CEPR Discussion Papers

From Centre for Economic Policy Research
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1138: Testing for Liquidity Constraints in Euler Equations with Complementary Data Sources

Tullio Jappelli, Jorn-Steffen Pischke and Nicholas Souleles

1137: Classical Business Cycles for G7 and European Countries

Michael Artis, Zenon Kontolemis and Denise Osborn

1136: Privatization and Efficiency in a Differentiated Industry

André de Palma and Jacques Thisse

1135: Defensive and Strategic Restructuring in Central European Enterprises

Irena Grosfeld and Gérard Roland

1134: Technology and Trade

Gene Grossman and Elhanan Helpman

1133: North-South R&D Spillovers

David Coe, Elhanan Helpman and Alexander Hoffmaister

1132: Central and East European Labour Markets in Transition: Developments, Causes, and Cures

Wolfgang Franz

1131: Exchange Rate Dynamics Redux

Maurice Obstfeld and Kenneth Rogoff

1130: Stabilization Policy, Learning by Doing, and Economic Growth

Philippe Martin and Carol Rogers

1129: Optimal Stabilization Policy in the Presence of Learning by Doing

Philippe Martin and Carol Rogers

1128: A Panel Project on Purchasing Power Parity: Mean Reversion Within and Between Countries

Jeffrey Frankel and Andrew Rose

1127: Banking and Development

Oren Sussman and Joseph Zeira

1126: Trade and Convergence Among Countries

Dan Ben-David

1125: Job Flows, Worker Flows and Churning

Simon Burgess, Julia Lane and David Stevens

1124: The Sharing Hypothesis for Specific Human Capital

Margaret Stevens

1123: On the Evolution of Credibility and Flexible Exchange Rate Target Zones

Renzo Avesani, Giampiero Gallo and Mark Salmon

1122: Regulation and Access Pricing with Asymmetric Information

Gianni De Fraja

1121: Causality Implications of the Public-Finance Approach to Inflation and Seigniorage

Behzad Diba and Philippe Martin

1120: Applied Cointegration Analysis in the Mirror of Macroeconomic Theory

Paul Söderlind and Anders Vredin

1119: The Equity Premium and the Risk Free Rate: A Cross Country, Cross Maturity Examination

Fabio Canova and Gianni de Nicolò

1118: Unemployment Insurance and Incentives in Hungary

John Micklewright and Gyula Nagy

1117: Redistributive Policy in a Transition Economy: The Case of Hungary

Sarah Jarvis and Stephen Pudney

1116: Learning and Dynamic Comparative Advantage: Lessons from Austria's Post-war Pattern of Growth for Eastern Europe

Dalia Marin

1115: The Dynamics of Political Support for Reform in Economies in Transition

Dani Rodrik

1114: Trade Liberalization and the Harmonization of Social Policies: Lessons from European Integration

Andre Sapir

1113: Household Production and International Business Cycles

Fabio Canova and Angel Ubide

1112: The WTO's Agreement on Government Procurement: Expanding Disciplines, Declining Membership?

Bernard Hoekman and Petros C Mavroidis

1111: Slowdowns and Meltdowns: Post-war Growth Evidence from 74 Countries

Dan Ben-David and David Papell

1110: Unemployment, Investment and Sectoral Reallocation

Bankim Chadha and Fabrizio Coricelli

1109: Fertility Control Early in Marriage in Ireland a Century Ago

Niall Duffy and Cormac O'Gráda

1108: The Welfare Effects of Liquidity Constraints

Tullio Jappelli and Marco Pagano

1107: Performance Comparisons and Dynamic Incentives

Margaret Meyer and John Vickers

1106: On the Persistence of Leadership or Leapfrogging in International Trade

Antonio Cabrales, Massimo Motta and Jacques Thisse

1105: The Coherence of EC Policies on Trade, Competition and Industry

Jordi Gual

1104: Growth and Macroeconomic Performance in Spain, 1939-93

Leandro Prados de la Escosura

1103: The Swedish Experience of an Inflation Target

Lars Svensson

1102: The Impact of Active Labour Market Policies: A Closer Look at the Czech and Slovak Republics

Michael Burda and Martina Lubyová

1101: Quitting Externalities, Employment Cyclicality and Firing Costs

Alison Booth and Gylfi Zoega

1100: Monetary Integration in Europe: Implications for Real Interest Rates, National Stock Markets and the Volatility of Prices and Exchange Rates

Matthew Canzoneri and Harris Dellas

1099: Real Interest Rates and Central Bank Operating Procedures

Matthew Canzoneri and Harris Dellas

1098: Lifetime Jobs and Transient Jobs: Job Tenure in Britain 1975-91

Simon Burgess and Hedley Rees

1097: Coverage by Incremental Scales

Alison Booth and Jeff Frank

1096: The Unemployment Implications of Mandatory Firing Costs

Alison Booth

1095: Post-war Growth: An Overview

Nicholas Crafts and Gianni Toniolo

1094: Labour Adjustment and Gradual Reform: Is Commitment Important?

Larry Karp and Thierry Paul

1093: Unemployment: Where does it Hurt?

Liliana Winkelmann and Rainer Winkelmann

1092: British Economic Growth Since 1945: Relative Economic Decline.... and Renaissance?

