Papers Issued in 1991
- w3927 December 1991 Changes in Relative Wages, 1963-1987: Supply and Demand Factors
Lawrence F. Katz and Kevin M. Murphy
- w3928 December 1991 The Appointment-Book Problem and Commitment, With Applications to Refereeing and Medicine
Daniel S. Hamermesh
- w3926 December 1991 Labor Market Institutions, Liquidity Constraints, and Macroeconomic Stability
Frank R. Lichtenberg
- w3931 December 1991 How Long do Unilateral Target Zones Last?
Bernard Dumas and Lars E.O. Svensson
- w3930 December 1991 On the Sensitivity of R&D to Delicate Tax Changes: The Behavior of U.S. Multinationals in the 1980s
James R. Hines, Jr.
- w3929 December 1991 How Does It Matter?
Benjamin M. Friedman
- w3922 December 1991 The Cleansing Effect of Recessions
Ricardo J. Caballero and Mohamad L. Hammour
- w3923 December 1991 Organizational Failure and Government Transfers: Evidence From an Experiment in the Financing of Mental Health Care
Richard G. Frank and Martin Gaynor
- w3925 December 1991 The Effects of U.S. Tax Policy on the Income Repatriation Patterns of U.S. Multinational Corporations
Rosanne Altshuler and T. Scott Newlon
- w3924 December 1991 Income Shifting in U.S. Multinational Corporations
David Harris, Randall Morck, Joel Slemrod, and Bernard Yeung
- h0032 December 1991 Capital Flows to the New World as an Intergenerational Transfer
Alan M. Taylor and Jeffrey G. Williamson
- w3937 December 1991 Revisions and Investment Plans and the Stock Market Rate of Return
Mark Schankerman
- w3935 December 1991 Errors in Output Deflators Revisited: Unit Values and the PPI
Donald Siegel
- w3934 December 1991 Anatomy of a Financial Crisis
Frederic S. Mishkin
- w3933 December 1991 Local House Price Indexes: 1982-1991
Donald Haurin, Patric Hendershott, and Dongwook Kim
- w3932 December 1991 Consumption Taxes in a Life-Cycle Framework: Are Sin Taxes Regressive?
Andrew B. Lyon and Robert M. Schwab
- h0033 December 1991 Whom Did Protective Legislation Protect? Evidence From 1880
Jeremy Atack and Fred Bateman
- t0117 December 1991 Sources of Identifying Information in Evaluation Models
Joshua D. Angrist and Guido W. Imbens
- w3938 December 1991 Individual Retirement Accounts: A Review of the Evidence
Jonathan Skinner
- w3936 December 1991 Openness and Inflation: Theory and Evidence
David Romer
- w3942 December 1991 Anatomy of Financial Distress: An Examination of Junk-Bond Issuers
Paul Asquith, Robert Gertner, and David Scharfstein
- w3941 December 1991 Fiscal Federalism in Europe: Lessons From the United States Experience
Robert P. Inman and Daniel L. Rubinfeld
- w3940 December 1991 Why Didn't the Tax Reform Act of 1986 Raise Corporate Taxes?
James M. Poterba
- w3939 December 1991 The Structure of Production, Technical Change and Efficiency in a Multiproduct Industry: An Application to U.S. Airlines
David H. Good, M. Ishaq Nadiri, and Robin C. Sickles
- w3945 December 1991 Tax Policy and Urban Development: Evidence From The Indiana Enterprise Zone Program
Leslie E. Papke
- w3944 December 1991 The Debt Burden and Debt Maturity
Alessandro Missale and Olivier Jean Blanchard
- w3943 December 1991 The Adjustment Mechanism
Maurice Obstfeld
- w3911 November 1991 Do Bulls and Bears Move Across Borders? International Transmission of Stock Returns and Volatility as the World Turns
Wen-Ling Lin, Robert F. Engle, and Takatoshi Ito
- w3891 November 1991 The Role of Federal Taxation in the Supply of Municipal Bonds: Evidence From Municipal Governments
Gilbert E. Metcalf
- w3890 November 1991 Labor Demand: What Do We Know? What Don't We Know?
Daniel S. Hamermesh
- w3895 November 1991 Taxation and Foreign Direct Investment in the United States: A Reconsideration of the Evidence
Alan J. Auerbach and Kevin Hassett
- w3896 November 1991 Moderate Inflation
Rudiger Dornbusch and Stanley Fischer
- w3893 November 1991 Productivity Gains From the Implementation of Employee Training Programs
Ann P. Bartel
- w3892 November 1991 Monetary Policy, Business Cycles and the Behavior of Small Manufacturing Firms
Mark Gertler and Simon Gilchrist
- t0116 November 1991 A Note on the Time-Elimination Method For Solving Recursive Dynamic Economic Models
Casey B. Mulligan and Xavier Sala-i-Martin
- w3910 November 1991 Are Option-Implied Forecasts of Exchange Rate Volatility Excessively Variable?
Shang-Jin Wei and Jeffrey A. Frankel
- w3909 November 1991 Alcoholism, Work, and Income Over the Life Cycle
John Mullahy and Jody L. Sindelar
- w3907 November 1991 Liquidity Constraints and Intertemporal Consumer Optimization: Theory and Evidence From Durable Goods
Eun Young Chah, Valerie A. Ramey, and Ross M. Starr
- w3908 November 1991 Pension COLAs
Alan L. Gustman and Thomas L. Steinmeier
- w3897 November 1991 Does Employer Monopsony Power Increase Occupational Accidents? The Case of Kentucky Coal Mines
Shulamit Kahn
- w3898 November 1991 Pension Funding in the Public Sector
Olivia S. Mitchell and Robert S. Smith
- w3899 November 1991 The Marshall Plan: History's Most Successful Structural Adjustment Program
J. Bradford De Long and Barry Eichengreen
- w3900 November 1991 Which Households Own Municipal Bonds? Evidence From Tax Returns
Daniel R. Feenberg and James M. Poterba
- w3901 November 1991 Changes in Earnings Differentials in the 1980s: Concordance, Convergence, Causes, and Consequences
McKinley L. Blackburn, David E. Bloom, and Richard B. Freeman
- w3902 November 1991 Corporate Financial Policy, Taxation, and Macroeconomic Risk
Mark Gertler and R. Glenn Hubbard
- t0115 November 1991 Instrumental Variables Estimation of Average Treatment Effects in Econometrics and Epidemiology
Joshua D. Angrist
- w3894 November 1991 Continuous Versus Episodic Change: The Impact of Civil Rights Policy on the Economic Status of Blacks
John J. Donohue III and James Heckman
- w3903 November 1991 Productivity and Machinery Investment: A Long Run Look 1870-1980
J. Bradford De Long
- w3904 November 1991 Taxation of Labor Income and the Demand For Risky Assets
Douglas W. Elmendorf and Miles S. Kimball
- w3906 November 1991 A Theory of Debt Based on the Inalienability of Human Capital
Oliver Hart and John Moore
- w3905 November 1991 Productivity Gains From Geographic Concentration of human Capital: Evidence From the Cities
James E. Rauch
- w3915 November 1991 Social Security and Medicare Policy From the Perspective of Generational Accounting
Alan J. Auerbach, Jagadeesh Gokhale, and Laurence J. Kotlikoff
