CEPR Discussion Papers

From C.E.P.R. Discussion Papers
Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
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13915: Improving U.S. Monetary Policy Communications

Stephen Cecchetti and Kermit Schoenholtz

13914: Predicting Consumer Default: A Deep Learning Approach

Stefania Albanesi and Domonkos Vamossy

13913: End-of-Life Medical Expenses

Eric French, John Jones, Jeremy McCauley and Elaine Kelly

13912: Multiple Applications, Competing Mechanisms, and Market Power

Pieter Gautier, James Albrecht, Xiaoming Cai and Susan Vroman

13911: A Structural Model for the Coevolution of Networks and Behavior

Michael Koenig, Chih-Sheng Hsieh and Xiaodong Liu

13910: Productivity, Network Effects and Telecommunications Capital: Evidence from the US and Europe

Jonathan Haskel, Harald Edquist and Peter Goodridge

13909: What is the Optimal Immigration Policy? Migration, Jobs and Welfare

Sergio Rebelo, Joao Guerreiro and Pedro Teles

13908: Building a productive workforce: the role of structured management

Daniela Scur, Ian Schmutte and Christopher Cornwell

13907: Stress Testing and Bank Lending

Joel Shapiro and Jing Zeng

13906: Inspecting the Mechanism of Quantitative Easing in the Euro Area

Ralph Koijen, Francois Koulischer, Benoît Nguyen and Motohiro Yogo

13905: Collateral and Asymmetric Information in Lending Markets

Nicola Pavanini, Vasso Ioannidou and Yushi Peng

13904: Markets and Markup: A New Empirical Framework and Evidence on Exporters from China

Meredith Crowley, Giancarlo Corsetti, Lu Han and Huasheng Song

13903: The "New" Economics of Trade Agreements: From Trade Liberalization to Regulatory Convergence?

Gene Grossman, Phillip McCalman and Robert Staiger

13902: What are the Price Effects of Trade? Evidence from the U.S. and Implications for Quantitative Trade Models

Xavier Jaravel and Erick Sager

13901: Symbolism Matters: The Effect of Same-Sex Marriage Legalization on Partnership Stability

Jan C. van Ours and Shuai Chen

13900: Anchored Inflation Expectations

Carlos Carvalho, Stefano Eusepi, , and Bruce Preston

13899: Risk-Free Interest Rates

Jules van Binsbergen, William Diamond and Marco Grotteria

13898: How Effective Are Monetary Incentives to Vote? Evidence from a Nationwide Policy

León-Ciliotta, Gianmarco, Luis Martinez and Mariella Gonzales

13897: From Mad Men to Maths Men: Concentration and Buyer Power in Online Advertising

Francesco Decarolis and Gabriele Rovigatti

13896: Interest rates

Eric Monnet

13895: Taming the Global Financial Cycle: Central Banks and the Sterilization of Capital Flows in the First Era of Globalization (1891

Eric Monnet, Guillaume Bazot and Matthias Morys

13894: Do Short-Term Incentives Affect Long-Term Productivity?

Vyacheslav Fos, Heitor Almeida, Nuri Ersahin, Rustom M Irani and ,

13893: Sharing a Government

Jaume Ventura

13892: The Entertaining Way to Behavioral Change: Fighting HIV with MTV

Eliana La Ferrara, Abhijit Banerjee and Victor Orozco-Olvera

13891: On Selecting the Right Agent

Kfir Eliaz, Kareen Rozen, Geoffroy de Clippel and Daniel Fershtman

13890: Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models

Adrien Auclert, Bence Bardoczy, Matthew Rognlie and Ludwig Straub

13889: China’s Industrial Policy: an Empirical Evaluation

Myrto Kalouptsidi, Panle Barwick and Nahim Bin Zahur

13888: Financial Policies and Internal Governance with Heterogeneous Risk Preferences

Bart Lambrecht and Shiqi Chen

13887: Global Dimensions of U.S. Monetary Policy

Maurice Obstfeld

13886: Covered Interest Parity Deviations: Macrofinancial Determinants

Maurice Obstfeld, Eugenio Cerutti and Haonan Zhou

13885: Gig-Labor: Trading Safety Nets for Steering Wheels

Vyacheslav Fos, Naser Hamdi, Ankit Kalda and Jordan Nickerson

13884: Credit Building or Credit Crumbling? A Credit Builder Loan’s Effects on Consumer Behavior, Credit Scores and Their Predictive

