CESifo Working Paper Series

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3054: Limit-Order Submission Strategies under Asymmetric Information

Lukas Menkhoff, Carol Osler and Maik Schmeling

3053: Marginal Deadweight Loss when the Income Tax is Nonlinear

Sören Blomquist and Laurent Simula

3052: Active Currency Investing and Performance Benchmarks

Michael Melvin and Duncan Shand

3051: Redistributive Income Taxation under Outsourcing and Foreign Direct Investment

Thomas Aronsson and Erkki Koskela

3050: Competition and Stability in Banking

Xavier Vives

3049: A Race beyond the Bottom: The Nature of Bidding for a Firm

Taiji Furusawa, Kazumi Hori and Ian Wooton

3048: Tax-Competition with Involuntary Unemployment

Thomas Eichner and Thorsten Upmann

3047: Exports and Property Prices in France: Are they Connected?

Balázs Égert and Rafal Kierzenkowski

3046: Population under a Cap on Greenhouse Gas Emissions

Henning Bohn and Charles Stuart

3045: Pay as you Go: A New Proposal for Museum Pricing

Bruno Frey and Lasse Steiner

3044: Prices vs. Quantities and the Intertemporal Dynamics of the Climate Rent

Matthias Kalkuhl and Ottmar Edenhofer

3043: The Employment Effects of Low-Wage Subsidies

Kristiina Huttunen, Jukka Pirttilä and Roope Uusitalo

3042: A Note on the Computation of the Equity Premium and the Market Value of Firm Equity

Burkhard Heer and Alfred Maussner

3041: Multinational Capital Structure and Tax Competition

Matthias Wrede

3040: Tax Incentives, Bequest Motives, and the Demand for Life Insurance: Evidence from two Natural Experiments in Germany

Nicolas Sauter, Jan Walliser and Joachim Winter

3039: Technological Imitation and Innovation in New European Union Markets

Ainura Uzagalieva, Evžen Kočenda and António Menezes

3038: Aggressive Oil Extraction and Precautionary Saving: Coping with Volatility

Frederick (Rick) van der Ploeg

3037: The Economics of International Differences in Educational Achievement

Eric A. Hanushek and Ludger Woessmann

3036: Evaluating Nationwide Health Interventions when Standard Before-After Doesn't Work: Malawi's ITN Distribution Program

Eva Deuchert and Conny Wunsch

3035: Decentralization and Foreign Aid Effectiveness: Do Aid Modality and Federal Design Matter in Poverty Alleviation?

Christian Lessmann and Gunther Markwardt

3034: Multinationals, Minority Ownership and Tax-Efficient Financing Structures

Dirk Schindler and Guttorm Schjelderup

3033: Structural Change in OECD Comparative Advantage

Steven Brakman, Robert Inklaar, Charles van Marrewijk and Charles van Marrewijk

3032: Welfare Policy in the Presence of Unionised Labour and Internationally Mobile Firms

Silvia Rocha-Akis and Ronnie Schöb

3031: Forecasting Nonlinear Aggregates and Aggregates with Time-varying Weights

Helmut Lütkepohl

3030: The Effects of a Bonus Tax on Manager Compensation and Welfare

Doina Radulescu and Doina Maria Radulescu

3029: Explaining the Favorite-Longshot Bias: Is it Risk-Love or Misperceptions?

Erik Snowberg and Justin Wolfers

3028: Optimal Delegation when the Large Shareholder has Multiple Tasks

Clara Graziano and Annalisa Luporini

3027: Is Economic Recovery a Myth? Robust Estimation of Impulse Responses

C. N. Teulings and Nick Zubanov

3026: Matching and Saving in Continuous Time: Proofs

Christian Bayer and Klaus Wälde

3026: Matching and Saving in Continuous Time: Theory

Christian Bayer and Klaus Wälde

3025: Immigration, Fertility, and Human Capital: A Model of Economic Decline of the West

Leonid Azarnert

3024: Making Sense of Non-Binding Retail-Price Recommendations

Stefan Buehler and Dennis Gärtner

3023: Conditional Volatility and Correlations of Weekly Returns and the VaR Analysis of 2008 Stock Market Crash

Bahram Pesaran and M. Hashem Pesaran

3022: Fiscal Federalism and Electoral Accountability

Toke Aidt and Jayasri Dutta

3021: Demand Patterns for Treatment Insurance in Norway

Karl Ove Aarbu

3020: Top-Down versus Bottom-Up Macroeconomics

Paul De Grauwe

3019: Offshoring Tasks, yet Creating Jobs?

