CEPR Discussion Papers

From Centre for Economic Policy Research
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11231: Does the Geographic Expansion of Banks Reduce Risk?

Luc Laeven, Ross Levine and Götz, Martin

11230: Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States

Luc Laeven, Giovanni Dell'ariccia and Gustavo Suarez

11229: ‘Flattening’ the Tax Evasion: Evidence from the Post-Communist Natural Experiment

Jan Hanousek, Tomáš Lichard and Karine Torosyan

11228: Bias against Novelty in Science: A Cautionary Tale for Users of Bibliometric Indicators

Reinhilde Veugelers, Jian Wang and Paula Stephan

11227: Term structures of asset prices and returns

Mikhail Chernov, David Backus and Nina Boyarchenko

11226: Estimating Border Effects: The Impact of Spatial Aggregation

Dennis Novy and Cletus Coughlin

11225: Is there an alternative way to avoid another eurozone crisis to the Five Presidents' Report?

Michael R. Wickens

11224: Robustness of Full Revelation in Multisender Cheap Talk

Margaret Meyer, Ines Moreno de Barreda and Julia Nafziger

11223: Incentive Compatible Advertising on a Social Network

Kfir Eliaz and Ran Spiegler

11222: A Theory of Crowdfunding - a mechanism design approach with demand uncertainty and moral hazard

Roland Strausz

11221: The Effects of Financial and Recognition Incentives Across Work Contexts: The Role of Meaning

Michael Kosfeld, Susanne Neckermann and Xiaolan Yang

11220: You Are Judged by the Company You Keep: Reputation Leverage in Vertically Related Markets

Martin Peitz and Jay Choi

11219: Comparing Retirement Wealth Trajectories on Both Sides of the Pond

Eric French, Richard Blundell, Rowena Crawford and Gemma Tetlow

11218: Assessment of Post-merger Coordinated Effects: Characterization by Simulations

Marc Ivaldi and Vicente Lagos

11217: Pollution Claim Settlements Reconsidered: Hidden Information and Bounded Payments

Patrick Schmitz and Goldlücke, Susanne

11216: The Empirical Landscape of Trade Policy

Chad Bown and Meredith Crowley

11215: The Management of Innovation: Experimental Evidence

Patrick Schmitz and David Kusterer

11214: Capital Requirements, Risk Shifting and the Mortgage Market

Tomasz Wieladek and Arzu Uluc

11213: Learning, Career Paths, and the Distribution of Wages

Esteban Rossi-Hansberg, Santiago Caicedo Soler and Robert Lucas

11212: Breaking into Tradables: urban form and urban function in a developing city

Anthony Venables

11211: Building the city: urban transition and institutional frictions

Anthony Venables, J. Vernon Henderson and Tanner Regan

11210: EU Structural Funds and Regional Income Convergence – A Sobering Experience

Christoph Schmidt, Timo Mitze and Philipp Breidenbach

11209: Social Mobility and Stability of Democracy: Re-evaluating De Tocqueville

Konstantin Sonin, Daron Acemoglu and Georgy Egorov

11208: U.S. capital gains and estate taxation: a status report and directions for a reform

Wojciech Kopczuk

11207: The value of incumbency in heterogeneous platforms

Crémer, Jacques and Gary Biglaiser

11206: Can there be a market for cheap-talk information? Some experimental evidence

Piero Gottardi, Meléndez-Jiménez, Miguel A. and Francesco Feri

11205: Dynamic Competition with Network Externalities: Why History Matters

Bruno Jullien, Hanna Halaburda and Yaron Yehezkel

11204: Monetary Policy and the Current Account: Theory and Evidence

Tomasz Wieladek, Hjortsø, Ida and Martin Weale

11203: Real-Time Forecasting for Monetary Policy Analysis: The Case of Sveriges Riksbank

Söderström, Ulf, Jens Iversen, Stefan Laséen and Henrik Lundvall

11202: The Welfare Effects of Vertical Integration in Multichannel Television Markets

Gregory Crawford, Ali Yurukoglu, Michael D. Whinston and Robin Lee

11201: What you don't know... Can't hurt you? A field experiment on relative performance feedback in higher education

