CEPR Discussion Papers

From C.E.P.R. Discussion Papers
Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
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8377: Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits

Oded Galor and Stelios Michalopoulos

8376: China's Latent Human Capital Investment: Achieving Milestones and Competing for the Top

Klaus Zimmermann, Amelie Constant, Bienvenue Tien and Jingzhou Meng

8375: Investing in schooling in Chile: The role of information about financial aid for higher education

Taryn Dinkelman and Martínez A, Claudia

8374: Smiling is a Costly Signal of Cooperation Opportunities: Experimental Evidence from a Trust Game

Paul Seabright, Astrid Hopfensitz, Samuele Centorrino, Elodie Djemai and Manfred Milinski

8373: Recessions are bad for workplace safety

Jan C. van Ours, Zweimüller, Josef, Jan Boone and Jean-Philippe Wuellrich

8372: Organizational Economics with Cognitive Costs

Andrea Prat and Luis Garicano

8371: Investments in Pharmaceuticals Before and After TRIPS

Margaret Kyle and Anita M McGahan

8370: The Welfare Effects of Bundling in Multichannel Television Markets

Gregory Crawford and Ali Yurukoglu

8369: The Rise and Fall of Spain (1270-1850)

Leandro Prados de la Escosura and Carlos à lvarez-Nogal

8368: Do Local Elections in Non-Democracies Increase Accountability? Evidence from Rural China

Nancy Qian, Padró i Miquel, Gerard, Monica Martinez-Bravo and Yang Yao

8367: Market Size and Pharmaceutical Innovation

Paul Seabright, Fiona Scott Morton, Pierre Dubois and Olivier de Mouzon

8366: Investments as Signals of Outside Options

Patrick Schmitz and Goldlücke, Susanne

8365: Persecution Perpetuated: The Medieval Origins of Anti-Semitic Violence in Nazi Germany

Hans-Joachim Voth and Voigtländer, Nico

8364: Business cycle measurement with some theory

Fabio Canova and Matthias Paustian

8363: A Test of Racial Bias in Capital Sentencing

Alberto Alesina and Eliana La Ferrara

8362: Where It All Began: Lending of Last Resort and the Bank of England during the Overend, Gurney Panic of 1866

Marc Flandreau and Stefano Ugolini

8361: Shifting Credit Standards and the Boom and Bust in US House Prices

John Muellbauer, Anthony Murphy and John Duca

8360: House Prices and Credit Constraints: Making Sense of the US Experience

John Muellbauer, Anthony Murphy and John Duca

8359: Debt Portfolios

Winfried Koeniger and Thomas Hintermaier

8358: Sovereign Default Risk and Bank Fragility in Financially Integrated Economies

Patrick Bolton and Olivier Jeanne

8357: On the importance of sectoral and regional shocks for price-setting

Kirstin Hubrich, Massimiliano Marcellino and Guenter Beck

8356: Decentralization, Happiness, and the Perception of Institutions

Rodríguez-Pose, Andrés and Luis Diaz-Serrano

8355: The International Risk-Sharing Puzzle is at Business Cycle and Lower Frequency

Giancarlo Corsetti, Luca Dedola and Francesca Viani

8354: Hidden consequences of a first-born boy for mothers

Andrea Ichino, Eliana Viviano and Lindström, Elly-Ann

8353: Entry and Competition in Differentiated Products Markets

Frank Verboven and Catherine Schaumans

8352: War Signals: A Theory of Trade, Trust and Conflict

Fabrizio Zilibotti and Dominic Rohner

8351: How Prediction Markets Can Save Event Studies

Justin Wolfers, Eric Zitzewitz and Erik Snowberg

8350: Learning from Prices, Liquidity Spillovers, and Market Segmentation

Thierry Foucault and Giovanni Cespa

8349: Market Size, Competition, and the Product Mix of Exporters

Gianmarco Ottaviano, Marc Melitz and Thierry Mayer

8348: Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area

Gert Peersman

8347: Business Cycle Synchronization Since 1880

Michael Artis, Pkg Harischandra and George Chouliarakis

8346: ECB Repo Rate Setting During the Financial Crisis

Stefan Gerlach

8345: Are capital intensive firms the biggest exporters?

