CESifo Working Paper Series

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5857: The Political Economy of Multilateral Aid Funds

Jenny Simon and Justin Mattias Valasek

5856: Democracy and International Conflict

Alberto Vesperoni and Karl Wärneryd

5855: Measuring the Stringency of Land-Use Regulation: The Case of China's Building-Height Limits

Jan Brueckner, Shihe Fu, Yizhen Gu and Junfu Zhang

5854: Q-Targeting in New Keynesian Models

Burkhard Heer, Alfred Maussner and Halvor Ruf

5853: Imminent Entry and the Transition to Multimarket Rivalry in a Laboratory Setting

Charles Mason and Owen R. Phillips

5852: Key Success Drivers in Public Research Grants: Funding the Seeds of Radical Innovation in Academia?

Albert Banal-Estanol, Ines Macho-Stadler and David Perez-Castrillo

5851: Moral Hazard: Base Models and Two Extensions

Ines Macho-Stadler and David Perez-Castrillo

5850: Optimal Policies against Profit Shifting: The Role of Controlled-Foreign-Company Rules

Andreas Haufler, Mohammed Mardan and Dirk Schindler

5849: Electoral Competition with Rationally Inattentive Voters

Filip Matejka and Guido Tabellini

5848: Are Expectations Alone Enough? Estimating the Effect of a Mandatory College-Prep Curriculum in Michigan

Brian A. Jacob, Susan Dynarski, Kenneth Frank and Barbara Schneider

5847: Dynamic Competition with Network Externalities: Why History Matters

Hanna Halaburda, Bruno Jullien and Yaron Yehezkel

5846: Policy Uncertainty and Manufacturing Investment: Evidence from U.S. State Elections

Cameron A. Shelton and Nathan Falk

5845: Optimal Taxation, Income Inequality and the Household

Patricia Apps and Ray Rees

5844: Das House-Kapital: A Theory of Wealth-to-Income Ratios

Volker Grossmann and Thomas Steger

5843: Auctioneers as Market Makers: Managing Momentum in Chittagong Tea Auctions

Tanjim Hossain, Fahad Khalil and Matthew Shum

5842: Making the World a Better Place: Consumers' Group Identity in the Markets with Competition and Two-sided Opportunism

Vesa Kanniainen

5841: Population Aging and Inventive Activity

Andreas Irmen and Anastasia Litina

5840: Impact of European Food Safety Border Inspections on Agri-Food Exports: Evidence from Chinese Firms

Matthias Beestermöller, Anne-Célia Disdier and Lionel Fontagné

5839: Regulatory Competition in Capital Standards with Selection Effects among Banks

Andreas Haufler and Ulf Maier

5838: Optimal Cost Overruns: Procurement Auctions and Renegotiation

Fabian Herweg and Marco A. Schwarz

5837: Identification and Estimation of the Environmental Kuznets Curve: Pairwise Differencing to Deal with Nonlinearity and Nonstationarity

Suphi Sen, Bertrand Melenberg and Herman R.J. Vollebergh

5836: Taking the Leap: The Determinants of Entrepreneurs Hiring their First Employee

Robert Fairlie and Javier Miranda

5835: Trade, Finance and Endogenous Firm Heterogeneity

Alessandra Bonfiglioli, Rosario Crino and Gino Gancia

5834: Effective Tax Rates and Effective Progressivity in a Fiscally Decentralized Country

Marcus Roller and Kurt Schmidheiny

5833: Where are the Rent Seekers?

Arye L. Hillman and Heinrich Ursprung

5832: Diabetes and Labor Market Exits: Evidence from the Health & Retirement Study (HRS)

Pinka Chatterji, Heesoo Joo and Kajal Lahiri

5831: World-Trade Growth Accounting

Peter Egger and Sergey Nigai

5830: Mirrlees Meets Diamond-Mirrlees

Florian Scheuer and Iván Werning

5829: The Value of Incumbency in Heterogeneous Platforms

Gary Biglaiser and Jacques Crémer

5828: Imported-input Trade Liberalization and Firms' Export Performance in China: Theory and Evidence

Haichao Fan, Edwin Lai and Han Steffan Qi

5827: The Lasting Effects of Maternal Net Nutrition during US Economic Development

Scott A. Carson

5826: US Monetary Policy in a Globalized World

Jesús Crespo-Cuaresma, Gernot Doppelhofer, Martin Feldkircher and Florian Huber

5825: The China Shock: Learning from Labor Market Adjustment to Large Changes in Trade

David Autor, David Dorn and Gordon Hanson

5824: Big Data Analytics: A New Perspective

Alexander Chudik, George Kapetanios and Mohammad Pesaran

5823: Special and Differential Treatment for Developing Countries

Emanuel Ornelas

5822: Illegal Migration and Consumption Behavior of Immigrant Households

Christian Dustmann, Francesco Fasani and Biagio Speciale

5821: Does Income Inequality Lead to Terrorism?

