CEPR Discussion Papers

From Centre for Economic Policy Research
33 Great Sutton Street, London EC1V 0DX, UK.
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12563: The Lasting Legacy of Seasonal Influenza: In-Utero Exposure and Labor Market Outcomes

Hannes Schwandt

12562: Wealth Shocks and Health Outcomes: Evidence from Stock Market Fluctuations

Hannes Schwandt

12561: Gender Differences in Alternating-Offer Bargaining: An Experimental Study

Hernandez-Arenaz, Iñigo and Nagore Iriberri

12560: The Fragility of Market Risk Insurance

Ralph Koijen and Motohiro Yogo

12559: Versatile Forward Guidance: Escaping or Switching?

Hans Gersbach, Yulin Liu and Martin Tischhauser

12558: Environmental externalities and free-riding in the household

Kelsey Jack, Seema Jayachandran and Sarojini Rao

12557: The Simple Economics of White Elephants

Juan Jose Ganuza Fernandez and Gerard Llobet

12556: Conventional Power Plants in Liberalized Electricity Markets with Renewable Entry

Gerard Llobet and Jorge Padilla

12555: Distrust and Political Turnover

Nathan Nunn, Nancy Qian and Jaya Wen

12554: Employment Protection Legislation, Labor Courts, and Effective Firing Costs

Juan F Jimeno, Martínez-Matute, Marta and Juan Mora-Sanguinetti

12553: Measuring monetary policy deviations from the Taylor rule

Joao Madeira and Nuno Palma

12552: The Political Boundaries of Ethnic Divisions

Samuel Bazzi and Matthew Gudgeon

12551: Welfare Effects of Housing Transaction Taxes

Määttänen, Niku and Terviö, Marko

12550: Childcare and Commitment within Households

Paula Gobbi

12549: On the Measurement of Upstreamness and Downstreamness in Global Value Chains

Pol Antràs and Davin Chor

12548: Effects of government spending on employment: Evidence from winners and runners-up in procurement auctions

Klaus Gugler, Michael Weichselbaumer and Christine Zulehner

12547: Buyer Group and Buyer Power When Sellers Compete

Doh-Shin Jeon and Domenico Menicucci

12546: On Second Thoughts, Selective Memory, and Resulting Behavioral Biases

Philippe Jehiel and Jakub Steiner

12545: Structural Transformation, Marketization, and Household Production around the World

Benjamin Bridgman, Georg Duernecker and Berthold Herrendorf

12544: Who Becomes an Inventor in America? The Importance of Exposure to Innovation

Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova and John van Reenen

12543: Clustering, Growth, and Inequality in China

Di Guo, Kun Jiang, Cheng-Gang Xu and Xiyi Yang

12542: Meetings and Mechanisms

Xiaoming Cai, Pieter Gautier and Ronald Wolthoff

12541: The Combination of Monetary and Fiscal Policy Shocks: A TVP-FAVAR Approach

Francesco Molteni and Evi Pappa

12540: Reconciliating Relational Contracting and Hold-up: A Model of Repeated Negotiations

Goldlücke, Susanne and Sebastian Kranz

12539: Do Lower Minimum Wages for Young Workers Raise their Employment? Evidence from a Danish Discontinuity

Claus Kreiner, Daniel Reck and Peer Skov

12538: Goals and Gaps: Educational Careers of Immigrant Children

Michela Carlana, Eliana La Ferrara and Paolo Pinotti

12537: The Effectiveness of Hiring Credits

Pierre Cahuc, Carcillo, Stéphane and Thomas Le Barbanchon

12536: Declining Competition and Investment in the U.S

German Gutierrez and Thomas Philippon

12535: Credit controls as an escape from the trilemma. The Bretton Woods experience

Eric Monnet

12534: The Macroeconomic Effects of Trade Tariffs: Revisiting the Lerner Symmetry Result

Lindé, Jesper and Andrea Pescatori

12533: Should We Use Linearized Models To Calculate Fiscal Multipliers?

Lindé, Jesper and Mathias Trabandt

12532: Structural Interpretation of Vector Autoregressions with Incomplete Identification: Revisiting the Role of Oil Supply and Demand Shocks

Christiane Baumeister and James Hamilton

12531: How Far Can Economic Incentives Explain the French Fertility and Education Transition?

