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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12708: Differentiated Durable Goods Monopoly: A Robust Coase Conjecture

Pasquale Schiraldi and Francesco Nava

12707: Decomposing Firm-Product Appeal: How important is Consumer Taste?

Hylke Vandenbussche, Bee Yan Aw-Roberts and Yi Lee

12706: Delegated Expertise, Authority, and Communication

Dezsoe Szalay and Inga Deimen

12705: The cost of non-TTIP: A Global Value Chain Approach

Hylke Vandenbussche, William Connell Garcia and Wouter Simons

12704: Taste for Science, Academic Boundary Spanning and Inventive Performance of Scientists and Engineers in Industry

Reinhilde Veugelers and Sam Arts

12703: What Do Trade Agreements Really Do?

Dani Rodrik

12702: Talent Development and Labour Market Integration: The Case of EU Football

Lars Persson, Norbäck, Pehr-Johan and Martin Olsson

12701: Shift-Share Instruments and the Impact of Immigration

Jan Stuhler, David Jaeger and Joakim Ruist

12700: Evaluating the case for supporting renewable electricity

David M Newbery

12699: Dynamic Contracting with Limited Commitment and the Ratchet Effect

Dino Gerardi

12698: Wage Inequality and Establishment Heterogeneity

Jozef Konings and In Kim

12697: The Effect of Minority Veto Rights on Controller Tunneling

Yishay Yafeh, Jesse Fried and Ehud Kamar

12696: Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets

Maurice Obstfeld, Jonathan Ostry and Mahvash Qureshi

12695: Creative and science-oriented employees and firm-level innovation

Rodríguez-Pose, Andrés, Stephan Brunow and Antonia Birkeneder

12694: Safe Haven CDS Premiums

David Lando and Sven Klinger

12693: Protectionism and the Business Cycle

Fabio Ghironi, Alessandro Barattieri and Matteo Cacciatore

12692: Forecasting Methods in Finance

Allan Timmermann

12691: On the Empirical (Ir)Relevance of the Zero Lower Bound Constraint

Davide Debortoli, Galí, Jordi and Luca Gambetti

12690: Principle or Opportunism? Discretion, Capital, and Incentives

Michel Habib and Josef Falkinger

12689: Market Discipline and Systemic Risk

Alan Morrison and Ansgar Walther

12688: The corporate structure of multinational banks

Alan Morrison and Lóránth, Gyöngyi

12687: Risk Everywhere: Modeling and Managing Volatility

Lasse Pedersen, Tim Bollerslev, Benjamin Hood and John Huss

12686: Betting Against Correlation: Testing Theories of the Low-Risk Effect

Lasse Pedersen, Clifford S. Asness, Andrea Frazzini and Niels Gormsen

12685: Deep Value

Lasse Pedersen, Clifford S. Asness, John M. Liew and Ashwin K Thapar

12684: Size Matters, if You Control Your Junk

Lasse Pedersen, Clifford S. Asness, Andrea Frazzini and Ronen Israel

12683: Turbulence and Unemployment in Matching Models

Lars Ljungqvist, Thomas Sargent and Isaac Baley

12682: Consistent non-Gaussian pseudo maximum likelihood estimators

Enrique Sentana and Gabriele Fiorentini

12681: Monetary Policy and Financial Conditions: A Cross-Country Study

Tobias Adrian, Fernando Duarte, Federico Grinberg and Tommaso Mancini-Griffoli

12680: Financial Vulnerability and Monetary Policy

Tobias Adrian and Fernando Duarte

12679: ‘Getting to Denmark’: the Role of Elites for Development

Paul Sharp, Peter Jensen, Markus Lampe and Christian Skovsgaard

12678: Financial spillovers of international monetary policy: Six hypotheses on the Latin American case, 2010-2016

Sylvester Eijffinger and Jonathan Malagon

12677: Risk-Taking Channel of Monetary Policy

Tobias Adrian, Arturo Estrella and Hyun Song Shin

12676: A Leverage-Based Measure of Financial Stability

Tobias Adrian, Alexander Tepper and Karol Borowiecki

12675: Does Early Child Care Affect Children's Development?