Tim Krieger and Daniel Meierrieks

5820: Finance, Labour, Capital, and International Integration

Giuseppe Bertola

5819: Public Choice and Public Finance: A Survey

Charles Blankart

5818: Comment on Feige's Paper "Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the 'Shadow Economy'?"

Friedrich Schneider

5817: Smoothing Asymmetric Shocks vs. Redistribution in the Euro Area: A Simple Proposal for Dealing with Mistrust in the Euro Area

Heikki Oksanen

5816: Exchange Rates and Macro News in Emerging Markets

Guglielmo Maria Caporale, Fabio Spagnolo and Nicola Spagnolo

5815: Information Aggregation in Democratic Mechanisms

Volker Britz and Hans Gersbach

5814: How Large are Global Energy Subsidies?

David Coady, Ian Parry, Louis Sears and Baoping Shang

5813: The More, the Better? The Impact of Instructional Time on Student Performance

Alejandra Cattaneo, Chantal Oggenfuss and Stefan Wolter

5812: Unleashing Animal Spirits - Self-Control and Overpricing in Experimental Asset Markets

Martin Kocher, Konstantin Lucks and David Schindler

5811: Extending the Input-Output Table Based on Firm-level Data

Heiwai Tang, Fei Wang and Zhi Wang

5810: Animal Spirits and the International Transmission of Business Cycles

Paul De Grauwe and Yuemei Ji

5809: Repeated Lobbying by Commercial Lobbyists and Special Interests

Thomas Groll and Christopher J. Ellis

5808: A Tale of Two Tails: Productivity Distribution and the Gains from Trade

Sergey Nigai

5807: The Bank Lending Channel in a Dual Banking System: Evidence from Malaysia

Guglielmo Maria Caporale, Nazif Catik, Mohamad Husam Helmi, Faek Menla Ali and Mohammad Tajik

5806: A Neglected Semi-Stylized Fact of Daily Stock Returns

Walter Kraemer

5805: Do Individuals Put Effort into Lying? Evidence from a Compliance Experiment

Nadja Dwenger and Tim Lohse

5804: Do Market Incentives for Hospitals Affect Health and Service Utilization? Evidence from PPS-DRG Tariffs in Italian Regions

Lorenzo Cappellari, Anna De Paoli and Gilberto Turati

5803: Business Cycle Asymmetries and the Labor Market

Britta Kohlbrecher and Christian Merkl

5802: Members, Joiners, Free-Riders, Supporters

Erik Ansink and Cees Withagen

5801: The Assignment and Division of the Tax Base in a System of Hierarchical Governments

William H. Hoyt

5800: Homo Moralis: Personal Characteristics, Institutions, and Moral Decision-Making

Thomas Deckers, Armin Falk, Fabian Kosse and Nora Szech

5799: Migrating Extremists

Christian Ochsner and Felix Roesel

5798: How Firms Export: Processing vs. Ordinary Trade with Financial Frictions

Kalina Manova and Zhihong Yu

5797: Secular Stagnation: Insights from a New Keynesian Model with Hysteresis Effects

Bas van Aarle and Bas Van Aarle

5796: Stylized Facts and Simulating Long Range Financial Data

Laurie Davies and Walter Kraemer

5795: Explaining the EUA-CER Spread

Marc Gronwald and Beat Hintermann

5794: Revenue for EMU: A Contribution to the Debate on Fiscal Union

Anna Iara

5793: Unconventional Fiscal Policy, Inflation Expectations, and Consumption Expenditure

Francesco D'Acunto, Daniel Hoang, Michael Weber and Michael Weber

5792: Altruistic Observational Learning

Christoph March and Anthony Ziegelmeyer

5791: Evolutionary Stability in Fiscal Competition

Andreas Wagener

5790: Tackling Spillovers by Taxing Corporate Income in the European Union at Source

