CESifo Working Paper Series

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1491: Interregional Redistribution and Budget Institutions under Asymmetric Information

Bernd Huber and Marco Runkel

1490: Student Flows and Migration: An Empirical Analysis

Axel Dreher and Panu Poutvaara

1489: Does Germany Collect Revenue from Taxing Capital Income?

Johannes Becker and Clemens Fuest

1488: Bid Rigging – An Analysis of Corruption in Auctions

Yvan Lengwiler and Elmar Wolfstetter

1487: Virtual Capacity and Competition

Christian Schultz

1486: Fiscal Policy in New EU Member States – Go East, Prudent Man!

Ondrej Schneider and Jan Zapal

1485: Uncertainty, Wage Setting and Decision Making in a Monetary Union

Carsten Hefeker

1484: A Simple Model of Brain Circulation

Nicolas Schmitt and Antoine Soubeyran

1483: On the Long-Run Evolution of Technological Knowledge

Hendrik Hakenes and Andreas Irmen

1482: Tradable Emission Permits in a Federal System

Harrie A. A Verbon and Cees Withagen

1481: Trade and Development in a Labor Surplus Economy

Edward Barbier and Michael Rauscher

1480: Pitfalls in the Use of Ad valorem Equivalent Representations of the Trade Impacts of Domestic Policies

John Whalley

1479: Globalization, Cross-Border Pollution and Welfare

Panos Hatzipanayotou, Sajal Lahiri and Michael Michael

1478: Effects of Corporate Tax Reforms on SMEs’ Investment Decisions under the Particular Consideration of Inflation

Chang Woon Nam, Doina Radulescu and Doina Maria Radulescu

1477: What if the UK had Joined the Euro in 1999? An Empirical Evaluation Using a Global VAR

Mohammad Pesaran, L. Vanessa Smith and Ron P. Smith

1476: The Start-Up and Growth Stages in Enterprise Formation: The “New View” of Dividend Taxation Reconsidered

Vesa Kanniainen, Seppo Kari and Jouko Ylä-Liedenpohja

1475: Trade and the Distribution of Human Capital

Spiros Bougheas and Raymond Riezman

1474: Electricity Transmission Pricing and Performance-Based Regulation

Ingo Vogelsang

1473: Silent Interests and All-Pay Auctions

Kai Konrad

1472: Contract Adjustment under Uncertainty

Helge Holden, Lars Holden and Steinar Holden

1471: A Trade Model with an Optimal Exchange Rate Motivated by Current Discussion of a Chinese Renminbi Float

Hui Huang, Yi Wang, Yiming Wang, John Whalley and Shunming Zhang

1470: The Poverty of Growth with Interdependent Utility Functions

John Komlos and Peter Salamon

1469: The Influence of Student Achievement on Teacher Turnover

Torberg Falch and Marte Rønning

1468: Knight Fever – Towards an Economics of Awards

Bruno Frey

1467: Fairness and the Optimal Allocation of Ownership Rights

Ernst Fehr, Susanne Kremhelmer and Klaus Schmidt

1466: Pawns and Queens Revisited: Public Provision of Private Goods when Individuals make Mistakes

Jukka Pirttilä and Sanna Tenhunen

1465: Heterogeneity within Communities: A Stochastic Model with Tenure Choice

Francois Ortalo-Magne and Sven Rady

1464: Optimal Rent Extraction in Pre-Industrial England and France – Default Risk and Monitoring Costs

Mikael Priks

1463: Trade Liberalization in a Joint Spatial Inter-Temporal Trade Model

Hui Huang, John Whalley and Shunming Zhang

1462: Putting Risk in its Proper Place

Louis Eeckhoudt and Harris Schlesinger

1461: Merger without Cost Advantages

Steffen Huck, Kai Konrad and Wieland Müller

1460: Do Benefit Hikes Damage Job Finding? Evidence from Swedish Unemployment Insurance Reforms

