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NBER
2,009
NBER WORKING PAPER SERIES INTERNATIONAL EVIDENCE ON THE SOCIAL CONTEXT OF WELL-BEING John F. Helliwell Christopher P. Barrington-Leigh Anthony Harris Haifang Huang Working Paper 14720 http://www.nber.org/papers/w14720 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 This ...
20,344
NBER
2,009
NBER WORKING PAPER SERIES A NOTE ON LIQUIDITY RISK MANAGEMENT Markus K. Brunnermeier Motohiro Yogo Working Paper 14727 http://www.nber.org/papers/w14727 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 For comments and discussions, we thank Patrick Cheridito, Nicolae Gârl...
6,301
NBER
2,009
NBER WORKING PAPER SERIES REGRESSION DISCONTINUITY DESIGNS IN ECONOMICS David S. Lee Thomas Lemieux Working Paper 14723 http://www.nber.org/papers/w14723 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank David Autor, David Card, John DiNardo, Guido Imbens, and Jus...
57,110
NBER
2,009
NBER WORKING PAPER SERIES OPTIMAL BANDWIDTH CHOICE FOR THE REGRESSION DISCONTINUITY ESTIMATOR Guido Imbens Karthik Kalyanaraman Working Paper 14726 http://www.nber.org/papers/w14726 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 Financial support for this research was g...
19,394
NBER
2,009
NBER WORKING PAPER SERIES IMPLEMENTING THE NEW FISCAL POLICY ACTIVISM Alan J. Auerbach Working Paper 14725 http://www.nber.org/papers/w14725 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 This paper was prepared for the American Economic Association meetings, San Franci...
4,908
NBER
2,009
NBER WORKING PAPER SERIES COMPARING IV WITH STRUCTURAL MODELS: WHAT SIMPLE IV CAN AND CANNOT IDENTIFY James J. Heckman Sergio Urzua Working Paper 14706 http://www.nber.org/papers/w14706 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank Donna Gilleskie, Daniel Schm...
19,809
NBER
2,009
NBER WORKING PAPER SERIES MATERNAL SMOKING AND THE TIMING OF WIC ENROLLMENT Cristina Yunzal-Butler Theodore J. Joyce Andrew D. Racine Working Paper 14728 http://www.nber.org/papers/w14728 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 The research was supported by a gra...
16,264
NBER
2,009
NBER WORKING PAPER SERIES THE DISTRIBUTION OF WEALTH AND FISCAL POLICY IN ECONOMIES WITH FINITELY LIVED AGENTS Jess Benhabib Alberto Bisin Working Paper 14730 http://www.nber.org/papers/w14730 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We gratefully acknowledge Daro...
22,980
NBER
2,009
NBER WORKING PAPER SERIES BRETTON WOODS II STILL DEFINES THE INTERNATIONAL MONETARY SYSTEM Michael P. Dooley David Folkerts-Landau Peter M. Garber Working Paper 14731 http://www.nber.org/papers/w14731 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 The views expressed he...
9,705
NBER
2,009
NBER WORKING PAPER SERIES WHAT CAUSED THE RECESSION OF 2008? HINTS FROM LABOR PRODUCTIVITY Casey Mulligan Working Paper 14729 http://www.nber.org/papers/w14729 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 I appreciate the comments of Gary Becker, Emir Kamenica, Kevin...
8,935
NBER
2,009
NBER WORKING PAPER SERIES A STICKY-INFORMATION GENERAL-EQUILIBRIUM MODEL FOR POLICY ANALYSIS Ricardo Reis Working Paper 14732 http://www.nber.org/papers/w14732 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 I am grateful to Olivier Coibion, Anton Nakov, Klaus Schmidt-He...
31,699
NBER
2,009
NBER WORKING PAPER SERIES THE CONTRIBUTION OF HIGHWAYS TO GDP GROWTH Barbara M. Fraumeni Working Paper 14736 http://www.nber.org/papers/w14736 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 The research described in this paper was conducted under subcontract to Battelle...
5,278
NBER
2,009
NBER WORKING PAPER SERIES INTERNATIONAL PORTFOLIO ALLOCATION UNDER MODEL UNCERTAINTY Pierpaolo Benigno Salvatore Nisticò Working Paper 14734 http://www.nber.org/papers/w14734 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We are grateful to conference and seminar partic...