Rafael Lalive and Christina Felfe

12674: Common Ownership, Competition, and Top Management Incentives

Martin Schmalz, Florian Ederer, Mireia Gine and Antón, Miguel

12673: The Reform Dilemma in Polarized Democracies

Hans Gersbach and Oriol Tejada

12672: Balanced Voting

Hans Gersbach and Kamali Wickramage

12671: Monetary Policy and Asset Valuation

Martin Lettau, Sydney Ludvigson and Francesco Bianchi

12670: The Nature of Firm Growth

Vincent Sterk, SedlÃ¡Ä ek, Petr and Benjamin Pugsley

12669: Supply Shocks in the Market for Apprenticeships: Evidence from a German High School Reform

Gerard Pfann, Samuel Muehlemann, Harald Pfeifer and Hans Dietrich

12668: Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China

Alberto Manconi, Fabio Braggion and Haikun Zhu

12667: Integrability and Generalized Separability

Thibault Fally

12666: Debt Traps? Market Vendors and Moneylender Debt in India and the Philippines

Dean Karlan, Sendhil Mullainathan and Benjamin N. Roth

12665: Generalized Recovery

Lasse Pedersen, Christian Skov Jensen and David Lando

12664: Efficiently Inefficient Markets for Assets and Asset Management

Lasse Pedersen and Nicolae Bogdan Garleanu

12663: Disentangling Occupation- and Sector-specific Technological Change

Zsofia Barany and Christian Siegel

12662: Israel’s Immigration Story: Winners and Losers

Assaf Razin

12661: News Shocks and the Production-Based Term Structure of Equity Returns

Mariano Croce, Hengjie Ai, Kai Li and Anthony Diercks

12660: Ice(berg) transport costs

Maarten Bosker and Eltjo Buringh

12659: The Microfinance Disappointment: An Explanation based on Risk Aversion

Omer Moav, Alexey Khazanov, Zvika Neeman and Hosny Zoabi

12658: Show us your shorts!

Bige Kahraman and Salil Pachare

12657: Paths to Convergence: Stock Price Behavior After Donald Trump's Election

Alexander Wagner, Richard Zeckhauser and Alexandre Ziegler

12656: Time-Consistently Undominated Policies

Charles Brendon and Martin Ellison

12655: What do we know about the effects of austerity?

Carlo Favero, Francesco Giavazzi and Alberto Alesina

12654: Exchange Rate Exposure and Firm Dynamics

Liliana Varela and Juliana Salomao

12653: Unpacking a Multi-Faceted Program to Build Sustainable Income for the Very Poor

Dean Karlan, Abhijit Banerjee, Robert Osei, Hannah Trachtman and Christopher Udry

12652: A Trendy Approach to UK Inflation Dynamics

Kristin Forbes, Lewis Kirkham and Konstantinos Theodoridis

12651: Effects of Copyrights on Science - Evidence from the US Book Republication Program

Petra Moser and Barbara Biasi

12650: Forward Guidance and Heterogeneous Beliefs

Gaetano Gaballo, Philippe Andrade, Eric Mengus and Benoit Mojon

12649: On the Effect of Parallel Trade on Manufacturers' and Retailers' Profits in the Pharmaceutical Sector

Pierre Dubois and Morten Sæthre

12648: Reputations and credit ratings: evidence from commercial mortgage-backed securities

Ramin Baghai and Bo Becker

12647: Policies for decarbonizing a liberalized power sector

David M Newbery

12646: Financial constraints, institutions, and foreign ownership

Nicolas Berman, Ron Alquist, Rahul Mukherjee and Linda Tesar

12645: Managing Relational Contracts

Marta Troya Martinez and Liam Wren-Lewis

12644: Tourism and Economic Development: Evidence from Mexico’s Coastline

Gaubert, Cécile and Benjamin Faber

12643: Pricing Assets in a Perpetual Youth Model

Roger Farmer

12642: Pricing Carbon Under Economic and Climactic Risks: Leading-Order Results from Asymptotic Analysis

Frederick (Rick) van der Ploeg and ,

12641: The Macroeconomics of Rational Bubbles: A User's Guide

Jaume Ventura and Martín, Alberto

12640: Persuasion with Correlation Neglect: Media Power via Correlation of News Content

