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NBER
2,002
NBER WORKING PAPER SERIES MONETARY POLICY AND EXCHANGE RATE VOLATILITY IN A SMALL OPEN ECONOMY Jordi Galí Tommaso Monacelli Working Paper 8905 http://www.nber.org/papers/w8905 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 April 2002 We are thankful to Nils Bjorsten, Mick Devereux, ...
25,179
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NBER WORKING PAPER SERIES IS FOREIGN EXCHANGE INTERVENTION EFFECTIVE?: THE JAPANESE EXPERIENCES IN THE 1990S Takatoshi Ito Working Paper 8914 http://www.nber.org/papers/w8914 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 April 2002 An earlier version of this paper was written for an...
18,720
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NBER WORKING PAPER SERIES WEALTH ACCUMULATION AND THE PROPENSITY TO PLAN John Ameriks Andrew Caplin John Leahy Working Paper 8920 http://www.nber.org/papers/w8920 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 Caplin thanks the Center for Experimental Social Science at New Y...
20,916
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NBER WORKING PAPER SERIES THE GOVERNANCE OF NOT-FOR-PROFIT FIRMS Edward L. Glaeser Working Paper 8921 http://www.nber.org/papers/w8921 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 The NSF provided helpful funding. David Cutler, Martin Feldstein and Andrei Shleifer provided...
29,804
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NBER WORKING PAPER SERIES INFLATION TARGETING: SHOULD IT BE MODELED AS AN INSTRUMENT RULE OR A TARGETING RULE? Lars E.O. Svensson Working Paper 8925 http://www.nber.org/papers/w8925 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 The views expressed herein are those of the au...
7,249
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NBER WORKING PAPER SERIES THE EFFECTS OF GUN PREVALENCE ON BURGLARY: DETERRENCE VS INDUCEMENT Philip J. Cook Jens Ludwig Working Paper 8926 http://www.nber.org/papers/w8926 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper was supported in part by a grant from the Jo...
25,307
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NBER WORKING PAPER SERIES THE RISING (AND THEN DECLINING) SIGNIFICANCE OF GENDER Claudia Goldin Working Paper 8915 http://www.nber.org/papers/w8915 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 April 2002 This paper is based on an address delivered to the Cornell University Inequali...
21,844
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NBER WORKING PAPER SERIES A CENTURY OF CURRENT ACCOUNT DYNAMICS Alan M. Taylor Working Paper 8927 http://www.nber.org/papers/w8927 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper is forthcoming in Journal of International Money and Finance. It builds on an earlier ...
16,652
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NBER WORKING PAPER SERIES STOCHASTIC TECHNICAL PROGRESS, NEARLY SMOOTH TRENDS AND DISTINCT BUSINESS CYCLES Julio J. Rotemberg Working Paper 8919 http://www.nber.org/papers/w8919 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 I wish to thank Russell Cooper, Peter Ireland, Joh...
44,388
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2,002
NBER WORKING PAPER SERIES THE IMPACT OF TEACHER TRAINING ON STUDENT ACHIEVEMENT: QUASI-EXPERIMENTAL EVIDENCE FROM SCHOOL REFORM EFFORTS IN CHICAGO Brian A. Jacob Lars Lefgren Working Paper 8916 http://www.nber.org/papers/w8916 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 April 2002...
16,650
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NBER WORKING PAPER SERIES RISK REDUCTION IN LARGE PORTFOLIOS: WHY IMPOSING THE WRONG CONSTRAINTS HELPS Ravi Jagannathan Tongshu Ma Working Paper 8922 http://www.nber.org/papers/w8922 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We thank Torben Andersen, Gopal Basak, Louis ...
25,443
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NBER WORKING PAPER SERIES REMEDIAL EDUCATION AND STUDENT ACHIEVEMENT: A REGRESSION-DISCONTINUITY ANALYSIS Brian A. Jacob Lars Lefgren Working Paper 8918 http://www.nber.org/papers/w8918 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We would like to thank the Consortium on C...
