---

New This Week Archive

NBER Working Papers released in the past, by week.

---

Week of September 26, 2005

Latest NBER Working Papers

• Saving Incentives for Low- and Middle-Income Families: Evidence from a Field Experiment with H & R Block
  Esther Duflo, William Gale, Jeffrey Liebman, Peter Orszag and Emmanuel Saez #11680 (PE)
  
• The Climate for Business Development and Employment Growth in Puerto Rico
  Steven j. Davis and Luis Rivera-Batiz #11679 (EFG, LS)
  
• Job Loss, Job Finding, and Unemployment in the U.S. Economy Over the Past Fifty Years
  Robert E. Hall #11678 (EFG, LS)
  
• Health Risk, Income, and the Purchase of Private Health Insurance
  M. Kate Bundorf, Bradley Herring and Mark Pauly #11677 (HC, PE)
  
• Price Discrimination, Copyright Law and Technological Innovation: Evidence from the Introduction of DVDs
  Julia Holland Mortimer #11676 (IO)
  
• Fractional Treatment Rules for Social Diversification of Indivisible Private Risks
  Charles F. Manski #11675 (PE)
  
• Minorites and Storable Votes
  Alessandra Casella, Thomas Palfrey and Raymond Riezman #11674 (ME, PE)
  
• Estimation and Identification of Merger Effects: An Application to Hospital Mergers
  Leemore S. Dafny #11673 (HC, IO)
  
• Rethinking the Gains from Immigration: Theory and Evidence from the U.S.
  Gianmarco I.P. Ottaviano and Giovanni Peri #11672 (ITI, LS)
• Complementarities and Collusion in an FCC Spectrum Auction
  Patrick Bajari and Jeremy T. Fox #11671 (IO)
  
• Expanding School Enrollment by Subsidizing Private Schools: Lessons from Bogota
  Claudia Uribe, Richard J. Murname, John B. Willet and Marie-Andree Somers #11670 (ED)
  
• The End of Large Current Account Deficits, 1970-2002: Are There Lesson for the United States?
  Sebastian Edwards #11669 (EFG, IFM, ME)
  
• Will China Eat Our Lunch or Take Us to Dinner? Simulating the Transition Paths of the U.S., EU, Japan, and China
  Hans Fehr and Sabine Jokisch #11668 (EFG, IFM, ITI)
  
• The Effect of Joint and Several Liability Under Superfund on Brownfields
  Howard F. Chang and Hilary Sigman #11667 (LE, PE, EE)
  
• Pillar 1 vs. PPillar 2 Under Risk Management
  Loriana Pelizzon and Stephen Schaefer #11666 (AP, ME, FR)
  
• Tax Reform and Environmental Taxation
  Gilbert E.Metcalf #11665 (PE, EE)
  
• Media Bias and Reputation
  Matthew Gentzkow and Jesse M. Shapiro #11664 (LS, PE, ENS)
  
• Religious Extremism: The Good, The Bad, and The Deadly
  Eli Bermand and Laurence R. Iannaccone #11663 (LS, ENS)
  
• Hospital Ownership and Financial Performance: A Quantitatvie Research Review
  Yu-Chu Shen, Karen Eggleston, Joseph Lau and Christopher Schmid #11662 (HC)
  
• Puzzling Tax Structures in Developing Countries: A Comparison of Two Alternative Explanations
  Roegr Gordon and Wei Li #11661 (PE)
  
• Teachers and the Gender Gaps in Student Achievement
  Thomas S. Dee #11660 (CH, ED)
  
• How Unobservable Productivity Biases the Value of a Statistical Life
  Thomas J. Kniesner, W. Kip Vicusi, Christopher Woock and James P. Ziliak #11659 (HE, LE, PE)
  
• Effects of Employment Protection on Worker and Job Flows: Evidence from the 1990 Italian Reform
  Adriana Kugler and Giovanni Pica #11658 (LE, PE)
• What Undermines Aid's Impact on Growth?
  Raghuram G. Rajan and Arvind Subramanian #11657 (IFM, PE)
  
• Factor Adjustments After Deregulation: Panel Evidence from Colombian Plants
  Marcela Eslava, John Haltiwanger, Adriana Kugler and Maurice Kugler #11656 (EFG, PR)
  
• Is It Is or Is It Ain't My Obligation? Regional Debt in a Fiscal Federation
  Russell Cooper, Hubert Kempf and Dan Peled #11655 (EFG, PE)
  
• The Decline of the Independent Inventor: A Schumpterian Story?
  Naomi R. Lamoreaux and Kenneth L. Sokoloff #11654 (DAE, PR)
  
