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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9479: Bank Capital and Dividend Externalities

Hyun Song Shin, Viral Acharya and Hanh Le

9478: Worker Identity, Employment Fluctuations and Stabilization Policy

Dennis Snower and Wolfgang Lechthaler

9477: Motivating Knowledge Agents: Can Incentive Pay Overcome Social Distance?

Maitreesh Ghatak, Erlend Berg, D Rajasekhar and R Manjula

9476: Fiscal consolidation: austerity and alternatives

Marcus Miller

9475: A Reverse Holdup Problem: When workers? lack of bargaining power slows economic adjustments

Antonio Estache and Renaud Foucart

9474: Moving to a Job: The Role of Home Equity, Debt, and Access to Credit

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

9473: Optimal fiscal policy

C. N. Teulings and Jasper Lukkezen

9472: Which Fundamentals Drive Exchange Rates? A Cross-Sectional Perspective

Lucio Sarno and Maik Schmeling

9471: Policy Coordination, Convergence, and the Rise and Crisis of EMU Imbalances

Giuseppe Bertola

9470: Dynamic Effects of Credit Shocks in a Data-Rich Environment

Marc Giannoni, Jean Boivin and Dalibor Stevanovic

9469: Tractable Latent State Filtering for Non-Linear DSGE Models Using a Second-Order Approximation

Robert Kollmann

9468: Conflict Resolution, Public Goods and Patent Thickets

Dietmar Harhoff, Georg von Graevenitz and Stefan Wagner

9467: Benchmarking Politicians

Antonio Estache and Renaud Foucart

9466: If Technology Has Arrived Everywhere, Why Has Income Diverged?

Diego Comin and Martí Mestieri

9465: Structured Debt Ratings: Evidence on Conflicts of Interest

Harald Hau and Matthias Efing

9464: Perturbation Methods for Markov-Switching DSGE Models

Tao Zha, Rubio-Ramírez, Juan Francisco, , and Andrew Foerster

9463: Opaque Selling: Static or Inter-Temporal Price Discrimination?

Pascal Courty and Wenyu Liu

9462: Product Launches and Buying Frenzies: A Dynamic Perspective

Pascal Courty and Javad Nasiry

9461: Manipulating Reliance on Intuition Reduces Risk and Ambiguity Aversion

Luigi Guiso, Tullio Jappelli and Jeffrey Butler

9460: Relational Knowledge Transfers

Luis Garicano and Luis Rayo

9459: Asset Prices with Heterogeneity in Preferences and Beliefs

Raman Uppal and Harjoat Bhamra

9458: Patents and Cumulative Innovation: Causal Evidence from the Courts

Mark Schankerman and Alberto Galasso

9457: How do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007

Viral Acharya, Anna Kovner and Gara Afonso

9456: Stock Return Serial Dependence and Out-of-Sample Portfolio Performance

Raman Uppal, Victor DeMiguel and Francisco J. Nogales

9455: Multitasking and Wages

Dennis Snower and Görlich, Dennis

9454: The role of automatic stabilizers in the U.S. business cycle

Alisdair McKay

9453: Radio and the Rise of the Nazis in Prewar Germany

Ekaterina Zhuravskaya, Ruben Enikolopov, Veronica Aoki Santarosa, Maria Petrova and Maja Adena

9452: Measuring Political Information Rents: Evidence from the European Agricultural Reform

Grüner, Hans Peter

9451: Strategic Search Diversion, Product Affiliation and Platform Competition

Bruno Jullien and Andrei Hagiu

9450: South-South migration and the labor market: Evidence from South Africa

Anna Maria Mayda, Giovanni Facchini and Mariapia Mendola

9449: Climate, ecosystem resilience and the slave trade

James Fenske and Namrata Kala

9448: The Gender Unemployment Gap

Stefania Albanesi and Aysegul Sahin

9447: A bargaining theory of trade invoicing and pricing

Linda Goldberg and Cédric Tille

9446: Emotions and Political Unrest

Guido Tabellini and Francesco Passarelli

9445: Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten

Kenneth Rogoff and Carmen Reinhart

9444: European migration, national origin and long-term economic development in the US