20,019
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NBER WORKING PAPER SERIES SOCIAL SECURITY PRIVATIZATION REFORM AND LABOR MARKETS: THE CASE OF CHILE Sebastian Edwards Alejandra Cox Edwards Working Paper 8924 http://www.nber.org/papers/w8924 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We are indebted to Manuelita Ureta f...
17,553
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NBER WORKING PAPER SERIES MINIMUM STANDARDS AND INSURANCE REGULATION: EVIDENCE FROM THE MEDIGAP MARKET Amy Finkelstein Working Paper 8917 http://www.nber.org/papers/w8917 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 I am grateful to Daron Acemoglu, David Autor, Nancy Beaul...
26,588
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NBER WORKING PAPER SERIES MODERN HYPER- AND HIGH INFLATIONS Stanley Fischer Ratna Sahay Carlos A. Végh Working Paper 8930 http://www.nber.org/papers/w8930 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper has been prepared for the Journal of Economic Literature. We a...
40,077
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NBER WORKING PAPER SERIES LIQUIDITY SHORTAGES AND BANKING CRISES Douglas W. Diamond Raghuram G. Rajan Working Paper 8937 http://www.nber.org/papers/w8937 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We are grateful to Isabel Gödde and Nobu Kiyotaki for very helpful comment...
28,178
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NBER WORKING PAPER SERIES DOES LOCAL FINANCIAL DEVELOPMENT MATTER? Luigi Guiso Paola Sapienza Luigi Zingales Working Paper 8923 http://www.nber.org/papers/w8923 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We thank Orazio Attanasio, Mitchell Petersen, Raghuram Rajan, Andre...
22,335
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NBER WORKING PAPER SERIES MEDICAID MANAGED CARE AND INFANT HEALTH: A NATIONAL EVALUATION Robert Kaestner Lisa Dubay Genevieve Kenney Working Paper 8936 http://www.nber.org/papers/w8936 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 Support for this article was provided by th...
29,932
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NBER WORKING PAPER SERIES FINANCIAL INTERMEDIATION Gary Gorton Andrew Winton Working Paper 8928 http://www.nber.org/papers/w8928 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 Forthcoming in Handbook of the Economics of Finance, edited by George Constantinides, Milt Harris a...
93,849
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NBER WORKING PAPER SERIES ESTIMATING THE KNOWLEDGE-CAPITAL MODEL OF THE MULTINATIONAL ENTERPRISE: COMMENT Bruce A. Blonigen Ronald B. Davies Keith Head Working Paper 8929 http://www.nber.org/papers/w8929 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We would like to thank R...
15,341
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NBER WORKING PAPER SERIES RELIGION AND POLITICAL ECONOMY IN AN INTERNATIONAL PANEL Robert J. Barro Rachel M. McCleary Working Paper 8931 http://www.nber.org/papers/w8931 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This research was supported by grants from the National Sc...
30,150
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NBER WORKING PAPER SERIES THE MILDEST RECESSION: OUTPUT, PROFITS, AND STOCK PRICES AS THE U.S. EMERGES FROM THE 2001 RECESSION William D. Nordhaus Working Paper 8938 http://www.nber.org/papers/w8938 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper was presented at t...
33,950
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NBER WORKING PAPER SERIES HAS WELFARE REFORM CHANGED TEENAGE BEHAVIORS? Robert Kaestner June O’Neill Working Paper 8932 http://www.nber.org/papers/w8932 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 Financial support for this research was provided by the Office of the Assis...
22,113
NBER
2,002
NBER WORKING PAPER SERIES EXCHANGE RATE PASS-THROUGH INTO IMPORT PRICES: A MACRO OR MICRO PHENOMENON? José Manuel Campa Linda S. Goldberg Working Paper 8934 http://www.nber.org/papers/w8934 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 The views expressed in this paper are ...
20,540
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NBER WORKING PAPER SERIES THE WORLD DISTRIBUTION OF INCOME (ESTIMATED FROM INDIVIDUAL COUNTRY DISTRIBUTIONS) Xavier Sala-i-Martin Working Paper 8933 http://www.nber.org/papers/w8933 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper was partly written when I was visit...