Helge Bennmarker, Kenneth Carling and Bertil Holmlund

1459: The Effects of Disclosure Regulation of an Innovative Firm

Jos Jansen

1458: Why Forcing People to Save for Retirement may Backfire

Monika Bütler, Olivia Huguenin and Federica Teppa

1457: Inequality and Relative Reliance on Tariffs: Theory and Evidence

Margarita Katsimi and Thomas Moutos

1456: Cross-Country Relative Price Volatility: Effects of Market Structure

Yin-Wong Cheung and Eiji Fujii

1455: Skilled Emigration, Business Networks and Foreign Direct Investment

Maurice Kugler and Hillel Rapoport

1454: To Draft or not to Draft? Efficiency, Generational Incidence, and Political Economy of Military Conscription

Panu Poutvaara and Andreas Wagener

1453: Regional Grants as Pork Barrel Politics

Kevin Milligan and Michael Smart

1452: Capital Quality Improvement and the Sources of Growth in the Euro Area

Plutarchos Sakellaris and Focco W. Vijselaar

1451: Systemic Crises and Growth

Romain Ranciere, Aaron Tornell and Frank Westermann

1450: Metrics Capturing the Degree to which Individual Economies are Globalized

Raymond Riezman, John Whalley and Shunming Zhang

1449: The Transition Economies: A NATREX Evaluation of Research

Jerome Stein

1448: Bargaining Power and Equilibrium Consumption

Hans Gersbach and Hans Haller

1447: Is there a Role for an Active Fiscal Stabilization Policy?

Torben Andersen

1446: The Sustainability of Fiscal Policy in the United States

Henning Bohn

1445: Rationality, Irrationality and Economic Cognition

John Whalley

1444: The Pygmalion Effect: An Agency Model with Reference Dependent Preferences

Kohei Daido and Hideshi Itoh

1443: Consumption, Wealth and Business Cycles in Germany

Britta Hamburg, Mathias Hoffmann and Joachim Keller

1442: Charging NO x Emitters for Health Damages: An Exploratory Analysis

Denise L. Mauzerall, Babar Sultan, Namsoug Kim and David Bradford

1441: Globalization and Values

John Whalley

1440: A Case for Taxing Education

Tomer Blumkin and Efraim Sadka

1439: Industry Concentration and Strategic Trade Policy in Successive Oligopoly

Gjermund Nese and Odd Rune Straume

1438: Testing Slope Homogeneity in Large Panels

Mohammad Pesaran and Takashi Yamagata

1437: Intra-Generational Externalities and Inter-Generational Transfers

Martin Kolmar and Volker Meier

1436: Rational Information Choice in Financial Market Equilibrium

Marc-Andreas Muendler

1435: Zooming Out: The Trade Effect of the Euro in Historical Perspective

Helge Berger and Volker Nitsch

1434: An Interview with Thomas J. Sargent

George Evans and Seppo Honkapohja

1433: Should Green Governments Give Priority to Environmental Policies over Growth-Enhancing Policies?

George Economides and Apostolis Philippopoulos

1432: Knowledge-Capital Meets New Economic Geography

Peter Egger, Stefan Gruber, Mario Larch and Michael Pfaffermayr

1431: Fundamental and Non-Fundamental Equilibria in the Foreign Exchange Market. A Behavioural Finance Framework

Paul de Grauwe, Roberto Dieci, Marianna Grimaldi and Paul De Grauwe

1430: Ethnic Enclaves and Welfare Cultures – Quasi-Experimental Evidence

Olof Åslund and Peter Fredriksson

1429: Optimal Redistributive Taxation when Government’s and Agents’ Preferences Differ

Sören Blomquist and Luca Micheletto

1428: Asymmetries in the Trans-Atlantic Monetary Policy Relationship: Does the ECB follow the Fed?

Ansgar Belke and Daniel Gros

1427: The Role of Government in Anti-Social Redistributive Activities

Konstantinos Angelopoulos and Apostolis Philippopoulos

1426: Legislative Malapportionment and the Politicization of Germany’s Intergovernmental Transfer System

Hans Pitlik, Friedrich Schneider and Harald Strotmann

1425: Exploring the International Linkages of the Euro Area: a Global VAR Analysis

Stephane Dees, Filippo di Mauro, Mohammad Pesaran and L. Vanessa Smith

1424: Back to Keynes?

