CEPR Discussion Papers

From Centre for Economic Policy Research
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5543: The Theory of Assortative Matching Based on Costly Signals

Benny Moldovanu, Heidrun Hoppe-Wewetzer and Aner Sela

5542: Social Security and Retirement Decision: A Positive and Normative Approach

Pierre Pestieau, Helmuth Cremer and Jean-Marie Lozachmeur

5541: Indeterminacy with Small Externalities: The Role of Non-Separable Preferences

Teresa Lloyd-Braga, Carine Nourry and Alain Venditti

5540: Optimal Tariffs: The Evidence

David Weinstein, Limão, Nuno and Christian Broda

5539: Skill Dispersion and Firm Productivity: An Analysis with Employer-Employee Matched Data

Fabiano Schivardi, Susana Iranzo and Elisa Tosetti

5538: On the Evolution of Market Institutions: The Platform Design Paradox

Georg Kirchsteiger, Carlos Alós-Ferrer and Markus Walzl

5537: The Interaction Between Capital Controls and Exchange Rate Regimes: Evidence from Developing Countries

Juergen von Hagen and Jizhong Zhou

5536: The Real Effects of EMU

Philip Lane

5535: Sticky Prices and Indeterminacy

Mark Weder

5534: Inflation Bias with Dynamic Phillips Curves

David Vines, Simon Wren-Lewis and Tatiana Kirsanova

5533: Optimal Fiscal Policy Rules in a Monetary Union

David Vines, Simon Wren-Lewis, Tatiana Kirsanova and Mathan Satchi

5532: Competition and Well-Being

Frans van Winden, Jordi Brandts and Arno Riedl

5531: Balanced Budget Rules and Aggregate Instability: The Role of Consumption Taxes

Chryssi Giannitsarou

5530: Fear of Floating and Fear of Pegging: An Empirical Analysis of De Facto Exchange Rate Regimes in Developing Countries

Juergen von Hagen and Jizhong Zhou

5529: The Empirics of International Currencies: Historical Evidence

Marc Flandreau and Clemens Jobst

5528: Bloodshed or Reforms? The Determinants of Sovereign Bond Spreads in 1870-1913 and Today

Nathan Sussman, Yishay Yafeh and Paolo Mauro

5527: Nonlinearity in Deviations from Uncovered Interest Parity: An Explanation of the Forward Bias Puzzle

Lucio Sarno, Giorgio Valente and Hyginus Leon

5526: Does Central Bank Transparency Reduce Interest Rates?

Sylvester Eijffinger, Petra Geraats and Carin Cruijsen

5525: Reassessing the Standard of Living in the Soviet Union

Elizabeth Brainerd

5524: Optimal Asset Allocation and Risk Shifting in Money Management

Suleyman Basak, Anna Pavlova and Alex Shapiro

5523: Competition for Order Flow and Smart Order Routing Systems

Thierry Foucault and Albert Menkveld

5522: Optimal Monetary Policy in a Small Open Economy with Home Bias

Tommaso Monacelli and Ester Faia

5521: Pervasive Stickiness (Expanded Version)

N. Gregory Mankiw

5520: Household Credit in the New Europe

Fabrizio Coricelli, Debora Revoltella and Fabio Mucci

5519: The Declining Equity Premium: What Role Does Macroeconomic Risk Play?

Martin Lettau, Sydney Ludvigson and Jessica Wachter

5518: Competition and Entry in Banking: Implications for Stability and Capital Regulation

Arnoud Boot and Matej Marinč

5517: Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey

Gert Wagner, Armin Falk, Thomas Dohmen, Uwe Sunde, Jürgen Schupp and David Huffman

5516: The Geography of Output Volatility

Jonathan Temple and Adeel Malik

5515: Growth and Labour Markets in Developing Countries

Jonathan Temple and Mathan Satchi

5514: Birth Order and Sibship Sex Composition as Instruments in the Study of Education and Earnings

Robert Gary-Bobo, Ana Prieto and Nathalie Picard

5513: Estimating Macroeconomic Models: A Likelihood Approach

Rubio-Ramírez, Juan Francisco and Fernández-Villaverde, Jesús

5512: International Portfolio Equilibrium and the Current Account

Robert Kollmann

5511: Vying for Foreign Direct Investment: An EU-Type Model of Tax Competition

Assaf Razin and Efraim Sadka

5510: Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?

