CEPR Discussion Papers

From Centre for Economic Policy Research
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14477: Why Trump Shot the Sheriffs: The End of WTO Dispute Settlement 1.0

Chad Bown and Soumaya Keynes

14476: Encouraging Others: Punishment and Performance in the Royal Navy

Hans-Joachim Voth and Guo Xu

14475: European Privacy Law and Global Markets for Data

Christian Peukert, Stefan Bechtold, Michail Batikas and Tobias Kretschmer

14474: Why some places are left-behind: urban adjustment to trade and policy shocks

Anthony Venables

14473: Gravity without Apologies: The Science of Elasticities, Distance, and Trade

Celine Carrere, Monika Mrazova and J. Peter Neary

14472: Forecasting in the Presence of Instabilities: How Do We Know Whether Models Predict Well and How to Improve Them

Barbara Rossi

14471: Effects of Passive Smoking on Prenatal and Infant Development: Lessons from the Past

Carlo Ciccarelli, Gianni De Fraja and Daniela Vuri

14470: The Separation and Reunification of Germany: Rethinking a Natural Experiment Interpretation of the Enduring Effects of Communism

Sascha Becker, Lukas Mergele and Ludger Woessmann

14469: A Similarity-based Approach for Macroeconomic Forecasting

Yiannis Dendramis, George Kapetanios and Massimiliano Marcellino

14468: The Big Bang: Stock Market Capitalization in the Long Run

Dmitry Kuvshinov and Kaspar Zimmermann

14467: The market events of mid-September 2019

Gara Afonso, Marco Cipriani, Adam Copeland, Anna Kovner, Gabriele La Spada and Antoine Martin

14466: The Economics of Social Data

Dirk Bergemann, Alessandro Bonatti and Tan Gan

14465: Across-Country Wage Compression in Multinationals

Jonas Hjort, Xuan Li and Heather Sarsons

14464: Information Sharing in a Competitive Microcredit Market

Ralph De Haas, Matteo Millone and J. Bos

14463: How Do Taxpayers Respond to Public Disclosure and Social Recognition Programs? Evidence from Pakistan

Joel Slemrod, Obeid Ur Rehman and Mazhar Waseem

14462: The Overnight Drift

Nina Boyarchenko, Lars Larsen and Paul Whelan

14461: A New Approach to Quantifying, Reducing and Insuring Cyber Risk: Preliminary Analysis and Proposal for Further Research

Neil Gandal, Michael Riordan and Shalom Bublil

14460: The Econometrics of Oil Market VAR Models

Lutz Kilian and Xiaoqing Zhou

14459: Loan Types and the Bank Lending Channel

Victoria Ivashina, Luc Laeven and Enrique Moral-Benito

14458: Government Loan Guarantees, Market Liquidity, and Lending Standards

Toni Ahnert and Martin Kuncl

14457: How noise affects effort in tournaments

Mikhail Drugov and Dmitry Ryvkin

14456: Has the Information Channel of Monetary Policy Disappeared? Revisiting the Empirical Evidence

Lukas Hoesch, Barbara Rossi and Tatevik Sekhposyan

14455: Terrorist Attacks, Cultural Incidents and the Vote for Radical Parties: Analyzing Text from Twitter

Francesco Giavazzi, Felix Iglhaut, Giacomo Lemoli and Gaia Rubera

14454: Simultaneous Search for Differentiated Products: The Impact of Search Costs and Firm Prominence

Moraga-González, José-Luis, Sándor, Zsolt and Matthijs Wildenbeest

14453: Heterogeneous Wealth Effects

Dimitris Christelis, Dimitris Georgarakos, Tullio Jappelli, Luigi Pistaferri and Maarten van Rooij

14452: The Structure of Firms' International Activities

Ronald Davies and James Markusen

14451: Global Value Chains and the Removal of Trade Protection

Chad Bown, Aksel Erbahar and Maurizio Zanardi

14450: Building(s and) cities: Delineating urban areas with a machine learning algorithm

Daniel Arribas-Bel, Miquel-Àngel Garcia-López and Elisabet Viladecans-Marsal

14449: The Impacts of Stricter Merger Legislation on Bank Mergers and Acquisitions: Too-Big-To-Fail and Competition

Elena Carletti, Steven Ongena, Jan-Peter Siedlarek and Giancarlo Spagnolo

14448: Public Expenditure and Private Firm Performance: Using Religious Denominations for Causal Inference

Alpalhão, Henrique, Marta Lopes, Joao Pereira Dos Santos and Tavares, José

14447: Identification of intertemporal preferences in history-dependent dynamic discrete choice models

