CESifo Working Paper Series

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3154: A Note on Brain Gain and Brain Drain: Permanent Migration and Education Policy

Alexander Haupt, Tim Krieger and Thomas Lange

3153: Dynamically Optimal R&D Subsidization

Volker Grossmann, Thomas Steger and Timo Trimborn

3152: World Equity Premium Based Risk Aversion Estimates

Lorenzo C. G. Pozzi, Casper De Vries, Jorn Zenhorst and de Vries Casper G

3151: Cross-Country Evidence on Teacher Performance Pay

Ludger Woessmann

3150: Fixed-Term and Permanent Employment Contracts: Theory and Evidence

Shutao Cao, Enchuan Shao and Pedro Silos

3149: Wage and Employment Effects of Non-Binding Minimum Wages

Marcus Dittrich and Andreas Knabe

3148: Is the Welfare State Sustainable? Experimental Evidence on Citizens' Preferences for Redistribution

Ilja Neustadt and Peter Zweifel

3147: Time-Varying Exchange Rate Basket in China from 2005 to 2009

Jarko Fidrmuc

3146: Will Women Save more than Men? A Theoretical Model of Savings and Marriage

Shoshana Amyra Grossbard, Alfredo Pereira and Shoshana Grossbard

3145: Entrepreneurship and Market Size. The Case of Young College Graduates in Italy

Sabrina Di Addario and Daniela Vuri

3144: Benefit-Cost Analysis of Environmental Projects: A Plethora of Systematic Biases

Philip Graves

3143: Total Costs and Budgetary Effects of Adaptation to Climate Change: An Assessment for the European Union

Daniel Osberghaus and Christiane Reif

3142: Outsourcing Cost and Tax Progression under Nash Wage Bargaining with Flexible Outsourcing

Erkki Koskela

3141: The Tragedy of Annuitization

Ben J. Heijdra, Jochen Mierau and Laurie S. M. Reijnders

3140: Labor Market Policy: A Comparative View on the Costs and Benefits of Labor Market Flexibility

Lawrence Kahn

3139: Global Warming and Extreme Events: Rethinking the Timing and Intensity of Environmental Policy

Yu-Fu Chen and Michael Funke

3138: Inflation Targeting by Debtor Central Banks in Emerging Market Economies

Axel Löffler, Gunther Schnabl and Franziska Schobert

3137: Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity

Carolina Manzano and Xavier Vives

3136: Group Contests with Complementarities in Efforts

Martin Kolmar and Hendrik Rommeswinkel

3135: The Herodotus Paradox

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

3134: Banking Crises and Crisis Dating: Theory and Evidence

John Boyd, Gianni De Nicolò and Elena Loukoianova

3133: Information, Uncertainty, and Subjective Entitlements in Bargaining

Emin Karagözoğlu and Arno Riedl

3132: The Trend of BMI Values by Centiles of US Adults, Birth Cohorts 1882-1986

John Komlos and Marek Brabec

3131: Risk Premia in General Equilibrium

Olaf Posch

3130: The Impact of Paternity Leave on Long-term Father Involvement

Mari Rege and Ingeborg F. Solli

3129: Separating the Hawks from the Doves: Evidence from Continuous Time Laboratory Games

Ryan Oprea, Keith Henwood and Daniel Friedman

3128: On the Optimality of Joint Taxation for Non-Cooperative Couples

Volker Meier and Helmut Rainer

3127: Partial Tax Coordination in a Repeated Game Setting

Jun-ichi Itaya, Makoto Okamura and Chikara Yamaguchi

3126: Pay for Politicians and Candidate Selection: An Empirical Analysis

Kaisa Kotakorpi and Panu Poutvaara

3125: Natural Resources: Curse or Blessing?