Anjan Thakor, Arnoud Boot and Radhakrishnan Gopalan

5509: Growth in Euro Area Labour Quality

Jarkko Turunen and Guido Schwerdt

5508: Markets: The Fulton Fish Market

Kathryn Graddy

5507: Diagnosing Discrimination: Stock Returns and CEO Gender

Justin Wolfers

5506: Unequal Pay or Unequal Employment? A Cross-Country Analysis of Gender Gaps

Barbara Petrongolo and Claudia Olivetti

5505: Does Culture Affect Economic Outcomes?

Luigi Guiso, Luigi Zingales and Paola Sapienza

5504: Pricing Behaviour and the Response of Hours to Productivity Shocks

Francesco Nucci and Domenico J. Marchetti

5503: Are Specific Skills an Obstacle to Labour Market Adjustment? Theory and an Application to the EU Enlargement

Ana Lamo, Etienne Wasmer and Julian Messina

5502: India's Public Finances: Excessive Budget Deficits, a Government-Abused Financial System and Fiscal Rules

Willem Buiter and Urjit R. Patel

5501: Cyclical Productivity in Europe and the United States, Evaluating the Evidence on Returns to Scale and Input Utilization

Robert Inklaar

5500: Bottom-Up Corporate Governance

David Thesmar, Augustin Landier and David Sraer

5499: Democracy and Development: The Devil in the Details

Torsten Persson and Guido Tabellini

5498: Israel, the Palestinian Factions and the Cycle of Violence

David Jaeger and M. Daniele Paserman

5497: Choosing the Stick or the Carrot? Endogenous Institutional Choice in Social Dilemma Situations

Matthias Sutter, Martin Kocher and Stefan Haigner

5496: Social Networks in the Boardroom

Francis Kramarz and David Thesmar

5495: Bargaining with Imperfect Enforcement

Mark Williams and Lucy White

5494: Information in Mechanism Design

Dirk Bergemann and Välimäki, Juuso

5493: Uses and Abuses of Empirical Evidence in the Death Penalty Debate

John Donohue and Justin Wolfers

5492: The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India

Philippe Aghion, Fabrizio Zilibotti and Stephen Redding

5491: Valuation in Over-the-Counter Markets

Darrell Duffie, Lasse Pedersen and Nicolae Bogdan Garleanu

5490: Trade and the Great Divergence: The Family Connection

Oded Galor and Andrew Mountford

5489: Civic Attitudes and the Design of Labour Market Institutions: Which Countries Can Implement the Danish Flexicurity Model?

Pierre Cahuc and Yann Algan

5488: Moral Hazard and the Demand for Health Services: A Matching Estimator Approach

Pedro Barros, Matilde Machado and Anna Sanz-de-Galdeano

5487: Shadow Sorting

Tito Boeri and Pietro Garibaldi

5486: The Returns to Seniority in France (and Why are They Lower than in the United States?)

Mosche Buchinsky, Francis Kramarz, Fougère, Denis, Thierry Kamionka and Magali Beffy

5485: Forecasting Economic Aggregates by Disaggregates

David Hendry and Kirstin Hubrich

5484: What's So Special About China's Exports?

