Papers Issued in 1987
- w2454 December 1987 Wage Gaps vs. Output Gaps: Is There a Common Story for All of Europe?
Robert J. Gordon
- w2453 December 1987 Symmetric Pass-Through of Tariffs and Exchange Rates Under Imperfect Competition: An Empirical Test
Robert C. Feenstra
- w2452 December 1987 Quality Upgrading and its Welfare Cost in U.S. Steel Imports, 1969-74
Randi Boorstein and Robert C. Feenstra
- w2451 December 1987 Welfare Dominance: An Application to Commodity Taxation
Shlomo Yitzhaki and Joel Slemrod
- w2455 December 1987 U.S. Commercial Banks and the Developing Country Debt Crisis
Jeffrey Sachs and Harry Huizinga
- w2456 December 1987 Means of Payment in Takeovers: Results for the U.K. and U.S.
Robert S. Harris, Julian Franks, and Colin Mayer
- w2457 December 1987 Patents, Citations and Innovations: Tracing the Links
Manuel Trajtenberg
- w2458 December 1987 Information and Multi-Period Optimal Income Taxation with Government Commitment
Dagobert L. Brito, Jonathan H. Hamilton, Steven M. Slutsky, and Joseph E. Stiglitz
- w2460 December 1987 International Capital Mobility and Tax Evasion
Alberto Giovannini
- w2459 December 1987 Trigger Strategies and Price Dynamics in Equity and Foreign Exchange Markets
Paul R. Krugman
- w2461 December 1987 Some Notes on the Scientific Methods of Simon Kuznets
Robert W. Fogel
- w2462 December 1987 The Incidence and Efficiency Costs of Corporate Taxation when Corporate and Noncorporate Firms Produce the Same Good
Jane G. Gravelle and Laurence J. Kotlikoff
- w2464 December 1987 The Flexible Exchange Rate System: Experience and Alternatives
Rudiger Dornbusch and Jeffrey A. Frankel
- w2463 December 1987 Pension Backloading, Wage Taxes, and Work Disincentives
Laurence J. Kotlikoff and David A. Wise
- w2466 December 1987 The Gains from Fiscal Cooperation in the Two Commodity Real Trade Model
Stephen J. Turnovsky
- w2465 December 1987 Industry Effects and Appropriability Measures in the Stock Markets Valuation of R&D and Patents
Iain Cockburn and Zvi Griliches
- w2467 December 1987 Dynamic Strategic Monetary Policies and Coordination in Interdependent Economies
Stephen J. Turnovsky, Tamer Basar, and Vasco d'Orey
- w2468 December 1987 The Politics of Ambiguity
Alberto Alesina and Alex Cukierman
- w2472 December 1987 The Case of the Negative Nominal Interest Rates: New Estimates of the Term Structure of Interest Rates During the Great Depression
Stephen G. Cecchetti
- w2471 December 1987 The Dynamics of Housing Demand by the Elderly: Wealth, Cash Flow, and Demographic Effects
Jonathan Feinstein and Daniel McFadden
- w2469 December 1987 Quits, Moves, Spatial Equilibrium and Workplace Relocation
Jeffrey S. Zax
- w2470 December 1987 A Dynamic Programming Model of Retirement Behavior
John Rust
- w2477 December 1987 Productivity in American Whaling: The New Bedford Fleet in the Nineteenth Century
Lance Davis, Robert E. Gallman, and Teresa Hutchins
- w2478 December 1987 The Taxation of Income from Capital in the United States, 1980-86
Don Fullerton and Marios Karayannis
- w2476 December 1987 Real Rigidities and the Non-Neutrality of Money
Laurence Ball and David Romer
- w2475 December 1987 Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86
Stanley Fischer
- w2474 December 1987 Recent Developments in Macroeconomics: A Very Quick Refresher Course
N. Gregory Mankiw
- w2473 December 1987 Recent Developments in Macroeocnomics
Stanley Fischer
- w2450 December 1987 What Do We Learn from Unit Roots in Macroeconomic Time Series?
Danny Quah
- r0943 December 1987 Liquidity Constraints, Fiscal Policy, and Consumption
R. Glenn Hubbard and Kenneth L. Judd
- r0957 December 1987 Understanding the U.S. Dollar in the Eighties: The Expectations of Chartists and Fundamentalists
Jeffrey A. Frankel and Kenneth A. Froot
- w2430 November 1987 Tax Neutrality and Intangible Capital
Don Fullerton and Andrew B. Lyon
- w2429 November 1987 Risk, Uncertainty and Exchange Rates
Robert J. Hodrick
- w2427 November 1987 Federal Deductibility and Local Property Tax Rates
Douglas Holtz-Eakin and Harvey S. Rosen
- w2428 November 1987 Equilibrium Political Budget Cycles
Kenneth Rogoff
- w2425 November 1987 Inventories and the Propagation of Sectoral Shocks
Russell Cooper and John C. Haltiwanger
- w2426 November 1987 Pensions, Efficiency Wages, and Job Mobility
Alan L. Gustman and Thomas L. Steinmeier
- w2434 November 1987 Macroeconomic Effects of Price Controls: The Role of Market Structure
Elhanan Helpman
- w2433 November 1987 The Effect of Mental Distress on Income: Results from a Community Survey
Richard G. Frank and Paul J. Gertler
- w2432 November 1987 The Equilibrium and Optimal Timing of Price Changes
Laurence Ball and David Romer
- w2431 November 1987 Credible Commitment and Exchange Rate Stability: Canada's Interwar Experience
Michael D. Bordo and Angela Redish
- w2449 November 1987 Trade Policy under Endogenous Credibility
Charles Engel and Kenneth Kletzer
- w2448 November 1987 Economic Development and the Timing and Components of Population Growth
David E. Bloom and Richard B. Freeman
- w2447 November 1987 Factor Prices and Welfare Under Integrated Capital Markets
Carol L. Osler
- w2446 November 1987 Investor Behavior in the October 1987 Stock Market Crash: Survey Evidence
Robert J. Shiller
- w2444 November 1987 Nutrition and Infant Health in Japan
Tadashi Yamada, Tetsuji Yamada, and Frank Chaloupka
- w2445 November 1987 Predicting Criminal Recidivism Using "Split Population" Survival Time Models
Peter Schmidt and Ann Dryden Witte
