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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2413: European Financial Markets After EMU: A First Assessment

Francesco Giavazzi, Jean-Pierre Danthine and Ernst-Ludwig von Thadden

2412: Should Argentina Adopt The US Dollar?

Andrew Hughes Hallett and Myrvin L. Anthony

2411: On Regional Monetary Arrangements For ASEAN

Barry Eichengreen, Tamim Bayoumi and Paolo Mauro

2410: Hiring And Firing Costs, Adverse Selection And The Persistence Of Unemployment

Gilles Saint-Paul and Adriana Kugler

2409: Looking Into The Black Box: A Survey Of The Matching Function

Christopher Pissarides and Barbara Petrongolo

2408: Is There A Wage Premium for Returning Irish Migrants?

Alan Barrett and Philip O'Connell

2407: Monetary Institutions, Monopolistic Competition, Unionized Labour Markets And Economic Performance

Alex Cukierman, Fabrizio Coricelli and Alberto Dalmazzo

2406: Can Competition Replace Regulation for Small Utility Customers?

Richard Green

2405: Political Risk And Irreversible Investment: Theory And An Application To Quebec

Sumru Altug, Fanny Demers and Michel Demers

2404: Earnings, Unemployment, And Housing: Evidence From A Panel Of British Regions

John Muellbauer and Gavin Cameron

2403: A Simple Dynamic General Equilibrium Model Of The Tradeoff Between Fixed And Floating Exchange Rates

Michael Devereux

2402: Bad Politicians

Francesco Caselli and Massimo Morelli

2401: Trade Induced Technical Bias And Wage Inequalities: A Theory Of Defensive Innovations

Thierry Verdier

2400: Reference Cycles: The NBER Methodology Revisited

Marco Lippi, Lucrezia Reichlin, Marc Hallin and Mario Forni

2399: Telecommunications Infrastructure And Economic Development: A Simultaneous Approach

Röller, Lars-Hendrik and Leonard Waverman

2398: Explaining Youth Labour Market Problems In Spain: Crowding-Out, Institutions, Or Technology Shifts?

Juan Dolado, Juan F Jimeno and Florentino Felgueroso

2397: Space And Unemployment: The Labour-Market Effects Of Spatial Mismatch

Yves Zenou and Jan Brueckner

2396: Monotone Matching In Perfect And Imperfect Worlds

Andrew Newman

2395: The Decision To Invest In A Low-Wage Country: Evidence From Italian Textiles And Clothing Multinationals

Giorgio Barba Navaretti, Alessandro Turrini and Anna M Falzoni

2394: Youth Employment Policies In France

Thierry Magnac, Francis Kramarz and Fougère, Denis

2393: Monetary Policies In The Presence Of Asymmetries

Paul De Grauwe

2392: Risk Premia In The Term Structure Of Interest Rates: A Panel Data Approach

Christian Wolff and Dennis Bams

2391: Optimal Corporate Governance Structures

Javier Suarez and Andres Almazan

2390: Trade And The Rate Of Income Convergence

Dan Ben-David and Ayal Kimhi

2389: A Monetary Explanation Of The Great Stagflation Of The 1970s

Robert Barsky and Lutz Kilian

2388: Evaluating Changes In The Bank Of Spain's Intervention: An Alternative Approach Using Marked Point Processes

Juan Dolado and María-Dolores, Ramón

2387: Work Environment And Individual Background: Explaining Regional Shirking Differentials In A Large Italian Firm

Andrea Ichino and Giovanni Maggi

2386: East Germany: Transition With Unification - Experiments and Experiences

Juergen von Hagen and Rolf Strauch

2384: Optimal Speed of Transition 10 Years After

Tito Boeri

2383: The Role of Social Capital In Financial Development

Luigi Guiso, Luigi Zingales and Paola Sapienza

2382: Trade, Trade Policy and Poverty: What Are The Links?

L. Winters

2381: Elected Versus Appointed Regulators: Theory And Evidence

Timothy Besley and Stephen Coate

2380: The First Year Of The Eurosystem: Inflation Targeting Or Not?

