CESifo Working Paper Series

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452: Optimal Private and Public Harvesting under Spatial and Temporal Interdependence

Markku Ollikainen and Erkki Koskela

451: Testing for Common Cyclical Features in Var Models with Cointegration

Alain Hecq, Franz Palm and Jean-Pierre Urbain

450: Mobility and the Role of Education as a Commitment Device

Claudio Thum and Silke Uebelmesser

449: Financial Fragility, Bubbles and Monetary Policy

Gerhard Illing

448: An Alternative Conditional Asymmetry Specification for Stock Returns

Kurt Brännäs and Niklas Nordman

447: Municipal Finance in Poland, the Slovak Republic, the Czech Republic and Hungary: Institutional Framework and Recent Development

Chang Woon Nam and Rüdiger Parsche

446: Trade and Industrial Policy of Transition Economies

José Luis Moraga Gonzales and Jean-Marie Viaene

445: Fairness, Incentives and Contractual Incompleteness

Ernst Fehr, Alexander Klein and Klaus Schmidt

444: Life Insurance, Precautionary Saving and Contingent Bequest

Fwu-Ranq Chang

443: Changes in Risk and Asset Prices

Harris Schlesinger and Christian Gollier

442: PPP and the Balassa Samuelson Effect: the Role of the Distribution Sector

Ronald MacDonald and Luca Ricci

441: Risk, Return and Portfolio Allocation under Alternative Pension Arrangements with Imperfect Financial Markets

David Miles and Aleš Černý

440: Local Business Taxation and Competition for Capital: The Choice of the Tax Rate

Thiess Büttner

439: Start-Up Investment with Scarce Venture Capital Support

Vesa Kanniainen and Christian Keuschnigg

438: Social Security Incentives and Human Capital Investment

Morten Lau and Panu Poutvaara

437: Monetary and Fiscal Policy Interaction in the EMU: A Dynamic Game Approach

Bas van Aarle, Jacob Engwerda, Joseph Plasmans and Bas Van Aarle

436: Imperfect Exchange Rate Passthrough: Strategic Pricing and Menu Costs

Atish Ghosh and Holger Wolf

435: Profitable Horizontal Mergers without Cost Advantages: The Role of Internal Organization, Information, and Market Structure

Steffen Huck, Kai Konrad and Wieland Müller

434: Europe`s new border taxes

Sijbren Cnossen and Erns Verwaal

433: Capital Controls and Exchange Rate Regimes: An Empirical Investigation

Helge Berger, Jan-Egbert Sturm, Jakob de Haan and Jakob de Haan

432: Setting Incentives: Temporary Performance Premiums Versus Promotion Tournaments

Volker Meier

431: Measurement of Value Added Tax Evasion in Selected EU Countries on the Basis of National Accounts Data

Chang Woon Nam, Rüdiger Parsche and Barbara Schaden

430: Measuring Knowledge Spillovers Using Belgian EPO and USPTO Patent Data

Joseph Plasmans and Ruslan Lukatch

429: Monetary Regimes and the Co-Ordination of Wage Setting

Steinar Holden

428: The Law of One Price - A Case Study

Jonathan Haskel and Holger C. Wolf

427: Strategic Interaction in the Market for Physician Services: The Treadmill Effect in a Fixed Budget System

Franz Benstetter and Achim Wambach

426: The Sources of Protectionist Drift in Representative Democracies

Didier Laussel and Raymond Riezman

425: Generalized Cash Flow Taxation

Alan Auerbach and David Bradford

424: On the Political Economy of Social Security and Public Education

Panu Poutvaara

423: Distribution and Growth in an Economy with Limited Needs

Gilles Saint-Paul

422: Federal Monetary Policy

Carsten Hefeker

421: Do Civil and Political Repression Really Boost Foreign Direct Investments?

