CEPR Discussion Papers

From Centre for Economic Policy Research
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10314: Global Liquidity and Drivers of Cross-Border Bank Flows

Stijn Claessens, Lev Ratnovski and Eugenio Cerutti

10313: Pricing a Package of Services

Dezsoe Szalay and Felix Ketelaar

10312: Managerial Incentive Problems and Return Distributions

Dezsoe Szalay and Venuga Yokeeswaran

10311: Bailouts And Moral Hazard: How Implicit Government Guarantees Affect Financial Stability

Ouarda Merrouche, Mike Mariathasan and Charlotte Werger

10310: The Margins of Global Sourcing: Theory and Evidence from U.S. Firms

Pol Antràs and Felix Tintelnot

10309: Corporate Cash and Employment

Philippe Bacchetta, Céline Poilly and Kenza Benhima

10308: The Long Run Human Capital and Economic Consequences of High-Stakes Examinations

Victor Lavy, Avraham Ebenstein and Sefi Roth

10307: Nether Lands: Evidence on the price and perception of rare flood disasters

Harry Garretsen, Maarten Bosker, Gerard Marlet and Clemens van Woerkens

10306: Accounting for Post-Crisis Inflation and Employment: A Retro Analysis

Harald Uhlig and Chiara Fratto

10305: Betting the House

Alan Taylor, Moritz Schularick and Oscar Jorda

10304: The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices

Lutz Kilian

10303: Defaults and Donations: Evidence from a Field Experiment

Paul Heidhues, Armin Falk, Raji Jayaraman and Steffen Altmann

10302: The Impact of Short Term Exposure to Ambient Air Pollution on Cognitive Performance and Human Capital Formation

Victor Lavy, Avraham Ebenstein and Sefi Roth

10301: Consumer valuation of fuel costs and the effectiveness of tax policy: Evidence from the European car market

Frank Verboven, Laura Grigolon and Mathias Reynaert

10300: Banks Exposure to Interest Rate Risk and The Transmission of Monetary Policy

David Thesmar, Augustin Landier and David Sraer

10299: A Dynamic Model of Banking with Uninsurable Risks and Regulatory Constraints

Alexander Michaelides, Jochen Mankart and Spyros Pagratis

10298: Impulse Response Matching Estimators for DSGE Models

Lutz Kilian, Atsushi Inoue and Pablo Guerron

10297: Life During Structural Transformation

Jonathan Temple and Huikang Ying

10296: Drivers of Structural Change in Cross-Border Banking Since the Global Financial Crisis

Marcel Fratzscher and Franziska Bremus

10295: Banking Integration and House Price Comovement

David Thesmar, Augustin Landier and David Sraer

10294: Can Unemployment Insurance Spur Entrepreneurial Activity?

Antoinette Schoar, David Thesmar, David Sraer and Johan Hombert

10293: Returns to Office in National and Local Politics

Panu Poutvaara, Terviö, Marko and Kaisa Kotakorpi

10292: Intergenerational inequality aversion, growth and the role of damages: Occam?s rule for the global carbon tax

Frederick (Rick) van der Ploeg and Armon Rezai

10291: Growth, Slowdowns, and Recoveries

Francesco Bianchi, Howard Kung and Gonzalo Morales

10290: Network Games with Incomplete Information

Yves Zenou and Joan De Martí,

10289: Euro-Area and US Banks Behavior, and ECB-Fed Monetary Policies during the Global Financial Crisis: A Comparison

Alex Cukierman

10288: A Theory of Wage Adjustment under Loss Aversion

Dennis Snower, Steffen Ahrens and Inske Pirschel

10287: Inference about Non-Identified SVARs

Raffaella Giacomini and Toru Kitagawa

10286: The Curse of Inflation

Erik Eyster, Madarász, Kristóf and Pascal Michaillat

10285: Are Retail Traders Compensated for Providing Liquidity?

