CEPR Discussion Papers

From Centre for Economic Policy Research
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10414: Unshrouding Effects on Demand for a Costly Add-on: Evidence from Bank Overdrafts in Turkey

Jonathan Zinman, Dean Karlan, Sule Alan and Mehmet Cemalcilar

10413: Reforms, Finance, and Current Accounts

Giuseppe Bertola and Anna Lo Prete

10412: The Cost of Binge Drinking

Marco Francesconi and Jonathan James

10411: Industry location and wages: The role of market size and accessibility in trading networks

José Zofío, Kristian Behrens and Javier Barbero

10410: Empirical Games of Market Entry and Spatial Competition in Retail Industries

Victor Aguirregabiria and Junichi Suzuki

10409: Designing a Simple Loss Function for the Fed: Does the Dual Mandate Make Sense?

Jesper Lindé, Jinill Kim, Ricardo Nunes and Davide Debortoli

10408: Get Rid of Unanimity: The Superiority of Majority Rule with Veto Power

Laurent Bouton, Aniol Llorente-Saguer and Frederic Malherbe

10407: Intergovernmental Grants as Signals and the Alignment Effect: Theory and Evidence

Ben Lockwood, Michela Redoano, Emanuele Bracco and Francesco Porcelli

10406: The Economic Consequences of Social Network Structure

Yves Zenou, Matthew Jackson and Brian Rogers

10405: Does polarization of opinions lead to polarization of platforms? the case of correlation neglect

Gilat Levy and Ronny Razin

10404: Understanding the Decline in the Price of Oil since June 2014

Lutz Kilian and Christiane Baumeister

10403: Partner Choice and the Marital College Premium: Analyzing Marital Patterns Over Several Decades

Chiappori, Pierre-André, Salanié, Bernard and Yoram Weiss

10402: Global Sunspots and Asset Prices in a Monetary Economy

Roger Farmer

10401: Unequal Bequests

Marco Francesconi, Domenico Tabasso and Robert Pollak

10400: Ambiguity, Disagreement, and Allocation of Control in Firms

Paolo Fulghieri and David Dicks

10399: Social Capital, Trust, and Firm Performance during the Financial Crisis

Henri Servaes and Ane Tamayo

10398: Economic Effects of the Abolition of Serfdom: Evidence from the Russian Empire

Ekaterina Zhuravskaya and Andrei Markevich

10397: The Limits of Career Concerns in Federalism: Evidence from China

Ekaterina Zhuravskaya and Petra Persson

10396: The International Transmission of Credit Bubbles: Theory and Policy

Jaume Ventura and Martín, Alberto

10395: Why organizations fail: models and cases

Luis Garicano and Luis Rayo

10394: Segregation in Education and Labour Market Discrimination: The Role of Peer Beliefs

Gilat Levy and Ronny Razin

10393: Premature Deindustrialization

Dani Rodrik

10392: Stock Market Returns, Corporate Governance and Capital Market Equilibrium

Ernst-Ludwig von Thadden and Bruno Parigi

10391: Innovation and Trade in the Presence of Credit Constraints

Reto Foellmi, Alexa Tiemann and Stefan Legge

10390: Factor based identification-robust inference in IV regressions

Massimiliano Marcellino, George Kapetanios and Lynda Khalaf

10389: Learning to open up: Capital account liberalizations in the post-Bretton Woods era

Fabrizio Coricelli and Zorobabel Bicaba

10388: Was the Classical Gold Standard Credible on the Periphery? Evidence from Currency Risk

Marc Weidenmier and Kris Mitchener

10387: Optimal capital requirements over the business and financial cycles

Frederic Malherbe

10386: The Social Cost of Air Traffic Delays

Marc Ivaldi, Etienne Billette de Villemeur, Miguel Urdanoz and Emile Quinet

10385: A Welfare Assessment of Revenue Management Systems

Marc Ivaldi, Jerome Pouyet and Nicolas Dupuis

10384: Air Ticket Sales as Bids from Airline Alliances

Marc Ivaldi, Miguel Urdanoz and Milena Petrova

10383: Time Inconsistent Preferences and the Annuitization Decision

Martin Weber and Philipp Schreiber

10382: Small sample performance of indirect inference on DSGE models

A. Patrick Minford, Michael R. Wickens, David Meenagh and Vo Phuong Mai Le

10381: Health provider networks, quality and costs

Jan Boone and Schottmüller, Christoph

10380: Optimal Income Taxation: Mirrlees Meets Ramsey

Jonathan Heathcote and Hitoshi Tsujiyama

10379: Managing the Family Firm: Evidence from CEOs at Work

Andrea Prat, Oriana Bandiera, Raffaella Sadun and Renata Lemos

10378: Bank Capital, Liquid Reserves, and Insolvency Risk

Erwan Morellec and Julien Hugonnier

10377: Second-price common value auctions with uncertainty, private and public information: experimental evidence