45,039
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NBER WORKING PAPER SERIES ESTIMATION AND IDENTIFICATION OF STRUCTURAL PARAMETERS IN THE PRESENCE OF MULTIPLE EQUILIBRIA Russell W. Cooper Working Paper 8941 http://www.nber.org/papers/w8941 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 The views expressed herein are those o...
16,292
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NBER WORKING PAPER SERIES THE NEW ECONOMY AND THE CHALLENGES FOR MACROECONOMIC POLICY Stephen G. Cecchetti Working Paper 8935 http://www.nber.org/papers/w8935 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper was prepared for the conference “The New Economy: What’s N...
14,787
NBER
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NBER WORKING PAPER SERIES DEBT RELIEF AND FISCAL SUSTAINABILITY Sebastian Edwards Working Paper 8939 http://www.nber.org/papers/w8939 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper is part of the PROVIA/IICA project on “Macroeconomic Conditions and Debt Relief In ...
17,598
NBER
2,002
NBER WORKING PAPER SERIES NONPARAMETRIC OPTION PRICING UNDER SHAPE RESTRICTIONS Yacine Ait-Sahalia Jefferson Duarte Working Paper 8944 http://www.nber.org/papers/w8944 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We are grateful to seminar and conference participants, and ...
27,190
NBER
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NBER WORKING PAPER SERIES THE CURLEY EFFECT Edward L. Glaeser Andrei Shleifer Working Paper 8942 http://www.nber.org/papers/w8942 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We are grateful to the NSF and the Gildor Foundation for financial support, to Alberto Alesina, El...
22,884
NBER
2,002
NBER WORKING PAPER SERIES ECONOMIC INTERPRETATIONS OF INTERGENERATIONAL CORRELATIONS Nathan D. Grawe Casey B. Mulligan Working Paper 8948 http://www.nber.org/papers/w8948 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We appreciate the comments of Gary Becker, Miles Corak, B...
9,924
NBER
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NBER WORKING PAPER SERIES HOMEOWNERSHIP IN THE IMMIGRANT POPULATION George J. Borjas Working Paper 8945 http://www.nber.org/papers/w8945 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This research was funded by the Research Institute for Housing America. The views expressed...
20,353
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NBER WORKING PAPER SERIES THE GROWTH OF OBESITY AND TECHNOLOGICAL CHANGE: A THEORETICAL AND EMPIRICAL EXAMINATION Darius Lakdawalla Tomas Philipson Working Paper 8946 http://www.nber.org/papers/w8946 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We wish to thank seminar par...
24,892
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NBER WORKING PAPER SERIES NETWORK EXTERNALITIES AND TECHNOLOGY ADOPTION: LESSONS FROM ELECTRONIC PAYMENTS Gautam Gowrisankaran Joanna Stavins Working Paper 8943 http://www.nber.org/papers/w8943 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We thank Dan Ackerberg, V.V. Chari...
19,666
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NBER WORKING PAPER SERIES IMF PROGRAMS: WHO IS CHOSEN AND WHAT ARE THE EFFECTS? Robert J. Barro Jong-Wha Lee Working Paper 8951 http://www.nber.org/papers/w8951 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This research has been supported in part by a grant from the Nation...
21,359
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NBER WORKING PAPER SERIES The NAIRU in Theory and Practice Laurence Ball N. Gregory Mankiw Working Paper 8940 http://www.nber.org/papers/w8940 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We are grateful for research assistance from Robert Tchaidze and Gergana Trainor, and...
15,699
NBER
2,002
NBER WORKING PAPER SERIES EFFICIENCY AND EQUITY IN SCHOOLS AROUND THE WORLD Eric A. Hanushek Javier A. Luque Working Paper 8949 http://www.nber.org/papers/w8949 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 The opinions in this paper do not necessarily represent those of Ba...
20,193
NBER
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NBER WORKING PAPER SERIES WHY SHOULD EMERGING ECONOMIES GIVE UP NATIONAL CURRENCIES: A CASE FOR ‘INSTITUTIONS SUBSTITUTION’ Enrique G. Mendoza Working Paper 8950 http://www.nber.org/papers/w8950 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This paper borrows heavily from j...
