NBER Working Papers

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9960: The Unique Minimum State Variable RE Solution is E-Stable in All Well Formulated Linear Models

Bennett McCallum

9959: Housing Collateral, Consumption Insurance and Risk Premia: An Empirical Perpective

Hanno Lustig and Stijn Van Nieuwerburgh

9958: The "Virtues" of the Past: Education in the First Hundred Years of the New Republic

Claudia Goldin and Lawrence Katz

9957: Private Information and its Effect on Market Equilibrium: New Evidence from Long-Term Care Insurance

Amy Finkelstein and Kathleen McGarry

9956: Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market

Evan Gatev and Philip E. Strahan

9955: Advance Directives and Medical Treatment at the End of Life

Daniel Kessler and Mark B. McClellan

9954: Child Care in Poor Communities: Early Learning Effects of Type, Quality, and Stability

Susanna Loeb, Bruce Fuller, Sharon Lynn Kagan, Bidemi Carrol and Judith Carroll

9953: The Draw of Home: How Teachers' Preferences for Proximity Disadvantage Urban Schools

Donald Boyd, Hamilton Lankford and Susanna Loeb

9952: The Relationships between Mental Health and Substance Abuse Treatment and Juvenile Crime

Alison Evans Cuellar, Sara Markowitz and Anne M. Libby

9951: Capital Investments and Stock Returns

Sheridan Titman, K.C. John Wei and Feixue Xie

9950: Gone But Not Forgotten: Labor Flows, Knowledge Spillovers, and Enduring Social Capital

Ajay Agrawal, Iain Cockburn and John McHale

9949: Propping and Tunneling

Eric Friedman, Simon Johnson and Todd Mitton

9948: Official Interventions and Occasional Violations of Uncovered Interest Party in the Dollar-DM Market

Nelson Mark and Young-Kyu Moh

9947: Trade Policy and Industrial Sector Responses: Using Evolutionary Models to Interpret the Evidence

Erkan Erdem and James Tybout

9946: Partial Adjustment without Apology

Robert King and Julia Thomas

9945: Incomplete Contracts and the Product Cycle

Pol Antras

9944: Trade Disruptions and America's Early Industrialization

Douglas Irwin and Joseph H. Davis

9943: The Aftermath of Hamilton's "Report on Manufactures"

Douglas Irwin

9942: Does Information Undermine Brand? Information Intermediary Use and Preference for Branded Web Retailers

Joel Waldfogel and Lu Chen

9941: Changes in the Process of Aging During the Twentieth Century: Findings and Procedures of the Early Indicators Project

Robert Fogel

9940: The Terms of Trade and Economic Growth in the Periphery 1870-1938

Christopher Blattman, Jason Hwang and Jeffrey Williamson

9939: Optimal Inflation Targeting Rules

Marc Giannoni and Michael Woodford

9938: The Causes and Consequences of Distinctively Black Names

Roland Fryer and Steven Levitt

9937: The Magnitude and Nature of Risk Selection in Employer-Sponsored Health Plans

Sean Nicholson, Kate Bundorf, Rebecca M. Stein and Daniel Polsky

9936: On the Duration of Trade

Tibor Besedes and Thomas Prusa

9935: The Reappearing Masterpiece: Ranking American Artists and Art Works of the Late Twentieth Century

David Galenson

9934: Unbundling Institutions

Daron Acemoglu and Simon Johnson

9933: Becoming Oldest-Old: Evidence from Historical U.S. Data

Dora Costa and Joanna Lahey

9932: Tough Policies, Incredible Policies?

Andres Velasco and Alejandro Neut

9931: Micro-Foundations of Urban Agglomeration Economies

Gilles Duranton and Diego Puga

9930: Does the Source of Capital Affect Capital Structure?