- w3913 November 1991 Borrowing Constraints and Two-Sided Altruism With an Application to Social Security
David Altig and Steve J. Davis
- w3914 November 1991 Environmental Impacts of a North American Free Trade Agreement
Gene M. Grossman and Alan B. Krueger
- w3912 November 1991 Estimating the Effect of Training on Employment and Unemployment Durations: Evidence From Experimental Data
John C. Ham and Robert J. LaLonde
- w3917 November 1991 The Currency Reform as the Last Stage of Economic and Monetary Union: Some Policy Questions
Alberto Giovannini
- w3916 November 1991 The Impact of Terms of Trade Shocks on a Small Open Economy: A Stochastic Analysis
Stephen J. Turnovsky
- w3921 November 1991 Bank Runs: Liquidity and Incentives
Russell Cooper and Thomas W. Ross
- w3918 November 1991 Devaluation Expectations: The Swedish Krona 1982-1991
Hans Lindberg, Lars E.O. Svensson, and Paul Soderlind
- w3919 November 1991 Speculative Attacks and Models of Balance-of-Payments Crises
Pierre-Richard Agenor, Jagdeep S. Bhandari, and Robert P. Flood
- w3920 November 1991 Identification and the Liquidity Effect of a Monetary Policy Shock
Lawrence J. Christiano and Martin Eichenbaum
- w3856 October 1991 Another Look at the Evidence on Money-Income Causality
Benjamin M. Friedman and Kenneth N. Kuttner
- w3855 October 1991 Fiscal Federalism and Optimum Currency Areas: Evidence for Europe From the United States
Xavier Sala-i-Martin and Jeffrey Sachs
- h0031 October 1991 The Use of Historical Census Data for Mortality and Fertility Research
Michael R. Haines
- w3871 October 1991 Younger Households Saving: Evidence From Japan and Italy
Albert Ando, Luigi Guiso, Daniele Terlizzese, and Daniel Dorsainvil
- w3869 October 1991 Endogenous Macroeconomic Growth Theory
Elhanan Helpman
- w3870 October 1991 Patent Races, Product Standards, and International Competition
Richard A. Jensen and Marie Thursby
- t0114 October 1991 Eastern Data and Western Attitudes
Edward E. Leamer
- t0113 October 1991 Workings of a City: Location, Education, and Production
Roland Benabou
- w3868 October 1991 Private Versus Socially Optimal Provision of Ex Ante Legal Advice
Louis Kaplow and Steven Shavell
- w3867 October 1991 Has Macro-Forecasting Failed?
Victor Zarnowitz
- w3865 October 1991 Irreversibility and Aggregate Investment
Giuseppe Bertola and Ricardo J. Caballero
- w3858 October 1991 How Computers Have Changed the Wage Structure: Evidence From Microdata, 1984-1989
Alan B. Krueger
- w3857 October 1991 Unobserved Ability, Efficiency Wages, and Interindustry Wage Differentials
McKinley Blackburn and David Neumark
- w3860 October 1991 The European Central Bank: Reshaping Monetary Politics in Europe
Alberto Alesina and Vittorio Grilli
- w3859 October 1991 Evidence on Employment Effects of Minimum Wages and Subminimum Wage Provisions From Panel Data on State Minimum Wage Laws
David Neumark and William Wascher
- w3861 October 1991 On Biases in the Measurement of Foreign Exchange Risk Premiums
Geert Bekaert and Robert J. Hodrick
- w3862 October 1991 Stock Price Manipulation, Market Microstructure and Asymmetric Information
Franklin Allen and Gary Gorton
- w3863 October 1991 What is a Business Cycle?
Victor Zarnowitz
- w3866 October 1991 Labor Turnover Costs and Average Labor Demand
Giuseppe Bertola
- w3864 October 1991 Flexibility, Investment, and Growth
Giuseppe Bertola
- w3885 October 1991 The Reincarnation of Keynesian Economics
N. Gregory Mankiw
- w3886 October 1991 Leapfrogging: A Theory of Cycles in National Technological Leadership
Elise Brezis, Paul Krugman, and Daniel Tsiddon
- w3883 October 1991 Do Labor Markets Provide Enough Short Hour Jobs? An Analysis of Work Hours and Work Incentives
James B. Rebitzer and Lowell J. Taylor
- w3884 October 1991 National Health Insurance Revisited
Victor R. Fuchs
- w3882 October 1991 Pension Substitution in the 1980s: Why the Shift Toward Defined Contribution Pension Plans?
Douglas L. Kruse
- w3881 October 1991 From Sharp Stabilization to Growth: On the Political Economy of Israel's Transition
Michael Bruno
- w3880 October 1991 Are Real House Prices Likely to Decline by 47 Percent?
Patric H. Hendershott
- w3879 October 1991 Why Does the Paper-Bill Spread Predict Real Economic Activity?
Benjamin M. Friedman and Kenneth N. Kuttner
- w3878 October 1991 Why Were Poverty Rates So High in the 1980s?
Rebecca M. Blank
- w3877 October 1991 The Consequences of Minimum Wage Laws: Some New Theoretical Ideas
James B. Rebitzer and Lowell J. Taylor
- w3876 October 1991 Financial Repression and Economic Growth
Nouriel Roubini and Xavier Sala-i-Martin
- w3874 October 1991 Housing and Saving in the United States
Jonathan Skinner
- w3875 October 1991 Crime and the Employment of Disadvantaged Youths
Richard B. Freeman
- w3873 October 1991 Asset Pricing and Intrinsic Values: A Review Essay
Bruce N. Lehmann
- w3872 October 1991 Hospital Costs and the Cost of Empty Hospital Beds
Martin Gaynor and Gerard F. Anderson
- w3889 October 1991 Private Beliefs and Information Externalities in the Foreign Exchange Market
Richard K. Lyons
- w3887 October 1991 The Effects of Public Infrastructure and R&D Capital on the Cost Structure and Performance of U.S. Manufacturing Industries
M. Ishaq Nadiri and Theofanis P. Mamuneas
- w3888 October 1991 An Ordered Probit Analysis of Transaction Stock Prices
Jerry A. Hausman, Andrew W. Lo, and A. Craig MacKinlay
- t0078 October 1991 Full Information Estimation and Stochastic Simulation of Models with Rational Expectations
Ray C. Fair and John B. Taylor
- r1626 October 1991 Increasing Returns, Industrialization, and Indeterminacy of Equilibrium
Matsuyama Kiminori
- r1630 October 1991 Credibility and Stabilization
Rudiger Dornbusch
- r1655 October 1991 Chartists, Fundamentalists and the Demand for Dollars
Jeffrey A. Frankel and Kenneth A. Froot
- r1644 October 1991 Is There a Corporate Debt Crisis? Another Look
Mark J. Warshawsky
- r1638 October 1991 Monetary Policy in the Open Economy
Rudiger Dornbusch and Alberto Giovannini
- r1645 October 1991 The Response of Consumption to Income
John Y. Campbell and N. Gregory Mankiw
- w3837 September 1991 Education and Unemployment of Women
Jacob Mincer
- w3838 September 1991 Education and Unemployment
Jacob Mincer
- w3834 September 1991 Risk-Sharing, Altruism, and the Factor Structure of Consumption
Fumio Hayashi, Joseph Altonji, and Laurence Kotlikoff
- w3835 September 1991 Do Tax-Exempt Bonds Really Subsidize Municipal Capital?
