CESifo Working Paper Series

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1709: The Employment Effects of Labor and Product Markets Deregulation and their Implications for Structural Reform

Helge Berger and Stephan Danninger

1708: The Pathological Export Boom and the Bazaar Effect - How to Solve the German Puzzle

Hans-Werner Sinn

1707: Marginal Employment Subsidization: A New Concept and a Reappraisal

Andreas Knabe, Ronnie Schöb and Joachim Weimann

1706: What’s the Monetary Value of Distributive Justice?

Giacomo Corneo and Christina M. Fong

1705: Social Security and Risk Sharing

Piero Gottardi and Felix Kubler

1704: Pairwise Tests of Purchasing Power Parity Using Aggregate and Disaggregate Price Measures

Mohammad Pesaran, Ronald Smith, Takashi Yamagata and Liudmyla Hvozdyk

1703: Afriat’s Theorem for General Budget Sets

Francoise Forges and Enrico Minelli

1702: Company Tax Reform in Europe and its Effect on Collusive Behavior

Dirk Schindler and Guttorm Schjelderup

1701: Rethinking the Concept of Long-Run Economic Growth

Christian Groth, Karl-Josef Koch and Thomas Steger

1700: Major Provisions of Labour Contracts and their Theoretical Coherence

Louis Christofides and Amy (Chen) Peng

1699: Economic, Demographic and Political Determinants of Pollution Reassessed: A Sensitivity Analysis

Martin Gassebner, Michael Lamla and Jan-Egbert Sturm

1698: On the Size of the Winning Set in the Presence of Interest Groups

Vjollca Sadiraj, Jan Tuinstra and Frans van Winden

1697: Optimal Central Bank Design: Benchmarks for the ECB

Helge Berger

1696: African-American and White Living Standards in the 19th Century American South: A Biological Comparison

Scott A. Carson

1695: An Empirical Model of Daily Highs and Lows

Yin-Wong Cheung

1694: The New Keynesian Phillips Curve and the Role of Expectations: Evidence from the Ifo World Economic Survey

Steffen Henzel and Timo Wollmershäuser

1693: Meta-Analysis of the Business Cycle Correlation between the Euro Area and the CEECs

Jarko Fidrmuc and Iikka Korhonen

1692: Business Cycle Dynamics of a New Keynesian Overlapping Generations Model with Progressive Income Taxation

Burkhard Heer and Alfred Maussner

1691: Does Financial Integration Spur Economic Growth? New Evidence from the First Era of Financial Globalization

Moritz Schularick and Thomas Steger

1690: Optimal Taxation and Social Insurance in a Lifetime Perspective

Lans Bovenberg and Peter Birch Sørensen

1689: Sustainability of Swiss Fiscal Policy

Gebhard Kirchgässner and Silke Prohl

1688: Tenure Profiles and Efficient Separation in a Stochastic Productivity Model

Ioan Sebastian Buhai and C. N. Teulings

1687: Job Security and Work Absence: Evidence from a Natural Experiment

Assar Lindbeck, Mårten Palme and Mats Persson

1686: The Ex Ante Incentive Compatible Core in Exchange Economies with and without Indivisibilities

Francoise Forges

1685: Negative Reciprocity and the Interaction of Emotions and Fairness Norms

Ernesto Reuben and Frans van Winden

1684: “Itô’s Lemma“ and the Bellman Equation for Poisson Processes: An Applied View

Ken Sennewald and Klaus Wälde

1683: Risk Selection in Natural Disaster Insurance – the Case of France

Mario Jametti and Thomas von Ungern-Sternberg

1682: The Role of Fiscal Policy in a Monetary Union: Are National Automatic Stabilizers Effective?

Andrea Colciago, Vito Muscatelli, Tiziano Ropele and Patrizio Tirelli

1681: Persistence of Innovation in Dutch Manufacturing: Is it Spurious?