• Trade Invoicing in the Accession Countries: Are They Suited to the Euro?
  Linda Goldberg #11653 (IFM, ITI)
  
• Pegged Exchange Rate Regimes - A Trap?
  Joshua Aizenman and Reuven Glick #11652 (IFM)
  
• Separating the Business Cycle from Other Economic Fluctuations
  Robert E. Hall #11651 (EFG)
  
• Heterogeneous Firms, Agglomeration and Economic Geography: Spatial Selection and Sorting
  Richard Baldwin and Toshihiro Okubo #11650 (ITI)
  
• Entry and Competition in Local Hospital Markets
  Jean M. Abraham, Martin S. Gaynor and William B. Vogt #11649 (HC, IO)
  
• Trusting the Stock Market
  Luigi Guiso, Paola Sapienza and Luigi Zingales #11648 (CF)
  
• Employment Dynamics and Business elocation: New Evidence from the National Establishment Time Series
  David Neumark, Junfu Zhang and Brandon Wall #11647 (LS)
  
• Monetary-Fiscal Policy Interactions and the Price Level: Background and Beyond
  Eric M. Leeper and Tack Yun #11646 (EFG)
  
• Barriers to Entry
  Dennis W. Carlton #11645 (IO)
  
• Who Are the Greatest Living Artists? The View from the Auction Market
  David W. Galenson #11644 (AP, LS)

---

Week of September 19, 2005

Latest NBER Working Papers

• Instrumental Variables Methods in Experimental Criminological Research: What, Why, and How?
  Joshua Angrist #T0314 (TWP)
  
• Assessing High House Prices: Bubbles, Fundamentals, and Misperceptions
  Charles Himmelberg, Christopher Mayer and Todd Sinai #11643 (AP, PE, UE)
  
• Technology Adoption In and Out of Major Urban Areas: When Do Internal Firm Resources Matter Most?
  Chris Forman, Avi Goldfarb and Shane Greenstein #11642 (IO, PR, UE)
  
• Globalization and Inflation-Output Tradeoffs
  Assaf Razin and Prakash Loungani #11641 (IFM, ITI)
  
• Capital Flows and Controls in Brazil: What Have We Learned?
  Ilan Goldfajn and Andre Minella #11640 (IFM)
  
• Bilateral FDI Flows: Threshold Barriers and Productivity Shocks
  Assaf Razin, Efraim Sadka and Hui Tong #11639 (IFM, PR)
  
• Modeling Exchange-Rate Passthrough After Large Devaluations
  Ariel Burstein, Martin Eichenbaum and Sergio Rebelo #11638 (EFG, IFM)
  
• Tradability, Productivity, and Understanding International Economic Intergration
  Paul R. Bergin and Reuven Glick #11637 (IFM, ITI)
  
• Do School-To-Work Programs Help the "Forgotten Half"?
  David Neumark and Donna Rothstein #11636 (ED, LS)
  
• Bribery: Who Pays, Who Refuses, What Are the Payoffs?
  Jennifer Hunt and Sonia Laszlo #11635 (LS)
  
• Current Account Reversals: Always a Problem?
  Barry Eichengreen and Muge Adalet #11634 (DAE, IFM, ME)
  
• Rational Inattention: A Solution to the Forward Discount Puzzle
  Philippe Bacchetta and Eric van Wincoop #11633 (IFM)
  
• Exchange-Rate Pass-Through to Import Prices in the Euro Area
  Jose Manuel Campa, Linda S. Goldberg and Jose M. Gonzalez-Minguez #11632 (IFM)
  
• The Law and Economics of Antidiscrimination Law
  John J. Donohue III #11631 (LE)
  
• Deficits and Debt in the Short and Long Run
  Benjamin Friedman #11630 (EFG, ME, PE)
  

---

Week of September 12, 2005

Latest NBER Working Papers

• Hours Worked: Long-Run Trends
  Jeremy Greenwood and Guillaume Vandenbroucke #11629 (EFG, LS)
  
• Rising Wage Inequality: The Role of Composition and Prices
  David H. Autor, Lawrence F. Katz and Melissa Kearney #11628 (EFG, LS)
  
• Trends in U.S. Wage Inequality: Re-Assessing the Revisionists
  David H. Autor, Lawrence F. Katz and Melissa Kearney #11627 (ED, EFG, LS)
  
• Distributional Impacts of the Self-Sufficiency Project
  Marianne P. Bitler, Jonah B. Gelbach and Hilary Hoynes #11626 (LS, PE)
  