32,246
NBER
2,009
NBER WORKING PAPER SERIES A NEW METRIC FOR BANKING INTEGRATION IN EUROPE Reint Gropp Anil Kashyap Working Paper 14735 http://www.nber.org/papers/w14735 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 Corresponding author’s email address: reint.gropp@ebs.edu This paper ...
17,909
NBER
2,009
NBER WORKING PAPER SERIES THE CREDIT CRISIS: CONJECTURES ABOUT CAUSES AND REMEDIES Douglas W. Diamond Raghuram Rajan Working Paper 14739 http://www.nber.org/papers/w14739 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 Diamond and Rajan acknowledge support from the Cente...
5,331
NBER
2,009
NBER WORKING PAPER SERIES DYNAMICS OF CONSUMER DEMAND FOR NEW DURABLE GOODS Gautam Gowrisankaran Marc Rysman Working Paper 14737 http://www.nber.org/papers/w14737 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank Dan Ackerberg, Victor Aguirregabiria, Ana Aizcorbe,...
30,472
NBER
2,009
NBER WORKING PAPER SERIES CHARACTERISTICS OF OBSERVED LIMIT ORDER DEMAND AND SUPPLY SCHEDULES FOR INDIVIDUAL STOCKS Jung-Wook Kim Jason Lee Randall Morck Working Paper 14733 http://www.nber.org/papers/w14733 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank Hyeon ...
19,352
NBER
2,009
NBER WORKING PAPER SERIES THE SKILL COMPOSITION OF MIGRATION AND THE GENEROSITY OF THE WELFARE STATE Alon Cohen Assaf Razin Efraim Sadka Working Paper 14738 http://www.nber.org/papers/w14738 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 The views expressed herein are t...
9,694
NBER
2,009
NBER WORKING PAPER SERIES LARGE EMPLOYERS ARE MORE CYCLICALLY SENSITIVE Giuseppe Moscarini Fabien Postel-Vinay Working Paper 14740 http://www.nber.org/papers/w14740 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We would like to thank Jesper Bagger, Carlos Corseuil, Jas...
27,373
NBER
2,009
NBER WORKING PAPER SERIES DO TARGET CEOS SELL OUT THEIR SHAREHOLDERS TO KEEP THEIR JOB IN A MERGER? Leonce L. Bargeron Frederik P. Schlingemann René M. Stulz Chad J. Zutter Working Paper 14724 http://www.nber.org/papers/w14724 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2...
22,761
NBER
2,009
NBER WORKING PAPER SERIES MODELING EARNINGS DYNAMICS Joseph G. Altonji Anthony Smith Ivan Vidangos Working Paper 14743 http://www.nber.org/papers/w14743 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We are grateful to Richard Blundell, Mary Daly, Rasmus Lentz, Costas M...
55,450
NBER
2,009
NBER WORKING PAPER SERIES TECHNOLOGICAL CHANGES AND EMPLOYMENT OF OLDER MANUFACTURING WORKERS IN EARLY TWENTIETH CENTURY AMERICA Chulhee Lee Working Paper 14746 http://www.nber.org/papers/w14746 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 I thank Dora Costa, Alexande...
29,270
NBER
2,009
NBER WORKING PAPER SERIES SOCIOECONOMIC DIFFERENCES IN THE HEALTH OF BLACK UNION ARMY SOLDIERS Chulhee Lee Working Paper 14745 http://www.nber.org/papers/w14745 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 I would like to thank Robert Fogel and Stanley Engerman for th...
19,058
NBER
2,009
NBER WORKING PAPER SERIES EARNINGS INEQUALITY AND COORDINATION COSTS: EVIDENCE FROM U.S. LAW FIRMS Luis Garicano Thomas Hubbard Working Paper 14741 http://www.nber.org/papers/w14741 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 The research in this paper was conducted ...
29,969
NBER
2,009
NBER WORKING PAPER SERIES THE INTERNET AND LOCAL WAGES: CONVERGENCE OR DIVERGENCE? Chris Forman Avi Goldfarb Shane Greenstein Working Paper 14750 http://www.nber.org/papers/w14750 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank Mercedes Delgado and seminar parti...
