CEPR Discussion Papers

From Centre for Economic Policy Research
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2543: Why Pay More? Corporate Tax Avoidance Through Transfer Pricing in OECD Countries

Roel Beetsma and Eric Bartelsman

2542: Racial and Economic Factors in Attitudes to Immigration

Christian Dustmann and Ian Preston

2541: Measuring the Equilibrium Effects of Unemployment Benefits Dispersion

Gerard van den Berg, Geert Ridder and Aico van Vuuren

2540: Collateral, Default Risk, and Relationship Lending: An Empirical Study on Financial Contracting

Jan Krahnen

2539: Unemployment and Consumption: Are Job Losses Less Painful near the Mediterranean?

Samuel Bentolila and Andrea Ichino

2538: Extreme Correlation of International Equity Markets

Bruno H Solnik and Longin, François

2537: Nonlinear Dynamics, Spillovers and Growth in the G7 Economies: An Empirical Investigation

Lucio Sarno

2536: Why Do Firms Invest in General Training? 'Good' Firms and 'Bad' Firms as a Source of Monopsony Power

Alison Booth and Gylfi Zoega

2535: Preferential Trade Arrangements, Induced Investment, and National Income in a Heckscher-Ohlin-Ramsey Model

Joseph Francois

2534: Redistribution as a Selection Device

Grüner, Hans Peter

2533: The Theory of Human Capital Revisited: On the Interaction of General and Specific Investments

Anke Kessler and Lülfesmann, Christoph

2532: Reallocation of Corporate Resources and Managerial Incentives in Internal Capital Markets

Fausto Panunzi and Sandro Brusco

2531: What We Cannot Learn from the Irish Experience: A Fundamental Asymmetry of Asymmetric Shocks

Rikard Forslid and Fredrik Andersson

2530: License Auctions and Market Structure

Philippe Jehiel and Benny Moldovanu

2529: Currency Crises and Monetary Policy in an Economy with Credit Constraints

Philippe Bacchetta, Philippe Aghion and Abhijit Banerjee

2528: Winners and Losers from Regional Integration Agreements

Anthony Venables

2527: Victims of Progress: Economic Integration, Specialization and Wages for Unskilled Labour

Joseph Francois and Douglas Nelson

2526: Trade, FDI and Congestion - the Small and very Open Economy

Kristof Dascher

2525: Moving Skills from Hands to Heads: Import of Technology and Export Performance

Marzio Galeotti and Giorgio Barba Navaretti

2524: Outward Investment, Employment and Wages in Swedish Multinationals

Blomström, Magnus and Ari Kokko

2523: Industrial Employment, Investment Equipment and Economic Growth

Harris Dellas

2522: Eurosystem Monetary Targeting: Lessons from US Data

Lars Svensson and Glenn Rudebusch

2521: Poole Revisited

Harris Dellas, Fabrice Collard and Guy Ertz

2520: Debt Maturity and the Global Financial Architecture

Olivier Jeanne

2519: Waiting Lists and Patient Selection

Pedro Barros

2518: Education Policy Reform and the Return to Schooling from Instrumental Variables

Kevin Denny and Colm Harmon

2517: Measuring Co-Movements Between US and European Stock Markets

Carlo Favero and Alessandra Bonfiglioli

2516: The Robustness and Real Consequences of Nominal Wage Rigidity

Ernst Fehr

2515: "Close to Balance or in Surplus": A Policy Maker's Guide to the Implementation of the Stability and Growth Pact

Michael Artis and Marco Buti

2514: Emission Trading Restrictions with Endogenous Technological Change

Carlo Carraro, Marzio Galeotti, Paolo Buonanno and Efrem Castelnuovo

2513: The Demand for Private Medical Insurance in the UK: A Cohort Analysis

Carol Propper and Hedley Rees

2512: Measuring Income Risk

Simon Burgess, Stephen Jenkins, Carol Propper and Karin Gardiner

2511: The Transfer Problem Revisited: Net Foreign Assets and Real Exchange Rates

Gian Maria Milesi-Ferretti and Philip Lane

2510: The Euro as an International Currency: Explaining Puzzling First Evidence

Michael Moore, Harald Hau and William Killeen

2509: The Generalized Dynamic Factor Model: Representation Theory

Marco Lippi and Mario Forni

2508: The Monetary Transmission Mechanism: Evidence from the Industries of Five OECD Countries

Francesco Lippi and Luca Dedola

2507: An Interest Rate Defence of a Fixed Exchange Rate?

