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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1512: Unemployment and Wages of Ethnic Germans

Thomas Bauer and Klaus Zimmermann

1511: Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets

Lars Svensson

1510: Price-level Targeting versus Inflation Targeting: A Free Lunch?

Lars Svensson

1509: Current Account Sustainability: Selected East Asian and Latin American Experiences

Gian Maria Milesi-Ferretti and Assaf Razin

1508: International Implications of German Unification

Hans-Werner Sinn

1507: Is the Natural Rate a Reference Point?

Marika Karanassou and Dennis Snower

1506: Trust and Search in Vietnam's Emerging Private Sector

Stephan Haggard, John McMillan and Christopher Woodruff

1505: Four Essays and a Funeral: Budgetary Arithmetic under the Maastricht Treaty

Andrew Hughes Hallett and Peter McAdam

1504: The Burden of Intervention: Externalities in Multilateral Exchange Rates Arrangements

Marc Flandreau

1503: Does Inflation Matter for Growth?

Thorvaldur Gylfason and Tryggvi Herbertsson

1502: Multilateral Disciplines on Government Procurement: What's In It For Developing Countries?

Bernard Hoekman

1501: Trade and Competition Policy in the WTO system

Bernard Hoekman

1500: International Migration, Welfare and the Provision of Public Goods

Konstantine Gatsios, Panos Hatzipanayotou and Mike Michael

1499: Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?

Jordi Galí

1498: Do Exchange Rates Move to Address International Macroeconomic Imbalances?

Matthew Canzoneri, Javier Vallés Liberal and José Viñals

1497: Investment and Demand Uncertainty

Luigi Guiso and Giuseppe Parigi

1496: More Equal but Less Mobile? Education Financing and Intergenerational Mobility in Italy and in the United States

Daniele Checchi, Andrea Ichino and Aldo Rustichini

1495: The Rise and Fall of Elites: A Theory of Economic Development and Social Polarization in Rent-seeking Societies

Thierry Verdier

1494: Property Rights, Corruption and the Allocation of Talent: A General Equilibrium Approach

Daron Acemoglu and Thierry Verdier

1493: Macroeconomic Policy in the Presence of Structural Maladjustment

Robert Gordon

1492: The Time-varying NAIRU and its Implications for Economic Policy

Robert Gordon

1491: The Effect of Immigrant Admission Criteria on Immigrant Labour Market Characteristics

Alan Barrett

1490: Small Firms, Contracting-out, Computers and Wage Inequality: Evidence from UK Manufacturing

Jonathan Haskel

1489: Phases of Imitation and Innovation in a North-South Endogenous Growth Model

Michael Chui, David Currie, Paul Levine and Joseph Pearlman

1488: Debt, Cash Flow and Inflation Incentives: A Swedish Example

Mats Persson, Torsten Persson and Lars Svensson

1487: Expertise, Contingent Fees, and Excessive Litigation

Winand Emons

1486: Toeholds and Takeovers

Jeremy I. Bulow, Ming Huang and Paul Klemperer

1485: Monetary Union and European Unemployment

Juan F Jimeno and José Viñals

1484: Operationalizing the Theory of Optimum Currency Areas

Tamim Bayoumi and Barry Eichengreen

1483: Short- and Long-run Phillips Trade-offs and the Cost of Disinflationary Policies

Juan Dolado, David Lopez-Salido and Juan Vega

1482: Distribution of Export Price Risk in a Developing Country

François Bourguignon, Sylvie Lambert and Akiko Suwa Eisenmann

1481: Is a Two-speed System in Europe the Answer to the Conflict between the German and the Anglo-Saxon Models of Monetary Control?

