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New This Week Archive

NBER Working Papers released in the past, by week.

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Week of September 27, 2004

Latest NBER Working Papers

• Transaction Costs: Valuation Disputes, Bi-Lateral Monopoly Bargaining and Third-Party Effects in Water Rights Exchanges. The Owens Valley Transfer to Los Angeles
  Gary D. Libecap #10801 (DAE)
  
• Inequality, Nonhomothetic Preferences, and Trade: A Gravity Approach
  Muhammed Dalgin, Devashish Mitra, and Vitor Trindade #10800 (ITI)
  
• Healthcare Markets, the Safety Net and Access to Care Among the Uninsured
  Jose Escarce, Carole Roan Gresenz, and Jeanette A. Rogowski #10799 (HE)
  
• Migaration, Social Standards and Replacement Incomes: How to Protect Low-Income Workers in the Industrialized Countries Against the Forces of Globalization and Market Integration
  Hans-Werner Sinn #10798 (PE)
  
• The Performance of the Pivotal-Voter Model in Small-Scale Elections: Evidence from Texas
  Stephen Coate, Michael Conlin, and Andrea Moro #10797 (PE)
  
• The Changing Association Between Prenatal Participation in WIC and Birth Outcomes in New York City
  Ted Joyce, Diane Gibson, and Silvie Colman #10796 (HE, C)
  
• Anatomy of the Rise and Fall of a Price-Fixing Conspiracy: Auctions at Sotheby's and Christie's
  Orley Ashenfelter and Kathryn Graddy #10795 (IO, LE)
  
• Investor Sentiment Measures
  Lily Qiu and Ivo Welch #10794 (CF, AP)
  
• New Goods and the Transition to a New Economy
  Jeremy Greenwood and Gokce Uysal #10793 (EFG, DAE)
  
• Designing Optimal Disability Insurance: A Case for Asset Testing
  Mikhail Golosov and Aleh Tsyvinski #10792 (PE)
  
• The Rise of the Fourth Estate: How Newspapers Became Informative and Why it Mattered
  Matthew Gentzkow, Edward L. Glaeser, and Claudia Goldin #10791 (DAE, LE)
  
• Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees
  Enrique G. Mendoza and Ceyhun Bora Durdu #10790 (IFM)
  
• Subjective Mortality Risk and Bequests
  Li Gan, Guan Gong, Michael Hurd, and Daniel McFadden #10789 (A)
  
• Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries
  Silvia Ardagna, Francesco Caselli, and Timothy Lane #10788 (EFG, PE)
  
• What Does the Pubic Know about Economic Policy, and How Does It Know It?
  Alan S. Blinder and Alan B. Krueger #10787 (EFG, PE)
  
• Contingent Reserves Management: An Applied Framework
  Ricardo J. Caballero and Stavros Panageas #10786 (EFG, IFM)
  
• The Comovement of Returns and Investment Within the Multinational Firm
  Mihir A. Desai and C. Fritz Foley #10785 (CF, PE)
  

  Chapters for Forthcoming NBER Books

  "Interest Rate, Inflation, and Housing Price: With an Emphasis on Chonsei Price in Korea"
  Dongchul Cho
  "Deflation and Monetary Policy in Taiwan"
  Ya-Hwei Yang and Jia-Dong Shea

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Week of September 20, 2004

Latest NBER Working Papers

• Household Expenditure and the Income Tax Rebates of 2001
  David S. Johnson, Jonathan A. Parker, and Nicholas S. Souleles #10784 (EFG, ME, PE)
  
• Working the System: Firm Learning and the Antidumping Process
  Bruce A. Blonigen #10783 (ITI)
  
• Supply or Demand: Why is the Market for Long-Term Care Insurance So Small?
  Jeffrey R. Brown and Amy Finkelstein #10782 (A, HE, PE)
  
• Financing Consumption in an Aging Japan: The Role of Foreign Capital Inflows Immigration
  Robert Dekle #10781 (A, ITI)
  
• When it Rains, it Pours: Procyclical Capital Flows and Macroeconomic Policies
  Graciela L. Kaminsky, Carmen M. Reinhart, and Carlos A. Vegh #10780 (IFM)
  
• Bulls, Bears, and Retirement Behavior
  Courtney C. Coile and Phillip B. Levine #10779 (A, LS)
  