35,548
NBER
2,009
NBER WORKING PAPER SERIES COMMODITY PRICE VOLATILITY AND WORLD MARKET INTEGRATION SINCE 1700 David S. Jacks Kevin H. O'Rourke Jeffrey G. Williamson Working Paper 14748 http://www.nber.org/papers/w14748 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We acknowledge with t...
17,031
NBER
2,009
NBER WORKING PAPER SERIES WHERE DOES REGULATION HURT? EVIDENCE FROM NEW BUSINESSES ACROSS COUNTRIES Silvia Ardagna Annamaria Lusardi Working Paper 14747 http://www.nber.org/papers/w14747 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We would like to thank Mary Burke, S...
36,795
NBER
2,009
NBER WORKING PAPER SERIES IS LOTTERY GAMBLING ADDICTIVE? Jonathan Guryan Melissa Schettini Kearney Working Paper 14742 http://www.nber.org/papers/w14742 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 The authors thank Botond Koszegi, Michael Grossman, Kevin Murphy, Rich...
16,995
NBER
2,009
NBER WORKING PAPER SERIES DID THE 2008 TAX REBATES STIMULATE SPENDING? Matthew D. Shapiro Joel B. Slemrod Working Paper 14753 http://www.nber.org/papers/w14753 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We are grateful to Richard Curtin for advice in the design of t...
5,641
NBER
2,009
NBER WORKING PAPER SERIES RISK PREFERENCES IN THE PSID: INDIVIDUAL IMPUTATIONS AND FAMILY COVARIATION Miles S. Kimball Claudia R. Sahm Matthew D. Shapiro Working Paper 14754 http://www.nber.org/papers/w14754 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 The views prese...
10,305
NBER
2,009
NBER WORKING PAPER SERIES TOWARDS A SYSTEM OF OPEN CITIES IN CHINA: HOME PRICES, FDI FLOWS AND AIR QUALITY IN 35 MAJOR CITIES Siqi Zheng Matthew E. Kahn Hongyu Liu Working Paper 14751 http://www.nber.org/papers/w14751 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 This ...
14,879
NBER
2,009
NBER WORKING PAPER SERIES INTERRACIAL WORKPLACE COOPERATION: EVIDENCE FROM THE NBA Joseph Price Lars Lefgren Henry Tappen Working Paper 14749 http://www.nber.org/papers/w14749 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We would like to thank Jeff Desimone, Scott Han...
7,626
NBER
2,009
NBER WORKING PAPER SERIES A MARTINGALE REPRESENTATION FOR MATCHING ESTIMATORS Alberto Abadie Guido Imbens Working Paper 14756 http://www.nber.org/papers/w14756 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank Rustam Ibragimov, Don Rubin, and seminar participants ...
14,472
NBER
2,009
NBER WORKING PAPER SERIES THE BROADBAND BONUS: ACCOUNTING FOR BROADBAND INTERNET'S IMPACT ON U.S. GDP Shane Greenstein Ryan C. McDevitt Working Paper 14758 http://www.nber.org/papers/w14758 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank David Burstein, Greg Cra...
38,326
NBER
2,009
NBER WORKING PAPER SERIES ARE STOCKS REALLY LESS VOLATILE IN THE LONG RUN? Lubos Pastor Robert F. Stambaugh Working Paper 14757 http://www.nber.org/papers/w14757 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We are grateful for comments from John Campbell, Peter Christ...
32,644
NBER
2,009
NBER WORKING PAPER SERIES SUNK COSTS AND RISK-BASED BARRIERS TO ENTRY Robert S. Pindyck Working Paper 14755 http://www.nber.org/papers/w14755 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 My thanks to Dennis Carlton,Wouter Dessein, Joe Farrell, Michael Riordan, Manuel ...
21,163
NBER
2,009
NBER WORKING PAPER SERIES RATINGS SHOPPING AND ASSET COMPLEXITY: A THEORY OF RATINGS INFLATION Vasiliki Skreta Laura Veldkamp Working Paper 14761 http://www.nber.org/papers/w14761 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 This paper was prepared for the Carnegie-Ro...
21,632
NBER
2,009
NBER WORKING PAPER SERIES CHOICE INCONSISTENCIES AMONG THE ELDERLY: EVIDENCE FROM PLAN CHOICE IN THE MEDICARE PART D PROGRAM Jason T. Abaluck Jonathan Gruber Working Paper 14759 http://www.nber.org/papers/w14759 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We are grat...