Roger H. Gordon and Gilbert E. Metcalf
- w3836 September 1991 Measuring Depreciation For Japan: Rejoinder to Dekle and Summers
Fumio Hayashi
- w3833 September 1991 The Informativeness of Prices: Search With Learning and Cost Uncertainty
Roland Benabou and Robert Gertner
- w3832 September 1991 Does Participation in Transfer Programs During Pregnancy Improve Birth Weight?
Janet Currie and Nancy Cole
- w3831 September 1991 Alcohol Control Policies and Motor Vehicle Fatalities
Frank J. Chaloupka, Henry Saffer, and Michael Grossman
- w3830 September 1991 Macroeconomic Policy and Elections in OECD Democracies
Alberto Alesina, Gerald D. Cohen, and Nouriel Roubini
- w3829 September 1991 What Ended the Great Depression?
Christina D. Romer
- w3828 September 1991 Investment in Capital Assets and Economic Performance: The U.S. Chemicals and Primary Metals Industries in Transition
Catherine J. Morrison
- w3827 September 1991 Skill Differentials in Canada in an Era of Rising Labor Market Inequality
Richard B. Freeman and Karen Needels
- w3845 September 1991 Trade Adjustment Assistance and Pareto Gains From Trade
Robert C. Feenstra and Tracy R. Lewis
- w3844 September 1991 Trigger Points and Budget Cuts: Explaining the Effects of Fiscal Austerity
Giuseppe Bertola and Allan Drazen
- w3843 September 1991 Changing Social Security Survivorship Benefits and the Poverty of Widows
Michael D. Hurd and David A. Wise
- w3842 September 1991 Measuring the Contribution of Public Infrastructure Capital in Sweden
Ernst R. Berndt and Bengt Hansson
- w3840 September 1991 Designing a Central Bank for Europe: A Cautionary Tale From the Early Years of the Federal Reserve System
Barry Eichengreen
- w3841 September 1991 Rail Costs and Capital Adjustments in a Quasi-Regulated Environment
Ann F. Friedlaender, Ernst R. Berndt, Judy Shaw-Er Wang Chiang, Mark Showalter, and Christopher A. Vellturo
- t0112 September 1991 Rational Frenzies and Crashes
Jeremy Bulow and Paul Klemperer
- w3839 September 1991 Tax Exporting, Federal Deductibility, and State Tax Structure
Gilbert E. Metcalf
- h0029 September 1991 The Rise of the Chicago Packers and the Origins of Meat Inspection and Antitrust
Gary D. Libecap
- w3852 September 1991 Halting Inflation in Italy and France After World War II
Alessandra Casella and Barry Eichengreen
- w3851 September 1991 Factor Shares and Savings in Endogenous Growth
Giuseppe Bertola
- w3850 September 1991 The Effects of Child Health on Marital Status
Hope Corman and Robert Kaestner
- w3848 September 1991 Policy Uncertainty, Persistence and Growth
Joshua Aizenman and Nancy Marion
- w3849 September 1991 World Interest Rates and Investment
Robert J. Barro
- w3847 September 1991 The Optimal Two-Bracket Linear Income Tax
Joel Slemrod, Shlomo Yitzhaki, and Joram Mayshar
- w3846 September 1991 Do Institutional Investors Destabilize Stock Prices? Evidence on Herding and Feedback Trading
Josef Lakonishok, Andrei Shleifer, and Robert W. Vishny
- w3853 September 1991 The University in the Marketplace: Some Insights and Some Puzzles
Michael Rothschild and Lawrence J. White
- h0030 September 1991 Agricultural Seasonality and the Organization of Manufacturing During Early Industrialization: The Contrast Between Britain and the United States
Kenneth L. Sokoloff and David Dollar
- w3854 September 1991 Changes in the Cyclical Sensitivity of Wages in the United States, 1891-1987
Steven G. Allen
- r1605 September 1991 Political Institutions and Fiscal Policy: Evidence from the U.S. Historical Record
Robert P. Inman and Michael A. Fitts
- r1593 September 1991 Benefits and Costs of HIV Testing
David E. Bloom and Sherry Glied
- w3813 August 1991 Endogenous Comparative Advantage, Government, and the Pattern of Trade
Richard H. Clarida and Ronald Findlay
- w3796 August 1991 Vanishing Tax on Capital Income in the Open Economy
Assaf Razin and Efraim Sadka
- w3800 August 1991 Labor Productivity and Market Competition in Japan
Tetsuji Yamada, Tadashi Yamada, and Guorn Liu
- w3797 August 1991 Incomplete Appropriability of R&D and the Role of Strategies and Cultural Factors in International Trade: A Japanese Case
Ryuzo Sato, Rama Ramachandran, and Shunichi Tsutsui
- w3801 August 1991 Crime Rates Versus Labor Market Conditions; Theory and Time-Series Evidence
Tadashi Yamada, Tetsuji Yamada, and Johan M. Kang
- w3798 August 1991 Information Handling and Firm Performance: Evidence from Reverse LBOs
Francois Degeorge and Richard Zeckhauser
- w3799 August 1991 A Theory of War Finance
Herschel I. Grossman and Taejoon Han
- w3802 August 1991 The Joint Consumption/Asset Demand Decision: A Case Study in Robust Estimation
Marjorie A. Flavin
- w3803 August 1991 Pricing, Patent Loss and the Market For Pharmaceuticals
Richard G. Frank and David S. Salkever
- w3804 August 1991 The Nonequivalence of High School Equivalents
Stephen V. Cameron and James J. Heckman
- t0110 August 1991 The Optimality of Nominal Contracts
Scott Freeman and Guido Tabellini
- w3806 August 1991 Exchange Rate Expectations and the Risk Premium: Tests For a Cross- Section of 17 Currencies
Jeffrey Frankel and Menzie Chinn
- w3807 August 1991 Patterns in Exchange Rate Forecasts for 25 Currencies
Menzie Chinn and Jeffrey Frankel
- w3805 August 1991 International Economic Transactions: Issues in Measurement and Empirical Research
Peter Hooper and J. David Richardson
- w3809 August 1991 Empirical Evidence on European Dual Exchange Rates and Its Relevance For Latin America
Nancy P. Marion
- w3808 August 1991 The Effects of Product Market Competition on Collective Bargaining Agreements: The Case of Foreign Competition in Canada
John M. Abowd and Thomas Lemieux
- w3814 August 1991 Entry, Dumping, and Shakeout
Richard H. Clarida
- w3812 August 1991 Co-Integration, Aggregate Consumption, and the Demand For Imports: A Structural Econometric Investigation
Richard H. Clarida
- w3810 August 1991 Short and Long Run Externalities
Eric J. Bartelsman, Ricardo J. Caballero, and Richard K. Lyons
- w3811 August 1991 The Real Exchange Rate, Exports, and Manufacturing Profits: A Theoreti- cal Framework With Some Empirical Support
Richard H. Clarida
- w3826 August 1991 How Much Has De-Unionisation Contributed to the Rise in Male Earnings Inequality?
