CEPR Discussion Papers

From Centre for Economic Policy Research
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15048: Regulating Platform Fees under Price Parity

Renato Gomes and Andrea Mantovani

15047: Incarceration versus probation? Long-run evidence from an anticipated reform

Hémet, Camille and Bastien Michel

15046: Risk Sharing within the Firm: A Primer

Marco Pagano

15045: Assessing the Quality of Public Services: Does Hospital Competition Crowd Out the For-Profit Quality Gap?

Carol Propper, Johannes Kunz, Kevin Staub and Rainer Winkelmann

15044: Policies and Instruments for Self-Enforcing Treaties

Alessia Russo, Bard Harstad and Francesco Lancia

15043: Worker heterogeneity, selection, and employment dynamics in the face of aggregate demand and pandemic shocks

Federico Ravenna and Carl Walsh

15042: Fiscal and Monetary Stabilization Policy at the Zero Lower Bound: Consequences of Limited Foresight

Michael Woodford and Yinxi Xie

15041: A Graphical Lasso Approach to Estimating Network Connections: The Case of U.S. Lawmakers

Marco Battaglini, Forrest Crawford, Eleonora Patacchini and Sida Peng

15040: Italy in the Eurozone

Christian Keuschnigg, Linda Kirschner, Michael Kogler and Hannah Winterberg

15039: Uncertainty and dispersion in professional interest rate forecasts: International evidence and theory

Alex Cukierman and Thomas Lustenberger

15038: Reciprocity and the Interaction Between the Unemployed and the Caseworker

Gerard Van den Berg, Gerrit Mueller and Bettina Siflinger

15037: The impact of sanctions for young welfare recipients on transitions to work and wages and on dropping out

Gerard Van den Berg, Arne Uhlendorff and Joachim Wolff

15036: The Effects of Day Care on Health During Childhood: Evidence by Age

Gerard Van den Berg and Bettina Siflinger

15035: Informing employees in small and medium sized firms about training: results of a randomized field experiment

Gerard Van den Berg, Christine Dauth, Pia Homrighausen and Gesine Stephan

15034: Women in economics: A UK Perspective

Sarah Smith and Almudena Sevilla

15033: Mutual Fund Performance and Flows During the COVID-19 Crisis

Pástor, Luboš and Blair Vorsatz

15032: Early Childhood Investments and the Quantity-Quality Trade-off

Yona Rubinstein, Chinhui Juhn and Andrew Zuppann

15031: Are Online Markets More Integrated than Traditional Markets? Evidence from Consumer Electronics

Frank Verboven, Duch-Brown, Néstor, Andre Romahn and Lukasz Grzybowski

15030: The Dark Side of Transparency: Mission Variety and Industry Equilibrium in Decentralized Public Good Provision

Thierry Verdier, Gani Aldashev and Esteban Jaimovich

15029: Wealth Redistribution in Bubbles and Crashes

Dong Lou

15028: Informed Trading in Government Bond Markets

Dong Lou

15027: Dream Jobs

Gianmarco Ottaviano, Giordano Mion and Luca David Opromolla

15026: Authority in a theory of the firm

Dezsoe Szalay and Inga Deimen

15025: The Cleansing Effect of Banking Crises

Steven Ongena, Reint Gropp, Rocholl, Jörg and Vahid Saadi

15024: Board dynamics over the startup life cycle

Michael Ewens and Nadya Malenko

15023: Wind turbines, solar farms, and house prices

Hans Koster and Dröes, Martijn

15022: Pandemics, Intermediate Goods, and Corporate Valuation

Luc Laeven

15021: The future of the European project: survey results from members of national parliaments in France, Italy and Germany

Pierre Boyer, Sebastian Blesse, Massimo Bordignon, Piergiorgio Carapella, Friedrich Heinemann, Eckhard Janeba and Anasuya Raj

15020: Colonization, Early Settlers and Development: The Case of Latin America

Marta Reynal-Querol and García-Montalvo, José

15019: Currency appreciation, distance to border and price changes: Evidence from Swiss retail prices

Reto Foellmi, Jäggi, Adrian and Fabian Schnell

15018: Sequential Learning with Endogenous Consideration Sets

Alessandro Pavan and Daniel Fershtman

15017: Preparing for the Worst But Hoping for the Best: Robust (Bayesian) Persuasion

Alessandro Pavan and Piotr Dworczak

15016: Mimetic Dominance and the Economics of Exclusion: Private Goods in Public Contexts

Madarász, Kristóf and Alex Imas

15015: Close Competitors? Bilateral Bank Competition and Spatial Variation in Firms’ Access to Credit

