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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5257: Efficient Exclusion

Espen Moen and Christian Riis

5256: Effects of Employment Protection on Worker and Job Flows: Evidence from the 1990 Italian Reform

Adriana Kugler and Giovanni Pica

5255: Indeterminacy in Dynamic Models: When Diamond Meets Ramsey

Teresa Lloyd-Braga, Carine Nourry and Alain Venditti

5254: Small Fish - Big Issues The Effect of Trade Policy on the Global Shrimp Market

Peter Debaere

5253: Financial Integration and Systemic Risk

Falko Fecht and Grüner, Hans Peter

5252: Why Are Some Public Officials More Corrupt Than Others?

Jennifer Hunt

5251: Bribery: Who Pays, Who Refuses, What are the Payoffs?

Jennifer Hunt and Sonia Laszlo

5250: Modeling Exchange Rate Passthrough After Large Devaluations

Martin Eichenbaum, Sergio Rebelo and Ariel Burstein

5249: Market Definition with Differentiated Products - Lessons from the Car Market

Frank Verboven and Randy Brenkers

5248: Who wins and who loses from school accountability? The distribution of educational gain in English secondary schools

Simon Burgess, Carol Propper, Deborah Wilson and Helen Slater

5247: Level Playing Fields in International Financial Regulation

Alan Morrison and Lucy White

5246: Death and Development

Peter Lorentzen, John McMillan and Romain Wacziarg

5245: Euler Equation Errors

Martin Lettau and Sydney Ludvigson

5244: Peer Effects and Social Networks in Education and Crime

Yves Zenou, Calvó-Armengol, Antoni and Eleonora Patacchini

5243: The (Bad?) Timing of Mutual Fund Investors

Shmuel Kandel, Avi Wohl and Oded Braverman

5242: Experts vs Discounters: Competition and Market Unravelling When Consumers Do Not Know What they Need

Rudolf Kerschbamer and Uwe Dulleck

5241: Participation Games: Market Entry, Coordination and the Beautiful Blonde

Simon Anderson and Maxim Engers

5240: Minority Blocks and Takeover Premia

Denis Gromb, Fausto Panunzi and Mike Burkart

5239: A Consistent Weighted Ranking Scheme with an Application to NCAA College Football Rankings

Chaim Fershtman, Neil Gandal and Itay Fainmesser

5238: A Protectionist Bias in Majoritarian Politics

Elhanan Helpman and Gene Grossman

5237: 'Aggregation Bias' DOES Explain the PPP Puzzle

Morten Ravn, Helene Rey, Jean Imbs and Haroon Mumtaz

5236: Bargaining and Sustainability: The Argentine Debt Swap of 2005

Marcus Miller, Sayantan Ghosal, Amrita Dhillon and García-Fronti, Javier

5235: Cities and Countries

Andrew Rose

5234: A Global Perspective on External Positions

Gian Maria Milesi-Ferretti and Philip Lane

5233: Party Discipline and Pork-Barrel Politics

Elhanan Helpman and Gene Grossman

5232: Non-stationary Hours in a DSGE Model

Yongsung Chang, Frank Schorfheide and Taeyoung Doh

5231: Sabotage in Tournaments: Making the Beautiful Game a Bit Less Beautiful

Luis Garicano and Ignacio Palacios-Huerta

5230: On-the-Job Search and Sorting

Coen Teulings, Pieter Gautier and Aico van Vuuren

5229: How Large are Search Frictions?

C. N. Teulings and Pieter Gautier

5228: Political competition within and between parties: an application to environmental policy

Helmuth Cremer, Philippe De Donder and Firouz Gahvari

5227: What's the monetary value of distributive justice?