Dean Karlan, Jeremy Burke, Julian C. Jamison, Kata Mihaly and Jonathan Zinman

13883: Are Professors Worth It? The Value-added and Costs of Tutorial Instructors

Zölitz, Ulf, Jan Feld and Nicolas Salamanca

13882: Competition and Pass-Through: Evidence from Isolated Markets

Christos Genakos and Mario Pagliero

13881: Incomplete Contracts, Limited Liability, and the Optimality of Joint Ownership

Patrick Schmitz

13880: Clients' Connections: Measuring the Role of Private Information in Decentralised Markets

Péter Kondor and Gabor Pinter

13879: Third Party Intervention and Strategic Militarization

Massimo Morelli, Adam Meirowitz, Kristopher Ramsay and Francesco Squintani

13878: Divided Government, Delegation, and Civil Service Reform

Massimo Morelli, Elliott Ash and Matia Vannoni

13877: Devotion and Development: Religiosity, Education, and Economic Progress in 19th-Century France

Mara Squicciarini

13876: The Elasticity of Taxable Income in Spain: 1999-2014

Miguel Almunia and David Lopez Rodriguez

13875: Ambiguity Attitudes, Leverage Cycle and Asset Prices

Ester Faia, Marzio Bassanin and Valeria Patella

13874: The Term Structure of Government Debt Uncertainty

Antonio Mele, Yoshiki Obayashi and Shihao Yang

13873: Correlation Risk, Strings and Asset Prices

Antonio Mele, Walter Distaso and Grigory Vilkov

13872: The Social Costs of Side Trading

Thomas Mariotti, Andrea Attar and Salanié, François

13871: A Positive Effect of Political Dynasties: the Case of France’s 1940 Enabling Act

Kim Oosterlinck, Jean Lacroix and Méon, Pierre-Guillaume

13870: The Wall Street Stampede: Exit as Governance with Interacting Blockholders

Amil Dasgupta, Dragana Cvijanovic and Konstantinos Zachariadis

13869: Exchange Rate Reconnect

Matteo Maggiori, Andrew Lilley, Brent Neiman and Jesse Schreger

13868: Information Design with Agency

Eduardo Perez, Adrien Vigier and Jacopo Bizzotto

13867: China's Overseas Lending

Christoph Trebesch, Sebastian Horn and Carmen Reinhart

13866: Stock Price Cycles and Business Cycles

Klaus Adam and Sebastian Merkel

13865: Diffusion of Gender Norms: Evidence from Stalin's Ethnic Deportations

Ekaterina Zhuravskaya, Antonela Miho and Alexandra Jarotschkin

13864: The College Wealth Divide: Education and Inequality in America, 1956-2016

Moritz Schularick, Alina Bartscher and Moritz Kuhn

13863: Exportweltmeister: The Low Returns on Germany’s Capital Exports

Moritz Schularick, Hünnekes, Franziska and Christoph Trebesch

13862: The Economic Costs of Financial Distress

Custódio, Cláudia, Miguel Ferreira and Emilia Garcia-Appendini

13861: Optimal Transport Networks in Spatial Equilibrium

Edouard Schaal and Pablo Fajgelbaum

13860: Social Media and Polarization

Yves Zenou, Arthur Campbell and Matthew Leister

13859: Formative Experiences and the Price of Gasoline

Arthur van Benthem and Christopher Severen

13858: The Dog that Didn’t Bark: The Curious Case of Lloyd Mints, Milton Friedman and the Emergence of Monetarism

Harris Dellas and George Tavlas

13857: Sentiment and Speculation in a Market with Heterogeneous Beliefs

Ian Martin and ,

13856: Stock Market Wealth and the Real Economy: A Local Labor Market Approach

Alp ÅžimÅŸek, Gabriel Chodorow-Reich and Plamen T. Nenov

13855: The Transmission of Shocks in EndogenousFinancial Networks: A Structural Approach

Rancière, Romain, Amine Ouazad and Jonas Heipertz

13854: Dividend Policy Decisions and Ownership Concentration: Evidence from Thai Public Companies

Christian Wolff and J. Thomas Connelly

13853: Identification with External Instruments in Structural VARs under Partial Invertibility

Giovanni Ricco and ,

13852: Pareto-Efficient Tax Deductions

Dominik Sachs and Köhne, Sebastian

13851: Is Employment Polarization Informative About Wage Inequality and Is Employment Really Polarizing?