- w2443 November 1987 Lending to an Insecure Sovereign
Herschel I. Grossman
- w2441 November 1987 Portfolio Diversification, Real Interest Rates, and the Balance of Payments
Carol L. Osler
- t0063 November 1987 Spurious Trend and Cycle in the State Space Decomposition of a Time Series with a Unit Root
Charles R. Nelson
- w2437 November 1987 Trade Deficits in the Long Run
Barry Eichengreen
- w2435 November 1987 The Real Exchange Rate and Employment in U.S. Manufacturing: State and Regional Results
William H. Branson and James P. Love
- w2436 November 1987 Permanent Income, Current Income, and Consumption
John Y. Campbell and N. Gregory Mankiw
- w2439 November 1987 Pension Wealth, Age-Wealth Profiles and the Distribution of Net Worth
Ann A. McDermed, Robert L. Clark, and Steven G. Allen
- w2438 November 1987 The Farm Labor Force by Region, 1820-1860: Revised Estimates and Implications for Growth
Thomas Weiss
- w2442 November 1987 Social Security and Earlier Retirement in Japan: Cross-Sectional Evidence
Tetsuji Yamada and Tadashi Yamada
- w2440 November 1987 Changes in the Cyclical Behavior of Individual Production Series
Christina D. Romer
- r0934 November 1987 Public Policy Implications of Declining Old-Age Mortality
James M. Poterba and Lawrence H. Summers
- w2395 October 1987 The Economic Consequences of Noise Traders
J. Bradford De Long, Andrei Shleifer, Lawrence H. Summers, and Robert J. Waldmann
- w2394 October 1987 Til Debt Do Us Part: The U.S. Capital Market and Foreign Lending, 1920-1955
Barry Eichengreen
- w2396 October 1987 Why are Wages Cyclical in the 1970's?
Rebecca M. Blank
- w2401 October 1987 Heteroskedasticity-Consistent Estimation of the Variance-Covariance Matrix for the Almost Ideal Demand System
Melvyn A. Fuss
- w2400 October 1987 Can Futures Market Data Be Used to Understand the Behavior of Real Interest Rates?
Frederic S. Mishkin
- w2399 October 1987 Contraction and Expansion: The Divergence of Private Sector and Public Sector Unionism in tht U.S.
Richard B. Freeman
- w2398 October 1987 Israel's Stabilization: A Two-Year Review
Michael Bruno and Sylvia Piterman
- w2397 October 1987 Disaggregating the Effect of the Business Cycle on the Distribution of Income
Rebecca M. Blank
- w2411 October 1987 The Marginal Value of Social Security
Michael D. Hurd
- w2410 October 1987 Investment, Openness, and Country Risk
Joshua Aizenman
- w2409 October 1987 Prospects for Liberalizing the International Trading System
Anne O. Krueger
- w2408 October 1987 United States-Japan Economic Relations
Rachel McCulloch
- w2407 October 1987 Transactions Costs and Internal Labor Markets
Sherwin Rosen
- w2406 October 1987 Economic Incentives and Political Institutions: Spending and Voting in School Budget Agenda
Thomas Romer, Howard Rosenthal, and Vincent Munley
- w2405 October 1987 The Political Economy of Fiscal Policy
Daniel E. Ingberman and Robert P. Inman
- w2404 October 1987 Energy, Obsolescence, and the Productivity Slowdown
Charles R. Hulten, James W. Robertson, and Frank C. Wykoff
- w2403 October 1987 Trade in Risky Assets
Lars E.O. Svensson
- w2402 October 1987 What Do We Know About Worker Displacement in the U.S.?
Daniel S. Hamermesh
- w2412 October 1987 The Equilibrium and Optimal Timing of Price Changes
Laurence Ball and David Romer
- w2413 October 1987 Seigniorage, Operating Rules and the High Inflation Trap
Michael Bruno and Stanley Fischer
- w2415 October 1987 The Importance of Gifts and Inheritances Among the Affluent
Michael D. Hurd and B. Gabriela Mundaca
- w2416 October 1987 Commitment and the Modern Union: Assessing the Link Between Premarital Cohabitation and Subsequent Marital Stability
Neil G. Bennett, Ann Klimas Blanc, and David E. Bloom
- w2414 October 1987 Worker Knowledge of Pension Provisions
Olivia S. Mitchell
- w2419 October 1987 Have Productivity Levels Converged? Productivity Growth, Convergence, and Welfare in the Very Long Run
J. Bradford De Long
- w2418 October 1987 The Costs of Conflict Resolution and Financial Distress: Evidence from the Texaco-Pennzoil Litigation
David M. Cutler and Lawrence H. Summers
- w2417 October 1987 Trade in Nominal Assets: Monetary Policy, and Price Level and Exchange Rate Risk
Lars E.O. Svensson
- w2421 October 1987 Bank Portfolio Choice with Private Information About Loan Quality: Theory and Implications for Regulation
Deborah Lucas and Robert L. McDonald
- w2423 October 1987 The Learning Curve and Optimal Production Under Uncertainty
Saman Majd and Robert S. Pindyck
- w2422 October 1987 Bank Financing and Investment Decisions with Asymmetric Information
Deborah Lucas and Robert L. McDonald
- w2420 October 1987 Import Competition and the Stock Market Return to Capital
Gene M. Grossman and James A. Levinsohn
- w2424 October 1987 Adjustment in the World Economy
Paul Krugman
- w2378 September 1987 Argentina: Debt and Macroeconomic Instability
Rudiger Dornbusch and Juan Carlos de Pablo
- w2379 September 1987 Debt Problems and the World Macro Economy
Rudiger Dornbusch
- w2380 September 1987 Is it Risk? Explaining Deviations from Uncovered Interest Parity
Robert E. Cumby
- w2381 September 1987 The Regularity of Business Cycles
Victor Zarnowitz
- w2382 September 1987 Social Security Reforms and Poverty Among Older Dual-Earner Couples
Olivia S. Mitchell
- w2384 September 1987 The Impact of Monetary Targeting in the United States: 1976-1984
Carl E. Walsh
- w2383 September 1987 Consumption Risk and International Asset Returns: Some Empirical Evidence
Robert E. Cumby
- w2387 September 1987 Financing Constraints and Corporate Investment