15,051
NBER
2,002
NBER WORKING PAPER SERIES THE COMPLEXION GAP: THE ECONOMIC CONSEQUENCES OF COLOR AMONG FREE AFRICAN AMERICANS IN THE RURAL ANTEBELLUM SOUTH Howard Bodenhorn Working Paper 8957 http://www.nber.org/papers/w8957 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 I thank Tim Conley,...
22,386
NBER
2,002
NBER WORKING PAPER SERIES ODIOUS DEBT Michael Kremer Seema Jayachandran Working Paper 8953 http://www.nber.org/papers/w8953 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We would like to thank Charles Cohen, Jishnu Das, Raquel Fernandez, Rachel Glennerster, Robert Litan, Be...
19,068
NBER
2,002
NBER WORKING PAPER SERIES GROWING BY LEAPS AND INCHES: CREATIVE DESTRUCTION, REAL COST REDUCTION, AND INCHING UP Michael R. Darby Lynne G. Zucker Working Paper 8947 http://www.nber.org/papers/w8947 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 An earlier version of this pap...
19,527
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NBER WORKING PAPER SERIES EQUITY VOLATILITY AND CORPORATE BOND YIELDS John Y. Campbell Glen B. Taksler Working Paper 8961 http://www.nber.org/papers/w8961 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We are grateful to Peter Hecht, Jeremy Stein, and an anonymous referee fo...
66,587
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NBER WORKING PAPER SERIES FROM MALTHUS TO OHLIN: TRADE, GROWTH AND DISTRIBUTION SINCE 1500 Kevin H. O’Rourke Jeffrey G. Williamson Working Paper 8955 http://www.nber.org/papers/w8955 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We have been helped with the wage-rent data b...
21,857
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2,002
NBER WORKING PAPER SERIES ECONOMIC DEVELOPMENT AS SELF-DISCOVERY Ricardo Hausmann Dani Rodrik Working Paper 8952 http://www.nber.org/papers/w8952 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We thank the Ford and Rockefeller Foundations for financial support, and Zoë McLar...
24,564
NBER
2,002
NBER WORKING PAPER SERIES GOING PUBLIC WHEN YOU CAN IN BIOTECHNOLOGY Michael R. Darby Lynne G. Zucker Working Paper 8954 http://www.nber.org/papers/w8954 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This research has been supported by grants from the University of Californ...
14,729
NBER
2,002
NBER WORKING PAPER SERIES CLOSED-FORM LIKELIHOOD EXPANSIONS FOR MULTIVARIATE DIFFUSIONS Yacine Ait-Sahalia Working Paper 8956 http://www.nber.org/papers/w8956 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 This research was partly funded by the NSF under grants SBR-9996023 a...
32,892
NBER
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NBER WORKING PAPER SERIES TRADE CREDIT, FINANCIAL INTERMEDIARY DEVELOPMENT AND INDUSTRY GROWTH Raymond Fisman Inessa Love Working Paper 8960 http://www.nber.org/papers/w8960 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We thank Charles Calomiris,Stijn Claessens,and an anon...
11,068
NBER
2,002
NBER WORKING PAPER SERIES ESTIMATING PRICE ELASTICITIES WHEN THERE IS SMUGGLING: THE SENSITIVITY OF SMOKING TO PRICE IN CANADA Jonathan Gruber Anindya Sen Mark Stabile Working Paper 8962 http://www.nber.org/papers/w8962 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We are g...
16,517
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2,002
NBER WORKING PAPER SERIES SOCIAL SECURITY AND DEMOCRACY Casey B. Mulligan Ricard Gil Xavier Sala-i-Martin Working Paper 8958 http://www.nber.org/papers/w8958 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 We appreciate the comments of Alessandro Barbarino, Gary Becker, Rodr...
32,886
NBER
2,002
NBER WORKING PAPER SERIES WHERE THE BOYS AREN’T: NON-COGNITIVE SKILLS, RETURNS TO SCHOOL AND THE GENDER GAP IN HIGHER EDUCATION Brian A. Jacob Working Paper 8964 http://www.nber.org/papers/w8964 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 The views expressed herein are t...