David Sraer, Ron Kaniel and Barrot, Jean-Noël

10284: Auctions vs. Negotiations: The Effects of Inefficient Renegotiation

Klaus Schmidt and Fabian Herweg

10283: The academic and labor market returns of university professors

Michele Pellizzari, Michela Braga and Marco Paccagnella

10282: Urban land use

Gilles Duranton and Diego Puga

10281: Government Debt Management: The Long and the Short of It

Albert Marcet, Andrew Scott, Elisa Faraglia and Rigas Oikonomou

10280: A new measure of skills mismatch: theory and evidence from the Survey of Adult Skills (PIAAC)

Michele Pellizzari and Anne Fichen

10279: The Generalized Informativeness Principle

Alex Edmans and Pierre Chaigneau

10278: Insurance companies of the poor

Stefan Dercon and Tessa Bold

10277: Key Players

Yves Zenou

10276: Exporting and Firm Performance: Evidence from a Randomized Trial

,, David Atkin and Adam Osman

10275: Measuring the bias of technological change

Jordi Jaumandreu and Ulrich Doraszelski

10274: First-Mover Advantage in Round-Robin Tournaments

Aner Sela and Reut Megidish

10273: Dynamic Spatial Competition Between Multi-Store Firms

Victor Aguirregabiria and Gustavo Vicentini

10272: Following the Trend: Tracking GDP when Long-Run Growth is Uncertain

Ivan Petrella, Thomas Drechsel and Juan Antolin-Diaz

10271: Risky sexual behavior: biological markers and self-reported data

Lucia Corno and Aureo de Paula

10270: Can active labor market policy be counter-productive?

Gilles Saint-Paul

10269: How Darwinian should an economy be?

Gilles Saint-Paul

10268: Trade in Tasks and the Organization of Firms

Dalia Marin, Alexander Tarasov and Jan Schymik

10267: Human Capital and Optimal Redistribution

Winfried Koeniger and Julien Prat

10266: Financial Constraints in Search Equilibrium

Tito Boeri, Pietro Garibaldi and Espen Moen

10265: Bank Liabilities Channel

Vincenzo Quadrini

10264: International Banking: the Isolation of the Euro Area

Anne-Laure Delatte and Vincent Bouvatier

10263: Innovation in creative cities: Evidence from British small firms

Rodríguez-Pose, Andrés and Neil Lee

10262: The Power of the Street: Evidence from Egypt's Arab Spring

Daron Acemoglu, Tarek Hassan and Ahmed Tahoun

10261: Do Funds Make More When They Trade More?

Robert Stambaugh, Pástor, Luboš and Lucian Taylor

10260: Financing Constraints, Home Equity and Selection into Entrepreneurship

Ramana Nanda and Thais Laerkholm Jensen

10259: How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?

Dirk Krueger, Hans Holter and Serhiy Stepanchuk

10258: Further Evidence on the Link between Pre-Colonial Political Centralization and Comparative Economic Development in Africa

Elias Papaioannou and Stelios Michalopoulos

10257: On the Ethnic Origins of African Development: Chiefs and Pre-colonial Political Centralization

Elias Papaioannou and Stelios Michalopoulos

10256: The Impact of a Permanent Income Shock on the Situation of Women in the Household: the case of a pension reform in Argentina

Matilde Machado, Dolores de la Mata and Inés Berniell

10255: New trade models, elusive welfare gains

Yasusada Murata and Kristian Behrens

10254: Credence Goods, Costly Diagnosis, and Subjective Evaluation

Helmut Bester and Matthias Dahm

10253: Regional Policy Evaluation: Interactive Fixed Effects and Synthetic Controls

Thierry Magnac and Laurent Gobillon

10252: The Transmission of Liquidity Shocks: Evidence from Credit Rating Downgrades

Ouarda Merrouche, Philippe Karam, Rima Turk Ariss and Moez Souissi

10251: Financial Development and Technology Diffusion

Diego Comin and Ramana Nanda

10250: Monetarism rides again? US monetary policy in a world of Quantitative Easing

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

10249: Overdeterrence of repeat offenders when penalties for first-time offenders are restricted

Patrick Schmitz

10248: Strong versus Weak Ties in Migration

Yves Zenou, Jackline Wahba and Corrado Giulietti

10247: Optimal Taxation with Rent-Seeking

Florian Scheuer and Casey Rothschild

10246: Dual Labour Markets and (Lack of) On-The-Job Training: PIAAC Evidence from Spain and Other EU Countries

Juan Dolado and Ricardo Mora Villarrubia

10245: Does Marriage Make You Healthier?