Richard B. Freeman
- t0111 August 1991 Estimating Event Probabilities from Macroeconomic Models Using Stochastic Simulation
Ray C. Fair
- w3825 August 1991 Multinational Firms, Technology Diffusion and Trade
Wilfred J. Ethier and James R. Markusen
- w3824 August 1991 Money, Output and Prices: Evidence from A New Monetary Aggregate
Julio J. Rotemberg, John C. Driscoll, and James M. Poterba
- w3815 August 1991 Productivity in the Transportation Sector
Robert J. Gordon
- w3816 August 1991 Stabilization and Liberalization Policies in Central and Eastern Europe: Lessons From Latin America
Sebastian Edwards
- w3818 August 1991 The Significance of Technical Trading-Rule Profits in the Foreign Exchange Market: A Bootstrap Approach
Richard M. Levich and Lee R. Thomas
- w3817 August 1991 The Great Compression: The Wage Structure in the United States at Mid- Century
Claudia Goldin and Robert A. Margo
- w3819 August 1991 The European Monetary System: Credible at Last?
Jeffrey Frankel and Steven Phillips
- w3821 August 1991 Rules, Coordination and Manipulability Among Arbitrators
Janet Currie
- w3820 August 1991 Optimal Investment Strategies for University Endowment Funds
Robert C. Merton
- w3823 August 1991 An Aggregate Demand - Aggregate Supply Analysis of Japanese Monetary Policy, 1973-1990
Kenneth D. West
- w3822 August 1991 Optimal Law Enforcement with Self-Reporting of Behavior
Louis Kaplow and Steven Shavell
- t0088 August 1991 Does Correcting for Heteroskedasticity Help?
Frederic S. Mishkin
- t0075 August 1991 The Delivery of Market Timing Services: Newsletters Versus Market Timing Funds
Alex Kane
- r1584 August 1991 Extreme Inflation: Dynamics and Stabilization
Rudiger Dornbusch, Federico Sturzenegger, and Holger Wolf
- r1582 August 1991 The Cyclical Behavior of the Gross Flows of U.S. Workers
Olivier Jean Blanchard and Peter Diamond
- w3765 July 1991 Life Insurance Inadequacy - Evidence From a Sample of Older Widows
Alan J. Auerbach and Laurence Kotlikoff
- w3770 July 1991 An Altered U.S. Housing Finance System: Implications for Housing
Patric H. Hendershott
- h0027 July 1991 The Labor Force Participation of Older Americans in 1900: Further Results
Robert A. Margo
- w3769 July 1991 The "Gambler's Fallacy" in Lottery Play
Charles T. Clotfelter and Philip J. Cook
- w3768 July 1991 The Search for R&D Spillovers
Zvi Griliches
- w3767 July 1991 Foreign Direct Investment, Productive Capacity and Exchange Rate Regimes
Joshua Aizenman
- w3766 July 1991 The Peculiar Scale Economies of Lotto
Philip J. Cook and Charles T. Clotfelter
- w3762 July 1991 A Comparison of the Behavior of Japanese and U.S. Inventories
Kenneth D. West
- w3763 July 1991 Sources of Cycles in Japan, 1975-1987
Kenneth D. West
- w3764 July 1991 Learning and Wage Dynamics
Henry S. Farber and Robert Gibbons
- w3775 July 1991 Floating Exchange Rates in Peru, 1950-54
Richard K. Lyons
- w3777 July 1991 An Analysis of the Nature of Unemployment in Sri Lanka
William T. Dickens and Kevin Lang
- w3776 July 1991 Obstacles to Transforming Centrally-Planned Economies: The Role of Capital Markets
Guillermo A. Calvo and Jacob A. Frenkel
- w3771 July 1991 Measurement of Output and Quality Adjustment When Hedonics Cannot Be Used: An Illustration for the Day Care Industry
Swati Mukerjee and Ann Dryden Witte
- w3773 July 1991 Protecting Losers: Optimal Diversification, Insurance, and Trade Policy
S. Lael Brainard
- w3772 July 1991 External Debt and Political Instability
Sule Ozler and Guido Tabellini
- w3774 July 1991 Do OSHA Inspections Reduce Injuries? A Panel Analysis
Wayne B. Gray and John T. Scholz
- w3791 July 1991 Pervasive Shortages Under Socialism
Andrei Shleifer and Robert Vishny
- t0108 July 1991 Dividend Yields and Expected Stock Returns: Alternative Procedures for Interference and Measurement
Robert J. Hodrick
- w3789 July 1991 Sex Discrimination by Sex: Voting in a Professional Society
Alan E. Dillingham, Marianne A. Ferber, and Daniel S. Hamermesh
- w3790 July 1991 Characterizing Predictable Components in Excess Returns on Equity and Foreign Exchange Markets
Geert Bekaert and Robert J. Hodrick
- w3788 July 1991 Ethnic Capital and Intergenerational Mobility
George J. Borjas
- w3787 July 1991 Growth in Cities
Edward L. Glaeser, Hedi D. Kallal, Jose A. Scheinkman, and Andrei Shleifer
- w3786 July 1991 The Theory of Allocation and Its Implications for Marketing and Industrial Structure
Dennis W. Carlton
- w3793 July 1991 Are Economists' Traditional Trade Policy Views Still Valid?
Robert E. Baldwin
- w3794 July 1991 Corporate Restructuring and Investment Horizons
Bronwyn H. Hall
- w3792 July 1991 Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence
Robert Gibbons and Kevin J. Murphy
- t0109 July 1991 The Independence Axiom and Asset Returns
Larry G. Epstein and Stanley E. Zin
- w3779 July 1991 International Fiscal Policy Coordination and Competition: An Exposition
Assaf Razin and Efraim Sadka
- w3780 July 1991 How Valuable is Patent Protection? Estimates By Technology Field Using Patent Renewal Data
Mark Schankerman
- w3781 July 1991 How Much Do Taxes Discourage Incorporation.
Jeffrey K. MacKie-Mason and Roger H. Gordon
- w3778 July 1991 What Went Wrong? The Erosion of Relative Earnings and Employment Among Young Black Men in the 1980s
John Bound and Richard B. Freeman
- h0028 July 1991 The Market for Manufacturing Workers During Early Industrialization: The American Northeast, 1820 to 1860
Kenneth L. Sokoloff and Georgia C. Villaflor
- w3782 July 1991 Long-Term Contracting and Multiple-Price Systems
R. Glenn Hubbard and Robert J. Weiner
- w3783 July 1991 The Australian Pharmaceutical Subsidy Gambit: Transmuting Deadweight Loss and Oligopoly Rents to Consumer Surplus
Mark Johnston and Richard Zeckhauser
- w3784 July 1991 Fear of Flying? Economic Analysis of Airline Safety
Nancy L. Rose
- w3785 July 1991 Competition and Price Dispersion in the U.S. Airline Industry
Severin Borenstein and Nancy L. Rose
- t0107 July 1991 Randomization and Social Policy Evaluation Revisited
James J. Heckman
- w3795 July 1991 Assessing Target Zone Credibility: Mean Reversion and Devaluation Expectations in the ERM 1979-1992
Lars E.O. Svensson
- w3733 June 1991 Technology Adoption and Growth
Stephen L. Parente and Edward C. Prescott
- w3732 June 1991 The Diffusion of Technology and Inequality Among Nations
Boyan Jovanovic and Saul Lach
- w3737 June 1991 Japanese Foreign Direct Investment
Kenneth A. Froot
- w3736 June 1991 Black-White Earnings Over the 1970s and 1980s: Gender Differences in Trends
Francine D. Blau and Andrea H. Beller
- w3735 June 1991 A Fallacy of Composition
Ricardo J. Caballero
- w3734 June 1991 Dynamic (S,s) Economies
Ricardo J. Caballero and Eduardo M.R.A. Engel
- w3731 June 1991 Nonrational Actors and Financial Market Behavior
Richard Zeckhauser, Jayendu Patel, and Darryll Hendricks
- w3730 June 1991 Dividends and Profits: Some Unsubtle Foreign Influences
James R. Hines Jr.