Philipp Harms and Heinrich Ursprung

420: Equity Price Dynamics Before and After the Introduction of the Euro: A Note

Yin-Wong Cheung and Frank Westermann

419: Equilibrium Unemployment with Credit and Labour Market Imperfections

Erkki Koskela and Rune Stenbacka

418: Economic Liberalization and Savings Rates

Kashif Mansori

417: Incentives to (Irreversible) Investments Under Different Regulatory Regimes

Carlo Scarpa and Paolo Panteghini

416: Electoral Rules and Corruption

Torsten Persson, Guido Tabellini and Francesco Trebbi

415: Is the Political Business Cycle for Real?

Stephen Blomberg and Gregory D. Hess

414: Beyond National Institutions: Labor Taxes and Regional Unemployment in Italy

Claudio Lupi and Giorgio Brunello

413: Nature, Power, and Growth

Thorvaldur Gylfason

412: Adverse Selection in the Annuity Market when Payoffs Vary over the Time of Retirement

Johann Brunner and Susanne Pech

411: Democracy and Income In-Equality: An Empirical Analysis

Mark Gradstein, Branko Milanovic and Yvonne Ying

410: Politics and Trade Policy: An Empirical Investigation

Theo Eicher and Thomas Osang

409: Optimal Forest Taxation under Private and Social Amenity Valuation

Erkki Koskela and Markku Ollikainen

408: The Enlargement of the European Union and the Redistribution of Seigniorage Wealth

Holger Feist

407: Optimal Central Bank Conservatism and Monopoly Trade Unions

Helge Berger, Carsten Hefeker and Ronnie Schöb

406: Competition of Politicians for Incentive Contracts and Elections

Hans Gersbach

405: Sources of U.S. Longevity Increase, 1960 -1997

Frank Lichtenberg

404: The Benefits and Costs of Newer Drugs: Evidence from the 1996 Medical Expenditure Panel Survey

Frank Lichtenberg

403: Theories of Fairness and Reciprocity – Evidence and Economic Applications

Ernst Fehr and Klaus Schmidt

402: Residence-based Capital Taxation: Why Information is Voluntarily Exchanged and why it is not

Wolfgang Eggert and Martin Kolmar

401: Auctions and Corruption

Yvan Lengwiler and Elmar Wolfstetter

400: Equilibrium Contracts for the Central Bank of a Monetary Union

Avinash Dixit and Henrik Jensen

399: The Role of Taxes as Automatic Destabilizers in New Keynesian Economics

Claus Thustrup Hansen and Henrik Jacobsen Kleven

398: Inequality and the State: Comparing U.S. and German Preferences

Giacomo Corneo

397: How Efficient is the East German Economy? An Exploration With Micro Data

Michael Funke and Jörg Rahn

396: Open Market Operations as a Monetary Policy Shock Measure in a Quantitative Business Cycle Model

Burkhard Heer and Andreas Schabert

395: The Empirical Relevance of the New Economic Geography: Testing for a Spatial Wage Structure in Germany

Steven Brakman, Harry Garretsen and Marc Schramm

394: The Role of Social Security in Household Decisions: Var Estimates of Saving and Fertility Behaviour in Germany

Alessandro Cigno, Luca Casolaro and Furio Rosati

393: Cost Competition, Fragmentation and Globalization

Barbara Dluhosch and Michael Burda

392: The Malleability of Undiscounted Utilitarianism as a Criterion of Intergenerational Justice

Geir Asheim and Wolfgang Buchholz

391: Income Splitting – is it Good for Both Partners in the Marriage?