33,025
NBER
2,009
NBER WORKING PAPER SERIES PARTISAN CONTROL, MEDIA BIAS, AND VIEWER RESPONSES: EVIDENCE FROM BERLUSCONI'S ITALY Ruben Durante Brian Knight Working Paper 14762 http://www.nber.org/papers/w14762 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank Constanca Esteves, Andrew...
17,797
NBER
2,009
NBER WORKING PAPER SERIES AN ACTIVITY-GENERATING THEORY OF REGULATION Joshua Schwartzstein Andrei Shleifer Working Paper 14752 http://www.nber.org/papers/w14752 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We thank Gary Becker, Georgy Egorov, Edward Glaeser, Oliver Ha...
21,579
NBER
2,009
NBER WORKING PAPER SERIES GROUPTHINK: COLLECTIVE DELUSIONS IN ORGANIZATIONS AND MARKETS Roland Bénabou Working Paper 14764 http://www.nber.org/papers/w14764 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 I am particularly grateful to Jean Tirole, as the paper builds on som...
53,646
NBER
2,009
NBER WORKING PAPER SERIES COMMODITY MARKET DISINTEGRATION IN THE INTERWAR PERIOD William Hynes David S. Jacks Kevin H. O'Rourke Working Paper 14767 http://www.nber.org/papers/w14767 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 Work on this paper commenced while O'Rourke ...
16,248
NBER
2,009
NBER WORKING PAPER SERIES OTTOMAN DE-INDUSTRIALIZATION 1800-1913: ASSESSING THE SHOCK, ITS IMPACT AND THE RESPONSE Sevket Pamuk Jeffrey G. Williamson Working Paper 14763 http://www.nber.org/papers/w14763 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We are grateful for th...
21,262
NBER
2,009
NBER WORKING PAPER SERIES WINNING PLAY IN SPECTRUM AUCTIONS Jeremy Bulow Jonathan Levin Paul Milgrom Working Paper 14765 http://www.nber.org/papers/w14765 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The authors advised SpectrumCo in FCC Auction 66. We thank John Hegeman...
17,959
NBER
2,009
NBER WORKING PAPER SERIES HISTORY WITHOUT EVIDENCE: LATIN AMERICAN INEQUALITY SINCE 1491 Jeffrey G. Williamson Working Paper 14766 http://www.nber.org/papers/w14766 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 Paper to be presented to the conference on A Comparative Appr...
15,976
NBER
2,009
NBER WORKING PAPER SERIES INNOVATION AND INSTITUTIONAL OWNERSHIP Philippe Aghion John Van Reenen Luigi Zingales Working Paper 14769 http://www.nber.org/papers/w14769 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We would like to thank Tim Besley, Patrick Bolton, Florian E...
25,772
NBER
2,009
NBER WORKING PAPER SERIES STOCK-MARKET CRASHES AND DEPRESSIONS Robert J. Barro José F. Ursúa Working Paper 14760 http://www.nber.org/papers/w14760 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 This research is supported by a grant from the National Science Foundation. ...
23,418
NBER
2,009
NBER WORKING PAPER SERIES QUANTITATIVE MACROECONOMICS WITH HETEROGENEOUS HOUSEHOLDS Jonathan Heathcote Kjetil Storesletten Giovanni L. Violante Working Paper 14768 http://www.nber.org/papers/w14768 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This paper was prepared for ...
31,115
NBER
2,009
NBER WORKING PAPER SERIES COMPETITION AND POLITICAL ORGANIZATION: TOGETHER OR ALONE IN LOBBYING FOR TRADE POLICY? Matilde Bombardini Francesco Trebbi Working Paper 14771 http://www.nber.org/papers/w14771 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We benefitted greatly ...
26,963
NBER
2,009
NBER WORKING PAPER SERIES THE MYTH OF THE FRONTIER Camilo García-Jimeno James A. Robinson Working Paper 14774 http://www.nber.org/papers/w14774 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This paper was written for the conference "Understanding Long-Run Economic Growth:...
23,853
NBER
2,009
NBER WORKING PAPER SERIES REDUCED-CLASS DISTINCTIONS: EFFORT, ABILITY, AND THE EDUCATION PRODUCTION FUNCTION Philip Babcock Julian R. Betts Working Paper 14777 http://www.nber.org/papers/w14777 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The authors would like to thank ...
