NBER Working Papers by Joseph E. Stiglitz

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Working Papers

March 2014Intellectual Property Rights, the Pool of Knowledge, and Innovation
August 2013Optimality and Equilibrium In a Competitive Insurance Market Under Adverse Selection and Moral Hazard
with Jungyoll Yun: w19317
May 2013Optimal Provision of Loans and Insurance Against Unemployment From A Lifetime Perspective
with Jungyoll Yun: w19064
March 2010Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?
with Marcus Miller: w15817
Equilibrium Fictions: A Cognitive Approach to Societal Rigidity
with Karla Hoff: w15776
February 2010Risk and Global Economic Architecture: Why Full Financial Integration May Be Undesirable
January 2009Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk
with Stefano Battiston, Domenico Delli Gatti, Mauro Gallegati, Bruce C. Greenwald: w15611
June 2008Financially Constrained Fluctuations in an Evolving Network Economy
with Domenico Delli Gatti, Mauro Gallegati, Bruce C. Greenwald, Alberto Russo: w14112
March 2008Dividend Taxation and Intertemporal Tax Arbitrage
with Anton Korinek: w13858
July 2007Net Worth, Exchange Rates, and Monetary Policy: The Effects of a Devaluation in a Financially Fragile Environment
with Domenico Delli Gatti, Mauro Gallegati, Bruce C. Greenwald: w13244
February 2006The Economic Costs of the Iraq War: An Appraisal Three Years After the Beginning of the Conflict
with Linda Bilmes: w12054
January 2006Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later
with Sergio Godoy: w11992
November 2005The Creation of the Rule of Law and the Legitimacy of Property Rights: The Political and Economic Consequences of a Corrupt Privatization
with Karla Hoff: w11772
October 2002After the Big Bang? Obstacles to the Emergence of the Rule of Law in Post-Communist Societies
with Karla Hoff: w9282
September 2002Integration of Unemployment Insurance with Retirement Insurance
with Jungyoll Yun: w9199
May 1997Discouraging Rivals: Managerial Rent-Seeking and Economic Inefficiencies
with Aaron S. Edlin: w4145
January 1994The Role of Exclusive Territories in Producers' Competition
with Patrick Rey: w4618
December 1993Banks versus Markets as Mechanisms for Allocating and Coordinating Investment
November 1993Information and Economic Efficiency
with Richard Arnott, Bruce Greenwald: w4533
October 1993Short-Term Contracts as a Monitoring Device
with Patrick Rey: w4514
September 1993New and Old Keynesians
with Bruce Greenwald: r1810
Capital Markets and Economic Fluctuations in Capitalist Economies
May 1993Equilibrium Unemployment as a Worker Screening Device
with Barry Nalebuff, Andres Rodriguez: w4357
March 1993Endogenous Growth and Cycles
September 1992Some Theoretical Aspects of the Privatization: Applications to Eastern Europe
July 1992Towards a Reformulation of Monetary Theory: Competitive Banking
with Bruce Greenwald: w4117
April 1991Government, Financial Markets, and Economic Development
March 1991The Invisible Hand and Modern Welfare Economics
Price Equilibrium, Efficiency, and Decentralizability in Insurance Markets
with Richard Arnott: w3642
Information, Finance, and Markets: The Architecture of Allocative Mechanisms
with Bruce C. Greenwald: w3652
January 1991Financial Market Imperfections and Productivity Growth
with Bruce C. Greenwald: w2945
Methodological Issues and the New Keynesian Economics
Equilibrium in Competitive Insurance Markets with Moral Hazard
with Richard Arnott: w3588
December 1990Macroeconomic Models with Equity and Credit Rationing
with Bruce C. Greenwald: w3533
November 1990Sorting Out the Differences Between Signaling and Screening Models
with Andrew Weiss: t0093
October 1990Sources of Technological Divergence between Developed and Less Developed Economies
with Raaj Kumar Sah: r1455
May 1990Asymmetric Information and the New Theory of the Firm: Financial Constraints and Risk Behavior
with Bruce C. Greenwald: w3359
April 1990The Welfare Economics of Moral Hazard
with Richard Arnott: w3316
March 1990Pareto Efficient Tax Structures
with Dagobert L. Brito, Jonathan H. Hamilton, Steven M. Slutsky: w3288
Randomization in Optimal Income Tax Schedules
with Dagobert L. Brito, Jonathan H. Hamilton, Steven M. Slutsky: w3289
February 1990Toward a Theory of Rigidities
with Bruce C. Greenwald: w2938
The Informational Content of Initial Public Offerings
with Ian Gale: w3259
Dynamic Optimal Income Taxation with Government Commitment
with Dagobert L. Brito, Jonathan H. Hamilton, Steven M. Slutsky: w3265
January 1990Markets and Development
December 1989A Simple Proof That Futures Markets are Almost Always Informationally Inefficient
with Ian Gale: w3209
May 1989Incentives, Information, and Organizational Design
1989Money, Credit, and Business Fluctuations
September 1988Banks as Social Accountants and Screening Devices for the Allocation of Credit
with Andrew Weiss: w2710
