User profiles for James Poterba

james poterba

Mitsui Professor of Economics, MIT
Verified email at mit.edu
Cited by 58003

Mean reversion in stock prices: Evidence and implications

JM Poterba, LH Summers - Journal of financial economics, 1988 - Elsevier
This paper investigates transitory components in stock prices. After showing that statistical
tests have little power to detect persistent deviations between market prices and fundamental …

[BOOK][B] What moves stock prices?

DM Cutler, JM Poterba, LH Summers - 1988 - degruyter.com
… CUTLER is a graduate student and JAMES M. POTERBA is Professor of Economics at
MIT in Cambridge (MA 02139). LAWRENCE H. SUMMERS is Nathaniel Ropes Professor of …

Retail price reactions to changes in state and local sales taxes

JM Poterba - National Tax Journal, 1996 - journals.uchicago.edu
This paper tests the hypothesis that state and local retail sales taxes are fully shifted to
consumers. The empirical analysis focuses on city-specific clothing price indices for eight cities …

Investor diversification and international equity markets

KR French, J Poterba - 1991 - nber.org
The benefits of international diversification have been recognized for decades. In spite of this,
most investors hold nearly all of their wealth in domestic assets. In this paper, we construct …

Demographic change, intergenerational linkages, and public education

JM Poterba - The American Economic Review, 1998 - JSTOR
The prospective changes in population age structure that have stimulated discussion of the
economic viability of transfer programs that benefit the elderly, such as Social Security and …

State responses to fiscal crises: The effects of budgetary institutions and politics

JM Poterba - Journal of political Economy, 1994 - journals.uchicago.edu
This paper explores the dynamics of state taxes and spending during the late 1980s, when
regional economic downturns and increased expenditure demands led to substantial state …

Tax subsidies to owner-occupied housing: an asset-market approach

JM Poterba - The quarterly journal of economics, 1984 - academic.oup.com
Inflation reduces the effective cost of homeownership and raises the tax subsidy to owner
occupation. This paper presents an asset-market model of the housing market and estimates …

New evidence on the money's worth of individual annuities

OS Mitchell, JM Poterba, MJ Warshawsky… - American economic …, 1999 - pubs.aeaweb.org
[I] f you observe, people always live forever when there is any annuity to be paid them... An
annuity is a very serious business; it comes over and over every year, and there is no getting …

The persistence of volatility and stock market fluctuations

JM Poterba, LH Summers - 1984 - nber.org
This paper examines the potential influence of changing volatility in stock market prices on
the level of stock market prices. It demonstrates that volatility is only weakly serially correlated…

Demographic structure and the political economy of public education

JM Poterba - Journal of Policy Analysis and Management: The …, 1997 - Wiley Online Library
This article examines the relationship between demographic structure and the level of
government spending on K‐12 education. Panel data for the states of the United States over the …