This note provides quality-adjusted price indexes and nominal shipments data for highly disaggregate classes of semiconductor devices. These data may be used to construct indexes under different assumptions from those used in indexes that are currently available. Because the construction of...

In this paper, we examine the stock price benefit of meeting or beating earnings expectations. Using a general methodology, we find no evidence that the timing of earnings news has any benefit for firms' stock returns. In fact, in many cases we find firms attempting to engineer positive earnings...

Utilizing a comprehensive database of transactions in municipal bonds, we investigate the volume-volatility relationship in the muni market. We find a positive relationship between the number of transactions and a bond's price volatility. In contrast to previous studies, we find a negative...

By any measure, price deflators for semiconductors fell at a staggering pace over much of the last decade. These rapid declines are typically attributed to technological innovations that lower constant-quality manufacturing costs. But, given Intel's dominance in the microprocessor market, those...

Sharp declines in semiconductor prices are largely responsible for observed declines in computer prices. Although communications equipment also has a large semiconductor content, communications equipment prices do not fall nearly as fast as computer prices. This paper partly resolves the...