11,964
NBER
2,002
NBER WORKING PAPER SERIES MICRO EFFECTS OF MACRO ANNOUNCEMENTS: REAL-TIME PRICE DISCOVERY IN FOREIGN EXCHANGE Torben G. Andersen Tim Bollerslev Francis X. Diebold Clara Vega Working Paper 8959 http://www.nber.org/papers/w8959 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2002 T...
26,387
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NBER WORKING PAPER SERIES STUDYING OURSELVES: THE ACADEMIC LABOR MARKET Ronald G. Ehrenberg Working Paper 8965 http://www.nber.org/papers/w8965 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Irving M. Ives Professor of Industrial and Labor Relations and Economics at Cornell...
12,880
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NBER WORKING PAPER SERIES THE USE AND MEANING OF WORDS IN CENTRAL BANKING: INFLATION TARGETING, CREDIBILITY, AND TRANSPARENCY Benjamin M. Friedman Working Paper 8972 http://www.nber.org/papers/w8972 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 The views expressed herein a...
8,784
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NBER WORKING PAPER SERIES TECHNOLOGICAL SUPERIORITY AND THE LOSSES FROM MIGRATION Donald R. Davis David E. Weinstein Working Paper 8971 http://www.nber.org/papers/w8971 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We are grateful to Alan Deardorff and James Harrigan for h...
19,177
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NBER WORKING PAPER SERIES PAPER MILLIONAIRES: HOW VALUABLE IS STOCK TO A STOCKHOLDER WHO IS RESTRICTED FROM SELLING IT? Matthias Kahl Jun Liu Francis A. Longstaff Working Paper 8969 http://www.nber.org/papers/w8969 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We are grate...
21,638
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NBER WORKING PAPER SERIES ASSET PRICES IN A FLEXIBLE INFLATION TARGETING FRAMEWORK Stephen G. Cecchetti Hans Genberg Sushil Wadhwani Working Paper 8970 http://www.nber.org/papers/w8970 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Prepared for the conference on “Asset Pric...
12,649
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NBER WORKING PAPER SERIES UNDERSTANDING THE BLACK-WHITE TEST SCORE GAP IN THE FIRST TWO YEARS OF SCHOOL Roland G. Fryer, Jr. Steven D. Levitt Working Paper 8975 http://www.nber.org/papers/w8975 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We are grateful to James Heckman,...
25,481
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NBER WORKING PAPER SERIES THE MODERN HISTORY OF EXCHANGE RATE ARRANGEMENTS: A REINTERPRETATION Carmen M. Reinhart Kenneth S. Rogoff Working Paper 8963 http://www.nber.org/papers/w8963 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 The authors wish to thank Vincent Reinhart ...
77,104
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NBER WORKING PAPER SERIES BOOM-BUSTS IN ASSET PRICES, ECONOMIC INSTABILITY, AND MONETARY POLICY Michael D. Bordo Olivier Jeanne Working Paper 8966 http://www.nber.org/papers/w8966 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Previous versions of this paper benefited from ...
20,147
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NBER WORKING PAPER SERIES ACCOUNTABILITY, INCENTIVES AND BEHAVIOR: THE IMPACT OF HIGH-STAKES TESTING IN THE CHICAGO PUBLIC SCHOOLS Brian A. Jacob Working Paper 8968 http://www.nber.org/papers/w8968 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 I would like to thank the Chi...
30,578
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NBER WORKING PAPER SERIES DEMOCRATIC POLICY MAKING WITH REAL-TIME AGENDA SETTING: PART 1 B. Douglas Bernheim Antonio Rangel Luis Rayo Working Paper 8973 http://www.nber.org/papers/w8973 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We would like to thank Alberto Alesina, D...
34,139
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NBER WORKING PAPER SERIES INTELLECTUAL PROPERTY, ANTITRUST AND STRATEGIC BEHAVIOR Dennis W. Carlton Robert H. Gertner Working Paper 8976 http://www.nber.org/papers/w8976 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 This paper incorporates parts of and extends testimony Ca...
16,565
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NBER WORKING PAPER SERIES SOCIAL NETWORKS AND THE AGGREGATION OF INDIVIDUAL DECISIONS D. Lee Heavner Lance Lochner Working Paper 8979 http://www.nber.org/papers/w8979 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 The views expressed herein are those of the authors and not...