Matthew R. Levy and Pasquale Schiraldi

14446: Data and Competition: a Simple Framework with Applications to Mergers and Market Structure

Alexandre de Cornière, and Greg Taylor

14445: Robustly Optimal Monetary Policy in a New Keynesian Model with Housing

Klaus Adam and Michael Woodford

14444: Sweet child of mine: Income, health and inequality

Nicolas Berman, Lorenzo Rotunno and Roberta Ziparo

14443: What Are the Labor and Product Market Effects of Automation? New Evidence from France

Philippe Aghion, Céline Antonin, Simon Bunel and Xavier Jaravel

14442: Debt and Financial Crises

Wee Chian Koh, Ayhan Kose, Peter Nagle, Franziska Ohnsorge and Naotaka Sugawara

14441: The Global Financial Resource Curse

Luca Fornaro, Martin Wolf and Gianluca Benigno

14440: The Side Effects of Safe Asset Creation

Sushant Acharya and Keshav Dogra

14439: Benefits and Costs of Debt: The Dose Makes the Poison

Ayhan Kose, Franziska Ohnsorge and Naotaka Sugawara

14438: Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement

Zhen Huo, Andrei Levchenko and Nitya Pandalai-Nayar

14437: The Non-U.S. Bank Demand for U.S. Dollar Assets

Tobias Adrian and Peichu Xie

14436: Forecasting Macroeconomic Risks

Patrick Adams, Tobias Adrian, Nina Boyarchenko and Domenico Giannone

14435: Monetary and Macroprudential Policy with Endogenous Risk

Tobias Adrian, Fernando Duarte, Nellie Liang and Pawel Zabczyk

14434: Cities, Lights, and Skills in Developing Economies

Jonathan Dingel, Antonio Miscio and Donald R Davis

14433: The Political Economy of Populism

Sergei Guriev and Elias Papaioannou

14432: There's More to Marriage than Love: The Effect of Legal Status and Cultural Distance on Intermarriages and Separations

Jerome Adda, Paolo Pinotti and Giulia Tura

14431: What’s Wrong with Fiscal Space?

Charles Wyplosz

14430: On-the-job Search and the Productivity-Wage Gap

Sushant Acharya and Shu Lin Wee

14429: Optimal Monetary Policy According to HANK

Sushant Acharya, Edouard Challe and Keshav Dogra

14428: The Cost of Job Loss

Kenneth Burdett, Carlos Carrillo-Tudela and Melvyn G Coles

14427: Twin Defaults and Bank Capital Requirements

Caterina Mendicino, Kalin Nikolov, Rubio-Ramírez, Juan Francisco, Javier Suarez and Dominik Supera

14426: Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity

Gareth Anderson and Ambrogio Cesa-Bianchi

14425: Consumer Debt and Default: A Macroeconomic Perspective

Florian Exler and Michele Tertilt

14424: Global Imbalances and Policy Wars at the Zero Lower Bound

Ricardo Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas

14423: Rising Protectionism and Global Value Chains: Quantifying the General Equilibrium Effects

Rita Cappariello, Sebastian Franco-Bedoya, Vanessa Gunnella and Gianmarco Ottaviano

14422: Health and Employment amongst Older Workers

Jack Britton and Eric French

14421: Recoupling Economic and Social Prosperity

Katharina Lima de Miranda and Dennis Snower

14420: A Randomized, Controlled, Behavioral Intervention to Promote Walking after Abdominal Organ Transplantation: Results from the LIFT Study

Marina Serper, Iwan Barankay, Sakshum Chadha, Justine Shults, Lauren S. Jones, Kim Olthoff and Peter Reese

14419: Dollar borrowing, firm-characteristics, and FX-hedged funding opportunities

Leonardo Gambacorta, Sergio Mayordomo and Jose Maria Serena Garralda

14418: Operational and cyber risks in the financial sector

Iñaki Aldasoro, Leonardo Gambacorta, Paolo Giudici and Thomas Leach

14417: Asset Pricing vs Asset Expected Returning in Factor-Portfolio Models

Carlo Favero and Alessandro Melone

14416: The Consequences of Treating Electricity as a Right

Robin Burgess, Michael Greenstone, Nicholas Ryan and Anant Sudarshan

14415: Hypothesis tests with a repeatedly singular information matrix

Dante Amengual, Xinyue Bei and Enrique Sentana

14414: Spatial Mismatches and Imperfect Information in the Job Search

Abhijit Banerjee and Sandra Sequeira

14413: The Cultural Origin of Saving Behavior

Joan Costa-i-Font, Paola Giuliano and Berkay Özcan

14412: Strategic Manipulations in Round-Robin Tournaments

Alex Krumer, Reut Megidish and Aner Sela

14411: Reverse Contests

Aner Sela

14410: On the Optimal Allocation of Prizes in Best-of-Three All-Pay Auctions

Aner Sela

14409: Private Credit under Political Influence: Evidence from France

Anne-Laure Delatte, Adrien Matray and Pinardon-Touati, Noémie

14408: (Bad) Reputation in Relational Contracting

Rahul Deb, Matthew Mitchell and Mallesh Pai

14407: The Political Economy of Status Competition: Sumptuary Laws in Preindustrial Europe

