CEPR Discussion Papers

From Centre for Economic Policy Research
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4048: Communication Externalities in Cities

Gilles Duranton and Sylvie Charlot

4047: Durable Goods with Quality Differentiation

Roman Inderst

4046: The Labour Market Effects of Payroll Taxes in a Middle-Income Country: Evidence from Colombia

Adriana Kugler and Maurice Kugler

4045: The Changing Distribution of Male and Female Wages, 1978-2000: Can the Simple Skills Story be Rejected?

Amanda Gosling

4044: Democratic Public Good Provision

Fabrizio Zilibotti, John Hassler and Kjetil Storesletten

4043: Structural Reforms and the Macroeconomy: The Role of General Equilibrium Effects

Hans Gersbach

4042: The Dynamics of Government: A Positive Analysis

Fabrizio Zilibotti, John Hassler and Kjetil Storesletten

4041: Distance and FDI When Contracts are Incomplete

Gianmarco Ottaviano and Alessandro Turrini

4040: National versus International Mergers in Unionised Oligopoly

Sørgard, Lars and Kjell Lommerud

4039: Inside-Outside Money Competition

Ramon Marimon, Pedro Teles and Juan Pablo Nicolini

4038: Relative Performance Evaluation Contracts and Asset Market Equilibrium

Allan Timmermann and Sandeep Kapur

4037: Properties of Optimal Forecasts

Allan Timmermann and Andrew Patton

4036: Responsive Pricing

Pascal Courty and Mario Pagliero

4035: Dynamic Yardstick Regulation

Antoine Faure-Grimaud and Reiche, Sönje Kerrin

4034: Trading Volume with Career Concerns

Andrea Prat and Amil Dasgupta

4033: Panel Index VAR Models: Specification, Estimation, Testing and Leading Indicators

Fabio Canova and Matteo Ciccarelli

4032: Trade Liberalization and Developing Countries Under the Doha Round

Joseph Francois, Frank van Tongeren and Hans Meijl

4031: Job Protection Laws and Agency Problems Under Asymmetric Information

Patrick Schmitz

4030: Why Do Emerging Economies Borrow in Foreign Currency?

Olivier Jeanne

4029: Urban Labour Economic Theory

Yves Zenou

4028: The Spatial Aspects of Crime

Yves Zenou

4027: Financial Integration: A New Methodology and an Illustration

Robert Flood and Andrew Rose

4026: Competition and Quality: Evidence from the NHS Internal Market 1991-9

Simon Burgess, Carol Propper and Denise Gossage

4025: Uncertainty and Company Investment Dynamics: Empirical Evidence for UK Firms

Stephen Roy Bond, John van Reenen and Nicholas Bloom

4024: Institutional Subversion: Evidence from Russian Regions

Ekaterina Zhuravskaya, Irina Slinko and Evgeny Yakovlev

4023: Trade Reforms and Wage Inequality in Colombia

Orazio Attanasio, Nina Pavcnik and Pinelopi Goldberg

4022: Real-Time Hierarchical Resource Allocation with Quadratic Costs

Timothy Van Zandt

4021: Heterogeneity in R&D Cooperation Strategies

Reinhilde Veugelers, Rene Belderbos, Martin Carree, Boris Lokshin and Bert Diederen

4020: Mark-Up Fluctuations and Fiscal Policy Stabilization in a Monetary Union

Roel Beetsma and Henrik Jensen

4019: Explaining Trends in UK Immigration

Timothy Hatton

4018: Heckscher-Ohlin Theory and Individual Attitudes Towards Globalization

Kevin O'Rourke

4017: Investor Protection and Equity-Holdings: An Explanation of Two Puzzles?

