CESifo Working Paper Series

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2423: The Welfare Loss from Differential Taxation of Sectors in Germany

Doina Radulescu, Michael Stimmelmayr and Doina Maria Radulescu

2422: Sharing Demographic Risk – Who is Afraid of the Baby Bust?

Alexander Ludwig and Michael Reiter

2421: Labour Market Institutions and their Effect on Labour Market Performance in the New EU Member Countries

Kamila Fialova and Ondrej Schneider

2420: Speculative Attacks: A Laboratory Study in Continuous Time

Yin-Wong Cheung and Daniel Friedman

2419: On the Bilateral Trade Effects of Free Trade Agreements between the EU-15 and the CEEC-4 Countries

Guglielmo Maria Caporale, Christophe Rault, Robert Sova and Ana Maria Sova

2418: Animal Spirits and Monetary Policy

Paul De Grauwe

2417: Modelling Economic Impacts of Alternative International Climate Policy Architectures. A Quantitative and Comparative Assessment of Architectures for Agreement

Valentina Bosetti, Carlo Carraro, Alessandra Sgobbi and Massimo Tavoni

2416: Organized Crime and Foreign Direct Investment: The Italian Case

Vittorio Daniele and Ugo Marani

2415: Contractual and Organizational Structure with Reciprocal Agents

Florian Englmaier and Stephen Leider

2414: Luther and the Girls: Religious Denomination and the Female Education Gap in 19th Century Prussia

Sascha Becker, Ludger Woessmann and Sascha O. Becker

2413: Labour Unions – To Unite or to Separate?

Thorsten Upmann

2412: Body Image and Food Disorders: Evidence from a Sample of European Women

Joan Costa-i-Font and Mireia Jofre-Bonet

2411: The Political Competition-Economic Performance Puzzle: Evidence from the OECD Countries and the Italian Regions

Fabio Padovano and Roberto Ricciuti

2410: Strategic Supply Function Competition with Private Information

Xavier Vives

2409: Native Welfare Losses from High Skilled Immigration

Alexander Kemnitz

2408: International Energy Technology Transfers for Climate Change Mitigation - What, who, how, why, when, where, how much … and the Implications for International Institutional Architecture

Thomas L. Brewer

2407: Stock Prices and Economic Fluctuations: A Markov Switching Structural Vector Autoregressive Analysis

Markku Lanne and Helmut Lütkepohl

2406: The Design of Political Institutions: Electoral Competition and the Choice of Ballot Access Restrictions in the United States

Marcus Drometer and Johannes Rincke

2405: Overconfidence in a Career-Concerns Setting

Leonidas de la Rosa

2404: Generalized Quadratic Revenue Functions

Robert Chambers, Rolf Färe, Shawna Grosskopf and Michael Vardanyan

2403: Delayed Action and Uncertain Targets. How Much Will Climate Policy Cost?

Valentina Bosetti, Carlo Carraro, Alessandra Sgobbi and Massimo Tavoni

2402: French CEO Compensations: What is the Cost of a Mandatory Upper Limit?

Fabienne Llense

2401: On Myopia as Rationale for Social Security

Torben Andersen and Joydeep Bhattacharya

2400: Elite Capture, Political Voice and Exclusion from Aid: An Experimental Study

Ben D'Exelle and Arno Riedl

2399: The Marginal Product of Capital: A Persistent International Puzzle

Bob Chirinko and Debdulal Mallick

2398: Charity Auctions for the Happy Few

Olivier Bos

2397: Illegal Trade in the Iranian Economy: Evidence from a Structural Model

Mohammad Reza Farzanegan

2396: Slotting Allowances and Manufacturers’ Retail Sales Effort

Øystein Foros, Hans Jarle Kind and Jan Sand

2395: Private Investment in Higher Education: Comparing Alternative Funding Schemes

Bernhard Eckwert and Itzhak Zilcha

2394: Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox

Betsey Stevenson and Justin Wolfers

2393: 3-Step Analysis of Public Finances Sustainability: the Case of the European Union

Antonio Afonso and Christophe Rault

2392: Corporations’ Choice of Tax Regime when Transition Costs are Small and Income Shifting Potential is Large

Annette Alstadsæter and Knut Wangen

2391: Financing Bologna, the Internationally Mobile Students in European Higher Education