Ralph De Haas, Liping Lu and Steven Ongena

15014: The Matthew effect and modern finance: on the nexus between wealth inequality, financial development and financial technology

Leonardo Gambacorta, Jon Frost and Romina Gambacorta

15013: COVID-19, Race, and Redlining

Graziella Bertocchi and Arcangelo Dimico

15012: The Portfolio Composition Effect

Martin Weber and Jan Mueller-Dethard

15011: Transatlantic Technologies: The Role of ICT in the Evolution of U.S. and European Productivity Growth

Robert J. Gordon and Hassan Sayed

15010: Destabilizing Effects of Market Size in the Dynamics of Innovation

Kiminori Matsuyama and Philip Ushchev

15009: Kicking the can down the road: government interventions in the European banking sector

Viral Acharya, Sascha Steffen, Lea Steinruecke and Maximilian Jager

15008: International Migration Responses to Natural Disasters: Evidence from Modern Europe’s Deadliest Earthquake

Yannay Spitzer, Gaspare Tortorici and Ariell Zimran

15007: Going Bankrupt in China

Bo Li and Jacopo Ponticelli

15006: Explaining Monetary Spillovers: The Matrix Reloaded

Andreas Schrimpf, Jonathan Kearns and Fan Dora Xia

15005: Asymmetric Effects of Monetary Policy Easing and Tightening

Mario Forni, Davide Debortoli, Luca Gambetti and Luca Sala

15004: Financial Intermediation and Technology: What’s Old, What’s New?

Luc Laeven, Arnoud Boot, Peter Hoffmann and Lev Ratnovski

15003: Belief Distortions and Macroeconomic Fluctuations

Francesco Bianchi, Sydney Ludvigson and Sai Ma

15002: Why Does Globalization Fuel Populism?

Dani Rodrik

15001: A dilemma between liquidity regulation and monetary policy: some history and theory

Eric Monnet and Miklos Vari

15000: Work from Home Before and After the COVID-19 Outbreak

Alexander Bick, Adam Blandin and Karel Mertens

14999: Pareto-improving reforms of tax deductions

Dominik Sachs and Köhne, Sebastian

14998: Economic preferences across generations and family clusters: A large-scale experiment

Klaus Zimmermann, Shyamal Chowdhury and Matthias Sutter

14997: Education Transmission and Network Formation

Yves Zenou, Vincent Boucher, Carlo Leone Del Bello, Fabrizio Panebianco and Thierry Verdier

14996: Water the Flowers You Want to Grow? Evidence on Private Recognition and Donor Loyalty

Nadja Dwenger, Benjamin Bittschi and Johannes Rincke

14995: Value creation in Shareholder Activism: A Structural Approach

Enrique Schroth, Rui Albuquerque and Vyacheslav Fos

14994: Distance-based social index numbers: a unifying approach

Shlomo Weber, Walter Bossert and Conchita D'Ambrosio

14993: A Game-Theoretical Model of the Landscape Theory

Shlomo Weber, Michel Le Breton and Alexander Shapoval

14992: How Does Kompromat Affect Politics? A Model of Transparency Regimes

Konstantin Sonin and Monika Nalepa

14991: When Does Procompetitive Entry Imply Excessive Entry?

Kiminori Matsuyama

14990: Globalization and Nationalism: Retrospect and Prospect

Maurice Obstfeld

14989: Nonbanks, Banks, and Monetary Policy: U.S. Loan-Level Evidence since the 1990s

Peydró, José-Luis, David Elliott, Ralf Meisenzahl and Bryce C. Turner

14988: Negative Monetary Policy Rates and Systemic Banks’ Risk-Taking: Evidence from the Euro Area Securities Register

Peydró, José-Luis and Angela Maddaloni

14987: The economics of skyscrapers: A synthesis

Gabriel Ahlfeldt and Jason Barr

14986: Sovereign credit and exchange rate risks: Evidence from Asia-Pacific local currency bonds

Mikhail Chernov, Drew Creal and Hördahl, Peter

14985: L’Histoire Immobile? A Reappraisal of French Economic Growth using the Demand-Side Approach, 1280-1850

Alessandro Nuvolari and Leonardo Ridolfi

14984: Welfare improving tax evasion

Helmuth Cremer, Chiara Canta and Firouz Gahvari

14983: Linking Changes in Inequality in Life Expectancy and Mortality: Evidence from Denmark and the United States

Claus Kreiner, Gordon Dahl, Benjamin Ly Serena and Torben Nielsen

14982: Workplace Presenteeism, Job Substitutability and Gender Inequality

Lena Hensvik and Ghazala Azmat

14981: Threat of Taxation, Stagnation and Social Unrest: Evidence from 19th Century Sicily