Frederick (Rick) van der Ploeg

3124: A Fair Price for Energy? Ownership versus Market Opening in the EU15

Carlo Fiorio and Massimo Florio

3123: Experience, Innovation and Productivity - Empirical Evidence from Italy's Slowdown

Francesco Daveri and Maria Laura Parisi

3122: Global Climate Change and the Resurgence of Tropical Disease: An Economic Approach

Douglas Gollin and Christian Zimmermann

3121: Can Lower Tax Rates be Bought? Business Rent-Seeking and Tax Competition among U.S. States

Bob Chirinko and Daniel Wilson

3120: 'Take it or Go to Court' - The Impact of Sec. 1a of the German Protection against Dismissal Act on Severance Payments -

Laszlo Goerke and Markus Pannenberg

3119: Generalized Taylor and Generalized Calvo Price and Wage-Setting: Micro Evidence with Macro Implications

Huw Dixon and Hervé Le Bihan

3118: Heckscher-Ohlin Theory when Countries have Different Technologies

Eric Fisher

3117: Remittances, Banking Status and the Usage of Insurance Schemes

Dorothee Crayen, Christa Hainz and Christiane Ströh de Martinez

3116: Predictability of Asset Returns and the Efficient Market Hypothesis

Mohammad Pesaran

3115: Liquidity Risk, Credit Risk and the Overnight Interest Rate Spread: A Stochastic Volatility Modelling Approach

John Beirne, Guglielmo Maria Caporale and Nicola Spagnolo

3114: School Shootings and Student Performance

Panu Poutvaara and Olli Ropponen

3113: Equity as a Prerequisite for Stable Cooperation in a Public-Good Economy - The Core Revisited

Wolfgang Buchholz and Wolfgang Peters

3112: Uniform and Nonuniform Staggering of Wage Contracts

Leif Danziger

3111: The Impact of Teacher Subject Knowledge on Student Achievement: Evidence from Within-Teacher Within-Student Variation

Johannes Metzler and Ludger Woessmann

3110: Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and other Culprits

Balázs Égert

3109: Competition, Imitation, and R&D Productivity in a Growth Model with Sector-Specific Patent Protection

Malte Mosel

3108: Optimal Income Taxation with Tax Competition

Vilen Lipatov, Alfons J. Weichenrieder and Alfons Weichenrieder

3107: Coordinated Tax-Tariff Reforms, Informality, and Welfare Distribution

Jenny Ligthart and Gerard van der Meijden

3106: Long-Lasting Bank Relationships and Growth of Firms

Alessandro Gambini and Alberto Zazzaro

3105: The Effect of Compulsory Schooling on Health - Evidence from Biomarkers

Hendrik Jürges, Eberhard Kruk and Steffen Reinhold

3104: The Effect of Education on Marital Status and Partner Characteristics: Evidence from the UK

Dan Anderberg and Yu Zhu

3103: Competition and Relationship Lending: Friends or Foes?

Andrea Presbitero and Alberto Zazzaro

3102: Investor Protection and Foreign Stakeholders

Maela Giofre'

3101: Financial Dollarization and European Union Membership

Kyriakos Neanidis

3100: Who do you Blame in Local Finance? An Analysis of Municipal Financing in Italy

Massimo Bordignon and Santino Piazza

3099: Labor Markets and Capital Tax Competition

Thomas Eichner and Thorsten Upmann

3098: Whither Public Interest: The Case of Greece's Public Finances

Thomas Moutos and Christos Tsitsikas

3097: A Continuous Theory of Income Insurance

Assar Lindbeck and Mats Persson

3096: Hotelling Competition with Multi-Purchasing: Time Magazine, Newsweek, or both?

Simon Anderson, Øystein Foros and Hans Jarle Kind

3095: The Contribution of Pharmaceutical Innovation to Longevity Growth in Germany and France

Frank Lichtenberg

3094: Accidental Bequests: A Curse for the Rich and a Boon for the Poor

Helmuth Cremer, Firouz Gahvari and Pierre Pestieau

3093: A Unified Framework for Using Micro-Data to Compare Dynamic Wage and Price Setting Models

Huw Dixon

3092: Quantifying Optimal Growth Policy

Volker Grossmann, Thomas Steger and Timo Trimborn

3091: The Interaction of Legal and Social Norm Enforcement

Sebastian Kube and Christian Traxler

3090: Remittances and Financial Openness

Michel Beine, Elisabetta Lodigiani and Robert Vermeulen

3089: IMF Surveillance and Financial Markets - A Political Economy Analysis

Marcel Fratzscher and Julien Reynaud

3088: Fiscal Rules and Composition Bias in OECD Countries

Momi Dahan and Michel Strawczynski

3087: Determinants of Constitutional Change: Why do Countries Change their Form of Governments?

