CEPR - Discussion papers

December 2017

• DP12551 - Welfare Effects of Housing Transaction Taxes
  Niku Määttänen, Marko Terviö
• DP12550 - Childcare and Commitment within Households
  Paula Gobbi
• DP12549 - On the Measurement of Upstreamness and Downstreamness in Global Value Chains
  Pol Antràs, Davin Chor
• DP12548 - Effects of government spending on employment: Evidence from winners and runners-up in procurement auctions
  Klaus Gugler, Michael Weichselbaumer, Christine Zulehner
• DP12547 - Buyer Group and Buyer Power When Sellers Compete
  Doh-Shin Jeon, Domenico Menicucci
• DP12546 - On Second Thoughts, Selective Memory, and Resulting Behavioral Biases
  Philippe Jehiel, Jakub Steiner
• DP12545 - Structural Transformation, Marketization, and Household Production around the World
  Benjamin Bridgman, Georg Duernecker, Berthold Herrendorf
• DP12544 - Who Becomes an Inventor in America? The Importance of Exposure to Innovation
  Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova, John Van Reenen
• DP12543 - Clustering, Growth, and Inequality in China
  Di Guo, Kun Jiang, Cheng-Gang Xu, Xiyi Yang
• DP12542 - Meetings and Mechanisms
  Xiaoming Cai, Pieter A. Gautier, Ronald Wolthoff
• DP12541 - The Combination of Monetary and Fiscal Policy Shocks: A TVP-FAVAR Approach
  Francesco Molteni, Evi Pappa
• DP12540 - Reconciliating Relational Contracting and Hold-up: A Model of Repeated Negotiations
  Susanne Goldlücke, Sebastian Kranz
• DP12539 - Do Lower Minimum Wages for Young Workers Raise their Employment? Evidence from a Danish Discontinuity
  Claus T. Kreiner, Daniel Reck, Peer Ebbesen Skov
• DP12538 - Goals and Gaps: Educational Careers of Immigrant Children
  Michela Carlana, Eliana La Ferrara, Paolo Pinotti
• DP12537 - The Effectiveness of Hiring Credits
  Pierre Cahuc, Stéphane Carcillo, Thomas Le Barbanchon
• DP12536 - Declining Competition and Investment in the U.S.
  German Gutierrez, Thomas Philippon
• DP12535 - Credit controls as an escape from the trilemma. The Bretton Woods experience.
  Eric Monnet
• DP12534 - The Macroeconomic Effects of Trade Tariffs: Revisiting the Lerner Symmetry Result
  Jesper Lindé, Andrea Pescatori
• DP12533 - Should We Use Linearized Models To Calculate Fiscal Multipliers?
  Jesper Lindé, Mathias Trabandt
• DP12532 - Structural Interpretation of Vector Autoregressions with Incomplete Identification: Revisiting the Role of Oil Supply and Demand Shocks
  Christiane Baumeister, James Hamilton
• DP12531 - How Far Can Economic Incentives Explain the French Fertility and Education Transition?
  David de la Croix, Faustine Perrin
• DP12530 - Weak States: Causes and Consequences of the Sicilian Mafia
  Daron Acemoglu, Giuseppe De Feo, Giacomo De Luca
• DP12529 - Can Audits Backfire? Evidence from Public Procurement in Chile
  Maria Paula Gerardino, Stephan Litschig, Dina Pomeranz
• DP12528 - Sticky Expectations and the Profitability Anomaly
  Jean-Philippe Bouchaud, Philipp Krueger, Augustin Landier, David Thesmar
• DP12527 - New Experimental Evidence on Expectations Formation
  Augustin Landier, Yueran Ma, David Thesmar
• DP12526 - CAPM-Based Company (Mis)valuations
  Olivier Dessaint, Jacques Olivier, Clemens Otto, David Thesmar
• DP12525 - Discriminatory Pricing of Over-The-Counter Derivatives
  Harald Hau, Peter Hoffmann, Sam Langfield, Yannick Timmer
• DP12524 - Horizontal and Vertical Polarization: Task-Specific Technological Change in a Multi-Sector Economy
  Sang Yoon (Tim) Lee, Yongseok Shin
• DP12523 - Man vs. Machine in Predicting Successful Entrepreneurs: Evidence from a Business Plan Competition in Nigeria
  David J. McKenzie, Dario Sansone
• DP12522 - The Rise and Fall of Consumption in the '00s. A Tangled Tale.
  Yuliya Demyanyk, Dmytro Hryshko, Maria Luengo-Prado, Bent E Sørensen
• DP12521 - Classical or Gravity? Which trade model best matches the UK facts?
  Patrick Minford, Yongdeng Xu
• DP12520 - Exploiting MIT Shocks in Heterogeneous-Agent Economies: The Impulse Response as a Numerical Derivative
  Timo Boppart, Per Krusell, Kurt Mitman
• DP12519 - Secular Trends and Technological Progress
  Robin Döttling, Enrico C Perotti
• DP12518 - Vertical Integration, Supplier Behavior, and Quality Upgrading among Exporters
  Christopher Hansman, Teachout Hansman, Jonas Hjort, Gianmarco León
• DP12517 - Welfare and Redistribution in Residential Electricity Markets with Solar Power
  Fabian Feger, Nicola Pavanini, Doina Radulescu
• DP12516 - Urbanization Patterns, Information Diffusion and Female Voting in Rural Paraguay
  Alberto Chong, Gianmarco León, Vivian Roza, Martin Valdivia, Gabriela Vega
• DP12515 - The Effect of School Starting Age on Special Needs Incidence and Child Development into Adolescence
  Simone Balestra, Beatrix Eugster, Helge Liebert
• DP12514 - Beetles: Biased Promotions and Persistence of False Belief
  George Akerlof, Pascal
• DP12513 - Fund Tradeoffs
  Luboš Pástor, Robert F. Stambaugh, Lucian Taylor
• DP12512 - The Contingent Effect of Alliance Design on Alliance Dynamics and Performance: An Experimental Study
  Albert Banal-Estanol, Tobias Kretschmer, Debrah Meloso, Jo Seldeslachts
• DP12511 - Duplicative research, mergers and innovation
  Vincenzo Denicolò, Mich
• DP12510 - When is foreign exchange intervention effective? Evidence from 33 countries
  Marcel Fratzscher, Oliver Gloede, Lukas Menkhoff, Lucio Sarno, Tobias Stoerh
• DP12509 - The Rate of Return on Everything, 1870-2015
  Óscar Jordá, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick, Alan M. Taylor
• DP12508 - Ordering History Through the Timeline
  Pietro Garibaldi, Eugenio Garibaldi
• DP12507 - Cost-Sharing Design Matters: A Comparison of the Rebate and Deductible in Healthcare
  Michiel Bijlsma, Jan Boone, Rudy Douven, Minke Remmerswaal
• DP12506 - Consumer Demand for Credit Card Services
  Alexei Alexandrov, Özlem Bedre-Defolie, Daniel Grodzicki
• DP12505 - Are international banks different? Evidence on bank performance and strategy
  Ata Can Bertay, Asli Demirguc-Kunt, Harry Huizinga
• DP12504 - Firms and Collective Reputation: the Volkswagen Emissions Scandal as a Case Study
  Rüdiger Bachmann, Gabriel Ehrlich, Dimitrije Ruzic
• DP12503 - Deadlock on the Board
  Jason Roderick Donaldson, Nadya Malenko, Giorgia Piacentino
• DP12502 - Market Power and the Laffer Curve
  Eugenio J Miravete, Katja Seim, Jeff Thurk
• DP12501 - International Credit Supply Shocks
  Ambrogio Cesa-Bianchi, Andrea Ferrero, Alessandro Rebucci
• DP12500 - Savings Banks and the Industrial Revolution in Prussia Supporting Regional Development with Public Financial Institutions
  Sibylle Lehmann-Hasemeyer, Fabian Wahl
• DP12499 - 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, Frederic Vermeulen
• DP12498 - Dynamic Vertical Foreclosure
  Chiara Fumagalli, Massimo Motta
• DP12497 - Redistributive Consequences of Abolishing Uniform Contribution Policies in Pension Funds
  Damiaan Chen, Sweder van Wijnbergen
• DP12496 - The Social Origins of Inventors
  Philippe Aghion, Ufuk Akcigit, Ari Hyytinen, Otto Toivanen
• DP12495 - Structural Change and the Supply of Agricultural Workers
  Tommaso Porzio, Gabriella Santangelo
• DP12494 - Fiscal Policy with an Informal Sector
  Harris Dellas, Dimitris Malliaropoulos, Dimitris Papageorgiou, Evangelia Vourvachaki
• DP12493 - Prize allocation and incentives in team contests
  Benoît SY Crutzen, Sabine Flamand, Nicolas Sahuguet
• DP12492 - On the Optimal Majority Rule
  Olivier Compte, Philippe Jehiel
• DP12491 - Do the rich pay their taxes early?
  Andreas M Fischer, Lucca Zachmann
• DP12490 - The behavior of the money multiplier during and after the subprime crisis: Implications for the transmission mechanism of monetary policy
  Alex Cukierman
• DP12489 - International evidence on professional interest rates forecasts: The impact of forecasting ability
  Alex Cukierman, Thomas Lustenberger
• DP12488 - Rising Stars
  Erich Battistin, Marco Ovidi
• DP12487 - Grandmothers' Labor Supply
  Wolfgang Frimmel, Martin Halla, Bernhard Schmidpeter, Rudolf Winter-Ebmer
• DP12486 - The Price Effects of Liquidity Shocks: A Study of SEC's Tick-Size Experiment
  Rui Albuquerque, Shiy
• DP12485 - Network Structure and Consolidation in the U.S. Airline Industry, 1990-2015
  Federico Ciliberto, Emily Cook, Jonathan Williams
• DP12484 - How well targeted are soda taxes?
  Pierre Dubois, Rachel
• DP12483 - On Monotone Strategy Equilibria in Simultaneous Auctions for Complementary Goods
  Matthew Gentry, Tatiana Komarova, Pasquale Schiraldi, Wiroy Shin
• DP12482 - On the Value of Persuasion by Experts
  Ricardo Alonso, Odilon Câmara
• DP12481 - Philippine Inequality across the Twentieth Century: Slim Evidence but Fat Questions
  Jeffrey G Williamson
• DP12480 - The Value of Online Scarcity Signals
  Pascal Courty, Sinan Ozel
• DP12479 - Failure of the Becker-Degroot-Marschak Mechanism in Inexperienced Subjects: New Tests of the Game Form Misconception Hypothesis
  Charlie Bull, Pascal Courty, Maurice Doyon, Daniel Rondeau
• DP12478 - A Pure Hedonic Theory of Utility and Status: Unhappy but Efficient Invidious Comparisons
  Pascal Courty, Merwan Engineer
• DP12477 - 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, Frode Steen
• DP12476 - House Price Beliefs And Mortgage Leverage Choice
  Michael Bailey, Eduardo Dávila, Theresa Kuchler, Johannes Ströbel
• DP12475 - Hierarchical Bank Supervision
  Rafael Repullo