Michael Faulkender and Mitchell Petersen

9929: Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria

Robert King and Alexander Wolman

9928: Importing Technology

Francesco Caselli and Daniel Wilson

9927: Uncovering the Risk-Return Relation in the Stock Market

Hui Guo and Robert F. Whitelaw

9926: How Should We Measure Consumer Confidence (Sentiment)? Evidence from the Michigan Survey of Consumers

Jeff Dominitz and Charles Manski

9925: Price Elasticity of Demand for Term Life Insurance and Adverse Selection

Mark V. Pauly, Kate H. Withers, Krupa Subramanian-Viswana, Jean Lemaire and John C. Hershey

9924: A New Approach to the Valuation of Intangible Capital

Jason Cummins

9923: Capital Deepening in American Manufacturing, 1850-1880

Jeremy Atack, Fred Bateman and Robert Margo

9922: On the Efficiency of Competitive Electricity Markets With Time-Invariant Retail Prices

Severin Borenstein and Stephen Holland

9921: Bank Concentration and Crises

Thorsten Beck, Asli Demirguc-Kunt and Ross Levine

9920: The Case for Auctioning Countermeasures in the WTO

Kyle Bagwell, Petros C. Mavroidis and Robert Staiger

9919: Adverse Selection and the Challenges to Stand-Alone Prescription Drug Insurance

Mark V. Pauly and Yuhui Zeng

9918: Mothers' and Fathers' Labor Supply in Fragile Families: The Role of Child Health

Hope Corman, Nancy E. Reichman and Kelly Noonan

9917: Passive Decisions and Potent Defaults

James Choi, David Laibson, Brigitte Madrian and Andrew Metrick

9916: Capital Tax Incidence: Fisherian Impressions from the Time Series

Casey Mulligan

9915: Disentangling Volatility from Jumps

Yacine Ait-Sahalia

9914: The Effect of Macroeconomic News on Beliefs and Preferences: Evidence from the Options Market

Alessandro Beber and Michael W. Brandt

9913: Pension Reform in Germany: The Impact on Retirement Decisions

Axel Borsch-Supan and Barbara Berkel

9912: The Role of Consumer Knowledge of Insurance Benefits in the Demand for Preventative Health

Steve Parente, David Salkever and Joan DaVanzo

9911: The Pricing of Job Characteristics When Markets Do Not Clear: Theory and Implications

Kevin Lang and Sumon Majumdar

9910: Identification and Estimation of Hedonic Models

Ivar Ekeland, James Heckman and Lars Nesheim

9909: How Do Patent Laws Influence Innovation? Evidence from Nineteenth-Century World Fairs

Petra Moser

9908: Debt Intolerance

Carmen Reinhart, Kenneth Rogoff and Miguel A. Savastano

9907: Parental Medicaid Expansions and Health Insurance Coverage

Anna Aizer and Jeffrey Grogger

9906: On the Hidden Links Between Financial and Trade Opening

Joshua Aizenman

9905: Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach

Pierpaolo Benigno and Michael Woodford

9904: The Economics of 'Acting White'

David Austen-Smith and Roland Fryer

9903: Procuring Knowledge

Stephen M. Maurer and Suzanne Scotchmer

9902: Household Saving in Germany: Results of the first SAVE study

Axel Borsch-Supan and Lothar Essig

9901: A Pound of Flesh or Just Proxy? Using Twin Differences to Estimate the Effect of Birth Weight on Life Chances

Dalton Conley, Kate Strully and Neil G. Bennett

9900: Does Exchange Rate Risk Matter for Welfare?

Paul Bergin and Ivan Tchakarov

9899: Changing Economic Geography and Vertical Linkages in Japan

Eiichi Tomiura

9898: Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

David Berger, Ricardo Caballero and Eduardo Engel

9897: Healthy, Wealthy, and Knowing Where to Live: Predicted Trajectories of Health, Wealth and Living Arrangements Among the Oldest Old

Florian Heiss, Michael Hurd and Axel Borsch-Supan

9896: What, Me Vote?