Frederick (Rick) van der Ploeg

1423: Excludable and Non-Excludable Public Inputs: Consequences for Economic Growth

Ingrid Ott and Stephen J Turnovsky

1422: Marriage and the City

Pieter Gautier, Michael Svarer and C. N. Teulings

1421: When the Union Hurts the Workers: A Positive Analysis of Immigration Policy

Giorgio Bellettini and Carlotta Berti Ceroni

1420: Relative Performance Evaluation in a Multi-Plant Firm

Annalisa Luporini

1419: Why so Unhappy? The Effects of Unionisation on Job Satisfaction

Alex Bryson, Lorenzo Cappellari and Claudio Lucifora

1418: Educational Standards in Private and Public Schools

Giorgio Brunello and Lorenzo Rocco

1417: A Structural Model of Demand for Apprentices

Samuel Muehlemann, Jürg Schweri, Rainer Winkelmann and Stefan Wolter

1416: Alternative Approaches to Estimation and Inference in Large Multifactor Panels: Small Sample Results with an Application to Modelling of Asset Returns

George Kapetanios and Mohammad Pesaran

1415: Does Educational Tracking Affect Performance and Inequality? Differences-in-Differences Evidence across Countries

Eric Hanushek and Ludger Woessmann

1414: The Economics of Books

Marcel Canoy, Jan C. van Ours, Frederick (Rick) van der Ploeg and Jan C. van Ours

1413: Lobbying and Compromise

Gil Epstein and Shmuel Nitzan

1412: Valuation of International Oil Companies –The RoACE Era

Petter Osmundsen, Frank Asche, Bård Misund and Klaus Mohn

1411: Has the Stability and Growth Pact Stabilised? Evidence from a Panel of 12 European Countries and Some Implications for the Reform of the Pact

Carlos Marinheiro

1410: The Weak Rationality Principle in Economics

Gebhard Kirchgässner

1409: Some Aspects of the Economics of Catastrophe Risk Insurance

Christian Gollier

1408: Interview with Assar Lindbeck

Thorvaldur Gylfason

1407: Supplier Discretion over Provision: Theory and an Application to Medical Care

James Malcomson

1406: Policy Mix and Debt Sustainability: Evidence from Fiscal Policy Rules

Peter Claeys

1405: Personal Security Accounts and Mandatory Annuitization in a Dynastic Framework

Luisa Fuster, Ayse Imrohoroglu and Selahattin Imrohoroglu

1404: The Incentive Effect of Fiscal Equalization Transfers on Tax Policy

Thiess Büttner

1403: Ageing, Funded Pensions and the Dutch Economy

Lans Bovenberg and Thijs Knaap

1402: Media Capture in a Democracy: The Role of Wealth Concentration

Giacomo Corneo

1401: Is It All Oil?

Frank Asche, Petter Osmundsen and Maria Sandsmark

1400: The Effect of Monetary Unification on Public Debt and its Real Return

Roel Beetsma and Koen Vermeylen

1399: Sustainability of Portuguese Fiscal Policy in Historical Perspective

Carlos Marinheiro

1398: Free Choice of Unfunded Systems: A First Assessment

Gabrielle Demange

1397: Why are More Redistributive Social Security Systems Smaller? A Median Voter Approach

Marko Köthenbürger, Panu Poutvaara and Paola Profeta

1396: (Why) Are Economists Different?

Gebhard Kirchgässner

1395: Innovation Strategies in a Competitive Dynamic Setting

Ruslan Lukach, Joseph Plasmans and Peter Kort

1394: Optimal Portfolio Management for Individual Pension Plans

Christian Gollier

1393: Optimal Response to a Demographic Shock

Juan Carlos Conesa and Carlos Garriga

1392: The Private and Fiscal Returns to Schooling and the Effect of Public Policies on Private Incentives to Invest in Education: A General Framework and Some Results for the EU

Angel de La Fuente and Juan F Jimeno