CEPR Discussion Papers

From Centre for Economic Policy Research
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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

1410: A User's Guide to Uruguay Round Assessments

Joseph Francois, Brad McDonald and Håkan Nordström

1409: The Determinants of UK Business Cycles

Andrew Scott

1408: Women's Employment Transitions Around Childbearing

Shirley Dex, Heather Joshi and Susan Macran

1407: Endogenous Innovation Spillovers and Technology Policy

Yannis Katsoulacos and David Ulph

1406: Greek Closed-End Fund Premia: Differences and Similarities with US Premia and Their Implications

Gikas Hardouvelis and Emmanuel Tsiritakis

1405: Time-Consistent Solutions to the Stochastic Dynamic Strategic Export Subsidy Problem

Konstantine Gatsios and Tryphon Kollintzas

1404: The Monetary Transmission Mechanism

Jess Benhabib and Roger Farmer

1403: Indeterminacy and Sector-specific Externalities

Jess Benhabib and Roger Farmer

1402: Is the Allocation of Voting Power Among the EU States Fair?

Annick Laruelle and Mika Widgrén

1401: Legal Form, Growth and Exit of West German Firms - Empirical Results for Manufacturing, Construction, Trade and Service Industries

Dietmar Harhoff, Konrad Stahl and Michael Woywode

1400: Are Capital Flows Consistent with the Neoclassical Growth Model? Evidence from a Cross-section of Developing Countries

Stefano Manzocchi and Philippe Martin

1399: A Theory of Union Power and Labour Turnover

Kai-Uwe Kühn and Atilano Jorge Padilla

1398: Gross Worker Flows: How Does the Spanish Evidence Fit the Stylized Facts?

Pablo Antolin

1397: Trade Liberalization and Endogenous Growth: A q-Theory Approach

Richard Baldwin and Rikard Forslid

1396: Intergenerational Redistribution with Short-lived Governments

Gene Grossman and Elhanan Helpman

1395: Forward Interest Rates as Predictors of EMU

Paul De Grauwe

1394: Capital Export, Unemployment, and Illegal Immigration

Günther Schulze

1393: Growth and European Integration: Towards an Empirical Assessment

Richard Baldwin and Elena Seghezza

1392: The Capital Structure of Firms in Central and Eastern Europe

Francesca Cornelli, Richard Portes and Mark Schaffer

1391: International Fiscal Policy Coordination with Demand Spillovers and Labour Unions

Huw Dixon and Michele Santoni

1390: Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions

Tamim Bayoumi and Michael Bordo

1389: Consumption, 'Credit Crunches' and Financial Deregulation

Andrew Scott

1388: Why do More Open Economies Have Bigger Governments?

Dani Rodrik

1387: Independent but Accountable: Walsh Contracts and the Credibility Problem

Ali al-Nowaihi and Paul Levine

1386: Rogoff's 'Conservative' Central Banker Restored

Berthold Herrendorf and Ben Lockwood

1385: Does Mutual Recognition of National Minimum Quality Standards Support Regional Convergence?

Stefan Lutz

1384: Trade Effects of Minimum Quality Standards with and without Deterred Entry

Stefan Lutz

1383: Convergence, Endogenous Growth, and Productivity Disturbances

Charles Leung and Danny Quah

1382: Managerial Incentives and Product Market Competition

Klaus Schmidt

1381: A Pecking Order Theory of Capital Inflows and International Tax Principles

Assaf Razin, Efraim Sadka and Chi-Wa Yuen

1380: Monetary Cohabitation in Europe

Torsten Persson and Guido Tabellini

1379: Out in the Cold? Outsiders and Insiders in 1999: Feasible and Unfeasible Options

Luigi Spaventa

1378: On the Ineffectiveness of Tax Policy in Altering Long- Run Growth: Harberger's Superneutrality Conjecture

Patrick Asea, Enrique Mendoza and Gian Maria Milesi-Ferretti

1377: Intra-Industry Trade, Foreign Direct Investment and the Reorientation of East European Exports