Juan D. Carrillo, Isabelle Brocas and Manuel Castro

10376: The Great Recession was not so Great

Jan C. van Ours

10375: Mansion tax: The Effect of Transfer Taxes on the Residential Real Estate Market

Wojciech Kopczuk and David Munroe

10374: Volatility and Political Institutions: Theory and Application to Economic Growth

Timothy Besley and Hannes Mueller

10373: Institutions, Volatility and Investment

Timothy Besley and Hannes Mueller

10372: Norms, Enforcement, and Tax Evasion

Torsten Persson, Timothy Besley and Anders Jensen

10371: The Economics of Temporary Migrations

Christian Dustmann and Görlach, Joseph-Simon

10370: Monetary policy, bank bailouts and the sovereign-bank risk nexus in the euro area

Marcel Fratzscher and Malte Rieth

10369: Life-Cycle Portfolio choice with Liquid and Illiquid Assets

Francisco Gomes, Carolina Fugazza and Claudio Campanale

10368: What Do We Know About Evolution of Top Wealth Shares in the United States?

Wojciech Kopczuk

10367: Taking the Lord's Name in Vain: The Impact of Connected Directors on 19th century British Banks

Richard Grossman and Masami Imai

10366: Mark-up and Cost Dispersion across Firms: Direct Evidence from Producer Surveys in Pakistan

Eric Verhoogen, ,, David Atkin, Azam Chaudhry and Shamyla Chaudry

10365: Wage Inequality and Firm Growth

Holger Mueller, Elena Simintzi and Paige Ouimet

10364: Reading Managerial Tone: How Analysts and the Market Respond to Conference Calls

Richard Zeckhauser, Alexander Wagner and Marina Druz

10363: A Structural Model of the Retail Market for Illicit Drugs

Alessandro Gavazza and Manolis Galenianos

10362: Inside the Crystal Ball: New Approaches to Predicting the Gasoline Price at the Pump

Lutz Kilian, Christiane Baumeister and Thomas K Lee

10361: Fighting the Last War: Economists on the Lender of Last Resort

Richard Grossman and Hugh Rockoff

10360: Capital and Labor Reallocation within Firms

Holger Mueller and Xavier Giroud

10359: A Model of Market and Political Power Interactions for Southern Europe

Tryphon Kollintzas, Vanghelis Vassilatos and Dimitris Papageorgiou

10358: Credit Supply and the Housing Boom

Andrea Tambalotti, Giorgio Primiceri and Alejandro Justiniano

10357: On the Global Supply of Basic Research

Hans Gersbach and Maik Schneider

10356: The world is not yet flat: Transport costs matter!

Kristian Behrens, Theophile Bougna and W. Mark Brown

10355: Gender Gaps in Completed Fertility

Erica Field, Michele Tertilt and Vera Molitor

10354: Effect of Income on Trust: Evidence from the 2009 Crisis in Russia

Sergei Guriev and Maxim Ananyev

10353: Fiscal Multipliers in Recessions

Matthew Canzoneri, Harris Dellas, Behzad Diba and Fabrice Collard

10352: Optimal Spatial Taxation: Are Big Cities too Small?

Jan Eeckhout and Nezih Guner

10351: Long-run bulls and bears

Martin Eichenbaum, Sergio Rebelo, Rui Albuquerque and Dimitris Papanikolaou

10350: Does Finance Benefit Society?

