Puzzles
  Ann Harrison and Gordon Hanson #6915
  
• Controlling the Price Level
  Robert E. Hall #6914
  
• The Profits to Insider Trading: A Performance-Evaluation Perspective
  Leslie A. Jeng, Andrew Metrick, and Richard Zeckhauser #6913
  
• Aggregate Job Destruction and Inventory Liquidation
  Robert E. Hall #6912
  
• The Productivity of Schools and Other Local Goods Providers
  Caroline M. Hoxby #6911
  
• The Distributional Effects of Medicare
  Julie Lee, Mark McClellan, and Jonathan Skinner #6910
  
• The Cyclical Behavior of Prices and Costs
  Julio J. Rotemberg and Michael Woodford #6909
  
• Worker Perceptions of Job Insecurity in the Mid-1990s: Evidence from the Survey of Economic Expectations
  Charles F. Manski and John D. Straub #6908
  
• Self-Protection for Emerging Market Economies
  Martin Feldstein #6907
  
• What Drives Venture Capital Fundraising?
  Paul Gompers and Josh Lerner #6906
  
• Alcohol
  Philip J. Cook and Michael J. Moore #6905
  
• Two Waves of Globalisation: Superficial Similarities, Fundamental Differences
  Richard E. Baldwin and Philippe Martin #6904
  
• Understanding Tax Evasion Dynamics
  Eduardo M.R.A. Engel and James R. Hines, Jr. #6903
  
• Schooling, Intelligence, and Income in America: Cracks in the Bell Curve
  Orley Ashenfelter and Cecilia Rouse #6902
  
• Imperfect Labor Contracts and International Trade
  Gene M. Grossman #6901
  
• From the Invisible Handshake to the Invisible Hand? How Import Competition Changes the Employment Relationship
  Marianne Bertrand #6900
  
• The Core-Periphery Model and Endogenous Growth: Stabilising and De-Stabilising Integration
  Richard E. Baldwin and Rikard Forslid #6899
  
• Learning by Doing and Aggregate Fluctuation
  Russell Cooper and Alok Johri #6898
  

Week of January 29, 1999

• Designing Hospital Antitrust Policy to Promote Social Welfare
  Daniel Kessler and Mark McClellan #6897
  
• Does Where You Are Admitted Make a Difference? An Analysis of Medicare Data
  Frank A. Sloan, Gabriel A. Picone, Donald H. Taylor, and Shin-Yi Chou #6896
  
• Your Money and Your Life: The Value of Health and What Affects It
  David M. Cutler and Elizabeth Richardson #6895
  
• Managed Care and Medical Technology Growth
  Laurence Baker and Joanne Spetz #6894
  
• When Industries Become More Productive, Do Firms? Investigating Productivity Dynamics
  James Levinsohn and Amil Petrin #6893
  
• What Will Technology Do to Financial Structure?
  Frederic S. Mishkin and Philip E. Strahan #6892
  
• Optimal Fiscal and Monetary Policy
  V.V. Chari and Patrick J. Kehoe #6891
  
• Patient Welfare and Patient Compliance: An Empirical Framework for Measuring the Benefits from Pharmaceutical Innovation
  Paul Ellickson, Scott Stern, and Manuel Trajtenberg #6890
  
• Competitive Devaluations: A Welfare Based Approach
  Giancarlo Corsetti, Paolo Pesenti, Nouriel Roubini, and Cedric Tille #6889
  

Week of January 22, 1999

• The Lives of the Painters of Modern Life: The Careers of Artists in France from Impressionism to Cubism
  David W. Galenson #6888
  
• Does Publicly Provided Health Insurance Improve the Health of Low- Income Children in the United States?
  Robert Kaestner, Theodore Joyce, and Andrew Racine #6887
  
• Risks to Lenders and Borrowers in International Capital Markets
  Benjamin E. Hermalin and Andrew K. Rose #6886
  
• Capitalizations of Capital Gains Taxes: Evidence from Stock Price Reactions to the 1997 Rate Reduction
  Mark H. Lang and Douglas A. Shackelford #6885
  
• An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited
  Assaf Razin, Efraim Sadka, and Chi-Wa Yuen #6884
  
• Is Europe Going Too Far?
  Alberto Alesina and Romain Wacziarg #6883
  
• Balancing Incentives: The Tension Between Basic and Applied Research
  Iain Cockburn, Rebecca Henderson, and Scott Stern #6882
  
• General Equilibrium Cost Benefit Analysis of Education and Tax Policies
  James J. Heckman, Lance Lochner, and Christopher Taber #6881
  
• Conditioning Information and Variance Bounds on Pricing Kernels
  Geert Bekaert and Jun Liu #6880
  
• Productivity Differences
  Daron Acemoglu and Fabrizio Zilbotti #6879
  
• Post-Unification Wage Growth in East Germany
  Jennifer Hunt #6878
  
• Factor Adjustment, Quality Change, and Productivity Growth for U.S. Manufacturing
  Jeffrey I. Bernstein, Theofanis P. Mamuneas, and Panos Pashardes #6877
  
• The Location and Characteristics of U.S. Affiliates in Asia
  Robert E. Lipsey #6876
  
• Managerial Incentive Programs -- A Dynamic Perspective
  Bengt Holmstrom #6875
  
• Financial Markets' Assessment of EMU
  David S. Bates #6874
  
• Explaining Rising Income and Wage Inequality Among the College-Educated
  Caroline M. Hoxby and Bridget Terry #6873
  
• Did Community Rating Induce an Adverse Selection Death Spiral? Evidence from New York, Pennsylvania and Connecticut
  Thomas Buchmueller and John DiNardo #6872
  
• Statistical Discrimination in a Competitive Labor Market
  Jonathan B. Berk #6871
  
• The Mercantilist Index of Trade Policy
  James E. Anderson and J. Peter Neary #6870
  

Week of January 8, 1999

• The Effects of Class Size and Composition on Student Achievement: New Evidence from Natural Population Variation
  Caroline M. Hoxby #6869
  
• CEO Incentives and Firm Size
  George P. Baker and Brian J. Hall #6868
  
• Fixed vs. Floating Exchange Rates: How Price Setting Affects the Optimal Choice of Exchange-Rate Regime
  Michael B. Devereux and Charles Engel #6867
  
• Demographics and Medical Care Spending: Standard and Non-Standard Effects
  David M. Cutler and Louise Sheiner #6866
  
• Are Invisible Hands Good Hands? Moral Hazard, Competition, and the Second Best in Health Care Markets
  Martin Gaynor, Deborah Haas-Wilson, and William B. Vogt #6865
  
• Exchange Rates and Jobs: What Do We Learn from Job Flows?
  Pierre-Olivier Gourinchas #6864
  
• In a World Without Borders: The Impact of Taxes on Internet Commerce
  Austan Goolsbee #6863
  
• What If Alexander Hamilton Had Been Argentinean? A Comparison of the Early Monetary Experiences of Argentina and the United States
  Michael D. Bordo and Carlos A. Vegh #6862
  
• Trade, Investment, and Growth: Nexus, Analysis, and Prognosis
  Kala Krishna, Ataman Ozyildirim, and Norman R. Swanson #6861
  
• Tallest in the World: Native Americans of the Great Plains in the Nineteenth Century
  Joseph M. Prince and Richard H. Steckel #H0112
  
• Intra-Ethnic Diversity in Hispanic Child Mortality, 1890-1910
  Myron P. Gutmann, Michael R. Haines, W. Parker Frisbie, and K. Stephen Blanchard #H0111
  
• The Stability of the American Business Elite
  Peter Temin #H0110
  

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