• Markets in China and Europe on the Eve of the Industrial Revolution
  Carol H. Shiue and Wolfgang Keller #10778 (EFG, DAE, IFM, ITI)
  
• Neighborhood Effects on Crime for Female and Male Youth: Evidence from a Randomized Housing Voucher Experiment
  Jeffrey R. Kling, Jens Ludwig, and Lawrence F. Katz #10777 (PE, C)
  
• When Can Changes in Expectations Cause Business Cycle Fluctuation in Neo-Classical Settings?
  Paul Beaudry and Franck Portier #10776 (EFG)
  
• Corruption and Reform: An Introduction
  Edward Glaeser and Claudia Goldin #10775 (DAE, LE)
  
• Compatibility and Pricing with Indirect Network Effects: Evidence from ATMs
  Christopher R. Knittel and Victor Stango #10774 (P)
  
• Do Acquirers With More Uncertain Growth Prospects Gain Less From Acquisitions?
  Sara B. Moeller, Frederik P. Schlingemann, and Rene M. Stulz #10773 (CF, AP)
  
• Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households
  Jeremy Greenwood and Nezih Guner #10772 (EFG, LS)
  
• The Pre-Producers
  Boyan Jovanovic #10771 (EFG, P)
  
• On the Industry Concentration of Actively Managed Equity Mutual Funds
  Marcin Kacperczyk, Clemens Sialm, and Lu Zheng #10770 (CF, AP)
  
• Social Networks and Trade Liberalization
  Manish Pandey and John Whalley #10769 (ITI)
  
• The Impact of China on the Exports of Other Asian Countries
  Barry Eichengreen, Yeongseop Rhee, and Hui Tong #10768 (ITI)
  
• Growth and Ideas
  Charles I. Jones #10767 (EFG)
  
• Finance and Growth: Theory and Evidence
  Ross Levine #10766 (CF, EFG, IFM)
  
• Technological Progress and Economic Transformation
  Jeremy Greenwood and Ananth Seshadri #10765 (EFG)
  
• Shocks and Government Beliefs: The Rise and Fall of American Inflation
  Thomas Sargent, Noah Williams, and Tao Zha #10764 (EFG)
  
• Will Job Testing Harm Minority Workers?
  David Autor and David Scarborough #10763 (LS)
  

  Chapters for Forthcoming NBER Books

  Introduction to "Monetary Policy under Very Low Inflation Rates," EASE Volume 15, edited by Takatoshi Ito and Andrew Rose
  "Two Decades of Japanese Monetary Policy and the Deflation Problem"
  Takatoshi Ito and Frederic S. Mishkin, http://www.nber.org/books/ease15/index.html
  Comment by Mario Lamberte on "Housing Prices and Monetary Policy When Interest Rates Decline," by Dongchul Cho
  Comment by Edward C. Prescott on "Measuring Capital and Technology: An Expanded Framework," by Carol Corrado, Charles Hulten and Daniel Sichel

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Week of September 13, 2004

Latest NBER Working Papers

• Effects of Child Health on Sources of Public Support
  Nancy E. Reichman, Hope Corman, and Kelly Noonan #10762 (HE, PE)
  
• The Optimal Use of Fines and Imprisonment When Wealth is Unobservable
  A. Mitchell Polinsky #10761 (LE)
  
• Optimal Fines and Auditing When Wealth is Costly to Observe
  A. Mitchell Polinsky #10760 (LE)
  
• Explaining Diversities in Age-Specific Life Expectancies and Values of Life Saving: A Numerical Analysis
  Isaac Ehrlich and Yong Yin #10759 (HE)
  
• Patent Licensing and the Research University
  Richard A. Jensen and Marie C. Thursby #10758 (ITI)
  
• Socioeconomic Status and Medical Care Expenditures in Medicare Managed Care
  Kanika Kapur, Jeannette A. Rogowski, Vicki A. Freedman, Steven L. Wickstrom, John L. Adams, and Jose J. Escarce #10757 (HE)
  
• Can Interest Rate Volatility be Extracted from the Cross Section of Bond Yields?
  Pierre Collin-Dufresne, Robert S. Goldstein, and Christopher S. Jones #10756 (AP)
  