Dominic Rohner, Gema Lax-Martinez and Alessandro Saia

14980: Income-Driven Labor Market Polarization

Diego Comin, Martí Mestieri and Ana Danieli

14979: Concentration Screens for Horizontal Mergers

Volker Nocke and Michael D. Whinston

14978: Stackelberg Independence

Toomas Hinnosaar

14977: MPCs, MPEs and Multipliers: A Trilemma for New Keynesian Models

Adrien Auclert and Matthew Rognlie

14976: Solving Strong-Substitutes Product-Mix Auctions

Paul Klemperer, Elizabeth Baldwin, Paul Goldberg and Edwin Lock

14975: Identification of Firms' Beliefs in Structural Models of Market Competition

Victor Aguirregabiria

14974: Decentralizing Cooperation through Upstream Bilateral Agreements

Doh-Shin Jeon and Yassine Lefouili

14973: Tackling Youth Unemployment: Evidence from a Labor Market Experiment in Uganda

Imran Rasul, Livia Alfonsi, Oriana Bandiera, Vittorio Bassi, Munshi Sulaiman and Anna Vitali

14972: The Microeconomics of Cryptocurrencies

Neil Gandal, Hanna Halaburda, Guillaume Haeringer and Joshua Gans

14971: Competing with Robots: Firm-Level Evidence from France

Claire Lelarge, Daron Acemoglu and Pascual Restrepo

14970: Technology Adoption and Productivity Growth: Evidence from Industrialization in France

Mara Squicciarini, Juhász, Réka and Voigtländer, Nico

14969: Income inequality under Colonial Rule: Evidence from French Algeria, Cameroon, Tunisia, and Vietnam and comparisons with the Br

Facundo Alvaredo, Denis Cogneau and Thomas Piketty

14968: One Money, Many Markets: Monetary Transmission and Housing Financing in the Euro Area

Giancarlo Corsetti, Joao Duarte and Samuel Mann

14967: Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile

Elias Albagli, Mauricio Calani, Metodij Hadzi-Vaskov, Mario Marcel and Luca Ricci

14966: From Imitation to Innovation: Where Is all that Chinese R&D Going?

Kjetil Storesletten, Michael Koenig, Zheng Song and Fabrizio Zilibotti

14965: Barriers to Entry and Regional Economic Growth in China

Kjetil Storesletten, Loren Brandt and Gueorgui Kambourov

14964: Business Cycle during Structural Change: Arthur Lewis’ Theory from a Neoclassical Perspective

Kjetil Storesletten, Bo Zhao and Fabrizio Zilibotti

14963: Weber Revisited: The Protestant Ethic and the Spirit of Nationalism

Nikolaus Wolf, Felix Kersting and Iris Wohnsiedler

14962: Financial Vulnerability and Risks to Growth in Emerging Markets

Viral Acharya, Soumya Bhadury and Jay Surti

14961: Sovereign Debt and Economic Growth when Government is Myopic and Self-interested

Viral Acharya, Raghuram Rajan and Jack B. Shim

14960: Zombie Credit and (Dis-)Inflation: Evidence from Europe

Viral Acharya, Matteo Crosignani, Tim Eisert and Christian Eufinger

14959: The Anatomy of the Transmission of Macroprudential Policies

Viral Acharya, Katharina Bergant, Matteo Crosignani, Tim Eisert and Fergal McCann

14958: Monetary Easing, Leveraged Payouts and Lack of Investment

Viral Acharya and Guillaume Plantin

14957: In the Shadow of Banks: Wealth Management Products and Issuing Banks’ Risks in China

Viral Acharya, Jun Qian, Yang Su and Zhishu Yang

14956: Liquidity Creation, Investment, and Growth

Thorsten Beck, Döttling, Robin, Thomas Lambert and Mathijs Van Dijk

14955: Can Security Design Foster Household Risk-Taking?

Laurent Calvet, Célérier, Claire and Boris Vallee

14954: Disaggregate Consumption Feedback and Energy Conservation

Lorenz Goette, Andreas Gerster and Mark Andor

14953: Rotation as Contagion Mitigation

Jakub Steiner, Andrea Galeotti and Jeffrey Ely

14952: Trade, Unemployment, and Monetary Policy

Fabio Ghironi and Matteo Cacciatore

14951: Effectiveness and Addictiveness of Quantitative Easing

Peter Karadi and Anton Nakov

14950: The Tax Cuts and Jobs Act: Which Firms Won? Which Lost?

Alexander Wagner, Richard Zeckhauser and Alexandre Ziegler

14949: How the Other Half Died: Immigration and Mortality in US Cities

Philipp Ager, James Feigenbaum, Casper Hansen and Huiren Tan