Steven Fazzari, R. Glenn Hubbard, and Bruce C. Petersen
- w2386 September 1987 Imperfect Competition and the Keynesian Cross
N. Gregory Mankiw
- w2385 September 1987 Order Backlogs and Production Smoothing
Kenneth D. West
- w2393 September 1987 Prices of Single Family Homes Since 1970: New Indexes for Four Cities
Karl E. Case and Robert J. Shiller
- w2391 September 1987 How Much Care Do the Aged Receive from Their Children? A Bimodal Picture of Contact and Assistance
Laurence J. Kotlikoff and John N. Morris
- w2388 September 1987 Dynamic Behavior of Imperfectly Competitive Economies with Multiple Equilibria
Russell Cooper
- w2389 September 1987 Fiscal Policies and the Stock Market: International Dimensions
Assaf Razin
- w2392 September 1987 Asset Accumulation, Information, and the Life Cycle
Mervyn A. King and Jonathan I. Leape
- w2373 September 1987 Resolving the International Debt Crisis
Stanley Fischer
- w2374 September 1987 Negotiated Trade Restrictions with Private Political Pressure
Robert C. Feenstra and Tracy R. Lewis
- w2376 September 1987 Finanial Policy and Speculative Runs with a Crawling Peg: Argentina 1979-1981
Robert E. Cumby and Sweder van Wijnbergen
- w2375 September 1987 Household Formation and Home Ownership: The Impacts of Demographics andTaxes
Patric H. Hendershott
- w2377 September 1987 The Interaction Between Capital Investment and R&D in Science-Based Firms
Saul Lach and Mark Schankerman
- w2390 September 1987 U.S. and Swedish Direct Investment and Exports
Magnus Blomstrom, Robert E. Lipsey, and Ksenia Kulchycky
- w2348 August 1987 Exchange Controls, Devaluations and Real Exchange Rates: The Latin American Experience
Sebastian Edwards
- w2369 August 1987 Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods
Sanford J. Grossman and Guy Laroque
- w2331 August 1987 Operative Gift and Bequest Motives
Andrew B. Abel
- w2336 August 1987 Risky Income, Life Cycle Consumption, and Precautionary Savings
Jonathan S. Skinner
- w2334 August 1987 Sibling and Intergenerational Correlations in Welfare Program Participation
Gary Solon, Mary Corcoran, Roger H. Gordon, and Deborah Laren
- w2333 August 1987 The Right Combination of Demand and Supply Policies: The Case for a Two-Handed Approach
Willem H. Buiter
- w2332 August 1987 Concepts and Measures of Federal Deficits and Debt and Their Impact on Economic Activity
Michael J. Boskin
- w2337 August 1987 The Effects of Technological Change on Earnings and Income Inequality inthe United States
McKinley L. Blackburn and David E. Bloom
- w2335 August 1987 Taxation and Output Growth: Evidence from African Countries
Jonathan S. Skinner
- w2339 August 1987 Sources of Macroeconomic Imbalances in the World Economy: A Simulation Approach
Jeffrey D. Sachs and Nouriel Roubini
- w2338 August 1987 Household Dissolution and the Choice of Alternative Living Arrangements Among Elderly Americans
Axel Borsch-Supan
- w2340 August 1987 Interest-Only/Principal-Only Mortgage-Backed Strips: A Valuation and Risk Analysis
Alan J. Marcus and Arnold Kling
- w2341 August 1987 The Term Structure of Interest Rates
Robert J. Shiller and J. Huston McCulloch
- w2344 August 1987 The Worldwide Change in the Behavior of Interest Rates and Prices in 1914
Robert B. Barsky, N. Gregory Mankiw, Jeffrey A. Miron, and David N. Weil
- w2345 August 1987 The ECU - An Imaginary or Embryonic Form of Money: What Can We Learn from History?
Michael D. Bordo and Anna J. Schwartz
- w2343 August 1987 Mean Reversion in Stock Prices: Evidence and Implications
James M. Poterba and Lawrence H. Summers
- w2342 August 1987 Breach of Trust in Hostile Takeovers
Andrei Shleifer and Lawrence H. Summers
- w2346 August 1987 A Cost-Effectiveness Analysis of Strategies to Reduce Infant Mortality
Hope Corman, Theodore Joyce, and Michael Grossman
- w2352 August 1987 Government Saving, Capital Formation and Wealth in the United States, 1947-1985
Michael J. Boskin, Marc S. Robinson, and Alan M. Huber
- w2350 August 1987 A Goodness of Fit Test of Dual Labor Market Theory
William T. Dickens and Kevin Lang
- w2351 August 1987 Arbitrator Behavior in Public Sector Wage Disputes
David E. Bloom
- w2349 August 1987 Imputing Corporate Tax Liabilities to Individual Taxpayers
Martin Feldstein
- w2347 August 1987 One Share/One Vote and the Market for Corporate Control
Sanford J. Grossman and Oliver D. Hart
- w2353 August 1987 The Marginal Excess Burden of Different Capital Tax Instruments
Don Fullerton and Yolanda K. Henderson
- w2355 August 1987 Taxes, Budget Deficits ad Consumer Spending: Some New Evidence
Martin Feldstein and Douglas W. Elmendorf
- w2354 August 1987 An Overlapping Generations Model of Electoral Competition
Alberto Alesina and Stephen E. Spear
- w2365 August 1987 Tariffs, the Real Exchange Rate and the Terms of Trade: On Two Popular Propositions in International Economics
Sebastian Edwards and Sweder van Wijnbergen
- w2363 August 1987 New Hope for the Expectations Hypothesis of the Term Structure of Interest Rates
Kenneth A. Froot
- w2362 August 1987 Tests of Excess Forecast Volatility in the Foreign Exchange and Stock Markets
Kenneth A. Froot
- w2361 August 1987 The Evolution of Public Sector Bargaining Laws
Henry S. Farber
- w2359 August 1987 Integrated Regressors and Tests of the Permanent Income Hypothesis
James H. Stock and Kenneth D. West
- w2360 August 1987 Seasonality, Cost Shocks, and the Production Smoothing Model of Inventories
Jeffrey A. Miron and Stephen P. Zeldes
- w2356 August 1987 Employee Crime, Monitoring, and the Efficiency Wage Hypothesis