• Predatory Trading
  Markus Brunnermeier and Lasse Heje Pedersen #10755 (AP)
  
• The Appeals Process and Adjudicator
  Steven Shavell #10754 (LE)
  
• Sovereign Debt and Repudiation: The Emerging-Market Debt Crisis in the U.S. States, 1839-1843
  John Joseph Wallis, Richard E. Sylla, and Arthur Grinath III #10753 (DAE)
  
• High Performing Asian Economies
  Robert W. Fogel #10752 (EFG)
  
• The Long-Run Volatility Puzzle of the Real Exchange Rate
  Ricardo Hausmann, Ugo Panizza, and Roberto Rigobon #10751 (IFM)
  
• Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships
  Roberto Rigobon and Dani Rodrik #10750 (EFG, IFM, ITI)
  
• Once Again, is Openness Good for Growth?
  Ha Yan Lee, Luca Antonio Ricci, and Roberto Rigobon #10749 (EFG, IFM, ITI)
  

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Week of September 6, 2004

Latest NBER Working Papers

• Why Do Incumbent Senators Win? Evidence from a Dynamic Selection Model
  Gautam Gowrisankaran, Matthew F. Mitchell, and Andrea Moro #10748 (PE)
  
• Targeting Rules vs. Instrument Rules for Monetary Policy: What is Wrong with McCallum and Nelson?
  Lars E.O. Svensson #10747 (ME)
  
• Faster, Smaller, Cheaper: An Hedonic Price Analysis of PDAs
  Paul D. Chwelos, Ernst R. Berndt, and Iain M. Cockburn #10746 (P)
  
• Does the Impact of Managed Care on Substance Abuse Treatment Services Vary By Profit Status?
  Jody Sindelar and Todd Olmstead #10745 (A, HE)
  
• Effective Labor Regulation and Microeconomic Flexibility
  Ricardo J. Caballero, Eduardo M.R.A. Engel, Kevin N. Cowan, and Alejandro Micco #10744 (EFG, LS, P)
  
• Multi-Period Corporate Failure Prediction with Stochastic Covariates
  Darrell Duffie and Ke Wang #10743 (CF, AP)
  
• Stealth Compensation Via Retirement Benefits
  Lucian Arye Bebchuk and Jesse M. Fried #10742 (CF, LE)
  
• On the Timing of Innovation in Stochastic Schumpeterian Growth Models
  Gadi Barlevy #10741 (EFG, P)
  
• Disaggregating Employment Protection: The Case of Disability Discrimination
  Christine Jolls and J.J. Prescott #10740 (LS, LE)
  
• The Dynamics of Criminal Behavior: Evidence from Weather Shocks
  Brian Jacob, Lars Lefgren, and Enrico Moretti #10739 (PE)
  
• Does Cost Sharing Affect Compliance? The Case of Prescription Drugs
  Avi Dor and William Encinosa #10738 (HE, P)
  

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Week of August 30, 2004

Latest NBER Working Papers

• The Value of Life and the Rise in Health Spending
  Robert E. Hall and Charles I. Jones #10737 (EFG, A, HE, PE)
  
• The Social Costs of Gun Ownership
  Philip J. Cook and Jens Ludwig #10736 (HE)
  
• Labor Market Institutions, Wages, and Investment
  Jorn-Steffen Pischke #10735 (LS)
  
• Emerging Market Business Cycles: The Cycle is the Trend
  Mark Aguiar and Gita Gopinath #10734 (EFG, IFM)
  
• Neoclassical Growth and the Adoption of Technologies
  Diego Comin and Bart Hobijn #10733 (EFG, ME)
  
• Transition Dynamics in Vintage Capital Models: Explaining the Postwar Catch-Up of Germany and Japan
  Simon Gilchrist and John C. Williams #10732 (EFG, ME)
  
• Defaultable Debt, Interest Rates and the Current Account
  Mark Aguiar and Gita Gopinath #10731 (IFM)
  
• Welfare vs. Market Access: The Implications of Tariff Structure for Tariff Reform
  James A. Anderson and J. Peter Neary #10730 (ITI)
  
• Empire, Public Goods, and the Roosevelt Corollary
  Kris James Mitchener and Marc D. Weidenmier #10729 (DAE)
  