Nezih Guner and Yuliya Kulikova

10244: The Rise of the Machines: Automation, Horizontal Innovation and Income Inequality

Hémous, David and Morten Olsen

10243: The Impact of Maximum Markup Regulation on Prices

Mario Pagliero, Christos Genakos and Pantelis Koutroumpis

10242: Trade and Tasks: An Exploration over Three Decades in Germany

Sascha Becker and Marc-Andreas Muendler

10241: Cultural diversity and entrepreneurship in England and Wales

Rodríguez-Pose, Andrés and Daniel Hardy

10240: The role of fiscal policy in Britain's Great Inflation

A. Patrick Minford, Zhirong Ou and Jingwen Fan

10239: How good are out of sample forecasting Tests on DSGE models?

A. Patrick Minford, Peng Zhou and Yongdeng Xu

10238: A DSGE Model of China

A. Patrick Minford, Li Dai and Peng Zhou

10237: Dealer Networks

Schürhoff, Norman and Dan Li

10236: Predicting the VIX and the Volatility Risk Premium: What's Credit and Commodity Volatility Risk Got To Do With It?

Eric Ghysels and Elena Andreou

10235: Growth, Trade, and Inequality

Elhanan Helpman and Gene Grossman

10234: Momentum Trading, Return Chasing, and Predictable Crashes

Eric Ghysels, Ravi Jagannathan and Benjamin Chabot

10233: Basic versus supplementary health insurance: the role of cost effectiveness and prevalence

Jan Boone

10232: Exchange Rates Dynamics with Long-Run Risk and Recursive Preferences

Robert Kollmann

10231: Early Maternal Time Investment and Early Child Outcomes

Marco Francesconi and Emilia Del Bono

10230: Monetary Policy and Bank Lending Rates in Low-Income Countries: Heterogeneous Panel Estimates

Peter Montiel, Antonio Spilimbergo, Prachi Mishra and Peter Pedroni

10229: Should central banks provide reserves via repos or outright bond purchases?

David Miles and Jochen Schanz

10228: Do Female Executives Make a Difference? The Impact of Female Leadership on Gender Gaps and Firm Performance

Luca Flabbi, Fabiano Schivardi and Andrea Moro

10227: Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data

Emmanuel Saez and Gabriel Zucman

10226: Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt

David McKenzie

10225: Radio Frequency (Un)Identification: Results from a Proof-of-Concept Trial of the use of RFID Technology to Measure Microenterpr

David McKenzie and Suresh De Mel

10224: The Future in Mind: Aspirations and Forward-Looking Behaviour in Rural Ethiopia

Stefan Dercon, Kate Orkin, Tanguy Bernard and Alemayehu Taffesse

10223: Central Banks: Powerful, Political and Unaccountable?

Willem Buiter

10222: Germs, Social Networks and Growth

Laura Veldkamp and Alessandra Fogli

10221: Do Single-Sex Classes Affect Achievement? An Experiment in a Coeducational University

Alison Booth, Patrick Nolen and Lina Cardona Sosa

10220: Price Dynamics with Customer Markets

Luigi Paciello, Andrea Pozzi and Nicholas Trachter

10219: Optimal trade policy with monopolistic competition and heterogeneous firms

Anthony Venables and Jan I. Haaland

10218: Transmission of preferences and beliefs about female labor market participation: direct evidence on the role of mothers

Matilde Machado, Jesus Carro and Ricardo Mora Villarrubia

10217: Incentive Pay and Bank Risk-Taking:Evidence from Austrian, German, and Swiss Banks

Harald Hau, Johannes Steinbrecher, Kampkötter, Patrick and Matthias Efing

10216: Land use, worker heterogeneity and welfare benefits of public goods

C. N. Teulings, Henri de Groot and Ioulia Ossokina

10215: Unintended Effects of Anonymous Resumes

Crépon, Bruno, Luc Behaghel and Thomas Le Barbanchon