William T. Dickens, Lawrence F. Katz, Kevin Lang, and Lawrence H. Summers
- w2357 August 1987 An Analysis of the Implications for Stock and Futures Price Volatility of Program Trading and Dynamic Hedging Strategies
Sanford J. Grossman
- w2358 August 1987 Credibility, Real Interest Rates, and the Optimal Speed of Trade Liberalization
Kenneth A. Froot
- w2367 August 1987 Recent Estimates of Time-Variation in the Conditional Variance and in the Exchange Risk Premium
Jeffrey A. Frankel
- w2368 August 1987 Returns to Seniority in Union and Nonunion Jobs: A New Look at the Evidence
Katharine G. Abraham and Henry S. Farber
- w2366 August 1987 Firm Characteristics, Unanticipated Inflation, and Stock Returns
Douglas K. Pearce and V. Vance Roley
- w2364 August 1987 On the Interpretation of Near Random-Walk Behavior in GNP
Kenneth D. West
- w2372 August 1987 Open Economy Macroeconomics: New Directions
Rudiger Dornbusch
- w2371 August 1987 Exchange Rates and U.S. Auto Competitiveness
J. David Richardson
- w2370 August 1987 Market Power and Exchange Rate Adjustment in the Presence of Quotas
Joshua Aizenman
- w2303 July 1987 Tests of International CAPM with Time-Varying Covariances
Charles Engel and Anthony P. Rodrigues
- w2304 July 1987 Productivity Levels and Productivity Change Under Unionism
Steven G. Allen
- w2305 July 1987 Homeownership Rates of Married Couples: An Econometric Investigation
Donald R. Haurin, Patric H. Hendershott, and David C. Ling
- w2306 July 1987 Wage Structures and Labor Turnover in the U.S. and in Japan
Jacob Mincer and Yoshio Higuchi
- w2311 July 1987 Menu Costs and the Neutrality of Money
Andrew C. Caplin and Daniel F. Spulber
- w2310 July 1987 Exchange Rate Policy Reconsidered
Richard C. Marston
- w2309 July 1987 Political vs. Currency Premia in International Real Interest Differentials: A Study of Forward Rates for 24 Countries
Jeffrey A. Frankel and Alan T. MacArthur
- w2308 July 1987 A Positive Theory of Fiscal Deficits and Government Debt in a Democracy
Alberto Alesina and Guido Tabellini
- w2314 July 1987 Income Originating in the State and Local Sector
Charles R. Hulten and Robert M. Schwab
- w2313 July 1987 Sectoral and National Aggregate Disturbances to Industrial Output in Seven European Countries
Alan C. Stockman
- w2307 July 1987 U.S. Firms in Latin American Service Industries
Magnus Blomstrom and Robert E. Lipsey
- w2312 July 1987 Inflation: Theory and Evidence
Bennett T. McCallum
- w2320 July 1987 Declining Unionization in Construction: The Facts and the Reasons
Steven G. Allen
- w2319 July 1987 Why Have Private Saving Rates in the United States and Canada Diverged?
Chris Carroll and Lawrence H. Summers
- w2318 July 1987 Financial Fragility and Economic Performance
Ben Bernanke and Mark Gertler
- w2317 July 1987 No Room for Weak Links in the Chain of Deposit Insurance Reform
Edward J. Kane
- w2316 July 1987 Implicit Contracts, Labor Mobility and Unemployment
Richard J. Arnott, Arthur Hosios, and Joseph Stiglitz
- w2315 July 1987 Costly Adjustment and Limited Borrowing: A Welfare Analysis of Policiesto Achieve External Balance
Joshua Aizenman and Marcelo Selowsky
- w2323 July 1987 Employee Retirement and a Firm's Pension Plan
Laurence J. Kotlikoff and David A. Wise
- w2322 July 1987 Treasury Bill Futures as Hedges Against Inflation Risk
Jayendu Patel and Richard J. Zeckhauser
- w2321 July 1987 The Mundell-Flemming Model: A Quarter Century Later
Jacob A. Frenkel and Assaf Razin
- w2324 July 1987 Aging, Moving, and Housing Wealth
Steven F. Venti and David A. Wise
- w2327 July 1987 Sticky Prices as Coordination Failure
Laurence Ball and David Romer
- w2326 July 1987 The Poverty of Widows: Future Prospects
Michael D. Hurd
- w2329 July 1987 The Role of Education: Mobility Increasing or Mobility Impeding?
Axel Borsch-Supan
- w2325 July 1987 The Wealth and Poverty of Widows: Assets Before and After the Husband's Death
Michael D. Hurd and David A. Wise
- w2328 July 1987 Long-Term Care, Wealth, and Health of the Disabled Elderly Living in the Community
Alan M. Garber
- w2330 July 1987 Ricardian Equivalence: An Evaluation of Theory and Evidence
B. Douglas Bernheim
- w2301 June 1987 Breath Testing and the Demand for Drunk Driving
Henry Saffer and Frank Chaloupka
- w2300 June 1987 Monetary Policy Lessons of recent Inflation and Disinflation
William Poole
- w2299 June 1987 Are User Fees Regressive? The Welfare Implications of Health Care Financing Proposals in Peru
Paul J. Gertler, Luis Locay, and Warren C. Sanderson
- w2302 June 1987 Monopolistic Competition, Credibility and the Output Costs of Disinflation Programs: An Analysis of Price Controls
Sweder van Wijnbergen
- w2271 June 1987 Inter-Industry Wage Differences and Theories of Wage Determination
William T. Dickens and Lawrence F. Katz
- w2272 June 1987 Housing Finance Imperfections and Private Saving: A Comparative Simulation Analysis of the U.S. and Japan
Fumio Hayashi, Takatoshi Ito, and Joel Slemrod
- w2276 June 1987 Developing the ECU Markets: Perspectives on Financial Innovation
Richard M. Levich
- w2277 June 1987 Financial Innovations in International Financial Markets
Richard M. Levich
- w2278 June 1987 Delay in Reporting Acquired Immune Deficiency Syndrome (AIDS)
Jeffrey E. Harris
- w2275 June 1987 On the Definition and Magnitude of Recent Capital Flight
Robert E. Cumby and Richard M. Levich
- w2273 June 1987 The Impact of Firm Acquisitions on Labor
Charles Brown and James L. Medoff
- w2274 June 1987 Is the U.S. a Spendthrift Nation?