• Can a Rapidly-Growing Export-Oriented Economy SMoothly Exit an Exchange Rate Peg? Lessons for China from Japan's High-Growth Era
  Barry Eichengreen and Mariko Hatase #11625 (IFM)
  
• Venture Capital Contracting and Syndication: An Experiment in Computational Corporate Finance
  Zsuzsanna Fluck, Kedran Garrison and Stwewart C. Myers #11624 (CF)
  
• Supporting "The Best and Brightest" in Science and Engineering: NSF Graduate Research Fellowships
  Richard B. Freeman, Tanwin Chang and Hanley Chiang #11623 (LS, PR)
  
• Does Social Secuiryt Privatization Produce Efficiency Gains?
  Shinichi Nishiyama and Kent Smetters #11622 (AG, PE)
  
• Welfare Reform, Returns to Experience, and Wages: Using Reservation Wages to Account for Sample Selection Bias
  Jeffrey Grogger #11621 (LS, PE)
  
• Death and Development
  Peter Lorentzen, John McMillan and Romain Wacziarg #116205 (EFG, IFM)
  
• The Aggregate Effects of Health Insurance: Evidence from the Introduction of Medicare
  Amy Finkelstein #11619 (AG, HC, PE)
  
• Bubbles and Capital Flow Volatility: Causes and Risk Management
  Richard J. Caballero and Arvind Krishnamurthy #11618 (EFG, IFM, ME, FR)
  
• The Divergence of Human Capital Levels Across Cities
  Christopher R. Berry and Edward L. Glaeser #11617 (EFG, UE)
  
• The Behavioralist Meets the Market: Measuring Social Preferences and Reputation Effects in Actual Transactions
  John A. List #11616 (PE, BE)
  
• Smart Cities: Quality of Life, Productivity, and the Growth Effects of Human Capital
  Jesse M. Shapiro #11615 (LS, UE)
  

---

Week of September 5, 2005

Latest NBER Working Papers

• Trade Liberalization, Poverty and Inequality: Evidence from Indian Districts
  Petia Topalova #11614 (ITI)
  
• The Effect of Child Access Prevention Laws on Non-Fatal Gun Injuries
  Jeff Desimone and Sara Markowitz #11613 (HE)
  
• Recent Trends in Resource Sharing Among the Poor
  Steven J. Haider and Kathleen McGarry #11612 (AG)
  
• Toward an Understanding of the Economics of Charity: Evidence from a Field Experiment
  Craig Landry, Andreas Lange, John A. List, Michael K. Price and Nicholas G. Rupp #11611 (PE)
  
• Native Internal Migration and the Labor Market Impact of Immigration
  George J. Borjas #11610 (LS)
  
• What Did Medicare Do (And Was It Worth It)?
  Amy Finkelstein and Robin McKnight #11609 (AG, HC, PE)
  
• Estimating Bank Trading Risk: A Factor Model Approach
  James O'Brien and Jeremy Berkowitz #11608 (AP, FR)
  
• "Aggregation Bias" DOES Explain the PPP Puzzle
  Jean Imbs, Haroon Mumtaz, Morten O. Ravn and Helene Rey #11607 (IFM)
  
• Euler Equation Errors
  Martin Lettau and Sydney C. Ludvigson #11606 (AP)
  
• Disability Risk and the Value of Disability Insurance
  Amitabh Chandra and Andrew A. Samwick #11605 (HC, LS, PE)
  
• Building the Stock of College-Educated Labor
  Susan Dynarski #11604 (ED, LS)
  
• The Industrial Organization or Markets with Two-Sided Platforms
  David S. Evans and Richard Schmalensee #11603 (IO)
  
• Insurance and Innovation in Health Care Markets
  Darius Lakdawalla and Neeraj Sood #11602 (HC)
  
• Lifecycle Prices and Production
  Mark Aguiar and Erik Hurst #11601 (EFG, PE)
  
• Why is Fiscal Policy Often Procyclical
  Alberto Alesina and Guido Tabellini #11600 (EFG, PE, POL)
  

---

Week of August 29, 2005

Latest NBER Working Papers

• Workplace Segregation in the United States: Race, Ethnicity, and Skill
  Judith Hellerstein and David Neumark #11599 (LS)
  
• The 2004 Global Labor Survey: Workplace Institutions and Practices Around the World
  Davin Chor and Richard B. Freeman #11598 (LS)
  
• Do Accountability and Voucher Threats Improve Low-Performing Schools?
  David N. Figlio and Cecilia Elena Rouse #11597 (CH, ED)
  