Wilhelm Kohler and Jens Wrona

3018: Take it or Leave it: Take-up, Optimal Transfer Programs, and Monitoring

Laurence Jacquet

3017: Optimal Investment and Financial Strategies under Tax Rate Uncertainty

Alessandro Fedele, Paolo Panteghini and Sergio Vergalli

3016: Racial Differences in Body-Mass Indices for Men Imprisoned in 19th Century US Prisons: A Multinomial Approach

Scott A. Carson

3015: Time-Varying Spot and Futures Oil Price Dynamics

Guglielmo Maria Caporale, Davide Ciferri and Alessandro Girardi

3014: Identification of Voters with Interest Groups Improves the Electoral Chances of the Challenger

Vjollca Sadiraj, Jan Tuinstra and Frans van Winden

3013: The Pungent Smell of "Red Herrings": Subsoil Assets, Rents, Volatility and the Resource Curse

Frederick (Rick) van der Ploeg and Steven Poelhekke

3012: The Economics of Terrorism and Counter-Terrorism: A Survey (Part II)

Friedrich Schneider, Tilman Brück and Daniel Meierrieks

3011: The Economics of Terrorism and Counter-Terrorism: A Survey (Part I)

Friedrich Schneider, Tilman Brück and Daniel Meierrieks

3010: Migration and Networks: Does Education Matter more than Gender?

Michel Beine and Sara Salomone

3009: Renminbising China's Foreign Assets

Yin-Wong Cheung, Guonan Ma and Robert McCauley

3008: International Trade without CES: Estimating Translog Gravity

Dennis Novy

3007: Sample Selectivity and the Validity of International Student Achievement Tests in Economic Research

Eric A. Hanushek and Ludger Woessmann

3006: Why do Foreign Banks Withdraw from other Countries? A Panel Data Analysis

Aneta Hryckiewicz and Oskar Kowalewski

3005: Global Cartels, Leniency Programs and International Antitrust Cooperation

Jay Choi and Heiko Gerlach

3004: Price Coordination in Two-Sided Markets: Competition in the TV Industry

Hans Jarle Kind, Tore Nilssen and Lars Sørgard

3003: Climate Treaties and Backstop Technologies

Scott Barrett

3002: Does Cost Sharing really Reduce Inappropriate Prescriptions?

Joan Costa-i-Font and Marin Gemmill-Toyama

3001: Banking and Debt Crisis in Europe: The Dangerous Liaisons?

Bertrand Candelon and Franz Palm

3000: Public Provision, Commodity Demand and Hours of Work: An Empirical Analysis

Jukka Pirttilä and Ilpo Suoniemi

2999: Nineteenth Century Stature and Family Size: Binding Constraint or Productive Labor Force?

Scott A. Carson

2998: What Should we Expect from Innovation? A Model-Based Assessment of the Environmental and Mitigation Cost Implications of Climate-Related R&D

Valentina Bosetti, Carlo Carraro, Romain Duval and Massimo Tavoni

2997: A Comparison of Optimal Tax Policies when Compensation or Responsibility Matter

Laurence Jacquet and Dirk Van de gaer

2996: Do More Effective Teachers Earn More Outside of the Classroom?

Matthew M. Chingos and Martin R. West

2995: The Quantity Theory of Money: An Assessment of its Real Linchpin Prediction

Claude Hillinger and Bernd Süßmuth

2994: Effects of Prenatal and Early Life Malnutrition: Evidence from the Greek Famine

Sven Neelsen and Thomas Stratmann

2993: The Costs of Favoritism: Is Politically-driven Aid less Effective?