• Technical Change and the Wage Structure During the Second Industtrial Revolution: Evidence from the Merchant Marine, 1865-1912
  Aimee Chin, Chinhui Juhn, and Peter Thompson #10728 (DAE, LS)
  
• The US Current Deficit and Economic Development: Collateral for a Total Return Swap
  Michael P. Dooley, David Folkerts-Landau, and Peter M. Garber #10727 (IFM)
  
• Why Do Countries Matter So Much for Corporate Governance?
  Rene M. Stulz, Craig Dodge and Andrew Karolyi #10726 (CF)
  
• Determinants of Business Cycle Comovement: A Robust Analysis
  Marianne Baxter and Michael A. Kouparitsas #10725 (EFG, IFM)
  
• Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the U.S. Business Cycle
  Stephanie Schmitt-Grohe and Martin Uribe #10724 (EFG, ME)
  
• Exchange Rates and Fundamentals
  Charles Engel and Kenneth D. West #10723 (EFG, IFM, ME, AP)
  
• Robin Hood and His Not-So-Merry Plan: Capitalization and the Self-Destruction of Texas' School Finance Equalization Plan
  Caroline M. Hoxby and Ilyana Kuziemko #10722 (ED, PE, C)
  
• Negotiating Free Trade
  Philippe Aghion, Pol Antras, and Elhanan Helpman #10721 (ITI)
  
• The More the Merrier? The Effect of Family Composition on Children's Education
  Sandra E. Black, Paul G. Devereux, and Kjell G. Salvanes #10720 (ED, LS)
  
• Stock Market Trading and Market Conditions
  John M. Griffin, Federico Nardari, and Rene M. Stulz #10719 (CF, AP)
  

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Week of August 23, 2004

Latest NBER Working Papers

• Volatility Comovement: A Multifrequency Approach
  Laruent E. Calvet, Adlai J. Fisher, and Samuel B. Thompson #T300 (TWP)
  
• The Impact of Trade on Intraindustry Reallocation and Aggregate Industry Productivity: A Comment
  Richard E. Baldwin #10718 (ITI, P)
  
• Transboundary Spillovers and Decentralization of Environmental Policies
  Hilary Sigman #10717 (ENV, PE)
  
• Corporate Ownership in France: The Importance of History
  Antoin E. Murphy #10716 (CF)
  
• How Much Might Universal Health Insurance Reduce Socioeconomic Disparities in Health? A Comparison of the US and Canada
  Sandra L. Decker and Dahlia K. Remler #10715 (HE)
  
• Explaining the Evolution of Pension Structure and Job Tenure
  Leora Friedberg and Michael Owyang #10714 (A, LS)
  
• Long-Term Consequences of Secondary School Vouchers: Evidence from Administrative Records in Colombia
  Joshua Angrist, Eric Bettinger, and Michael Kremer #10713 (ED, C)
  
• CPI Bias from Supercenters: Does the BLS Know that Wal-Mart Exists?
  Jerry Hausman and Ephraim Leibtag #10712 (EFG, PE)
  
• Borrowing Constraints, College Aid, and Intergenerational Mobility
  Eric A. Hanushek, Charles Ka Yui Leung, and Kuzey Yilmaz #10711 (LS, PE, C)
  
• Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change?
  Michael L. Katz and Howard A. Shelanski #10710 (IO, P)
  
• The Effect of Malpractice Liability on the Delivery of Health Care
  Katherine Baicker and Amitabh Chandra #10709 (HE, LE)
  
• The Role and Functioning of Public-Interest Legal Organizations in the Enforcement of the Employment Laws
  Christine Jolls #10708 (LE)
  
• Optimal Expectations
  Markus K. Brunnermeir and Jonathan A. Parker #10707 (EFG, ME, AP)
  
• Interdependent Security: A General Model
  Geoffrey Heal and Howard Kunreuther #10706
  
• Abortion Legalization and Lifecycle Fertility
  Elizabeth Oltmans Ananat, Jonathan Gruber, and Phillip B. Levine #10705 (HE, C)
  
• Monetary Policy and Asset Prices: A Look Back at Past U.S. Stock Market Booms
  Michael D. Bordo and David C. Wheelock #10704 (DAE, ME, AP)
  