Lars Svensson

2379: Options For The Exchange Rate Policies Of The EU Accession Countries (And Other Emerging Market Economies)

Peter Bofinger and Wollmershäuser, Timo

2378: Mommy Tracks and Public Policy: On Self-Fulfilling Prophecies and Gender Gaps in Promotion

Kjell Lommerud and Steinar Vagstad

2377: Trade in International Transport Services: The Role of Competition

Ian Wooton and Joseph Francois

2376: Nursery Cities: Urban Diversity, Process Innovation, and the Life-Cycle of Products

Gilles Duranton and Diego Puga

2375: The Term Structure of Interest Rates and Inflation Forecast Targeting

Eric Schaling, Sylvester Eijffinger and Willem Verhagen

2374: Searching for Non-Linear Effects of Fiscal Policy: Evidence from Industrial and Developing Countries

Francesco Giavazzi, Marco Pagano and Tullio Jappelli

2373: Skills, Labour Costs and Vertically Differentiated Industries: A General Equilibrium Analysis

Stefan Lutz and Alessandro Turrini

2372: The Heckscher-Ohlin Model Between 1400 and 2000: When It Explained Factor Price Convergence, When It Did Not, and Why

Jeffrey Williamson and Kevin O'Rourke

2371: Social Europe: Dramatic Visions and Real Complexity

Tito Boeri

2370: Institutions For High-Quality Growth: What They Are And How To Acquire Them

Dani Rodrik

2369: Funded and Unfunded Pensions: Risk, Return and Welfare

David Miles

2368: Why Russian Workers Do Not Move: Attachment Of Workers Through In-Kind Payments

Sergei Guriev and Guido Friebel

2367: Iceland's Natural Experiment in Supply-Side Economics

Gylfi Zoega, Marco Bianchi and Gudmundsson, Björn R

2366: Optimal Currency Areas: Why Does The Exchange Rate Regime Matter?

Willem Buiter

2365: Monetary Misconceptions: New and Old Paradigmata and Other Sad Tales

Willem Buiter

2364: Three Symptoms And A Cure: A Contribution To The Economics Of The Dutch Disease

Gylfi Zoega, Tryggvi Herbertsson and Marta Skuladottir

2363: Fast Track or Failure: A Study of the Completion Rates of Graduate Students in Economics

Jan van Ours and Geert Ridder

2362: Labour Supply and Matching Rates for Welfare Recipients: An Analysis Using Neighbourhood Characteristics

Jan van Ours and Bas van der Klaauw

2361: Modelling Financial Incentives To Get Unemployed Back To Work

Jan van Ours and Jan Boone

2360: Noisy Financial Signals and Persistent Effects of Nominal Shocks in Open Economies

Torben M Andersen and Niels C Beier

2359: Conflict of Interest in Universal Banking: Bank Lending, Stock Underwriting, and Fund Management

Oved Yosha, Yishay Yafeh and Hedva Ber

2358: Employed 40 Hours or Not Employed 39: Lessons from the 1982 Mandatory Reduction of the Workweek

Francis Kramarz and Crépon, Bruno

2357: Why Mergers Reduce Profits, and Raise Share-Prices

Johan Stennek and Sven-Olof Fridolfsson

2356: Real Exchange Rate Volatility and Economic Openness: Theory and Evidence

Harald Hau

2355: Optimal Monitoring in Hierarchical Relationships

Anke Kessler

2354: A Theory of Central Bank Accountability

Eric Schaling, Sylvester Eijffinger and Marco Hoeberichts

2353: Central Bank Independence: An Update of Theory and Evidence

Jakob de Haan, Sylvester Eijffinger and Helge Berger

2352: Sorting and Long-Run Inequality

Richard Rogerson and Fernández, Raquel

2351: Optimal Debt Contracts and Moral Hazard Along the Business Cycle

Pietro Reichlin and Paolo Siconolfi

2350: The Determinants of Host Country Spillovers from Foreign Direct Investment

Blomström, Magnus, Ari Kokko and Steven Globerman

2349: Leniency Programs and Cartel Prosecution

Michele Polo and Massimo Motta

2348: Is Tax Policy Coordination Necessary?