Rodríguez-Pose, Andrés and Viola Von Berlepsch

9443: This Is Only a Test? Long-Run Impacts of Prenatal Exposure to Radioactive Fallout

Kjell G Salvanes, Sandra Black and Paul Devereux

9442: The Pruned State-Space System for Non-Linear DSGE Models: Theory and Empirical Applications

Rubio-Ramírez, Juan Francisco, Fernández-Villaverde, Jesús and Martin M. Andreasen

9441: The Causal Impact of Common Native Language on International Trade: Evidence from a Spatial Regression Discontinuity Design

Peter Egger and Andrea Lassmann

9440: The Geography of Inter-State Resource Wars

Francesco Caselli, Massimo Morelli and Dominic Rohner

9439: Resistance to Technology Adoption: The Rise and Decline of Guilds

Stephen Parente and Klaus Desmet

9438: How Elastic are Preferences for Redistribution? Evidence from Randomized Survey Experiments

Stefanie Stantcheva, Emmanuel Saez, Ilyana Kuziemko and Michael I Norton

9437: The miracle of microfinance? Evidence from a randomized evaluation

Rachel Glennerster, Abhijit Banerjee, Esther Duflo and Cynthia Kinnan

9436: Time Variation in Macro-Financial Linkages

Massimiliano Marcellino, Sandra Eickmeier and Esteban Prieto

9435: Competitors, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry

Luis Cabral, Daniel Yi Xu and Zhu Wang

9434: Quantifying Productivity Gains from Foreign Investment

Sørensen, Bent E, Kalemli-Özcan, Sebnem, Vadym Volosovych, Christian Fons-Rosen and Carolina Villegas-Sanchez

9433: The Spatial Development of India

Klaus Desmet, Esteban Rossi-Hansberg, Ejaz Ghani and Stephen O'Connell

9432: The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks

Viral Acharya and Sascha Steffen

9431: Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights

Robert Engle, Viral Acharya and Diane Pierret

9430: Agglomeration, City Size and Crime

Yves Zenou and Gaigné, Carl

9429: Playing the Fertility Game at Work: An Equilibrium Model of Peer Effects

Helena Nielsen, Federico Ciliberto, Amalia Miller and Marianne Simonsen

9428: Trade openness and spatial inequality in emerging countries

Rodríguez-Pose, Andrés and Roberto Ezcurra

9427: Hot and Cold Seasons in the Housing Market

L. Rachel Ngai and Silvana Tenreyro

9426: European Cooperative R&D and Firm Performance: Evidence Based on Funding Differences in Key Actions

Philippe Gagnepain and Luis Aguiar Wicht

9425: Productivity Growth, Human Capital, and Technology Spillovers: Nonparametric Evidence for EU Regions

Peter Egger, Maximilian von Ehrlich and Harald Badinger

9424: Assessing International Efficiency

Jonathan Heathcote and Fabrizio Perri

9423: An Equilibrium Model of the African HIV/AIDS Epidemic

Jeremy Greenwood, Michele Tertilt, Philipp Kircher and Cezar Santos

9422: Banking and the Macroeconomy in China: A Banking Crisis Deferred?

A. Patrick Minford, Kent Matthews, David Meenagh, Vo Phuong Mai Le and Zhiguo Xiao

9421: Supply-chain trade: A portrait of global patterns and several testable hypotheses

Richard Baldwin and López González, Javier

9420: Does the market choose optimal health insurance coverage?

Jan Boone

9419: Bonus Culture: Competitive Pay, Screening, and Multitasking

Jean Tirole and Bénabou, Roland

9418: Inferring hawks and doves from voting records

Sylvester Eijffinger, Ronald Mahieu and Louis Raes

9417: Monopolistic Competition and Optimum Product Selection: Why and how heterogeneity matters

Gianmarco Ottaviano, Matteo Salto and Antonella Nocco

9416: The Economic Incentives of Cultural Transmission: Spatial Evidence from Naming Patterns across France

Yann Algan, Clément Malgouyres and Thierry Mayer

9415: Finance at Center Stage: Some Lessons of the Euro Crisis

Maurice Obstfeld

9414: Weathering the crisis and beyond: Perspectives for the Euro Area

Christoph Schmidt and Benjamin Weigert

9413: Which Firms are Left in the Periphery? - Spatial Sorting of Heterogeneous Firms with Scale Economies in Transportation