- w3729 June 1991 Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy
Ricardo J. Caballero and Eduardo M.R.A. Engel
- w3728 June 1991 Gross Job Creation, Gross Job Destruction and Employment Reallocation
Steve J. Davis and John Haltiwanger
- w3727 June 1991 Do the Benefits of Fixed Exchange Rates Outweigh Their Costs? The Franc Zone in Africa
Shantayanan Devarajan and Dani Rodrik
- w3726 June 1991 Was the Great Depression a Low-Level Equilibrium?
John Dagsvik and Boyan Jovanovic
- w3747 June 1991 A Note on Internationally Coordinated Policy Packages Intended to be Robust Under Model Uncertainty
Jeffrey Frankel, Scott Erwin, and Katharine Rockett
- w3748 June 1991 Durable Goods: An Explanation for Their Slow Adjustment
Ricardo J. Caballero
- w3746 June 1991 A Longitudinal Analysis of Young Entrepreneurs in Australia and the United States
David G. Blanchflower and Bruce D. Meyer
- w3744 June 1991 Trends in Pension Benefit Formulas and Retirement Provisions
Olivia S. Mitchell
- w3745 June 1991 The Asset Allocation of Private Pension Plans
Leslie E. Papke
- w3743 June 1991 Expected Changes in the Workforce and Implications for Labor Markets
Phillip B. Levine and Olivia S. Mitchell
- w3742 June 1991 No News is Good News: An Asymmetric Model of Changing Volatility in Stock Returns
John Y. Campbell and Ludger Hentschel
- w3724 June 1991 Relationships Among the Family Incomes and Labor Market Outcomes of Relatives
Joseph G. Altonji and Thomas A. Dunn
- w3725 June 1991 U.S. Trade Policy in the 1980s: Turns -- and Roads Not Taken
J. David Richardson
- w3738 June 1991 Determinants of External Imbalances: The Role Taxes, Government Spending and Productivity
Leonardo Leiderman and Assaf Razin
- t0106 June 1991 The Relative Importance of Permanent and Transitory Components: Identi- fication and Some Theoretical Bounds
Danny Quah
- w3739 June 1991 A Model of Optimal Fines for Repeat Offenders
A. Mitchell Polinsky and Daniel L. Rubinfeld
- w3741 June 1991 How Would Universities Respond to Increased Federal Support for Graduate Students?
Ronald G. Ehrenberg, Daniel I. Rees, and Dominic J. Brewer
- w3740 June 1991 First Nature, Second Nature, and Metropolitan Location
Paul R. Krugman
- w3750 June 1991 Lifetime vs. Annual Perspectives on Tax Incidence
Don Fullerton and Diane Lim Rogers
- w3749 June 1991 Mergers, Deregulation and Cost Savings in the U.S. Rail Industry
Ernst R. Berndt, Ann F. Friedlaender, Judy Shaw-Er Wang Chiang, and Christopher A. Vellturo
- w3754 June 1991 Real Interest Rates and the Savings and Loan Crisis: The Moral Hazard Premium
John B. Shoven, Scott B. Smart, and Joel Waldfogel
- w3753 June 1991 The Timing of Intergenerational Transfers, Tax Policy, and Aggregate Savings
David Altig and Steve J. Davis
- w3752 June 1991 The Equity Premium and the Risk Free Rate: Matching the Moments
Stephen G. Cecchetti, Pok-sang Lam, and Nelson C. Clark
- w3751 June 1991 An Indicator of Future Inflation Extracted From the Steepness of the Interest Rate Yield Curve Along Its Entire Length
Jeffrey A. Frankel and Cara S. Lown
- w3755 June 1991 Technology Commitment and the Cost of Economic Fluctuations
Garey Ramey and Valerie A. Ramey
- w3756 June 1991 The Source of Fluctuations in Money: Evidence From Trade Credit
Valerie A. Ramey
- w3760 June 1991 What Moves the Stock and Bond Markets? A Variance Decomposition for Long-Term Asset Returns
John Y. Campbell and John Ammer
- w3758 June 1991 Economic Development, Urban Underemployment, and Income Inequality
James E. Rauch
- w3757 June 1991 How Fast Do Old Men Slow Down?
Ray C. Fair
- w3759 June 1991 Minimum Wages in Puerto Rico: Textbook Case of a Wage Floor?
Alida Castillo Freeman and Richard B. Freeman
- w3761 June 1991 On the Labor Market Effects of Immigration and Trade
George J. Borjas, Richard B. Freeman, and Lawrence F. Katz
- w3707 May 1991 Rational Finite Bubbles
Franklin Allen and Gary Gorton
- w3706 May 1991 Equalizing Exchange: A Study of the Effects of Trade Liberalization
Dan Ben-David
- w3705 May 1991 The Company You Keep: The Effects of Family and Neighborhood on Disadvantaged Youths
Anne C. Case and Lawrence F. Katz
- w3704 May 1991 The Decline in Black Teenage Labor Force Participation in the South, 1900-1970: The Role of Schooling
Robert A. Margo and T. Aldrich Finegan
- w3703 May 1991 Privatization in East European Transformation
Stanley Fischer
- w3702 May 1991 Growth, Macroeconomics, and Development
Stanley Fischer
- w3701 May 1991 The Socioeconomic Consequences of Teen Childbearing Reconsidered
Arline T. Geronimus and Sanders Korenman
- w3700 May 1991 Incentives, Optimality, and Publicly Provided Goods: The Case of Mental Health Services
Richard Frank and Martin Gaynor
- t0102 May 1991 Measures of Fit for Calibrated Models
Mark W. Watson
- w3699 May 1991 The Effect of Social Security on Labor Supply: A Cohort Analysis of the Notch Generation
Alan B. Krueger and Jorn-Steffen Pischke
- w3698 May 1991 From Centrally-Planned to Market Economies: The Road from CPE to PCPE
Guillermo A. Calvo and Jacob A. Frenkel
- w3712 May 1991 Invention and Bounded Learning by Doing
Alwyn Young
- w3713 May 1991 School Quality and Black-White Relative Earnings: A Direct Assessment
David Card and Alan B. Krueger
- w3711 May 1991 Security Baskets and Index-Linked Securities
Gary Gorton and George Pennacchi
- w3710 May 1991 Do Minimum Wages Reduce Employment? A Case Study of California, 1987-89
David Card
- w3709 May 1991 Taxation and Risk Taking: A General Equilibrium Perspective
Louis Kaplow
- w3692 May 1991 Bequest Taxes and Accumulation of Household Wealth: U.S. - Japan Comparison
Thomas A. Barthold and Takatoshi Ito
