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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4521: The Real Effects of the Euro: Evidence from Corporate Investments

Arturo Bris, Yrjö Koskinen and Mattias Nilsson

4520: Performance and Behaviour of Family Firms: Evidence from the French Stock Market

David Thesmar and David Sraer

4519: Lobbying on Entry

Enrico Perotti and Paolo Volpin

4518: The Term Structure of Real Rates and Expected Inflation

Geert Bekaert and Andrew Ang

4517: Can Portfolio Rebalancing Explain the Dynamics of Equity Returns, Equity Flows and Exchange Rates?

Helene Rey and Harald Hau

4516: Interest Rate Determination in the Interbank Market

Vitor Gaspar, Pérez-Quirós, Gabriel and Hugo Rodriguez Mendizabal

4515: Labour Market Prospects, Search Intensity and Transition from College to Work

Bas van der Klaauw, Aico van Vuuren and Peter Berkhout

4514: A General Test of Gaming

Pascal Courty and Gerald Marschke

4513: Knowledge Disclosure, Patents and Optimal Organization of Research and Development

Sudipto Bhattacharya and Sergei Guriev

4512: Distrust - The Hidden Cost of Control

Armin Falk and Michael Kosfeld

4511: Performance Pay and Adverse Selection

Espen Moen and Rosén, Åsa

4510: Purchasing Power Parity and the Euro Area

Kees Koedijk, Ben Tims and Mathijs van Dijk

4509: Defense R&D in the Anti-Terrorist Era

Manuel Trajtenberg

4508: The Economics of Special and Differential Trade Regimes

Carlo Perroni and Paola Conconi

4507: The Jukebox Mode of Innovation - A Model of Commercial Open Source Development

Joachim Henkel

4506: Managerial Incentives and Collusive Behaviour

Giancarlo Spagnolo

4505: Does Staying out of the European Integration Process Shelter the Industrial Base of Small Countries?

Rikard Forslid

4504: Learning on the Quick and Cheap: Gains from Trade Through Imported Expertise

Thomas Rutherford and James Markusen

4503: Efficiency Wages Revisited: The Internal Reference Perspective

Jean-Pierre Danthine and André Kurmann

4502: Bigger and Better: A Dynamic Regulatory Mechanism for Optimum Quality

Gianni De Fraja and ,

4501: Stock and Bond Returns with Moody Investors

Geert Bekaert, Eric Engstrom and Steve Grenadier

4500: Hansa vs Habsburg: Debt, Deficits and the Entry of Accession Countries into the Euro

Andrew Hughes Hallett and John Lewis

4499: International Investment Patterns

Gian Maria Milesi-Ferretti and Philip Lane

4498: The Era of Migration: Lessons for Today

Kevin O'Rourke

4497: Symmetrical Research Joint Ventures: Cooperative Substitutes and Complements

J. Peter Neary and Dermot Leahy

4496: Oil and the Macroeconomy Since the 1970s

Robert Barsky and Lutz Kilian

4495: The Purchasing Power Parity Debate

Mark Taylor and Alan Taylor

4494: Productivity, Tradability and the Long-Run Price Puzzle

Alan Taylor, Reuven Glick and Paul Bergin

4493: Preference Formation and the Rise of Women's Labour Force Participation: Evidence from WWII

Fernández, Raquel, Claudia Olivetti and Alessandra Fogli

4492: Measuring Market Integration: Foreign Exchange Arbitrage and the Gold Standard 1874-1913

Alan Taylor, Eugene Canjels and Gauri Prakash-Canjels

4491: Managed Trade, Trade Liberalization and Local Pollution

Régibeau, Pierre and Alberto Gallegos

4490: GM Food Crop Technology: Implications For Sub-Saharan Africa

Kym Anderson and Lee Ann Jackson

4489: How Elections Matter: Theory and Evidence from Environmental Policy

Daniel Sturm and John List

4488: Banking Deregulation and Industry Structure: Evidence from the French Banking Reforms of 1985

Marianne Bertrand, Antoinette Schoar and David Thesmar

4487: Macroeconomic Effects of Nominal Exchange Rate Regimes: New Insights into the Role of Price Dynamics

Robert Kollmann

4486: A Prism into the PPP Puzzles: The Micro-Foundations of Big Mac Real Exchange Rates

Shang-Jin Wei and David Parsley

4485: Was There A Nasdaq Bubble in the Late 1990s?