• Why Do Real and Nominal Inventory-Sales Ratios Have Different Trends?
  Valerie A. Ramey and Daniel J. Vine #10703 (EFG, ME)
  
• A Common Currency: Early U.S. Monetary Policy and the Transition to the Dollar
  Peter L. Rousseau #10702 (DAE, IFM, ME)
  
• The Effect of Mandated State Education Spending on Total Local Resources
  Katherine Baicker and Nora Gordon #10701 (ED, PE)
  
• How Far to the Hospital? The Effect of Hospital Closures on Access to Health Care
  Thomas C. Buchmueller, Mireille Jacobson, and Cheryl Wold #10700 (HE)
  
• What Did the "Illegitimacy Bonus" Reward?
  Sanders Korenman, Ted Joyce, Robert Kaestner, and Jennifer Walper #10699 (HE, C)
  
• Pairwise Kidney Exchange
  Alvin E. Roth, Tayfun Sonmez, and M. Utku Unver #10698 (HE)
  

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Week of August 16, 2004

Latest NBER Working Papers

• Optimal Invariant Similar Tests for Instrumental Variables Regression
  Donald W.K. Andrews, Marcelo Moreira, and James H. Stock #T299 (TWP)
  
• The Use of Predictive Regressions at Alternative Horizons in Finance and Economics
  Nelson C. Mark and Donggyu Sul #T298 (TWP)
  
• Overseas Assembly and Country Sourcing Choices
  Deborah L. Swenson #10697 (ITI)
  
• Fixed Exchange Rates and Trade
  Michael W. Klein and Jay C. Shambaugh #10696 (IFM, ITI)
  
• Do Tenured and Tenure-Track Faculty Matter?
  Ronald G. Ehrenberg and Liang Zhang #10695 (LS)
  
• Budget Windows, Sunsets, and Fiscal Control
  Alan J. Auerbach #10694 (EFG, PE)
  
• The Fiscal Burden of Korean Reunification: A Generational Accounting Approach
  Alan J. Auerbach, Young Jun Chun, and Ilho Yoo #10693 (PE)
  
• Corporate Governance, Economic Entrenchment and Growth
  Randall Morck, Daniel Wolfenzon, and Bernard Young #10692 (CF)
  
• Maternal Employment and Adolescent Development
  Christopher J. Ruhm #10691 (HE, C)
  
• Corporate Tax Evasion with Agency Costs
  Keith J. Crocker and Joel Slemrod #10690 (PE)
  
• Weak and Semi-Strong Form Stock Return Predictability, Revisited
  Wayne E. Ferson, Andrea Heuson, and Tie Su #10689 (AP)
  
• Demand for Illicit Drugs by Pregnant Women
  Hope Corman, Kelly Noonan, Nancy E. Reichman, and Dhaval Dave #10688 (HE, C)
  
• Law and Firms' Access to Finance
  Thorsten Beck, Asli Demirguc-Kunt, and Ross Levine #10687 (IFM)
  
• The Determinants of the Global Digital Divide: A Cross-Country Analysis of Computer and Internet Penetration
  Menzie D. Chinn and Robert Fairlie #10686 (IFM, ITI)
  
• Can Mutual Fund Managers Pick Stocks? Evidence from the Trades Prior to Earnings Announcements
  Malcolm Baker, Lubomir Litov, Jessica A. Wachter, and Jeffrey Wurgler #10685 (CF, AP)
  
• What is Discrimination? Gender in the American Economic Association
  Stephen Donald and Daniel S. Hamermesh #10684 (LS)
  
• Inequality Change in China and (Hukou) Labour Mobility Restrictions
  John Whalley and Shunming Zhang #10683 (ITI)
  
• Welfare Migration: Is the Net Fiscal Burden a Good Measure of Its Economic Impact on the Welfare of the Native Born Population?
  Assaf Razin and Efraim Sadka #10682 (LS, PE)
  
• Federal Government Debt and Interest Rates
  Eric M. Engen and R. Glenn Hubbard #10681 (CF, EFG, ME, PE)
  
• Refugees, Asylum Seekers and Policy in Europe
  Timothy J. Hatton and Jeffrey G. Willliamson #10680 (DAE, ITI, LS)
  