Rikard Forslid and Toshihiro Okubo

9412: Trade, Transboundary Pollution and Market Size

Rikard Forslid, Toshihiro Okubo and Mark Sanctuary

9411: A Monte Carlo procedure for checking identification in DSGE models

A. Patrick Minford, Michael Wickens and Vo Phuong Mai Le

9410: Migration and Wage Effects of Taxing Top Earners: Evidence from the Foreigners' Tax Scheme in Denmark

Emmanuel Saez, Henrik Kleven, Camille Landais and Esben Schultz

9409: Why is hedge fund activism procyclical?

Mike Burkart and Amil Dasgupta

9408: Subjective and Objective Indicators of Racial Progress

Justin Wolfers and Betsey Stevenson

9407: Bond Market Clienteles, the Yield Curve, and the Optimal Maturity Structure of Government Debt

Dimitri Vayanos, Stéphane Guibaud and Yves Nosbusch

9406: Consumption Growth, the Interest Rate, and Financial Literacy

Tullio Jappelli and Mario Padula

9405: Firm Heterogeneity and Aggregate Welfare

Stephen Redding and Marc Melitz

9404: Political Credit Cycles: The Case of the Euro Zone

Luis Garicano, Tano Santos and Fernández-Villaverde, Jesús

9403: The Market for OTC Derivatives

Andrew Atkeson, Andrea Eisfeldt and Pierre-Olivier Weill

9402: The Macroeconomics of Modigliani-Miller

Hans Gersbach, Hans Haller and Müller, Jürg

9401: Do large departments make academics more productive? Agglomeration and peer effects in research

Pierre-Philippe Combes and Clement Bosquet

9400: How Much do Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data

David Weinstein and Mary Amiti

9399: Life Expectancy, Schooling, and Lifetime Labor Supply: Theory and Evidence Revisited

Uwe Sunde and Matteo Cervellati

9398: Trade Theory with Numbers: Quantifying the Consequences of Globalization

Rodríguez-Clare, Andres and Arnaud Costinot

9397: Screening-Based Competition

Thomas Gehrig and ,

9396: Investments in physical capital, relationship-specificity, and the property rights approach

Patrick Schmitz

9395: Rational Inattention and Organizational Focus

Wouter Dessein, Tano Santos and ,

9394: Firewood Collections and Economic Growth in Rural Nepal 1995-2010: Evidence from a Household Panel

Dilip Mookherjee, Jean-Marie Baland and François Libois

9393: Roads and Trade: Evidence from the US

Gilles Duranton, Matthew Turner and Peter Morrow

9392: What causes banking crises? An empirical investigation for the world economy

A. Patrick Minford, David Meenagh, Vo Phuong Mai Le and Zhirong Ou

9391: What's Holding Back EU Exports to China?

Simon Evenett, Martin Wermelinger and Johannes Fritz

9390: Demographic Dividends Revisited

Jeffrey G. Williamson

9389: Search and Work in Optimal Welfare Programs

Giovanni Violante, Nicola Pavoni and Ofer Setty

9388: Identification and Inference Using Event Studies

Jonathan Wright and Gürkaynak, Refet

9387: The Trade Impact of the Zollverein

Wolfgang Keller and Carol Shiue

9386: Sectoral Technology and Structural Transformation

Berthold Herrendorf, Akos Valentinyi and Christopher Herrington

9385: Selling to a cartel of retailers: a model of hub-and-spoke collusion

Nicolas Sahuguet and Alexis Walckiers

9384: Deception detection and the role of self-selection

Kai Konrad, Salmai Qari and Tim Lohse

9383: Spending-based austerity measures and their effects on output and unemployment

Evi Pappa, Dimitrios Bermperoglu and Eugenia Vella

9382: Do Institutions and Culture Matter for Business Cycles?

Fabio Canova and Sumru Altug

9381: Choosing the variables to estimate singular DSGE models

Fabio Canova, Filippo Ferroni and Christian Matthes

9380: Panel Vector Autoregressive Models: A Survey

Fabio Canova and Matteo Ciccarelli