Giacomo Corneo and Christina Fong

5226: Rethinking the Gains from Immigration: Theory and Evidence from the US

Gianmarco Ottaviano and Giovanni Peri

5225: Job Contact Networks and the Ethnic Minorities

Yves Zenou, Harminder Battu and Paul Seaman

5224: What are Firms? Evolution from Birth to Public Companies

Steven Kaplan, Strömberg, Per and Berk Sensoy

5223: The Media and Advertising: A Tale of Two-Sided Markets

Jean Gabszewicz and Simon Anderson

5222: Trade Spillovers of Fiscal Policy in the European Union: A Panel Analysis

Roel Beetsma, Franc Klaassen and Massimo Giuliodori

5221: Fertility: The Role of Culture and Family Experience

Fernández, Raquel and Alessandra Fogli

5220: From World Banker to World Venture Capitalist: US External Adjustment and The Exorbitant Privilege

Helene Rey and Pierre-Olivier Gourinchas

5219: Signal Accuracy and Informational Cascades

Tuvana Pastine and Ivan Pastine

5218: Make Trade not War?

Philippe Martin and Thierry Mayer

5217: The Short-Term Budgetary Implications of Structural Reforms. Evidence from a Panel of EU Countries

Servaas Deroose and Alessandro Turrini

5216: The Stability Pact Pains: A Forward-Looking Assessment of the Reform Debate

Sylvester Eijffinger, Daniele Franco and Marco Buti

5215: The Determinants of Asset Stripping: Theory and Evidence from the Transition Economies

Nauro Campos and Francesco Giovannoni

5214: The Construction and Interpretation of Combined Cross-Section and Time-Series Inequality Datasets

Joseph Francois and Hugo Rojas-Romagosa

5213: Bank Finance versus Bond Finance: What Explains the Differences Between the US and Europe?

Harald Uhlig and Fiorella De Fiore

5212: Understanding the Effects of Government Spending on Consumption

Galí, Jordi, Vallés Liberal, Javier and López-Salido, J David

5211: Implementation of Anti-Discrimination Policy: Does Judicial Selection Matter?

Timothy Besley and A. Payne

5210: The Overhang Hangover

Jean Imbs and Rancière, Romain

5209: Collateral Damage: Trade Disruption and the Economic Impact of War

Alan Taylor and Reuven Glick

5208: Business Groups in Emerging Markets: Paragons or Parasites?

Yishay Yafeh and Tarun Khanna

5207: Bayesian Analysis of DSGE Models

Frank Schorfheide and Sungbae An

5206: Succession Rules and Leadership Rents

Kai Konrad and Stergios Skaperdas

5205: Equilibrium and Efficiency in the Tug-of-War

Dan Kovenock and Kai Konrad

5204: M&As Performance in the European Financial Industry

Jose Campa and Ignacio Hernando

5203: The Marginal Product of Capital

Francesco Caselli and James Feyrer

5202: Borders and Growth

Romain Wacziarg and Enrico Spolaore

5201: Political Selection and the Quality of Government: Evidence from South India

Timothy Besley, Rohini Pande and Vijayendra Rao

5200: Insurance and Opportunities: The Welfare Implications of Rising Wage Dispersion

Kjetil Storesletten, Giovanni Violante and Jonathan Heathcote

5199: Target Zones in Theory and History: Credibility, Efficiency, and Policy Autonomy

Marc Flandreau and John Komlos

5189: Factors Accounting for the Enactment of a Competition Law - An Empirical Analysis

Johannes Stephan and Franz Kronthaler

5188: Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic

Szapáry, György, Andrew Rose and Zsolt Darvas

5187: Risk Management with Benchmarking

Teplá, Lucie, Suleyman Basak and Alex Shapiro

5186: Intelligence Failures: An Organizational Economics Perspective

Luis Garicano and Richard Posner

5185: Informed Lending and Security Design

Roman Inderst and Holger Mueller

5184: Land Reforms and Economic Development

Hans Gersbach and Lars-Hinrich Siemers

5183: Cotton Textiles and the Great Divergence: Lancashire, India and Shifting Competitive Advantage, 1600-1850

Stephen Broadberry and Bishnupriya Gupta

5182: The Value of Tax Shields IS Equal to the Present Value of Tax Shields

Ian Cooper and Kjell Nyborg

5181: Why Are Returns on Swiss Franc Assets So Low? Rare Events May Solve the Puzzle