Jennifer Hunt and Ryan Nunn

13850: Voting with their Money: Brexit and Outward Investment by UK Firms

Holger Breinlich, Elsa Leromain, Dennis Novy and Thomas Sampson

13849: Does Drawing Down the U.S. Strategic Petroleum Reserve Help Stabilize Oil Prices?

Lutz Kilian and Xiaoqing Zhou

13848: Funding the Great War and the beginning of the end for British hegemony

Martin Ellison, Thomas Sargent and Andrew Scott

13847: Technology-induced Trade Shocks? Evidence from Broadband Expansion in France

Thierry Mayer, Clément Malgouyres and Clément Mazet-Sonilhac

13846: Did Austerity Cause Brexit?

Thiemo Fetzer

13845: Endogenous Social Connections in Legislatures

Eleonora Patacchini, Marco Battaglini and Edoardo Rainone

13844: Funding and financing infrastructure: The joint-use of public and private finance

David Martimort, Stephane Straub and Marianne Fay

13843: "When Olson Meets Dahl": From Inefficient Groups Formation to Inefficient Policy-Making

David Martimort

13842: Nonlinear Pricing with Average-Price Bias

David Martimort and Lars Stole

13841: Moral Hazard and the Property Rights Approach to the Theory of the Firm

Patrick Schmitz

13840: Is Favoritism a Threat to Chinese Aid Effectiveness? A Subnational Analysis of Chinese Development Projects

Axel Dreher, Andreas Fuchs, Roland Hodler, Bradley Parks, , and Michael Tierney

13839: Puzzling Exchange Rate Dynamics and Delayed Portfolio Adjustment

Philippe Bacchetta and Eric van Wincoop

13838: Roman Transport Network Connectivity and Economic Integration

Erik Hornung, Matthias Flueckiger, Mario Larch, Markus Ludwig and Allard Mees

13837: Firm organization with multiple establishments

Anna Gumpert, Henrike Steimer and Manfred Antoni

13836: P-hacking in clinical trials and how incentives shape the distribution of results across phases

Marco Ottaviani, Jerome Adda and Christian Decker

13835: Forward-Looking Policy Rules and Currency Premia

Mark Taylor and Ilias Filippou

13834: Externalities and financial crisis - enough to cause collapse?

Marcus Miller and Lei Zhang

13833: From Local to Global: A Unified Theory of Public Basic Research

Hans Gersbach, Ulrich Schetter and Samuel Schmassmann

13832: Prudential Monetary Policy

Alp ÅžimÅŸek and Ricardo Caballero

13831: Bank Assets, Liquidity and Credit Cycles

Ivan Petrella, Federico Lubello and Emiliano Santoro

13830: Using Survey Questions to Measure Preferences: Lessons from an Experimental Validation in Kenya

Michal Bauer, Julie Chytilová and Edward Miguel

13829: The Promise and Pitfalls of Conflict Prediction: Evidence from Colombia and Indonesia

Christopher Blattman, Oeindrila Dube, Samuel Bazzi, Matthew Gudgeon, Richard Peck and Robert Blair

13828: Motivating employees through career paths

Heski Bar-Isaac and Raphaël Levy

13827: GVCs and Trade Elasticities with Multistage Production

Andreas Moxnes and Robert Johnson

13826: The Effects of Working while in School: Evidence from Employment Lotteries

Thomas Le Barbanchon, Diego Ubfal and Federico Araya

13825: Chaebols and firm dynamics in Korea

Sergei Guriev, Philippe Aghion and Kangchul Jo

13824: Runoff Elections in the Laboratory

Laurent Bouton, Jorge Gallego, Aniol Llorente-Saguer and Rebecca Morton

13823: Crime and Networks: 10 Policy Lessons

Yves Zenou and Matthew Lindquist

13822: Social Connectedness in Urban Areas

Ströbel, Johannes, Michael Bailey, Theresa Kuchler and Patrick Farrell

13821: Patterns of Competitive Interaction

Mark Armstrong and John Vickers

13820: Economic Geography Aspects of the Panama Canal

Ferdinand Rauch and Stephan Maurer

13819: A Model of Fickle Capital Flows and Retrenchment

Alp ÅžimÅŸek and Ricardo Caballero

13818: The effects of market integration during the first globalization: a multi-market approach

Giovanni Federico and David Chilosi

13817: Optimal Monetary Policy when Information is Market-Generated

Kenza Benhima and Isabella Blengini

13816: (Macro) Prudential Taxation of Good News

Facundo Piguillem, Jean Flemming and Jean-Paul L'Huillier