Matthias Wrede

390: Tax Competition and International Public Goods

Kjetil Bjorvatn and Guttorm Schjelderup

389: Choosing Between School Systems

Volker Meier

388: On the Intergenerational Incidence of Wage and Consumption Taxes

Berthold Wigger

387: Vertical Product Differentiation and the Import Demand Function: Theory and Evidence

Jim Malley and Thomas Moutos

386: Work-Sharing: an Efficiency-Wage Analysis

Thomas Moutos and William Scarth

385: Neutral Technological Change and the Skill Premium

Thomas Moutos

384: On the Determinants of Labour Market Institutions: Rent-Sharing vs. Social Insurance

Jonas Agell

383: On the Analytics of the Dynamic Laffer Curve

Jonas Agell and Mats Persson

382: Auction Theory from an All-Pay View: Buying Binary Lotteries

Wolfgang Leininger

381: The Optimal Portfolio of Start-Up Firms in Venture Capital Finance

Vesa Kanniainen and Christian Keuschnigg

380: Term Length and the Quality of Appointments

Amihai Glazer and Vesa Kanniainen

379: Entrepreneurship in a Unionised Economy

Mikko Leppämäki and Vesa Kanniainen

378: Two Mezzogiornos

Hans-Werner Sinn and Frank Westermann

377: The Minimum Inflation Rate for Euroland

Michael Reutter and Hans-Werner Sinn

376: Commodity Taxation and International Trade in Imperfect Markets

Andreas Haufler, Guttorm Schjelderup and Frank Stähler

375: Privatisation and Institutions: A Cross Country Analysis

Bernardo Bortolotti, Domenico Siniscalco and Marcella Fantini

374: Estimation and Inference In Short Panel Vector Autoregressions with Unit Roots And Cointegration

Michael Binder, Cheng Hsiao and Mohammad Pesaran

373: Comparative Analysis of Litigation Systems: An Auction-Theoretic Approach

Michael Baye, Dan Kovenock, Casper De Vries and de Vries Casper G

372: Unemployment and Consumption: Are Job Losses Less Painful near the Mediterranean?

Samuel Bentolila and Andrea Ichino

371: Pareto Efficiency in International Taxation

Michael Keen and David Wildasin

370: Fiscal Competition in Space and Time

David Wildasin

369: Optimal Tariffs and Subsidies And Changes in Markets Structure

Dominik Egli and Frank Westermann

368: Public Funding of Political Parties

Christian Schultz and Ignacio Ortuno-OrtÍn

367: The Environmental Kuznets Curve: Exploring a Fresh Specification

David Bradford, Rebecca Schlieckert and Stephen H. Shore

366: How Much Fiscal Equalisation?

Robert Fenge and Jakob von Weizsäcker

365: Do Benefit Cuts Boost Job Findings? Swedish Evidence From the 1990s

Kenneth Carling, Bertil Holmlund and Altin Vejsiu

364: The Efficient Side of Progressive Income Taxation

Giacomo Corneo

363: On a Simple Survey Measure of Individual Risk Aversion

Joop Hartog, Ada Ferrer-i-Carbonell and Nicole Jonker

362: Controlling Complexity in Spatial Modelling

Jean Paelinck

361: Pollution and Resource Extraction: Do they Matter for the Dynamics of Growth?

George Economides and Apostolis Philippopoulos

360: Can Cross-Border Pollution Reduce Pollution?

Panos Hatzipanayotou, Sajal Lahiri and Michael Michael

359: Enterprise Formation and Labor Market Institutions

Vesa Kanniainen and Timo Vesala

358: European Market Integration for Gas? Volume Flexibility and Political Risk

Frank Asche, Petter Osmundsen and Ragnar Tveterås

357: Anarchy, Efficiency, and Redistribution

Dieter Bös and Martin Kolmar

356: Entrepreneurship, Economic Risks, and Risk Insurance in the Welfare State: Results with OECD Data 1978-93

Pekka Ilmakunnas and Vesa Kanniainen

355: Inequality and Growth: The Dual Role of Human Capital in Development

Theo Eicher

354: Controlling Investment Decisions: Hurdle Rates and Intertemporal Cost Allocation

Sunil Dutta and Stefan Reichelstein

353: Seignorage Wealth in the Eurosystem: Eurowinners and Eurolosers Revisited

Hans-Werner Sinn and Holger Feist