November 2017  

• DP 12474 - Heterogeneous Effects of Performance Pay with Market Competition: Evidence from a Randomized Field Experiment
  Guidot Friebel, Matthias Heinz, Pooyan Khashabi, Tobias Kretschmer, Nick Zubanov
• DP12473 - The revenge of the places that don't matter (and what to do about it)
  Andrés Rodríguez-Pose
• DP12472 - Relationship Trading in OTC Markets
  Terrence Hendershott, Dan Li, Dmitry Livdan, Norman Schürhoff
• DP12471 - Tax Simplicity and Heterogeneous Learning
  Philippe Aghion, Ufuk Akcigit, Matthieu Lequien, Stefanie Stantcheva
• DP12471 - Tax Simplicity and Heterogeneous Learning
  Philippe Aghion, Ufuk Akcigit, Matthieu Lequien, Stefanie Stantcheva
• DP12470 - Identification of Counterfactuals in Dynamic Discrete Choice Models
  Myrto Kalouptsidi, Paul Scott, Eduardo Souza-Rodrigues
• DP12469 - Tax Revenues, Development, and the Fiscal Cost of Trade Liberalization, 1792-2006
  Julia Cagé, Lucie Gadenne
• DP12468 - The Agnostic's Response to Climate Deniers: Price Carbon!
  Armon Rezai, Frederick van der Ploeg
• DP12467 - Structural Change within the Service Sector and the Future of Baumol's Disease
  Georg Duernecker, Berthold Herrendorf, Akos Valentinyi
• DP12466 - Religious Tolerance as Engine of Innovation
  Francesco Cinnirella, Jochen Streb
• DP12465 - Regulatory Reform: A Scorecard
  Stephen G Cecchetti, Kermit Schoenholtz
• DP12464 - Socioeconomic Status and Macroeconomic Expectations
  Sreyoshi Das, Camelia Kuhnen, Stefan Nagel
• DP12463 - Shrinking the Cross Section
  Serhiy Kozak, Stefan Nagel, Shrihari Santosh
• DP12462 - Trading in style: Retail investors vs. institutions
  Christian C Wolff
• DP12461 - Macroeconomic Implications of Financial Imperfections: A Survey
  Stijn Claessens, Ayhan Kose
• DP12460 - Asset Prices and Macroeconomic Outcomes: A Survey
  Stijn Claessens, Ayhan Kose
• DP12459 - Household inequality and the consumption response to aggregate real shocks
  Gene Amromin, Mariacristina De Nardi, Karl Schulze
• DP12458 - Structural Change with Long-run Income and Price Effects
  Diego Comin, Danial Lashkari, Martí Mestieri
• DP12457 - The Long-run Effects of Agricultural Productivity on Conflict, 1400-1900
  Murat Iyigun, Nathan Nunn, Nancy Qian
• DP12456 - Contests with Insurance
  Aner Sela
• DP12455 - Costly Concessions: An Empirical Framework for Matching with Imperfectly Transferable Utility
  Alfred Galichon, Scott Duke Kominers, Simon Weber
• DP12454 - The Economic Consequences of the Brexit Vote
  Benjamin Born, Gernot Müller, Moritz Schularick, Petr Sedlacek
• DP12453 - The making of a national currency. Spatial transaction costs and money market integration in Spain (1825-1874)
  Nektarios Aslanidis, Alfonso Herranz-Loncán, Pilar Nogues-Marco
• DP12452 - Platform Competition: Who Benefits from Multihoming?
  Paul Belleflamme, Martin Peitz
• DP12451 - The Human Capital Stock: A Generalized Approach. Comment
  Francesco Caselli, Antonio Ciccone
• DP12450 - Regulating False Disclosure
  Maarten Janssen, Santanu Roy
• DP12449 - Innovation, Reallocation, and Growth
  Daron Acemoglu, Ufuk Akcigit, Harun Alp, Nicholas Bloom, William R. Kerr
• DP12448 - Predictably Unequal? The Effects of Machine Learning on Credit Markets
  Andreas Fuster, Paul Goldsmith-Pinkham, Tarun Ramadorai, Ansgar Walther
• DP12447 - Productivity and Misallocation in General Equilibrium
  David Rezza Baqaee, Emmanuel Farhi
• DP12446 - Aggregating From Micro to Macro Patterns of Trade
  Stephen J. Redding, David E. Weinstein
• DP12445 - School Performance, Score Inflation and Economic Geography
  Erich Battistin, Lorenzo Neri
• DP12444 - The European Trust Crisis and the Rise of Populism
  Yann Algan, Sergei Guriev, Elias Papaioannou, Evgenia Passari
• DP12443 - Schumpeterian Banks: Credit Reallocation and Capital Structure
  Christian Keuschnigg, Michael Kogler
• DP12442 - Friedman's Presidential Address in the Evolution of Macroeconomic Thought
  N Gregory Mankiw, Ricardo Reis
• DP12441 - Inflexibility and Stock Returns
  Lifeng Gu, Dirk Hackbarth, Tim Johnson
• DP12440 - Winning Connections? Special Interests and the Sale of Failed Banks
  Deniz Igan, Thomas Lambert, Wolf Wagner, Quxian Zhang
• DP12439 - The Rise and Fall of Local Elections in China: Theory and Empirical Evidence on the Autocrat's Trade-off
  Monica Martinez-Bravo, Gerard Padró i Miquel, Nancy Qian, Yan Yao
• DP12438 - From Taxing to Subsidizing Farmers in China Post-1978
  Kym Anderson
• DP12437 - Highways, Market Access, and Spatial Sorting
  Stephan Fretz, Raphaël Parchet, Frédéric Robert-Nicoud
• DP12436 - Firm-level political risk: Measurement and effects
  Tarek Hassan, Stephan Hollander, Ahmed Tahoun, Laurence van Lent
• DP12435 - Segmentation versus Agglomeration: Competition between Platforms with Competitive Sellers
  Heiko Karle, Martin Peitz, Markus Reisinger
• DP12434 - Noise Traders Incarnate: Describing a Realistic Noise Trading Process
  Joël Peress, Daniel Schmidt
• DP12433 - Firm R&D and Financial Analysis: How Do They Interact?
  Jim Goldman, Joël Peress
• DP12432 - Urban Interactions
  Jun Sung Kim, Eleonora Patacchini, Pierre M Picard, Yves Zenou
• DP12431 - Missing Growth from Creative Destruction
  Philippe Aghion, Antonin Bergeaud, Timo Boppart, Peter J. Klenow, Huiyu Li
• DP12430 - Can Credit Rating Agencies Affect Election Outcomes?
  Igor Cunha, Miguel Ferreira, Rui C Silva
• DP12429 - Measuring Indirect Effects of Unfair Employer Behavior on Worker Productivity - A Field Experiment
  Matthias Heinz, Sabrina Jeworrek, Vanessa Mertins, Heiner Schumacher, Matthias Sutter
• DP12428 - The Regulation of Public Service Broadcasters: Should there be more advertising on television?
  Gregory S. Crawford, Lachlan Deer, Jeremy Smith, Paul Sturgeon
• DP12427 - Some doubts about the economic analysis of the flow of silver to China in 1550-1820
  Jacques Melitz
• DP12426 - Where Do People Get Their News?
  Patrick Kennedy, Andrea Prat
• DP12425 - The Gold Pool (1961-1968) and the fall of the Bretton Woods system. Lessons for central bank cooperation.
  Michael D Bordo, Eric Monnet, Alain Naef
• DP12424 - Credit Market Spillovers: Evidence from a Syndicated Loan Market Network
  Abhimanyu Gupta, Sotirios Kokas, Alexander Michaelides
• DP12423 - Shock Propagation and Banking Structure
  Mariassunta Giannetti, Farzad Saidi
• DP12422 - Risk Management and Regulation
  Tobias Adrian
• DP12421 - A Scientific Approach to Entrepreneurial Decision-Making: Evidence from a Randomized Control Trial
  Arnaldo Camuffo, Alessandro Cordova, Alfonso Gambardella
• DP12420 - Are Important Innovations Rewarded? Evidence from Pharmaceutical Markets
  Margaret K Kyle
• DP12419 - Strategic Interaction Among Governments in the Provision of a Global Public Good
  Margaret K Kyle, David Ridley, Su Zhang

October 2017

• DP12418 - CoCo Issuance and Bank Fragility
  Stefan Avdjiev, Bilyana Bogdanova, Patrick Bolton, Wei Jiang, Anastasia Kartasheva
• DP12417 - A Portfolio Perspective on the Multitude of Firm Characteristics
  Victor DeMiguel, Alberto Martin-Utrera, Francisco J. Nogales, Raman Uppal
• DP12416 - Financial Innovation and Asset Prices
  Adrian Buss, Raman Uppal
• DP12415 - Do Individual Behavioral Biases Affect Financial Markets and the Macroeconomy?
  Harjoat Singh Bhamra, Raman Uppal
• DP12414 - Does Household Finance Matter? Small Financial Errors with Large Social Costs
  Harjoat Singh Bhamra, Raman Uppal
• DP12413 - Public goods, role models and "sucker aversion": the audience matters
  Giuseppe Attanasi, Roberta Dessí, Frederic Moisan, Donald Robertson
• DP12412 - The WTO's Next Work Programme--As if the Global Economic Crisis Really Mattered
  Simon J Evenett, Johannes Fritz
• DP12411 - From Soviets to Oligarchs: Inequality and Property in Russia 1905-2016
  Filip Novokmet, Thomas Piketty, Gabriel Zucman
• DP12410 - Capital Accumulation, Private Property and Rising Inequality in China, 1978-2015
  Thomas Piketty, Li Yang, Gabriel Zucman
• DP12409 - Indian income inequality, 1922-2014: From British Raj to Billionaire Raj ?
  Lucas Chancel, Thomas Piketty
• DP12408 - Trade, Merchants and Lost Cities of the Bronze Age
  Gojko Barjamovic, Thomas Chaney, Kerem Cosar, Ali Hortacsu
• DP12407 - A Model of Focusing in Political Choice
  Salvatore Nunnari, Jan Zapal
• DP12406 - Frontier Culture: The Roots and Persistence of Rugged Individualism in the United States
  Samuel Bazzi, Martin Fiszbein, Mesay Gebresilasse
• DP12405 - Measuring inequality in the Middle East 1990-2016: The World's Most Unequal Region?
  Facundo Alvaredo, Lydia Assouad, Thomas Piketty
• DP12404 - Generalized Pareto Curves: Theory and Applications
  Thomas Blanchet, Juliette Fournier, Thomas Piketty
• DP12403 - The Selection of High-Skilled Emigrants
  Nicolai Netz, Matthias Parey, Jens Ruhose, Fabian Waldinger
• DP12402 - Studying Consumption Patterns using Registry Data: Lessons From Swedish Administrative Data
  Jonas Kolsrud, Camille Landais, Johannes Spinnewijn
• DP12401 - Small Firm Death in Developing Countries
  David J. McKenzie, Anna Luisa Paffhausen
• DP12400 - Ethnic Diversity and Growth: Revisiting the Evidence
  Jose G Montalvo, Marta Reynal-Querol
• DP12399 - ECB Policies Involving Government Bond Purchases: Impacts and Channels
  Arvind Krishnamurthy, Stefan Nagel, Annette Vissing-Jorgensen
• DP12398 - The Survival and Demise of the State: A Dynamic Theory of Secessions
  Joan Esteban, Sabine Flamand, Massimo Morelli, Dominic Rohner
• DP12397 - Silver, Murder, and Institutions: Did the "Curse of Resources" impact on Homicide Rates? Global evidence since 1890
  Jessica Baier, Jörg Baten
• DP12396 - Until taxes do us part: tax penalties or bonuses and the marriage decision
  Francesca Barigozzi, Helmuth Cremer, Kerstin Roeder
• DP12395 - The Private Production of Safe Assets
  Marcin Kacperczyk, Christophe Perignon, Guillaume Vuillemey
• DP12394 - Financial Fragility and the Keynesian Multiplier
  Christiaan van der Kwaak, Sweder van Wijnbergen
• DP12393 - On the Allocation of Time - A Quantitative Analysis of the Roles of Taxes and Productivities
  Georg Duernecker, Berthold Herrendorf
• DP12392 - Coordination on Networks
  Matthew Leister, Yves Zenou, Junjie Zhou
• DP12391 - Payroll Taxes, Firm Behavior, and Rent Sharing: Evidence from a Young Workers' Tax Cut in Sweden
  Emmanuel Saez, Benjamin Schoefer, David Seim
• DP12390 - Marriage-related policies in an estimated life-cycle model of households' labor supply and savings for two cohorts
  Margherita Borella, Mariacristina De Nardi, Fang Yang
• DP12389 - Higher Education Funding Reforms: A Comprehensive Analysis of Educational and Labor Market Outcomes in England
  Ghazala Azmat, Stefania Simion
• DP12388 - Was Domar Right? Serfdom and Factor Endowments in Bohemia
  Alex Klein, Sheilagh C. Ogilvie
• DP12387 - Engel's Law in the Global Economy: Demand-induced Patterns of Structural Change, Innovation, and Trade
  Kiminori Matsuyama
• DP12386 - The Lifetime Costs of Bad Health
  Mariacristina De Nardi, Svetlana Pashchenko, Ponpoje Porapapakkarm
• DP12385 - Procurement with Unforeseen Contingencies
  Fabian Herweg, Klaus M. Schmidt
• DP12384 - The Welfare and Distributional Effects of Fiscal Volatility: a Quantitative Evaluation
  Rüdiger Bachmann, Jinhui Bai, Minjoon Lee, Fudong Zhang
• DP12383 - Frontier Knowledge and Scientific Production: Evidence from the Collapse of International Science
  Alessandro Iaria, Carlo Schwarz, Fabian Waldinger
• DP12382 - Can Power-sharing Foster Peace? Evidence From Northern Ireland
  Hannes Felix Mueller, Dominic Rohner
• DP12381 - The Effects of Mandatory Disclosure of Supermarket Prices
  Itai Ater, Oren Rigbi
• DP12380 - Climate Risk, Cooperation, and the Co-Evolution of Culture and Institutions
  Johannes Buggle, Ruben Durante
• DP12379 - Neonatal Health of Parents and Cognitive Development of Children
  Claus T. Kreiner, Hans Henrik Sievertsen
• DP12378 - Ethnic Geography: Measurement and Evidence
  Roland Hodler, Michele Valsecchi, Alberto Vesperoni
• DP12377 - Unity in Diversity? Ethnicity, Migration, and Nation Building in Indonesia
  Samuel Bazzi, Arya Gaduh, Alexander Rothenberg, Maisy Wong
• DP12376 - Is The Market Pronatalist? Inequality, Differential Fertility, and Growth Revisited
  Michael Bar, Moshe Hazan, Oksana Leukhina, David Weiss, Hosny Zoabi
• DP12375 - Technology, Market Structure and the Gains from Trade
  Giammario Impullitti, Omar Licandro, Pontus Rendahl
• DP12374 - Ethical Voting in Multicandidate Elections
  Laurent Bouton, Benjam
• DP12373 - Shadow Banking and the Four Pillars of Traditional Financial Intermediation
  Emmanuel Farhi, Jean Tirole
• DP12372 - Activism, Strategic Trading, and Liquidity
  Kerry E. Back, Pierre Collin-Dufresne, Vyacheslav Fos, Tao Li, Alexander P. Ljungqvist
• DP12371 - Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe's Monetary Union
  Giancarlo Corsetti, Luca Dedola, Marek Jarocinski, Bartosz Adam Mackowiak, Sebastian Schmidt
• DP12370 - Brexit - balancing trade and mobility?
  Rikard Forslid, Sten Nyberg
• DP12369 - Stagnant productivity and low unemployment: stuck in a Keynesian equilibrium
  Wendy Carlin, David Soskice
• DP12368 - Optimal Tournaments
  Mikhail Drugov, Dmitry Ryvkin
• DP12367 - On the Dilution of Market Power
  Sergey Kokovin, Mathieu Parenti, Jacques-François Thisse, Philip Ushchev
• DP12366 - Advertising Spending and Media Bias: Evidence from News Coverage of Car Safety Recalls
  Graham Beattie, Ruben Durante, Brian Knight, Ananya Sen
• DP12365 - Creativity over Time and Space
  Michel Serafinelli, Guido Tabellini
• DP12364 - Risk-based Selection in Unemployment Insurance: Evidence and Implications
  Camille Landais, Arash Nekoei, Peter Nilsson, David Seim, Johannes Spinnewijn
• DP12363 - The two faces of interbank correlation
  Klaus Schaeck, Consuelo Silva Buston, Wolf Wagner
• DP12362 - Asset Price Bubbles and Systemic Risk
  Markus K Brunnermeier, Simon Rother, Isabel Schnabel
• DP12361 - Busy Directors: Strategic Interaction and Monitoring Synergies
  Alexander P. Ljungqvist, Konrad Raff
• DP12360 - Costly Interpretation of Asset Prices
  Xavier Vives, Liyan Yang
• DP12359 - Contingent Convertibles: Can the Market handle them?
  Gera Kiewiet, Iman Paul Dieter van Lelyveld, Sweder van Wijnbergen
• DP12358 - THE ORIGINS OF THE ITALIAN REGIONAL DIVIDE: EVIDENCE FROM REAL WAGES, 1861-1913
  Giovanni Federico, Alessandro Nuvolari, Michelangelo Vasta
• DP12357 - Modeling Fluctuations in the Global Demand for Commodities
  Lutz Kilian, Xiaoqing Zhou
• DP12356 - Long-run Money Demand in Switzerland
  Stefan Gerlach
• DP12355 - Profit Sharing and Incentives
  Emre Ozdenoren, Oleg Rubanov
• DP12354 - Willpower and Compromise Effect
  Yusufcan Masatlioglu, Daisuke Nakajima, Emre Ozdenoren
• DP12353 - Transparency is overrated: communicating in a coordination game with private information
  Antonio Cabrales, Michalis Drouvelis, Zeynep Gurguc, Indrajit Ray
• DP12352 - Geographical Advantage: Home Market Effect in a Multi-Region World
  Kiminori Matsuyama
• DP12351 - Tall Buildings and Land Values: Height and Construction Cost Elasticities in Chicago, 1870-2010
  Gabriel Ahlfeldt, Daniel McMillen
• DP12350 - Can financial incentives reduce the baby gap? Evidence from a reform in maternity leave benefits
  Anna Raute
• DP12349 - The Sovereign Money Initiative in Switzerland: An Economic Assessment
  Philippe Bacchetta
• DP12348 - The Third Place Game
  Aner Sela
• DP12347 - Does population diversity matter for economic development in the very long-term? Historic migration, diversity and county wealth in the US
  Andrés Rodríguez-Pose, Viola von Berlepsch
• DP12346 - Happiness Convergence in Transition Countries
  Sergei Guriev, Nikita Melnikov
• DP12345 - The Externalities of Corruption: Evidence from Entrepreneurial Activity in China
  Mariassunta Giannetti, Guanmin Liao, Jiaxing You, Xiaoyun Yu
• DP12344 - Risk as Impediment to Privatization? The Role of Collective Fields in Extended Agricultural Households
  Matthieu Delpierre, Catherine Guirkinger, Jean-Philippe Platteau