Pietro Veronesi and Pástor, Luboš

4484: First and Second Prizes in Imperfectly Discriminating Contests

Stefan Szymanski and Tommaso Valletti

4483: Innovation Complimentarity and Scale of Production

Eugenio Miravete and Pernías, Jose C

4482: Business Cycles in Emerging Economies: The Role of Interest Rates

Fabrizio Perri and Pablo Neumeyer

4481: Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment

Paolo Pesenti, Tamim Bayoumi and Douglas Laxton

4480: Group Decision-Making in the Shadow of Disagreement

Debraj Ray, Ronny Razin and Kfir Eliaz

4479: The Dynamics of R&D and Innovation in the Short-Run and in the Long-Run

Laura Bottazzi and Giovanni Peri

4478: Unmarried Parenthood and Redistributive Politics

Rohini Pande, Lena Edlund and Laila Haider

4477: Optimal Integration: Strategies for the Multinational Firm

Elhanan Helpman, Gene Grossman and Adam Szeidl

4476: Transparency and International Portfolio Holdings

R. Gaston Gelos and Shang-Jin Wei

4475: Growth Effects of the Exchange-Rate Regime and the Capital Account Openness in A Crisis-Prone World Market: A Nuanced View

Assaf Razin and Yona Rubinstein

4474: The Buffer-Stock Model and the Aggregate Propensity to Consume: A Panel-Data Study of the US States

Sørensen, Bent E and Maria Luengo-Prado

4473: The Economics of US-Style Contingent Fees and UK-Style Conditional Fees

Winand Emons and Nuno Garoupa

4471: Pitfalls of a State-Dominated Financial System: The Case of China

Shang-Jin Wei and Genevieve Boyreau-Debray

4470: Horizontal and Vertical Indirect Tax Competition: Theory and Some Evidence From the USA

Michael Devereux, Ben Lockwood and Michela Redoano

4469: Productivity Improvements in Public Organizations

Hans Gersbach and Marten Keil

4468: Testing the Home Market Effect in a Multi-Country World: The Theory

Gianmarco Ottaviano, Andrea Lamorgese, Takatoshi Tabuchi and Kristian Behrens

4467: International Portfolio Holdings and Swiss Franc Asset Returns

Peter Kugler and Beatrice Weder di Mauro

4466: Curb Your Innovation: Corporate Conservatism in the Presence of Imperfect Intellectual Property Rights

Ronny Razin and Mariagiovanna Baccara

4465: Sovereign Risk Premia in the European Bond Market

Juergen von Hagen, Ludger Schuknecht and Kerstin Bernoth

4464: Fairness and Incentives in a Multi-Task Principle-Agent Model

Klaus Schmidt and Ernst Fehr

4463: Asymmetric Shocks and Risk Sharing in a Monetary Union: Updated Evidence and Policy Implications for Europe

Oved Yosha, Sørensen, Bent E and Kalemli-Özcan, Sebnem

4462: Quid Pro Quo in IPOs: Why Book-Building is Dominating Auctions

Francois Degeorge, Francois Derrien and Kent Womack

4461: The Success of Job Applications: A New Approach to Programme Evaluation

Zweimüller, Josef, Armin Falk and Rafael Lalive

4460: Risk Sharing and EMU

Jacques Melitz

4459: Choosing the Joneses: Endogenous Goals and Reference Standards

Armin Falk and Markus Knell

4458: Institutions as the Fundamental Cause of Long-Run Growth

Daron Acemoglu, Simon Johnson and James Robinson

4457: Characterizing the Business Cycle for Accession Countries

Michael Artis, Massimiliano Marcellino and Tommaso Proietti

4456: Price Discovery in Tick Time

Peter C Schotman and Bart Frijns

4455: Dynamic Mechanism Design with Hidden Income and Hidden Auctions

Robert Townsend and Matthias Doepke

4454: General Equilibrium Effects and Voting into a Crisis

Hans Gersbach and Beilharz, Hans-Jörg

4453: Credit Rationing and Crowding-Out During the Industrial Revolution: Evidence from Hoare's Bank, 1702-1862