Luigi Zingales

10349: The Political Economy of US Bailouts, Unconventional Monetary Policy, Credit Arrest and Inflation during the Financial Crisis

Alex Cukierman

10348: Networks in Conflict: Theory and Evidence from the Great War of Africa

Fabrizio Zilibotti, Dominic Rohner and Michael Koenig

10347: Austerity in 2009-2013

Francesco Giavazzi, Alberto Alesina, Carlo Favero, Matteo Paradisi and Omar Barbiero

10346: Moving House

L. Rachel Ngai and Kevin Sheedy

10345: Spillovers of Prosocial Motivation: Evidence from an Intervention Study on Blood Donors

Lorenz Goette, Adrian Bruhin, Simon Haenni and Lingqing Jiang

10344: Exchange Rate Pass-Through, Domestic Competition, and Inflation: Evidence from the 2005/08 Revaluation of the Renminbi

Raphael Auer

10343: Optimal Patronage

Mikhail Drugov

10342: Buying First or Selling First in Housing Markets

Espen Moen, Plamen T. Nenov and Florian Sniekers

10341: The Tower of Babel in the Classroom: Immigrants and Natives in Italian Schools

Andrea Ichino, Margherita Fort and Rosario Ballatore

10340: Sequential Auctions with Capacity Constraints: an Experimental Investigation

Juan D. Carrillo, Isabelle Brocas and F. Javier Otamendi

10339: International Credit Flows and Pecuniary Externalities

Markus Brunnermeier and Yuliy Sannikov

10338: Education, HIV, and Early Fertility: Experimental Evidence from Kenya

Michael Kremer, Esther Duflo and Pascaline Dupas

10337: College Diversity and Investment Incentives

Andrew Newman and Thomas Gall

10336: Origins of Stock Market Fluctuations

Martin Lettau, Sydney Ludvigson and Daniel Greenwald

10335: Capital Share Risk and Shareholder Heterogeneity in U.S. Stock Pricing

Martin Lettau, Sydney Ludvigson and Sai Ma

10334: Rare Disasters and Exchange Rates

Xavier Gabaix and Emmanuel Farhi

10333: A Colonial Legacy of African Gender Inequality? Evidence from Christian Kampala, 1895-2011

Jacob Weisdorf

10332: Risk Aversion in a Dynamic Asset Allocation Experiment

Juan D. Carrillo, Isabelle Brocas, Aleksandar Giga and Fernando Zapatero

10331: China?s Decentralized Privatization and Change of Control Rights

Cheng-Gang Xu, Jie Gan and Yan Guo

10330: Limited Nominal Indexation of Optimal Financial Contracts

Vincenzo Quadrini, Meh, Césaire A. and Yaz Terajima

10329: Advertising and Mutual Funds: From Families to Individual Funds

Ron Kaniel, Laura T Starks and Steven Gallaher

10328: Asset Return Predictability in a Heterogeneous Agent Equilibrium Model

Ron Kaniel, Hong Yan, Murray Carlson and David Chapman

10327: Bargaining under the Illusion of Transparency

Madarász, Kristóf

10326: Do Measures of Financial Constraints Measure Financial Constraints?

Alexander Ljungqvist and Joan Farre-Mensa

10325: International Currency Exposures, Valuation Effects and the Global Financial Crisis

Philip Lane, Jay Shambaugh and ,

10324: Product Line Design

Simon Anderson and Levent Celik

10323: Moderating Political Extremism: Single Round vs Runoff Elections under Plurality Rule

Guido Tabellini, Massimo Bordignon and Tommaso Nannicini

10322: The Long and the Short of It: Sovereign Debt Crises and Debt Maturity

Fernández, Raquel and Martín, Alberto

10321: Which club should I attend, Dad?: Targeted socialization and production

Esther Hauk and Facundo Albornoz

10320: Political and Economic Institutions of China and Their Influences

Cheng-Gang Xu

10319: Business Cycle Fluctuations and the Distribution of Consumption

Luca Gambetti and Giacomo De Giorgi

10318: Option-Based Credit Spreads

Pietro Veronesi, Yoshio Nozawa and Christopher L. Culp

10317: Gender Differences in Honesty: Groups Versus Individuals

Gerd Muehlheusser, Andreas Roider and Niklas Wallmeier

10316: Capital Regulation in a Macroeconomic Model with Three Layers of Default

Javier Suarez, Alexis Derviz, Kalin Nikolov, Laurent Clerc, Caterina Mendicino, Livio Stracca, Alexandros Vardoulakis and Stéphane Moyen

10315: Austerity

Harris Dellas and ,