Dani Rodrik

5483: The Social Cost of Foreign Exchange Reserves

Dani Rodrik

5482: Entry and Regulation - Evidence from Health Care Professions

Frank Verboven and Catherine Schaumans

5481: Patents, Imitation and Licensing in an Asymmetric Dynamic R&D Race

Chaim Fershtman and Sarit Markovich

5480: Antitrust in Open Economies

Henrik Horn and Joseph Francois

5479: Long-Term Public Debt and the Fiscal Theory of the Price Level

Pietro Reichlin and Gaetano Bloise

5478: The European Commission - Appointment, Preferences and Institutional Relations

Mika Widgrén and Stefan Napel

5477: Rags in the High Rent District: The Evolution of Quota Rents in Textiles and Clothing

Joseph Francois and Wörz, Julia

5476: Happiness and the Human Development Index: Australia is NOT a Paradox

Justin Wolfers and ,

5475: Service Offshoring, Productivity and Employment: Evidence from the US

Shang-Jin Wei and Mary Amiti

5474: Individual vs. Parental Consent in Marriage: Implications for Intra-Household Resource Allocation and Growth

Lagerlöf, Nils-Petter and Lena Edlund

5473: Purchasing Power Parity and Heterogenous Mean Reversion

Kees Koedijk, Ben Tims and Mathijs van Dijk

5472: Children Reading Fiction Books Because They Want To

Jan C. van Ours

5471: Market and Public Provision in the Presence of Human Capital Externalities

Gianni De Fraja

5470: Central Bank Independence, Accountability and Transparency: Complements or Strategic Substitutes?

Andrew Hughes Hallett and Jan Libich

5469: The Circulation of Ideas: Firms Versus Markets

Enrico Perotti and Thomas Hellmann

5468: A Market Microstructure Analysis of Foreign Exchange Intervention

Paolo Vitale

5467: Monetary Policy and the Evolution of the US Economy

Fabio Canova

5466: Macroeconomic Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty and Risk

Justin Wolfers and Gürkaynak, Refet

5465: Optimal Fines in the Era of Whistleblowers

Giancarlo Spagnolo and Paolo Buccirossi

5464: Five-Equation Macroeconomics: A Simple View of the Interactions Between Fiscal Policy and Monetary Policy

David Vines, Tatiana Kirsanova and Sven Jari Stehn

5463: Has Monetary Policy Become More Effective?

Marc Giannoni and Jean Boivin

5462: Estimating the Intertemporal Risk-Return Tradeoff Using the Implied Cost of Capital

Pástor, Luboš, Meenakshi Sinha and Bhaskaran Swaminathan

5461: The Role of Advertising in Commercial Banking

Evren Örs,

5460: Sudden Deaths: Taking Stock of Political Connections

David Parsley and Mara Faccio

5459: Search and Matching in Macroeconomics

Eran Yashiv

5458: The Swing Voter's Curse in the Laboratory

Marco Battaglini, Thomas Palfrey and Rebecca Morton

5457: Structural Changes in the US Economy: Bad Luck or Bad Policy?

Fabio Canova and Luca Gambetti

5456: Minimum Wages and Firm Profitability

Stephen Machin, John van Reenen and Mirko Draca

5455: Performance Related Pay and Labour Productivity

Jan C. van Ours, Anne Gielen and Marcel J M Kerkhofs

5454: Technological Progress and Regress in Pre-Industrial Times

Omer Moav, Carl-Johan Dalgaard and Shekhar Aiyar

5453: Birth Order Matters: The Effect of Family Size and Birth Order on Educational Attainment

Alison Booth and Hiau Joo Kee

5452: Protection for Sale Made Easy

Richard Baldwin and Frederic Robert-Nicoud

5451: Global Risk, Investment and Emotions

Frans van Winden and R.A.j Bosman

5450: National Treatment in the GATT

Henrik Horn

5449: The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists

Lars Persson and Norbäck, Pehr-Johan

5448: Strong and Weak Ties in Employment and Crime

Thierry Verdier, Yves Zenou and Calvó-Armengol, Antoni

5447: A New International Division of Labour in Europe

Dalia Marin

5446: Remedying Education: Evidence from Two Randomized Experiments in India

Abhijit Banerjee, Esther Duflo, Shawn Cole and Leigh Linden

5444: What You Export Matters

Dani Rodrik, Ricardo Hausmann and ,

5443: A Dual Policy Paradox: Why Have Trade and Immigration Policies Always Differed in Labour-Scarce Economies?

Timothy Hatton and Jeffrey Williamson