• Declining Volatility in the U.S. Automobile Industry
  Valerie A. Ramey and Daniel J. Vine #11596 (EFG)
  
• Why Are Some Public Offiicals More Corrupt Than Others?
  Jennifer Hunt #11595 (LE, LS)
  
• Wealth Transfers from Implementing Real-Time Retail Electricity Pricing
  Severin Borenstein #11594 (IO)
  
• Searching for Non-Monotnic Effects of Fiscal Policy: New Evidence
  Francesco Giavazzi, Tullio Jappelli, Marco Pagano and Marina Benedetti #11593 (EFG)
  
• Eat, Drink, Firms and Government: An Investigation of Corruption from Entertainment and Travel Costs of Chinese Firms
  Hongbin Cai, Hanming Fang and Lixin Colin Xu #11592 (PE, CE)
  
• Evidence That Seat Belts Are As Effective As Child Safety Seats in Preventing Death for Children Aged Two and Up
  Steven D. Levitt #11591 (CH, LE, PE)
  
• Endogenous Fertility, Morality and Economic Growth: Can a Malthusian Framework Account for the Conflicting Historical Trends in Population?
  Isaac Ehrlich and Jinyuong Kim #11590 (HE)
  
• What Are Firms? Evolution from Birth to Public Companies
  Philip R. Lane and Gian Maria Milesi-Ferretti #11589 (IFM)
  

---

Week of August 22, 2005

Latest NBER Working Papers

• Inference with Weak Instruments
  Donald W.K. Andrews and James H. Stock #T313 (TWP)
  
• Commitment, Risk, and Consumption: Do Birds of a Feather Have Bigger Nests?
  Stephen H. Shore and Todd Sinai #11588 (EFG, LS, PE)
  
• The Intergenerational Effects of Worker Displacement
  Philip Oreopoulos, Marianne Page and Ann Huff Stevens #11587 (CH, LS)
  
• Seventy Years of Central Banking: The Bank of Canada in International Context, 1935-2005
  Michael D. Bordo and Angela Redish #11586 (DAE, ME)
  
• Determinants of City Growth in Brazil
  Daniel da Mata, U. Deichmann, J. Vernon Henderson, Subir V. Lall and H.G. Wang #11585 (PE)
  
• The Super Size of America: An Economic Estimation of Body Mass Index and Obesity in Adults
  Inas Rashad, Michael Grossman and Shin-Yi Chou #11584 (HE)
  
• Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing
  Hamid Faruqee, Douglas Laxton, Dirk Muir and Paolo Pesenti #11583 (IFM)
  
• Michael Grossman
  Education and Nonmarket Outcomes #11582 (ED, HC, HE)
  
• What Are Firms? Evolution from Birth to Public Companies
  Steven Kaplan, Berk A. Sensoy and Per Stromberg #11581 (CF, IO)
  

---

Week of August 15, 2005

Latest NBER Working Papers

• Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idionsyncratic
  Andrew K. Rose, Zsolt Darvas and Gyorgy Szapary #11580 (EFG, IFM)
  
• How Much Do Banks Use Credit Derivatives to Reduce Risk?
  Bernadette Minton, Rene M. Stulz and Rohan Williamson #11579 (AP, CF)
  
• Understanding the Effects of Government Spending on Consumption
  Jordi Gali, J. David Lopez-Salido and Javier Valles #11578 (EFG)
  
• Experimental Analysis of Neighborhood Effects
  Jeffrey R. Kling, Jeffrey B. Leibman and Lawrenze F. Katz #11577 (CH, LS, PE, UE)
  
• Insuring Consumption and Happiness Through Religious Organizations
  Rajeev Dehejia, Thomas DeLeire and Erzo F.P. Luttmer #11576 (LS, PE)
  
• Products and Productivity
  Peter K. Schott, Andrew B. Bernard and Stephen J. Redding #11575 (ITI, PR)
  
• Fiscal Policy and the Term Structure of Interest Rates
  Qiang Dai and Thomas Philippon #11574 (AP, EFG)
  
• The Economics of Fraudulent Accounting
  Simi Kedia and Thomas Philippon #11573 (AP, EFG)
  
• Why Does the Average Price of Tuna Fall During Lent?
  Aviv Nevo and Konstantinos Hatzitaskos #11572 (IO)
  
• Wake Up and Smell the Ginseng: The Rise of Incremental Innovation in Low-Wage Countries
  Diego Puga and Daniel Trefler #11571 (ITI, PR, ENT)
  