Simeon Djankov and Bernard Hoekman

1376: Temporary Migration, Human Capital, and Language Fluency of Migrants

Christian Dustmann

1375: Reorganization of Firms and Labour Market Inequality

Assar Lindbeck and Dennis Snower

1374: The Costs/Benefits of a Common Monetary Policy in France and Germany and Possible Lessons for Monetary Union

Jacques Melitz and Axel A Weber

1373: A Green Light for Environment, or a Green Light for Protection? The EU-US Dispute Over US Corporate Average Fuel Economy Regulations

Joseph Francois and Håkan Nordström

1372: Restructuring and Capital Accumulation in Transition Economies: A General Equilibrium Perspective

Micael Castanheira and Gérard Roland

1371: Adjustment Costs in Factor Demand

Daniel Hamermesh and Gerard Pfann

1370: A Macro-Theoretic Model of the Chinese Economy

Huw Dixon

1369: Implied Volatility Functions: Empirical Tests

Bernard Dumas, Jeff Fleming and Robert E Whaley

1368: International Evidence on the Determinants of Saving

Tamim Bayoumi, Paul Masson and Hossein Samiei

1367: A Macro Theory of Employment Vouchers

Mike Orszag and Dennis Snower

1366: Real Exchange Rates and Exchange Rate Policy in Hungary

László Halpern

1365: Multinational Corporations and Spillovers

Magnus Blomström and Ari Kokko

1364: Matching Across Space: Evidence on Mobility in the Czech Republic

Michael Burda and Stefan Profit

1363: Managerial Career Concerns, Privatization and Restructuring in Transition Economies

Gérard Roland and Khalid Sekkat

1362: Poverty Dynamics Among Young Americans

Simon Burgess and Carol Propper

1361: Wage Bargaining, Inventories, and Union Legislation

Melvyn Coles and Andrew Hildreth

1360: Quitting Externalities with Uncertainty about Future Productivity

Alison Booth and Gylfi Zoega

1359: Technological Convergence and International Trade

Dan Ben-David

1358: Adoption of Financial Technologies: Implications for Money Demand and Monetary Policy

Casey Mulligan and Xavier Sala-i-Martin

1357: Sustainability of High Public Debt: What the Historical Record Shows

Albrecht Ritschl

1356: The Decline in Unskilled Employment in UK Manufacturing

Jonathan Haskel

1355: Twin Peaks: Growth and Convergence in Models of Distribution Dynamics

Danny Quah

1354: The Spread of Industry: Spatial Agglomeration in Economic Development

Diego Puga and Anthony Venables

1353: Labour Contracts, Operating Leverage and Asset Pricing

Jean-Pierre Danthine and John B Donaldson

1352: Hysteresis in Exports

Giorgia Giovannetti and Hossein Samiei

1351: Fiscal Deficit Reductions in Line with the Maastricht Criteria for Monetary Union: An Empirical Analysis

Andrew Hughes Hallett and Peter McAdam

1350: Convergence? Inferences from Theoretical Models

Oded Galor

1349: Currency Crashes in Emerging Markets: Empirical Indicators

Jeffrey Frankel and Andrew Rose

1348: State-contingent Inflation Contracts and Output Persistence

Ben Lockwood

1347: Firing Costs, Unions and Employment

Alison Booth

1346: Immigration, Trade, and Austrian Unemployment

Rudolf Winter-Ebmer and Josef Zweimüller

1345: Matching, Heterogeneity and the Evolution of Income Distribution

Daron Acemoglu

1344: Economics of Agglomeration

Masahisa Fujita and Jacques Thisse

1343: Around the European Periphery 1870-1913: Globalization, Schooling and Growth

Kevin O'Rourke and Jeffrey Williamson

1342: Labour Mobility and Fiscal Coordination: Setting Growth Agenda for an Economic Union

Assaf Razin and Chi-Wa Yuen

1341: The Theory of Endowment, Intra-Industry and Multinational Trade

James Markusen and Anthony Venables