CEPR Discussion Papers

From Centre for Economic Policy Research
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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

5442: Leniency Policies and Illegal Transactions

Giancarlo Spagnolo and Paolo Buccirossi

5441: Clientelism and Aid

Georges Casamatta and Charles Vellutini

5440: Trends in Hours and Economic Growth

Christopher Pissarides and L. Rachel Ngai

5439: Does Immigration Affect the Long-Term Educational Outcomes of Natives? Quasi-Experimental Evidence

Eric Gould, Victor Lavy and M. Daniele Paserman

5438: Hours of Work and Gender Identity: Does Part-Time Work Make the Family Happier?

Alison Booth and Jan C. van Ours

5437: Mixing Media with Two-Part Tariffs

Tommaso Valletti and Steffen Hoernig

5436: How Licensing Resolves Hold-Up: Evidence from a Dynamic Panel Data Model with Unobserved Heterogeneity

Ralph Siebert and Georg von Graevenitz

5435: Parametric Properties of Semi-Nonparametric Distributions, With Applications to Option Valuation

Enrique Sentana, Mencía, Javier and León, à Ngel

5434: A Mechanism-Design Approach to Speculative Trade

Ran Spiegler and Kfir Eliaz

5433: Speculative Contracts

Ran Spiegler and Kfir Eliaz

5432: The Ownership of Ratings

Antoine Faure-Grimaud, Peyrache, Eloïc and Lucía Quesada

5431: Labour and Product Market Reforms in the Economy with Distortionary Taxation

Andrew Hughes Hallett and Nikola Bokan

5430: Stuck on Gold: Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard, 1870-1939

Alan Taylor, David Jacks and Natasha Chernyshoff

5429: Machines as Engines of Growth

Joseph Zeira

5428: Technological Revolutions and Stock Prices

Pietro Veronesi and Pástor, Luboš

5427: Admission to Selective Schools, Alphabetically

Münich, Daniel and Stepan Jurajda

5426: Monitoring Works: Getting Teachers to Come to School

Esther Duflo and Rema Hanna

5425: Distribution Risk and Equity Returns

Jean-Pierre Danthine, Paolo Siconolfi and John B Donaldson

5424: Optimal Inflation Stabilization in a Medium-Scale Macroeonomic Model

Martín Uribe and Schmitt-Grohé, Stephanie

5423: Does Bilateralism Promote Trade? Nineteenth Century Liberalization Revisited

Marc Flandreau and Olivier Accominotti

5422: Innovation, Machine Replacement and Productivity

Omar Licandro, Luis Puch and Maroto Illera, María Reyes

5421: Do Men and Women Economists Choose the Same Research Fields?: Evidence From Top 50 Departments

Juan Dolado, Florentino Felgueroso and Miguel Almunia

5420: Demand-Based Option Pricing

Lasse Pedersen, Nicolae Bogdan Garleanu and ,

5419: Where did the Productivity Growth Go? Inflation Dynamics and the Distribution of Income

Robert Gordon and Ian Dew-Becker

5418: Did Vasco da Gama Matter for European Markets? Testing Frederick Lane's Hypotheses Fifty Years Later

Jeffrey Williamson and Kevin O'Rourke

5417: Information Gathering, Transaction Costs and the Property Rights Approach

Patrick Schmitz

5416: The Unsustainable US Current Account Position Revisited

Kenneth Rogoff and Maurice Obstfeld

5415: Top Research Productivity and its Persistence

Reinhilde Veugelers and Stijn Kelchtermans

5414: The Short-Run Dynamics of Optimal Growth Models with Delays

Omar Licandro, Luis Puch and Fabrice Collard

5413: What Caused the Decline in U. S. Business Cycle Volatility?

Robert Gordon

5412: The 1920s and the 1990s in Mutual Reflection

Robert Gordon

5411: Hot and Cold Housing Markets: International Evidence

Javier Suarez and Jose A. Ceron

5410: Consumer Lending When Lenders are More Sophisticated Than Households

Roman Inderst

5409: Growth and Entrepreneurship: An Empirical Assessment

David Audretsch, Pontus Braunerhjelm, Zoltan Acs and Bo Carlsson

5408: Modeling the Offshoring of White-Collar Services: From Comparative Advantage to the New Theories of Trade and FDI

James Markusen

5407: C-CAPM Without Ex Post Data

Söderlind, Paul

5406: The Elusive Costs and the Immaterial Gains of Fiscal Constraints

Fabio Canova and Evi Pappa

5405: The 'Sense and Nonsense of Maastricht' Revisited: What Have We Learnt About Stabilization In EMU?

Willem Buiter

5404: The Effects of Exogenous Oil Supply Shocks on Output and Inflation: Evidence from the G7 Countries

Lutz Kilian

5403: Rebalancing Growth in China: A Three-Handed Approach

Olivier Blanchard and Francesco Giavazzi

5402: The Todaro Paradox Revisited

Yves Zenou

5401: Re-election Incentives and the Sustainability of International Cooperation

Nicolas Sahuguet and Paola Conconi

5400: Discretionary Policy, Multiple Equilibria, and Monetary Instruments

Andreas Schabert

5399: What Sectors Make the Poor Countries So Unproductive?

Berthold Herrendorf and Akos Valentinyi

5398: 'Home Biases', 19th Century Style

Marc Flandreau

5397: The Logic of Compromise: Monetary bargaining in Austria-Hungary 1867-1913

Marc Flandreau

5396: Competition for Railway Markets: The Case of Baden-Württemberg

Rafael Lalive and Armin Schmutzler

5395: Time-Varying Pass-Through from Import Prices to Consumer Prices: Evidence from an Event Study with Real-Time Data

Andreas Fischer and Marlene Amstad

5392: How Costly is it for Poor Farmers to Lift Themselves out of Subsistence?

Olivier Cadot, Marcelo Olarreaga and Laure Dutoit