Yrjö Koskinen and Mariassunta Giannetti

4016: The Optimal Capital Structure of an Economy

Hans Gersbach

4015: The Effects of Competition and Equal Treatment Laws on the Gender Wage Differential

Rudolf Winter-Ebmer and Doris Weichselbaumer

4014: The Transmission Mechanism in a Changing World

Michael Artis, Massimiliano Marcellino and Galvão, Ana Beatriz

4013: Independent Yet Cooperative: The ECB

Sylvester Eijffinger and Edin Mujagic

4012: Monetary Policy Rules in an Interdependent World

Robert Kollmann

4011: Employment, Family Union and Childbearing Decisions in Great Britain

Simon Burgess, Carol Propper, Arnstein Aassve and Matt Dickson

4010: Incentives in the Public Sector: Some Preliminary Evidence from a UK Government Agency

Simon Burgess, Carol Propper, Marisa Ratto and Emma Tominey

4009: Auctions with Weakly Assymmetric Interdependent Values

Aner Sela, Arieh Gavious and Gadi Fibich

4008: The Macroeconomics of Delegated Management

Jean-Pierre Danthine and John B Donaldson

4007: Government Gains from Self-Restraint: A Bargaining Theory of Inefficient Redistribution Policies

Allan Drazen and Limão, Nuno

4006: Dynamic Optimal Taxation with Private Information

Christopher Sleet and Stefania Albanesi

4005: Precautionary Saving and Consumption Smoothing Across Time and Possibilities

Philippe Weil and Miles Kimball

4004: Foreign Aid Designed to Diminish Terrorist Atrocities can Increase Them

Michael Spagat and Michael Mandler

4003: Unilingual versus Bilingual Education System: A Political Economy Analysis

Javier Ortega and Thomas Tangeraas

4002: Stock Prices and IPO Waves

Pietro Veronesi and Pástor, Luboš

4001: Two Naked Emperors? Concerns about the Stability and Growth Pact and Second Thoughts About Central Bank Independence

Willem Buiter

4000: What Drives Bank Competition? Some International Evidence

Stijn Claessens and Luc Laeven

3999: The Spatial Distribution of Economic Activities in the EU

Pierre-Philippe Combes and Henry Overman

3998: Cross-Border Acquisitions and Greenfield Entry: Profitability and Stock Market Value

Lars Persson and Norbäck, Pehr-Johan

3997: Model Uncertainty, Thick Modelling and the Predictability of Stock Returns

Carlo Favero and Marco Aiolfi

3996: Credit, Wages and Bankruptcy Laws

Bruno Biais and Thomas Mariotti

3995: International Product Market Integration, Rents and Wage Formation

Torben M Andersen and Allan Sørensen

3994: Disruptive Technologies and the Emergence of Competition

Peter Zemsky and Ron Adner

3993: Does Education Raise Productivity or Just Reflect It?

Ian Walker, Colm Harmon, Arnaud Chevalier and Yu Zhu

3992: The Proper Scope of Governments When Costs are Contractible

Espen Moen and ,

3991: Divide et Impera: Optimal Deterrence Mechanisms Against Cartels and Organized Crime

Giancarlo Spagnolo

3990: Protecting Against Labour Market Risk: Employment Protection or Unemployment Benefits?

Tito Boeri, Vincenzo Galasso and J. Ignacio Conde-Ruiz

3989: Domestic Labour Markets and Foreign Direct Investment

Jan I. Haaland and Ian Wooton

3988: Market Definition in the Telecoms Industry

Jordi Gual

3987: Price Discovery in Fragmented Markets

Frank de Jong and Peter C Schotman

3986: Equilibrium Search Unemployment, Endogenous Participation and Labour Market Flows

Pietro Garibaldi and Etienne Wasmer

3985: The Empirics of Agglomeration and Trade

Thierry Mayer and Keith Head

3984: Why Does FDI Go Where it Goes? New Evidence from the Transitional Economies

Yuko Kinoshita and Nauro Campos

3983: Monetary Fundamentals and Exchange Rate Dynamics under Different Nominal Regimes