Maria Demertzis and Andrew Hughes Hallett

1480: Is Technical Analysis in the Foreign Exchange Market Profitable? A Genetic Programming Approach

Robert Dittmar, Christopher Neely and Paul Weller

1479: Public Investment and Endogenous Growth in a Small Open Economy

George Alogoskoufis and Sarantis Kalyvitis

1478: Decentralized Trade, Entrepreneurial Investment and the Theory of Unemployment

Melvyn Coles

1477: On the Taxation of Human and Physical Capital in Models of Endogenous Growth

Gian Maria Milesi-Ferretti and Nouriel Roubini

1476: The Effects of Migration on the Relative Demand of Skilled versus Unskilled Labour: Evidence from Spain

Juan Dolado, Rosa Duce and Juan F Jimeno

1475: Separation of Powers and Accountability: Towards a Formal Approach to Comparative Politics

Torsten Persson, Gérard Roland and Guido Tabellini

1474: Asia-Pacific Food Markets and Trade in 2005: A Global, Economy-wide Perspective

Kym Anderson, Betina Dimaranan, Thomas Hertel and Will Martin

1473: The Endogeneity of the Optimum Currency Area Criteria

Jeffrey Frankel and Andrew Rose

1472: Market Transparency, Competitive Pressure and Price Volatility

Kai-Uwe Kühn and Catalina Martínez

1471: Incapacity Benefits versus Benefit Transfers

Mike Orszag and Dennis Snower

1470: Who Gets Over the Training Hurdle? A Study of the Training Experiences of Young Men and Women in Britain

Wiji Arulampalam and Alison Booth

1469: European Anti-dumping Policy and the Profitability of National and International Collusion

Hylke Vandenbussche and Reinhilde Veugelers

1468: Promoting an Effective Market Economy in a Changing World

Willem Buiter, Ricardo Lago and Nicholas Stern

1467: R&D Spillovers and Global Growth

Tamim Bayoumi, David Coe and Elhanan Helpman

1466: Interpreting the ERM Crisis: Country-Specific and Systemic Issues

Willem Buiter, Giancarlo Corsetti and Paolo Pesenti

1465: Growth Effects of European Integration

Magnus Henrekson and Rasha Torstensson

1464: Relative Labour Productivity and the Real Exchange Rate in the Long Run: Evidence for a Panel of OECD Countries

Matthew Canzoneri, Robert Cumby and Behzad Diba

1463: Fiscal Constraints on Central Bank Independence and Price Stability

Matthew Canzoneri and Behzad Diba

1462: Migration as Disaster Relief: Lessons from the Great Irish Famine

Cormac O'Gráda and Kevin O'Rourke

1461: Is Child Like Parent? Educational Attainment and Ethnic Origin

Ira Gang and Klaus Zimmermann

1460: Why do Firms Train? Theory and Evidence

Daron Acemoglu and Jorn-Steffen Pischke

1459: Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence

Daron Acemoglu

1458: The Prospects of a Mini Currency Union in 1999

Paul De Grauwe

1457: Inflation Targeting to Achieve Inflation Convergence in the Transition Towards EMU

Paul De Grauwe

1456: Monetary Policy, Forward Rates and Long Rates: Does Germany Differ from the United States?

Carlo Favero, Fabrizio Iacone and Marco Pifferi

1455: Vertical Product Differentiation and Entry Deterrence

Stefan Lutz

1454: Arbitrage, Hedging and Financial Innovation

Malcolm Davidson

1453: Contagious Currency Crises

Barry Eichengreen, Andrew Rose and Charles Wyplosz

1452: Transition Dynamics and Trade Policy Reform in Developing Countries

Joseph Francois, Håkan Nordström and Clinton R. Shiells

1451: Relative Prices, Trade and Restructuring in European Industry

Damien Neven and Charles Wyplosz

1450: Inequality and Growth

Roland Benabou

1449: Profitability, Fiscal Policy, and Exchange Rate Regimes

Philip Lane and Roberto Perotti

1448: Regional Integration and Lobbying for Tariffs Against Non-members

Olivier Cadot, Jaime de Melo and Marcelo Olarreaga

1447: Pricing Policy Under Double Market Power: Madagascar and the International Vanilla Market

