CEPR Discussion Papers

From Centre for Economic Policy Research
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1542: The Political Economy of Mass Privatization and the Risk of Expropriation

Klaus Schmidt

1541: Methods of Privatization: Auctions, Bargaining and Give-Aways

Klaus Schmidt and Monika Schnitzer

1540: Where do Migrants Go? Risk-Aversion, Mobility Costs and the Locational Choice of Migrants

Francesco Daveri and Riccardo Faini

1539: Competition between Intermediated and Direct Trade and the Timing of Disintermediation

John Fingleton

1538: Competition among Middlemen When Buyers and Sellers can Trade Directly

John Fingleton

1537: Manipulation of Metals Futures: Lessons from Sumitomo

Christopher L Gilbert

1536: Parental Support for Human Capital Investment by Young Adults

John Ermisch

1535: Aspects of Fiscal Performance in some Transition Economies under Fund-supported Programs

Willem Buiter

1534: Potential Unemployment Benefit Duration and Spell Length: Lessons from a Quasi-experiment in Austria

Rudolf Winter-Ebmer

1533: The Multilateral Trade Agenda: Uruguay Round Implementation and Beyond

Joseph Francois and Brad McDonald

1532: Designing a Cheaper and More Effective Unemployment Benefit System

Melvyn Coles

1531: Job Tenure: Does History Matter?

Alison Booth, Marco Francesconi and Carlos García-Serrano

1530: How to Fix Conversion Rates at the Start of EMU

Paul De Grauwe

1529: Growth and Agglomeration

Philippe Martin and Gianmarco Ottaviano

1528: Front-running by Mutual Fund Managers: It ain't that Bad

Jean-Pierre Danthine and Serge X Moresi

1527: To be (Unionized) or Not to be? A Case for Cost-raising Strategies

Jacques Bughin and Stefano Vannini

1526: The Response of Wages and Actual Hours Worked to the Reduction of Standard Hours in Germany

Jennifer Hunt

1525: Regionalism versus Multilateralism

L. Winters

1524: Minimum Wage Legislation, Work Conditions and Employment

Gianni De Fraja

1523: Growing Locations: Industry Location in a Model of Endogenous Growth

Philippe Martin and Gianmarco Ottaviano

1522: Minimum Quality Standards as Facilitating Devices: An Example with Leapfrogging and Exit

Stefan Lutz

1521: Benefit Duration and Unemployment Entry: Quasi-experimental Evidence for Austria

Rudolf Winter-Ebmer

1520: Hedging and Gambling: Corporate Risk Choice when Informing the Market

Francois Degeorge, Boaz Moselle and Richard Zeckhauser

1519: Institutions and Labour Reallocation

Giuseppe Bertola and Richard Rogerson

1518: A Stochastic Dynamic General Equilibrium Model for Greece

Tryphon Kollintzas and Vanghelis Vassilatos

1517: Mergers for Market Power in a Cournot Setting and Merger Guidelines

Ramon Faulí-Oller

1516: Economic Incentives and Hospitalization in Germany

Andreas Million, Ralph Rotte and Klaus Zimmermann

1515: Business Formation and Aggregate Investment

Christian Keuschnigg

1514: On the Foundations of Wage Bargaining

Paola Manzini and Dennis Snower

1513: Hyperinflation and Stabilization: Cagan Revisited

Marcus Miller and Lei Zhang

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