Lucio Sarno, Giorgio Valente and Mark Wohar

3982: Cultural Diversity, Status Concerns and the Organization of Work

Chaim Fershtman, Yoram Weiss and Hans Hvide

3981: Business Cycles, the Current Account and Administered Protection in Mexico

Joseph Francois and Gunnar Niels

3980: The BMW Model: Simple Macroeconomics for Closed and Open Economies - A Requiem for the IS/LM-AS/AD and the Mundell-Fleming Mode

Peter Bofinger, Wollmershäuser, Timo and Eric Mayer

3979: The Effect of Search Frictions on Wages

Gerard van den Berg and Aico van Vuuren

3978: Measuring Labour Market Frictions: A Cross-Country Comparison

Gerard van den Berg and Geert Ridder

3977: Multiple Equilibria and Minimum Wages in Labour Markets with Informational Frictions and Heterogenous Production Technologies

Gerard van den Berg

3976: Endogenous Contracts Under Bargaining in Competing Vertical Chains

Nikolaos Vettas, Emmanuel Petrakis and Chrysovalantou Milliou

3975: Precautionary Bidding in Auctions

Lucy White and Esö, Péter

3974: Innovations, Patent Races and Endogenous Growth

Joseph Zeira

3973: Provincial Protectionism

Konstantin Sonin

3972: Red Tape and Corruption

Sergei Guriev

3971: Financial Contracting with Optimistic Entrepreneurs: Theory and Evidence

David Thesmar and Augustin Landier

3970: It's All About Connections: Evidence on Network Formation

Armin Falk and Michael Kosfeld

3969: Coagglomeration and Growth

Eric Strobl, Salvador Barrios and ,

3968: Mismatch, Transport Mode and Search Decisions in England

Yves Zenou and Eleonora Patacchini

3967: Density, Social Networks and Job Search Methods: Theory and Application to Egypt

Yves Zenou and Jackline Wahba

3966: Social Networks and Crime Decisions: The Role of Social Structure in Facilitating Delinquent Behaviour

Yves Zenou and Calvó-Armengol, Antoni

3965: Identification and Estimation of Dynamic Games

Martin Pesendorfer and Philipp Schmidt-Dengler

3964: Tender Offers and Leverage

Fausto Panunzi and Holger Mueller

3963: The Transmission of US Shocks to Latin America

Fabio Canova

3962: Adaptive Learning and Monetary Policy Design

Seppo Honkapohja and George Evans

3961: Executive Compensation as an Agency Problem

Lucian Bebchuk and Jesse Fried

3960: Agglomeration and Regional Growth

Richard Baldwin and Philippe Martin

3959: Product Choice and Product Switching

Andrew Bernard, Stephen Redding and Peter Schott

3958: Core-Periphery Patterns of Generalized Transport Costs: France, 1978-98

Pierre-Philippe Combes and Miren Lafourcade

3957: Estimating the Probability of Leaving Unemployment Using Uncompleted Spells from Repeated Cross-Section Data

Güell, Maia and Luojia Hu

3956: The Macroeconomics of Shareholder Pressure

David Thesmar

3955: Pension Fund Governance and the Choice Between Defined Benefit and Defined Contribution Plans

Timothy Besley and Andrea Prat

3954: The Manufacturer's Suggested Retail Price

Stephanie Rosenkranz

3953: Informative Advertising and Product Differentiation

Nikolaos Vettas and Charalambos Christou

3952: Foreign Ownership and Corporate Income Taxation: An Empirical Evaluation

Harry Huizinga and Nicodème, Gaëtan

3951: R&D Cooperation Between Firms and Universities: Some Empirical Evidence from Belgian Manufacturing

Reinhilde Veugelers and Bruno Cassiman

3950: Aging Population and Education Finance

Mark Gradstein and Michael Kaganovich

3949: Recursive Preferences and Balanced Growth

Roger Farmer and Amartya Lahiri