Desiree Desierto and Mark Koyama

14406: Exclusionary Pricing in Two-Sided Markets

Andrea Amelio, Liliane Giardino-Karlinger and Tommaso Valletti

14405: Emerging and Developing Economies: Ten Years After the Global Recession

Ayhan Kose and Franziska Ohnsorge

14404: Global Macro-Financial Cycles and Spillovers

Jongrim Ha, Ayhan Kose, Christopher Otrok and Eswar Prasad

14403: Prescription Opioids and Economic Hardship in France

Ilaria Natali, Mathias Dewatripont, Victor Ginsburgh, Michel Goldman and Patrick Legros

14402: Partial Identification and Inference for Dynamic Models and Counterfactuals

Myrto Kalouptsidi, Yuichi Kitamura, Lucas Lima and Eduardo Souza-Rodrigues

14401: Historical Natural Experiments: Bridging Economics and Economic History

Davide Cantoni and Noam Yuchtman

14400: Average Inflation Targeting and the Interest Rate Lower Bound

Flora Budianto, Taisuke Nakata and Sebastian Schmidt

14399: The cost of weak institutions for innovation in China

Rodríguez-Pose, Andrés and Min Zhang

14398: Uncertainty Shocks and Business Cycle Research

Fernández-Villaverde, Jesús

14397: Global Recessions

Ayhan Kose, Naotaka Sugawara and Marco Terrones

14396: From Immigrants to Americans: Race and Assimilation during the Great Migration

Vasiliki Fouka, Soumyajit Mazumder and Marco Tabellini

14395: Did Globalization Kill Contagion?

Olivier Accominotti, Marie Briere, Aurore Burietz, Kim Oosterlinck and Ariane Szafarz

14394: Reclassification Risk in the Small Group Health Insurance Market

Sebastian Fleitas, Gautam Gowrisankaran and Anthony Lo Sasso

14393: Minority Protection in Voting Mechanisms - Experimental Evidence

Dirk Engelmann, Grüner, Hans Peter, Timo Hoffmann and Alex Possajennikov

14392: Different no more: Country spreads in advanced and emerging economies

Benjamin Born, Müller, Gernot, Johannes Pfeifer and Susanne Wellmann

14391: Democratic Support for the Bolshevik Revolution: An Empirical Investigation of 1917 Constituent Assembly Elections

Paul Castaneda Dower and Andrei Markevich

14390: Inflation and the Price of Real Assets

Matteo Leombroni, Monika Piazzesi, Ciaran Rogers and Martin Schneider

14389: Asia’s emergence in global beverage markets: The rise of wine

Kym Anderson

14388: Consumer Taxes on Alcohol: An International Comparison over Time

Kym Anderson

14387: A Model of Global Beverage Markets

Glyn Wittwer and Kym Anderson

14386: Exclusion bias and the estimation of peer effects

Bet Caeyers and Marcel Fafchamps

14385: Social Groups and the Effectiveness of Protests

Marco Battaglini, Rebecca Morton and Eleonora Patacchini

14384: The Rise of Agribusiness and the Distributional Consequences of Policies on Intermediated Trade

Swati Dhingra and Silvana Tenreyro

14383: Talent in Distressed Firms: Investigating the Labor Costs of Financial Distress

Ramin Baghai, Rui Silva, Viktor Thell and Vikrant Vig

14382: Decentralized Targeting of Agricultural Credit Programs: Private versus Political Intermediaries

Pushkar Maitra, Sandip Mitra, Dilip Mookherjee and Sujata Visaria

14381: The Allocation of Authority in Organizations: A Field Experiment with Bureaucrats

Oriana Bandiera, Michael Best, Adnan Khan and Andrea Prat

14380: God Politics

Jeanet Bentzen and Lena Sperling

14379: Bad bank resolutions and bank lending

Michael Brei, Leonardo Gambacorta, Marcella Lucchetta and Bruno Parigi

14378: Globalization Cycles

Maurice Obstfeld