Robert E. Lipsey and Irving B. Kravis
- w2279 June 1987 The Significance of Tax Law Asymmetries: An Empirical Investigation
Rosanne Altshuler and Alan J. Auerbach
- w2280 June 1987 Effects of the Changing U.S. Age Distribution on Macroeconomic Equations
Ray C. Fair and Kathryn M. Dominguez
- w2283 June 1987 Federal Assistance and Local Services in the United States: The Evolution of a New Federalist Fiscal Order
Robert P. Inman
- w2282 June 1987 The Effect of Family Background on Economic Status: A Longitudinal Analysis of Sibling Correlations
Gary Solon, Mary Corcoran, Roger H. Gordon, and Deborah Laren
- w2281 June 1987 Household Migration, Urban Growth, and Industrialization: The United States, 1850-1860
Richard H. Steckel
- w2287 June 1987 International Policy Coordination: The Case of the Developing Country Debt Crisis
Jeffrey D. Sachs
- w2286 June 1987 The Cost of Capital in the U.S. and Japan: A Comparison
Albert Ando and Alan J. Auerbach
- w2285 June 1987 Why Does Money Affect Output? A Survey
Olivier J. Blanchard
- w2284 June 1987 The Effect of Public Sector Labor laws on Collective Bargaining, Wages, and Employment
Richard B. Freeman and Robert G. Valletta
- w2298 June 1987 An Analysis of Fiscal Policy Under Operative and Inoperative Bequest Motives
Andrew B. Abel
- w2296 June 1987 Uncertainty and Liquidity
Alberto Giovannini
- w2295 June 1987 Characteristics of Hostile and Friendly Takeover Targets
Randall Morck, Andrei Shleifer, and Robert W. Vishny
- w2294 June 1987 Private Saving in the United States: 1950-85
Patric H. Hendershott and Joe Peek
- w2293 June 1987 International Coordination of Trade Policy
J. David Richardson
- w2289 June 1987 Understanding the Real Estate Provisions of Tax Reform: Motivation and Impact
James R. Follain, Patric H. Hendershott, and David C. Ling
- w2288 June 1987 Intergenerational Altruism and Social Welfare: A Critique of the Dynastic Model
B. Douglas Bernheim
- w2291 June 1987 The Timing of Retirement: A Comparison of Expectations and Realizations
B. Douglas Bernheim
- w2290 June 1987 Pricing Mortgages: An Interpretation of the Models and Results
Patric H. Hendershott and Robert Van Order
- w2292 June 1987 Federal Deductibility of State and Local Taxes: A Test of Public Choiceby Representative Government
Lawrence B. Lindsey
- w2297 June 1987 The Efficiency of Investment in the Presence of Aggregate Demand Spillovers
Andrei Shleifer and Robert W. Vishny
- w2237 May 1987 Intergenerational Transfers and Savings
Laurence J. Kotlikoff
- w2236 May 1987 Country Risk and Contingencies
Joshua Aizenman
- w2231 May 1987 The Marriage Tax is Down But Not Out
Harvey S. Rosen
- w2232 May 1987 Loan Commitments and Monetary Policy
George Sofianos, Arie Melnik, and Paul Wachtel
- w2230 May 1987 Real-Financial Linkages Among Open Economies
Sven W. Arndt and J. David Richardson
- w2233 May 1987 Econometric Modeling as Information Aggregation
Ray C. Fair and Robert J. Shiller
- w2234 May 1987 The Social Security Cost of Smoking
John B. Shoven, Jeffrey O. Sundberg, and John P. Bunker
- w2235 May 1987 International Competition in Services
Rachel McCulloch
- w2241 May 1987 Institutional Aspects of High Unemployment in the Federal Republic of Germany
Michael C. Burda and Jeffrey D. Sachs
- w2239 May 1987 A Generic Model of Monetary Policy, Inflation, and Reputation
Herschel I. Grossman
- w2240 May 1987 Changing Patterns of International Investment In and By the United States
Robert E. Lipsey
- w2238 May 1987 Constraints on the Choice of Work Hours: Agency vs. Specific-Capital
Shulamit Kahn and Kevin Lang
- w2243 May 1987 Share Repurchases and Acquisitions: An Analysis of Which Firms Participate
John B. Shoven and Laurie Blair Simon
- w2242 May 1987 Accounting for Racial Differences in School Attendance in the American South, 1900: The Role of Separate-But-Equal
Robert A. Margo
- w2248 May 1987 Self-Selection and the Earnings of Immigrants
George J. Borjas
- w2244 May 1987 International Macroeconomic Policy Coordination
Stanley Fischer
- w2245 May 1987 Home Ownership and Real House Prices: Sources of Change, 1965-85
Patric H. Hendershott
- w2246 May 1987 Implicit Taxation in Lottery Finance
Charles T. Clotfelter and Philip J. Cook
- w2247 May 1987 Intertemporal Constraints, Shadow Prices, and Financial Asset Values
Robert S. Chirinko
- w2249 May 1987 Are Exchange Rates Excessively Variable?