Charles Bean and Nicholas Crafts

1091: Resisting Migration: Wage Rigidity and Income Distribution

Assaf Razin and Efraim Sadka

1090: Fixes: Of the Forward Discount Puzzle

Robert Flood and Andrew Rose

1089: The Political Economy of Coal Subsidies in Europe

Kym Anderson

1088: Do Credit Markets Discipline Sovereign Borrowers? Evidence from US States

Tamim Bayoumi, Morris Goldstein and Geoffrey Woglom

1087: Europe's Golden Age: An Econometric Investigation of Changing Trend Rates of Growth

Nicholas Crafts and Terence C Mills

1086: The Simple Economics of Benefit Transfers

Dennis Snower

1085: Regional Labour Market Dynamics in Europe

Jörg Decressin and Antonio Fatas

1084: Developing Countries After the Uruguay Round

Dani Rodrik

1083: Short- and Long-term Hedging for the Corporation

Bernard Dumas

1082: Unemployment Persistence: Does the Size of the Shock Matter?

Gylfi Zoega

1081: Evaluating Unemployment Policies: What do the Underlying Theories Tell Us?

Dennis Snower

1080: A Time to Sow and a Time to Reap: Growth Based on General Purpose Technologies

Elhanan Helpman and Manuel Trajtenberg

1079: Competition, Regulation and Managerial Incentives

Gianni De Fraja and Elisabetta Iossa

1078: Entry, Pricing and Incentives: The Role of Regulatory Commitment

Gianni De Fraja

1077: Auctions of Shares with a Secondary Market and Tender Offers

Antonio S Mello and John E Parsons

1076: Quality Improvements in Models of Growth

Robert Barro and Xavier Sala-i-Martin

1075: Regional Cohesion: Evidence and Theories of Regional Growth and Convergence

Xavier Sala-i-Martin

1074: International Consumption Risk Sharing

Fabio Canova and Morten Ravn

1073: Exchange Rates in Search of Fundamental Variables

Paul De Grauwe

1072: Does Firm Size Matter? Evidence on the Impacts of Liquidity Constraints on Firm Investment Behaviour in Germany

David Audretsch and Julie Elston

1071: The Creation and Capture of Rents: Wages and Innovation in a Panel of UK Companies

John van Reenen

1070: A Sequential Approach to Regional Integration: The European Union and Central and Eastern Europe

Philippe Martin

1069: Labour Force Growth, Trade, and Employment

Joseph Francois

1068: Inflation, Nominal Interest Rates and the Variability of Output

Bankim Chadha and Daniel Tsiddon

1067: The Uruguay Round: A Global General Equilibrium Assessment

Joseph Francois, Brad McDonald and Håkan Nordström

1066: Should a Carbon Tax be Differentiated Across Sectors?

Michael Hoel

1065: Strategic Environmental Policy and International Trade - The Role of Market Conduct

Alistair Mitchell Ulph

1064: Can a Small Nation Gain from Introducing a Carbon Tax Early?

Diderik Lund

1063: Trade, Strategic Innovation and Strategic Environmental Policy - a General Analysis

Alistair Mitchell Ulph and David Ulph

1062: Financial Systems in Transition: Is there a Case for a Bank Based System?

Irena Grosfeld

1061: Is There a Safe Passage to EMU? Evidence on Capital Controls and a Proposal

Barry Eichengreen, Andrew Rose and Charles Wyplosz

1060: Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System

Barry Eichengreen, Andrew Rose and Charles Wyplosz

1059: Explaining Forward Exchange Bias.... Intra-day

Richard Lyons and Andrew Rose

1058: The Economics of Enterprise Restructuring in Central and Eastern Europe

Philippe Aghion, Olivier Blanchard and Wendy Carlin

1057: Fiscal Flows in the United States and Canada: Lessons for Monetary Union in Europe

Tamim Bayoumi and Paul Masson

1056: Redistributive Politics and Economic Efficiency

Avinash Dixit and John Londregan

1055: Contagious Speculative Attacks

Stefan Gerlach and Frank Smets

1054: The Determinants of Success of Special Interests in Redistributive Politics

Avinash Dixit and John Londregan

1053: Excesses and Limits of the Public Sector in the Italian Economy. The Ongoing Reform

Fiorella Kostoris Padoa Schioppa

1052: Endogenous Growth and Poverty Traps in a Cournotian Model

Jordi Galí and Fabrizio Zilibotti

1051: Estimating and Interpreting Forward Interest Rates: Sweden 1992-4

Lars Svensson

1050: The Geography of the Gold Standard

Barry Eichengreen and Marc Flandreau

1049: France and the CEECs: Adjusting to Another Enlargement

Olivier Cadot and Jaime de Melo

1048: Marketplaces and Matching

Melvyn Coles and Eric Smith

1047: Monetary Policies in the EMS: Lessons from the Great Recession of 1991-3

Paul De Grauwe

1046: Industrial and Trade Policies for the Emerging Market Economies

David Audretsch

1045: Trade Law and Environmental Issues in Central and East European Countries

Michael Rauscher

1044: Central European Countries' Trade Laws in the Light of International Experience

Patrick Messerlin

1043: Who Should Run Trade Policy in Eastern Europe and How?

L. Winters

1042: Testing Long-run Neutrality: Empirical Evidence for G7 Countries with Special Emphasis on Germany

Axel A Weber

1041: The Impact of Exchange Rate Fluctuations on European Union Trade

Andre Sapir, Khalid Sekkat and Axel A Weber

1040: Currency Board or Central Bank? Lessons from the Irish Pound's Link with Sterling, 1928-79

Patrick Honohan

1039: What does the Political Economy Literature on Trade Policy (Not) Tell Us That We Ought to Know?

Dani Rodrik