Marcel Gerard

2390: Net Neutrality and Investment Incentives

Jay Choi and Byung-Cheol Kim

2389: Uncertainty and Fiscal Policy in an Asymmetric Monetary Union

Carsten Hefeker and Blandine Zimmer

2388: Changes in Risk and the Demand for Saving

Louis Eeckhoudt and Harris Schlesinger

2387: A High-Low Model of Daily Stock Price Ranges

Yan-Leung Cheung, Yin-Wong Cheung and Alan Wan

2386: China’s Exchange Rate Impasse and the Weak U.S. Dollar

Ronald McKinnon and Gunther Schnabl

2385: How Do Local Governments Decide on Public Policy in Fiscal Federalism? Tax vs. Expenditure Optimization

Marko Köthenbürger

2384: Corporate Tax Competition and the Decline of Public Investment

Pedro Gomes and Francois Pouget

2383: Does a Generous Welfare State Crowd out Student Achievement? Panel Data Evidence from International Student Tests

Torberg Falch and Justina A. V. Fischer

2382: Flexible Outsourcing, Profit Sharing and Equilibrium Unemployment

Erkki Koskela and Jan König

2381: Returns to Tenure or Seniority?

Ioan Sebastian Buhai, Miguel Portela, C. N. Teulings and Aico van Vuuren

2380: Subsidizing National Champions: An Evolutionary Perspective

Cécile Aubert, Oliver Falck and Stephan Heblich

2379: How Much Sunlight Does it Take to Disinfect a Boardroom? A Short History of Executive Compensation Regulation

Ian Dew-Becker

2378: The Non-Constant-Sum Colonel Blotto Game

Brian Roberson and Dmitriy Kvasov

2377: The Impact of Urbanization on CO2 Emissions: Evidence from Developing Countries

Inmaculada Martínez-Zarzoso

2376: The Role of the Annuity’s Value on the Decision (Not) to Annuitize: Evidence from a Large Policy Change

Monika Bütler, Stefan Staubli and Maria Grazia Zito

2375: Effects of Unilateral Climate Policy on Terms of Trade, Capital Accumulation, and Welfare in a World Economy

Karl Farmer, Birgit Bednar-Friedl and Andreas Rainer

2374: Reserve Price Formation in Online Auctions

Florian Englmaier and Arno Schmöller

2373: On International Equity Weights and National Decision Making on Climate Change

David Anthoff and Richard Tol

2372: Determinants of Cross-Border Bank Acquisitions in Transition Economies: A Latent Class Analysis

Tigran Poghosyan, Jakob de Haan and Jakob de Haan

2371: Forecasting Euro Area Real GDP: Optimal Pooling of Information

Oliver Hülsewig, Johannes Mayr and Timo Wollmershäuser

2370: The Information Content of KOF Indicators on Swiss Current Account Data Revisions

Jan Jacobs and Jan-Egbert Sturm

2369: Exit and Power in General Equilibrium

Hans Gersbach and Hans Haller

2368: Trade Unions Go Global!

Alejandro Donado and Klaus Wälde

2367: The Global Joint Distribution of Income and Health

Ximing Wu, Andreas Savvides and Thanasis Stengos

2366: (Post-)Materialist Attitudes and the Mix of Capital and Labour Taxation

Tobias König and Andreas Wagener

2365: The (Economic) Effects of Lay Participation in Courts – A Cross-Country Analysis

Stefan Voigt

2364: Fiscal Decentralization and Public Sector Efficiency: Evidence from OECD Countries

Antonis Adam, Manthos Delis and Pantelis Kammas

2363: Labor Income Taxation, Human Capital and Growth: The Role of Child Care

Alessandra Casarico and Alessandro Sommacal

2362: Financing Higher Education and Labor Mobility

Gabrielle Demange, Robert Fenge and Silke Uebelmesser

2361: A Permanent Income Version of the Relative Income Hypothesis

Francisco Alvarez-Cuadrado and Ngo Long

2360: Outsourcing of Unionized Firms and the Impacts of Labour Market Policy Reforms

Erkki Koskela and Ronnie Schöb

2359: Are the Baltic Countries Ready to Adopt the Euro? A Generalised Purchasing Power Parity Approach

Guglielmo Maria Caporale, Davide Ciferri and Alessandro Girardi

2358: Statute Law or Case Law?