14,986
NBER
2,009
NBER WORKING PAPER SERIES BEYOND INCENTIVES: DO SCHOOLS USE ACCOUNTABILITY REWARDS PRODUCTIVELY? Marigee Bacolod John DiNardo Mireille Jacobson Working Paper 14775 http://www.nber.org/papers/w14775 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The views expressed herein a...
25,201
NBER
2,009
NBER WORKING PAPER SERIES VALUE-ADDED TO WHAT? HOW A CEILING IN THE TESTING INSTRUMENT INFLUENCES VALUE-ADDED ESTIMATION Cory Koedel Julian Betts Working Paper 14778 http://www.nber.org/papers/w14778 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The authors thank Andrew ...
19,653
NBER
2,009
NBER WORKING PAPER SERIES MARGINS OF MULTINATIONAL LABOR SUBSTITUTION Marc-Andreas Muendler Sascha O. Becker Working Paper 14776 http://www.nber.org/papers/w14776 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This working paper is a substantively revised version of the pr...
40,274
NBER
2,009
NBER WORKING PAPER SERIES ON THE PARADOX OF PRUDENTIAL REGULATIONS IN THE GLOBALIZED ECONOMY: INTERNATIONAL RESERVES AND THE CRISIS A REASSESSMENT Joshua Aizenman Working Paper 14779 http://www.nber.org/papers/w14779 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 Any view...
9,270
NBER
2,009
NBER WORKING PAPER SERIES DID VIETNAM VETERANS GET SICKER IN THE 1990S? THE COMPLICATED EFFECTS OF MILITARY SERVICE ON SELF-REPORTED HEALTH Joshua D. Angrist Stacey H. Chen Brigham R. Frandsen Working Paper 14781 http://www.nber.org/papers/w14781 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge,...
24,514
NBER
2,009
NBER WORKING PAPER SERIES OPTIMAL ENDOWMENT DESTRUCTION UNDER CAMPBELL-COCHRANE HABIT FORMATION Lars Ljungqvist Harald Uhlig Working Paper 14772 http://www.nber.org/papers/w14772 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank Fernando Alvarez and John Cochrane for...
11,582
NBER
2,009
NBER WORKING PAPER SERIES THE SLAVE TRADE AND THE ORIGINS OF MISTRUST IN AFRICA Nathan Nunn Leonard Wantchekon Working Paper 14783 http://www.nber.org/papers/w14783 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank seminar participants at Boston University, Columbia ...
32,889
NBER
2,009
NBER WORKING PAPER SERIES FOREIGN OWNERSHIP AND FIRM PERFORMANCE: EMERGING-MARKET ACQUISITIONS IN THE UNITED STATES Anusha Chari Wenjie Chen Kathryn M.E. Dominguez Working Paper 14786 http://www.nber.org/papers/w14786 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank...
23,336
NBER
2,009
NBER WORKING PAPER SERIES MIGRATION AND THE WELFARE STATE: DYNAMIC POLITICAL-ECONOMY THEORY Assaf Razin Efraim Sadka Benjarong Suwankiri Working Paper 14784 http://www.nber.org/papers/w14784 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The views expressed herein are thos...
21,857
NBER
2,009
NBER WORKING PAPER SERIES VANISHING THIRD WORLD EMIGRANTS? Timothy J. Hatton Jeffrey G. Williamson Working Paper 14785 http://www.nber.org/papers/w14785 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The views expressed herein are those of the author(s) and do not necessar...
16,293
NBER
2,009
NBER WORKING PAPER SERIES LABOR REGULATIONS, UNIONS, AND SOCIAL PROTECTION IN DEVELOPING COUNTRIES: MARKET DISTORTIONS OR EFFICIENT INSTITUTIONS? Richard B. Freeman Working Paper 14789 http://www.nber.org/papers/w14789 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The vie...
32,069
NBER
2,009
NBER WORKING PAPER SERIES RESET PRICE INFLATION AND THE IMPACT OF MONETARY POLICY SHOCKS Mark Bils Peter J. Klenow Benjamin A. Malin Working Paper 14787 http://www.nber.org/papers/w14787 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This research was conducted with restri...