Rikard Forslid and Toshihiro Okubo

8344: The Effect of Agglomeration Size on Local Taxes

Kurt Schmidheiny and Eva Luthi

8343: Carry Trade and Momentum in Currency Markets

Martin Eichenbaum, Sergio Rebelo and Craig Burnside

8342: Joint estimates of automatic and discretionary fiscal policy: the OECD 1981-2003

Jacques Melitz and Julia Darby

8341: The Changing International Transmission of Financial Shocks: Evidence from a Classical Time-Varying FAVAR

Massimiliano Marcellino, Sandra Eickmeier and Wolfgang Lemke

8340: Learning as a Rational Foundation for Macroeconomics and Finance

Seppo Honkapohja and George Evans

8339: Does Parental Education Affect Fertility? Evidence from Pre-Demographic Transition Prussia

Ludger Woessmann, Sascha Becker and Francesco Cinnirella

8338: Patent Office Governance and Patent System Quality

Pierre Picard and Bruno van Pottelsberghe de la Potterie

8337: The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises

Mariassunta Giannetti and Luc Laeven

8336: Security Design: Signaling versus Speculative Markets

Gilles Chemla and Christopher Hennessy

8335: Industrial Catching Up in the Poor Periphery 1870-1975

Jeffrey G. Williamson

8334: The role of intuition and reasoning in driving aversion to risk and ambiguity

Luigi Guiso, Tullio Jappelli and Jeffrey Butler

8333: Optimal Bank Capital

David Miles, Jing Yang and Gilberto Marcheggiano

8332: Systemic Risk and Network Formation in the Interbank Market

Yves Zenou, Eleonora Patacchini and Ethan Cohen-Cole

8331: Cross-Listing, Investment Sensitivity to Stock Price and the Learning Hypothesis

Thierry Foucault and Frésard, Laurent

8330: Tax-Adjusted Discount Rates: A General Formula under Constant Leverage Ratios

Kjell Nyborg and Molnár, Peter

8329: Intergenerational Redistribution in the Great Recession

Jonathan Heathcote, Dirk Krueger and Andrew Glover

8328: Taxes, Social Subsidies and the Allocation of Work Time

Christopher Pissarides and L. Rachel Ngai

8327: Leverage as a Predictor for Real Activity and Volatility

Robert Kollmann and Stefan Zeugner

8326: Happiness on Tap: Piped Water Adoption in Urban Morocco

Esther Duflo, Pascaline Dupas, Parienté, William, Florencia Devoto and Vincent Pons

8325: How do credit conditions shape economic recoveries?

Fabrizio Coricelli and Isabelle Roland

8324: Liquidity shocks, roll-over risk and debt maturity

Javier Suarez and Anatoli Segura

8323: A Theory of BOT Concession Contracts

Emmanuelle Auriol and Pierre Picard

8322: Credit Channels in a Liquidity Trap

Morten Ravn and Karel Mertens

8321: Classical time-varying FAVAR models - Estimation, forecasting and structural analysis

Massimiliano Marcellino, Sandra Eickmeier and Wolfgang Lemke

8320: Retaining through training; even for older workers

Jan C. van Ours and Matteo Picchio

8319: An impure public good model with lotteries in large groups

Haydée Lugo

8318: The Origins of Intergenerational Associations in Crime: Lessons from Swedish Adoption Data

Randi Hjalmarsson and Matthew Lindquist

8317: Machines and machinists: Capital-skill complementarity from an international trade perspective

Miklós Koren and Csillag, Márton

8316: Persistent anti-market culture: A legacy of the Pale of Settlement and of the Holocaust

Irena Grosfeld, Ekaterina Zhuravskaya and Alexander Rodnyansky

8315: Democratization and Civil Liberties: The Role of Violence During the Transition

Uwe Sunde, Piergiuseppe Fortunato and Matteo Cervellati

8314: Predicting Lotto Numbers

Jean-Robert Tyran, Sigrid Suetens and ,

8313: Hedging and Vertical Integration in Electricity Markets

Gilles Chemla, Nizar Touzi, Aïd, René and Arnaud Porchet

8312: Voluntary participation and intergenerational risk sharing in a funded pension system

Roel Beetsma, Ward Romp and Siert Vos

8311: Education and Migration Choices in Hierarchical Societies: The Case of Matam, Senegal

Emmanuelle Auriol and Jean-Luc Demonsant

8310: A Decade of Debt

Kenneth Rogoff and Carmen Reinhart

8309: What Explains the Lagged Investment Effect?

