CEPR Discussion Papers

From Centre for Economic Policy Research
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11533: A comedy of errors: misguided policy, mis-sold mortgages, and more

Marcus Miller, Lei Zhang and Songklod Rastapana

11532: Why Do Estimates of the EMU Effect On Trade Vary so Much?

Andrew Rose

11531: The Booms and Busts of Beta Arbitrage

Christopher Polk, Dong Lou and Shiyang Huang

11530: Mainstreaming an Effective Intervention: Evidence from Randomized Evaluations of “Teaching at the Right Level†in India

Esther Duflo, Abhijit Banerjee, Rukmini Banerji, James Berry, Shobhini Mukerji, Marc Shotland, Michael Walton and Harini Kannan

11529: Ranking Languages in the European Union:Before and after Brexit

Shlomo Weber, Victor Ginsburgh and Juan Moreno-Tenero

11528: A simple characterization of the family of diversity indices

Shlomo Weber and Denis Davydov

11527: Valence influence in electoral competition with rank objectives

Shlomo Weber, Alexander Shapoval and Zakharov Alexei

11526: Immigration Policies, Labor Complementarities, Population Size and Cultural Frictions: Theory and Evidence

Shlomo Weber and Thomas Osang

11525: Environmental awareness: The case of climate change

Shlomo Weber and Hans Wiesmeth

11524: Spain’s Historical National Accounts: Expenditure and Output, 1850-2015

Leandro Prados de la Escosura

11523: Borrowing Requirements, Credit Access, and Adverse Selection: Evidence from Kenya

Michael Kremer, William Jack, Joost de Laat and Tavneet Suri

11522: Saving Alberta’s Resource Revenues: Role of Intergenerational and Liquidity Funds

Frederick (Rick) van der Ploeg and ,

11521: Growth expectations, undue optimism, and short-run fluctuations

Müller, Gernot, Zeno Enders and Michael Kleemann

11520: MACRO POLICY RESPONSES TO NATURAL RESOURCE WINDFALLS AND THE CRASH IN COMMODITY PRICES

Frederick (Rick) van der Ploeg

11519: Housing and macroeconomics

Martin Schneider and Monika Piazzesi

11518: Taking Orders and Taking Notes: Dealer Information Sharing in Treasury Markets

Laura Veldkamp, Nina Boyarchenko and David Lucca

11517: Narrative Sign Restrictions for SVARs

Rubio-Ramírez, Juan Francisco and Juan Antolin-Diaz

11516: Reading Between the Lines: Prediction of Political Violence Using Newspaper Text

Hannes Mueller and Christopher Rauh

11515: Effect of a micro entrepreneur-based community health delivery program on under-five mortality in Uganda: a cluster-randomized

Björkman Nyqvist, Martina, Jakob Svensson, Andrea Guariso and David Yanagizawa-Drott

11514: Women ask for less (only from men): Evidence from alternating-offer bargaining in the field

Nagore Iriberri

11513: Reputation with Opportunities for Coasting

Heski Bar-Isaac and Joyee Deb

11512: Patent Pools in Input Markets

Emanuele Tarantino and Markus Reisinger

11511: Importing Political Polarization? The Electoral Consequences of Rising Trade Exposure

David Dorn, David Autor, Gordon Hanson and Kaveh Majlesi

11510: Non-Precautionary Cash Hoarding and the Evolution of Growth Firms

Arnoud Boot and Vladimir Vladimirov

11509: Product Switching and the Business Cycle

Andrew Bernard and Toshihiro Okubo

11508: Non-rating revenue and conflicts of interest

Bo Becker and Ramin Baghai

11507: Wolf Pack Activism

Amil Dasgupta, Alon Brav and Richmond Mathews

11506: Better, Faster, Stronger: Global Innovation and Trade Liberalization

Karen Helene Ulltveit-Moe, Andreas Moxnes and Federica Coelli

11504: Once Bitten, Twice Shy: The Role of Inertia and Personal Experiences in Risk Taking

Steffen Andersen, Tobin Hanspal and Kasper Meisner Nielsen

11503: Real Interest Rates, Imbalances and the Curse of Regional Safe Asset Providers at the Zero Lower Bound

Helene Rey and Pierre-Olivier Gourinchas

11502: Banks Interconnectivity and Leverage

Vincenzo Quadrini, Alessandro Barattieri and Laura Moretti

11501: What Are Uncertainty Shocks?