25,572
NBER
2,009
NBER WORKING PAPER SERIES THE LONG-RUN RISKS MODEL AND AGGREGATE ASSET PRICES: AN EMPIRICAL ASSESSMENT Jason Beeler John Y. Campbell Working Paper 14788 http://www.nber.org/papers/w14788 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We are grateful to Ravi Bansal, Dana Ki...
28,926
NBER
2,009
NBER WORKING PAPER SERIES CHANGES IN U.S. HOSPITALIZATION AND MORTALITY RATES FOLLOWING SMOKING BANS Kanaka D. Shetty Thomas DeLeire Chapin White Jayanta Bhattacharya Working Paper 14790 http://www.nber.org/papers/w14790 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We th...
17,502
NBER
2,009
NBER WORKING PAPER SERIES DO FINANCIAL INCENTIVES HELP LOW-PERFORMING SCHOOLS ATTRACT AND KEEP ACADEMICALLY TALENTED TEACHERS? EVIDENCE FROM CALIFORNIA Jennifer L. Steele Richard J. Murnane John B. Willett Working Paper 14780 http://www.nber.org/papers/w14780 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Aven...
18,020
NBER
2,009
NBER WORKING PAPER SERIES VALUATION EFFECTS AND THE DYNAMICS OF NET EXTERNAL ASSETS Michael B. Devereux Alan Sutherland Working Paper 14794 http://www.nber.org/papers/w14794 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank participants in the April 2008 IMF-ESRC-WEF...
33,638
NBER
2,009
NBER WORKING PAPER SERIES A NOTE ON REGIME SWITCHING, MONETARY POLICY, AND MULTIPLE EQUILIBRIA Jess Benhabib Working Paper 14770 http://www.nber.org/papers/w14770 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 I would like to thank Florin Bilbiie, Troy Davig, Roger Farmer...
8,155
NBER
2,009
NBER WORKING PAPER SERIES INTERNATIONALIZATION OF U.S. DOCTORATE EDUCATION John Bound Sarah Turner Patrick Walsh Working Paper 14792 http://www.nber.org/papers/w14792 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We would like to thank Richard Freeman, Daniel Goroff, Bill...
27,339
NBER
2,009
NBER WORKING PAPER SERIES THE EFFECT OF PROPERTY TAXES ON LOCATION DECISIONS: EVIDENCE FROM THE MARKET FOR VACATION HOMES Erik B. Johnson Randall Walsh Working Paper 14793 http://www.nber.org/papers/w14793 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The views expressed ...
12,196
NBER
2,009
NBER WORKING PAPER SERIES PUBLIC KNOWLEDGE, PRIVATE KNOWLEDGE: THE INTELLECTUAL CAPITAL OF ENTREPRENEURS Albert Link Christopher Ruhm Working Paper 14797 http://www.nber.org/papers/w14797 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The views expressed herein are those o...
14,228
NBER
2,009
NBER WORKING PAPER SERIES GENERATING EVIDENCE TO GUIDE MERGER ENFORCEMENT Orley C. Ashenfelter Daniel Hosken Matthew Weinberg Working Paper 14798 http://www.nber.org/papers/w14798 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We would like to thank Chris Taylor for his co...
12,139
NBER
2,009
NBER WORKING PAPER SERIES THE REAL SWING VOTER'S CURSE James A. Robinson Ragnar Torvik Working Paper 14799 http://www.nber.org/papers/w14799 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We are grateful to Rob Davies and Alex Debs for their comments and suggestions. The v...
5,772
NBER
2,009
NBER WORKING PAPER SERIES LABOR FORCE PARTICIPATION OF OLDER MALES IN KOREA: 1955-2005 Chulhee Lee Working Paper 14800 http://www.nber.org/papers/w14800 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This article extends and improves on the previous paper of the author (Le...
24,350
NBER
2,009
NBER WORKING PAPER SERIES CIVIL WAR Christopher Blattman Edward Miguel Working Paper 14801 http://www.nber.org/papers/w14801 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank Ana Arjona, Karen Ballentine, Bob Bates, David Card, Ernesto Dal Bó, Bill Easterly, Karen Fe...
49,615
NBER
2,009
NBER WORKING PAPER SERIES PROFIT SHIFTING AND TRADE AGREEMENTS IN IMPERFECTLY COMPETITIVE MARKETS Kyle Bagwell Robert W. Staiger Working Paper 14803 http://www.nber.org/papers/w14803 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank Henrik Horn, Giovanni Maggi and Xe...