• Diversity and Redistribution
  Raquel Fernandez and Gilat Levy #11570 (PE, POL)
  
• Fertility: The Role of Culture and Family Experience
  Raquel Fernandez and Alessandra Fogli #11569 (CH, ED, LS)
  
• The Impact of Child SSI Enrollment on Household Outcomes: Evidence from the Survery of Income and Program Participation
  Mark Duggan and Melissa Kearney #11568 (CH, ED, HC, PE)
  
• Biology as Destiny? Short and Lnog-Run Determinants of Intergenerational Trasmission of Birth Weight
  Janet Currie and Enrico Moretti #11567 (CH, ED, LS)
  
• The Economics of Workaholism: We Should Not Have Worked on This Paper
  Daniel S. Hamermesh and Joel Slemrod #11566 (LS, PE)
  
• Collateral Damage: Trade Disruption and the Economic Impact of War
  Reuven Glick and Alan M. Taylor #11565 (DAE, ITI, ENS)
  
• The Returns on Human Capital: Good News on Wall Street is Bad News on Main Street
  Hanno Lustig and Sitjn Van Nieuwerburgh #11564 (AP, EFG)
  
• From World banker to Venture Capitalist: US External Adjustment and the Exorbitant Privilege
  Pierre-Olivier Gourinchas and Helene Rey #11563 (EFG, IFM)
  
• The Incredible Volcker Disinflation
  Marvin Goodfriend and Robert King #11562 (EFG, ME)
  
• Is Academic Science Driving a Surge in Industrial Innovation? Evidence from Patent Citations
  Lee Branstetter and Yoshiaki Ogura #11561 (PR, HEd)
  
• Borrowing Constraints and Consumption Behavior in Japan
  Midori Wakabayashi and Charles Yuji Horioka #11560 (EFG)
  
• Solving Models with External Habits
  Jessica A. Wachter #11559 (AP)
  

  Chapters for Forthcoming NBER Books

  Comment by Charles Engel on "Trade Invoicing in the Accession Countries: Are They Suited to the Euro?"
  by Linda S. Goldberg
  Comment by José De Gregorio on "From World Bank to World Venture Capitalist: U.S. External Adjustment and The Exorbitant Privilege"
  by Pierre-Olivier Gourinchas and Hélène Rey
  Comment by Shang-Jin Wei on "Direct Investment, Rising Real Wages and the Absorption of Excess Labor in the Periphery"
  by Michael P. Dooley, David Folkerts-Landau and Peter Garber
  Comment by Raj Chetty on "Policy Options for Financing the Future Health and Long-Term Care Costs in Japan"
  by Tadashi Fukui and Yasushi Iwamoto
  "Puzzling Tax Structures in Developing Countries: A Comparison of Two Alternative Explanations"
  by Roger Gordon and Wei Li
  "Income Risk and the Benefits of Social Insurance: Evidence from Indonesia and the United States"
  by Raj Chetty and Adam Looney

---

Week of August 8, 2005

Latest NBER Working Papers

• Work Disability is a Pain in the *****, Especially in England, the Netherlands, and the United States
  James Banks, Arie Kapteyn, James P. Smith and Arthur van Soest #11558 (AG, HC)
  
• Real Output in Mental Health Care During the 1990s
  Ernst R. Berndt, Alisa B. Busch, Richard G. Frank and Sharon-Lise Normand #11557 (HC, PR)
  
• The Highest Price Ever: the Great NYSE Seat Sale of 1928-1929 and Capacity Constraints
  Lance E. Davis, Larry Neal and Eugene N. White #11556 (DAE, MM)
  
• Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?
  Lucia Foster, John Haltiwanger and Chad Syverson #11555 (EFG, PR)
  
• $100 Bills on the Sidewalk: Suboptimal Saving in 401(k) Plans
  James Choi, David Laibson and Brigitte Madrian #11554 (AG, EFG, PE)
  
• Vehicle Choices, Miles Driven, and Pollution Policies
  Ye Feng, Don Fullerton and Li Gan #11553 (PE, EE)
  
• The Diffusion of Mexican Immigrants During the 1990s: Explanations and Impacts
  David Card and Ethan G. Lewis #11552 (LS)
  
• The Marginal Product of Capital
  Francesco Caselli and James Feyrer #11551 (EFG)
  
• Globalization and Emerging Markets: With or Without Crash?
  Helene Rey and Philippe Martin #11550 (IFM, ITI)
  
• The Formation and Evolution of Physician Treatment Styles: An Application to Cesarean Sections
  Andrew Epstein and Sean Nicholson #11549 (HC)
  