- w3694 May 1991 Unemployment and Infant Health: Times-Series Evidence from the State of Tennessee
Theodore J. Joyce and Naci H. Mocan
- w3695 May 1991 The Evolution of Buyout Pricing and Financial Structure
Steven N. Kaplan and Jeremy C. Stein
- w3693 May 1991 Omitted-Ability Bias and the Increase in the Return to Schooling
McKinley L. Blackburn and David Neumark
- w3696 May 1991 Information and the Scope of Liability for Breach of Contract: The Rule of Hadley V. Baxendale
Lucian Arye Bebchuk and Steven Shavell
- w3697 May 1991 Productivity, Market Power and Capacity Utilization When Spot Markets are Complete
Benjamin Eden and Zvi Griliches
- w3708 May 1991 A Note on Taxation as Social Insurance for Uncertain Labor Income
Louis Kaplow
- w3715 May 1991 Industrial Shifts, Skills Levels, and the Labor Market for White and Black Males
John Bound and Harry J. Holzer
- w3714 May 1991 The Demand for and Return to Education When Education Outcomes are Uncertain
Joseph G. Altonji
- t0105 May 1991 Confidence Intervals for the Largest Autoresgressive Root in U.S. Macroeconomic Time Series
James H. Stock
- w3722 May 1991 Wage Dispersion Between and Within U.S. Manufacturing Plants, 1963-1986
Steve J. Davis and John Haltiwanger
- w3723 May 1991 The Income Tax as Insurance: The Casualty Loss and Medical Expense Deductions and the Exclusion of the Medical Insurance Premiums
Louis Kaplow
- t0103 May 1991 A Theory of Workouts and the Effects of Reorganization Law
Robert Gertner and David Scharfstein
- t0104 May 1991 Financial Intermediation and Monetary Policies in the World Economy
Vittorio Grilli and Nouriel Roubini
- w3720 May 1991 Externalities from Labor Mobility
Laurence Ball
- w3721 May 1991 Political Instability, Political Weakness and Inflation: An Empirical Analysis
Sebastian Edwards and Guido Tabellini
- w3719 May 1991 Nonergodic Economic Growth
Steven N. Durlauf
- w3718 May 1991 Path Dependence in Aggregate Output
Steven N. Durlauf
- w3717 May 1991 Convergence of International Output Movements
Andrew B. Bernard and Steven N. Durlauf
- h0025 May 1991 Louis Brandeis, Work and Fatigue at the Start of the Twentieth Century: Prelude to Oregon's Hours Limitation Law
Jeremy Atack and Fred Bateman
- w3716 May 1991 Trade Orientation, Distortions and Growth in Developing Countries
Sebastian Edwards
- r1562 May 1991 The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1987
Robert Summers and Alan Heston
- w3676 April 1991 Earnings, Dividend Policy, and Present Value Relations: Building Blocks of Dividend Policy Invariant Cash Flows
Bruce N. Lehmann
- w3677 April 1991 Notes on Dynamic Factor Pricing Models
Bruce N. Lehmann
- w3675 April 1991 Alcohol Consumption During Prohibition
Jeffrey A. Miron and Jeffrey Zwiebel
- w3674 April 1991 Learning About Intervention Target Zones
Michael W. Klein and Karen K. Lewis
- w3673 April 1991 Rent Sharing in the Multi-Fibre Arrangement: Theory and Evidence from US Apparel Imports from Hong Kong
Kala Krishna, Refik Erzan, and Ling Hui Tan
- w3672 April 1991 Investment Policies in the GATT
Rachel McCulloch
- w3671 April 1991 Environmental Policy When Market Structure and Plant Locations are Endo-genous
James R. Markusen, Edward R. Morey, and Nancy Olewiler
- w3669 April 1991 Government, Financial Markets, and Economic Development
Joseph E. Stiglitz
- w3670 April 1991 Intramarginal Intervention in the EMS and the Target-Zone Model of Exchange-Rate Behavior
Kathryn M. Dominguez and Peter B. Kenen
- w3678 April 1991 Purchased Services, Outsourcing, Computers, and Productivity in Manufacturing
Donald Siegel and Zvi Griliches
- w3683 April 1991 Do Exchange Auctions Work? An Examination of the Bolivian Experience
Kathryn M. Dominguez
- w3681 April 1991 Measuring and Testing the Impact of News on Volatility
Robert F. Engle and Victor K. Ng
- w3682 April 1991 Time-Varying Volatility and the Dynamic Behavior of the Term Structure
Robert F. Engle and Victor K. Ng
- w3680 April 1991 Endogenous Capital Utilization and Productivity Measurement in Dynamic Factor Demand Models: Theory and an Application to the U.S. Electrical...
Ingmar R. Prucha and M. Ishaq Nadiri
- w3689 April 1991 Money versus Credit Rationing: Evidence for the National Banking Era, 1880-1914
Michael D. Bordo, Peter Rappoport, and Anna J. Schwartz
- w3679 April 1991 Trade Liberalization in a Multinational-Dominated Industry: A Theoretical and Applied General-Equilibrium Analysis
Linda Hunter, James R. Markusen, and Thomas F. Rutherford
- t0100 April 1991 Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots
John Y. Campbell and Pierre Perron
- w3687 April 1991 Trading, Communication and the Response of Price to New Information
Gary Gorton and James Dow
- h0024 April 1991 Stature and Living Standards in the United States
Richard H. Steckel
- w3684 April 1991 The EMS, the EMU, and the Transition to a Common Currency
Kenneth A. Froot and Kenneth Rogoff
- w3685 April 1991 Expected and Predicted Realignments: The FF/DM Exchange Rate During the EMS
Andrew K. Rose and Lars E.O. Svensson
- w3686 April 1991 Monetary Economics: A Review Essay
Herschel I. Grossman
- t0101 April 1991 On the Optimality of Reserve Requirements
Richard D. Cothren and Roger N. Waud
- w3691 April 1991 Immigration Policy, National Origin, and Immigrant Skills: A Comparison of Canada and the United States
George J. Borjas
- w3690 April 1991 Japan's High Saving Rate Reaffirmed
Robert Dekle and Lawrence H. Summers
- w3688 April 1991 Pensions, Bonding, and Lifetime Jobs
Steven G. Allen, Robert L. Clark, and Ann A. McDermed
- r1559 April 1991 An Aging Society: Opportunity or Challenge?