September 2017

• DP12343 - Worker Churn and Employment Growth at the Establishment Level
  Rüdiger Bachmann, Christian Bayer, Christian Merkl, Stefan Seth, Heiko Stüber, Felix Wellschmied
• DP12342 - The Productivity Slowdown and the Declining Labor Share: A Neoclassical Exploration
  Gene Grossman, Elhanan Helpman, Ezra Oberfield, Thomas Sampson
• DP12341 - Artificial Pitches and Unfair Home Advantage in Professional Football
  Jan C. van Ours
• DP12340 -The real effects of relationship lending
  Ryan Banerjee, Leonardo Gambacorta, Enrico Sette
• DP12339 - Uncertainty Through the Lenses of A Mixed-Frequency Bayesian Panel Markov Switching Model
  Roberto Casarin, Claudia Foroni, Massimiliano Marcellino, Francesco Ravazzolo
• DP12338 - Lift and Shift: The Effect of Fundraising Interventions in Charity Space and Time
  Kimberley Scharf, Sarah Smith, Mark Wilhelm
• DP12337 - International liquidity
  Philipp Hartmann
• DP12336 - Structural Reforms and Monetary Policies in a Behavioural Macroeconomic Model
  Paul De Grauwe, Yuemei Ji
• DP12335 - Tax shocks with high and low uncertainty
  Fabio Bertolotti, Massimiliano Marcellino
• DP12334 - Market Reforms at the Zero Lower Bound
  Matteo Cacciatore, Romain Duval, Giuseppe Fiori, Fabio Ghironi
• DP12333 - A Large-Scale Field Experiment to Evaluate the Effectiveness of Paid Search Advertising
  Lorenzo Coviello, Uri Gneezy, Lorenz Götte
• DP12332 - Youth Enfranchisement, Political Responsiveness, and Education Expenditure: Evidence from the U.S.
  Graziella Bertocchi, Arcangelo Dimico, Francesco Lancia, Alessia Russo
• DP12331 - The Impact of Trade on Inequality in Developing Countries
  Nina Pavcnik
• DP12330 - The returns to entrepreneurship: Evidence from matched person-firm data
  Arvid Raknerud, Mirjam van Praag
• DP12329 - Badge of Honor or Scarlet Letter? Unpacking Investors' Judgment of Entrepreneurs' Past Failure
  Gary Dushnitsky, Mirjam van Praag, Diego Zunino
• DP12328 - Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach
  Kory Kroft, Kavan Kucko, Etienne Lehmann, Johannes Schmieder
• DP12327 - Doomed to Disappear? The Surprising Return of Cash Across Time and Across Countries
  Clemens Jobst, Helmut Stix
• DP12326 - Word of Mouth Communication and Search
  Arthur Campbell, Matthew Leister, Yves Zenou
• DP12325 - Rising inequality and trends in leisure
  Timo Boppart, Liwa Rachel Ngai
• DP12324 - Big or small cities? On city size and economic growth
  Susanne A. Frick, Andrés Rodríguez-Pose
• DP12323 - Is Pollution Value-Maximizing? The DuPont Case
  Roy Shapira, Luigi Zingales
• DP12322 - Monopoly Without a Monopolist: An Economic Analysis of the Bitcoin Payment System
  Gur Huberman, Jacob Leshno, Ciamac Moalleni
• DP12321 - A Matter of Trust? The Bond Market Benefits of Corporate Social Capital during the Financial Crisis
  Hami Amiraslani, Karl Lins, Henri Servaes, Ane Tamayo
• DP12320 - Subjective Well-being and Partnership Dynamics; Are Same-sex Relationships Different?
  Shuai Chen, Jan C. van Ours
• DP12319 - Planning Ahead for Better Neighborhoods: Long Run Evidence from Tanzania
  Neeraj Baruah, Amanda Dahlstrand-Rudin, Guy Michaels, Dzhamilya Nigmatulina, Ferdinand Rauch, Tanner Regan
• DP12318 - Changes in CEO Stock Option Grants: A Look at the Numbers
  Vasiliki Athanasakou, Daniel Ferreira, Lisa Goh
• DP12317 - The Inner Workings of the Board: Evidence from Emerging Markets
  Ralph de Haas, Daniel Ferreira, Tom Kirchmaier
• DP12316 - Wage posting, nominal rigidity, and cyclical inefficiencies
  Axel Gottfries, Coen N Teulings
• DP12315 - Directed Search: A Guided Tour
  Veronica Guerrieri, Benoit Julien, Philipp Kircher, Randall Wright
• DP12314 - The Accident Externality from Trucking
  Ziyan Chu, Lucija Muehlenbachs, Stefan Staubli
• DP12313 - What Drives Pension Reform Measures in the OECD? Evidence based on a New Comprehensive Dataset and Theory
  Roel Beetsma, Ward E Romp, Ron van Maurik
• DP12312 - Are They All Like Bill, Mark, and Steve? The Education Premium for Entrepreneurs
  Claudio Michelacci, Fabiano Schivardi
• DP12311 - The local economic impacts of regeneration projects: Evidence from UK's Single Regeneration Budget
  Steve Gibbons, Henry G Overman, Matti Sarvimäki
• DP12310 - Fiscal Consolidations in a Low Inflation Environment:Pay cuts versus Lost Jobs
  Guilherme Almeida, Evi Pappa, Rana Sajedi, Eugenia Vella
• DP12309 - A Walk on the Wild Side: `Predatory' Journals and Information Asymmetries in Scientific Evaluations
  Manuel Bagues, Mauro Sylos-Labini, Natalia Zinovyeva
• DP12308 - Connections and Applicants' Self-Selection: Evidence from a Natural Randomized Experiment
  Manuel Bagues, Mauro Sylos-Labini, Natalia Zinovyeva
• DP12307 - Strategic Default in the International Coffee Market
  Arthur Blouin, Rocco Macchiavello
• DP12306 - German Robots - The Impact of Industrial Robots on Workers
  Wolfgang Dauth, Sebastian Findeisen, Jens Südekum, Nicole Woessner
• DP12305 - The Long-Term Consequences of Short-Term Incentives
  Alex Edmans, Vivian Fang, Allen Huang
• DP12304 - Managing the UK National Debt 1694-2017
  Martin Ellison, Andrew Scott
• DP12303 - Global Value Chains, Trade Shocks And Jobs: An Application to Brexit.
  William Connell, Wouter Simons, Hylke Vandenbussche
• DP12302 - Playing Favorites: How Firms Prevent the Revelation of Bad News
  Lauren Cohen, Dong Lou, Christopher Malloy
• DP12301 - Brexit: The Economics of International Disintegration
  Thomas Sampson
• DP12300 - Quantity Measurement and Balanced Growth in Multi-Sector Growth Models
  Georg Duernecker, Berthold Herrendorf, Akos Valentinyi
• DP12299 - Macro Needs Micro
  Fabio Ghironi
• DP12298 - Keynesian Economics without the Phillips Curve
  Roger E A Farmer
• DP12297 - Attention Manipulation and Information Overload
  Petra Persson
• DP12296 - The Effect of Superstar Firms on College Major Choice
  Darwin Choi, Dong Lou, Abhiroop Mukherjee
• DP12295 - Offsetting Disagreement and Security Prices
  Byoung-Hyoun Hwang, Dong Lou, Chengxi Yin
• DP12294 - Are Ideas Getting Harder to Find?
  Nicholas Bloom, Charles I Jones, John Van Reenen, Michael Webb
• DP12293 - Signaling to Experts
  Pablo Kurlat, Florian Scheuer
• DP12292 - Taxes and Market Hours -- the Role of Gender and Skill
  Robert Duval-Hernandez, Lei Fang, Liwa Rachel Ngai
• DP12291 -  Engineering Crises: Favoritism and Strategic Fiscal Indiscipline
  Gilles Saint-Paul, Davide Ticchi, Andrea Vindigni
• DP12290 - The Political Economy of International Finance Corporation Lending
  Axel Dreher, Katharina Richert
• DP12289 - Corporate Debt Maturity Profiles
  Jaewon Choi, Dirk Hackbarth, Josef Zechner
• DP12288 - Altruism and strategic giving in children and adolescents
  Isabelle Brocas, Juan D Carrillo, Niree Kodaverdian
• DP12287 - A Property Rights Approach to Temporary Work Visas
  Alessandra Casella, Adam Cox
• DP12286 - Two Great Trade Collapses: The Interwar Period & Great Recession Compared
  Kevin Hjortshøj O'Rourke
• DP12285 - Impact of Managerial Commitment on Risk Taking with Dynamic Fund Flows
  Ron Kaniel, stathis tompaidis, Ti Zhou
• DP12284 - Firm Volatility in Granual Networks
  Bernard Herskovic, Bryan Kelly, Hanno Lustig, Stijn van Nieuwerburgh
• DP12283 - Out-of-town Home Buyers and City Welfare
  Jack Favilukis, Stijn van Nieuwerburgh
• DP12282 - A Macroeconomic Model with Financially Constrained Producers and Intermediaries
  Vadim Elenev, Tim Landvoigt, Stijn van Nieuwerburgh
• DP12281 - Why Are REITS Currently So Expensive?
  Stijn van Nieuwerburgh
• DP12280 - Sequential Banking: Direct and Externality Effects on Delinquency
  Giacomo De Giorgi, Andres Drenik, Enrique Seira
• DP12279 - How Efficient is Dynamic Competition? The Case of Price as Investment
  David Besanko, Ulrich Doraszelski, Yaroslav Kryukov
• DP12278 - Industrial Development and Long-Run Prosperity
  Raphael Franck, Oded Galor
• DP12277 - Aid Effectiveness: Revisiting the Trade-off Between Needs and Governance
  François Bourguignon, Jean-Philippe Platteau
• DP12276 - Optimal income taxation with composition effects
  Laurence M. Jacquet, Etienne Lehmann
• DP12275 - Monetary Policy and Asset Valuation
  Francesco Bianchi, Martin Lettau, Sydney Ludvigson
• DP12274 - Performance-induced CEO turnover
  Dirk Jenter, Katharina A. Lewellen
• DP12273 - Measuring Productivity Dispersion: Lessons From Counting One-Hundred Million Ballots
  Ethan Ilzetzki, Saverio Simonelli
• DP12272 - A Central Bank's Optimal Balance Sheet Size?
  Charles A Goodhart
• DP12271 - Information Design under Falsification
  Eduardo Perez-Richet, Vasiliki Skreta
• DP12270 - Household Debt and Monetary Policy: Revealing the Cash-Flow Channel
  Martin Flodén, Matilda Kilström, Josef Sigurdsson, Roine Vestman
• DP12269 - Inefficient Short-Time Work
  Pierre Cahuc, Sandra Nevoux
• DP12268 - Network-Mediated Knowledge Spillovers: A Cross-Country Comparative Analysis of Information Security Innovations
  Lee Branstetter, Neil Gandal, Nadav Kunievsky
• DP12267 - Relational Contracts, Competition and Innovation: Theory and Evidence from German Car Manufacturers
  Giacomo Calzolari, Leonardo Felli, Johannes Koenen, Giancarlo Spagnolo, Konrad Stahl
• DP12266 - Police Patrols and Crime
  Jordi Blanes I Vidal, Giovanni Mastrobuoni
• DP12265 - The Mortgage Rate Conundrum
  Alejandro Justiniano, Giorgio E Primiceri, Andrea Tambalotti
• DP12264 - Buy As You Need: Nutrition and Food Storage Imperfections
  Jeremie Gross, Catherine Guirkinger, Jean-Philippe Platteau
• DP12263 - Innovation Adoption and Liquidity Constraints in the Presence of Grassroots Extension Agents: Evidence from the Peruvian Highlands
  Isabelle Bonjean, Jean-Philippe Platteau, Vincenzo Verardi

