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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10986: What Do We Know About Fiscal Multipliers?

Carlo Favero and Madina Karamysheva

10985: How costly is corporate bankruptcy for the CEO?

Bjorn Eckbo, Karin Thorburn and Wei Wang

10984: What Drives Financial Reform? Economics and Politics of the State-Level Adoption of Municipal Bankruptcy Laws

Stefano Rossi

10983: Competition in Treasury Auctions

Christine Zulehner, Philipp Schmidt-Dengler and Helmut Elsinger

10982: Short-Term Pain for Long-Term Gain: Market Deregulation and Monetary Policy in Small Open Economies

Fabio Ghironi, Romain Duval, Giuseppe Fiori and Matteo Cacciatore

10981: Inferring Risk Perceptions and Preferences using Choice from Insurance Menus: Theory and Evidence

Johannes Spinnewijn, Philipp Kircher, Keith Ericson and Amanda Starc

10980: Does Science Advance One Funeral at a Time?

Pierre Azoulay, Christian Fons-Rosen and Joshua Graff Zivin

10979: The GATT's Starting Point: Tariff Levels circa 1947

Douglas Irwin and Chad Bown

10978: Arsenic Contamination of Drinking Water and Mental Health

Klaus Zimmermann, Annabelle Krause-Pilatus and Shyamal Chowdhury

10977: Are Competitors Forward Looking in Strategic Interactions? Evidence from the Field

Rudolf Winter-Ebmer, Uwe Sunde, Mario Lackner and Rudi Stracke

10976: The Impact of Consumer Inattention on Insurer Pricing in the Medicare Part D Program

Fiona Scott Morton, Kate Ho and Joseph Hogan

10975: Homeownership of immigrants in France: selection effects related to international migration flows

Laurent Gobillon and Matthieu Solignac

10974: Economic impossibilities for our grandchildren?

Kevin O'Rourke

10973: Measuring and Changing Control: Women's Empowerment and Targeted Transfers

Orazio Attanasio, Pedro Carneiro, Almås, Ingvild and Alex Armand

10971: Heterogenous Taxes and Limited Risk Sharing: Evidence from Municipal Bonds

Christian T Lundblad, Chotibhak Jotikasthira and Tania Babina

10970: Identifying Effects of Multivalued Treatments

Salanié, Bernard

10969: Information, authority, and smooth communication in organizations

Dezsoe Szalay and Inga Deimen

10968: Patents Rights, Innovation and Firm Exit

Mark Schankerman and Alberto Galasso

10967: Providing Advice to Job Seekers at Low Cost: An Experimental Study on On-Line Advice

Michèle Belot and Philipp Kircher

10966: Has the Pricing of Stocks Become More Global?

Alexander Wagner, Andreas Schrimpf and Ivan Petzev

10965: Does the CAMEL bank ratings system follow a procyclical pattern?

Christian Wolff and Nikolaos Papanikolaou

10964: Financial Intermediation, Capital Accumulation, and Recovery

Jean Rochet, Hans Gersbach and Martin Scheffel

10963: On Zombie Banks and Recessions after Systemic Banking Crises

Sweder van Wijnbergen

10962: Tariff Reductions, Entry, and Welfare: Theory and Evidence for the Last Two Decades

Lorenzo Caliendo, Robert Feenstra, John Romalis and Alan Taylor

10961: Dragons, Giants, Elephants and Mice: Evolution of the MFN Free Rider Problem in the WTO Era

Anna Maria Mayda, Rodney Ludema and Jonathan C. F. McClure

10960: Cocos, Contagion and Systemic Risk

Sweder van Wijnbergen and Stephanie Chan

10959: Effective European Antitrust: Does EC Merger Policy Generate Deterrence

Jo Seldeslachts, Tomaso Duso, Joseph Clougherty and Miyu Lee

10958: Climate Change and Long-Run Discount Rates: Evidence from Real Estate

Stefano Giglio, Ströbel, Johannes, Matteo Maggiori and Andreas Weber

10957: Social Ties and the Efficiency of Factor Transfers

Marcel Fafchamps, Ulrik Beck and Benedikte Bjerge

10956: Optimal Dynamic Contracting: the First-Order Approach and Beyond

Marco Battaglini and Rohit Lamba

10955: The Conquest of Israeli Inflation and Current Policy Dilemmas

Alex Cukierman and Rafi Melnick

10954: Mass Media and Social Change: Can We Use Television to Fight Poverty?

