CESifo Working Paper Series

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1855: The Effects of Partisan Alignment on the Allocation of Intergovernmental Transfers. Differences-in-Differences Estimates for Spain

Albert Solé-Ollé and Pilar Sorribas-Navarro

1854: The (After) Life-Cycle Theory of Religious Contributions

Stephen Blomberg, Thomas DeLeire and Gregory D. Hess

1853: Economic Integration and Redistributive Taxation: A Simple Model with Ambiguous Results

Andreas Haufler, Alexander Klemm and Guttorm Schjelderup

1852: Active Courts and Menu Contracts

Luca Anderlini, Leonardo Felli and Andrew Postlewaite

1851: Black Market and Official Exchange Rates: Long-Run Equilibrium and Short-Run Dynamics

Guglielmo Maria Caporale and Mario Cerrato

1850: ACE vs. CBIT: Which is Better for Investment and Welfare?

Doina Radulescu, Michael Stimmelmayr and Doina Maria Radulescu

1849: A Behavioral Finance Model of the Exchange Rate with Many Forecasting Rules

Paul De Grauwe and Pablo Rovira Kaltwasser

1848: Searching the eBay Marketplace

Katharina Sailer

1847: Should Courts always Enforce what Contracting Parties Write?

Luca Anderlini, Leonardo Felli and Andrew Postlewaite

1846: Preferential Tax Regimes with Asymmetric Countries

Sam Bucovetsky and Andreas Haufler

1845: Are Cardiovascular Diseases Bad for Economic Growth?

Marc Suhrcke and Dieter Urban

1844: Differentiated Annuities in a Pooling Equilibrium

Eytan Sheshinski

1843: Social Interaction and Urban Sprawl

Jan Brueckner and Ann G. Largey

1842: The Euro and Inflation Uncertainty in the European Monetary Union

Guglielmo Maria Caporale and Alexandros Kontonikas

1841: Taxation and Capital Structure Choice – Evidence from a Panel of German Multinationals

Thiess Büttner, Michael Overesch, Ulrich Schreiber and Georg Wamser

1840: Stability and Dynamics in an Overlapping Generations Economy under Flexible Wage Negotiation and Capital Accumulation

Erkki Koskela and Mikko Puhakka

1839: Trade, Conflicts, and Political Integration: the Regional Interplays

Vincent Vicard

1838: Voluntary Emission Reductions, Social Rewards, and Environmental Policy

Michael Rauscher

1837: The Effect of Direct Democracy on Income Redistribution: Evidence for Switzerland

Lars Feld, Justina A. V. Fischer and Gebhard Kirchgässner

1836: Catching-up and Credit Booms in Central and Eastern European EU Member States and Acceding Countries: An Interpretation within the New Neoclassical Synthesis Framework

Peter Backé and Cezary Wójcik

1835: Labor Contracts, Equal Treatment and Wage-Unemployment Dynamics

Andy Snell and Jonathan Thomas

1834: Optimal Income Taxation with a Risky Asset – The Triple Income Tax

Dirk Schindler

1833: Who’s Afraid of Foreign Aid? The Donors’ Perspective

Alberto Chong and Mark Gradstein

1832: Taxing Human Capital Efficiently: The Double Dividend of Taxing Non-qualified Labour more Heavily than Qualified Labour

Wolfram Richter

1831: Opt In Versus Opt Out: A Free-Entry Analysis of Privacy Policies

Jan Bouckaert and Hans Degryse

1830: Multilateral Investment Agreement in a Political Equilibrium

Dieter Urban

1829: Low Take-up Rates: The Role of Information

Momi Dahan and Udi Nisan

1828: Longevity and Aggregate Savings

Eytan Sheshinski

1827: Inequality and the US Import Demand Function

Margarita Katsimi and Thomas Moutos

1826: A Spatio-Temporal Model of House Prices in the US

Sean Holly, Mohammad Pesaran and Takashi Yamagata

1825: Reference Pricing of Pharmaceuticals

Kurt Brekke, Ingrid Königbauer and Odd Rune Straume

1824: A Psychological Game with Interdependent Preference Types

J. Atsu Amegashie

1823: Cross-Border Mergers & Acquisitions: The Facts as a Guide for International Economics