Wladimir Raymond, Pierre Mohnen, Franz Palm and Sybrand Schim van der Loeff

1680: Probabilistic Aging

Dominik Grafenhofer, Christian Jaag, Christian Keuschnigg and Mirela Keuschnigg

1679: Public versus Private Health Care in a National Health Service

Kurt Brekke and Lars Sørgard

1678: Globalisation and the Mix of Wage and Profit Taxes

Andreas Haufler, Alexander Klemm and Guttorm Schjelderup

1677: Measurement Error in Education and Growth Regressions

Miguel Portela, Rob Alessie and C. N. Teulings

1676: Asset Ownership and Foreign-Market Entry

Horst Raff, Michael Ryan and Frank Stähler

1675: A Model of Income Insurance and Social Norms

Assar Lindbeck and Mats Persson

1674: Reciprocity and Emotions when Reciprocators Know each other

Ernesto Reuben and Frans van Winden

1673: Evaluation of Researchers: A Life Cycle Analysis of German Academic Economists

Michael Rauber and Heinrich Ursprung

1672: Democracy and Development: The Devil in the Details

Torsten Persson and Guido Tabellini

1671: Something out of Nothing? Neoclassical Growth and the ‘Trivial’ Steady State

Hendrik Hakenes and Andreas Irmen

1670: Information, Coordination, and the Industrialization of Countries

Florian Englmaier and Markus Reisinger

1669: Long Persuasion Games

Francoise Forges and Frederic Koessler

1668: Voice and Bargaining Power

Hans Gersbach and Hans Haller

1667: Inflation Expectations and Inflation Uncertainty in the Eurozone: Evidence from Survey Data

Ivo Arnold and Jan Lemmen

1666: Bureaucratic Corruption and Profit Tax Evasion

Laszlo Goerke

1665: Regional Effects on Employer Provided Training: Evidence from Apprenticeship Training in Switzerland

Samuel Muehlemann and Stefan Wolter

1664: Optimal Policy Towards Families with Different Amounts of Social Capital, in the Presence of Asymmetric Information and Stochastic Fertility

Alessandro Cigno and Annalisa Luporini

1663: Political Parties and Network Formation

Topi Miettinen and Panu Poutvaara

1662: Public-Private Partnership and Schooling Outcomes across Countries

Ludger Woessmann

1661: Fiscal Policy, Monopolistic Competition, and Finite Lives

Ben Heijdra and Jenny Ligthart

1660: Satisfaction with Democracy and the Environment in Western Europe – a Panel Analysis

Alexander Wagner and Friedrich Schneider

1659: Macroeconometric Modelling with a Global Perspective

Mohammad Pesaran and Ronald Smith

1658: Outsourcing in Contests

Frode Meland and Odd Rune Straume

1657: Cross-Racial Envy and Underinvestment in South Africa

Daniel Haile, Abdolkarim Sadrieh and Harrie A. A Verbon

1656: Efficient Revenue Sharing and Upper Level Governments: Theory and Application to Germany

Thiess Büttner, Sebastian Hauptmeier and Robert Schwager

1655: What are their Words Worth? Political Plans and Economic Pains of Fiscal Consolidations in New EU Member States

Jan Zapal and Ondrej Schneider

1654: A Model of Strategic Delegation in Contests between Groups

Stefan Brandauer and Florian Englmaier

1653: Corruption and the Shadow Economy: An Empirical Analysis

Axel Dreher and Friedrich Schneider

1652: Does Money Matter in the ECB Strategy? New Evidence Based on ECB Communication

Helge Berger and Jan-Egbert Sturm

1651: Structural Vector Autoregressions with Nonnormal Residuals

Markku Lanne and Helmut Lütkepohl

1650: Learning, Structural Instability and Present Value Calculations

Mohammad Pesaran, Davide Pettenuzzo and Allan Timmermann

1649: Real and Nominal Wage Adjustment in Open Economies

Anders Forslund, Nils Gottfries and Andreas Westermark

1648: On Human Capital Formation with Exit Options: Comment and New Results

Panu Poutvaara

1647: Extracting Leading Indicators of Bank Fragility from Market Prices – Estonia Focus

Yu-Fu Chen, Michael Funke and Kadri Männasoo

1646: Political Competition and Convergence to Fundamentals: With Application to the Political Business Cycle and the Size of Government

J. Stephen Ferris, Soo-Bin Park and Stanley Winer

1645: The Savings-Inflation Puzzle

Burkhard Heer and Bernd Süssmuth

1644: Rent-Seeking Competition from State Coffers: A Calibrated DSGE Model of the Euro Area

Konstantinos Angelopoulos, Apostolis Philippopoulos and Vanghelis Vassilatos

1643: The Structure of Worker Compensation in Brazil, with a Comparison to France and the United States

Naercio Menezes-Filho, Marc-Andreas Muendler and Garey Ramey

1642: Optimum Taxation of Life Annuities

Johann Brunner and Susanne Pech

1641: Top Incomes and Top Taxes in Germany

Stefan Bach, Giacomo Corneo and Viktor Steiner

1640: A Reappraisal of the Border Effect on Relative Price Volatility

Yin-Wong Cheung and Kon S. Lai

1639: Violent Groups and Police Tactics: Should Tear Gas Make Crime Preventers Cry?