42,016
NBER
2,009
NBER WORKING PAPER SERIES NEW KEYNESIAN VERSUS OLD KEYNESIAN GOVERNMENT SPENDING MULTIPLIERS John F. Cogan Tobias Cwik John B. Taylor Volker Wieland Working Paper 14782 http://www.nber.org/papers/w14782 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 ¸˛Helpful comments by G...
8,360
NBER
2,009
NBER WORKING PAPER SERIES THE WEALTH OF CITIES: AGGLOMERATION ECONOMIES AND SPATIAL EQUILIBRIUM IN THE UNITED STATES Edward L. Glaeser Joshua D. Gottlieb Working Paper 14806 http://www.nber.org/papers/w14806 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 Thanks to Roger Go...
37,546
NBER
2,009
NBER WORKING PAPER SERIES ALTERNATIVE LABOR MARKET POLICIES TO INCREASE ECONOMIC SELF-SUFFICIENCY: MANDATING HIGHER WAGES, SUBSIDIZING EMPLOYMENT, AND INCREASING PRODUCTIVITY David Neumark Working Paper 14807 http://www.nber.org/papers/w14807 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA ...
36,068
NBER
2,009
NBER WORKING PAPER SERIES DEBT LITERACY, FINANCIAL EXPERIENCES, AND OVERINDEBTEDNESS Annamaria Lusardi Peter Tufano Working Paper 14808 http://www.nber.org/papers/w14808 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We would like to thank TNS Global and, in particular, Ge...
35,819
NBER
2,009
NBER WORKING PAPER SERIES WHEN DOES LABOR SCARCITY ENCOURAGE INNOVATION? Daron Acemoglu Working Paper 14809 http://www.nber.org/papers/w14809 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 I thank Philippe Aghion, Dan Cao, Joshua Gans, Andres Irmen, Samuel Pienknagura, and...
24,132
NBER
2,009
NBER WORKING PAPER SERIES EXPLORING DIFFERENCES IN EMPLOYMENT BETWEEN HOUSEHOLD AND ESTABLISHMENT DATA Katharine G. Abraham John C. Haltiwanger Kristin Sandusky James Spletzer Working Paper 14805 http://www.nber.org/papers/w14805 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2...
27,765
NBER
2,009
NBER WORKING PAPER SERIES MAXING OUT: STOCKS AS LOTTERIES AND THE CROSS-SECTION OF EXPECTED RETURNS Turan G. Bali Nusret Cakici Robert F. Whitelaw Working Paper 14804 http://www.nber.org/papers/w14804 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We would like to thank Ya...
27,712
NBER
2,009
NBER WORKING PAPER SERIES INCOME AND HEALTH SPENDING: EVIDENCE FROM OIL PRICE SHOCKS Daron Acemoglu Amy Finkelstein Matthew J. Notowidigdo Working Paper 14744 http://www.nber.org/papers/w14744 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2009 We are grateful to Amitabh Cha...
49,462
NBER
2,009
NBER WORKING PAPER SERIES COPING WITH CHRONIC DISEASE? CHRONIC DISEASE AND DISABILITY IN ELDERLY AMERICAN POPULATION 1982-1999 Gabriel Aranovich Jay Bhattacharya Alan M. Garber Thomas E. MaCurdy Working Paper 14811 http://www.nber.org/papers/w14811 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridg...
16,645
NBER
2,009
NBER WORKING PAPER SERIES LEARNING ABOUT ACADEMIC ABILITY AND THE COLLEGE DROP-OUT DECISION Todd R. Stinebrickner Ralph Stinebrickner Working Paper 14810 http://www.nber.org/papers/w14810 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We appreciate comments from seminar p...
28,739
NBER
2,009
NBER WORKING PAPER SERIES DEPRESSION BABIES: DO MACROECONOMIC EXPERIENCES AFFECT RISK-TAKING? Ulrike Malmendier Stefan Nagel Working Paper 14813 http://www.nber.org/papers/w14813 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We thank John Ameriks, Brad Barber, Randy Cohen...
