CESifo Working Paper Series

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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

2291: The Value of a Statistical Life under Ambiguity Aversion

Nicolas Treich

2290: A Two-Country NATREX Model for the Euro/Dollar

Marianna Belloc and Daniela Federici

2289: Do Surveillance Cameras Affect Unruly Behavior? A Close Look at Grandstands

Mikael Priks

2288: Off-Shoring and Productivity Growth in the Italian Manufacturing Industries

Francesco Daveri and Cecilia Jona-Lasinio

2287: Cost and Benefit of Apprenticeship Training – A Comparison of Germany and Switzerland

Regina Dionisius, Samuel Muehlemann, Harald Pfeifer, Günter Walden, Felix Wenzelmann and Stefan Wolter

2286: Lender of Last Resort and Bank Closure Policy

Xavier Freixas and Bruno Maria Parigi

2285: Does Membership in International Organizations Increase Governments’ Credibility? Testing the Effects of Delegating Powers

Axel Dreher and Stefan Voigt

2284: Institutions and Contract Enforcement

Armin Falk, David Huffman and W. Bentley Macleod

2283: Qualifying Religion: The Role of Plural Identities for Educational Production

Timo Boppart, Josef Falkinger, Volker Grossmann, Ulrich Woitek and Gabriela Wüthrich

2282: Modeling International Trade Flows between CEEC and OECD Countries

Christophe Rault, Robert Sova and Ana Maria Sova

2281: A VECX Model of the Swiss Economy

Katrin Assenmacher and Mohammad Pesaran

2280: The Political Economy of Regional Integration Projects at Borders where Rich and Poor Meet: The Role of Cross-Border Shopping and Community Sorting

Kristof Dascher and Alexander Haupt

2279: Integrating with their Feet: Cross-Border Lending at the German-Austrian Border

Jarko Fidrmuc and Christa Hainz

2278: Value Function Iteration as a Solution Method for the Ramsey Model

Burkhard Heer and Alfred Maussner

2277: Is Prescott Right? Welfare State Policies and the Incentives to Work, Learn and Retire

Bas Jacobs

2276: Integrated Reforms of Indirect Taxes in the Presence of Pollution

Michael Michael, Sajal Lahiri and Panos Hatzipanayotou

2275: Deviations from the Law of One Price in Japan

Yin-Wong Cheung and Eiji Fujii

2274: Too many Cooks? Committees in Monetary Policy

Helge Berger and Volker Nitsch

2273: Shifts in Organizational Form under a Dual Income Tax System

Thor Thoresen and Annette Alstadsæter

2272: The Undisclosed Renminbi Basket: Are the Markets Telling us something about where the Renminbi – US Dollar Exchange Rate is Going?

Michael Funke and Marc Gronwald

2271: Scylla and Charybdis. Explaining Europe’s Exit from Gold, January 1928 – December 1936

Nikolaus Wolf

2270: How Social Reputation Networks Interact with Competition in Anonymous Online Trading: An Experimental Study

Gary Bolton, Claudia Loebbecke and Axel Ockenfels

2269: Outsourcing and Optimal Nonlinear Taxation: A Note

Thomas Aronsson and Erkki Koskela

2268: Cyclical Fiscal Policy, Output Volatility, and Economic Growth

Harald Badinger

2267: The Role of Workfare in Striking a Balance between Incentives and Insurance in the Labour Market

Torben Andersen and Michael Svarer

2266: Platform Intermediation in a Market for Differentiated Products

Andrea Galeotti and José Luis Moraga Gonzales

2265: The Irreversibility Premium

Bob Chirinko and Huntley Schaller

2264: Entrepreneurial Innovation and Sustained Long-run Growth without Weak or Strong Scale Effects

Volker Grossmann

2263: Forecasting Economic and Financial Variables with Global VARs

Mohammad Pesaran, Til Schuermann and L. Vanessa Smith

2262: Efficiency Enhancing Taxation in Two-sided Markets

Hans Jarle Kind, Marko Köthenbürger and Guttorm Schjelderup

2261: The Paradoxes of Revenge in Conflicts

J. Atsu Amegashie and Marco Runkel

2260: Property Insurance, Portfolio Selection and their Interdependence

Fwu-Ranq Chang

2259: Geography vs. Institutions at the Village Level

Michael Grimm and Stephan Klasen

2258: The Impact of Continuous Training on a Firm’s Innovations

Stefan Bauernschuster, Oliver Falck and Stephan Heblich

2257: The Regulatory Response to the Financial Crisis

Charles A. E. Goodhart

2256: Health, Wealth and Inequality: a Contribution to the Debate about the Relationship between Inequality and Health

Scott A. Carson

2255: Purchasing Power Parity for Developing and Developed Countries. What can we Learn from Non-Stationary Panel Data Models?