Luca Anderlini, Leonardo Felli and Alessandro Riboni

2357: Discounting the Long-Distant Future: A Simple Explanation for the Weitzman-Gollier-Puzzle

Wolfgang Buchholz and Jan Schumacher

2356: GM Estimation of Higher-Order Spatial Autoregressive Processes in Cross-Section Models with Heteroskedastic Disturbances

Harald Badinger and Peter Egger

2355: A Test of the Law of Demand in a Virtual World: Exploring the Petri Dish Approach to Social Science

Edward Castronova

2354: Corruption, Seigniorage and Growth: Theory and Evidence

Keith Blackburn, Kyriakos Neanidis and M. Emranul Haque

2353: Alternative Social Security Systems and Growth

Michael Kaganovich and Itzhak Zilcha

2352: The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal

Francesco Menoncin and Paolo Panteghini

2351: Habit Formation and Labor Supply

Helmuth Cremer, Philippe De Donder, Darío Maldonado and Pierre Pestieau

2350: Contract Enforcement and Institutions among the Maghribi Traders: Refuting Edwards and Ogilvie

Avner Greif

2349: The Environmental and Macroeconomic Effects of Socially Responsible Investment

Lammertjan Dam and Ben Heijdra

2348: Insuring Educational Risk: Opportunities versus Income

Dirk Schindler and Benjamin Weigert

2347: On the Causes and Consequences of Divorce

Alessandro Balestrino, Cinzia Ciardi and Claudio Mammini

2346: Employment Protection: The Case of Limited Enforceability

Florian Baumann

2345: Yardstick Competition, Corruption, and Electoral Incentives

Ngo Long and Bodhisattva Sengupta

2344: Fairness, Trade, and Inequality

Hartmut Egger and Udo Kreickemeier

2343: Evolutionarily Stable Preferences in Contests

Wolfgang Leininger

2342: Asset Price Shocks, Real Expenditures, and Financial Structure: A Multi-Country Analysis

Bob Chirinko, Leo de Haan and Elmer Sterken

2341: Minimum Standards, Fixed Costs and Taxing Autonomy of Subnational Governments

Helmut Seitz

2340: The Effect of Extending the Duration of Eligibility in an Italian Labour Market Programme for Dismissed Workers

Adriano Paggiaro, Enrico Rettore and Ugo Trivellato

2339: Does Fertility Respond to Financial Incentives?

Guy Laroque and Bernard Salanié

2338: Tax Competition, Elastic Labor Supply, and Growth

Ulrich Hange

2337: The Leader as Catalyst – on Leadership and the Mechanics of Institutional Change

Sumon Majumdar and Sharun Mukand

2336: Markets for Information: Of Inefficient Firewalls and Efficient Monopolies

Antonio Cabrales and Piero Gottardi

2335: Does Partisan Alignment Affect the Electoral Reward of Intergovernmental Transfers?

Albert Solé-Ollé and Pilar Sorribas-Navarro

2334: Optimal Litigation Strategies with Signaling and Screening

Philippe Choné and Laurent Linnemer

2333: Outsourcing and Labor Taxation in Dual Labor Markets

Erkki Koskela and Panu Poutvaara

2332: “Every Catholic Child in a Catholic School”: Historical Resistance to State Schooling, Contemporary Private Competition, and Student Achievement across Countries

Martin R. West and Ludger Woessmann

2331: Social Identity and Voter Turnout

Avi Ben-Bassat and Momi Dahan

2330: Modelling Long-Run Trends and Cycles in Financial Time Series Data

Guglielmo Maria Caporale, Juncal Cuñado and Luis Gil-Alana

2329: Corporate Debt, Hybrid Securities and the Effective Tax Rate

Paolo Panteghini

2328: A Theory of Urban Squatting and Land-Tenure Formalization in Developing Countries

Jan Brueckner and Harris Selod

2327: Horizontal versus Vertical Interdependence in Multinational Activity

Harald Badinger and Peter Egger

2326: Optimal Asset Allocation with Factor Models for Large Portfolios

Mohammad Pesaran and Paolo Zaffaroni

2325: Forced Saving, Redistribution and Nonlinear Social Security Schemes

Helmuth Cremer, Philippe De Donder, Darío Maldonado and Pierre Pestieau

2324: Great Moderation at the Firm Level? Unconditional vs. Conditional Output Volatility

Claudia Buch, Jörg Döpke and Kerstin Stahn