CEPR Discussion Papers

From Centre for Economic Policy Research
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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 Zweimueller

1345: Matching, Heterogeneity and the Evolution of Income Distribution

Daron Acemoglu

1344: Economics of Agglomeration

Jacques Thisse and Masahisa Fujita

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

Jeffrey Williamson and Kevin O'Rourke

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

Anthony Venables and James Markusen

1340: Endogenous Growth and Stochastic Trends

Fatás, Antonio

1339: Fiscal Constraints, Reform Strategies, and the Speed of Transition: The Case of Central-Eastern Europe

Fabrizio Coricelli

1338: Employment Protection, International Specialization, and Innovation

Gilles Saint-Paul

1337: Exchange Rate Dynamics and Financial Market Integration

Alan Sutherland

1336: The Unit Root Hypothesis in Long-term Output: Evidence from Two Structural Breaks for 16 Countries

Dan Ben-David, David Papell and Robin L Lumsdaine

1335: Knowledge Dissemination, Capital Accumulation, Trade and Endogenous Growth

Dan Ben-David and Michael Loewy

1334: Hysteresis and Economic Fluctuations (Spain, 1970-94)

Juan Dolado and López-Salido, J David

1333: Endogenous Growth: Lessons for and from Economic History

Nicholas Crafts

1332: Why Do Companies Go Public? An Empirical Analysis

Marco Pagano, Luigi Zingales and Fabio Panetta

1331: Testing for Trade-induced Investment-led Growth

Richard Baldwin and Elena Seghezza

1330: High Yields: The Spread on German Interest Rates

Luigi Spaventa, Francesco Giavazzi and Carlo Favero

1329: Investment, Liquidity Constraints and Bank Relationships: Evidence from German Manufacturing Firms

Julie Elston

1328: From Local to Global Competition

Simon Anderson and André de Palma

1327: Monopolistic Competition, Trade, and Endogenous Spatial Fluctuations

Gianmarco Ottaviano

1326: Country Asymmetries, Endogenous Product Choice and the Speed of Trade Liberalization

Massimo Motta

1325: Managerial Incentives for Mergers

Massimo Motta and Faulí-Oller, Ramon

1324: Strategic Public Provision of Local Inputs for Oligopolistic Firms in the Presence of Endogenous Location Choices

Uwe Walz

1323: Restructuring Production and Work

Dennis Snower and Assar Lindbeck

1322: Does an Aging Population Increase Inequality?

K von Weizsäcker, Robert

1321: Simultaneous Choice of Process and Product Innovation

Stephanie Rosenkranz

1320: Large Countries, Small Countries and the Enlargement of Trade Blocs

Alessandra Casella

1319: Trade, Migration and Convergence: An Historical Perspective

Kevin O'Rourke

1318: Wage and Mobility Effects of Trade and Migration

Klaus Zimmermann

1317: Deepening of Regional Integration and Multilateral Trade Agreements

L. Winters, Eric Bond and Constantinos Syropoulos

1316: Regionalism and the Rest of the World: The Irrelevance of the Kemp-Wan Theorem

L. Winters

1315: Models of Currency Crises with Self-fulfilling Features

Maurice Obstfeld

1314: Hiring Risk and Labour Market Equilibrium

Gylfi Zoega and Mike Orszag

1313: Forward Interest Rates as Indicators of Inflation Expectations

Söderlind, Paul

1312: The Bargaining Family Revisited

Kjell Lommerud and Kai Konrad

1311: Is the German Apprenticeship System a Panacea for the US Labour Market?

Dietmar Harhoff and Thomas Kane

1310: Convergence in Monetary Inflation Models with Heterogeneous Learning Rules

Seppo Honkapohja, Ramon Marimon and George Evans

1309: Preferential Trading Arrangements and Industrial Location

Anthony Venables and Diego Puga

1308: Investment Creation and Investment Diversion: Simulation Analysis of the Single Market Programme

Richard Baldwin, Jan I. Haaland and Rikard Forslid

1307: Exchange Rate Premia and the Credibility of the Crawling Target Zone in Hungary

Zsolt Darvas

1306: Product Differentiation in the Presence of Positive and Negative Network Effects

Jacques Thisse, Oz Shy and Ami Navon

1305: Trade Strategy, Investment and Exports: Another Look at East Asia

Dani Rodrik

1304: Commodity Tax Harmonization with Public Goods - An Alternative Perspective

Ben Lockwood

1303: Designing Fiscal and Monetary Institutions for a European Monetary Union

Roel Beetsma and Lans Bovenberg

1302: Active Labour Market Policies, Job Matching and the Czech Miracle

Michael Burda and Tito Boeri

1301: Trade Liberalization and Enterprise Restructuring in Bulgaria, 1992-4

Simeon Djankov

1300: Catching Up With Eastern Europe? The European Union's Mediterranean Free Trade Initiative

Simeon Djankov

1299: Does Monetary Unification Lead to Excessive Debt Accumulation?