David de la Croix and Faustine Perrin

12530: Weak States: Causes and Consequences of the Sicilian Mafia

Daron Acemoglu, Giuseppe De Feo and Giacomo De Luca

12529: Distortion by Audit: Evidence from Public Procurement

Maria Paula Gerardino, Stephan Litschig and Dina Pomeranz

12528: Sticky Expectations and the Profi tability Anomaly

Jean-Philippe Bouchaud, Philipp Krueger, Augustin Landier and David Thesmar

12527: New Experimental Evidence on Expectations Formation

Augustin Landier, Yueran Ma and David Thesmar

12526: CAPM-Based Company (Mis)valuations

Olivier Dessaint, Jacques Olivier, Clemens Otto and David Thesmar

12525: Discriminatory Pricing of Over-The-Counter Derivatives

Harald Hau, Peter Hoffmann, Sam Langfield and Yannick Timmer

12524: Horizontal and Vertical Polarization: Task-Specific Technological Change in a Multi-Sector Economy

Sang Yoon (Tim) Lee and Yongseok Shin

12523: Man vs. Machine in Predicting Successful Entrepreneurs: Evidence from a Business Plan Competition in Nigeria

David McKenzie and Dario Sansone

12522: The Rise and Fall of Consumption in the '00s. A Tangled Tale

Yuliya Demyanyk, Dmytro Hryshko, Maria Luengo-Prado and Sørensen, Bent E

12521: Classical or Gravity? Which trade model best matches the UK facts?

A. Patrick Minford and Yongdeng Xu

12520: Exploiting MIT Shocks in Heterogeneous-Agent Economies: The Impulse Response as a Numerical Derivative

Timo Boppart, Per Krusell and Kurt Mitman

12519: Secular Trends and Technological Progress

Döttling, Robin and Enrico Perotti

12518: Vertical Integration, Supplier Behavior, and Quality Upgrading among Exporters

Christopher Hansman, Jonas Hjort, Gianmarco León-Ciliotta and Matthieu Teachout

12517: Welfare and Redistribution in Residential Electricity Markets with Solar Power

Fabian Feger, Nicola Pavanini and Doina Radulescu

12516: URBANIZATION PATTERNS, INFORMATION DIFFUSION AND FEMALE VOTING IN RURAL PARAGUAY

Alberto Chong, Gianmarco León-Ciliotta, Vivian Roza, Martín Valdivia and Gabriela Vega

12515: The Effect of School Starting Age on Special Needs Incidence and Child Development into Adolescence

Simone Balestra, Beatrix Eugster and Helge Liebert

12514: Beetles: Biased Promotions and Persistence of False Belief

George Akerlof and Pascal Michaillat

12513: Fund Tradeoffs

Pástor, Luboš, Robert Stambaugh and Lucian Taylor

12512: The Contingent Effect of Alliance Design on Alliance Dynamics and Performance: An Experimental Study

Albert Banal-Estanol, Tobias Kretschmer, Debrah Meloso and Jo Seldeslachts

12511: Duplicative research, mergers and innovation

Vincenzo Denicolo and Michele Polo

12510: When is foreign exchange intervention effective? Evidence from 33 countries

Marcel Fratzscher, Oliver Gloede, Lukas Menkhoff, Lucio Sarno and Stöhr, Tobias

12509: The Rate of Return on Everything, 1870-2015

Oscar Jorda, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick and Alan Taylor

12508: Ordering History Through the Timeline

Eugenio Garibaldi and Pietro Garibaldi

12507: Cost-Sharing Design Matters: A Comparison of the Rebate and Deductible in Healthcare

Minke Remmerswaal, Jan Boone, Michiel Bijlsma and Rudy Douven

12506: Consumer Demand for Credit Card Services

Alexei Alexandrov, Ozlem Bedre Defolie and Daniel Grodzicki

12505: Are international banks different? Evidence on bank performance and strategy

Ata Bertay, Demirgüç-Kunt, Asli and Harry Huizinga

12504: Firms and Collective Reputation: a Study of the Volkswagen Emissions Scandal

Bachmann, Rüdiger, Gabriel Ehrlich, Ying Fan and Dimitrije Ruzic

12503: Deadlock on the Board

Jason Donaldson, Nadya Malenko and Giorgia Piacentino

12502: Market Power and the Laffer Curve

Eugenio Miravete, Katja Seim and Jeff Thurk

12501: International Credit Supply Shocks

Ambrogio Cesa-Bianchi, Andrea Ferrero and Alessandro Rebucci

12500: Savings Banks and the Industrial Revolution in Prussia Supporting Regional Development with Public Financial Institutions

Sibylle Lehmann-Hasemeyer and Fabian Wahl

12499: A new year, a new you? Heterogeneity and self-control in food purchases

Laurens Cherchye, Bram De Rock, Rachel Griffith, Martin O'Connell, Kate Smith and Frederic Vermeulen

12498: Dynamic Vertical Foreclosure

Chiara Fumagalli and Massimo Motta

12497: Redistributive Consequences of Abolishing Uniform Contribution Policies in Pension Funds