David M. Cutler, James M. Poterba, Louise M. Sheiner, and Lawrence H. Summers
- w3656 March 1991 International VAT Harmonization: Economic Effects
Jacob A. Frenkel, Assaf Razin, and Steve Symansky
- w3645 March 1991 The Enforceability of Private Money Contracts, Market Efficiency, and Technological Change
Gary Gorton
- w3650 March 1991 Externalities, Incentives and Failure to Achieve National Objectives in Decentralized Economies
Joshua Aizenman and Peter Isard
- w3649 March 1991 Tax Policy to Combat Global Warming: On Designing a Carbon Tax
James M. Poterba
- w3644 March 1991 Exchange Rate Volatility and International Prices
Robert C. Feenstra and Jon D. Kendall
- w3642 March 1991 Price Equilibrium, Efficiency, and Decentralizability in Insurance Markets
Richard Arnott and Joseph E. Stiglitz
- w3643 March 1991 Measuring Risk Aversion From Excess Returns on a Stock Index
Ray Chou, Robert F. Engle, and Alex Kane
- w3639 March 1991 Nursing Home Discharges and Exhaustion of Medicare Benefits
Alan M. Garber and Thomas E. MaCurdy
- w3640 March 1991 Actual and Warranted Relations Between Asset Prices
Andrea E. Beltratti and Robert J. Shiller
- w3641 March 1991 The Invisible Hand and Modern Welfare Economics
Joseph E. Stiglitz
- w3654 March 1991 Debt Concentration and Secondary Markets Prices: A Theoretical and Empirical Analysis
Raquel Fernandez and Sule Ozler
- w3653 March 1991 The Staying Power of Leveraged Buyouts
Steven N. Kaplan
- w3652 March 1991 Information, Finance, and Markets: The Architecture of Allocative Mechanisms
Bruce C. Greenwald and Joseph E. Stiglitz
- w3651 March 1991 Stochastic Equilibrium and Exchange Rate Determination in a Small Open Economy with Risk Averse Optimizing Agents
Earl L. Grinols and Stephen J. Turnovsky
- w3657 March 1991 Testing the Imports-as-Market-Discipline Hypothesis
James Levinsohn
- w3658 March 1991 Fiscal Deficits, Public Debt and Government Solvency: Evidence from OECD Countries
Giancarlo Corsetti and Nouriel Roubini
- w3655 March 1991 The Effect of the New Minimum Wage Law in a Low-Wage Labor Market
Lawrence F. Katz and Alan B. Krueger
- t0099 March 1991 Standard Risk Aversion
Miles S. Kimball
- w3648 March 1991 Efficient and Inefficient Employment Outcomes: A Study Based on Canadian Data
Louis N. Christofides and Andrew J. Oswald
- w3659 March 1991 The Distribution of Family Income: Measuring and Explaining Changes in the 1980s for Canada and the United States
McKinley L. Blackburn and David E. Bloom
- w3647 March 1991 Work Incentives and the Demand for Primary and Contingent Labor
James B. Rebitzer and Lowell J. Taylor
- w3646 March 1991 Why are Prices Sticky? Preliminary Results from an Interview Study
Alan S. Blinder
- w3662 March 1991 Targeting the Exchange Rate: An Empirical Investigation
Shula Pessach and Assaf Razin
- w3663 March 1991 Why Are There So Many Divided Senate Delegations?
Alberto Alesina, Morris Fiorina, and Howard Rosenthal
- w3661 March 1991 Political-Economy Arguments for a Uniform Tariff
Arvind Panagariya and Dani Rodrik
- w3660 March 1991 The Earnings of Linguistic Minorities: French in Canada and Spanish in the United States
David E. Bloom and Gilles Grenier
- w3668 March 1991 Distributive Politics and Economic Growth
Alberto Alesina and Dani Rodrik
- w3667 March 1991 Changes in the Structure of Wages in the Public and Private Sectors
Lawrence F. Katz and Alan B. Krueger
- w3666 March 1991 R&D Productivity: A Survey of Econometric Studies at the Firm Level
Jacques Mairesse and Mohamed Sassenou
- w3665 March 1991 Dispersion and Heterogeneity of Firm Performances in Nine French Service Industries, 1984-1987
Elizabeth Kremp and Jacques Mairesse
- w3664 March 1991 Wage Bargaining and Unemployment Persistence
Olivier Jean Blanchard
- r1537 March 1991 Japanese and U.S. Cross-Border Common Stock Investments
Kenneth R. French and James M. Poterba
- r1547 March 1991 The Sustainability of Fiscal Policy: New Answers to an Old Question
Olivier Blanchard, Jean-Claude Chouraqui, Robert P. Hagemann, and Nicola Sartor
- w3638 February 1991 Shareholder Trading Practices and Corporate Investment Horizons
Kenneth A. Froot, Andre F. Perold, and Jeremy C. Stein
- w3619 February 1991 Tax Policy and Business Fixed Investment in the United States
Alan J. Auerbach and Kevin Hassett
- w3620 February 1991 Reducing the Risk of Economic Crisis
Martin Feldstein
- w3618 February 1991 Asset Sales and Debt Capacity
Andrei Shleifer and Robert W. Vishny
- w3617 February 1991 Window Dressing by Pension Fund Managers
Josef Lakonishok, Andrei Shleifer, Richard Thaler, and Robert Vishny
- w3616 February 1991 Capital Formation in Latin America
Eliana Cardoso
- w3615 February 1991 Host Country Benefits of Foreign Investment
Magnus Blomstrom
- w3613 February 1991 Speculative Behavior in the Stock Markets: Evidence from the United States and Japan
Robert J. Shiller, Fumiko Kon-Ya, and Yoshiro Tsutsui
- w3614 February 1991 Internal Currency Markets and Production in the Soviet Union
Linda S. Goldberg and Il'dar Karimov
- w3612 February 1991 Was there a bubble in the 1929 Stock Market?
Peter Rappoport and Eugene N. White
- w3611 February 1991 A Model of the Political Economy of the United States
Alberto Alesina, John Londregan, and Howard Rosenthal
- w3610 February 1991 New Goods and Index Numbers: U.S. Import Prices
Robert C. Feenstra
- t0095 February 1991 The Effect of Insider Trading on Insiders' Reaction to Opportunities to "Waste" Corporate Value
Lucian Arye Bebchuk and Chaim Fershtman
- w3622 February 1991 Quality and Trade
Kevin M. Murphy and Andrei Shleifer
- w3621 February 1991 The Genesis of Inflation and the Costs of Disinflation
Laurence Ball
- w3627 February 1991 Internal Quota Allocation Schemes and the Costs of the MFA
Irene Trela and John Whalley
- w3626 February 1991 Recent U.S. Investment Behavior and the Tax Reform Act of 1986: A Disaggregate View
Alan J. Auerbach and Kevin Hassett
- w3624 February 1991 Updated Estimates of the Impact of Prenatal Care on Birthweight Outcomes by Race
Richard G. Frank, Donna Strobino, David S. Salkever, and Catherine A. Jackson
- w3625 February 1991 Product Demand, Cost of Production, Spillovers, and the Social Rate of Return to R&D
Jeffrey I. Bernstein and M. Ishaq Nadiri
- w3623 February 1991 Foreign Direct Investment in the U.S. and U.S. Trade
Robert E. Lipsey
- t0097 February 1991 Bargaining and the Division of Value in Corporate Reorganization
Lucian Arye Bebchuk and Howard F. Chang
- t0096 February 1991 The Effects of Insider Trading on Insiders' Choice Among Risky Investment Projects
Lucian Arye Bebchuk and Chaim Fershtman
- w3630 February 1991 Lump-Sums, Profit Sharing, and the Labor Costs in the Union Sector
Linda A. Bell and David Neumark
- h0022 February 1991 Precedence and Wealth: Evidence from Nineteenth Century Utah
David W. Galenson and Clayne L. Pope
- w3629 February 1991 Multiple Equilibria and Persistence in Aggregate Fluctuations
Steven N. Durlauf
- w3628 February 1991 Decomposing the Welfare Costs of Capital Tax Distortions: The Importance of Risk Assumptions
Bob Hamilton, Jack Mintz, and John Whalley
- w3636 February 1991 Currency Substitution and the Fluctuations of Foreign-Exchange Reserves with Credibly Fixed Exchange Rates
Alberto Giovannini
- w3635 February 1991 Why Do Countries and Industries with Large Seasonal Cycles Also Have Large Business Cycles?