Robert Flood and Olivier Jeanne

2506: Gender, Salary and Promotion in the Academic Profession

Melanie Ward-Warmedinger

2505: Public Trading and Private Incentives

Denis Gromb and Antoine Faure-Grimaud

2504: Excessive continuation and Dynamic Agency Costs of Debt

Antoine Faure-Grimaud and Décamps, Jean Paul

2503: Subjective Discount Factors

Thomas Mariotti and Erzo Luttmer

2502: Hit Twice? Danish Evidence on the Double-Negative Effect on the Wages of Immigrant Women

Nina Smith, Michael Rosholm and Helena Nielsen

2501: Law Enforcement and Transition

Gérard Roland and Thierry Verdier

2500: Unemployment Duration and Exit States in Britain

Mark Taylor and Böheim, René

2499: Inflation Forecast Uncertainty

Söderlind, Paul

2498: Productivity Differences

Daron Acemoglu and Fabrizio Zilibotti

2497: Inequality and Mobility

Joseph Zeira, John Hassler and Rodríguez Mora, José V

2496: Games for Central Bankers: Markets vs. Politics in Public Policy Decisions

Alessandra Casella

2495: Centralized versus Decentralized Provision of Local Public Goods: a Political Economy Analysis

Timothy Besley and Stephen Coate

2494: Combining Micro and Macro Unemployment Duration Data

Gerard van den Berg and Bas van der Klaauw

2493: Earnings Inequality, Returns to Education and Immigration into Ireland

Brian Nolan, John Fitz Gerald and Alan Barrett

2492: Does the Recent Success of some OECD Countries in Lowering their Unemployment Rates lie in the Clever Design of their Labour Ma

Jan van Ours and Michèle Belot

2491: Public and Private Provision of Health Care

Xavier Martinez-Giralt and Pedro Barros

2490: Unemployment Dynamics, Duration and Equilibrium: Evidence from Britain

Simon Burgess and Hélène Turon

2489: Waiting Times for Hospital Admissions: the Impact of GP Fundholding

Carol Propper, Bronwyn Croxson and Arran Shearer

2488: Capture of Bankruptcy: Theory and Evidence from Russia

Ekaterina Zhuravskaya, Ariane Lambert-Mogiliansky and Konstantin Sonin

2487: Language Proficiency and Labour Market Performance of Immigrants in the UK

Christian Dustmann and Francesca Fabbri

2486: Who Gains when Workers Train? Training and Corporate Productivity in a Panel of British Industries

John van Reenen, Lorraine Dearden and Howard Reed

2485: Agricultural Productivity Growth and Escape from the Malthusian Trap

Fürnkranz-Prskawetz, Alexia and Kögel, Tomas

2484: Has the Introduction of Bookbuilding Increased the Efficiency of International IPOs?

Tim Jenkinson, Alexander Ljungqvist and William J Wilhelm

2483: Selling Company Shares to Reluctant Employees: France Télécom's Experience

Francois Degeorge, Peter Tufano, Dirk Jenter and Alberto Moel

2482: Special Interest Politics and Aid Fungibility

Sajal Lahiri and Pascalis Raimondos

2481: Reciprocity Across Modes of Supply in the WTO: A Negotiating Formula

Aaditya Mattoo and Marcelo Olarreaga

2480: Deepening of Regional Integration and Multilateral Trade Agreements

L. Winters, Eric Bond and Constantinos Syropoulos

2479: Do Interventions Smooth Interest Rates?