August 2017

• DP12262 - Tractable Likelihood-Based Estimation of Non-Linear DSGE Models
  Robert Kollmann
• DP12261 - Measuring Productivity and Absorptive Capacity Evolution in OECD Economies
  Stef De Visscher, Markus Eberhardt, Gerdie Everaert
• DP12260 - Whistleblower Rewards, False Reports, and Corporate Fraud
  Paolo Buccirossi, Giovanni Immordino, Giancarlo Spagnolo
• DP12259 - The Ostrich in Us: Selective Attention to Financial Accounts, Income, Spending, and Liquidity
  Arna Olafsson, Michaela Pagel
• DP12258 - Incomplete Contracts, Shared Ownership, and Investment Incentives
  Patrick W. Schmitz
• DP12257 - A Long-Run Perspective on the Spatial Concentration of Manufacturing Industries in the United States
  Nicholas Crafts, Alex Klein
• DP12256 - Economic Predictions with Big Data: The Illusion Of Sparsity
  Domenico Giannone, Michele Lenza, Giorgio E Primiceri
• DP12255 - Citizenship, Migration and Opportunity
  Ravi Kanbur
• DP12254 - Stress induces contextual blindness in lotteries and coordination games
  Isabelle Brocas, Juan D Carrillo, Ryan Kendall
• DP12253 - The Determinants of Strategic Thinking in Preschool Children
  Isabelle Brocas, Juan D Carrillo
• DP12252 - Sovereign Bond Prices, Haircuts and Maturity
  Tamon Asonuma, Dirk Niepelt, Romain Rancière
• DP12251 - Labor Clauses in Trade Agreements: worker protection or protectionism?
  Céline Carrère, Marcelo Olarreaga, Damian Raess
• DP12250 - Aid for Trade and International Transactions in Goods and Services
  Bernard Hoekman, Anirudh Shingal
• DP12249 - Leaning Against the Wind: The Role of Different Assumptions About the Costs
  Lars E O Svensson
• DP12248 - Market Liquidity after the Financial Crisis
  Tobias Adrian, Michael J Fleming, Or Shachar, Erik Vogt
• DP12247 - Liquidity Policies and Systemic Risk
  Tobias Adrian, Nina Boyarchenko
• DP12246 - Dealer Balance Sheets and Bond Liquidity Provision
  Tobias Adrian, Nina Boyarchenko, Or Shachar
• DP12245 - Intraday Market Making with Overnight Inventory Costs
  Tobias Adrian, Agostino Capponi, Erik Vogt, Hongzhong Zhang
• DP12244 - Return on trust is lower for immigrants
  Elena Cettolin, Sigrid Suetens
• DP12243 - The Cyclicality of International Public Sector Borrowing in Developing Countries: Does the Lender Matter?
  Arturo Galindo, Ugo Panizza
• DP12242 - Cognitive Bias in Insurance: Evidence from India
  Darwin Ugarte Ontiveros, Jean-Philippe Platteau
• DP12241 - Are Mutual Fund Managers Paid For Investment Skill?
  Marcus Ibert, Ron Kaniel, Stijn van Nieuwerburgh, Roine Vestman
• DP12240 - Dynamic Mechanism Design: An Introduction
  Dirk Bergemann, Juuso Välimäki
• DP12239 - Leverage and Deepening Business Cycle Skewness
  Henrik Jensen, Ivan Petrella, Søren Hove Ravn, Emiliano Santoro
• DP12238 - Should Robots Be Taxed?
  Joao Guerreiro, Sérgio Rebelo, Pedro Teles
• DP12237 - Firm Size and the Intensive Margin of Import Demand
  Joaquin Blaum, Claire Lelarge, Michael Peters
• DP12236 - Measuring the Spillovers of Venture Capital
  Monika Schnitzer, Martin Watzinger
• DP12235 - P2P Lending: Information Externalities, Social Networks and Loans' Substitution
  Ester Faia, Monica Paiella
• DP12234 - Optimal Management of Transfers: an Odd Paradox
  François Bourguignon, Jean-Philippe Platteau
• DP12233 - One Team, One Nation: Football, Ethnic Identity, and Conflict in Africa
  Emilio Depetris-Chauvín, Ruben Durante
• DP12232 - Moral Hazard: Experimental Evidence from Tenancy Contracts
  Konrad B. Burchardi, Selim Gulesci, Benedetta Lerva, Munshi Sulaiman
• DP12231 - The Puzzle, the Power, and the Dark Side: Forward Guidance Redux
  Florin Ovidiu Bilbiie
• DP12230 - Credit Growth and the Financial Crisis: A New Narrative
  Stefania Albanesi, Giacomo De Giorgi, Jaromir Nosal
• DP12229 - Choice of Majors: Are Women Really Different from Men?
  Adriana D. Kugler, Catherine Tinsley, Olga Ukhaneva
• DP12228 - Official Sector Lending Strategies during the Euro Area Crisis
  Giancarlo Corsetti, Aitor Erce, Timothy Uy
• DP12227 - The Real Effects of Improving Access to Capital Markets Financing: Evidence from European SMEs
  Alexander Eisele, Eric Nowak
• DP12226 - Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Results
  Lars E O Svensson
• DP12225 - Trading Out of Sight: An Analysis of Cross-Trading in Mutual Fund Families
  Alexander Eisele, Tamara Nefedova, Gianpaolo Parise, Kim Peijnenburg
• DP12224 - Heterogeneous Employment Effects of Job Search Programmes: A Machine Learning Approach
  Michael C. Knaus, Michael Lechner, Anthony Strittmatter
• DP12223 - The Determinants of Foreign Direct Investment in sub-Saharan Africa: What Role for Governance?
  Gilles Cols, Andrés Rodríguez-Pose
• DP12223 - The Determinants of Foreign Direct Investment in sub-Saharan Africa: What Role for Governance?
  Gilles Cols, Andrés Rodríguez-Pose
• DP12222 - Banks in Tax Havens: First Evidence based on Country-by-Country Reporting
  Vincent Bouvatier, Gunther Capelle-blancard, Anne-Laure Delatte
• DP12221 - The Rise of Market Power and the Macroeconomic Implications
  Jan De Loecker, Jan Eeckhout
• DP12220 - Facts, Alternative Facts, and Fact Checking in Times of Post-Truth Politics
  Oscar Barrera, Sergei Guriev, Emeric Henry, Ekaterina Zhuravskaya
• DP12219 - Is Industrial Production Still the Dominant Factor for the US Economy?
  Elena Andreou, Patrick Gagliardini, Eric Ghysels, Mirco Rubin
• DP12218 - Income and Wealth Inequality in America, 1949-2013
  Moritz Kuhn, Moritz Schularick, Ulrike Steins
• DP12217 - Monetary Policy in the Capitals of Capital
  Elena Gerko, Hélène Rey
• DP12216 - Shopping externalities and retail concentration: Evidence from Dutch shopping streets
  Hans R.A. Koster, Ilias Pasidis, Jos van Ommeren
• DP12215 - The Housing Boom and Bust: Model Meets Evidence
  Greg Kaplan, Kurt Mitman, Giovanni L. Violante
• DP12214 - Media See-saws: Winners and Losers in Platform Markets
  Simon P Anderson, Martin Peitz
• DP12213 - Goods and Factor Market Integration: A Quantitative Assessment of the EU Enlargement
  Lorenzo Caliendo, Luca David Opromolla, Fernando Parro, Alessandro Sforza
• DP12212 - Electoral Systems, Taxation and Immigration Policies: Which System Builds a Wall first?
  Massimo Morelli, Margherita Negri
• DP12211 - Fertile Ground for Conflict
  Nicolas Berman, Mathieu Couttenier, Raphael Soubeyran
• DP12210 - Beyond CES: Three Alternative Classes of Flexible Homothetic Demand Systems
  Kiminori Matsuyama, Philip Ushchev
• DP12209 - Firm Heterogeneity in Consumption Baskets: Evidence from Home and Store Scanner Data
  Benjamin Faber, Thibault Fally
• DP12208 - Self-worth versus net worth: Image motivation and the quantity-quality trade-off
  Michelle Brock
• DP12207 - The Political Economy of Transportation Investment
  Edward L Glaeser, Giacomo AM Ponzetto
• DP12206 - Fundamental Errors in the Voting Booth
  Edward L Glaeser, Giacomo AM Ponzetto
• DP12205 - Foreign Investment and Domestic Productivity: Identifying Knowledge Spillovers and Competition Effects
  Christian Fons-Rosen, Sebnem Kalemli-Ozcan, Bent E Sørensen, Carolina Villegas-Sanchez, Vadym Volosovych
• DP12204 - Institutional Design of Voluntary Sustainability Standards Systems: Evidence from a New Database
  Matteo Fiorini, Bernard Hoekman, Marion Jansen, Philip Schleifer, Olga Solleder, Regina Taimasova, Joseph Wozniak
• DP12203 - Services Trade Policy and Sustainable Development
  Matteo Fiorini, Bernard Hoekman
• DP12202 - Strategic Sample Selection
  Alfredo Di Tillio, Marco Ottaviani, Peter Norman Sorensen
• DP12201 - The Impact of Tobacco Control Policies on Smoking Initiation in Europe
  Ali Palali, Jan C. van Ours
• DP12200 - Bismarck's Health Insurance and the Mortality Decline
  Stefan Bauernschuster, Anastasia Driva, Erik Hornung
• DP12199 - Government Financing of R&D: A Mechanism Design Approach
  Saul Lach, Zvika Neeman, Mark Schankerman
• DP12198 - Media Competition, Information Provision and Political Participation: Evidence from French Local Newspapers and Elections, 1944-2014
  Julia Cagé
• DP12197 - Fixed on Flexible: Rethinking Exchange Rate Regimes after the Great Recession
  Giancarlo Corsetti, Keith Kuester, Gernot Müller
• DP12196 - A Cross-Country Database of Fiscal Space
  Ayhan Kose, Sergio Kurlat, Franziska Ohnsorge, Naotaka Sugawara
• DP12195 - Portfolio Liquidity and Diversification: Theory and Evidence
  Luboš Pástor, Robert F. Stambaugh, Lucian Taylor

July 2017

• DP12194 - Competition and Networks of Collaboration
  Nikita Roketskiy
• DP12193 - Why Secondary Towns Can Be Important for Poverty Reduction - A Migrant's Perspective
  Luc Christiaensen, Joachim De Weerdt, Bert Ingelaere, Ravi Kanbur
• DP12192 - Sex and the Mission: The Conflicting Effects of Early Christian Investments on the HIV Epidemic in sub-Saharan Africa
  Julia Cagé, Valeria Rueda
• DP12191 - More Giving or More Givers? The Effects of Tax Incentives on Charitable Donations in the UK
  Miguel Almunia, Ben Lockwood, Kimberley Scharf
• DP12190 - EQCHANGE: A World Database on Actual and Equilibrium Effective Exchange Rates
  Cecile Couharde, Anne-Laure Delatte, Carl Grekou, Valerie Mignon, Florian Morvillier
• DP12189 -Step away from the zero lower bound: small open economies in a world of secular stagnation
  Giancarlo Corsetti, Eleonora Mavroeidi, Gregory Thwaites, Martin Wolf
• DP12188 - When to Lean Against the Wind
  Björn Richter, Moritz Schularick, Paul Wachtel
• DP12187 - Political Distribution Risk and Aggregate Fluctuations
  Thorsten Drautzburg, Jesús Fernández-Villaverde, Pablo A. Guerron-Quintana
• DP12186 - Companies Should Maximize Shareholder Welfare Not Market Value
  Oliver Hart, Luigi Zingales
• DP12185 - Financial Repression in the European Sovereign Debt Crisis
  Bo Becker, Victoria Ivashina
• DP12184 - Are clusters resilient? Evidence from Canadian textile industries
  Kristian Behrens, Brahim Boualam, Julien Martin
• DP12183 - Gender: An Historical Perspective
  Paola Giuliano
• DP12182 - The Rise of New Corruption: British MPs during the Railway Mania of 1845
  Rui Esteves, Gabriel Geisler Mesevage
• DP12181 - The political economy of fiscal transparency and independent fiscal councils
  Roel Beetsma, Xavier Debrun, Randolph Sloof
• DP12180 - Downside Risk in the Chinese Stock Market - Has it Fundamentally Changed?
  Eric Ghysels, Hanwei Liu
• DP12179 - Automated Earnings Forecasts:- Beat Analysts or Combine and Conquer?
  Ryan Ball, Eric Ghysels
• DP12178 - Back to the Future: Backtesting Systemic Risk Measures during Historical BankRuns and the Great Depression
  Christian Brownlees, Ben Chabot, Eric Ghysels, Christopher Kurz
• DP12177 - Exporting and Organizational Change
  Lorenzo Caliendo, Ferdinando Monte, Esteban Rossi-Hansberg
• DP12176 - The Changing International linkages of Switzerland: An Overview
  Cédric Tille
• DP12174 - Asymmetric Information and the Property Rights Approach to the Theory of the Firm
  Patrick W. Schmitz
• DP12173 - Services Input Intensity and US Manufacturing Employment Responses to the China Shock
  Omar Bamieh, Matteo Fiorini, Bernard Hoekman, Adam Jakubik
• DP12172 - Changes in the Cost of Bank Equity and the Supply of Bank Credit
  Claire Célérier, Thomas Kick, Steven Ongena
• DP12171 - Financial Development and Monetary Policy: Loan Applications, Rates, and Real Effects
  Charles Abuka, Ronnie Alinda, Camelia Minoiu, José Luis Peydró, Andrea Presbitero
• DP12170 - Understanding Cultural Persistence and Change
  Paola Giuliano, Nathan Nunn
• DP12169 - The Interconnections Between Services and Goods Trade at the Firm-Level
  Andrea Ariu, Holger Breinlich, Gregory Corcos, Giordano Mion
• DP12168 - Asset encumbrance and bank risk: First evidence from public disclosures in Europe
  Albert Banal-Estanol, Enrique Benito, Dmitry Khametshin
• DP12167 - Employment growth following takeovers
  Karen Geurts, Johannes Van Biesebroeck
• DP12166 - Conformism, Social Norms and the Dynamics of Assimilation
  Gonzalo Olcina, Fabrizio Panebianco, Yves Zenou
• DP12165 - Infant Feeding and Cohort Health: Evidence from the London Foundling Hospital
  Vellore Arthi, Eric Schneider
• DP12164 - The Dire Effects of the Lack of Monetary and Fiscal Coordination
  Francesco Bianchi, Leonardo Melosi
• DP12163 - Job duration and history dependent unemployment insurance
  Torben M Andersen, Christian Ellermann-Aarslev
• DP12162 - The Exporter Wage Premium When Firms and Workers Are Heterogeneous
  Peter Egger, Hartmut Egger, Udo Kreickemeier, Christoph Moser
• DP12161 - Measuring the Market Size for Cannabis: A New Approach Using Forensic Economics
  Imran Rasul
• DP12160 - Optimal Trend Inflation
  Klaus Adam, Henning Weber
• DP12159 - European Banks Straddling Borders: Risky or Rewarding?
  Patty Duijm, Dirk Schoenmaker
• DP12158 - Towards a Political Theory of the Firm
  Luigi Zingales
• DP12157 - The Capital Structure of Nations
  Patrick Bolton, Haizhou Huang
• DP12156 - Specialization in Bank Lending: Evidence from Exporting Firms
  Daniel Paravisini, Schnabl Philipp, Veronica Rappoport
• DP12155 - Welfare Effects of R&D Support Policies
  Tuomas Takalo, Tanja Tanayama, Otto Toivanen
• DP12154 - Middleman Minorities and Ethnic Violence: Anti-Jewish Pogroms in the Russian Empire
  Irena Grosfeld, Seyhun Orcan Sakalli, Ekaterina Zhuravskaya
• DP12153 - Political Connections and the Informativeness of Insider Trades
  Alan D. Jagolinzer, David F. Larcker, Gaizka Ormazabal, Daniel Taylor
• DP12152 - Market-wide Effects of Off-Balance Sheet Disclosures:
  Marc Badia, Miguel Duro, Bjorn N. Jorgensen, Gaizka Ormazabal
• DP12151 - Capital Structure Under Collusion
  Daniel Ferrés, Gaizka Ormazabal, Paul Povel, Giorgio Sertsios
• DP12150 - The Geography of Consumption
  Sumit Agarwal, J Bradford Jensen, Ferdinando Monte
• DP12149 - Can Gender Quotas in Candidate Lists Empower Women? Evidence from a Regression Discontinuity Design
  Manuel Bagues, Pamela Campa
• DP12148 - Executive Compensation: A Survey of Theory and Evidence
  Alex Edmans, Xavier Gabaix, Dirk Jenter
• DP12147 - Why Do Boards Exist? Governance Design in the Absence of Corporate Law
  Mike Burkart, Salvatore Miglietta, Charlotte Ostergaard
• DP12146 - Measuring Social Connectedness
  Michael Bailey, Ruiqing Cao, Theresa Kuchler, Johannes Ströbel, Arlene Wong
• DP12145 - Does the Public Disclosure of the SEC's Oversight Actions Matter?
  Miguel Duro, Jonas Heese, Gaizka Ormazabal
• DP12144 - Firm Risk and Disclosures about Dispersion in Asset Values:
  Marc Badia, Mary E. Barth, Miguel Duro, Gaizka Ormazabal
• DP12143 - Whistleblowers on the Board? The Role of Independent
  Murillo Campello, Daniel Ferrés, Gaizka Ormazabal
• DP12142 - Why Do Defaults Affect Behavior? Experimental Evidence from Afghanistan
  Joshua Blumenstock, Michael Callen, Tarek Ghani
• DP12141 - Geography, Search Frictions and Endogenous Trade Cost
  Giulia Brancaccio, Myrto Kalouptsidi, Theodore Papageorgiou
• DP12140 - Industrial Clusters, Organized Crime and Productivity Growth in Italian SMEs
  Roberto Ganau, Andrés Rodríguez-Pose
• DP12139 - News, Uncertainty and Economic Fluctuations
  Mario Forni, Luca Gambetti, Luca Sala
• DP12138 - Macroprudential policy and bank risk
  Yener Altunbas, Mahir Binici, Leonardo Gambacorta
• DP12137 - The Exchange Rate as an Instrument of Monetary Policy
  Jonas Heipertz, Ilian Mihov, Ana Maria Santacreu
• DP12136 - Land Trade and Development: A Market Design Approach
  Gharad Bryan, Jonathan de Quidt, Tom Wilkening, Nitin Yadav
• DP12135 - The Causal Impact of Social Connections on Firms' Outcomes
  Marcus Eliason, Lena Hensvik, Francis Kramarz, Oskar Nordstrom Skans
• DP12134 - Balance-Sheet Diversification in General Equilibrium: Identification and Network Effects
  Jonas Heipertz, Amine Ouazad, Romain Rancière, Natacha Valla
• DP12133 - Revenue- versus spending-based consolidation plans: the role of follow-up
  Roel Beetsma, Oana Furtuna, Massimo Giuliodori
• DP12132 - Secular Satiation
  Gilles Saint-Paul
• DP12131 - Institutions and Political Party Systems: The Euro Case
  Jesús Fernández-Villaverde, Tano Santos
• DP12130 - A Generalized Approach to Indeterminacy in Linear Rational Expectations Models
  Francesco Bianchi, Giovanni Nicolò
• DP12129 - Application Bundling in System Markets
  Alexandre de Cornière, Greg Taylor
• DP12128 - Spillovers, Persistence and Learning: Institutions and the Dynamics of Cooperation
  Roberto Galbiati, Emeric Henry, Nicolas Jacquemet
• DP12127 - The shifting drivers of global liquidity
  Stefan Avdjiev, Leonardo Gambacorta, Linda S. Goldberg, Stefano Schiaffi
• DP12126 - Training and Effort Dynamics in Apprenticeship
  Drew Fudenberg, Luis Rayo
• DP12125 - Hunting Unicorns? Experimental Evidence on Predatory Pricing Policies
  Aaron Edlin, Catherine Roux, Armin Schmutzler, Christian Thoeni