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

1822: Sustainable Social Spending in a Greying Economy with Stagnant Public Services: Baumol’s Cost Disease Revisited

Frederick (Rick) van der Ploeg

1821: Alcohol Taxation and Regulation in the European Union

Sijbren Cnossen

1820: Airport Noise Regulation, Airline Service Quality, and Social Welfare

Jan Brueckner and Raquel Girvin

1819: Labor Supply and the Demand for Child Care: An Intertemporal Approach

Junichi Minagawa and Thorsten Upmann

1818: Relativity in Trade Theory: Towards a Solution to the Mystery of Missing Trade

Eric Fisher and Sharon L. May

1817: The Impact of Thin-Capitalization Rules on Multinationals’ Financing and Investment Decisions

Thiess Büttner, Michael Overesch, Ulrich Schreiber and Georg Wamser

1816: Sustainability of Austrian Public Debt: A Political Economy Perspective

Gottfried Haber and Reinhard Neck

1815: Optimum Commodity Taxation in Pooling Equilibria

Eytan Sheshinski

1814: Are Migration Policies that Induce Skilled (Unskilled) Migration Beneficial (Harmful) for the Host Country?

Michael Michael

1813: Bank Behavior and the Cost Channel of Monetary Transmission

Oliver Hülsewig, Eric Mayer and Timo Wollmershäuser

1812: Noise vs. News in Equity Returns

Bob Chirinko and Hisham Foad

1811: Cointegration Tests of PPP: Do they also Exhibit Erratic Behaviour?

Guglielmo Maria Caporale and Christoph Hanck

1810: A Politico-Economic Analysis of Minimum Wages and Wage Subsidies

Antonis Adam and Thomas Moutos

1809: Trade in Northeast Asia: Why do Trade Costs Matter?

Prabir De

1808: Does Membership on the UN Security Council Influence IMF Decisions? Evidence from Panel Data

Axel Dreher, Jan-Egbert Sturm and James Vreeland

1807: Pareto-Improving Unemployment Policies

Jörg Lingens and Klaus Wälde

1806: Shadow Economies and Corruption all over the World: What do we really Know?

Friedrich Schneider

1805: United States Current Account Deficits: A Stochastic Optimal Control Analysis

Jerome L. Stein

1804: Does ECB Communication Help in Predicting its Interest Rate Decisions?

David-Jan Jansen, Jakob de Haan and Jakob de Haan

1803: The Impact of Referendums on the Centralisation of Public Goods Provision: A Political Economy Approach

Jan Schnellenbach, Lars Feld and Christoph A. Schaltegger

1802: Existence, Uniqueness and Some Comparative Statics for Ratio- and Lindahl Equilibria: New Wine in Old Bottles

Wolfgang Buchholz, Richard Cornes and Wolfgang Peters

1801: The Equity Trap, the Cost of Capital and the Firm’s Growth Path

Tobias Lindhe and Jan Södersten

1800: Do Slotting Allowances Harm Retail Competition?

Øystein Foros and Hans Jarle Kind

1799: Estate Taxation with Both Accidental and Planned Bequests

Pierre Pestieau and Motohiro Sato

1798: Political Polarization and the Electoral Effects of Media Bias

Dan Bernhardt, Stefan Krasa and Mattias K Polborn

1797: Why do Low- and High-Skill Workers Migrate? Flow Evidence from France

Dominique Gross and Nicolas Schmitt

1796: A Good Sign for Multivariate Risk Taking

Louis Eeckhoudt, Beatrice Rey and Harris Schlesinger

1795: Reforming the Taxation of Multijurisdictional Enterprises in Europe, a Tentative Appraisal

Marcel Gerard

1794: Institution Formation in Public Goods Games

Michael Kosfeld, Akira Okada and Arno Riedl

1793: Can Capital Income Taxes Survive? And Should They?

Peter Birch Sørensen

1792: Mind the Gap? Estimating the Effects of Postponing Higher Education

Bertil Holmlund, Qian Liu and Oskar Nordström Skans

1791: Time Consistency and Bureaucratic Budget Competition

Sebastian Kessing and Kai Konrad

1790: Recent Regional Agreements: Why so many, why so much Variance in Form, why Coming so fast, and where are they Headed?