Ghazala Azmat, Nagore Iriberri and Manuel Bagues

11200: Optimal Reserves in Financially Closed Economies

Olivier Jeanne and Damiano Sandri

11199: Clans, Guilds, and Markets: Apprenticeship Institutions and Growth in the Pre-Industrial Economy

Matthias Doepke, David de la Croix and Joel Mokyr

11198: Optimal Monetary Policy, Exchange Rate Misalignments and Incomplete Financial Markets

Alan Sutherland and Ozge Senay

11197: Animal Spirits in a Monetary Model

Roger Farmer

11196: The Theory of Unconventional Monetary Policy

Roger Farmer and Pawel Zabczyk

11195: The speed of the exchange rate pass-through

Andreas Fischer and Sauré, Philip

11194: Anomalous Trading Prior to Lehman Brothers' Failure

Thomas Gehrig and Marlene Haas

11193: Can Iron-Fortified Salt Control Anemia? Evidence from Two Experiments in Rural Bihar

Esther Duflo, Abhijit Banerjee and Sharon Barnhardt

11192: Employment protection and unemployment benefits: On technology adoption and job creation in a matching model

Kjell Lommerud, Steinar Vagstad and Odd Rune Straume

11191: Inheritance and wealth inequality: Evidence from population registers

Daniel Waldenström and Mikael Elinder

11190: Data Abundance and Asset Price Informativeness

Thierry Foucault and Jérôme Dugast

11189: The big trade-off between efficiency and equity - is it there?

Torben M Andersen and Jonas Maibom

11188: The Perception of Dependence and Investment Decisions

Martin Weber and Michael Ungeheuer

11187: MANAGEMENT PRACTICES, WORKFORCE SELECTION, AND PRODUCTIVITY

John van Reenen, Nicholas Bloom, Stefan Bender, David Card and Stefanie Wolter

11186: Illegal migration and consumption behavior of immigrant households

Francesco Fasani, Christian Dustmann and Biagio Speciale

11185: All’s Well that Ends Well? Resolving Iceland’s Failed Banks

Richard Portes, Eirikur Elis Thorlaksson and Fridrik Baldursson

11184: Revisiting Okun's relationship

Jan C. van Ours, Robert Dixon and Guay Lim

11183: The Educational Consequences of Language Proficiency for Young Children

Jan C. van Ours, Yuxin Yao and Asako Ohinata

11182: International Shocks and Domestic Prices: How Large Are Strategic Complementarities?

Jozef Konings, Mary Amiti and Oleg Itskhoki

11181: Union Debt Management

Elisa Faraglia, Rigas Oikonomou and Equiza-Goñi, Juan

11180: Dynamic Debt Deleveraging and Optimal Monetary Policy

Pierpaolo Benigno, Federica Romei and Gauti Eggertsson

11179: Optimal Cost Overruns: Procurement Auctions and Renegotiation

Fabian Herweg and Marco Schwarz

11178: VAR Information and the Empirical Validation of DSGE Models

Mario Forni, Luca Gambetti and Luca Sala

11177: Field-of-Study Homogamy

Stepan Jurajda and BiÄ Ã¡ková, Alena

11176: Does gender-balancing the board reduce firm value?

Karin Thorburn, Bjorn Eckbo and Knut Nygaard

11175: Trade, Finance and Endogenous Firm Heterogeneity

Alessandra Bonfiglioli, Crinò, Rosario and Gino Gancia

11174: Cultural Leaders and the Dynamics of Assimilation

Yves Zenou and Thierry Verdier

11173: Ownership Concentration and Strategic Supply Reduction

Ulrich Doraszelski, ,, Michael Sinkinson and Peichun Wang

11172: Mirrlees meets Diamond-Mirrlees

Florian Scheuer and Iván Werning

11171: Cross-Border Resolution of Global Banks: Bail in under Single Point of Entry versus Multiple Points of Entry

Beatrice Weder di Mauro and Ester Faia

11170: Safe Asset Scarcity and Aggregate Demand

Pierre-Olivier Gourinchas, Ricardo Caballero and Emmanuel Farhi

11169: Risk Premia and Seasonality in Commodity Futures

Ivan Petrella, Martin Sola and Constantino Hevia

11168: Families in Macroeconomics

Michele Tertilt and Matthias Doepke

11167: The impact of international swap lines on stock returns of banks in emerging markets