Axel Dreher, Stephan Klasen, James Vreeland and Eric Werker

2992: Buy Coal! Deposit Markets Prevent Carbon Leakage

Bård Harstad

2991: Migration and the Welfare State: Dynamic Political-Economy Theory

Assaf Razin, Efraim Sadka and Benjarong Suwankiri

2990: A Simple Model of Service Offshoring with Time Zone Differences

Toru Kikuchi and Ngo Long

2989: Family Location and Caregiving Patterns from an International Perspective

Helmut Rainer and Thomas Siedler

2988: The Optimal Climate Policy Portfolio when Knowledge Spills across Sectors

Emanuele Massetti and Lea Nicita

2987: The Trend of BMI Values among US Adults

John Komlos and Marek Brabec

2986: The Choice of Environmental Policy Instruments: Energy Efficiency and Redistribution

Alexander Haupt and Magdalena Stadejek

2985: Profit Shifting by Debt Financing in Europe

Francesca Barion, Raffaele Miniaci, Paolo Panteghini and Maria Laura Parisi

2984: Well-being Inequality and Reference Groups - An Agenda for New Research

Bernard M.S. Van Praag and Bernard M.S. van Praag

2983: Why Does Height Matter for Educational Attainment? Evidence from German Pre-Teen Children

Francesco Cinnirella, Marc Piopiunik and Joachim Winter

2982: Efficient Subsidization of Human Capital Accumulation with Overlapping Generations and Endogenous Growth

Wolfram Richter and Christoph Braun

2981: Rapacious Resource Depletion, Excessive Investment and Insecure Property Rights

Frederick (Rick) van der Ploeg

2980: What is the Best Environmental Policy? Taxes, Permits and Rules under Economic and Environmental Uncertainty

Konstantinos Angelopoulos, George Economides and Apostolis Philippopoulos

2979: Incentives, Reputation and the Allocation of Authority

Florian Englmaier, Ales Filipi and Ravi Singh

2978: Stock Market Integration between three CEECs, Russia and the UK

Guglielmo Maria Caporale and Nicola Spagnolo

2977: Optimum Taxation of Bequests in a Model with Initial Wealth

Johann Brunner and Susanne Pech

2976: Do Governments Tax Agglomeration Rents?

Hyun-Ju Koh and Nadine Riedel

2975: Investment, Resolution of Risk, and the Role of Affect

Frans van Winden, Michal Krawczyk and Astrid Hopfensitz

2974: Asymmetry in Volatility: A Comparison of Developed and Transition Stock Markets

Piotr Wdowiński and Marta Malecka

2973: Informal Benchmarks as a Source of Regulatory Threat in Unregulated Utility Sectors

Magnus Söderberg

2972: Modeling Russia for Climate Change Issues

Ali Bayar, Frederic Dramais, Cristina Mohora, Masudi Opese and Bram Smeets

2971: Application of Regionally Varying Additionality Degrees in the Practice of EU Cohesion Policy

Chang Woon Nam and Georg Wamser

2970: Taxing Children: The Re-distributive Role of Child Benefits - Revisited

Tomer Blumkin, Yoram Margalioth and Efraim Sadka

2969: Efficient Education Policy - A Second-Order Elasticity Rule

Wolfram Richter

2968: A Note on the Time Series Measure of Conservatism

Sebastian Brauer and Frank Westermann

2967: Autocratic Transitions and Growth

Tommaso Nannicini and Roberto Ricciuti

2966: Climate Change and Carbon Tax Expectations

Michael Hoel

2965: Age, Wage and Productivity

Jan C. van Ours, Lenny Stoeldraijer and Jan C. van Ours

2964: Incentive Regulation, Investments and Technological Change

Ingo Vogelsang

2963: Is There Really a Green Paradox?

Frederick (Rick) van der Ploeg and Cees Withagen

2962: The Dynamics of Climate Agreements

Bård Harstad

2961: Dialects, Cultural Identity, and Economic Exchange

Oliver Falck, Stephan Heblich, Alfred Lameli and Jens Suedekum

2960: Biofuels Subsidies and the Green Paradox

R. Quentin Grafton, Tom Kompas and Ngo Long

2959: Beyond the Classroom: Using Title IX to Measure the Return to High School Sports

Betsey Stevenson

2958: How do Electoral Systems Affect Fiscal Policy? Evidence from State and Local Governments, 1890 to 2005

Patricia Funk and Christina Gathmann

2957: From Politics to the Family: How Sex-Role Attitudes Keep on Diverging in Reunified Germany

Stefan Bauernschuster and Helmut Rainer

2956: The Optimal Babel - An Economic Framework for the Analysis of Dynamic Language Rights

Bengt-Arne Wickström