CESifo Working Paper Series

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607: Trend and Cycles in U.S. Real GDP

Gebhard Flaig

606: Wicksellian Theory of Forest Rotation under Interest Rate Variability

Luis Alvarez and Erkki Koskela

605: On the Optimality of Joint Taxation with Household Production

Henrik Jacobsen Kleven and Claus Kreiner

604: The Transmission of German Monetary Policy in the Pre-Euro Period

Helmut Lütkepohl and Juergen Wolters

603: Risk Taking, Limited Liability and the Competition of Bank Regulators

Hans-Werner Sinn

602: The Political Economy of Policy Centralization: Direct Versus Representative Democracy

Michela Redoano and Kimberley Scharf

601: Issue Linkage and Issue Tie-in in Multilateral Negotiations

Paola Conconi and Carlo Perroni

600: Privatisation Around the World: New Evidence from Panel Data

Bernardo Bortolotti, Marcella Fantini and Domenico Siniscalco

599: Is Fiscal Policy Coordination in EMU Desirable?

Roel Beetsma, Xavier Debrun and Franc Klaassen

598: Foreign Direct Investment in Producer Services: Theory and Empirical Evidence

Horst Raff and Marc von der Ruhr

597: Procompetitive Trade Policies

José Luis Moraga Gonzales and Jean-Marie Viaene

596: The Effect of Employment Protection on Worker Effort. A Comparison of Absenteeism During and After Probation

Andrea Ichino and Regina Riphahn

595: The Economics of Duty-Free Shopping

Vidar Christiansen and Stephen Smith

594: Vertical Structure and Strategic Environmental Trade Policy

Stephan F. Hamilton and Till Requate

593: Institutional Framework and Poverty: A Transition Economy Perspective

Syed Ahsan

592: Education and Efficient Redistribution

Robert Dur and C. N. Teulings

591: The Funds Concentration Effect and Discriminatory Bailout

Ulrich Erlenmaier and Hans Gersbach

590: Is Targeted Tax Competition Less Harmful than its Remedies?

Eckhard Janeba and Michael Smart

589: On Modes of Economic Governance

Avinash Dixit

588: Taxation and Foreign Direct Investment: A Synthesis of Empirical Research

Ruud de Mooij and Sjef Ederveen

587: Trade Unions and the Burden of the Public Debt

Erling Steigum

586: Barter, Liquidity and Market Segmentation

Canice Prendergast and Lars Stole

585: EU Enlargement: Economic Implications for Countries and Industries

Arjan Lejour, Ruud de Mooij and Richard Nahuis

584: The Third Generation (UMTS) Spectrum Auction in Germany

Veronika Grimm, Frank Riedel and Elmar Wolfstetter

583: Borrow and Adjust: Fiscal Policy and Sectoral Adjustment in an Open Economy

Erling Steigum and Øystein Thøgersen

582: Redundancy Pay and Collective Dismissals

Laszlo Goerke

581: Contractual Externalities and Common Agency Equilibria

David Martimort and Lars Stole

580: Insurance and the Utilization of Medical Services Among the Self-Employed

Craig William Perry and Harvey Rosen

579: Bridging the Tax-Expenditure Gap: Green Taxes and the Marginal Cost of Funds

Agnar Sandmo

578: Does the Nominal Exchange Rate Regime Matter for Investment?

Hjalmar Böhm and Michael Funke

577: Exchange Rates and fundamentals - a Non-Linear Relationship?

Paul De Grauwe and Isabel Vansteenkiste

576: Bequests, Control Rights, and Cost-Benefit Analysis

Amihai Glazer, Vesa Kanniainen and Esko Niskanen

575: The Revelation and Delegation Principles in Common Agency Games

David Martimort and Lars Stole

574: European Integration - A Downward Bias in Employment Policies?

Torben Andersen

573: A Complete Characterization of the Distributional Effects of International Outsourcing in the Heckscher-Ohlin Model

Hartmut Egger and Josef Falkinger

572: Common Agency Equilibria with Discrete Mechanisms and Discrete Types

David Martimort and Lars Stole

571: In Search of Leading Indicators of Economic Activity in Germany

Harm Bandholz and Michael Funke

570: Keynesian, Non-Keynesian or No Effects of Fiscal Policy Changes? The EMU Case

Bas van Aarle, Harry Garretsen and Bas Van Aarle

569: Spilling Over and Crowding Out: The Effects of Public Sector/Private Sector Convergence and Competition, in the Provision of Public Goods

Diana Barrowclough

568: Urban Congestion Charging: Theory, Practice and Environmental Consequences

Georgina Santos and David M Newbery

567: International Cooperation over Green Taxes: On the Impossibility of Achieving a Probability-One Gain

Thomas Aronsson, Kenneth Backlund and Karl-Gustav Löfgren

566: On Subsidising Auto-Commuting

Edward Calthrop

565: Delegated Monitors, Large and Small: The Development of Germany’s Banking System, 1800-1914

Timothy Guinnane

564: A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds

Eduardo R. Borensztein and R. Gaston Gelos

563: International Bailouts, Moral Hazard, and Conditionality

Olivier Jeanne and Jeromin Zettelmeyer

562: Public Health Care with Waiting Time: The Role of Supplementary Private Health Care

Michael Hoel and Erik Magnus Sæther

561: When will the Germans Get Trapped in their Pension System?