• Apparel Prices 1914-93 and the Hulten/Brueghel Paradox
  Robert J. Gordon #11548 (DAE, EFG)
  
• Is the New Immigration Really So Bad?
  David Card #11547 (CH, ED, LS)
  

---

Week of August 1, 2005

Latest NBER Working Papers

• An Empirical Model of Growth Through Product Innovation
  Dale T. Mortensen and Rasmus Lentz #11546 (EFG)
  
• The Methods and Careers of Leadnig American Painters in the Late Nineteenth Century
  David W. Galenson #11545 (LS, PR)
  
• Earnings Functions, Rates of Return and Treatment: The Mincer Equation and Beyond
  James J. Heckman, Lance J. Lochner and Petra E. Todd #11544 (LS)
  
• The Dot-Com Bubble, the Bush Deficits, and the U.S. Current Account
  Jaume Ventura and Aart Kraay #11543 (EFG, IFM, PE)
  
• Academic Freedom, Private-Sector Focus, and the Process of Innovation
  Philippe Aghion, Mathias Dewtriapont and Jeremy C. Stein #11542 (CF, EFG, PR)
  
• Is The U.S. Current Account Deficit Sustainable? And If Not, How Costly is Adjustment Likely To Be?
  Sebastian Edwards #11541 (IFM)
  
• Competition and Productivity in Japanese Manufacturing Industries
  Yosuke Okada #11540 (PR)
  
• The Collection Efficiency of the Value Added Tax: Theory and International Evidence
  Joshua Aizenman, Yothin Jinjarak #11539 (ITI, PE)
  
• Do Macro Variables, Asset Marketsm or Surveys Forecast Inflation Better?
  Andrew Ang, Geert Bekaert and Min Wei #11538 (EFG, AP)
  
• Social Value of Public Information: Morris and Shin (2002) is Actualy Pro Transparency, not Con
  Lars E.O. Svensson #11537 (ME)
  
• Economic Analysis of Corporate and Personal Bankruptcy Law
  Michelle J. White #11536 (LE)
  
• Incentive and Prosocial Behavior
  Roland Benabou and Jean Tirole #11535 (PE)
  
• How Do House Prices Affect Consumption? Evidence from Micro Data
  John Y. Campbell and Joao F. Cocco #11534 (EFG, ME, AP)
  

  Chapters for Forthcoming NBER Books

  Introduction to "Social Security Programs and Retirement around the World: Fiscal Implications"
  by Jonathan Gruber and David A. Wise
  "Sustainable External Debt Levels: Estimates for Selected Asian Countries"
  Roberto Mariano and Delano Villanueva
  "Measuring the Effectiveness of Fiscal Policy in Korea"
  Seok Kyun Hur
  "Social Insurance in Developing Economies"
  Raj Chetty and Adam Looney
  "Estate and Gift Taxation in Taiwan: An Analysis of the Current System and Some Proposals for Reform"
  Chih-Chin Ho
  "Australian Government Balance Sheet Management"
  Wilson Au Yeung, Jason McDonald and Amanda Sayegh
  "The Direct Substitution between Government and Private Consumption in East Asia"
  Yum-Keung Kwan
  "Policy Options for Financing the Future Health and Long-Term Care Costs in Japan"
  Yasushi Iwamoto
  "Dealing with Contingent Liabilities: The Philippines"
  Gilberto Llanto
  "Reforming the Fiscal Management System in Korea"
  Young-Sun Koh
  "Population Aging, Fiscal Policies, and National Saving: Prediction for Korean Economy"
  Young Jun Chun
  "Sustainability, Debt Management, and Public Debt Policy in Japan"
  Takero Doi, Toshihiro Ihori and Kiyoshi Mitsui

---

Week of July 25, 2005

Latest NBER Working Papers

• Notes for a Contingent Claims Theory of Limit Order Markets
  Bruce N. Lehmann #11533 (AP)
  
• Digital Rights and the Pricing of Digital Products
  Yooki Park and Suzanne Scotchmer #11532 (LE, PR)
  
• Why Do Politicians Delegate?
  Alberto Alesina and Guido Tabellini #11531 (ME, PE)
  
• How Do Friendships Form?
  Bruce Sacerdote and David Marmaros #11530 (CH)
  
• Health Insurance and the Obesity Externality
  Jay Bhattacharya and Neeraj Sood #11529 (HE)
  
• The Anatomy of Start-Stop Growth
  Benjamin F. Jones and Benjamin A. Olken #11528 (EFG)
  