Peter Kugler and Beatrice Weder di Mauro

5180: Insider Trading in Credit Derivatives

Viral Acharya and Tim Johnson

5179: Business Cycle Sychronization in the Enlarged EU

Szapáry, György and Zsolt Darvas

5178: Nowcasting GDP and Inflation: The Real Time Informational Content of Macroeconomic Data Releases

Lucrezia Reichlin, Domenico Giannone and David Small

5177: Estimation and Testing of Dynamic Models with Generalized Hyperbolic Innovations

Enrique Sentana and Mencía, Javier

5176: The 'News' View of Economic Fluctuations: Evidence from Aggregate Japanese Data and Sectoral US Data

Franck Portier and Paul Beaudry

5175: Re-election Threshold Contracts in Politics

Hans Gersbach and Verena Liessem

5174: The Macroeconomic Consequences of Reciprocity in Labour Relations

Jean-Pierre Danthine and André Kurmann

5173: Performance Measurement with Loss Aversion

Mark Salmon, Gordon T Gemmill and Soosung Hwang

5172: Urbanization Externalities, Market Potential and Spatial Sorting of Skills and Firms

Giordano Mion and Paolo Naticchioni

5171: The Curse and Blessing of Training the Unemployed in a Changing Economy: the Case of East Germany after Unification

Ruth Miquel, Michael Lechner and Conny Wunsch

5170: Optimum Income Taxation and Layoff Taxes

Pierre Cahuc and Andre Zylberberg

5169: The Roots of Low European Employment: Family Culture?

Pierre Cahuc and Yann Algan

5168: The Brain as a Hierarchical Organization

Juan D. Carrillo and Isabelle Brocas

5167: Real Effects of Inflation Through the Redistribution of Nominal Wealth

Martin Schneider and Matthias Doepke

5166: On the Uniqueness of Optimal Prices Set by Monopolistic Sellers

Gerard van den Berg

5165: Globalization and Emerging Markets: With or Without Crash?

Philippe Martin and Helene Rey

5164: German Bank Lending During Financial Crises: A Bank Level Analysis

Beatrice Weder di Mauro, Natalja von Westernhagen, Thorsten Nestmann and Frank Heid

5163: Basel II and Bank Lending to Emerging Markets: Micro Evidence from German Banks

Thilo Liebig, Beatrice Weder di Mauro, Daniel Porath and Michael Wedow

5162: When do Countries Introduce Competition Policy?

Rikard Forslid, Häckner, Jonas and Astri Muren

5161: Age-Specific Cyclical Effects in Job Reallocation and Labour Mobility

Jan C. van Ours and Anne Gielen

5160: Do Countries Free Ride on MFN?

Rodney Ludema and Anna Maria Mayda

5159: International Equity Flows and Returns: A Quantitative Equilibrium Approach

Martin Schneider, Rui Albuquerque and Gregory Bauer

5158: Making A Difference

Patrick Francois

5157: The Dot-Com Bubble, the Bush Deficits, and the US Current Account

Jaume Ventura and Aart Kraay

5156: Doha Merchandise Trade Reform: What?s at Stake for Developing Countries?

Kym Anderson, Dominique van der Mensbrugghe and Will Martin

5155: Voting Transparency in a Monetary Union

Hans Gersbach and Volker Hahn

5154: Cash-in-the-Market Pricing and Optimal Bank Bailout Policy

Viral Acharya and Tanju Yorulmazer

5153: Preference Erosion and Multilateral Trade Liberalization

Joseph Francois and Miriam Manchin

5152: Coordination in Markets with Consumption Externalities: The Role of Advertising and Product Quality

Tuvana Pastine and Ivan Pastine

5151: Financial Integration and Entrepreneurial Activity: Evidence from Foreign Bank Entry in Emerging Markets

Steven Ongena and Mariassunta Giannetti

5150: Does External Trade Promote Financial Development?

Jonathan Temple and Yongfu Huang

5149: Long-Run Determinants of Inflation Differentials in a Monetary Union

Filippo Altissimo, Pierpaolo Benigno and Diego Rodriguez Palenzuela