Jaime de Melo, Marcelo Olarreaga and Wendy Takacs

1446: Competition in Multi-characteristics Spaces: Hotelling was Almost Right

Andreas Irmen and Jacques Thisse

1445: Trade, Wages and the Persistence of Underdevelopment

Graziella Bertocchi

1444: Did Colonization Matter for Growth? An Empirical Exploration into the Historical Causes of Africa's Underdevelopment

Graziella Bertocchi and Fabio Canova

1443: Vertical Product Differentiation, Quality Standards, and International Trade Policy

Stefan Lutz

1442: The Optimal Speed of Transition: A General Equilibrium Analysis

Micael Castanheira and Gérard Roland

1441: Competition Policy in Portugal

Pedro Barros and José Mata

1440: Social Policy Dimensions of Economic Integration: Environmental and Labour Standards

Kym Anderson

1439: R&D Alliances as Non-cooperative Supergames

Luis Cabral

1438: Understanding Labour Market Institutions: A Political Economy Perspective

Gilles Saint-Paul

1437: Optimal Regional Redistribution Under Asymmetric Information

Massimo Bordignon, Paolo Manasse and Guido Tabellini

1436: Common Agency and Coordination: General Theory and Application to Tax Policy

Avinash Dixit, Gene Grossman and Elhanan Helpman

1435: Regional Integration, Scale Economies and Industry Location in the European Union

Marius Brülhart

1434: Technology and Changes in Skill Structure: Evidence from an International Panel of Industries

Stephen Machin and John van Reenen

1433: How Persistently do Firms Innovate?

Paul Geroski, Hossein Samiei and John van Reenen

1430: Employment, Macroeconomic Fluctuations and Job Security

María del Pilar Díaz-Vázquez and Dennis Snower

1429: The Role of Market Size in the Formation of Jurisdictions

Alessandra Casella

1428: Voting for Jobs: Policy Persistence and Unemployment

Gilles Saint-Paul

1427: 'Actual' versus 'Virtual' Employment in Europe: Is Spain Different?

Ramon Marimon and Fabrizio Zilibotti

1426: Was Prometheus Unbound by Chance? Risk, Diversification and Growth

Daron Acemoglu and Fabrizio Zilibotti

1425: Regional Growth in Japan

Etsuro Shioji

1424: Fuzzy Transition and Firm Efficiency: Evidence from Bulgaria, 1991-4

Simeon Djankov and Bernard Hoekman

1423: Background Uncertainty and the Demand for Insurance Against Insurable Risks

Luigi Guiso and Tullio Jappelli

1422: Do Capital Market Imperfections Exacerbate Output Fluctuations?

Philippe Bacchetta and Ramon Caminal

1421: Agency Costs in the Process of Development

Daron Acemoglu and Fabrizio Zilibotti

1420: Trade-induced Investment-led Growth

Richard Baldwin and Elena Seghezza

1419: Unequal Societies

Roland Benabou

1418: Mechanisms for Achieving Monetary Stability: Inflation Targeting Versus the ERM

Matthew Canzoneri, Charles Nolan and Anthony Yates

1417: Trends in European Productivity and Real Exchange Rates: Implications for the Maastricht Convergence Criteria and for Inflation Targets after EMU

Matthew Canzoneri, Behzad Diba and Gwen Fudey

1416: Competition Policy in Switzerland

Damien Neven and Thomas von Ungern-Sternberg

1415: Effective Protection and Investment Incentives in Egypt and Jordan During the Transition to Free Trade with Europe

Simeon Djankov and Bernard Hoekman

1414: The Use of SDRs in the Financing of Official Safety-net Mechanisms

Marcello De Cecco and Francesco Giavazzi

1413: Technological Progress, Mobility, and Economic Growth

Oded Galor and Daniel Tsiddon

1412: Public Procurement: A Post-Uruguay Round Perspective

Joseph Francois, Douglas Nelson and David Palmeter

1411: Trade Liberalization and Investment in a Multilateral Framework

Joseph Francois, Brad McDonald and Håkan Nordström