13,347
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NBER WORKING PAPER SERIES PATENT PROTECTION AND INNOVATION OVER 150 YEARS Josh Lerner Working Paper 8977 http://www.nber.org/papers/w8977 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 I thank for their assistance the librarians of the Boston Public Library, Fish & Richards...
17,549
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NBER WORKING PAPER SERIES CAPITAL ACCOUNT LIBERALIZATION, INSTITUTIONS AND FINANCIAL DEVELOPMENT: CROSS COUNTRY EVIDENCE Menzie D. Chinn Hiro Ito Working Paper 8967 http://www.nber.org/papers/w8967 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Helpful comments were receive...
28,552
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NBER WORKING PAPER SERIES ARE ALL PATENT EXAMINERS EQUAL? THE IMPACT OF CHARACTERISTICS ON PATENT STATISTICS AND LITIGATION OUTCOMES Iain M. Cockburn Samuel Kortum Scott Stern Working Paper 8980 http://www.nber.org/papers/w8980 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002...
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NBER WORKING PAPER SERIES THE DISTRIBUTION OF TAX BURDENS: AN INTRODUCTION Gilbert E. Metcalf Don Fullerton Working Paper 8978 http://www.nber.org/papers/w8978 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 This is an introduction for the forthcoming collection, The Distrib...
12,397
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NBER WORKING PAPER SERIES THE POWERFUL ANTITAKEOVER FORCE OF STAGGERED BOARDS: THEORY, EVIDENCE AND POLICY Lucian Arye Bebchuk John C. Coates IV Guhan Subramanian Working Paper 8974 http://www.nber.org/papers/w8974 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 For helpful ...
45,713
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NBER WORKING PAPER SERIES A POLLUTION THEORY OF DISCRIMINATION: MALE AND FEMALE DIFFERENCES IN OCCUPATIONS AND EARNINGS Claudia Goldin Working Paper 8985 http://www.nber.org/papers/w8985 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 At its inception, about a decade ago, th...
18,202
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NBER WORKING PAPER SERIES INDUSTRY GROWTH AND CAPITAL ALLOCATION: DOES HAVING A MARKET- OR BANK-BASED SYSTEM MATTER? Thorsten Beck Ross Levine Working Paper 8982 http://www.nber.org/papers/w8982 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We would like to thank Franklin ...
24,499
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NBER WORKING PAPER SERIES PRIVATE AND SOCIAL INCENTIVES FOR FERTILITY: ISRAELI PUZZLES Charles F. Manski Joram Mayshar Working Paper 8984 http://www.nber.org/papers/w8984 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 This research was supported in part by a grant from the ...
20,995
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NBER WORKING PAPER SERIES THE ALLOCATION OF RESOURCES BY INTEREST GROUPS: LOBBYING, LITIGATION AND ADMINISTRATIVE REGULATION John M. de Figueiredo Rui J. P. de Figueiredo, Jr. Working Paper 8981 http://www.nber.org/papers/w8981 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002...
16,428
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2,002
NBER WORKING PAPER SERIES STOCK VALUATION AND LEARNING ABOUT PROFITABILITY Lubos Pastor Pietro Veronesi Working Paper 8991 http://www.nber.org/papers/w8991 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Helpful comments were gratefully received from Dan Bens, Tony Bernardo,...
32,743
NBER
2,002
NBER WORKING PAPER SERIES OWNERSHIP FORM AND TRAPPED CAPITAL IN THE HOSPITAL INDUSTRY Henry Hansmann Daniel Kessler Mark McClellan Working Paper 8989 http://www.nber.org/papers/w8989 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We would like to thank Alex Whalley and Arra...
18,725
NBER
2,002
NBER WORKING PAPER SERIES EVALUATING WELFARE REFORM IN THE UNITED STATES Rebecca M. Blank Working Paper 8983 http://www.nber.org/papers/w8983 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 This paper was commissioned by the Journal of Economic Literature . Thanks are due to...
55,404
NBER
2,002
NBER WORKING PAPER SERIES STOCKS AS MONEY: CONVENIENCE YIELD AND THE TECH-STOCK BUBBLE John H. Cochrane Working Paper 8987 http://www.nber.org/papers/w8987 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 This paper was prepared for the Federal Reserve Bank of Chicago Confere...