Sijbren Cnossen

5789: Public Provision and Local Income Tax Competition

Florian Kuhlmey and Beat Hintermann

5788: Trends and Patterns of Growth, Development, Achievements of China and India: A Comparative Analysis

Biswa Nath Bhattacharyay and Madhurima Bhattacharyay

5787: Stranded Assets, the Social Cost of Carbon, and Directed Technical Change: Macroeconomic Dynamics of Optimal Climate Policy

Frederick (Rick) van der Ploeg and Armon Rezai

5786: Fighting Collusion by Permitting Price Discrimination

Magdalena Helfrich and Fabian Herweg

5785: A Fairness Justification of Utilitarianism

Paolo Giovanni Piacquadio

5784: Improving the Availability of Trade Finance in Developing Countries: An Assessment of Remaining Gaps

Marc Auboin

5783: Adaptive Social Learning

Christoph March

5782: A General Approach to Recovering Market Expectations from Futures Prices with an Application to Crude Oil

Christiane Baumeister and Lutz Kilian

5781: Estimating Participation Responses Using Transfer Program Reform

Spencer Bastani, Ylva Moberg and Håkan Selin

5780: Political Advertising and Election Outcomes

Jörg Spenkuch and David Toniatti

5779: Après Nous le Déluge? Direct Democracy and Intergenerational Conflicts in Ageing Societies

Gabriel Ahlfeldt, Wolfgang Maennig and Malte Steenbeck

5778: Extracurricular Educational Programs and School Readiness: Evidence from a Quasi-Experiment with Preschool Children

Anna Makles and Kerstin Schneider

5777: Identity-Driven Cooperation versus Competition

Dennis Snower and Steven Bosworth

5776: Financial Development and Inequality in the Global Economy

Maximilian von Ehrlich and Tobias Seidel

5775: Fiscal Delegation in a Monetary Union with Decentralized Public Spending

Henrique Basso and James Costain

5774: Balanced Growth Despite Uzawa

Gene Grossman, Elhanan Helpman, Ezra Oberfield and Thomas Sampson

5773: Candid Lame Ducks

Mariana Lopes da Fonseca

5772: Racial Differences in Labor Market Transitions and the Great Recession

Kenneth Couch, Robert Fairlie and Huanan Xu

5771: Job Creation Tax Credits, Fiscal Foresight, and Job Growth: Evidence from U.S. States

Bob Chirinko and Daniel Wilson

5770: Firm-Productivity and Export under Non-Constant Marginal Costs

Arijit Mukherjee

5769: Migration, Knowledge Diffusion and the Comparative Advantage of Nations

Dany Bahar and Hillel Rapoport

5768: Comparing Default Predictions in the Rating Industry for Different Sets of Obligors

Walter Kraemer and Simon Neumärker

5767: Reconciling Insurance with Market Discipline: A Blueprint for a European Fiscal Union

Mathias Dolls, Clemens Fuest, Friedrich Heinemann and Andreas Peichl

5766: The Economics of Investor Protection: ISDS versus National Treatment

Wilhelm Kohler and Frank Stähler

5765: Expressive Voting and Political Ideology in a Laboratory Democracy

Rasmus Wiese and Richard Jong-A-Pin

5764: Anticipation, Tax Avoidance, and the Price Elasticity of Gasoline Demand

John Coglianese, Lucas Davis, Lutz Kilian and James H. Stock

5763: Cooperation, Motivation and Social Balance

Steven Bosworth, Tania Singer and Dennis Snower

5762: Monetary Union, Even Higher Integration, or Back to National Currencies?

George Economides, Apostolis Philippopoulos and Petros Varthalitis

5761: Old-Age Provision in Transition: The Case of Croatia

Martin Werding and Marko Primorac

5760: One Pillar Crumbling, the Others too Short: Old-Age Provision in Germany

Martin Werding

5759: Inside the Crystal Ball: New Approaches to Predicting the Gasoline Price at the Pump

Christiane Baumeister, Lutz Kilian and Thomas K. Lee

5758: Does Homeownership Promote Wealth Accumulation?

Leo Kaas, Georgi Kocharkov and Edgar Preugschat