CESifo Working Paper Series

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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

2323: Firms’ Ethics, Consumer Boycotts, and Signalling

Amihai Glazer, Vesa Kanniainen and Panu Poutvaara

2322: Testing the Pareto Efficiency of Household Resource Allocations

Patricia Apps and Ray Rees

2321: Subsidies for Intracity and Intercity Commuting

Rainald Borck and Matthias Wrede

2320: Corporate Income Taxation of Multinationals in a General Equilibrium Model

Thomas Eichner and Marco Runkel

2319: Optimum Taxation of Inheritances

Johann Brunner and Susanne Pech

2318: Macroeconomic Modeling when Agents are Imperfectly Informed

Paul De Grauwe

2317: Demographic Change and Public Sector Budgets in a Federal System

Michael Hofmann, Gerhard Kempkes and Helmut Seitz

2316: Restrictive Immigration Policy in Germany: Pains and Gains Foregone?

Gabriel Felbermayr, Wido Geis-Thöne, Wilhelm Kohler and Gabriel J. Felbermayr

2315: Demographic Change and Regional Labour Markets: The Case of Eastern Germany

Beate Henschel, Carsten Pohl and Marcel Thum

2314: Productive Government Expenditure and Economic Growth

Andreas Irmen and Johanna Kuehnel

2313: Bankruptcy: Is it enough to Forgive or must we also Forget?

Ronel Elul and Piero Gottardi

2312: Unionisation Triggers Tax Incentives to Attract Foreign Direct Investment

Andreas Haufler and Ferdinand Mittermaier

2311: Which Communities should be afraid of Mobility? The Effects of Agglomeration Economies on the Sensitivity of Firm Location to Local Taxes

Jordi Jofre-Monseny and Albert Solé-Ollé

2310: Dissipative Advertising Signals Quality even without Repeat Purchases

Laurent Linnemer

2309: Labour Taxation and Foreign Direct Investment

Peter Egger, Doina Radulescu and Doina Maria Radulescu

2308: Using Chebyshev Polynomials to Approximate Partial Differential Equations

Guglielmo Maria Caporale and Mario Cerrato

2307: The Intergenerational Transmission of Risk and Trust Attitudes

Thomas Dohmen, Armin Falk, David Huffman and Uwe Sunde

2306: Tax Neutrality: Illusion or Reality? The Case of Entrepreneurship

Vesa Kanniainen and Paolo Panteghini

2305: The Role of Stigma in the Design of Welfare Programs

Tomer Blumkin, Yoram Margalioth and Efraim Sadka

2304: The Political Economy of Post-Compulsory Education Policy with Endogenous Credit Constraints

Dan Anderberg and Alessandro Balestrino

2303: Public Provision of Private Goods and Nondistortionary Marginal Tax Rates

Sören Blomquist, Vidar Christiansen and Luca Micheletto

2302: Slot-Based Approaches to Airport Congestion Management

Jan Brueckner

2301: GM Estimation of Higher Order Spatial Autoregressive Processes in Panel Data Error Component Models

Harald Badinger and Peter Egger

2300: Interest Income Tax Evasion, the EU Savings Directive, and Capital Market Effects

Tina Klautke, Alfons J. Weichenrieder and Alfons Weichenrieder

2299: Does the Housing Market React to New Information on School Quality?

Jon Fiva and Lars Kirkebøen

2298: Reforming European Universities: Scope for an Evidence-Based Process

Reinhilde Veugelers and Frederick (Rick) van der Ploeg

2297: Taxing Sin Goods and Subsidizing Health Care

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

2296: Regional Origins of Employment Volatility: Evidence from German States

Claudia Buch and Martin Schlotter

2295: The Structure of the American Economy

Eric Fisher and Kathryn G. Marshall

2294: Unlocking the Value of Cross-Border Mergers and Acquisitions

Steven Brakman, Gus Garita, Harry Garretsen, Charles van Marrewijk and Charles van Marrewijk

2293: Forecasting Random Walks Under Drift Instability

Mohammad Pesaran and Andreas Pick

2292: Socially-Tolerable Discrimination

J. Atsu Amegashie