July 1988Pareto Inefficiency of Market Economies: Search and Efficiency Wage Models
with Bruce Greenwald: w2651
Dysfunctional Non-Market Institutions and the Market
with Richard J. Arnott: w2666
May 1988Vertical Restraints and Producers' Competition
with Patrick Rey: w2601
February 1988Randomization with Asymmetric Information
with Richard J. Arnott: w2507
1988The Basic Analytics of Moral Hazard
with Richard J. Arnott: w2484
Financial Market Imperfections and Business Cycles
with Bruce C. Greenwald: w2494
December 1987Information and Multi-Period Optimal Income Taxation with Government Commitment
with Dagobert L. Brito, Jonathan H. Hamilton, Steven M. Slutsky: w2458
July 1987Implicit Contracts, Labor Mobility and Unemployment
with Richard J. Arnott, Arthur Hosios: w2316
March 1987Money, Imperfect Information and Economic Fluctuations
with Bruce Greenwald: w2188
Pareto Efficient and Optimal Taxation and the New New Welfare Economics
Privatization, Information and Incentives
with David E. M. Sappington: w2196
February 1987Keynesian, New Keynesian, and New Classical Economics
with Bruce C. Greenwald: w2160
1987Macro-Economic Equilibrium and Credit Rationing
with Andrew Weiss: w2164
Project Appraisal and Foreign Exchange Constraints: A Simple Exposition
with Charles R. Blitzer, Partha Dasgupta: w2165
December 1986The Pure Theory of Country Risk
with Jonathan Eaton, Mark Gersovitz: w1894
Imperfect Information, Credit Markets and Unemployment
with Bruce C. Greenwald: w2093
July 1986The Wage-Productivity Hypothesis: Its Economic Consequences and Policy Implications.
March 1986The General Theory of Tax Avoidance
1986The Invariance of R&D to the Number of Firms in the Industry
with Raaj Kumar Sah: w1798
February 1985Economics of Information and the Theory of Economic Development
September 1984Theories of Wage Rigidity
April 1984The Architecture of Economic Systems: Hierarchies and Polyarchies
with Raaj Kumar Sah: w1334
Informational Imperfections in the Capital Market and Macro-Economic Fluctuations
with Bruce C. Greenwald, Andrew Weiss: w1335
Equilibrium Wage Distributions
Taxation and Pricing of Agricultural and Industrial Goods
with Raaj Kumar Sah: w1338
March 1984Pecuniary & Market Mediated Externalities: Towards a General Theory of the Welfare Economics & Economies with Imperfect Information & Incomplete Mrkts
with Bruce C. Greenwald: w1304
November 1983The Social Cost of Labor, and Project Evaluation: A General Approach
with Raaj Kumar Sah: w1229
July 1983The Rate of Discount for Benefit-Cost Analysis and Theory of the Second Best
June 1983Moral Hazard and Optimal Commodity Taxation
with Richard J. Arnott: w1154
The Economics of Price Scissors
with Raaj Kumar Sah: w1156
April 1983On the Relevance or Irrelevance of Public Financial Policy: Indexation,Price Rigidities and Optimal Monetary Policy
March 1983Money, Credit Constraints, and Economic Activity
with Alan S. Blinder: w1084
Some Aspects of the Taxation of Capital Gains
1983On the Relevance or Irrelevance of Public Financial Policy
August 1982The Theory of Local Public Goods Twenty-Five Years After Tiebout: A Perspective
May 1982Stochastic Capital Theory I. Comparative Statics
with William A. Brock, Michael Rothschild: t0023
1982Pareto Optimality and Competition
November 1981Energy Resources and Research and Development
with Partha Dasgupta, Richard Gilbert: r0218
Public Goods in Open Economies with Heterogeneous Individuals
September 1981Equality, Taxation, and Inheritance
August 1981Potential Competition May Reduce Welfare
June 1981Utilitarianism and Horizontal Equity: The Case for Random Taxation
May 1981On Search and Equilibrium Price Distributions
Information and Capital Markets
April 1981Uncertainty, Industrial Structure, and the Speed of R&D
with Partha Dasgupta: r0156
February 1981Self-Selection and Pareto Efficient Taxation
December 1980On the Impossibility of Informationally Efficient Markets
with Sanford J. Grossman: r0121
Stockholder Unanimity in Making Production and Financial Decisions
with Sanford J. Grossman: r0122
Industrial Structure and the Nature of Innovative Activity
with Partha Dasgupta: r0124
November 1980Aggregate Land Rents, Expenditure on Public Goods, and Optimal City Size
with Richard J. Arnott: r0102
August 1980Intergenerational Transfers and Inequality
with D.L. Bevan: r0076
A Neoclassical Analysis of the Economics of Natural Resources
Some Further Remarks on Cost-Benefit Analysis
July 1980On the Almost Neutrality of Inflation: Notes on Taxation and the Welfare Costs of Inflation
Aggregate Land Rents and Aggregate Transport Costs
with Richard J. Arnott: w0523
1980The Taxation of Exhaustible Resources
with Partha Dasgupta, Geoffrey Heal: w0436
August 1979Towards A Reconstruction of Keynesian Economics: Expectations and Constrained Equilibria
with J. Peter Neary: w0376
October 1976Some Lessons from the New Public Finance
with Michael J. Boskin: w0151

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