Jeffrey A. Frankel and Richard Meese
- w2251 May 1987 Efficient "Myopic" Asset Pricing in General Equilibrium: A Potential Pitfall in Excess Volatility Tests
Willem H. Buiter
- w2250 May 1987 Capital Controls and the Timing of Exchange Regime Collapse
Daekuen Park and Jeffrey Sachs
- w2252 May 1987 The Insensitivity of Consumption to News About Income
Kenneth D. West
- w2253 May 1987 Implicit Estimates of Natural, Trend, and Cyclical Components of Real GNP
Charles R. Nelson
- w2255 May 1987 The Stochastic Properties of Velocity: A New Interpretation
Michael D. Bordo and Lars Jonung
- w2256 May 1987 Future Social Security Financing Alternatives and National Saving
Michael J. Boskin
- w2254 May 1987 Unions and Efficiency in Private Sector Construction: Further Evidence
Steven G. Allen
- w2267 May 1987 The Decline of Unionization in the United States: What can Be Learned from Recent Experience?
Henry S. Farber
- w2266 May 1987 Pensions and Firm Performance
Steven G. Allen and Robert L. Clark
- w2265 May 1987 Consumption
Robert E. Hall
- w2264 May 1987 Investment Under Uncertainty: Theory and Tests with Industry Data
Robert E. Hall
- w2263 May 1987 Longitudinal Analysis of Strike Activity
David Card
- w2262 May 1987 Excess Capacity, Monopolistic Competition, and International Transmission of Monetary Disturbances
Lars E.O. Svensson and Sweder van Wijnbergen
- w2261 May 1987 Tariffs, Employment and the Current Account: Real Wage Resistance and the Macroeconomics of Protectionism
Sweder van Wijnbergen
- w2260 May 1987 Who Should Learn What From the Failure and Delayed Bailout of the ODGF?
Edward J. Kane
- w2258 May 1987 Testing Ricardian Neutrality with an Intertemporal Stochastic Model
Leonardo Leiderman and Assaf Razin
- w2259 May 1987 Nominally Sovereign Debt, Risk Shifting, and Reputation
Herschel I. Grossman and John B. Van Huyck
- w2257 May 1987 Social Security Benefits: An Empirical Study of Expectations and Realizations
B. Douglas Bernheim
- w2270 May 1987 The Optimal Collection of Seigniorage: Theory and Evidence
N. Gregory Mankiw
- w2269 May 1987 Regulation and the Provision of Quality to Heterogenous Consumers: The Case of Prospective Pricing of Medical Services
Robin Allen and Paul J. Gertler
- w2268 May 1987 Stabilization with Exchange Rate Management under Uncertainty
Allan Drazen and Elhanan Helpman
- t0035 May 1987 Misperceptions, Moral Hazard, and Incentives in Groups
Martin Gaynor
- r0838 May 1987 Why is the Unemployment Rate So Very High Near Full Employment?"
Lawrence H. Summers
- r0845 May 1987 Market Structures and Macroeconomic Fluctuations
Robert E. Hall
- r0840 May 1987 Some Skeptical Observations on Real Business Cycle Theory
Lawrence H. Summers
- w2216 April 1987 Short-term and Long-Term Expectations of the Yen/Dollar Exchange Rate: Evidence from Survey Data
Jeffrey A. Frankel and Kenneth A. Froot
- w2215 April 1987 Capital Gains Taxes Under the Tax Reform Act of 1986: Revenue EstimatesUnder Various Assumptions
Lawrence B. Lindsey
- w2214 April 1987 Anticipated Protectionist Policies, Real Exchange Rates and the Current Account
Sebastian Edwards and Jonathan D. Ostry
- w2213 April 1987 Dynamic Optimization in Two-Party Models
Warwick J. McKibbin, Nouriel Roubini, and Jeffrey Sachs
- w2212 April 1987 Measuring Market Power in U.S. Industry
Matthew D. Shapiro
- w2223 April 1987 Household Saving and Permanent Income in Canada and the United Kingdom
John Y. Campbell and Richard H. Clarida
- w2225 April 1987 The Financial Impact of Social Security by Cohort Under Alternative Financing Assumptions
Michael J. Boskin and Douglas J. Puffert
- w2217 April 1987 Have IRAs Increased U.S. Saving?: Evidence from Consumer Expenditure Surveys
Steven F. Venti and David A. Wise
- w2218 April 1987 The United States and Foreign Competition in Latin America
Sebastian Edwards
- w2219 April 1987 Discounting Rules for Risky Assets
Stewart C. Myers and Richard S. Ruback
- w2220 April 1987 Smuggler's Blues at the Central Bank: Lessons from Sudan
William H. Branson and Jorge Braga de Macedo
- w2221 April 1987 Relative Wage Variability in the United States, 1860-1983
Steven G. Allen
- w2224 April 1987 Tax Deductibility and Municipal Budget Structure
Douglas Holtz-Eakin and Harvey S. Rosen
- w2222 April 1987 The Effect of Economic Events on Votes for President: 1984 Update
Ray C. Fair
- w2227 April 1987 The Postwar Evolution of Computer Prices
Robert J. Gordon
- w2226 April 1987 Trade and Exchange Rate Policies in Growth-Oriented Adjustment Programs
Jeffrey D. Sachs
- w2228 April 1987 Interpreting Evidence on Money-Income Causality
James H. Stock and Mark W. Watson
- w2229 April 1987 Stochastic Trends and Economic Fluctuations
Robert G. King, Charles I. Plosser, James H. Stock, and Mark W. Watson
- w2206 April 1987 International Adjustment Under the Classical Gold Standard: Evidence for the U.S. and Britain, 1879-1914
Charles W. Calomiris and R. Glenn Hubbard
- w2207 April 1987 Economic Rents Derived from Hospital Privileges in the Market for Podiatric Services
Richard G. Frank, Jonathan P. Weiner, Donald M. Steinwachs, and David S. Salkever
- w2208 April 1987 U.S. and Foreign Competition in the Developing Countries of the Asian Pacific Rim
Robert E. Baldwin
- w2204 April 1987 Country Risk and the Organization of International Capital Transfer
Jonathan Eaton and Mark Gersovitz
- w2205 April 1987 Firm Size and R&D Intensity: A Re-Examination
Wesley M. Cohen, Richard C. Levin, and David C. Mowery