Eliana La Ferrara

10953: Information Frictions and Adverse Selection: Policy Interventions in Health Insurance Markets

Johannes Spinnewijn, Jonathan Kolstad and Benjamin R. Handel

10952: Firm and Market Response to Saving Constraints: Evidence from the Kenyan Dairy Industry

Rocco Macchiavello and Lorenzo Casaburi

10951: Is bread gained by deceit sweet to a man? Corruption and firm efficiency

Jan Hanousek, Anastasiya Shamshur and Jiri Tresl

10950: Sovereign Debt Restructurings: Preemptive or Post-Default

Christoph Trebesch and Tamon Asonuma

10949: On the separation of monetary and prudential policy: how much of the pre-crisis consensus remains?

Stephen Cecchetti

10948: Double Bank Runs and Liquidity Risk Management

Peydró, José-Luis, Enrico Sette, Andrea Polo and Filippo Ippolito

10947: Macroeconomic-Driven Prepayment Risk and the Valuation of Mortgage-Backed Securities

Mikhail Chernov, Francis Longstaff and Brett R. Dunn

10946: Measuring expectations from household surveys: New results on subjective probabilities of future house prices

Olympia Bover

10945: The economic consequences of mutual help in extended families

Jean-Marie Baland and Catherine Guirkinger

10944: Socially Disadvantaged Groups and Microfinance in India

Rohini Somanathan, Jean-Marie Baland and ,

10943: Community rating in health insurance: trade-off between coverage and selection

Jan Boone and Gijsbert Zwart

10942: Signaling Cooperation

Heiner Schumacher and Matthias Heinz

10941: Cross-Licensing and Competition

Doh-Shin Jeon and Yassine Lefouili

10940: Risk Sharing in a World Economy with Uncertainty Shocks

Robert Kollmann

10939: Attention and Saliency on the Internet: Evidence from an Online Recommendation System

Pramila Krishnan, Christian Helmers and Manasa Patnam

10938: Betting on Exports: Trade and Endogenous Heterogeneity

Alessandra Bonfiglioli, Gino Gancia and Crinò, Rosario

10937: Economic Uncertainty and Structural Reforms

Alessandra Bonfiglioli and Gino Gancia

10936: World Asset Markets and the Global Financial Cycle

Helene Rey and Silvia Miranda-Agrippino

10935: The Long-Term Impacts of International Migration: Evidence from a Lottery

John Gibson, Steven Stillman, David McKenzie and Halahingano Rohorua

10934: The Distribution of Debt Across Euro Area Countries: The Role of Individual Characteristics, Institutions and Credit Conditions

Olympia Bover, Philip Du Caju, Ernesto Villanueva, Sónia Costa, Yvonne McCarthy, Jose Casado, Panagiota Tzamourani, Eva Sierminska and Tibor Zavadil

10933: Commuting, Migration and Local Employment Elasticities

Stephen Redding, Esteban Rossi-Hansberg and Ferdinando Monte

10932: Trade in parts and components across Europe

Richard Frensch, Jan Hanousek and KoÄ enda, Evžen

10931: Quality and the Great Trade Collapse

Natalie Chen and Luciana Juvenal

10930: Gender and the Effect of Working Hours on Firm-Sponsored Training

Jan C. van Ours and Matteo Picchio

10929: Labor Supply Effects of Winning a Lottery

Jan C. van Ours, Sigrid Suetens and Matteo Picchio

10928: Network Effects on Worker Productivity

Yves Zenou, Matthew Lindquist and Jan Sauermann

10927: Countercyclical Foreign Currency Borrowing: Eurozone Firms in 2007-2009

Philippe Bacchetta and Ouarda Merrouche

10926: The second wave of global liquidity: Why are firms acting like financial intermediaries?