Imed Drine and Christophe Rault

2254: Contract Enforcement, Institutions and Social Capital: the Maghribi Traders Reappraised

Jeremy Edwards and Sheilagh Ogilvie

2253: Development-Related Biases in Factor Productivities and the HOV Model of Trade

Keith Maskus and Shuichiro Nishioka

2252: Labor Turnover before Plant Closure: ‘Leaving the Sinking Ship’ vs. ‘Captain Throwing Ballast Overboard’

Guido Schwerdt

2251: The Stress of Having a Single Monetary Policy in Europe

Jan-Egbert Sturm and Timo Wollmershäuser

2250: Optimal Taxation of Human Capital and the Earnings Function

Bas Jacobs and Lans Bovenberg

2249: Socio-Political Conflict and Economic Performance in Bolivia

Jose-Luis Evia, Roberto Laserna and Stergios Skaperdas

2248: Why not in your Backyard? On the Location and Size of a Public Facility

Giorgio Bellettini and Hubert Kempf

2247: Tax Competition – Greenfield Investment versus Mergers and Acquisitions

Johannes Becker and Clemens Fuest

2246: Endogenous Borders? The Effects of New Borders on Trade in Central Europe 1885-1933

Hans Heinemeyer, Max-Stephan Schulze and Nikolaus Wolf

2245: Power over Prosecutors Corrupts Politicians: Cross Country Evidence Using a New Indicator

Anne van Aaken, Lars Feld and Stefan Voigt

2244: Adjustment Costs, Inventories and Output

Leif Danziger

2243: Large-Scale Disasters and the Insurance Industry

Walter Kraemer and Sebastian Schich

2242: Entrepreneurship, Organization Capital and the Evolution of the Firm

Atsushi Oshima, B Ravikumar and Raymond Riezman

2241: Does Laboratory Trading Mirror Behavior in Real World Markets? Fair Bargaining and Competitive Bidding on EBay

Gary Bolton and Axel Ockenfels

2240: Productivity and the Decision to Import and Export: Theory and Evidence

Hiroyuki Kasahara and Beverly Lapham

2239: Market Structure and Market Access

Joseph Francois and Ian Wooton

2238: Private Retirement Savings in Germany: The Structure of Tax Incentives and Annuitization

Hans Fehr and Christian Habermann

2237: Reputation, Price, and Death: An Empirical Analysis of Art Price Formation

Heinrich Ursprung and Christian Wiermann

2236: The Scope of Cooperation: Values and Incentives

Guido Tabellini

2235: Should Continued Family Firms Face Lower Taxes than other Estates?

Holger Strulik and Volker Grossmann

2234: ó: The Long And Short Of It

Bob Chirinko

2233: Effective Taxation of Top Incomes in Germany, 1992-2002

Stefan Bach, Giacomo Corneo and Viktor Steiner

2232: Offshoring: Why Do Stories Differ?

Wilhelm Kohler

2231: Model Averaging in Risk Management with an Application to Futures Markets

Mohammad Pesaran, Christoph Schleicher and Paolo Zaffaroni

2230: Discounting and Welfare Analysis Over Time: Choosing the ç

Jan Schumacher and Wolfgang Buchholz

2229: Geography and Insolation in 19th Century US African-American and White Statures

Scott A. Carson

2228: Fiscal Shocks and Real Exchange Rate Dynamics: Some Evidence for Latin America

Guglielmo Maria Caporale, Davide Ciferri and Alessandro Girardi

2227: Market Structure, Technological Gap and Vertical Linkage Effects from Foreign Direct Investment

Sergey Kadochnikov and Igor Drapkin

2226: What do we really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic

Antonio Afonso and Christophe Rault

2225: Long Memory with Markov-Switching GARCH

Walter Kraemer

2224: Imitation and the Evolution of Walrasian Behavior: Theoretically Fragile but Behaviorally Robust

Jose Apesteguia, Steffen Huck, Jörg Oechssler and Simon Weidenholzer

2223: Young and Old Competing for Public Welfare Services

Lars-Erik Borge and Jorn Rattso

2222: Preference Bias and Outsourcing to Market: A Steady-State Analysis

Ping Wang and Raymond Riezman

2221: Automating Exchange Rate Target Zones: Intervention via an Electronic Limit Order Book

Michael Melvin, Lukas Menkhoff and Maik Schmeling

2220: A Tale of Two Debt Crises: A Stochastic Optimal Control Analysis

Jerome Stein

2219: Identification of New Keynesian Phillips Curves from a Global Perspective

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

2218: Global Trends in Numeracy 1820-1949 and its Implications for Long-Run Growth

Joerg Baten and Dorothee Crayen