June 2017

• DP12124 - Productivity and trade spillovers: Horizontal crowding-out versus vertical synergies in Europe as a response to the Foreign Direct Investment
  Jan Hanousek, Evzen Kocenda, Pavla Vozarova
• DP12122 - Populism and Central Bank Independence
  Charles A Goodhart, Rosa Lastra
• DP12121 - Stocks for the Long Run: New Monthly Indices of British Equities, 1869-1929
  Richard Grossman
• DP12120 - The Difficult School-to-Work Transition of High School Dropouts: Evidence from a field experiment
  Pierre Cahuc, Stéphane Carcillo, Andreea Minea
• DP12119 - Populism and the Economics of Globalization
  Dani RodrikPublished June 201
• DP12118 - Boom, Slump, Sudden stops, Recovery, and Policy Options. Portugal and the Euro
  Olivier J Blanchard, Pedro Portugal
• DP12117 - Board Quotas and Director-Firm Matching
  Daniel Ferreira, Edith Ginglinger, Marie-Aude Laguna, Yasmine Skalli
• DP12116 - Sources of Liquidity and Liquidity Shortages
  Charles M. Kahn, Wolf Wagner
• DP12115 - Distorted Advice in Financial Markets: Evidence from the Mortgage Market
  Leonardo Gambacorta, Luigi Guiso, Paolo Emilio Mistrulli, Andrea Pozzi, Anton Tsoy
• DP12114 - In Search of a Spatial Equilibrium in the Developing World
  Douglas Gollin, Martina Kirchberger, David Lagakos
• DP12113 - Strategic Entry and Potential Competition: Evidence from Compressed Gas Fuel Retail
  Giulia Pavan, Andrea Pozzi, Gabriele Rovigatti
• DP12112 - Job Mobility and Creative Destruction: Flexicurity in the Land of Schumpeter
  Andreas Kettemann, Francis Kramarz, Josef Zweimüller
• DP12111 - Excess saving and low interest rates: Theory and empirical evidence
  Peter Bofinger, Mathias Ries
• DP12110 - Convergence in National Alcohol Consumption Patterns: New Global Indicators
  Kym Anderson, Alexander Holmes
• DP12109 - UK and global wine markets by 2025, and implications of Brexit
  Kym Anderson, Glyn Wittwer
• DP12108 - The International Dimensions of Macroprudential Policies
  Pierre-Richard Agénor, Leonardo Gambacorta, Enisse Kharroubi, Giovanni Lombardo, Luiz A. Pereira da Silva
• DP12107 - Eradicating Women-Hurting Customs: What Role for Social Engineering?
  Emmanuelle Auriol, Giula Camilotti, Jean-Philippe Platteau
• DP12106 - How Restricted is the Job Mobility of Skilled Temporary Work Visa Holders?
  Jennifer Hunt
• DP12105 - Measuring Rents from Public Employment: Regression discontinuity evidence from Kenya
  Nicholas Barton, Tessa Bold, Justin Sandefur
• DP12104 - Equity versus Bail-in Debt in Banking: An Agency Perspective
  Caterina Mendicino, Kalin Nikolov, Javier Suarez
• DP12103 - Houses across time and across place
  David K Miles, James Sefton
• DP12102 - The Diffusion of New Institutions: Evidence from Renaissance Venice's Patent System
  Stefano Comino, Alberto Galasso, Clara Graziano
• DP12101 - Why Are Single-Sex Schools Successful?
  Christian Dustmann, Hyejin Ku, Do Won Kwak
• DP12100 - Financial Literacy Externalities
  Michael Haliassos, Thomas Jansson, Yigitcan Karabulut
• DP12099 - Asymmetries in the Firm's Use of Debt to Changing Market Values
  Stephen Ferris, Jan Hanousek, Anastasiya Shamshur, Jiri Tresl
• DP12098 - Import Competition and Household Debt
  Jean-Noël Barrot, Erik Loualiche, Matthew Plosser, Julien Sauvagnat
• DP12097 - The Political Cost of Being Soft on Crime: Evidence from a Natural Experiment
  Francesco Drago, Roberto Galbiati, Francesco Sobbrio
• DP12096 - Social Security Contributions and the Business Cycle
  Anna Almosova, Michael C Burda, Simon Voigts
• DP12095 - Equilibrium Search and the Impact of Equal Opportunities for Women
  Melvyn G Coles, Marco Francesconi
• DP12094 -To bribe or not to bribe? Corruption uncertainty and corporate practices
  Jan Hanousek, Anastasiya Shamshur, Jiri Tresl
• DP12093 - A Tie That Binds: Revisiting the Trilemma in Emerging Market Economies
  Maurice Obstfeld, Jonathan D. Ostry, Mahvash S. Qureshi
• DP12092 - Online Exports and the Wage Gap
  Marcio Cruz, Emmanuel Milet, Marcelo Olarreaga
• DP12091 - Supply- and Demand-side Factors in Global Banking
  Mary Amiti, Patrick M. McGuire, David E. Weinstein
• DP12090 - What is the World Bank Good For? Global Public Goods and Global Institutions
  Ravi Kanbur
• DP12089 - The Digital Revolution and Targeting Public Expenditure for Poverty Reduction
  Ravi Kanbur
• DP12088 - Polls, the Press, and Political Participation: The Effects of Anticipated Election Closeness on Voter Turnout
  Leonardo Bursztyn, Davide Cantoni, Patricia Funk, Noam Yuchtman
• DP12087 - Non-Work at Work, Unemployment and Labor Productivity
  Michael C Burda, Katie R. Genadek, Daniel S. Hamermesh
• DP12086 - The Private Production of Safe Assets
  Marcin Kacperczyk, Christophe Perignon, Guillaume Vuillemey
• DP12085 - Empirical Evaluation of Overspecified Asset Pricing Models
  Elena Manresa, Francisco Peñaranda, Enrique Sentana
• DP12084 - Public Opinion on Immigration in Europe: Preference versus Salience
  Timothy J. Hatton
• DP12083 - Uncertainty and the Great Recession
  Benjamin Born, Sebastian Breuer, Steffen Elstner
• DP12082 - Total Factor Productivity Convergence in German States since Reunification: Evidence and Explanations
  Michael C Burda, Battista Severgnini
• DP12081 - From Weber to Kafka: Political Instability and the Rise of an Inefficient Bureaucracy
  Gabriele Gratton, Luigi Guiso, Claudio Michelacci, Massimo Morelli
• DP12080 - Detection and Impact of Industrial Subsidies: The Case of Chinese Shipbuilding
  Myrto Kalouptsidi
• DP12079 - International Monetary Relations: Taking Finance Seriously
  Maurice Obstfeld, Alan M. Taylor
• DP12078 - Cross-Border Mergers and Acquisitions: Evidence from the Indochina Region
  Manapol Ekkayokkaya, Pimnipa Foojinphan, Christian C Wolff
• DP12077 - Per-Capita Income and the Demand for Skills
  Justin Caron, Thibault Fally, James R. Markusen
• DP12076 - How Did China's WTO Entry Benefit U.S. Consumers?
  Mary Amiti, Mi Dai, Robert Feenstra, John Romalis
• DP12075 - How Important is the Global Financial Cycle? Evidence from Capital Flows
  Eugenio Cerutti, Stijn Claessens, Andrew K Rose
• DP12074 - Empirical Models of Firms and Industries
  Victor Aguirregabiria, Margaret Slade
• DP12073 - Sub-Saharan Africa's Manufacturing Sector: Building Complexity
  Haroon Bhorat, Ravi Kanbur, Christopher Rooney, François Steenkamp
• DP12072 - Secondary Towns and Poverty Reduction: Refocusing the Urbanization Agenda
  Luc Christiaensen, Ravi Kanbur
• DP12071 - Endogenous Childlessness and Stages of Development
  Thomas Baudin, David de la Croix, Paula Gobbi