Bernd Hayo and Stefan Voigt

3086: School Competition and Students' Entrepreneurial Intentions: International Evidence Using Historical Catholic Roots of Private Schooling

Oliver Falck and Ludger Woessmann

3085: Interjurisdictional Linkages and the Scope for Interventionist Legal Harmonization

Andrzej Baniak and Peter Grajzl

3084: Labour Disputes and the Game of Legal Representation

Henri Fraisse

3083: International Carbon Emissions Trading and Strategic Incentives to Subsidize Green Energy

Thomas Eichner and Rüdiger Pethig

3082: Firm Level Productivity under Imperfect Competition in Output and Labor Markets

Sara Amoroso, Peter Kort, Bertrand Melenberg, Joseph Plasmans and Mark Vancauteren

3081: Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model

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

3080: The VARying Effect of Foreign Shocks in Central and Eastern Europe

Rebeca Jiménez-Rodríguez, Amalia Morales-Zumaquero and Balázs Égert

3079: The Economic Consequences of Rising U.S. Government Debt: Privileges at Risk

Henning Bohn

3078: World Heritage List: Does it Make Sense?

Bruno Frey and Lasse Steiner

3077: How to Deal with Covert Child Labour, and Give Children an Effective Education, in a Poor Developing Country: An Optimal Taxation Problem with Moral Hazard

Alessandro Cigno

3076: The Effects of Taxation on the Location Decision of Multinational Firms: M&A vs. Greenfield Investments

Shafik Hebous, Martin Ruf, Alfons J. Weichenrieder and Alfons Weichenrieder

3075: Fiscal and Migration Competition

Assaf Razin and Efraim Sadka

3074: EU Banks Rating Assignments: Is there Heterogeneity between New and Old Member Countries?

Guglielmo Maria Caporale, Roman Matousek and Chris Stewart

3073: Optimal Liability Sharing and Court Errors: An Exploratory Analysis

Marcel Boyer and Donatella Porrini

3072: Optimal Monetary Policy when Agents are Learning

Krisztina Molnar and Sergio Santoro

3071: The Old-Boy Network and the Quality of Entrepreneurs

Mehmet Bac and Eren Inci

3070: Culture and Cooperation

Simon Gaechter, Benedikt Herrmann and Christian Thöni

3069: Estimating Incentive and Welfare Effects of Non-Stationary Unemployment Benefits

Andrey Launov and Klaus Wälde

3068: Why do Scandinavians Work?

Torben Andersen

3067: Core-stable Rings in Auctions with Independent Private Values

Omer Biran and Francoise Forges

3066: Strategic Trade Policy through the Tax System

Johannes Becker

3065: Do Undergraduate Majors or Ph.D. Students Affect Faculty Size?

William Becker, William Greene and John Siegfried

3064: Après nous le Déluge: Fertility and the Intensity of Struggle against Immigration

Leonid Azarnert

3063: Volatility Transmission in Emerging European Foreign Exchange Markets

Vit Bubak, Evžen Kočenda and Filip Zikes

3062: Efficient Management of Insecure Fossil Fuel Imports through Taxing (!) Domestic Green Energy?

Thomas Eichner and Rüdiger Pethig

3061: A Panel Data Investigation of Real Exchange Rate Misalignment and Growth

Ronald MacDonald and Flavio Vieira

3060: A New Approach to Solving Production-Appropriation Games with Many Heterogeneous Players

Richard Cornes, Roger Hartley and Yuji Tamura

3059: Marginal Tax Rates and Tax-Favoured Pension Savings of the Self-Employed - Evidence from Sweden

Håkan Selin

3058: Has the Euro Affected the Choice of Invoicing Currency?

Jenny Ligthart and Sebastian E. V. Werner

3057: The Patterns of Inter-firm and Inter-industry Knowledge Flows in the Netherlands

Joseph Plasmans and Ruslan Lukach

3056: Do Natural Resources Depress Income Per Capita?

Rabah Arezki and Frederick (Rick) van der Ploeg

3055: Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit

Mohammad Pesaran and Alexander Chudik