16,134
NBER
2,002
NBER WORKING PAPER SERIES THE MARKET PRICE OF CREDIT RISK: AN EMPIRICAL ANALYSIS OF INTEREST RATE SWAP SPREADS Jun Liu Francis A. Longstaff Ravit E. Mandell Working Paper 8990 http://www.nber.org/papers/w8990 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We are grateful fo...
20,836
NBER
2,002
NBER WORKING PAPER SERIES RISK SHARING AND ASSET PRICES: EVIDENCE FROM A NATURAL EXPERIMENT Anusha Chari Peter Blair Henry Working Paper 8988 http://www.nber.org/papers/w8988 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Henry gratefully acknowledges the financial support ...
17,797
NBER
2,002
NBER WORKING PAPER SERIES THE RELATIONSHIP BETWEEN EDUCATION AND ADULT MORTALITY IN THE UNITED STATES Adriana Lleras-Muney Working Paper 8986 http://www.nber.org/papers/w8986 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 I would like to thank Ann Bartel, Francisco Ciocchin...
23,789
NBER
2,002
NBER WORKING PAPER SERIES THE IMPACT OF UNIONIZATION ON ESTABLISHMENT CLOSURE: A REGRESSION DISCONTINUITY ANALYSIS OF REPRESENTATION ELECTIONS John DiNardo David S. Lee Working Paper 8993 http://www.nber.org/papers/w8993 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We tha...
32,171
NBER
2,002
NBER WORKING PAPER SERIES WHEN DOES TRADE HURT? MARKET, TRANSITION AND DEVELOPING ECONOMIES Kala Krishna Cemile Yavas Working Paper 8995 http://www.nber.org/papers/w8995 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We are grateful to Don Davis, Elhanan Helpman, Abhijit Ba...
14,842
NBER
2,002
NBER WORKING PAPER SERIES ART AUCTIONS: A SURVEY OF EMPIRICAL STUDIES Orley Ashenfelter Kathryn Graddy Working Paper 8997 http://www.nber.org/papers/w8997 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Our thanks to Alan Krueger for comments on a very early draft of this pa...
18,726
NBER
2,002
NBER WORKING PAPER SERIES BENEFITS AND COSTS OF NEWER DRUGS: AN UPDATE Frank Lichtenberg Working Paper 8996 http://www.nber.org/papers/w8996 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 The views expressed herein are those of the author and not necessarily those of the Na...
5,301
NBER
2,002
NBER WORKING PAPER SERIES U.S. STOCK MARKET CRASHES AND THEIR AFTERMATH: IMPLICATIONS FOR MONETARY POLICY Frederic S. Mishkin Eugene N. White Working Paper 8992 http://www.nber.org/papers/w8992 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 This paper is based on a paper de...
21,409
NBER
2,002
NBER WORKING PAPER SERIES ARE FINANCIAL ASSETS PRICED LOCALLY OR GLOBALLY? G. Andrew Karolyi René M. Stulz Working Paper 8994 http://www.nber.org/papers/w8994 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Prepared for the Handbook of the Economics of Finance, George Consta...
34,204
NBER
2,002
NBER WORKING PAPER SERIES DAILY CROSS-BORDER EQUITY FLOWS: PUSHED OR PULLED? John M. Griffin Federico Nardari René M. Stulz Working Paper 9000 http://www.nber.org/papers/w9000 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Griffin and Nardari are Assistant Professors at the...
37,482
NBER
2,002
NBER WORKING PAPER SERIES THE PERFORMANCE OF PERFORMANCE STANDARDS James J. Heckman Carolyn Heinrich Jeffrey Smith Working Paper 9002 http://www.nber.org/papers/w9002 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Heckman is Henry Schultz Distinguished Service Professor of ...
25,322
NBER
2,002
NBER WORKING PAPER SERIES FOOD INSECURITY OR POVERTY? MEASURING NEED-RELATED DIETARY ADEQUACY Jayanta Bhattacharya Janet Currie Steven Haider Working Paper 9003 http://www.nber.org/papers/w9003 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Bhattacharya and Haider gratefull...