May 2017

• DP12070 - Can Referral Improve Targeting? Evidence from a Vocational Training Experiment
  Marcel Fafchamps, Asadul Islam, Abdul Malek, Debayan Pakrashi
• DP12069 - Structural Change and the China Syndrome: Baumol vs Trade Effects
  Fabrizio Coricelli, Farshad R Ravasan
• DP12068 - Monetary Neutrality with Sticky Prices and Free Entry
  Florin Ovidiu Bilbiie
• DP12067 - Winner-Take-All Tournaments
  Mikhail Drugov, Dmitry Ryvkin
• DP12066 - The Production of Information in an Online World: Is Copy Right?
  Julia Cagé, Nicolas Hervé, Marie-Luce Viaud
• DP12065 - Journal Competition and the Quality of Published Research: Simultaneous versus Sequential Screening
  Thomas Gehrig, Rune Stenbacka
• DP12064 - Parental Leave, (In)formal Childcare and Long-term Child Outcomes
  Natalia Danzer, Martin Halla, Nicole Schneeweis, Martina Zweimüller
• DP12063 - On the Geography of Global Value Chains
  Pol Antràs, Alonso de Gortari
• DP12062 - The Effect of Migration on Terror - Made at Home or Imported from Abroad?
  Axel Dreher, Martin Gassebner, Paul Schaudt
• DP12061 - Price Manipulation in the Bitcoin Ecosystem
  Neil Gandal, JT Hamrick, Tyler Moore, Tali Oberman
• DP12060 - Ethical standards and cultural assimilation in financial services
  Alan Morrison, John Thanassoulis
• DP12059 - Price and Probability: Decomposing the Takeover Effects of Anti-Takeover Provisions
  Vicente Cunat, Mireia Gine, Maria Guadalupe
• DP12058 - Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins
  Thorsten Beck, Samuel Da-Rocha-Lopes, Andre Silva
• DP12057 - The Consumption Response to Minimum Wages: Evidence from Chinese Households
  Ernest Dautovic, Harald Hau, Yi Huang
• DP12056 - Belief Dispersion in the Stock Market
  Adem Atmaz, Suleyman Basak
• DP12055 - Turbulence, Firm Decentralization and Growth in Bad Times
  Philippe Aghion, Nicholas Bloom, Brian Lucking, Raffaella Sadun, John Van Reenen
• DP12054 - Evaluating Market Consolidation in Mobile Communications
  Christos D. Genakos, Tommaso Valletti, Frank Verboven
• DP12053 - China's Lost Generation: Changes in Beliefs and their Intergenerational Transmission
  Gérard Roland, David Yang
• DP12052 - The Effect of Physical Activity on Student Performance in College: An Experimental Evaluation
  Hans Fricke, Michael Lechner, Andreas Steinmayr
• DP12051 - Revisiting Speculative Hyperinflations in Monetary Models
  Maurice Obstfeld, Kenneth Rogoff
• DP12050 - The Labor Market Effects of Refugee Waves: Reconciling Conflicting Results
  Michael A. Clemens, Jennifer Hunt
• DP12049 - Selling with Evidence
  Frédéric Koessler, Vasiliki Skreta
• DP12048 - Selling Through Referrals
  Daniele Condorelli, Andrea Galeotti, Vasiliki Skreta
• DP12047 - Lags, Costs and Shocks: An Equilibrium Model of the Oil Industry
  Gideon Bornstein, Per Krusell, Sérgio Rebelo
• DP12046 - Product Choice and Price Discrimination in Markets with Search Costs
  Natalia Fabra, Juan Pablo Montero
• DP12045 - Imperfect Financial Markets and Shareholder Incentives in Partial and General Equilibrium
  Elias Albagli, Christian Hellwig, Aleh Tsyvinski
• DP12044 - Sales and Markup Dispersion: Theory and Empirics
  Monika Mrazova, J Peter Neary, Mathieu Parenti
• DP12043 - Safe Assets
  Robert J. Barro, Jesús Fernández-Villaverde, Oren Levintal, Andrew Mollerus
• DP12042 - Beresford's Revenge: British equity holdings in Latin America, 1869-1929
  Richard Grossman
• DP12041 - The Fall of the Labor Share and the Rise of Superstar Firms
  David Autor, David Dorn, Lawrence Katz, Christina Patterson, John Van Reenen
• DP12040 - Financial Conglomerate Affiliated Hedge Funds: Risk Taking Behavior and Liquidity Provision
  Francesco Franzoni, Mariassunta Giannetti
• DP12039 - The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound
  Athanasios Orphanides
• DP12038 - Lessons Unlearned? Corporate Debt in Emerging Markets
  Laura Alfaro, Gonzalo Asis, Anusha Chari, Ugo Panizza
• DP12037 - State Capacity and Public Goods: Institutional Change, Human Capital, and Growth in Historic Germany
  Jeremiah Dittmar, Ralf Meisenzahl
• DP12036 - Bounded Rationality And Learning: A Framework and A Robustness Result
  Aislinn Bohren, Daniel Hauser
• DP12035 - The Distributional Consequences of Large Devaluations
  Javier Cravino, Andrei A. Levchenko
• DP12034 - Intertemporal Price Discrimination with Multiple Products
  Jean-Charles Rochet, John Thanassoulis
• DP12033 - Corporate Leverage and Employees' Rights in Bankruptcy
  Andrew Ellul, Marco Pagano
• DP12032 - U.S. Immigration Reform and the Dynamics of Mexican Migration
  Khulan Altangerel, Jan C. van Ours
• DP12031 - Evaluation of the Reggio Approach to Early Education
  Pietro Biroli, Daniela Del Boca, James Heckman, Yu Kyung Koh, Sylvi Kuperman, Sidhardth Moktan, Lynne Pettler Heckman, Chiara Pronzato, Anna Ziff
• DP12030 - Unemployment Insurance and Reservation Wages: Evidence from Administrative Data
  Thomas Le Barbanchon, Roland Rathelot, Alexandra Roulet
• DP12029 - Trend TFP Growth in the United States: Forecasts versus Outcomes
  Nicholas Crafts, Terence C Mills
• DP12028 -Overpersistence Bias in Individual Income Expectations and its Aggregate Implications
  Filip Rozsypal, Kathrin Schlafmann
• DP12027 - The impact of macroprudential policies and their interaction with monetary policy: an empirical analysis using credit registry data
  Leonardo Gambacorta, Andrés Murcia
• DP12026 - Globalization and Executive Compensation
  Wolfgang Keller, Will Olney
• DP12025 - Asymmetric Consumption Effects of Transitory Income Shocks
  Dimitris Christelis, Dimitris Georgarakos, Tullio Jappelli, Luigi Pistaferri, Maarten Van Rooij
• DP12024 - Systematic Monetary Policy and the Macroeconomic Effects of Shifts in Loan-to-Value Ratios
  Rüdiger Bachmann, Sebastian Rueth
• DP12023 - Marginal Deterrence at Work
  Rosario Crinò, Giovanni Immordino, Salvatore Piccolo
• DP12022 - How Important are Spillovers from Major Emerging Markets?
  Raju Huidrom, Ayhan Kose, Franziska Ohnsorge
• DP12021 - Adapting to Radical Change: The Benefits of Short-Horizon Investors
  Mariassunta Giannetti, Xiaoyun Yu
• DP12020 - Monetary-Fiscal Interactions and the Euro Area's Malaise
  Marek Jarocinski, Bartosz Adam Mackowiak
• DP12019 - Global earnings inequality, 1970-2015
  Olle Hammar, Daniel Waldenström
• DP12018 - Job-related Mobility and Plant Performance in Sweden
  Rikard Eriksson, Andrés Rodríguez-Pose
• DP12017 - Is Europe an Optimal Political Area?
  Alberto Alesina, Guido Tabellini, Francesco Trebbi
• DP12016 - The effects of Fiscal Consolidations: Theory and Evidence
  Alberto Alesina, Omar Barbiero, Carlo A. Favero, Francesco Giavazzi, Matteo Paradisi
• DP12015 - Survivor: Three Principles of Economics Lessons as Taught by a Reality Television Show
  Dean S. Karlan
• DP12014 - Limited Attention, Salience and Changing Prices: Evidence from a Field Experiment in Online Supermarket Shopping.
  Kfir Eliaz, Orli Oren-Kolbinger, Sarit Weisburd

April 2017

• DP12013 - Model Uncertainty in Macroeconomics: On the Implications of Financial Frictions
  Michael Binder, Philipp Lieberknecht, Jorge Quintana, Volker Wieland
• DP12012 - Decentralization and Efficiency of Subsidy Targeting: Evidence from Chiefs in Rural Malawi
  Pia Basurto, Pascaline Dupas, Jonathan Robinson
• DP12011 - Monetary Policy at Work: Security and Credit Application Registers Evidence
  José Luis Peydró, Andrea Polo, Enrico Sette
• DP12010 - Are Mutual Fund Managers Paid For Investment Skill?
  Marcus Ibert, Ron Kaniel, Stijn van Nieuwerburgh, Roine Vestman
• DP12009 - Bank sectoral concentration and (systemic) risk: Evidence from a worldwide sample of banks
  Thorsten Beck, Olivier De Jonghe, Klaas Mulier
• DP12008 - How post-crisis regulation has affected bank CEO compensation
  Vittoria Cerasi, Sebastian Deininger, Leonardo Gambacorta, Tommaso Oliviero
• DP12007 - Are risk-based capital requirements detrimental to corporate lending? Evidence from Europe
  Brunella Bruno, Giacomo Nocera, Andrea Cesare Resti
• DP12006 - Suitable or non-suitable? An investigation of Eurozone SME access to market-based finance
  Paola Bongini, Annalisa Ferrando, Emanuele Rossi, Monica Rossolini
• DP12005 - Whatever it takes: The Real Effects of Unconventional Monetary Policy
  Viral V Acharya, Tim Eisert, Christian Eufinger, Christian Hirsch
• DP12004 - From Start-up to Scale-up: Examining Public Policies for the Financing of High-Growth Ventures
  Gilles Durufle, Thomas F Hellmann, Karen Wilson
• DP12003 - Financial frictions and corporate investment in bad times. Who cut back most?
  Brunella Bruno, Alexandra D'Onofrio, Immacolata Marino
• DP12002 - Determinants of bank lending in Europe and the United States: Evidence from crisis and post-crisis years
  Brunella Bruno, Alexandra D'Onofrio, Immacolata Marino
• DP12001 - Who gets the urban surplus?
  Paul Collier, Anthony J Venables
• DP12000 - On the Joint Evolution of Culture and Institutions
  Alberto Bisin, Thierry Verdier
• DP11999 - Unreal Wages? Real Income and Economic Growth in England, 1260-1850
  Jane Humphries, Jacob Weisdorf
• DP11998 - U.S. municipal yields and unfunded state pension liabilities
  Roel Beetsma, Zina Lekniute, Eduard Ponds
• DP11997 - Dissecting US recoveries
  Maria Dolores Gadea Rivas, Ana Gómez Loscos, Gabriel Pérez-Quirós
• DP11996 - Moving On Up for High School Graduates in Russia: The Consequences of the United State Exam Reform
  Marco Francesconi, Fabian Slonimczyk, Anna Yurko
• DP11995 - What Drives Differences in Management?
  Nicholas Bloom, erik Brynjolfsson, Lucia Foster, Ron Jarmin, Megha Patnaik, Itay Saporta-Eksten, John Van Reenen
• DP11994 - Cities, Towns, and Poverty: Migration Equilibrium and Income Distribution in a Todaro-type Model with Multiple Destinations
  Luc Christiaensen, Joachim De Weerdt, Ravi Kanbur
• DP11993 - Canary in a Coalmine: Securities Lending Predicting the Performance of Securitized Bonds
  Elisabeth Kempf, Alberto Manconi, Massimo Massa
• DP11992 - Corporate Bond Guarantees and The Value of Financial Flexibility
  Michela Altieri, Alberto Manconi, Massimo Massa
• DP11991 - Much Ado About Nothing: Is the Market Affected by Political Bias?
  Mancy Luo, Alberto Manconi, Massimo Massa
• DP11990 - Inefficient Globalization of Finance: Evidence from Marketing-Oriented Overseas Expansions of Low-Skilled Mutual Fund Families
  Si Cheng, Massimo Massa, Hong Zhang
• DP11989 - The New Keynesian Cross: Understanding Monetary Policy with Hand-to-Mouth Households
  Florin Ovidiu Bilbiie
• DP11988 - The Unexpected Activeness of Passive Investors: A World-Wide Analysis of ETFs
  Si Cheng, Massimo Massa, Hong Zhang
• DP11987 - Choices in Equity Finance A Global Perspective
  Moqi Groen-Xu, Massimo Massa, Virginie Mataigne, Theo Vermaelen
• DP11986 - Mergers and Acquisitions and the Value of Control
  Gur Aminadav, Massimo Massa, Hong Zhang, Weikang Zhu
• DP11985 - Competition in Agricultural Markets: An Experimental Approach
  Lorenzo Casaburi, Tristan Reed
• DP11984 - On the Rewards to International Investing: A Safe Haven Currency Perspective
  Jean-Pierre Danthine, Samuel Danthine
• DP11983 - Gradual Portfolio Adjustment: Implications for Global Equity Portfolios and Returns
  Philippe Bacchetta, Eric van Wincoop
• DP11982 - Differences in positions along a hierarchy: Counterfactuals based on an assignment model
  Laurent Gobillon, Dominique Meurs, Sébastien Roux
• DP11981 - Household Matters: Revisiting the Returns to Capital among Female Micro-entrepreneurs
  Arielle Bernhardt, Erica Field, Rohini Pande, Natalia Rigol
• DP11980 - Wedges: Distribution, Distortions, and Market Integration
  Giuseppe Bertola
• DP11979 - Turbulence, Firm Decentralization and Growth in Bad Times
  Philippe Aghion, Nicholas Bloom, Brian Lucking, Raffaella Sadun, John Van Reenen
• DP11978 - Population Aging, Social Security and Fiscal Limits
  Burkhard Heer, Vito Polito, Michael R. Wickens
• DP11977 - Early agglomeration or late agglomeration?: Two phases of development with spatial sorting
  Rikard Forslid, Toshihiro Okubo
• DP11976 - Spatial Competition, Innovation and Institutions: The Industrial Revolution and the Great Divergence
  Klaus Desmet, Avner Greif, Stephen L. Parente
• DP11975 - The Good and the Bad Fiscal Theory of the Price Level
  Willem H. Buiter
• DP11974 - Are stock-financed takeovers opportunistic?
  B Espen Eckbo, Tanakorn Makaew, Karin S Thorburn
• DP11973 - Growing, Shrinking and Long Run Economic Performance: Historical Perspectives on Economic Development
  Stephen N Broadberry, John Wallis
• DP11972 - China, Europe and the great Divergence: A Study in Historical National Accounting, 980-1850
  Stephen N Broadberry, Hanhui Guan, David Daokui Li
• DP11971 - Japan and the Great Divergence, 730-1874
  Jean-Pascal Bassino, Stephen N Broadberry, Kyoji Fukao, Bishnupriya Gupta, Masanori Takashima
• DP11970 - The Quanto Theory of Exchange Rates
  Lukas Kremens, Ian Martin
• DP11969 - Negative interest rates in Switzerland: What have we learned?
  Jean-Pierre Danthine
• DP11968 - Individuals and Organizations as Sources of State Effectiveness, and Consequences for Policy Design
  Michael Best, Jonas Hjort, David Szakonyi
• DP11967 - Functional Upgrading in China's Export Processing Sector
  Ari Van Assche, Johannes Van Biesebroeck
• DP11966 - A Central Bank Theory of Price Level Determination
  Pierpaolo Benigno
• DP11965 - Learning about the Enforcement of Conditional Welfare Programs: Evidence from Brazil
  Fernanda Brollo, Katja Kaufmann, Eliana La Ferrara
• DP11964 - The Political Economy of Program Enforcement: Evidence from Brazil
  Fernanda Brollo, Katja Kaufmann, Eliana La Ferrara
• DP11963 - Precaution Versus Mercantilism: Reserve Accumulation, Capital Controls, and the Real Exchange Rate
  Woo Jin Choi, Alan M. Taylor
• DP11962 - Attrition in Randomized Control Trials: Using tracking information to correct bias
  Karen Macours, Teresa Molina Millan
• DP11961 - Credit Ratings and Market Information
  Alessio Piccolo, Joel Shapiro
• DP11960 - CEO Behavior and Firm Performance
  Oriana Bandiera, Stephen Hansen, Andrea Prat, Raffaella Sadun
• DP11959 - The Benefits from Foreign Direct Investment in a Cross-Country Context: A Meta-Analysis
  Randolph Bruno, Nauro F Campos, Saul Estrin
• DP11958 - Amenities and the Social Structure of Cities
  Carl Gaigné, Hans Koster, Fabien Moizeau, Jacques-François Thisse
• DP11957 - Changing business models in international bank funding
  Leonardo Gambacorta, Stefano Schiaffi, Adrian van Rixtel
• DP11956 - Pipeline Risk in Leveraged Loan Syndication
  Max Bruche, Frédéric Malherbe, Ralf Meisenzahl
• DP11955 - A Model of Directed Consumer Search
  Marco A. Haan, José-Luis Moraga-González, Vaiva Petrikaite
• DP11954 - Who Voted for Brexit? A Comprehensive District-Level Analysis
  Sascha O. Becker, Thiemo Fetzer, Dennis Novy
• DP11953 - Cross-border Acquisitions and Restructuring: Multinational Enterprises and Private Equity-Firms
  Lars Persson
• DP11952 - Pulling up the Tarnished Anchor: The End of Silver as a Global Unit of Account
  Ricardo Fernholz, Kris James Mitchener, Marc Weidenmier
• DP11951 - International Expansion and Riskiness of Banks
  Ester Faia, Gianmarco Ottaviano, Irene Sanchez Arjona
• DP11950 - Uncertainty shocks, asset supply and pricing over the business cycle
  Francesco Bianchi, Cosmin Ilut, Martin Schneider
• DP11949 - Humans' (incorrect) distrust of reflective decisions
  Antonio Cabrales, Antonio Espin, Praveen Kujal, Stephen Rassenti