Gilat Levy, Ines Moreno de Barreda and Ronny Razin

12639: The ladder of internationalization modes: Evidence from European firms

Békés, Gábor and Muraközy, Balázs

12638: Temporary Price Changes, Inflation Regimes and the Propagation of Monetary Shocks

Francesco Lippi and Fernando Alvarez

12637: How Large is the Corporate Tax Base Erosion and Profit Shifting? A General Equilibrium Approach

Nicodème, Gaëtan, Diego d'Andria, Maria Alvarez-Martinez, Salvador Barrios, Maria Gesualdo and Jonathan Pycroft

12636: Inequality of opportunity, governance and individual beliefs

J. Michelle Brock

12635: ECB interventions in distressed sovereign debt markets: The case of Greek bonds

Jeromin Zettelmeyer and Christoph Trebesch

12634: Leniency, Asymmetric Punishment and Corruption: Evidence from China

Giancarlo Spagnolo, Maria Berlin and Bei Qin

12633: Adverse Selection and Moral Hazard in the Leasing Market: Are Buybacks the Solution?

Sarit Weisburd, Daniel Bird and Ronny Ben-Porath

12632: The Impact of High School Financial Education on Financial Knowledge and Choices: Evidence from a Randomized Trial in Spain

Olympia Bover, Laura Hospido and Ernesto Villanueva

12631: The Leading Premium

Mariano Croce, Christian Schlag and Tatyana Marchuk

12630: Immigration into Prejudiced Societies: Segregation and Echo Chambers effects

Gilat Levy and Ronny Razin

12629: Exchange Traded Funds 101 For Economists

Martin Lettau and Ananth Madhavan

12628: Capital Share Risk in U.S. Asset Pricing

Martin Lettau, Sydney Ludvigson and Sai Ma

12627: A bottom-up, non-cooperative approach to climate change control: Assessment and comparison of Nationally Determined Contribut

Carlo Carraro

12626: The anatomy of a trade collapse: The UK, 1929-33

Kevin O'Rourke, Alan de Bromhead, Alan Fernihough and Markus Lampe

12625: International Commodity Prices and Civil War Outbreak: New Evidence for Sub-Saharan Africa and Beyond

Antonio Ciccone

12624: Modeling Your Stress Away

Friederike Niepmann and Viktors Stebunovs

12623: Intermediation markups and monetary policy pass-through

Andreas Schrimpf and Semyon Malamud

12622: Religions, Fertility, and Growth in South-East Asia

David de la Croix and Clara Delavallade

12621: Cumulative Effects of Brexit and Other UK and EU27 Bilateral FTAs on the World’s Wine Markets

Kym Anderson and Glyn Wittwer

12620: 21st Century Trade Agreements and the Owl of Minerva

Douglas Nelson

12619: Skin-in-the-Game in ABS Transactions: A Critical Review of Policy Options

Jan Krahnen and Christian Wilde

12618: The (Self-) Funding of Intangibles

Enrico Perotti, Döttling, Robin and Tomislav Ladika

12617: Government Debt and the Returns to Innovation

Lukas Schmid, Mariano Croce, Steve Raymond and Thiên Tung Nguyen

12616: Activism and Takeovers

Mike Burkart and Samuel Lee

12615: Declining Business Dynamism

Jozef Konings and Gert Bijnens

12614: The Heterogeneous Price of a Vote: Evidence from France, 1993-2014

Cagé, Julia and Yasmine Bekkouche

12613: Are CEOs More Likely to Be First-Borns?

Custódio, Cláudia and Stephan Siegel

12612: Bait and Ditch: Consumer Naiveté and Salesforce Incentives

Fabian Herweg and Antonio Rosato

12611: Lie Symmetries and Essential Restrictions in Economic Optimization

Eran Yashiv and Gadi Perets

12610: Currency Risk Factors in a Recursive Multicountry Economy

Mariano Croce, Federico Gavazzoni, Ric Colacito and Robert Ready

12609: Do Preferences and Biases predict Life Outcomes? Evidence from Education and Labor Market Entry Decisions

Michael Kosfeld, Holger Herz, Yvonne Oswald and Uschi Backes-Gellner