- w2203 April 1987 Peso Problems, Bubbles, and Risk in the Empirical Assessment of Exchange-Rate Behavior
Maurice Obstfeld
- w2202 April 1987 Successful Adjustment in a Multi-Sectoral Economy
Joshua Aizenman
- w2210 April 1987 International Capital Flows and Domestic Economic Policies
Jeffrey A. Frankel
- w2209 April 1987 The Permanent Income Hypothesis Revisited
Lawrence J. Christiano, Martin Eichenbaum, and David Marshall
- w2201 April 1987 Imperfect Information and Staggered Price Setting
Laurence Ball and Stephen G. Cecchetti
- w2211 April 1987 Negotiator Behavior Under Arbitration
David E. Bloom and Christopher L. Cavanagh
- w2175 March 1987 Tariffs, Terms of Trade, and the Real Exchange Rate in an Intertemporal Optimizing Model of the Current Account
Sebastian Edwards
- w2181 March 1987 Estimating Models with Intertemporal Substitution Using Aggregate Time Series Data
Martin S. Eichenbaum and Lars Peter Hansen
- w2180 March 1987 The Revenues-Expenditures Nexus: Evidence from Local Government Data
Douglas Holtz-Eakin, Whitney K. Newey, and Harvey S. Rosen
- w2189 March 1987 Pareto Efficient and Optimal Taxation and the New New Welfare Economics
Joseph E. Stiglitz
- w2187 March 1987 Existing Estimates, New Estimates, and New Interpretations of World War I and its Aftermath
Christina D. Romer
- w2188 March 1987 Money, Imperfect Information and Economic Fluctuations
Bruce Greenwald and Joseph E. Stiglitz
- w2186 March 1987 New Directions in the Relationship Between Public and Private Debt
Benjamin M. Friedman
- w2185 March 1987 Hiring Procedures in the Firm: Their Economic Determinants and Outcomes
Harry J. Holzer
- w2184 March 1987 Factors Affecting the Output and Quit Propensities of Production Workers
Roger Klein, Richard H. Spady, and Andrew Weiss
- w2183 March 1987 Can People Compute? An Experimental Test of the Life Cycle Consumption Model
Stephen Johnson, Laurence J. Kotlikoff, and William Samuelson
- w2182 March 1987 High Tech Trade Policy
Kala Krishna
- w2194 March 1987 Incentives and Worker Behavior: Some Evidence
Andrew Weiss
- w2193 March 1987 Hegemonic Stability Theories of the International Monetary System
Barry Eichengreen
- w2191 March 1987 The Effect of Takeover Activity on Corporate Research and Development
Bronwyn H. Hall
- w2192 March 1987 The Effects of Taxation on the Merger Decision
Alan J. Auerbach and David Reishus
- w2190 March 1987 International Competition in the Products of U.S. Basic Industries
Barry Eichengreen
- w2200 March 1987 Should Social Security Benefits Increase with Age?
Martin Feldstein
- w2196 March 1987 Privatization, Information and Incentives
David E. M. Sappington and Joseph E. Stiglitz
- w2195 March 1987 The Importance of Economic Policy in Development: Contrasts Between Korea and Turkey
Anne O. Krueger
- w2197 March 1987 City Taxes and Property Tax Bases
Katharine L. Bradbury and Helen F. Ladd
- w2198 March 1987 The Gold-Exchange Standard and the Great Depression
Barry Eichengreen
- w2199 March 1987 Why Was there Mandatory Retirement? or the Impossibility of Efficient Bonding Contracts
Kevin Lang
- w2178 March 1987 The Theory and the Facts of How Markets Clear: Is Industrial Organization Valuable for Understanding Macroeconomics?
Dennis W. Carlton
- w2174 March 1987 Optimal Liability when the Injurer's Information about the Victim's Loss is Imperfect
A. Mitchell Polinsky
- w2177 March 1987 Currency Incontrovertibility, Trade Taxes and Smuggling
Jorge Braga de Macedo
- w2172 March 1987 Public Debt Guarantees and Private Capital Flight
Jonathan Eaton
- w2179 March 1987 Economic Liberalization and the Equilibrium Real Exchange rate in Developing Countries
Sebastian Edwards
- w2176 March 1987 Carrots and Sticks: Pay, Supervision and Turnover
Jonathan S. Leonard
- w2169 February 1987 Permanent and Transitory Components in Macroeconomic Fluctuations
John Y. Campbell and N. Gregory Mankiw
- w2173 February 1987 Measuring the Effect of Subsidized Training Programs on Movements In andOut of Employment
David Card and Daniel Sullivan
- w2171 February 1987 Are Prices Too Sticky?
Laurence M. Ball and David Romer
- w2170 February 1987 Alternative Compensation Arrangements and Productive Efficiency in Partnerships: Evidence from Medical Group Practice
Martin Gaynor and Mark Pauly
- w2148 February 1987 Incentive Effects of Price Rises and Payment-System Changes on Chinese Agricultural Productivity Growth
John McMillan, John Whalley, and Zhu Li Jing
- w2143 February 1987 Money and the Consumption Goods Market in China
Richard Portes and Anita Santorum
- w2144 February 1987 Recent Evidence on Budget Deficits and National Savings
James M. Poterba and Lawrence H. Summers
- w2145 February 1987 Compensation and Firm Performance
Ronald G. Ehrenberg and George T. Milkovich
- w2142 February 1987 Brazil's Tropical Plan
Eliana A. Cardoso and Rudiger Dornbusch
- w2140 February 1987 The Real Effects of Foreign Inflation in the Presence of Currency Substitution
Charles Engel
- w2141 February 1987 Saving and Investment in an Open Economy with Non-Traded Goods
Charles Engel and Kenneth Kletzer
- w2151 February 1987 The Dollar and Real Interest Rates
John Y. Campbell and Richard H. Clarida
- w2152 February 1987 Monopolistic Competition and Labor Market Adjustment in the Open Economy
Joshua Aizenman
- w2146 February 1987 Supply Shocks in Macroeconomics
Matthew D. Shapiro
- w2147 February 1987 Are Cyclical Fluctuations in Productivity Due More to Supply Shocks or Demand Shocks?