Laura Veldkamp, Nicholas Kozeniauskas and Anna Orlik

11500: Quantitative Spatial Economics

Stephen Redding and Esteban Rossi-Hansberg

11499: Country Portfolios, Collateral Constraints and Optimal Monetary Policy

Alan Sutherland and Ozge Senay

11498: Exchange Rate Behavior with Negative Interest Rates: Some Early Negative Observations

Andrew Rose and Allaudeen Hameed

11497: Nonlinear Tax Incidence and Optimal Taxation in General Equilibrium

Dominik Sachs, Aleh Tsyvinski and Nicolas Werquin

11496: Malaria Risk and Civil Violence

Uwe Sunde, Matteo Cervellati, Elena Esposito and Simona Valmori

11495: Multinational firms and tax havens

Monika Schnitzer, James Hines and Anna Gumpert

11494: Preferential Liberalization, Antidumping, and Safeguards: Stumbling Block Evidence from MERCOSUR

Chad Bown and Patricia Tovar

11493: Competitive Pressure Widens the Gender Gap in Performance: Evidence from a Two-Stage Competition in Mathematics

Nagore Iriberri and Pedro Rey Biel

11492: Coalition Preclusion Contracts and Moderate Policies

Hans Gersbach, Oriol Tejada and Maik Schneider

11491: The Effects of the Early Retirement Age on Retirement Decisions

Andrea Weber and Dayanand Manoli

11490: Born with a silver spoon? Danish evidence on wealth inequality in childhood

Wojciech Kopczuk, Simon Boserup and Claus Kreiner

11489: Local Crowding Out in China

Ugo Panizza, Marco Pagano and Yi Huang

11488: Second-degree price discrimination by a two-sided monopoly platform

Doh-Shin Jeon, Domenico Menicucci and Byung-Cheol Kim

11487: The Effects of Pharmaceutical Innovation on Cancer Mortality

Margaret Kyle and Pierre Dubois

11486: Land Inequality, Education, and Marriage: Empirical Evidence from Nineteenth-Century Prussia

Francesco Cinnirella and Erik Hornung

11485: Informal Labor and the Efficiency Cost of Social Programs: Evidence from the Brazilian Unemployment Insurance Program

Francois Gerard and Gustavo Gonzaga

11484: A Leverage Theory of Tying in Two-Sided Markets

Doh-Shin Jeon and Jay Choi

11483: Hours Worked in Europe and the US: New Data, New Answers

Fuchs-Schündeln, Nicola, Alexander Bick and Brüggemann, Bettina

11482: Fiscal Federalism, Taxation and Grants

, and Martin Gonzalez-Eiras

11481: Liquidity Runs

Enrico Perotti and Rafael Matta

11480: Overcoming Salience Bias: How Real-Time Feedback Fosters Resource Conservation

Lorenz Goette, Verena Tiefenbeck, Kathrin Degen, Elgar Fleisch, Vojkan Tasic, Rafael Lalive and Thorsten Staake

11479: Life-Cycle Consumption Patterns at Older Ages in the US and the UK: Can Medical Expenditures Explain the Difference?

Richard Blundell, James Banks, Peter Levell and James Smith

11478: Optimal Illusion of Control and Related Perception Biases

Jakub Steiner and Olivier Gossner

11477: Non-equilibrium Play in Centipede Games

Nagore Iriberri, Jaromír Kovářík and Bernardo Garcia-Pola

11476: Investor-Stock Decoupling in Mutual Funds

Massimo Massa, Miguel Ferreira and Pedro Pinto Matos

11475: The Impact of Sin Culture: Evidence from Earning Management and Alcohol Consumption in China

Massimo Massa, Zhe Li, Niahang Xu and Hong Zhang

11474: Culture vs. Bias: Can Social Trust Mitigate the Disposition Effect?

Massimo Massa, Jennifer Li and Hong Zhang

11473: Adjusting to The Information Environment: News Tangibility and Mutual Fund Performance

Massimo Massa, Oleg Chuprinin and Gaspar, Sérgio

11472: When is Good News Not Good News? Opening Up the Black Box of Innovation for Family Firms

Massimo Massa, Po-Hsuan Hsu, Sterling Huang and Hong Zhang

11471: Who is afraid of BlackRock?