  Chapters for Forthcoming NBER Books

  Comment by Eric J. Bartelsman on "Pharmaceutical Knowledge-Capital Accumulation and Longevity"
  Frank R. Lichtenberg
  "The Valuation of Organization Capital"
  Baruch Lev and Suresh Radhakrishnan
  Comment by Timothy F. Bresnahan on "The Valuation of Organization Capital"
  Baruch Lev and Suresh Radhakrishnan
  Comment by Barry Bosworth on "Information Processing Equipment and Software in the National Accounts"
  Bruce T. Grimm, Brent R. Moulton and David B. Wasshausen
  "Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes and Interest Rates"
  W. Erwin Diewert
  Panel discussion remarks by Baruch Lev
  "A New Architecture for the U.S. National Accounts"
  Dale W. Jorgenson, J. Steven Landefeld and William D. Nordhaus, Editors
  "R&D in the National Income and Product Accounts: A First Look at Its Effect on GDP"
  Barbara M. Fraumeni and Sumiye Okubo
  "The Relation among Human Capital, Productivity and Market Value: Building Up from Micro Evidence"
  John M. Abowd, John Haltiwanger, Ron Jarmin, Julia Lane, Paul Lengermann, Kristin McCue, Kevin McKinney and Kristin Sandusky

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Week of August 9, 2004 (continued)

Latest NBER Working Papers

• Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet
  Olivier Jeanne and Lars E. O. Svensson #10679 (EFG, ME)
  
• Do Gender Stereotypes Reduce Girls' Human Capital Outcomes? Evidence from a Natural Experiment
  Victor Lavy #10678 (ED, LS, C)
  
• Detecting Medicare Abuse
  David Becker, Daniel Kessler, and Mark McClellan #10677 (HE)
  
• The X Tax in the World Economy
  David F. Bradford #10676 (ITI, PE)
  
• Portfolio Concentration and the Performance of Individual Investors
  Zoran Ivkovich, Clemens Sialm, and Scott Weisbenner #10675 (AP)
  
• Corruption in Indonesia
  J. Vernon Henderson and Ari Kuncoro #10674 (PE)
  
• Exchange Rate Regime Durability and Performance in Developing Versus Advanced Economies
  Aasim Husain, Ashoka Mody, Kenneth S. Rogoff #10673 (EFG, IFM, ME)
  
• What Does the Yield Curve Tell us about GDP Growth?
  Andrew Ang, Monika Piazzesi, Min Wei #10672 (EFG, ME, AP)
  
• Large Blocks of Stock: Prevalence, Size, and Measurement
  Jennifer Dlugosz, Rudiger Fahlenbrach, Paul Gompers, and Andrew Metrick #10670 ED, LS, C)
  
• Preschool, Day Care, and Afterschool Care: Who's Minding the Kids?
  David Blau and Janet Currie #10670 (ED, LS, C)
  
• Health in an Age of Globalization
  Angus Deaton #10669 (EFG, HE)
  
• Comparative Advantage and Heterogeneous Firms
  Andrew Bernard, Stephen Redding, and Peter K. Schott #10668 (ITI)
  
• Neighbors as Negatives: Relative Earnings and Well-Being
  Erzo F. P. Luttmer #10667 (PE)
  
• Good Principal or Good Peers? Parental Valuation of School Characteristics, Tiebout Equilibrium, and the Incentive Effects of Competition Among Jurisdictions
  Jesse Rothstein #10666 (ED, C)
  
• An Empirical Model of Stock Analysts' Recommendations: Market Fundamentals, Conflicts of Interest, and Peer Effects
  Patrick Bajari and John Krainer #10665 (IO)
  
• A Model of Forum Shopping, with Special References to Standard Setting Organizations
  Josh Lerner and Jean Tirole #10664 (CF, P)
  
• The Economic Impacts of Climate Change: Evidence from Agricultural Profits and Random Fluctuations in Weather
  Olivier Deschenes and Michael Greenstone #10663 (LS, P, PE)
  
• Two Centuries of Economic Growth: Europe Chasing the American Frontier
  Robert J. Gordon #10662 (EFG, P, DAE)
  
• Why was Europe Left at the Station When America's Productivity Locomotive Departed
  Robert J. Gordon #10661(EFG, P)
  
• Five Puzzles in the Behavior of Productivity, Investment, and Innovation
  Robert J. Gordon #10660 (EFG, P)
  