• Mexican Entrepreneurship: A Comparison of Self-Employment in Mexico and the United States
  Robert Fairlie and Christopher Woodruff #11527 (ITI, LS)
  
• Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns
  Andrea Frazzini and Owen A. Lamont #11526 (CF, AP)
  
• Antitrust in Innovative Industries
  Ilya Segal and Michael Whinston #11525 (IO)
  
• The International Dynamics of R&D and Innovation in the Short and in the Long Run
  Laura Bottazzi and Giovanni Peri #11524 (ITI, PR)
  
• Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models
  Andrew T. Levin, Alexei Onatski, John C. Williams and Noah Williams #11523 (EFG, ME)
  
• The Impact of Child Support Enforcement on Fertility, Parental Investment and Child Well-Being
  Anna Aizer and Sara McLanahan #11522 (CH)
  
• A Primer on Real Effective Exchange Rates: Determinants, Overvaluation, Trade Flows, and Competitive Devaluation
  Menzie D. Chinn #11521 (IFM)
  
• Savings Gluts and Interest Rates: The Missing Link to Europe
  Michael P. Dooley, David Folkerts-Landau and Peter M. Garber #11520 (IFM, LE)
  
• Evaluating Labor Market Reforms: A General Equilibrium Approach
  Cesar Alonso-Borrego, Jesus Fernandez-Villaverde and Jose E. Galdon-Sanchez #11519 (EFG)
  
• Behavioral Public Economics: Welfare and Policy Analysis with Non-Standard Decision Makers
  B. Douglas Bernheim and Antonio Rangel #11518 (HE, PE)
  
• Regime-Switching Behavior of the Term Structure of Forward Markets
  Elena Tchernykh and William H. Branson #11517 (IFM)
  
• Do Stronger Intellectual Property Rights Increase International Technology Transfer? Empirical Evidence from U.S. Firm-Level Data
  Lee Branstetter, Raymond Fisman and C. Fritz Foley #11516 (ITI, PR)
  

---

Week of July 18, 2005

Latest NBER Working Papers

• How the Internet Lowers Prices: Evidence from Matched Survey and Autp Transaction Data
  Florian Zettelmeyer, Fiona Scott Morton and Jorge Silva-Risso #11515 (IO)
  
• Information and Consumer Choice: The Value of Publicized Health Plan Ratings
  Ginger Zhe Jin and Alan T. Sorensen #11514 (IO)
  
• Aid and Growth: What Does the Cross-Country Evidence Really Show?
  Raghuram G. Rajan and Arvnid Subramanian #11513 (IFM)
  
• Gender and Assimilation Among Mexiacn Americans
  Francine D. Blau and Lawrence M. Kahn #11512 (CH, ED, LS)
  
• Inequality
  Edward L. Glaeser #11511 (IFM, PE)
  
• Will the Euro Eventually Surpass the Dollar as Leading International Reserve Currency?
  Menzie Chinn and Jeffrey Frankel #11510 (IFM)
  
• Future Prices in a Production Economy with Investment Constraints
  Leonid Kogan, Dmitry Livdan and Amir Yaron #11509 (AP)
  
• Contractionary Currency Crashes in Developing Countries
  Jeffrey A. Frankel #11508 (IFM)
  
• Separate When Equal? Racial Inequality and Residential Segregation
  Patrick Bayer, Hanming Fang and Robert McMillan #11507 (ED, PE)
  
• Matching and Price Competition
  Jeremy Bulow and Jonathan Levin #11506 (IO)
  
• Why Do Firms Become Widely Held? An Analysis of the Dynamics of Corporate Ownership
  Jean Helwege, Christo Pirinsky and Rene M. Stulz #11505 (AG, AP)
  
• The Changing Role of Auditors in Corporate Tax Planning
  Edward L. Maydew and Douglas A. Shackelford #11504 (PE)
  
• A Theory of Growth and Volatility at the Aggregate and Firm Level
  Diego Comin and Sunil Mulani #11503 (EFG)
  
• Law, Endowments, and Property Rights
  Ross Levine #11502 (IFM, LE)
  
• Toward Abstraction: Ranking European Painters of the Early Twentieth Century
  David W. Galenson #11501 (LS)
  
• Bank Concentration and Fragility: Impact and Mechanics
  Thorsten Beck, Asli Demirguc-Kunt and Ross Levine #11500 (CF, IFM)
  
• Is There a Diversification Discount in Financial Conglomerates?
  Luc Laeven and Ross Levine #11499 (CF, IFM)
  