Panu Poutvaara and Mikael Priks

1638: Optimal Stabilization Policy with Flexible Prices

Aleksander Berentsen and Christopher Waller

1637: Artificial Time Inconsistency as a Remedy for the Race to the Bottom (new title: Delayed Integration as a Possible Remedy for the Race to the Bottom)

Alfons J. Weichenrieder, Oliver Busch and Alfons Weichenrieder

1636: Explaining Conflict in Low-Income Countries: Incomplete Contracting in the Shadow of the Future

Michael McBride and Stergios Skaperdas

1635: Do Consumers Buy Less of a Taxed Good?

Hans Jarle Kind, Marko Köthenbürger and Guttorm Schjelderup

1634: Health Values, Preference Inconsistency, and Insurance Demand

Matthias Wrede

1633: What Explains the Variation in Estimates of Labour Supply Elasticities?

Michiel Evers, Ruud de Mooij and Daniel van Vuuren

1632: The Political Economy of Intergenerational Cooperation

Alessandro Cigno

1631: The Evolution of Public Spending on Higher Education in a Democracy

Alexander Haupt

1630: International Capital Market Integration, Educational Choice and Economic Growth

Hartmut Egger, Peter Egger, Josef Falkinger and Volker Grossmann

1629: Wage Bargaining and Political Strength in the Public Sector

Torberg Falch and Bjarne Strøm

1628: Do Institutions of Direct Democracy Tame the Leviathan? Swiss Evidence on the Structure of Expenditure for Public Education

Justina A. V. Fischer

1627: Income Taxation, Tuition Subsidies, and Choice of Occupation: Implications for Production Efficiency

Geir Haakon Bjertnæs

1626: To go or not to go: Emigration from Germany

Silke Uebelmesser

1625: Tax Competition when Firms Choose their Organizational Form: Should Tax Loopholes for Multinationals be Closed?

Sam Bucovetsky and Andreas Haufler

1624: Efficiency Potential and Efficiency Variation in Norwegian Lower Secondary Schools

Lars-Erik Borge and Linn Renée Naper

1623: Nordic Dual Income Taxation of Entrepreneurs

Vesa Kanniainen, Seppo Kari and Jouko Ylä-Liedenpohja

1622: Tax Effects, Search Unemployment, and the Choice of Educational Type

Annette Alstadsæter, Ann-Sofie Kolm and Birthe Larsen

1621: On the Research Value of Large Games: Natural Experiments in Norrath and Camelot

Edward Castronova

1620: Concerns for Equity and the Optimal Co-Payments for Publicly Provided Health Care

Michael Hoel

1619: Severance Pay and the Shadow of the Law: Evidence for West Germany

Laszlo Goerke and Markus Pannenberg

1618: Savers, Spenders and Fiscal Policy in a Small Open Economy

Egil Matsen, Tommy Sveen and Ragnar Torvik

1617: Money, Credit and Banking

Aleksander Berentsen, Gabriele Camera and Christopher Waller

1616: Is Human Capital Losing from Outsourcing? Evidence for Austria and Poland

Andzelika Lorentowicz, Dalia Marin and Alexander Raubold

1615: New Evidence on Fiscal Decentralization and the Size of Government

Jon Fiva

1614: Visas and Work Permits: Possible Global Negotiating Initiatives

Chi-Yung Ng and John Whalley

1613: The Three Parties in the Race to the Bottom: Host Governments, Home Governments and Multinational Companies

Rosanne Altshuler and Harry Grubert

1612: Taxation and the Financial Structure of German Outbound FDI

Jack Mintz, Alfons J. Weichenrieder and Alfons Weichenrieder

1611: The Pluralism of Fairness Ideals: An Experimental Approach

Alexander Cappelen, Astri D. Hole, Erik Sørensen and Bertil Tungodden

1610: Should you Take a Lump-Sum or Annuitize? Results from Swiss Pension Funds

Monika Buetler and Federica Teppa