Matthew D. Shapiro
- w2162 February 1987 The Liberalization of the Current Capital Accounts and the Real ExchangeRate
Sebastian Edwards
- w2161 February 1987 Suing Solely to Extract a Settlement Offer
Lucian Arye Bebchuk
- w2160 February 1987 Keynesian, New Keynesian, and New Classical Economics
Bruce C. Greenwald and Joseph E. Stiglitz
- w2159 February 1987 Infant-Industry Protection Reconsidered: The Case of Informational Barriers to Entry
Gene M. Grossman and Henrik Horn
- w2157 February 1987 Money: Theoretical Analysis of the Demand for Money
Bennett T. McCallum and Marvin S. Goodfriend
- w2158 February 1987 Finite Lifetimes, Borrowing Constraints, and Short-Run Fiscal Policy
R. Glenn Hubbard and Kenneth L. Judd
- w2156 February 1987 The Development of Keynesian Macroeconomics
Bennett T. McCallum
- w2154 February 1987 Specification of the Joy of Giving: Insights from Altruism
Andrew B. Abel and Mark Warshawsky
- w2155 February 1987 Dynamic Factor Models of Consumption, Hours, and Income
Joseph G. Altonji, Ana Paula Martins, and Aloysius Siow
- w2153 February 1987 Inflation Stabilization with Incomes Policy Support: A Review of the Experience in Argentina, Brazil and Israel
Rudiger Dornbusch and Mario Henrique Simonsen
- w2149 February 1987 The Life-Cycle Permanent-Income Model and Consumer Durables
Avner Bar-Ilan and Alan S. Blinder
- w2150 February 1987 Optimal Choice of Monetary Policy Instruments in a Macroeconometric Model
Ray C. Fair
- w2167 February 1987 Validating Hiring Criteria
Andrew Weiss and Henry Landau
- w2168 February 1987 Stock Market Prices Do Not Follow Random Walks: Evidence From a Simple Specification Test
Andrew W. Lo and A. Craig MacKinlay
- w2166 February 1987 Central Policies for Local Debt: The Case of Teacher Pensions
Robert P. Inman and David J. Albright
- w2165 February 1987 Project Appraisal and Foreign Exchange Constraints: A Simple Exposition
Charles R. Blitzer, Partha Dasgupta, and Joseph E. Stiglitz
- w2164 February 1987 Macro-Economic Equilibrium and Credit Rationing
Joseph E. Stiglitz and Andrew Weiss
- w2163 February 1987 The International Monetary System: Should it be Reconsidered?
Jacob A. Frenkel
- w2118 1987 Why Have Corporate Tax Revenues Declined?
Alan J. Auerbach and James M. Poterba
- w2116 1987 Testing for Real Effects of Monetary Policy Regime Shifts
Carl E. Walsh
- w2117 1987 Social Security and the American Family
Michael J. Boskin and Douglas J. Puffert
- w2120 1987 Household Behavior and the Tax Reform Act of 1986
Jerry A. Hausman and James M. Poterba
- w2133 1987 Monetary Growth, Inflation, and Economic Activity in a Dynamic Macro Model
Stephen J. Turnovsky
- w2132 1987 Should Tax Reform Level the Playing Field?
Lawrence H. Summers
- w2131 1987 New Estimates of State and Local Government Tangible Capital and Net Investment
Michael J. Boskin, Marc S. Robinson, and Alan M. Huber
- w2130 1987 Fiscal Deficits, Exchange Rate Crises and Inflation
Sweder van Wijnbergen
- w2128 1987 Tax Policy, Asset Prices, and Growth: A General Equilibrium Analysis
Lawrence H. Goulder and Lawrence H. Summers
- w2129 1987 Ultimate Sources of Aggregate Variability
Robert J. Shiller
- w2127 1987 Neoclassical and Sociological Perspectives on Segmented Labor Markets
Kevin Lang and William T. Dickens
- w2123 1987 Alternative Modes of Deficit Financing and Endogenous Monetary and Fiscal Policy 1923-1982
Stephen J. Turnovsky
- w2124 1987 The Adjustment of Expectations to a Change in Regime: A Study of the Founding of the Federal Reserve
N. Gregory Mankiw, Jeffrey A. Miron, and David N. Weil
- w2125 1987 The Response of Interest Rates to the Federal Reserve's Weekly Money Announcements: The "Puzzle" of Anticipated Money
Richard Deaves, Angelo Melino, and James E. Pesando
- w2126 1987 The Anatomy of Financial Crises
Barry Eichengreen and Richard Portes
- w2121 1987 Labor Supply Preferences, Hours Constraints, and Hours-Wage Tradeoffs
Joseph G. Altonji and Christina H. Paxson
- w2119 1987 Tax Evasion and Capital Gains Taxation
James M. Poterba
- w2138 1987 Our LDC Debts
Rudiger Dornbusch
- w2139 1987 Divergent Expectations as a Cause of Disagreement in Bargaining: Evidence from a Comparison of Arbitration Schemes."
Henry S. Farber and Max H. Bazerman
- w2137 1987 Collective Bargaining and the Division of the Value of the Enterprise
John M. Abowd
- w2135 1987 Why Do Fixed-Effects Models Perform So Poorly? The Case of Academic Salaries
Daniel S. Hamermesh
- w2134 1987 Is Consumption Too Smooth?
John Y. Campbell and Angus Deaton
- w2122 1987 How Far Has the Dollar Fallen?
Philippe Bacchetta and Martin Feldstein
- w2136 1987 Optimal Monetary Growth
Andrew B. Abel
- r0816 1987 Introduction: Continuity and Change in Theory, Behavior, and Methodology
Robert J. Gordon
- r0806 1987 Tax Aversion and the Laffer Curve
Roger N. Waud
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