Andrew Powell, Ugo Panizza and Julian Caballero

10925: Corruption in PPPs, Incentives and Contract Incompleteness

David Martimort and Elisabetta Iossa

10924: Competitiveness and the gender gap among young business professionals

Luigi Zingales, Paola Sapienza and Ernesto Reuben

10923: WSJ Category Kings - the impact of media attention on consumer and mutual fund investment decisions

Ron Kaniel and Robert Parham

10922: A Positive Theory of Tax Reform

Ethan Ilzetzki

10921: Inter- and intra-firm linkages: Evidence from microgeographic location patterns

Kristian Behrens and Vera Sharunova

10920: Inequality, Public Wealth, and the Federal Shareholder

Giacomo Corneo

10919: Contracting and the Division of the Gains from Trade

Andrew Bernard and Swati Dhingra

10918: Systemic Loops and Liquidity Regulation

Ester Faia and Iñaki Aldasoro

10917: International Corporate Governance Spillovers: Evidence from Cross-Border Mergers and Acquisitions

Pedro Pinto Matos, Rui Albuquerque, Miguel Ferreira and Luis Brandao-Marques

10916: Institutional Investors and Corporate Political Activism

Rui Albuquerque, Chendi Zhang and Rocholl, Jörg

10915: The Welfare Gains from Macro-Insurance Against Natural Disasters

Olivier Jeanne, Eduardo Borensztein and Eduardo Cavallo

10914: Demand-Driven Integration and Divorcement Policy

Andrew Newman

10913: Treatment Versus Regime Effects of Carrots and Sticks

Gerard van den Berg, Rafael Lalive and Patrick Arni

10912: Voting and contributing when the group is watching

Charles Louis-Sidois

10911: Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment in Israel

Yishay Yafeh, Eugene Kandel, Assaf Hamdani and Yevgeny Mugerman

10910: Forecasting Unemployment across Countries: the Ins and Outs

Régis Barnichon and Paula Garda

10909: Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence

Jonathan Ostry, Atish Ghosh, Olivier Blanchard and Marcos Chamon

10908: Trading Votes for Votes. A Decentralized Matching Algorithm

Alessandra Casella and Thomas Palfrey

10907: Beyond Truth-Telling: Preference Estimation with Centralized School Choice and College Admissions

Gabrielle Fack, Julien Grenet and YingHua He

10906: Price Dispersion and Informational Frictions: Evidence from Supermarket Purchases

Pierre Dubois and Helena Perrone

10905: Global Imbalances and Currency Wars at the ZLB

Ricardo Caballero, Pierre-Olivier Gourinchas and Emmanuel Farhi

10904: Monetary Policy in Turkey after Central Bank Independence

Gürkaynak, Refet, Yıldırım-Karaman, Seçil, Mustafa Anil Tas and Zeynep Kantur

10903: Comparative Advantage, International Trade, and Fertility

Andrei Levchenko, Quy-Toan Do and Claudio Raddatz

10902: The Permanent Effects of Fiscal Consolidations

Lawrence Summers and Fatás, Antonio

10901: Lending-of-last-resort is as lending-of-last-resort does: Central bank liquidity provision and interbank market functioning in

Florian Heider, Simone Manganelli, Marie Hoerova and Carlos Garcia-de-Andoain

10900: Measuring Economic Policy Uncertainty

Steven Davis, Nicholas Bloom and Scott Baker

10899: Income Inequality and Asset Prices under Redistributive Taxation

Pietro Veronesi and Pástor, Luboš

10898: The Pitfalls of External Dependence: Greece, 1829-2015

Carmen Reinhart and Christoph Trebesch

10897: Distributional Consequences of Asset Price Inflation in the Euro Area

Klaus Adam and Panagiota Tzamourani

10896: Marginal Tax Rates and Income: New Time Series Evidence

Karel Mertens

10895: The Optimal Coordination of Fiscal and Monetary Policy in a New Keynesian Framework

David Vines and Paul Luk

10894: Monetary and fiscal policy in the Great Moderation and the Great Recession

Christopher Allsopp and David Vines

10893: Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis

Michael Woodford and Mariana Garcia-Schmidt

10892: Speculation and the Bond Market: An Empirical No-arbitrage Framework

Kristoffer Nimark and Francisco Barillas

10891: Ripple effects from industry defaults

Christian Wolff, Dennis Bams and Magdalena Pisa

10890: Leverage and risk in US commercial banking in the light of the current financial crisis

Christian Wolff and Nikolaos Papanikolaou

10889: Credit risk characteristics of US small business portfolios

Christian Wolff, Dennis Bams and Magdalena Pisa

10888: Electoral Competition with Rationally Inattentive Voters

Guido Tabellini and Matějka, Filip

10887: Demographics and the Secular Stagnation Hypothesis in Europe

Carlo Favero and Vincenzo Galasso

10886: Trade and Towns: Heterogeneous Adjustment to a Border Shock

Brülhart, Marius, Frederic Robert-Nicoud and Carrère, Céline