• Bank Supervision and Corruption in Lending
  Thorsten Beck, Asli Demirguc-Kunt and Ross Levine #11498 (IFM)
  
• Are There Real Effects of Licensing on Academic Research? A Life Cycle View
  Marie Thursby, Jerry Thursby and Swastika Mukherjee #11497 (PR)
  
• The "News" View of Ecomonic Fluctuations: Evidence from Aggregate Japanese Data and Sectoral U.S. Data
  Paul Beaudry and Franck Portier #11496 (EFG)
  
• Inefficiency in Legislative Policy-Making: A Dynamic Analysis
  Marco Battaglini and Stephen Coate #11495 (PE, POL)
  

---

Week of July 11, 2005

Latest NBER Working Papers

• What Do Parents Value in Education? An Empirical Invesitgation of Parents' Revealed Preferences for Teachers
  Brian A. Jacob and Lars Lefgren #11494 (CH, ED)
  
• Global Business Cycles and Credit Risk
  M. Hashem Pesaran, Til Schuermann and Bjorn-Jakob Treutler #11493 (AP, CF)
  
• Relative Price Volatility Under Sudden Stops: The Relevance of Balance Sheet Effects
  Guillermo A. Calvo, Alejandro Izquierdo and Rudy Loo-Kung #11492 (HE)
  
• Crime, Punishment, and Myopia
  David S. Lee and Justin McCrary #11491 (LS)
  
• Efficient Fiscal Policy and Amplification
  mark Aguiar, Manuel Amador and Gita Gopinath #11490 (IFM, PE)
  
• The Sensitivity of Homeowner Leverage to the Deductibility of Home Mortgage Interest
  Patric H. Hendershott and Gwilym Pryce #11489 (AP, PE)
  
• The Only Game in Town: Stock-Price Consequences of Local Bias
  Harrison Hong, Jeffrey D. Kubik and Jeremy C. Stein #11488 (AP, CF)
  
• Nonrenewable Resource Prices: Deterministic of Stochastic Trends?
  Junsoo Lee, John A. List and Mark Strazicich #11487 (AP)
  
• Filming Images or Filming Reality: The Life Cycles of Movie Directors from D.W. Griffith to Federico Fellini
  David W. Galenson and Joshua Kotin #11486 (LS, PR)
  
• Denial of Death and Economic Behavior
  Wojciech Kopczuk and Joel Slemrod #11485 (AG, AP)
  

---

Week of July 4, 2005

Latest NBER Working Papers

• Inference with "Difference in Differences" with a Small Number of Policy Changes
  Timothy Conley and Christopher Taber #T312 (TWP)
  
• Political Competition and Economic Performance: Theory and Evidence from the United States
  Timothy Besley, Torsten Persson and Daniel Sturm #11484 (PE)
  
• Does Falling Smoking Lead to Rising Obesity?
  Jonathan Gruber and Michael Frakes #11483 (HE)
  
• Reexamining the Distribution of Wealth in 1870
  Joshua L. Rosenbloom and Gregory W. Stutes #11482 (DAE)
  
• Layoffs, Lemons, Race, and Gender
  Luojia Hu and Christopher Taber #11481 (LS)
  
• Momentum Profits and Macroeconomic Risk
  Laura X.L. Xiu, Jerold B. Warner and Lu Zhang #11480 (AP)
  
• Global Engagement and the Innovation Activities of Firms
  Chiara Criscuolo, Jonathan E. Haskel and Matthew J. Slaughter #11479 (ITI, PR)
  
• Mandated Disclosure, Stock Returns, and the 1964 Securities Acts Amendments
  Michael Greenstone, Paul Oyer and Annette Vissing-Jorgensen #11478 (LE, AP)
  
• The Empirical Risk-Return Relation: A Factor Analysis Approach
  Sydney C. Ludvigson and Serena Ng #11477 (AP)
  
• Socially Optimal Districting
  Stephen Coate and Brian Knight #11476 (EFG, AP)
  
• University Invention, Entrepreneurship, and Start-Ups
  Celestine Chukumba and Richard Jensen #11475 (PR)
  
• Do Women Shy Away From Competition? Do Men Compete Too Much?
  Muriel Niederle and Lise Vesterlund #11474 (LS)
  
• Long-Run Determinants of Inflation Differentials in a Monetary Union
  Filippo Altissimo, Pierpaolo Benigno and Diego Rodriguez #11473 (EFG, IFM, ME)
  
• Supersanctions and Sovereign Debt Repayment
  Kris James Mitchener and Marc D. Weidenmier #11472 (DAE, IFM)
  

---

---

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.

---