Andreas Fischer

2478: Austria's Hard-Currency Policy: The Mechanics of Successful Exchange-Rate Peg

Andreas Fischer and Michael Dueker

2477: Maintenance, Utilization, and Depreciation along the Business Cycle

Tryphon Kollintzas and Fabrice Collard

2476: The Trade and Labour Approaches to Wage Inequality

Jonathan Haskel

2475: The Nonlinear Dynamics of Output and Unemployment in the US

Filippo Altissimo and Giovanni Violante

2474: General Purpose Technology and Within-Group Inequality

Peter Howitt, Philippe Aghion and Giovanni Violante

2473: Sectors and the OECD Business Cycle

Jean Imbs

2472: Job Creation, Job Destruction, and the International Division of Labour

Marion Jansen and Alessandro Turrini

2471: Multinational Corporations, Wages and Employment: Do Adjustment Costs Matter?

Anna M Falzoni and Giovanni Bruno

2470: The Choice and Timing of Foreign Market Entry under Uncertainty

Leo Sleuwaegen and Enrico Pennings

2469: Does FDI Work as a Channel for R&D Spillovers? Evidence Based on Swedish Data

Karen Helene Ulltveit-Moe, Karolina Ekholm and Henrik Braconier

2468: On the Welfare Effects of Competition for Foreign Direct Investments

Chiara Fumagalli

2467: Vertical Industry Linkages: Sources Of Productivity Gains And Cumulative Causation

Karen Helene Ulltveit-Moe and Frode Steen

2466: Human Capital In Growth Regressions: How Much Difference Does Data Quality Make?

Angel de La Fuente and Rafael Domenech

2465: Convergence Across Countries And Regions: Theory And Empirics

Angel de La Fuente

2464: Rent Seeking/Corruption And Growth: A Simple Model

Tryphon Kollintzas and George-Marios Angeletos

2463: Restructuring And Productivity Growth In UK Manufacturing

Jonathan Haskel, Richard F Disney and Ylva Heden

2462: A Model Of Market-Enhancing Infrastructure

Philippe Aghion and Mark Schankerman

2461: The Euro and International Capital Markets

Philipp Hartmann and Carsten Detken

2460: Macroeconomic Stabilization: Fixed Exchange Rates Vs Inflation Targeting Vs Price Level Targeting

Vivek Dehejia and Nicholas Rowe

2459: Merger Policies And Trade Liberalization

Henrik Horn and James Levinsohn

2458: Liquidity Constraints, Production Costs And Output Decisions

Paul Povel and Michael Raith

2457: Mapping The Two Faces Of R&D: Productivity Growth In A Panel Of OECD Industries

John van Reenen, Rachel Griffith and Stephen Redding

2456: The US Social Security: A Financial Appraisal For The Median Voter

Vincenzo Galasso

2455: Racial Beliefs, Location And The Causes Of Crime

Thierry Verdier and Yves Zenou

2454: Monetary Policy In The Open Economy Revisited: Price Setting Rules And Exchange Rate Flexibility

Charles Engel and Michael Devereux

2453: Banking Crises and Bank Rescues: The Role of Reputation

Jenny Corbett and Janet Mitchell

2452: The Role Of The Minimum Wage In The Welfare State: An Appraisal

Juan Dolado, Juan F Jimeno and Florentino Felgueroso

2451: The Impact Of Active Labour Market Policies And Benefit Entitlement Rules On The Duration Of Unemployment

Jan van Ours, Zweimüller, Josef and Rafael Lalive

2450: Output And Unemployment Dynamics In Transition

Vivek Dehejia and Douglas Dwyer

2449: Barter For Price Discrimination?

Sergei Guriev and Dmitriy Kvasov

2448: Exchange Rate And Foreign Inflation Risk Premiums In Global Equity Returns

Maria Vassalou

2447: Punitive Sanctions and the Transition Rate From Welfare to Work

Jan van Ours, Gerard van den Berg and Bas van der Klaauw

2446: Tax And Education Policy In A Heterogeneous Agent Economy: What Levels Of Redistribution Maximize Growth And Efficiency?

Bénabou, Roland

2445: Employer Learning And The Returns To Schooling

Thomas Bauer and John P Haisken-DeNew

2444: Competition And Firm Performance: Lessons From Russia

J. David Brown and John Earle