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Week of August 2, 2004

Latest NBER Working Papers

• Go Down Fighting: Short Sellers vs. Firms
  Owen A. Lamont #10659 (CF, AP)
  
• Evaluating the Impact of the D.C. Tuition Assistance Program
  Thomas Kane #10658 (ED, PE, C)
  
• Economic and Political Liberalizations
  Francesco Giavazzi and Guido Tabellini #10657 (IFM)
  
• Minimum Wage Effects in the Longer Run
  David Neumark and Olena Nizalova #10656 (LS)
  
• Search-Theoretic Models of the Labor Market: A Survey
  Richard Rogerson, Robert Shimer, and Randall Wright #10655 (EFG, LS)
  
• Free Banking and Bank Entry in Nineteenth Century New York
  Howard Bodenhorn #10654 (DAE, ME)
  
• Sex Differences in Morbidity and Mortality
  Anne Case and Christina Paxson #10653 (A, HE)
  
• Modeling Inventories Over the Business Cycle
  Aubhik Khan and Julia K. Thomas #10652 (EFG)
  
• On the Importance of Measuring Payout Yield: Implications for Empirical Asset Pricing
  Jacob L. Boudoukh, Roni Michaely, Matthew Richardson, and Michael Roberts #10651 (AP)
  
• Do a Firm's Equity Returns Reflect the Risk of Its Pension Plan?
  Li Jin, Robert C. Merton, and Zvi Bodie #10650 (AP)
  
• China's Post Accession WTO Stance
  Glenda Mallon and John Whalley #10649 (ITI)
  
• Illicit Drug Use Among Arrestees and Drug Prices
  Dhaval Dave #10648 (HE)
  
• Estimating the Effects of a Time Limited Earning Subsidy for Welfare Leavers
  David Card and Dean R. Hyslop #10647 (LS, PE)
  
• Can Inflation Targeting Work in Emerging Market Countries?
  Frederic S. Mishkin #10646 (EFG, IFM, ME)
  
• Do the Rich Flee from High State Taxes? Evidence from Federal Estate Tax Returns
  Jon Bakija and Joel Slemrod #10645 (PE)
  
• Behavioral Finance in Corporate Governance Independent Directors and Non-Executive Chairs
  Randall Morck #10644 (CF)
  
• International Innovation and Diffusion of Air Pollution Control Technologies: The Effects of NOX and SO2 Regulation in the U.S., Japan, and Germany
  David Popp #10643 (P)
  
• Deflationary Bubbles
  Willem H. Buiter and Anne C. Sibert #10642 (EFG, IFM, ME)
  
• The History and Politics of Corporate Ownership in Sweden
  Peter Hogfeldt #10641 (CF)
  
• Scientific Teams and Institutional Collaborations: Evidence from U.S. Universities, 1981-1999
  James D. Adams, Grant C. Black, J. Roger Clemmons, and Paula E. Stephan #10640 (P)
  
• Auctions with Resale When Private Values are Uncertain: Theory and Empirical Evidence
  Andreas Lange, John A. List, and Michael Price #10639 (IO, PE)
  
• Specialization, Factor Accumulation and Development
  Doireann Fitzgerald and Juan Carlos Hallak #10638 (ITI)
  
• Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia, Costa Rica, and Mexico
  Enrique G. Mendozam and Pedro Marcelo Oviedo #10637 (PE)
  
• Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?
  Jordi Gali and Pau Rabanal #10636 (EFG, ME)
  
• The Rise and Fall of the Widely Held Firm A History of Corporate Ownership in Canada
  Randall Morck, Michael Percy, Gloria Tian, and Bernard Yeung #10635 (CF)
  

  Chapters for Forthcoming NBER Books

  "The History of Corporate Ownership in China: State Patronage, Company Legislation, and the Issue of Control"
  William Goetzmann and Elisabeth Köll
  Comment by Dwight Perkins on "The History of Corporate Ownership in China: State Patronage, Company Legislation, and the Issue of Control"
  William Goetzmann and Elisabeth Koll
  "Characterizing the Experiences of High-Cost Users in Medicare"
  Thomas MaCurdy and Jeff Geppert

