CESifo Working Paper Series

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1791: Time Consistency and Bureaucratic Budget Competition

Sebastian Kessing and Kai Konrad

1790: Recent Regional Agreements: Why so many, why so much Variance in Form, why Coming so fast, and where are they Headed?

John Whalley

1789: Increasing Longevity and Social Security Reforms

Torben Andersen

1788: Panels with Nonstationary Multifactor Error Structures

George Kapetanios, Mohammad Pesaran and Takashi Yamagata

1787: Social Interactions and Schooling Decisions

Rafael Lalive and Alejandra Cattaneo

1786: Formal Contracts, Relational Contracts, and the Holdup Problem

Hideshi Itoh and Hodaka Morita

1785: Why have Corporate Tax Revenues Declined? Another Look

Alan Auerbach

1784: A Simple Explanation for the Unfavorable Tax Treatment of Investment Costs

Paolo Panteghini

1783: Has EMU had any Impact on the Degree of Wage Restraint?

Adam Posen and Daniel Popov Gould

1782: The Chopstick Auction: A Study of the Exposure Problem in Multi-Unit Auctions

Florian Englmaier, Pablo Guillen, Loreto Llorente, Sander Onderstal and Rupert Sausgruber

1781: Corporate and Personal Income Tax Declarations

Laszlo Goerke

1780: Growth, Longevity and Public Policy

Gregory Ponthiere

1779: Efficiency and Equity of European Education and Training Policies

Ludger Woessmann

1778: How Reasonable is the ‘Reasonable’ Royalty Rate? Damage Rules and Probabilistic Intellectual Property Rights

Jay Choi

1777: The Transitional Dynamics of Fiscal Policy in Small Open Economies

Ben Heijdra and Jenny Ligthart

1776: Two-Sided Markets with Pecuniary and Participation Externalities

Richard Schmidtke

1775: Living Standards in Black and White: Evidence from the Heights of Ohio Prison Inmates, 1829 – 1913

Scott A. Carson and Thomas Maloney

1774: The Measurement of Firm Ownership and its Effect on Managerial Pay

Jeremy Edwards, Wolfgang Eggert, Alfons J. Weichenrieder and Alfons Weichenrieder

1773: Corporate Taxation and Multinational Activity

Peter Egger, Simon Loretz, Michael Pfaffermayr and Hannes Winner

1772: Is there a Social Security Tax Wedge?

Alessandro Cigno

1771: Financial Liberalization in a Small Open Economy

Juergen von Hagen and Haiping Zhang

1770: Testing Dependence among Serially Correlated Multi-category Variables

Mohammad Pesaran and Allan Timmermann

1769: Geography Rules Too! Economic Development and the Geography of Institutions

Maarten Bosker and Harry Garretsen

1768: Individual Attitudes towards Immigrants: Welfare-State Determinants across Countries

Giovanni Facchini and Anna Maria Mayda

1767: EMU Enlargement, Policy Uncertainty and Economic Reforms

Carsten Hefeker

1766: Japanese Foreign Exchange Intervention and the Yen/Dollar Exchange Rate: A Simultaneous Equations Approach Using Realized Volatility

Eric Hillebrand, Gunther Schnabl and Yasemin Ulu

1765: How do Extended Benefits Affect Unemployment Duration? A Regression Discontinuity Approach

Rafael Lalive

1764: Fixed Transport Costs and International Trade

Didier Laussel and Raymond Riezman

1763: Business Groups in Emerging Markets – Financial Control and Sequential Investment

Christa Hainz

1762: Status-Seeking in Criminal Subcultures and the Double Dividend of Zero-Tolerance

Robert Dur

1761: Catching-up, Inflation Differentials and Credit Booms in a Heterogeneous Monetary Union: Some Implications for EMU and new EU Member States

Ronald MacDonald and Cezary Wójcik

1760: Steepest Ascent Tariff Reforms

Pascalis Raimondos and Alan Woodland

1759: Intergenerational Risk Sharing by Means of Pay-as-you-go Programs – an Investigation of Alternative Mechanisms

Øystein Thøgersen

1758: Tax Avoidance, Endogenous Social Norms, and the Comparison Income Effect

Alessandro Balestrino

1757: Intentions and Social Interactions

J. Atsu Amegashie

1756: Private Provision of a Complementary Public Good

Richard Schmidtke

1755: The Impact of Globalization on the Composition of Government Expenditures: Evidence from Panel Data

Axel Dreher, Jan-Egbert Sturm and Heinrich Ursprung

1754: Ex-Post Redistribution in a Federation: Implications for Corrective Policy

Marko Köthenbürger

1753: A Collective Household Model of Time Allocation - a Comparison of Native Dutch and Immigrant Households in the Netherlands

Chris Klaveren, Bernard van Praag and Henriette Maassen van den Brink

1752: Labor Courts, Nomination Bias, and Unemployment in Germany

Helge Berger and Michael Neugart

1751: Mixing Bismarck and Child Pension Systems: An Optimum Taxation Approach

Robert Fenge and Jakob von Weizsäcker

1750: Agglomeration and Aid

Steven Brakman, Harry Garretsen, Charles van Marrewijk and Charles van Marrewijk

1749: Workfare, Monitoring, and Efficiency Wages

Christian Holzner, Volker Meier and Martin Werding

1748: Natural Volatility, Welfare and Taxation

Olaf Posch and Klaus Wälde

1747: Forecasting and Combining Competing Models of Exchange Rate Determination

Carlo Altavilla and Paul De Grauwe

1746: Labor Standards and Economic Integration in the European Union: An Empirical Analysis