J. Joseph Beaulieu, Jeffrey K. MacKie-Mason, and Jeffrey A. Miron
- w3634 February 1991 Decoupling Liability: Optimal Incentives for Care and Litigation
A. Mitchell Polinsky and Yeon-Koo Che
- w3633 February 1991 Asset Returns and Intertemporal Preferences
Shmuel Kandel and Robert F. Stambaugh
- w3632 February 1991 Is the Fisher Effect for Real? A Reexamination of the Relationship Between Inflation and Interest Rates
Frederic S. Mishkin
- w3631 February 1991 Habit Persistence and Durability in Aggregate Consumption: Empirical Tests
Wayne E. Ferson and George M. Constantinides
- h0023 February 1991 Long Term Changes in U.S. Agricultural Output per Worker, 1800 to 1900
Thomas Weiss
- w3637 February 1991 Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility: The Roles of Private Thrift, ...
Willem H. Buiter and Kenneth M. Kletzer
- r1512 February 1991 Chartists, Fundamentalists, and Trading in the Foreign Exchange Market
Jeffrey A. Frankel and Kenneth A. Froot
- r1500 February 1991 New Evidence on the Monetary Transmission Mechanism
Christina D. Romer and David H. Romer
- r1513 February 1991 What Is New-Keynesian Economics?
Robert J. Gordon
- r1522 February 1991 Inflation and Uncertainty at Short and Long Horizons
Laurence Ball and Stephen G. Cecchetti
- r1517 February 1991 Vertical Integration and Market Foreclosure
Oliver Hart and Jean Tirole
- r1523 February 1991 The Productivity of Capital in a Period of Slower Growth
Martin Neil Baily and Charles L. Schultze
- w3576 January 1991 Stochastic Devaluation Risk and the Empirical Fit of Target Zone Models
Giuseppe Bertola and Lars E.O. Svensson
- w3579 January 1991 Is Europe an Optimum Currency Area?
Barry Eichengreen
- w3578 January 1991 Is the Gasoline Tax Regressive?
James M. Poterba
- w3577 January 1991 Learning by Doing and the Dynamic Effects of International Trade
Alwyn Young
- w3574 January 1991 A Multi-Country Comparison of Term Structure Forecasts at Long Horizons
Philippe Jorion and Frederic Mishkin
- w3575 January 1991 National Origin and the Skills of Immigrants in the Postwar Period
George J. Borjas
- w3583 January 1991 Should the Holding Period Matter for the Intertemporal Consumption-BasedCAPM?
Karen K. Lewis
- w3582 January 1991 Assessing the Productivity of Information Technology Equipment in U.S. Manufacturing Industries
Catherine J. Morrison and Ernst R. Berndt
- w3581 January 1991 Human Capital, Technology, and the Wage Structure: What Do Time Series Show?
Jacob Mincer
- w3580 January 1991 Methodological Issues and the New Keynesian Economics
Joseph E. Stiglitz
- w3593 January 1991 The Effects of Pensions and Retirement Policies on Retirement in Higher Education
Alan L. Gustman and Thomas L. Steinmeier
- w3591 January 1991 Volatility Tests and Efficient Markets: A Review Essay
John H. Cochrane
- w3585 January 1991 From Inertia to Megainflation: Brazil in the 1980s
Eliana Cardoso
- w3584 January 1991 Price-Cost Margins, Exports and Productivity Growth: With an Application to Canadian Industries
Jeffrey I. Bernstein and Pierre A. Mohnen
- w3586 January 1991 Precautionary Motives for Holding Assets
Miles S. Kimball
- w3587 January 1991 Employer Size and Dual Labor Markets
James B. Rebitzer and Michael D. Robinson
- w3588 January 1991 Equilibrium in Competitive Insurance Markets with Moral Hazard
Richard Arnott and Joseph Stiglitz
- w3589 January 1991 Generational Accounts - A Meaningful Alternative to Deficit Accounting
Alan J. Auerbach, Jagadeesh Gokhale, and Laurence J. Kotlikoff
- w3590 January 1991 International Accounting Diversity: Does it Impact Market Participants?
Frederick D.S. Choi and Richard M. Levich
- w3594 January 1991 International Trade with Endogenous Technological Change
Luis A. Rivera-Batiz and Paul M. Romer
- w3592 January 1991 The Changing Fortunes of FHA's Mutual Mortgage Insurance Fund and the Legislative Response
Patric H. Hendershott and James A. Waddell
- w3595 January 1991 Money, Interest and Prices
Stanley Fischer
- t0094 January 1991 Heteroscedasticity Diagnostics Based on "Corrected" Standard Errors
Edward E. Leamer
- h0020 January 1991 Seasonality in Nineteenth Century Labor Markets
Stanley Engerman and Claudia Goldin
- w3596 January 1991 Macroeconomic Aspects of German Unification
Hans-Werner Sinn
- w3597 January 1991 Alexander Hamilton's Market Based Debt Reduction Plan
Peter M. Garber
- w3608 January 1991 The Fertility of Immigrant Women: Evidence from High Fertility Source Countries
Francine D. Blau
- w3598 January 1991 How Regional Differences in Taxes and Public Goods Distort Life Cycle Location Choices
Laurence Kotlikoff and Bernd Raffelhueschen
- w3599 January 1991 Is Inequality Harmful for Growth? Theory and Evidence
Torsten Persson and Guido Tabellini
- w3601 January 1991 Target Zones Big and Small
Francisco Delgado and Bernard Dumas
- w3600 January 1991 Trade Reforms, Credibility, and Development
Joshua Aizenman
- w3603 January 1991 Destabilizing Effects of Exchange-Rate Escape Clauses
Maurice Obstfeld
- w3602 January 1991 Intertemporal Labor Supply: An Assessment
David Card
- w3605 January 1991 Reconciling the Pattern of Trade with the Pattern of Migration
James E. Rauch
- w3604 January 1991 Government Revenue from Financial Repression
Alberto Giovannini and Martha de Melo
- w3607 January 1991 Cities in Space: Three Simple Models
Paul Krugman
- w3606 January 1991 Agricultural Productivity, Comparative Advantage and Economic Growth
Kiminori Matsuyama
- h0021 January 1991 A Home of One's Own: Aging and Homeownership in the United States in the late Nineteenth and Early Twentieth Centuries
Michael R. Haines and Allen C. Goodman
- w3609 January 1991 Investor Diversification and International Equity Markets
Kenneth R. French and James M. Poterba
- r1478 January 1991 The Role of Wages in the Inflation Process
Robert J. Gordon
- r1489 January 1991 Permanent and Transitory Movements in Labor Income: An Explanation for "Excess Smoothness" in Consumption
Danny Quah
- r1491 January 1991 Expected Utility, u-o Preferences, and Linear Distribution Classes: A Further Result
Hans-Werner Sinn
- r1498 January 1991 A Model of Currency Depreciation and the Debt-Inflation Spiral
Maurice Obstfeld
- r1496 January 1991 Capital, Labor, and Productivity
Paul Romer
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