Richard Freeman

9895: Simulation and Estimation of Nonaddative Hedonic Models

James Heckman, Rosa Matzkin and Lars Nesheim

9894: Investor Rationality: Evidence from UK Property Capitalization Rates

Patric Hendershott and Bryan D. MacGregor

9893: Inventory Information

Huining Cao, Richard Lyons and Martin Evans

9892: Utility Evaluation of Risk in Retirement Saving Accounts

James Poterba, Joshua Rauh, Steven Venti and David Wise

9891: Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities

Patrick Bajari and Matthew Kahn

9890: Regulations, Market Structure, Institutions, and the Cost of Financial Intermediation

Asli Demirguc-Kunt, Luc Laeven and Ross Levine

9889: Are Structural Estimates of Auction Models Reasonable? Evidence from Experimental Data

Patrick Bajari and Ali Hortacsu

9888: Incentive-Compatible Guaranteed Renewable Health Insurance

Bradley Herring and Mark Pauly

9887: Six Challenges in Designing Equity-Based Pay

Brian J. Hall

9886: Cities, Regions and the Decline of Transport Costs

Edward Glaeser and Janet Kohlhase

9885: You Only Die Once: Managing Discrete Interdependent Risks

Geoffrey Heal and Howard Kunreuther

9884: Imperfect Knowledge, Inflation Expectations, and Monetary Policy

Athanasios Orphanides and John Williams

9883: Fees and Surcharging in automatic teller machine networks: Non-bank ATM providers versus large banks

Elizabeth W. Croft and Barbara Spencer

9882: What Works in Securities Law?

Rafael La Porta, Florencio Lopez- de-Silane and Andrei Shleifer

9881: The Effect of Schooling and Ability on Achievement Test Scores

Karsten Hansen, James Heckman and Kathleen Mullen

9880: Financial Integration: A New Methodology and an Illustration

Robert Flood and Andrew K. Rose

9879: Trade Reforms, Labor Regulations and Labor-Demand Elasticities: Empirical Evidence from India

Rana Hasan, Devashish Mitra and K Ramaswamy

9878: Analyzing the Determinants of the Matching Public School Teachers to Jobs: Estimating Compensating Differentials in Imperfect Labor Markets

Donald Boyd, Hamilton Lankford, Susanna Loeb and James Wyckoff

9877: Selection Bias, Comparative Advantage and Heterogeneous Returns to Education

James Heckman and Xuesong Li

9876: Peer Effects and Alcohol Use Among College Students

Michael Kremer and Dan M. Levy

9875: When Do Central Bank Interventions Influence Intra-Daily and Longer-Term Exchange Rate Movements?

Kathryn Dominguez

9874: The Impact of Price Regulation on the Launch Delay of New Drugs - Evidence from Twenty-Five Major Markets in the 1990s

Patricia Danzon, Y. Richard Wang and Liang Wang

9873: Are Emily and Greg More Employable than Lakisha and Jamal? A Field Experiment on Labor Market Discrimination

Marianne Bertrand and Sendhil Mullainathan

9872: Heckscher-Ohlin Theory and Individual Attitudes Towards Globalization

Kevin O'Rourke

9871: Entry Deterrence in Hospital Procedure Markets: A Simple Model of Learning-By-Doing

Leemore S. Dafny

9870: Who Gets Health Care?

Robert Fogel and Chulhee Lee

9869: Why the Welfare State Looks Like a Free Lunch

Peter Lindert

9868: Did American Welfare Capitalists Breach their Implicit Contracts? Preliminary Findings from Company-level Data, 1920-1940

Chiaki Moriguchi

9867: Flexible Exchange Rates as Shock Absorbers

Sebastian Edwards and Eduardo Levy Yeyati

9866: A New Measure of Monetary Shocks: Derivation and Implications

Christina Romer and David Romer

9865: The Economic Tragedy of the XXth Century: Growth in Africa

Elsa Artadi and Xavier Sala-i-Martin

9864: Explaining Sudden Stops, Growth Collapse and BOP Crises: The Case of Distortionary Output Taxes

Guillermo Calvo

9863: Market Evidence of Misperceived Prices and Mistaken Mortality Risks

Jay Bhattacharya, Dana Goldman and Neeraj Sood

9862: Anticipated Ramsey Reforms and the Uniform Taxation Principle: the Role of International Financial Markets

Stephanie Schmitt-Grohe and Martín Uribe

9861: Evaluating Portfolio Policies: A Duality Approach

Martin B. Haugh, Leonid Kogan and Jiang Wang