Damiaan Chen and Sweder van Wijnbergen

12496: The Social Origins of Inventors

Philippe Aghion, Ufuk Akcigit, Ari Hyytinen and Otto Toivanen

12495: Structural Change and the Supply of Agricultural Workers

Tommaso Porzio and Gabriella Santangelo

12494: Fiscal Policy with an Informal Sector

Harris Dellas, Dimitrios Malliaropulos, Dimitris Papageorgiou and Evangelia Vourvachaki

12493: Prize allocation and incentives in team contests

Benoit Crutzen, Sabine Flamand and Nicolas Sahuguet

12492: On the Optimal Majority Rule

Olivier Compte and Philippe Jehiel

12491: Do the rich pay their taxes early?

Andreas Fischer and Lucca Zachmann

12490: The behavior of the money multiplier during and after the subprime crisis: Implications for the transmission mechanism of monetary policy

Alex Cukierman

12489: International evidence on professional interest rates forecasts: The impact of forecasting ability

Alex Cukierman and Thomas Lustenberger

12488: Rising Stars

Erich Battistin and Marco Ovidi

12487: Grandmothers' Labor Supply

Wolfgang Frimmel, Martin Halla, Bernhard Schmidpeter and Rudolf Winter-Ebmer

12486: The Price Effects of Liquidity Shocks: A Study of SEC’s Tick-Size Experiment

Rui Albuquerque, Shiyun Song and Chen Yao

12485: Network Structure and Consolidation in the U.S. Airline Industry, 1990-2015

Federico Ciliberto, Emily Cook and Jonathan Williams

12484: How well targeted are soda taxes?

Pierre Dubois, Rachel Griffith and Martin O'Connell

12483: On Monotone Strategy Equilibria in Simultaneous Auctions for Complementary Goods

Matthew Gentry, Tatiana Komarova, Pasquale Schiraldi and Wiroy Shin

12482: On the Value of Persuasion by Experts

Ricardo Alonso and Câmara, Odilon

12481: Philippine Inequality across the Twentieth Century: Slim Evidence but Fat Questions

Jeffrey Williamson

12480: The Value of Online Scarcity Signals

Pascal Courty and Sinan Ozel

12479: Failure of the Becker-Degroot-Marschak Mechanism in Inexperienced Subjects: New Tests of the Game Form Misconception Hypothesis

Charlie Bull, Pascal Courty, Maurice Doyon and Daniel Rondeau

12478: A Pure Hedonic Theory of Utility and Status: Unhappy but Effcient Invidious Comparisons

Pascal Courty and Merwan Engineer

12477: The Effects of a Day Off from Retail Price Competition: Evidence on Consumer Behavior and Firm Performance in Gasoline Retailing

Øystein Foros, Mai Nguyen-Ones and Frode Steen

12476: House Price Beliefs And Mortgage Leverage Choice

Michael Bailey, Eduardo Davila, Theresa Kuchler and Ströbel, Johannes

12475: Hierarchical Bank Supervision

Rafael Repullo

12474: Heterogeneous Effects of Performance Pay with Market Competition: Evidence from a Randomized Field Experiment

Pooyan Khashabi, Matthias Heinz, Nick Zubanov, Tobias Kretschmer and Guido Friebel

12473: The revenge of the places that don’t matter (and what to do about it)

Rodríguez-Pose, Andrés

12472: Relationship Trading in OTC Markets

Terrence Hendershott, Dan Li, Dmitry Livdan and Schürhoff, Norman

12471: Tax Simplicity and Heterogeneous Learning

Philippe Aghion, Ufuk Akcigit, Matthieu Lequien and Stefanie Stantcheva

12470: Identification of Counterfactuals in Dynamic Discrete Choice Models

Myrto Kalouptsidi, Paul Scott and Eduardo Souza-Rodrigues

12469: Tax Revenues, Development, and the Fiscal Cost of Trade Liberalization, 1792-2006

Julia Cagé and Lucie Gadenne

12468: The Agnostic’s Response to Climate Deniers: Price Carbon!

Frederick (Rick) van der Ploeg and Armon Rezai

12467: Structural Change within the Service Sector and the Future of Baumol's Disease

Georg Duernecker, Berthold Herrendorf and Akos Valentinyi

12466: Religious Tolerance as Engine of Innovation

Francesco Cinnirella and Jochen Streb

12465: Regulatory Reform: A Scorecard

Stephen Cecchetti and Kermit Schoenholtz

12464: Socioeconomic Status and Macroeconomic Expectations

Sreyoshi Das, Camelia Kuhnen and Stefan Nagel