Peter Temin and Hans-Joachim Voth

4452: Financial Repression in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714

Peter Temin and Hans-Joachim Voth

4451: Earnings Inequality and the Business Cycle

Daniel Tsiddon and Gadi Barlevy

4450: Winners and Losers Under Various Dual Majority Rules for the EU Council of Ministers

Richard Baldwin and Mika Widgrén

4449: Privatization and Stock Market Liquidity

Frank de Jong, Bernardo Bortolotti, Giovanna Nicodano and Ibolya Schindele

4448: Investor Sentiment and Pre-Issue Markets

Francesca Cornelli, Alexander Ljungqvist and David Goldreich

4447: The Case for Open-Market Purchases in a Liquidity Trap

Alan Auerbach and Maurice Obstfeld

4446: Business Groups and Risk Sharing Around the World

Yishay Yafeh and Tarun Khanna

4445: Quantitative Goals for Monetary Policy

Andrew Rose, Fatás, Antonio and Ilian Mihov

4444: Preferences for Rigid Versus Individualized Wage Setting

Michael Burda and Tito Boeri

4443: The Education, Labour Market and Health Consequences of Child Labour

Rajeev Dehejia, Roberta Gatti and Kathleen Beegle

4442: Trade in the Triad: How Easy is the Access to Large Markets?

Fontagné, Lionel, Thierry Mayer and Soledad Zignago

4441: Economic Integration and Agglomeration in a Middle Product Economy

Jacques Thisse, Ping Wang and Shin-Kun Peng

4440: Trade Costs versus Urban Costs

Jacques Thisse, Cavailhès, Jean and Gaigné, Carl

4439: Regulated Efficiency, World Trade Organization Accession and the Motor Vehicle Sector in China

Dean Spinanger and Joseph Francois

4438: Cities and Cultures

Gianmarco Ottaviano and Giovanni Peri

4437: Are Different Rules of Origin Equally Costly? Estimates from NAFTA

Jaime de Melo and Carrère, Céline

4436: Trade Policy and the Household Distribution of Income

Joseph Francois and Hugo Rojas-Romagosa

4435: Reversing the Perspective: Multinationals from Middle-Income Countries

Peter Debaere

4434: Product Market Competition, Returns to Skill and Wage Inequality

Maria Guadalupe

4433: Monetary Union: Fiscal Stabilization In The Face of Asymmetric Shocks

David Vines, Tatiana Kirsanova and Mathan Satchi

4432: Estimating the Gains From Trade in Limit Order Markets

Burton Hollifield, Sandås, Patrik, Robert A. Miller and Joshua Slive

4431: Relative and Absolute Incentives: Evidence on Worker Productivity

Oriana Bandiera, Iwan Barankay and Imran Rasul

4430: Heterogenous Wage Formation Under A Common Monetary Policy

Torben M Andersen

4429: Spurious Growth in German Output Data, 1913-1938

Albrecht Ritschl

4428: Technology, Organization and Productivity in Services: Lessons from Britain and the United States Since 1870

Stephen Broadberry and Sayantan Ghosal

4427: Macroeconomic Consequences of Terror: Theory and the Case of Israel

Zvi Eckstein and Daniel Tsiddon

4426: Technology Shocks and Job Flows

Claudio Michelacci and López-Salido, J David

4425: Executive Compensation and Competition in the Banking and Financial Sectors

Cuñat, Vicente and Maria Guadalupe

4424: Is Deposit Insurance A Good Thing, And If So, Who Should Pay for It?

Alan Morrison and Lucy White

4423: A Decision-Theoretic Basis for Choice Shifts in Groups

Debraj Ray, Ronny Razin and Kfir Eliaz

4422: Spanning Tests in Return and Stochastic Discount Factor Mean Variance Frontiers: A Unifying Approach

Enrique Sentana and Peñaranda, Francisco

4421: Who's Who in Crime Networks: Wanted - The Key Player

Yves Zenou, Calvó-Armengol, Antoni and Coralio Ballester