March 2017

• DP11948 - Salience in Retailing: Vertical Restraints on Internet Sales
  Magdalena Helfrich, Fabian Herweg
• DP11947 - Deposit Insurance and Reinsurance: A General Equilibrium Perspective
  Hans Gersbach, Hans Haller, Britz Volker
• DP11946 - Do Childhood Experiences of Parental Separation Lead to Homelessness?
  Julie Moschion, Jan C. van Ours
• DP11945 - The Limits of Political Compromise: Debt Ceilings and Political Turnover
  Alexandre B. Cunha, Emanuel Ornelas
• DP11944 - Collusion and Information Revelation in Auctions
  Aniol Llorente-Saguer, Ro'i Zultan
• DP11943 - Market Size, Product Differentiation and Bidding for New Varieties
  Jie Ma, Ian Wooton
• DP11942 - New and Improved: Does FDI Boost Production Complexity in Host Countries?
  Beata Javorcik, Alessia Lo Turco, Daniela Maggioni
• DP11941 - The Fallacy of the Fiscal Theory of the Price Level - Once More
  Willem H. Buiter
• DP11940 - Global Banking: Risk Taking and Competition
  Ester Faia, Gianmarco Ottaviano
• DP11939 - Research and the Approval Process: The Organization of Persuasion
  Emeric Henry, Marco Ottaviani
• DP11938 - Students in Distress: Labor Market Shocks, Student Loan Default, and Federal Insurance Programs
  Holger M Mueller, Constantine Yannelis
• DP11937 - Are Conditional Cash Transfers Fulfilling Their Promise? Schooling, Learning, and Earnings After 10 Years
  Tania Barham, Karen Macours, John Maluccio
• DP11936 - Tax progressivity and top incomes: Evidence from tax reforms
  Enrico Rubolino, Daniel Waldenström
• DP11935 - Trends and gradients in top tax elasticities: Cross-country evidence, 1900-2014
  Enrico Rubolino, Daniel Waldenström
• DP11934 - Bank Capital Redux: Solvency, Liquidity, and Crisis
  Òscar Jordà, Björn Richter, Moritz Schularick, Alan M. Taylor
• P11933 - Blockholder Voting
  Heski Bar-Isaac, Joel Shapiro
• DP11932 - Bid-to-cover and yield changes around public debt auctions in the euro area
  Roel Beetsma, Frank de Jong, Massimo Giuliodori, Jesper Hanson
• DP11931 - Samaritan Bundles: Inefficient Clustering in NGO Projects
  Gani Aldashev, Marco Marini, Thierry Verdier
• DP11930 - Inequality Indices as Tests of Fairness
  Ravi Kanbur, Andy Snell
• DP11929 - Risk Aversion as a Perceptual Bias
  Mel Win Khaw, Ziang Li, Michael Woodford
• DP11928 - Exchange Rate Policies at the Zero Lower Bound
  Manuel Amador, Javier Bianchi, Luigi Bocola, Fabrizio Perri
• DP11927 - Instability, imprecision and inconsistent use of equilibrium real interest rate estimates
  Robert Beyer, Volker Wieland
• DP11926 - Diasporas and Conflict
  Fabio Mariani, Marion Mercier, Thierry Verdier
• DP11925 - Deflating Inflation Expectations: The Implications of Inflation's Simple Dynamics
  Stephen G Cecchetti, Michael Feroli, Peter Hooper, Anil K Kashyap, Kermit Schoenholtz
• DP11924 - Is Distance Dead? Face-to-Face Communication and Productivity in Teams
  Diego Battiston, Jordi Blanes I Vidal, Tom Kirchmaier
• DP11923 - How Effective Are Active Labor Market Policies in Developing Countries? A Critical Review of Recent Evidence
  David J. McKenzie
• DP11922 - Product versus Process: Innovation Strategies of Multi-Product Firms
  Lisandra Flach, Michael Irlacher
• DP11921 - Returns to on-the-job search and the dispersion of wages
  Axel Gottfries, Coen N Teulings
• DP11920 - Did the Basel Process of Capital Regulation Enhance the Resiliency of European Banks?
  Thomas Gehrig, Maria Chiara Iannino
• DP11919 - Mapping the interconnectedness between EU banks and shadow banking entities
  Jorge Abad, Marco D'Errico, Neill Killeen, Vera Luz, Tuomas Peltonen, Richard Portes, Teresa Urbano
• DP11918 - Monetary policy's rising FX impact in the era of ultra-low rates
  Massimo Ferrari, Jonathan Kearns, Andreas Schrimpf
• DP11917 - Geographical Origins and Economic Consequences of Language Structures
  Assaf Sarid, Oded Galor, Omer Ozak
• DP11916 - Inequality, redistribution and cultural integration in the Welfare State
  Alberto Bisin, Thierry Verdier
• DP11915 - A theory of regional conflict complexes
  Arthur Silve, Thierry Verdier
• DP11914 - Myopia and Discounting
  Xavier Gabaix, David Laibson
• DP11913 - Does ethnic segregation matter for spatial inequality? A cross-country analysis
  Roberto Ezcurra, Andrés Rodríguez-Pose
• DP11912 - Local Food Prices and International Price Transmission
  Eddy Bekkers, Martina Brockmeier, Joseph Francois, Fan Yang
• DP11911 - Explaining International Business Cycle Synchronization: Recursive Preferences and the Terms of Trade Channel
  Robert Kollmann
• DP11910 - College Admission and High School Integration
  Fernanda Estevan, Thomas Gall, Patrick Legros, Andrew Newman
• DP11909 - Online Exploration, Content Choice & Echo Chambers: An Experiment
  Sagit Bar-Gill, Neil Gandal
• DP11908 - The Surprising Pass-Through of Solar Subsidies
  Jacquelyn Pless, Arthur Van Benthem
• DP11907 - Financial Cycles with Heterogeneous Intermediaries
  Nuno Coimbra, Hélène Rey
• DP11906 - International Inflation Spillovers Through Input Linkages
  Raphael Auer, Andrei A. Levchenko, Philip Sauré
• DP11905 - The globalisation of inflation: the growing importance of global value chains
  Raphael Auer, Claudio Borio, Andrew J Filardo
• DP11904 - Prizes versus Contracts as Incentives for Innovation
  Yeon-Koo Che, Elisabetta Iossa, Patrick Rey
• DP11903 - Global Skill-Based Immigration Policies and Israel's Brain Drain
  Assaf Razin
• DP11902 - The Making of Hawks and Doves: Inflation Experiences on the FOMC
  Ulrike M. Malmendier, Stefan Nagel, Zhen Yan
• DP11901 - Credit Misallocation During the European Financial Crisis
  Fabiano Schivardi, Enrico Sette, Guido Tabellini
• DP11900 - Understanding the Determinants of Financial Outcomes and Choices: The Role of Noncognitive Abilities
  Gianpaolo Parise, Kim Peijnenburg
• DP11899 - Migrants and the Making of America: The Short and Long Run Effects of Immigration during the Age of Mass Migration
  Nathan Nunn, Nancy Qian, Sandra Sequeira
• DP11898 - Whistle-Blower Protection: Theory and Experimental Evidence
  Lydia Mechtenberg, Gerd Muehlheusser, Andreas Roider
• DP11897 - The Peace Dividend of Distance: Violence as Interaction Across Space
  Hannes Mueller, Dominic Rohner, David Schönholzer
• DP11896 - Picking Funds with Confidence
  Niels Groenborg, Asger Lunde, Allan G Timmermann, Russ Wermers
• DP11895 - Transparency, Investor Information Acquisition, and Money Market Fund Risk Rebalancing during the 2011-12 Eurozone Crisis
  Emily Gallagher, Lawrence Schmidt, Allan G Timmermann, Russ Wermers
• DP11894 - Comparing Apples to Apples: Estimating Consistent Partial Effects of Preferential Economic Integration Agreements
  Peter Egger, Filip Tarlea
• DP11893 - The effects of tax on bank liability structure
  Leonardo Gambacorta, Giacomo Ricotti, Suresh M Sundaresan, Zhenyu Wang
• DP11892 - The Great Chinese Inequality Turnaround
  Ravi Kanbur, Yue Wang, Xiaobo Zhang
• DP11891 - Structural breaks in panel data: Large number of panels and short length time series
  Jaromir Antoch, Jan Hanousek, Lajos Horvath, Marie Huskova, Shixuan Wang
• DP11890 - Trade Policy and Redistribution when Preferences are Non-Homothetic
  Quy-Toan Do, Andrei A. Levchenko
• DP11889 - consumption and investment in resource pooling family networks
  Manuela Angelucci, Giacomo De Giorgi, Imran Rasul
• DP11888 - The Fall of Capital Punishment and the Rise of Prisons: How Punishment Severity Affects Jury Verdicts
  Anna Bindler, Randi Hjalmarsson
• DP11887 - Endogenous Asymmetric Shocks in the Eurozone. The Role of Animal Spirits
  Paul De Grauwe, Yuemei Ji
• DP11886 - Weakness in Investment Growth: Causes, Implications and Policy Responses
  Ergys Islamaj, Ayhan Kose, Franziska Ohnsorge, Lei Sandy Ye
• DP11885 - Exchange rate implications of Border Tax Adjustment Neutrality
  Willem H. Buiter