Silke Uebelmesser and Hans-Werner Sinn

560: The Biological Standard of Living in the Two Germanies

John Komlos and Peter Kriwy

559: Insurance Contracts and Securitization

Neil A. Doherty and Harris Schlesinger

558: Estate Taxation

Tomer Blumkin and Efraim Sadka

557: Tax Rate Uncertainty and Investment Behavior

Rainer Niemann

556: How to Run a Target Zone? Age Old Lessons from an Austro-Hungarian Experiment

Marc Flandreau and John Komlos

555: An Equilibrium Analysis of Marriage, Divorce and Risk-Sharing

Dan Anderberg

554: Income Shifting, Investment, and Tax Competition: Theory and Evidence from Provincial Taxation in Canada

Jack Mintz and Michael Smart

553: Migration, Local Fiscal Variables and Local Economic Conditions

Fredrik Carlsen

552: The Optimal Path of Energy and CO2 Taxes for Intertemporal Resource Allocation

Klaus Conrad

551: Trade Union Objectives and Economic Growth

Andreas Irmen and Berthold Wigger

550: Profits, Markups and Entry: Fiscal Policy in an Open Economy

Javier Coto-Martínez and Huw Dixon

549: A Frequent Misuse of Significance Tests

Thomas Mayer

548: Corporate Tax Asymmetries under Investment Irreversibility

Paolo Panteghini

547: Fiscal Aspects of Central Bank Independence

Christopher Sims

546: Why Cities Should not be Subsidized

Robert Fenge and Volker Meier

545: Responsibility and Redistribution: The Case of First Best Taxation

Bertil Tungodden

544: Cost-Benefit Rules for Public Good Provision with Distortionary Taxation

Jeremy Edwards

543: Income Distribution and Tax Structure: Microeconomic Test of the Meltzer-Richard Hypothesis

Lars-Erik Borge and Jorn Rattso

542: Taxes or Fees? The Political Economy of Providing Excludable Public Goods

Kurtis Swope and Eckhard Janeba

541: Science vs. Profit in Research. Lessons from the Human Genome Project

Carlo Carraro, Alessandra Pomè and Domenico Siniscalco

540: The Right Man for the Job

Pieter Gautier

539: How Should Tobacco Be Taxed in EU-Accession Countries?

Sijbren Cnossen

538: Appropriation, Human Capital, and Mandatory Schooling

Amihai Glazer and Mark Gradstein

537: Welfare to Work in the US: A Model for Germany?

Wolfgang Ochel

536: The Role of Prices on Excludable Public Goods

Sören Blomquist and Vidar Christiansen

535: Nominal Wage Rigidity: Non-Parametric Tests Based on Union Data for Canada

Louis Christofides and Thanasis Stengos

534: The Swiss UMTS Spectrum Auction Flop: Bad Luck or Bad Design

Elmar Wolfstetter

533: Surviving Unemployment without State Support: Unemployment and Household Formation in South Africa

Stephan Klasen and Ingrid Woolard

532: A Structural Model of Tenure and Specific Investments

Martin A. van der Ende and C. N. Teulings

531: Construction and Impact of a Buffer Fund within the French PAYG Pension Scheme in a Demo-Economic Model

Stéphane Hamayon and Florence Legros

530: Natural Resources and Economic Growth: What Is the Connection?

Thorvaldur Gylfason

529: International Commodity Taxation Under Monopolistic Competition

Andreas Haufler and Michael Pflüger

528: Effects of Tax Depreciation Rules on Firms' Investment Decisions in an Inflationary Phase: Comparison of Net Present Values in Selected OECD Countries

Chang Woon Nam

527: Higher Education Financing and Income Redistribution

Berthold Wigger

526: Endogenous Growth in an Open Economy and the Real Exchange Rate

Daniela Federici and Giancarlo Gandolfo

525: The Equilibrium Value of the Euro/$ US Exchange Rate: An Evaluation of Research

Jerome Stein

524: Tax Competition, Capital Mobility and Public Good Provision Within a Trading Block

Costas Hadjiyiannis, Panos Hatzipanayotou and Michael Michael

523: Voting on Public Pensions With Hand and Feet: How Young Migrants Try to Escape From Gerontocracy

Alexander Haupt and Wolfgang Peters

522: Are We Retiring too Early?

Pierre Pestieau

521: The Politics of Pension Reform under Ageing

Theo Leers, Lex Meijdam and Harrie A. A Verbon

520: Wages and Wage-Bargaining Institutions in the Emu: A Survey of the Issues

Lars Calmfors

519: Welfare Comparisons: Sequential Procedures for Heterogeneous Population

Peter Lambert and Xavi Ramos

518: Tax Principles and Tax Harmonization under Imperfect Competition: A Cautionary Example

Michael Keen, Sajal Lahiri and Pascalis Raimondos

517: Market Structure, Technology Spillovers, and Persistence in Productivity Differentials

Yin-Wong Cheung and Antonio I. Garcia Pascual

516: Energy Taxes and Natural Gas Demand in EU-Countries

Frank Asche, Petter Osmundsen and Ragnar Tveterås

515: Bureaucrats and Public Procurement

Dieter Bös

514: Unemployment Benefits, Contract Length and Nominal Wage Flexibility

Lars Calmfors and Åsa Johansson

513: Wage Inequality and the Effort Incentive Effects of Technological Progress

Campbell Leith and Chol-Won Li

512: Human Capital Formation, Income Inequality and Growth

Jean-Marie Viaene and Itzhak Zilcha

511: Inflation in Developing Countries: Does Central Bank Independence Matter?

Jan-Egbert Sturm and Jakob de Haan

510: The Rationale for Fundamental Pension Reform in Germany and the United States: An Assessment

Gary Burtless

509: The Dynamics of Deposit Insurance and the Consumption Trap

Hans Gersbach and Jan Wenzelburger

508: Social Dumping in the Transformation Process

Hans-Werner Sinn