18,601
NBER
2,002
NBER WORKING PAPER SERIES WHERE DO U.S. IMMIGRANTS COME FROM, AND WHY? Ximena Clark Timothy J. Hatton Jeffrey G. Williamson Working Paper 8998 http://www.nber.org/papers/w8998 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Paper presented at the Population Association of Am...
20,952
NBER
2,002
NBER WORKING PAPER SERIES ENTREPRENEURSHIP IN EQUILIBRIUM Denis Gromb David Scharfstein Working Paper 9001 http://www.nber.org/papers/w9001 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We would like to thank Matthias Dewatripont, Paul Gompers, Augustin Landier, Josh Lerne...
16,935
NBER
2,002
NBER WORKING PAPER SERIES THE ROOTS OF LATIN AMERICAN PROTECTIONISM: LOOKING BEFORE THE GREAT DEPRESSION John H. Coatsworth Jeffrey G. Williamson Working Paper 8999 http://www.nber.org/papers/w8999 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Paper to be presented to an I...
28,676
NBER
2,002
NBER WORKING PAPER SERIES GAINS FROM FDI INFLOWS WITH INCOMPLETE INFORMATION Assaf Razin Efraim Sadka Working Paper 9008 http://www.nber.org/papers/w9008 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 The views expressed herein are those of the authors and not necessarily t...
4,717
NBER
2,002
NBER WORKING PAPER SERIES HEAT OR EAT? COLD WEATHER SHOCKS AND NUTRITION IN POOR AMERICAN FAMILIES Jayanta Bhattacharya Thomas DeLeire Steven Haider Janet Currie Working Paper 9004 http://www.nber.org/papers/w9004 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We thank the ...
33,016
NBER
2,002
NBER WORKING PAPER SERIES BIDDER DISCOUNTS AND TARGET PREMIA IN TAKEOVERS Boyan Jovanovic Serguey Braguinsky Working Paper 9009 http://www.nber.org/papers/w9009 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We thank Luis Cabral, Masako Ueda, and the Finance Lunch group at ...
12,143
NBER
2,002
NBER WORKING PAPER SERIES BANKRUPTCY AND SMALL FIRMS’ ACCESS TO CREDIT Jeremy Berkowitz Michelle J. White Working Paper 9010 http://www.nber.org/papers/w9010 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We are grateful to Emily Lin for research assistance and to Patrick B...
16,662
NBER
2,002
NBER WORKING PAPER SERIES HOW COULD EVERYONE HAVE BEEN SO WRONG? FORECASTING THE GREAT DEPRESSION WITH THE RAILROADS Adam Klug John S. Landon-Lane Eugene N. White Working Paper 9011 http://www.nber.org/papers/w9011 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Although he ...
14,573
NBER
2,002
NBER WORKING PAPER SERIES MONETARY POLICY IN A FINANCIAL CRISIS Lawrence J. Christiano Christopher Gust Jorge Roldos Working Paper 9005 http://www.nber.org/papers/w9005 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We are grateful for advice and comments from Fabio Braggio...
39,331
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2,002
NBER WORKING PAPER SERIES ENDOGENOUS POLITICAL INSTITUTIONS Philippe Aghion Alberto Alesina Francesco Trebbi Working Paper 9006 http://www.nber.org/papers/w9006 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 We thank Daron Acemoglu, Marios Angeletos, Olivier Blanchard, Stef...
25,302
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2,002
NBER WORKING PAPER SERIES BIOTECH-PHARMACEUTICAL ALLIANCES AS A SIGNAL OF ASSET AND FIRM QUALITY Sean Nicholson Patricia M. Danzon Jeffrey McCullough Working Paper 9007 http://www.nber.org/papers/w9007 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 Financing for this resear...
22,617
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2,002
NBER WORKING PAPER SERIES THE BUSH TAX CUT AND NATIONAL SAVING Alan J. Auerbach Working Paper 9012 http://www.nber.org/papers/w9012 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2002 This paper was prepared for the May, 2002, Spring Symposium of the National Tax Association in ...
14,952