Roel Beetsma and Lans Bovenberg

1298: Labour Market Institutions and the Cohesion of the Middle Class

Gilles Saint-Paul

1297: Reciprocity and Inflation in Federal Monetary Unions

Juergen von Hagen

1296: East Germany: The Economics of Kinship

Juergen von Hagen

1295: Endogenous Communication Among Lenders and Entrepreneurial Incentives

Jorge Padilla and Marco Pagano

1294: Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA

Barry Eichengreen and Tamim Bayoumi

1293: Excess Entry, Vertical Integration and Welfare

Xavier Vives and Kühn, Kai-Uwe

1292: The Geography of Multi-Speed Europe

Philippe Martin and Gianmarco Ottaviano

1291: International Trade in Exhaustible Resources: A Cartel-Competitive Fringe Model

Larry Karp and Olli Tahvonen

1290: Optimum Electoral Areas

Andre Sapir and Khalid Sekkat

1289: Explaining Consumption: A Simple Test of Alternative Hypotheses

Tamim Bayoumi

1288: A Voting Power Analysis of Supranational and National Influence in the EU

Mika Widgrén

1287: Is the Friedman Rule Optimal When Money is an Intermediate Good?

Isabel Correia and Pedro Teles

1286: Regional Convergence Clusters Across Europe

Danny Quah

1285: Dynamic Common Factors in Large Cross-Sections

Lucrezia Reichlin and Mario Forni

1284: Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience

Francesco Giavazzi and Marco Pagano

1283: Death, Tetanus and Aerobics: The Evaluation of Disease-Specific Health Interventions

Xavier Sala-i-Martin, Olli Tahvonen, Jessica Holmes and Tomas Philipson

1282: Transitional Dynamics to Optimal Sustainable Growth

Ignazio Musu

1281: Long-Term Growth and Short-Term Economic Instability

Philippe Martin and Carol Rogers

1280: International Business Cycles and the Dynamics of the Current Account

Fatás, Antonio and Graham Elliott

1279: Skill Demand and Factor Substitution

Henri Sneessens and Fatemeh Shadman

1278: A Theory of the Welfare State

Hans-Werner Sinn

1277: Do Consumers Search for the Highest Price? Equilibrium and Monopolistic Optimum in Differentiated Products Markets

Konrad Stahl and Norbert Schulz

1276: Innovation, 'Bank' Monitoring and Endogenous Financial Development

Angel de La Fuente and Marín Vigueras, José Maria

1275: The Empirics of Growth and Convergence: A Selective Review

Angel de La Fuente

1274: Catch-up, Growth and Convergence in the OECD

Angel de La Fuente

1273: Ownership and Corporate Control in Poland: Why State Firms Defied the Odds

Sweder van Wijnbergen and Brian Pinto

1272: Reciprocal Anti-Dumping and the Location of Firms

Jan I. Haaland and Ian Wooton

1271: International Migration Controls

Yorgos Papageogiou and Gordon Myers

1270: Labour Specialization and City Formation

Yves Zenou and Marcus Berliant

1269: Politics and Trade Policy

Elhanan Helpman

1268: Are Markets More Competitive if Commodities are Closer Substitutes?

Norbert Schulz

1267: Transport Costs, Intermediate Goods and Localized Growth

Uwe Walz

1266: Foreign Direct Investment and Politics: The Swedish Model

Blomström, Magnus and Ari Kokko

1265: The Poor Stay Poor: Non-Convergence Across Countries and Regions

Albert Marcet and Fabio Canova

1264: The Information Content of the Term Structure: Evidence for Germany

Stefan Gerlach

1263: Price Volatility and Futures Margins

Gikas Hardouvelis and Dongcheol Kim

1262: Asset Pricing Models with and without Consumption: An Empirical Evaluation

Gikas Hardouvelis and Dongcheol Kim

1261: Stock Market Efficiency and Economic Efficiency: Is There a Connection?

Malcolm Davidson and Gary Gorton

1260: Adjustment and Performance of the Textile and Clothing Industry in the Czech Republic, Poland and Portugal

Cristina Corado, Vladimir Benacek and Wieslaw Caban

1259: Regional Unemployment Persistence (Spain, 1976-94)

Samuel Bentolila and Juan F Jimeno

1258: The Term Structure of Euro-Rates: Some Evidence in Support of the Expectations Hypothesis

Stefan Gerlach and Frank Smets

1257: Alternative Operating Procedures for Monetary Policy - A New Look at the Money Supply Process

Peter Bofinger and Schächter, Andrea

1256: Will East Germany Become a New Mezzogiorno?

Andrea Boltho, Pasquale Scaramozzino and Wendy Carlin

1255: Technological Diffusion, Convergence and Growth

Robert Barro and Xavier Sala-i-Martin

1254: The Classical Approach to Convergence Analysis

Xavier Sala-i-Martin

1253: Endogenous Realignments and the Sustainability of a Target Zone

Paul Weller, P. Dean Corbae and Christopher Neely

1252: Can Capital Controls Alter the Inflation-Unemployment Trade-off?

Assaf Razin and Chi-Wa Yuen