Vivek Dehejia and Yiagadeesen Samy

1745: Multi-Dimensional Transitional Dynamics: A Simple Numberical Procedure

Timo Trimborn, Karl-Josef Koch and Thomas Steger

1744: Identifying Monetary Policy Shocks via Changes in Volatility

Markku Lanne and Helmut Lütkepohl

1743: Evidence and Implications of Zipf’s Law for Integrated Economies

Harry Bowen, Haris Munandar and Jean-Marie Viaene

1742: The Elasticity of Derived Demand, Factor Substitution and Product Demand: Corrections to Hicks’ Formula and Marshall’s Four Rules

Bob Chirinko and Debdulal Mallick

1741: Subsidies for Wages and Infrastructure: How to Restrain Undesired Immigration

Robert Fenge and Volker Meier

1740: Ageing and Growth in the Small Open Economy

Ben Heijdra and Ward Romp

1739: Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable

Balázs Égert and Ronald MacDonald

1738: Supply Constraints and Housing Prices

Saku Aura and Thomas Davidoff

1737: Cycles and Indeterminacy in Overlapping Generations Economies with Stone-Geary Preferences

Erkki Koskela and Mikko Puhakka

1736: Tax Evasion and Self-Employment in a High-Tax Country: Evidence from Sweden

Per Engström and Bertil Holmlund

1735: Reevaluating the Role of Trade Agreements: Does Investment Globalization Make the WTO Obsolete?

Emily Blanchard

1734: Modelling Structural Breaks in the US, UK and Japanese Unemployment Rates

Guglielmo Maria Caporale and Luis Gil-Alana

1733: Government Outsourcing: Public Contracting with Private Monopoly

Emmanuelle Auriol and Pierre Picard

1732: Fool the Markets? Creative Accounting, Fiscal Transparency and Sovereign Risk Premia

Kerstin Bernoth and Guntram Wolff

1731: Airline Schedule Competition: Product-Quality Choice in a Duopoly Model

Jan Brueckner and Ricardo Flores-Fillol

1730: Reputations, Relationships and the Enforcement of Incomplete Contracts

W. Bentley Macleod

1729: Growth and Enduring Epidemic Diseases

Clive Bell and Hans Gersbach

1728: A Century of Shocks: The Evolution of the German City Size Distribution 1925 – 1999

Maarten Bosker, Steven Brakman, Harry Garretsen and Marc Schramm

1727: Selling Favors in the Lab: Experiments on Campaign Finance Reform

Daniel Houser and Thomas Stratmann

1726: Assessing Horizontal Mergers under Uncertain Efficiency Gains

Philippe Choné and Laurent Linnemer

1725: Prospects of Regional Cooperation in Trade, Investment and Finance in Asia: An Empirical Analysis on BIMSTEC Countries and Japan

Swapan K. Bhattacharya and Biswanath Bhattacharyay

1724: Do IMF and World Bank Influence Voting in the UN General Assembly?

Axel Dreher and Jan-Egbert Sturm

1723: Bequests, Taxation and the Distribution of Wealth in a General Equilibrium Model

Christian Kleiber, Martin Sexauer and Klaus Wälde

1722: Corporate Tax Reform and Foreign Direct Investment in Germany – Evidence from Firm-Level Data

Johannes Becker, Clemens Fuest and Thomas Hemmelgarn

1721: The Capital Structure of Multinational Companies under Tax Competition

Paolo Panteghini

1720: China’s Exchange Rate and International Adjustment in Wages, Prices, and Interest Rates: Japan Déjà Vu?

Ronald McKinnon and Gunther Schnabl

1719: Interjurisdictional Competition for Higher Education and Firms

Marcel Gerard and Fernando Ruiz

1718: Tobacco Taxation in the European Union

Sijbren Cnossen

1717: Learning to Forecast the Exchange Rate: Two Competing Approaches

Paul De Grauwe and Agnieszka Markiewicz

1716: Empirical Estimation Results of a Collective Household Time Allocation Model

Chris Klaveren, Bernard van Praag and Henriette Maassen van den Brink

1715: Choosing Intellectual Protection: Imitation, Patent Strength and Licensing

David Encaoua and Yassine Lefouili

1714: Construction Contracts (or “How to Get the Right Building at the Right Price?”)

Surajeet Chakravarty and W. Bentley Macleod

1713: Margins of Multinational Labor Substitution

Marc-Andreas Muendler, Sascha Becker and Sascha O. Becker

1712: Proprietary Income, Entrepreneurial Risk, and the Predictability of U.S. Stock Returns

Mathias Hoffmann

1711: Wage Bargaining and Multinational Firms in General Equilibrium

Carsten Eckel and Hartmut Egger

1710: Global Financial Transmission of Monetary Policy Shocks

Michael Ehrmann and Marcel Fratzscher

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