Andreas Fischer, Yeşin, Pınar and Alin Andries

11166: Deepening Contractions and Collateral Constraints

Henrik Jensen, Søren Hove Ravn and Emiliano Santoro

11165: Job-Search Periods for Welfare Applicants: Evidence from a Randomized Experiment

Bas van der Klaauw, Jonneke Bolhaar and Nadine Ketel

11164: Network Contagion and Interbank Amplification during the Great Depression

Kris Mitchener and G Gary Richardson

11163: Finance, Labour, Capital, and International Integration

Giuseppe Bertola

11162: Special and Differential Treatment for Developing Countries

Emanuel Ornelas

11161: Dynamic Factor model with infinite dimensional factor space: forecasting

Mario Forni, Alessandro Giovannelli, Marco Lippi and Stefano Soccorsi

11160: Public Development Banks and Credit Market Imperfections

Marcela Eslava

11159: Globalization and Political Structure

Giacomo Ponzetto, Gino Gancia and Jaume Ventura

11158: Bargaining over Babies: Theory, Evidence, and Policy Implications

Matthias Doepke and Fabian Kindermann

11157: Endogenous Repeated Cooperation and Surplus Distribution - An Experimental Analysis

Georg Kirchsteiger, Sibilla di Guida, The Anh Han, Tom Lenaerts and Ioannis Zisis

11155: Board Diversity and Firm Performance Volatility

Mariassunta Giannetti and Mengxin Zhao

11154: Information Sharing and Rating Manipulation

Mariassunta Giannetti, Jose Maria Liberti and Jason Sturgess

11153: The invisible hand of the government: "Moral suasion" during the European sovereign debt crisis

Neeltje Van Horen, Steven Ongena and Alexander Popov

11152: Effective Tax Rates and Effective Progressivity in a Fiscally Decentralized Country

Marcus Roller

11151: The Purpose of Trade Agreements

Gene Grossman

11150: Systemic risk-taking at banks: Evidence from the pricing of syndicated loans

Wolf Wagner and Di Gong

11149: Secular Stagnation, Rational Bubbles and Fiscal Policy

C. N. Teulings

11148: The Impact of Trade Agreements on Consumer Welfare

Holger Breinlich, Swati Dhingra and Giuseppe Berlingieri

11147: Financial Regulation in Europe: Foundations and Challenges

Thorsten Beck, Elena Carletti and Itay Goldstein

11146: Game of zones: The political economy of conservation areas

Gabriel Ahlfeldt, Möller, Kristoffer, Sevrin Waights and Nicolai Wendland

11145: Securitisation Bubbles: Structured finance with disagreement about default correlations

Tobias Broer

11144: Growing like Spain: 1995-2007

Josep Pijoan-Mas, García-Santana, Manuel, Enrique Moral-Benito and Roberto Ramos

11143: Risk-Sharing in Village Economies Revisited

Tobias Broer and Tessa Bold

11142: How Firms Export: Processing vs. Ordinary Trade with Financial Frictions

Kalina Manova and Zhihong Yu

11141: A comparison of nominal and indexed debt under fiscal constraints

Ed Westerhout

11140: Fiscal Councils: Rationale and Effectiveness

Roel Beetsma and Xavier Debrun

11139: University Innovation and the Professor’s Privilege

Hans Hvide and Benjamin Jones

11138: Relational Knowledge Transfers

Luis Garicano and Luis Rayo

11137: Using Preference Estimates to Customize Incentives: An Application to Polio Vaccination Drives in Pakistan

Charles Sprenger, James Andreoni, Zain Chaudhry and Muhammad Khan

11136: Do Natural Resources Influence Who Comes to Power, and How?

Maria Carreri

11135: Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies

Ramon Marimon

11134: The long run effects of labor migration on human capital formation in communities of origin

Martine Mariotti

11133: Identifying the Discount Factor in Dynamic Discrete Choice Models

Jaap Abbring and Daljord, Øystein

11127: Linear voting Rules

Grüner, Hans Peter and Tröger, Thomas

11120: Cognitive and non-cognitive costs of daycare 0–2 for children in advantaged families

Margherita Fort and Giulio Zanella