Massimo Massa, David Schumacher and Yan Wang

11470: Busted! Now What? Effects of Cartel Enforcement on Firm Value and Corporate Policies

Massimo Massa, Aileen Dong and Alminas Zaldokas

11469: A Dynamic Equilibrium Model of ETFs

Semyon Malamud

11468: Market Integration and Global Crashes

Semyon Malamud and Aytek Malkhozov

11467: Reflections on the natural rate of interest, its measurement, monetary policy and the zero lower bound

Alex Cukierman

11466: Dynamic Leverage Asset Pricing

Tobias Adrian, , and Hyun Song Shin

11465: The Effect of Gender-Targeted Conditional Cash Transfers on Household Expenditures: Evidence from a Randomized Experiment

Orazio Attanasio, Alex Armand, Pedro Carneiro and Lechene, Valérie

11464: Gender and Agency within the Household: Experimental Evidence from Pakistan

Marcel Fafchamps, Farah Said and Giovanna d Adda

11463: The Marginal Voter's Curse

Aniol Llorente-Saguer, Helios Herrera and Joseph McMurray

11462: The Economic Impact of Universities: Evidence from Across the Globe

John van Reenen and Anna Valero

11461: New Methods for Macro-Financial Model Comparison and Policy Analysis

Volker Wieland, Elena Afanasyeva, Meguy Kuete and Jinhyuk Yoo

11460: What makes governments popular?

Sergei Guriev and Daniel Treisman

11459: The Political Economy of Debt and Entitlements

Alessandro Lizzeri, Laurent Bouton and Nicola Persico

11458: Does Mass Deworming Affect Child Nutrition? Meta-analysis, Cost-Effectiveness, and Statistical Power

Michael Kremer, Edward Miguel, Kevin Croke, Joan Hamory Hicks and Eric Hsu

11457: A Model of Biased Intermediation

Alexandre de Cornière, and Greg Taylor

11456: Intergenerational wealth mobility and the role of inheritance: Evidence from multiple generations

Daniel Waldenström, Adrian Adermon and Mikael Lindahl

11455: Expected skewness and momentum

Martin Weber, Tobias Regele and Heiko Jacobs

11454: Multinational Firms and International Business Cycle Transmission

Andrei Levchenko and Javier Cravino

11453: Understanding Bank Payouts during the Crisis of 2007-2009

Lóránth, Gyöngyi, Christian Laux and Peter Cziraki

11452: Networks: An economic perspective

Yves Zenou, Matthew Jackson and Brian Rogers

11451: Can Countries Rely on Foreign Saving for Investment and Economic Development?

Ugo Panizza, Eduardo Cavallo and Barry Eichengreen

11450: The Alma Mater Effect. Does Foreign Education of Political Leaders Influence Foreign Policy?

Axel Dreher and Shu Yu

11449: Monopolistic competition without apology

Jacques Thisse and Philip Ushchev

11448: Political Foundations of the Lender of Last Resort: A Global Historical Narrative

Luc Laeven, Charles Calomiris and Marc Flandreau

11447: Protocol Invariance and the Timing of Decisions in Dynamic Games

Ulrich Doraszelski and Juan Escobar

11446: Aspirations and the Political Economy of Inequality

Timothy Besley

11445: Israel and the 1990-2015 Global Developments: Riding with the Global Flows and Weathering the Storms

Assaf Razin and Steven Rosefielde

11444: The I Theory of Money

Markus Brunnermeier and Yuliy Sannikov

11443: Information transmission and ownership consolidation in aid programs

Axel Dreher, Sarah Langlotz and Silvia Marchesi

11442: Blockholders: A Survey of Theory and Evidence

Alex Edmans and Clifford Holderness

11441: Choice and Competition in Public Service Provision

Timothy Besley and James Malcomson

11440: Eigenvalue Ratio Estimators for the Number of Common Factors

Mario Forni, Maddalena Cavicchioli, Marco Lippi and Paolo Zaffaroni

11439: Distinctively Different: A New Approach to Valuing Architectural Amenities

Gabriel Ahlfeldt and Nancy Holman

11438: Subsidies and Myopia in Technology Adoption: Evidence from Solar Photovoltaic Systems

Frank Verboven and Olivier De Groote

11437: Marketmaking Middlemen

Pieter Gautier, Bo Hu and Makoto Watanabe

11436: Labor Supply Shocks, Native Wages, and the Adjustment of Local Employment

Christian Dustmann, Uta Schonberg and Jan Stuhler

11435: Income Distribution and Aggregate Saving: A Non-Monotonic Relationship

Peter Bofinger and Philipp Scheuermeyer

11434: Does Rosie Like Riveting? Male and Female Occupational Choices

Jorn-Steffen Pischke and Grace Lordan

11433: Negative Interest Rate Policies: Sources and Implications

Ayhan Kose, Carlos Arteta, Marc Stocker and Temel Taskin