25,842
NBER
2,009
NBER WORKING PAPER SERIES SELF-ENFORCING TRADE AGREEMENTS AND PRIVATE INFORMATION Kyle Bagwell Working Paper 14812 http://www.nber.org/papers/w14812 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The helpful comments of Chad Bown, Yeon-Koo Che, Taiji Furusawa, Gene Grossma...
47,392
NBER
2,009
NBER WORKING PAPER SERIES CENTRAL BANK TRANSPARENCY: CAUSES, CONSEQUENCES AND UPDATES Nergiz Dincer Barry Eichengreen Working Paper 14791 http://www.nber.org/papers/w14791 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 State Planning Organization, Ankara, and University of...
28,761
NBER
2,009
NBER WORKING PAPER SERIES CONFIDENCE RISK AND ASSET PRICES Ravi Bansal Ivan Shaliastovich Working Paper 14815 http://www.nber.org/papers/w14815 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 The views expressed herein are those of the author(s) and do not necessarily refle...
27,886
NBER
2,009
NBER WORKING PAPER SERIES LEARNING AND ASSET-PRICE JUMPS Ravi Bansal Ivan Shaliastovich Working Paper 14814 http://www.nber.org/papers/w14814 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We would like to thank Hengjie Ai, Tim Bollerslev, Mikhail Chernov, Riccardo Colacit...
23,923
NBER
2,009
NBER WORKING PAPER SERIES DO NEWSPAPERS MATTER? SHORT-RUN AND LONG-RUN EVIDENCE FROM THE CLOSURE OF THE CINCINNATI POST Sam Schulhofer-Wohl Miguel Garrido Working Paper 14817 http://www.nber.org/papers/w14817 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 A previous versio...
18,524
NBER
2,009
NBER WORKING PAPER SERIES TIME OF TROUBLES: THE YEN AND JAPAN'S ECONOMY, 1985-2008 Maurice Obstfeld Working Paper 14816 http://www.nber.org/papers/w14816 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 Prepared for the ESRI/Chicago GSB/Columbia Business School Conference on...
33,874
NBER
2,009
NBER WORKING PAPER SERIES HYSTERESIS IN UNEMPLOYMENT: OLD AND NEW EVIDENCE Laurence M. Ball Working Paper 14818 http://www.nber.org/papers/w14818 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This paper was prepared for "A Phillips Curve Retrospective" sponsored by the Fe...
11,006
NBER
2,009
NBER WORKING PAPER SERIES OF MICE AND ACADEMICS: EXAMINING THE EFFECT OF OPENNESS ON INNOVATION Fiona Murray Philippe Aghion Mathias Dewatripont Julian Kolev Scott Stern Working Paper 14819 http://www.nber.org/papers/w14819 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 Th...
27,803
NBER
2,009
NBER WORKING PAPER SERIES WHAT SEGMENTS EQUITY MARKETS? Geert Bekaert Campbell R. Harvey Christian Lundblad Stephan Siegel Working Paper 14802 http://www.nber.org/papers/w14802 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This paper has benefited from discussions with an...
34,778
NBER
2,009
NBER WORKING PAPER SERIES THE COST OF LOW FERTILITY IN EUROPE David E. Bloom David Canning Günther Fink Jocelyn E. Finlay Working Paper 14820 http://www.nber.org/papers/w14820 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 This paper was prepared for the International Conf...
11,344
NBER
2,009
NBER WORKING PAPER SERIES NEEDLE SHARING AND HIV TRANSMISSION: A MODEL WITH MARKETS AND PURPOSIVE BEHAVIOR Ajay Mahal Brendan O'Flaherty David E. Bloom Working Paper 14823 http://www.nber.org/papers/w14823 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 Earlier versions of ...
40,914
NBER
2,009
NBER WORKING PAPER SERIES NEW-KEYNESIAN ECONOMICS: AN AS-AD VIEW Pierpaolo Benigno Working Paper 14824 http://www.nber.org/papers/w14824 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 I am grateful to Bernd Kempa and Mike Woodford for helpful discussions and comments and t...
26,132
NBER
2,009
NBER WORKING PAPER SERIES FIVE DECADES OF CONSUMPTION AND INCOME POVERTY Bruce D. Meyer James X. Sullivan Working Paper 14827 http://www.nber.org/papers/w14827 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2009 We would like to thank the Annie E. Casey Foundation, the Earhart ...
68,105