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Week of July 12, 2004

Latest NBER Working Papers

• On the Relationship Between Determinate and MSV Solutions in Linear RE Models
  Bennett T. McCallum #T297 (TWP)
  
• A New Look at Racial Profiling: Evidence from the Boston Police Department
  Kate L. Antonovics and Brian G. Knight #10634 (PE)
  
• Are Migrants More Skilled than Non-Migrants? Repeat, Return and Same-Employer Migrants
  Jennifer Hunt #10633 (LS)
  
• Measuring the Effects of Workplace on Productivity With Team Production
  Sean Nicholson, Mark V. Pauly, Daniel Polsky, Claire Sharda, Helena Szrek, and Marc L. Berger #10632 (LS, P)
  
• The Source of Historical Economic Fluctuations: An Analysis using Long-Run Restrictions
  Neville Francis and Valerie A. Ramey #10631 (EFG, ME)
  
• Capital Income Taxation in the Globalized World
  Assaf Razin and Efraim Sadka #10630 (IFM, PE)
  
• Unmasking the Pollution Haven Effect
  Arik Levinson and M. Scott Taylor #10629 (ENV, ITI)
  
• Spending Less Time with the Family: The Decline of Family Ownership in the UK
  Julian Franks, Colin Mayer, Stefano Rossi (CF)
  
• Using Investment Data to Assess the Importance of Price Mismeasurement
  Diego Comin #10627 (EFG)
  
• Direct Investment, Rising Real Wages and the Absorption of Excess Labor in the Periphery
  Michael P. Dooley, David Folkerts-Landau, and Peter Garber #10626 (IFM)
  
• R&D: A Small Contribution to Productivity Growth
  Diego Comin #10625 (P)
  
• Sources for Financing Domestic Capital - Is Foreign Saving a Viable Option for Developing Countries?
  Joshua Aizenman, Brian Pinto, and Artur Radziwill #10624 (ITI)
  
• How Have Borrowers Fared in Banking Mega-Mergers?
  Kenneth A. Carow, Edward J. Kane, and Rajesh Narayanan #10623 (CF)
  
• Performance Pay and Teachers' Effort, Productivity and Grading Ethics
  Victor Lavy #10622 (ED, LS)
  
• The Wage Gains of African-American Women in the 1940s
  William J. Collins and Martha J. Bailey #10621 (DAE, LS)
  
• The Design of Financial Systems: Towards a Synthesis of Function and Structure
  Robert C. Merton and Zvi Bodie #10620 (AP)
  
• The Effects of Cocaine and Heroin Price on Drug-Related Emergency Department Visits
  Dhaval Dave #10619 (HE)
  
• Education, Redistribution, and the Threat of Brian Drain
  Alexander Haupt and Eckhard Janeba #10618 (ITI, LS)
  
• Evaluating the Calvo Model of Sticky Prices
  Martin Eichenbaum and Jonas D.M. Fisher #10617 (EFG, ME)
  
• The Macroeconomy and the Yield Curve: A Dynamic Latent Factor Approach
  Francis X. Diebold, Glenn D. Redebusch, and S. Boragan Aruoba #10616 (EFG, ME, AP)
  
• A Continuous-Time Agency Model of Optimal Contracting and Capital Structure
  Peter M. DeMarzo and Yuliy Sannikov #10615 (CF, AP)
  
• Unbiased Estimation of the Half-Life to PPP Convergence in Panel Data
  Chi-Young Choi, Nelson Mark, and Donggyu Sul #10614 (IFM)
  
• The Evolution of Concentrated Ownership in India Broad Patterns and a History of the Indian Software Industry
  Tarun Khanna and Krishna Palepu #10613 (CF, IO)
  
• Targeting vs. Instrument Rules for Monetary Policy
  Bennett T. McCallum and Edward Nelson #10612 (EFG, ME)
  
• Liquidity Constraints and Housing Prices: Theory and Evidence from the VA Mortgage
  Jacob L. Vigdor #10611 ( PE)
  

  Chapters for Forthcoming NBER Books

  "The Differences in the Economic Effects Between the DB Plan and the DC Plan"
  Tomohiko Takeuchi and Toshiaki Tachibanaki
  "The History and Politics of Corporate Ownership in Sweden"
  Peter Högfeldt
  "The History of Corporate Ownership and Control in Germany"
  Caroline Fohlin

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