Sergio Rebelo, Janice Eberly and Nicolas Vincent

8308: Trust in Public Institutions over the Business Cycle

Justin Wolfers and Betsey Stevenson

8307: Idiosyncratic Return Volatility in the Cross-Section of Stocks

Péter Kondor, Ronnie Sadka and Namho Kang

8306: Heterogeneous Responses and Aggregate Impact of the 2001 Income Tax Rebates

Paolo Surico and Kanishka Misra

8305: Mafia and Public Spending: Evidence on the Fiscal Multiplier from a Quasi-experiment

Giancarlo Corsetti, Saverio Simonelli and Antonio Acconcia

8304: The Countercyclical Capital Buffer of Basel III: A Critical Assessment

Rafael Repullo and Jesús Saurina

8303: Expectations, Liquidity, and Short-term Trading

Xavier Vives and Giovanni Cespa

8302: Preventing Collusion through Discretion

Leonardo Felli and Rafael Hortala-Vallve

8301: Creditless Recoveries

Giovanni Dell'ariccia, Abdul Abiad and Bin Grace Li

8300: Credit Standards and Segregation

Rancière, Romain and Amine Ouazad

8299: What Drives U.S. Immigration Policy? Evidence from Congressional Roll Call Votes

Giovanni Facchini and Max Steinhardt

8298: Contractual Structure and Endogenous Matching in Partnerships

Maitreesh Ghatak and ,

8297: Are Compact Cities Environmentally Friendly?

Jacques Thisse, Gaigné, Carl and Stephane Riou

8296: The Political Value of Land: Democratization and Land Prices in Chile

James Robinson and Jean-Marie Baland

8295: The Threat Effect of Participation in Active Labor Market Programs on Job Search Behavior of Migrants in Germany

Klaus Zimmermann, Gerard van den Berg, Annette Bergemann and Marco Caliendo

8294: Sensitivity of matching-based program evaluations to the availability of control variables

Michael Lechner and Conny Wunsch

8293: Does WTO Matter for the Extensive and the Intensive Margins of Trade?

Timothy Van Zandt, Ilian Mihov and Pushan Dutt

8292: A Century of Inflation Forecasts

Paolo Surico and ,

8291: Carry Trades and Global Foreign Exchange Volatility

Lukas Menkhoff, Lucio Sarno, Andreas Schrimpf and Maik Schmeling

8290: Price-Cost Margins and Shares of Fixed Factors

Jozef Konings, Werner Roeger and Liqiu Zhao

8289: Competitive Pressure and the Adoption of Complementary Innovations

Eugenio Miravete, Tobias Kretschmer and Pernías, Jose C

8288: The Empire Is Dead, Long Live the Empire! Long-Run Persistence of Trust and Corruption in the Bureaucracy

Christa Hainz, Ludger Woessmann, Sascha Becker and Katrin Boeckh

8287: The Irish Crisis

Philip Lane

8286: Trade and the Skill Premium Puzzle with Capital Market Imperfections

Maitreesh Ghatak and Roberto Bonfatti

8285: Fragile States and Development Policy

Torsten Persson and Timothy Besley

8284: Quality competition with profit constraints: Do non-profit firms provide higher quality than for-profit firms?

Kurt Brekke and Luigi Siciliani

8283: INSTITUTIONS AND ENTRY: A CROSS-REGIONAL ANALYSIS IN RUSSIA

Saul Estrin, Randolph Bruno and Maria Bytchkova

8282: Public Procurement and Rent-Seeking: The Case of Paraguay

Emmanuelle Auriol, Stephane Straub and Thomas Flochel

8281: Creative Destruction and Productive Preemption

Lars Persson, Norbäck, Pehr-Johan and Roger Svensson

8280: Market Structure, Countervailing Power and Price Discrimination: The Case of Airports

Jonathan Haskel, Tommaso Valletti and ,

8279: Intertemporal movie distribution: Versioning when customers can buy both versions

Tommaso Valletti and Joan Calzada

8278: The marginal value of cash, cash flow sensitivities, and bank-finance shocks in nonlisted firms

Sørensen, Bent E, Charlotte Ostergaard and Amir Sasson