John Whalley

1789: Increasing Longevity and Social Security Reforms

Torben Andersen

1788: Panels with Nonstationary Multifactor Error Structures

George Kapetanios, Mohammad Pesaran and Takashi Yamagata

1787: Social Interactions and Schooling Decisions

Rafael Lalive and Alejandra Cattaneo

1786: Formal Contracts, Relational Contracts, and the Holdup Problem

Hideshi Itoh and Hodaka Morita

1785: Why have Corporate Tax Revenues Declined? Another Look

Alan Auerbach

1784: A Simple Explanation for the Unfavorable Tax Treatment of Investment Costs

Paolo Panteghini

1783: Has EMU had any Impact on the Degree of Wage Restraint?

Adam Posen and Daniel Popov Gould

1782: The Chopstick Auction: A Study of the Exposure Problem in Multi-Unit Auctions

Florian Englmaier, Pablo Guillen, Loreto Llorente, Sander Onderstal and Rupert Sausgruber

1781: Corporate and Personal Income Tax Declarations

Laszlo Goerke

1780: Growth, Longevity and Public Policy

Gregory Ponthiere

1779: Efficiency and Equity of European Education and Training Policies

Ludger Woessmann

1778: How Reasonable is the ‘Reasonable’ Royalty Rate? Damage Rules and Probabilistic Intellectual Property Rights

Jay Choi

1777: The Transitional Dynamics of Fiscal Policy in Small Open Economies

Ben J. Heijdra and Jenny Ligthart

1776: Two-Sided Markets with Pecuniary and Participation Externalities

Richard Schmidtke

1775: Living Standards in Black and White: Evidence from the Heights of Ohio Prison Inmates, 1829 – 1913

Scott A. Carson and Thomas Maloney

1774: The Measurement of Firm Ownership and its Effect on Managerial Pay

Jeremy Edwards, Wolfgang Eggert, Alfons J. Weichenrieder and Alfons Weichenrieder

1773: Corporate Taxation and Multinational Activity

Peter Egger, Simon Loretz, Michael Pfaffermayr and Hannes Winner

1772: Is there a Social Security Tax Wedge?

Alessandro Cigno

1771: Financial Liberalization in a Small Open Economy

Juergen von Hagen and Haiping Zhang

1770: Testing Dependence among Serially Correlated Multi-category Variables

Mohammad Pesaran and Allan Timmermann

1769: Geography Rules Too! Economic Development and the Geography of Institutions

Maarten Bosker and Harry Garretsen

1768: Individual Attitudes towards Immigrants: Welfare-State Determinants across Countries

Giovanni Facchini and Anna Maria Mayda

1767: EMU Enlargement, Policy Uncertainty and Economic Reforms

Carsten Hefeker

1766: Japanese Foreign Exchange Intervention and the Yen/Dollar Exchange Rate: A Simultaneous Equations Approach Using Realized Volatility

Eric Hillebrand, Gunther Schnabl and Yasemin Ulu

1765: How do Extended Benefits Affect Unemployment Duration? A Regression Discontinuity Approach

Rafael Lalive

1764: Fixed Transport Costs and International Trade

Didier Laussel and Raymond Riezman

1763: Business Groups in Emerging Markets – Financial Control and Sequential Investment

Christa Hainz

1762: Status-Seeking in Criminal Subcultures and the Double Dividend of Zero-Tolerance

Robert Dur

1761: Catching-up, Inflation Differentials and Credit Booms in a Heterogeneous Monetary Union: Some Implications for EMU and new EU Member States

Ronald MacDonald and Cezary Wójcik

1760: Steepest Ascent Tariff Reforms

Pascalis Raimondos and Alan Woodland

1759: Intergenerational Risk Sharing by Means of Pay-as-you-go Programs – an Investigation of Alternative Mechanisms

Øystein Thøgersen

1758: Tax Avoidance, Endogenous Social Norms, and the Comparison Income Effect

Alessandro Balestrino

1757: Intentions and Social Interactions

J. Atsu Amegashie

1756: Private Provision of a Complementary Public Good

Richard Schmidtke