Apostolis Philippopoulos, Tryphon Kollintzas and Vanghelis Vassilatos

2347: Determinants of Ownership Structure: A Comparative Analysis of Multinational Firms' Preferences in Greece and Portugal

Helen Louri and Natália Barbosa

2346: A Time Varying Parameter Model to Test for Predictability and Integration in Stock Markets of Transition Economies

Michael Rockinger and Giovanni Urga

2345: Consumption Over the Life-Cycle

Pierre-Olivier Gourinchas and Jonathan Parker

2344: Optimal Capital Allocation Using RAROC And EVA

Neal Stoughton and Josef Zechner

2343: Would Collective Action Clauses Raise Borrowing Costs?

Barry Eichengreen and Ashoka Mody

2342: How Should Monetary Policy Be Conducted In An Era Of Price Stability?

Lars Svensson

2341: Targeting Nominal Income Growth or Inflation?

Henrik Jensen

2340: Is The Use Of The WTO Dispute Settlement System Biased?

Henrik Horn, Petros C Mavroidis and Håkan Nordström

2339: A Measure of Comovement for Economic Variables: Theory and Empirics

Christophe Croux, Mario Forni and Lucrezia Reichlin

2338: The Generalized Dynamic Factor Model: Identification and Estimation

Mario Forni, Marc Hallin, Marco Lippi and Lucrezia Reichlin

2337: Importance of International Linkages for Local Know-How Flows: Some Econometric Evidence From Belgium

Bruno Cassiman and Reinhilde Veugelers

2336: A Political Economy Model of Infrastructure Allocation: An Empirical Assessment

Olivier Cadot, Lars-Hendrik Röller and Andreas Stephan

2335: Network Effects, Standardization, and the Internet: What Have We Learned From The DVD Vs. DIVX Battle?

David Dranove and Neil Gandal

2334: Quantifying the Half-Life of Deviations from PPP: The Role of Economic Priors

Lutz Kilian and Tao Zha

2333: Monetary Policy Misspecification in VAR Models

Fabio Canova and Joaquim Pina

2332: Returns to Human Capital Under the Communist Wage Grid and During the Transition to a Market Economy

Daniel Münich, Jan Svejnar and Katherine Terrell

2331: The Cost of Recessions Revisited: A Reverse-Liquidationist View

Ricardo Caballero and Mohamad Hammour

2330: R&D Cooperation and Spillovers: Some Empirical Evidence

Bruno Cassiman and Reinhilde Veugelers

2329: One Money, One Market: Estimating the Effect of Common Currencies on Trade

Andrew Rose

2328: Monetary Policy Committees: Individual and Collective Reputations

Anne Sibert

2327: Option Pricing and Foreign Investment under Political Risk

Joseph A Cherian and Enrico Perotti

2326: Privacy, Time Consistent Optimal Labour Income Taxation and Education Policy

Kai Konrad

2325: Systemic Risk, Interbank Relations and Liquidity Provision by the Central Bank

Xavier Freixas, Bruno Parigi and Jean Rochet

2324: Inflation Targets and Debt Accumulation in a Monetary Union

Roel Beetsma and Lans Bovenberg

2323: Swedish Multinationals and Competition from High- and Low-Wage Locations

Henrik Braconier and Karolina Ekholm

2322: Location Choice and Price Discrimination in a Duopoly

Tommaso Valletti

2321: Inequality of Earnings

Dennis Snower

2320: Undertakings and Antidumping Jumping FDI in Europe

Rene Belderbos, Hylke Vandenbussche and Reinhilde Veugelers

2319: The Endogenous Determination of Minimum Wage

Gil Epstein and Shmuel Nitzan

2318: Immigrant Participation in Social Assistance Programs: Evidence from German Guestworkers

Regina Riphahn

2317: Convertible Securities and Venture Capital Finance

Klaus Schmidt

2316: Monetary Policy and Multiple Equilibria

Jess Benhabib, Stephanie Schmitt-Grohe and Martín Uribe

2315: Endogenous Business Cycles and the Dynamics of Output, Hours, and Consumption

Stephanie Schmitt-Grohe

2314: The Perils of Taylor Rules

Jess Benhabib, Stephanie Schmitt-Grohe and Martín Uribe

2313: Are Austrian Returns to Education Falling Over Time?

Josef Fersterer and Rudolf Winter-Ebmer