NBER working papers on-line.

• Position: Current Working Papers

A complete list of all NBER Working Papers with searchable abstracts, and the full texts of Working Papers (issued since November 1994) are available at http://www.nber.org/wwp.html to anyone located at a university or other organization that subscribes to the (hard copy) Working Paper series.

If you believe that your organization subscribes, but you cannot access the online Working Paper service, please e-mail the NBER at wwp@nber.org for more information and assistance.

Individual copies of NBER Working Papers, Historical Factors in Long-Run Growth Papers, and Technical Papers are available free of charge to Corporate Associates. For all others, there is a charge of $10.00 per hardcopy or $5.00 per downloaded paper. (Outside the United States, add $10.00 per order for postage and handling.) Advance payment is required on all orders. To order, call the Publications Department at (617)868-3900 or visit www.nber.org/papers. Please have ready the number(s) of any Working Paper(s) you wish to order.

Subscriptions to the full NBER Working Paper series include all 700 or more papers published each year. Subscriptions are free to Corporate Associates. For others within the United States, the standard rate for a full subscription is $2420; for academic libraries and faculty members, $1400. Higher rates apply for foreign orders. The on-line standard rate for a full subscription is $1715 and the on-line academic rate is $700. Partial Working Paper subscriptions, delineated by program, are also available.

For further information, see our Web site, or please write: National Bureau of Economic Research, 1050 Massachusetts Avenue, Cambridge, MA 02138-5398.

Titles of all papers issued since September 2004 are presented below. For previous papers, see past issues of the NBER Reporter. Working Papers are intended to make results of NBER research available to other economists in preliminary form to encourage discussion and suggestions for revision before final publication. They are not reviewed by the Board of Directors of the NBER.

NBER Working Papers Paper Author(s) Title 10750 Roberto Rigobon Rule of Law, Democracy, Openness, Dani Rodrik and Income: Estimating the Interrelationships 10751 Ricardo Hausmann The Long-Run Volatility Puzzle Ugo Panizza of the Real Exchange Rate Roberto Rigobon 10752 Robert W. Fogel High Performing Asian Economies 10753 John Joseph Wallis Sovereign Debt and Repudiation: The Richard E. Sylla Emerging-Market Debt Crisis in the Arthur Grinath III U.S. States, 1839-1843 10754 Steven Shavell The Appeals Process and Adjudicator 10755 Markus Brunnermeier Predatory Trading Lasse Heje Pedersen 10756 Pierre Collin-Dufresne Can Interest Rate Volatility be Robert S. Goldstein Extracted from the Cross Section Christopher S. Jones of Bond Yields? 10757 Kanika Kapur Socioeconomic Status and Medical Jeannette A. Rogowski Care Expenditures in Medicare Vicki A. Freedman Managed Care Steven L. Wickstrom John L. Adams Jose J. Escarce 10758 Richard A. Jensen Patent Licensing and the Research Marie C. Thursby University 10759 Isaac Ehrlich Explaining Diversities in Age- Yong Yin Specific Life Expectancies and Values of Life Saving: A Numerical Analysis 10760 A. Mitchell Polinsky Optimal Fines and Auditing When Wealth is Costly to Observe 10761 A. Mitchell Polinsky The Optimal Use of Fines and Imprisonment When Wealth is Unobservable 10762 Nancy E. Reichman Effects of Child Health on Sources Hope Corman of Public Support Kelly Noonan 10763 David Autor Will Job Testing Harm Minority David Scarborough Workers? 10764 Thomas Sargent Shocks and Government Beliefs: The Noah Williams Rise and Fall of American Inflation Tao Zha 10765 Jeremy Greenwood Technological Progress and Economic Ananth Seshadri Transformation 10766 Ross Levine Finance and Growth: Theory and Evidence 10767 Charles I. Jones Growth and Ideas 10768 Barry Eichengreen The Impact of China on the Exports Yeongseop Rhee of Other Asian Countries Hui Tong 10769 Manish Pandey Social Networks and Trade John Whalley Liberalization 10770 Marcin Kacperczyk On the Industry Concentration of Clemens Sialm Actively Managed Equity Mutual Lu Zheng Funds 10771 Boyan Jovanovic The Pre-Producers 10772 Jeremy Greenwood Marriage and Divorce since World Nezih Guner War II: Analyzing the Role of Technological Progress on the Formation of Households 10773 Sara B. Moeller Do Acquirers With More Uncertain Frederik P. Schlingemann Growth Prospects Gain Less From Rene M. Stulz Acquisitions? 10774 Christopher R. Knittel Compatibility and Pricing with Victor Stango Indirect Network Effects: Evidence from ATMs 10775 Edward Glaeser Corruption and Reform: An Claudia Goldin Introduction 10776 Paul Beaudry When Can Changes in Expectations Franck Portier Cause Business Cycle Fluctuation in Neo-Classical Settings? 10777 Jeffrey R. Kling Neighborhood Effects on Crime for Jens Ludwig Female and Male Youth: Evidence Lawrence F. Katz from a Randomized Housing Voucher Experiment 10778 Carol H. Shiue Markets in China and Europe on the Wolfgang Keller Eve of the Industrial Revolution 10779 Courtney C. Coile Bulls, Bears, and Retirement Phillip B. Levine Behavior 10780 Graciela L. Kaminsky When it Rains, it Pours: Carmen M. Reinhart Procyclical Capital Flows Carlos A. Vegh and Macroeconomic Policies 10781 Robert Dekle Financing Consumption in an Aging Japan: The Role of Foreign Capital Inflows Immigration 10782 Jeffrey R. Brown Supply or Demand: Why is the Market Amy Finkelstein for Long-Term Care Insurance So Small? 10783 Bruce A. Blonigen Working the System: Firm Learning and the Antidumping Process 10784 David S. Johnson Household Expenditure and the Jonathan A. Parker Income Tax Rebates of 2001 Nicholas S. Souleles 10785 Mihir A. Desai The Comovement of Returns and C. Fritz Foley Investment Within the Multinational Firm 10786 Ricardo J. Caballero Contingent Reserves Management: An Stavros Panageas Applied Framework 10787 Alan S. Blinder What Does the Pubic Know about Alan B. Krueger Economic Policy, and How Does It Know It? 10788 Silvia Ardagna Fiscal Discipline and the Cost of Francesco Caselli Public Debt Service: Some Estimates Timothy Lane for OECD Countries 10789 Li Gan Subjective Mortality Risk and Guan Gong Bequests Michael Hurd Daniel McFadden 10790 Enrique G. Mendoza Putting the Brakes on Sudden Stops: Ceyhun Bora Durdu The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees 10791 Matthew Gentzkow The Rise of the Fourth Estate: How Edward L. Glaeser Newspapers Became Informative and Claudia Goldin Why it Mattered 10792 Mikhail Golosov Designing Optimal Disability Aleh Tsyvinski Insurance: A Case for Asset Testing 10793 Jeremy Greenwood New Goods and the Transition to a Gokce Uysal New Economy 10794 Lily Qiu Investor Sentiment...