February 2017

• DP11884 - The determinants of coagglomeration: Evidence from functional employment patterns
  Kristian Behrens, Rachel Guillain
• DP11883 - Real estate prices and corporate investment: theory and evidence of heterogeneous effects across firms
  Denis Fougère, Rémy Lecat, Simon Ray
• DP11882 - Israel Globalized: High Tech, Productivity and FDI
  Assaf Razin
• DP11881 - The Economist as Plumber
  Esther Duflo
• DP11880 - Political Specialization
  Bernardo Guimarães, Kevin D. Sheedy
• DP11879 - Economics and Politics of International Investment Agreements
  Henrik Horn, Thomas Tangerås
• DP11878 - When Work Disappears: Manufacturing Decline and the Falling Marriage-Market Value of Men
  David Autor, David Dorn, Gordon Hanson
• DP11877 - Israel's Immigration Story: Globalization lessons
  Assaf Razin
• DP11876 - How the Tight Oil Boom Has Changed Oil and Gasoline Markets
  Lutz Kilian
• DP11875 - Media Capture through Favor Exchange
  Adam Szeidl, Ferenc Szucs
• DP11874 - Vertical Integration and Relational Contracts: Evidence from the Costa Rica Coffee Chain
  Rocco Macchiavello, Josepa Miquel-Florensa
• DP11873 - The Macrogenoeconomics of Comparative Development
  Quamrul Ashraf, Oded Galor
• DP11872 - Follow the money: Does the financial sector intermediate natural resource windfalls?
  Thorsten Beck, Steven Poelhekke
• DP11871 - Demand and Supply of Populism
  Luigi Guiso, Helios Herrera, Massimo Morelli, Tommaso Sonno
• DP11870 - Creditor Control Rights and Board Independence
  Daniel Ferreira, Miguel Ferreira, Beatriz Mariano
• DP11869 - Adverse Selection and Assortative Matching in Labor Markets
  Daniel Ferreira, Radoslawa Nikolowa
• DP11868 - Is the Discretionary Income Effect of Oil Price Shocks a Hoax?
  Christiane Baumeister, Lutz Kilian, Xiaoqing Zhou
• DP11867 - Information Design: A Unified Perspective
  Dirk Bergemann, Stephen Morris
• DP11866 - Capitalism and Socialism: Review of Kornai's Dynamism, Rivalry, and the Surplus Economy
  Cheng-Gang Xu
• DP11865 -Technology-Skill Complementarity in Early Phases of Industrialization
  Raphael Franck, Oded Galor
• DP11864 - Political Cycles and Stock Returns
  Luboš Pástor, Pietro Veronesi
• DP11863 - Dynamic Higher Order Expectations
  Kristoffer P Nimark
• DP11862 - Cost and Product Advantages: A Firm-level Model for the Chinese Exports and Industry Growth
  Jordi Jaumandreu, Heng Yin
• DP11861 - Multi-Product Firms and Product Quality
  Kalina Manova, Zhihong Yu
• DP11860 - A Theory of Grand Innovation Prizes
  Alberto Galasso, Matthew Mitchell, Gabor Virag
• DP11859 - Losing Trust in Money Doctors
  Daniel Dorn, Martin Weber
• DP11858 - Firms' Internal Networks and Local Economic Shocks
  Xavier Giroud, Holger M Mueller
• DP11857 - Contracting out the Last-Mile of Service Delivery: Subsidized Food Distribution in Indonesia
  Abhijit Banerjee, Rema Hanna, Jordan Kyle, Benjamin Olken, Sudarno Sumarto
• DP11856 - EU Membership or Thatcher's Structural Reforms: What Drove the Great British Reversal?
  Nauro F Campos, Fabrizio Coricelli
• DP11855 - The International Elasticity Puzzle Is Worse Than You Think
  Lionel Fontagne, Philippe Martin, Gianluca Orefice
• DP11851 - Following the Code: Spillovers and Knowledge Transfer
  Neil Gandal, Peter Naftaliev, Uriel Stettner
• DP11850 - Aftershocks of Monetary Unification: Hysteresis with a Financial Twist
  Tamim Bayoumi, Barry Eichengreen
• DP11849 - The Design of Credit Information Systems
  Venkataraman Bhaskar, Caroline Thomas
• DP11848 - Accounting for Wealth Inequality Dynamics: Methods, Estimates and Simulations for France (1800-2014)
  Bertrand Garbinti, Jonathan Goupille-Lebret, Thomas Piketty
• DP11847 - Who Receives Medicaid in Old Age? Rules and Reality
  Margherita Borella, Mariacristina De Nardi, Eric Baird French
• DP11846 - The End of Alchemy: A Review Essay
  Roger E A Farmer
• DP11845 - The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten's Theorem
  David Rezza Baqaee, Emmanuel Farhi
• DP11844 - Monetary Policy and the Predictability of Nominal Exchange Rates
  Martin Eichenbaum, Benjamin Johannsen, Sérgio Rebelo
• DP11843 - Activism, Strategic Trading, and Liquidity
  Kerry E. Back, Pierre Collin-Dufresne, Vyacheslav Fos, Tao Li, Alexander P. Ljungqvist
• DP11842 - "Low-For-Long” Interest Rates and Banks' Interest Margins and Profitability: Cross-Country Evidence
  Stijn Claessens, Nicholas Coleman, Michael Donnelly
• DP11841 - Carbon Dioxide Emissions and Economic Growth: An Assessment based on Production and Consumption Emission Inventories
  Octavio Fernández-Amador, Joseph Francois, Doris Oberdabernig, Patrick Tomberger
• DP11840 - Democracy and Credit “Democracy Doesn`t Come Cheap” But At Least Credit to Its Corporations Will Be
  Manthos Delis, Iftekhar Hasan, Steven Ongena
• DP11839 - International Spillovers and Local Credit Cycles
  Yusuf Soner Baskaya, Julian di Giovanni, Sebnem Kalemli-Ozcan, Mehmet Fatih Ulu
• DP11838 - Risk-sharing benefits and the capital structure of insurance companies
  Hans Degryse, Kristien Smedts, Cynthia Van Hulle
• DP11837 - Company Stock Reactions to the 2016 Election Shock: Trump, Taxes and Trade
  Alexander F Wagner, Richard Zeckhauser, Alexandre Ziegler
• DP11836 - The Global Role of the U.S. Economy: Linkages, Policies and Spillovers
  Ayhan Kose, Csilla Lakatos, Franziska Ohnsorge, Marc Stocker
• DP11835 - When Britain turned inward: Protection and the shift towards Empire in interwar Britain
  Alan de Bromhead, Alan Fernihough, Markus Lampe, Kevin Hjortshøj O'Rourke
• DP11834 - Central Bank Policies and the Debt Trap
  Athanasios Orphanides
• DP11833 - Rents, Technical Change, and Risk Premia: Accounting for Secular Trends in Interest Rates, Returns to Capital, Earnings Yields, and Factor Shares
  Ricardo Caballero, Emmanuel Farhi, Pierre-Olivier Gourinchas
• DP11832 - Revisiting the Commodity Curse: A Financial Perspective
  Enrique Alberola, Gianluca Benigno
• DP11831 - The World We Live In: Local or Global?
  Kees Koedijk, Ronald J Mahieu, Jenke ter Horst, Joris van Toor
• DP11830 - The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy
  Andrew Fieldhouse, Karel Mertens, Morten O Ravn
• DP11829 - The Consumption Response to Positive and Negative Income Changes
  Philip Bunn, Jeanne LeRoux, Kate Reinold, Paolo Surico
• DP11828 - Rethinking Detroit
  Raymond Owens, Esteban Rossi-Hansberg, Pierre-Daniel Sarte
• DP11827 - Capital Flows and the International Credit Channel
  Yusuf Soner Baskaya, Julian di Giovanni, Sebnem Kalemli-Ozcan, José Luis Peydró, Mehmet Fatih Ulu
• DP11826 - Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?
  Ethan Ilzetzki, Carmen M. Reinhart, Kenneth Rogoff
• DP11825 - Human Capital Acquisition and Occupational Choice: Implications for Economic Development
  Martí Mestieri, Johanna Schauer, Robert M Townsend
• DP11824 - Are the Spanish Long-Term Unemployed Unemployable?
  Samuel Bentolila, J. Ignacio García-Pérez, Marcel Jansen
• DP11823 - Global Banking: Recent Developments and Insights from Research
  Stijn Claessens
• DP11822 - Regulation and structural change in financial systems
  Stijn Claessens
• DP11821 - The Role of Foreign Banks in Trade
  Stijn Claessens, Omar Hassib, Neeltje Van Horen

January 2017

• DP11820 - Design of optimal corrective taxes in the alcohol market
  Rachel Griffith, Martin O'Connell, Kate Smith
• DP11819 - Testing part of a DSGE model by Indirect Inference
  Patrick Minford, Michael R. Wickens, Yongdeng Xu
• DP11818 - A note on news about the future: the impact on DSGE models and their VAR representation
  Vo Phuong Mai Le, David Meenagh, Patrick Minford
• DP11817 - What is the truth about DSGE models? Testing by indirect inference
  David Meenagh, Patrick Minford, Michael R. Wickens, Yongdeng Xu
• DP11816 - Comparing different data descriptors in Indirect Inference tests on DSGE models
  Patrick Minford, Michael R. Wickens, Yongdeng Xu
• DP11815 - The Explosive Combination of Religious Decentralisation and Autocracy: the Case of Islam
  Emmanuelle Auriol, Jean-Philippe Platteau
• DP11814 - Monetary Policy and Inequality when Aggregate Demand depends on Liquidity
  Florin Ovidiu Bilbiie, Xavier Ragot
• DP11813 - The Unexpected Consequences of Asymmetric Competition. An Application to Big Pharma
  Micael Castanheira, Maria-Angeles de Frutos, Carmine Ornaghi, Georges Siotis
• DP11812 - Is Global Equality the Enemy of National Equality?
  Dani Rodrik
• DP11811 - The Economic Effects of Public Financing: Evidence from Municipal Bond Ratings Recalibration
  Manuel Adelino, Igor Cunha, Miguel Ferreira
• DP11810 - Concentrating on the Fall of the Labor Share
  David Autor, David Dorn, Lawrence Katz, Christina Patterson, John Van Reenen
• DP11809 - Firm-Related Risk and Precautionary Saving Response
  Andreas Fagereng, Luigi Guiso, Luigi Pistaferri
• DP11808 - Social Media and Political Donations: New Technology and Incumbency Advantage in the United States
  Maria Petrova, Ananya Sen, Pinar Yildirim
• DP11807 - Post Keynesian Dynamic Stochastic General Equilibrium Theory
  Roger E A Farmer
• DP11806 - Gross Capital Inflows to Banks, Corporates and Sovereigns
  Stefan Avdjiev, Bryan Hardy, Sebnem Kalemli-Ozcan, Luis Servén
• DP11805 - Backtesting European Stress Tests
  Boubacar Camara, Pierre Pessarossi, Thomas Philippon
• DP11804 - The Recent Growth Boom in Developing Economies: A Structural-Change Perspective
  Xinshen Diao, Margaret McMillan, Dani Rodrik
• DP11803 - Efficient Lemons
  Rasim Burak Uras, Wolf Wagner
• DP11802 - Comparing Alternative Policies Against Environmental Catastrophes
  Timothy J. Besley, Avinash K. Dixit
• DP11801 - Large and state-dependent effects of quasi-random monetary experiments
  Òscar Jordà, Moritz Schularick, Alan M. Taylor
• DP11800 - Rage Against the Machines: Labour-Saving Technology and Unrest in England, 1830-32
  Bruno Caprettini, Hans-Joachim Voth
• DP11799 - Regulatory harmonization, profits, and productivity: Firm-level evidence from Morocco
  Patricia Augier, Olivier Cadot, Marion Dovis
• DP11798 - Signaling in Contests
  Aner Sela
• DP11797 - Women's career choices, social norms and child care policies
  Francesca Barigozzi, Helmuth Cremer, Kerstin Roeder
• DP11796 - Foreign Banks and International Transmission of Monetary Policy: Evidence from the Syndicated Loan Market
  Asli Demirguc-Kunt, Balint Horvath, Harry Huizinga
• DP11795 - Rainfall Patterns and Human Settlement in Tropical Africa and Asia Compared. Did African Farmers Face Greater Insecurity?
  Ewout Frankema, Kostadis Papaioannou
• DP11794 - Political Determinants of Competition in the Mobile Telecommunication Industry
  Mara Faccio, Luigi Zingales
• DP11793 - How Antitrust Enforcement Can Spur Innovation: Bell Labs and the 1956 Consent Decree
  Thomas A. Fackler, Markus Nagler, Monika Schnitzer, Martin Watzinger
• DP11792 - Lower Oil Prices and the U.S. Economy: Is This Time Different?
  Christiane Baumeister, Lutz Kilian
• DP11791 - Trade and Manufacturing Jobs in Germany
  Wolfgang Dauth, Sebastian Findeisen, Jens Südekum
• DP11790 - Financial Constraints and Nominal Price Rigidities
  Almut Balleer, Nikolay Hristov, Dominik Menno
• DP11789 - Is Modern Technology Responsible for Jobless Recoveries?
  Georg Graetz, Guy Michaels
• DP11788 - Debt Overhang and the Macroeconomics of Carry Trade
  Egle Jakucionyte, Sweder van Wijnbergen
• DP11787 - Israel's Triumph over Inflation: The Long and Winding Road
  Assaf Razin
• DP11786 - Behavioral Economics and the Atheoretical Style
  Ran Spiegler
• DP11785 - Asymmetric information and the securitization of SME loans
  Ugo Albertazzi, Margherita Bottero, Leonardo Gambacorta, Steven Ongena
• DP11784 - The Economic Consequences of Family Policies: Lessons from a Century of Legislation in High-Income Countries
  Claudia Olivetti, Barbara Petrongolo
• DP11783 - Optimal Auction Design in a Common Value Model
  Dirk Bergemann, Benjamin A Brooks, Stephen Morris
• DP11782 - First Price Auctions with General Information Structures: Implications for Bidding and Revenue
  Dirk Bergemann, Benjamin A Brooks, Stephen Morris
• DP11781 - Moving on Towards a Workable Climate Regime
  Jaime de Melo
• DP11780 - Fiscal policy coordination in currency unions at the effective lower bound
  Thomas Hettig, Gernot Müller
• DP11779 - Child-Related Transfers, Household Labor Supply and Welfare
  Nezih Guner, Remzi Kaygusuz, Gustavo Ventura
• DP11778 - Why Does China Allow Freer Social Media? Protests versus Surveillance and Propaganda
  Bei Qin, David Strömberg, Yanhui Wu
• DP11777 - The Logic of Hereditary Rule: Theory and Evidence
  Timothy J. Besley, Marta Raynal-Querol
• DP11776 - The Impact of Export Promotion on Export Market Entry
  Annette Schminke, Johannes Van Biesebroeck
• DP11775 - Regression Discontinuity Design with Continuous Measurement Error in the Running Variable
  Laurent Davezies, Thomas Le Barbanchon
• DP11774 - On measuring welfare changes when varieties are endogenous
  Kristian Behrens, Yoshitsugu Kanemoto, Yasusada Murata
• DP11773 - Competition and hospital quality: Evidence from a French natural experiment
  Laurent Gobillon, Carine Milcent
• DP11772 - Confirmation Bias and Electoral Accountability
  Ben Lockwood
• DP11771 - The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study
  Ahmad Barirani, Randolph Sloof, Mirjam van Praag
• DP11770 - Early Cannabis Use and School to Work Transition of Young Men
  Jan C. van Ours, Jenny Williams
• DP11769 - Extracting Information or Resource? The Hotelling Rule Revisited under Asymmetric Information
  David Martimort, Jérôme Pouyet, Francesco Ricci
• DP11768 - Inheritance Flows in Switzerland, 1911-2011
  Marius Brülhart, Didier Dupertuis, Elodie Moreau
• DP11767 - Social Mobility among Christian Africans: Evidence from Anglican Marriage Registers in Uganda, 1895-2011
  Felix Meier zu Selhausen, Marco van Leeuwen, Jacob Weisdorf
• DP11766 - A Theory of Threshold Contracts
  Johannes Gerd Becker, Hans Gersbach
• DP11765 - Can grants to consortia spur innovation and science-industry collaboration? Regression-discontinuity evidence from Poland
  Miriam Bruhn, David J. McKenzie
• DP11764 - Can Enhancing the Benefits of Formalization Induce Informal Firms to Become Formal? Experimental Evidence from Benin
  Najy Benhassine, David J. McKenzie, Victor Pouliquen, Massimiliano Santini
• DP11763 - Network Capital
  Robert Akerlof, Richard Holden
• DP11762 - From Proof of Concept to Scalable Policies: Challenges and Solutions, with an Application
  Abhijit Banerjee, Rukmini Banerji, James Berry, Esther Duflo, Harini Kannan, Shobhini Mukerji, Marc Shotland, Michael Walton
• DP11761 - E-governance, Accountability, and Leakage in Public Programs: Experimental Evidence from a Financial Management Reform in India
  Abhijit Banerjee, Esther Duflo, Clément Imbert, Santhosh Mathew, Rohini Pande
• DP11760 - Winter is Coming: The Long-Run Effects of Climate Change on Conflict, 1400-1900
  Murat Iyigun, Nathan Nunn, Nancy Qian
• DP11759 - Top wealth shares in the UK over more than a century
  Facundo Alvaredo, Anthony B Atkinson, Salvatore Morelli
• DP11758 - Historical Roots of Political Extremism: The Effects of Nazi Occupation of Italy
  Nicola Fontana, Tommaso Nannicini, Guido Tabellini
• DP11757 - The local effects of an innovation: Evidence from the French fish market
  Laurent Gobillon, François-Charles Wolff
• DP11756 - Australian Exceptionalism? Inequality and Living Standards 1821-1871
  Laura Panza, Jeffrey G Williamson
• DP11755 - The Rise of American Ingenuity: Innovation and Inventors of the Golden Age
  Ufuk Akcigit, John Grigsby, Tom Nicholas
• DP11754 - Ambiguous Policy Announcements
  Claudio Michelacci, Luigi Paciello
• DP11753 - Price Dynamics with Customer Markets
  Luigi Paciello, Andrea Pozzi, Nicholas Trachter
• DP11752 - 'Decessit sine prole' - Childlessness, Celibacy, and Survival of the Richest in Pre-Industrial England
  David de la Croix, Eric Schneider, Jacob Weisdorf
• DP11751 - Killer Incentives: Status Competition and Pilot Performance during World War II
  Philipp Ager, Leonardo Bursztyn, Hans-Joachim Voth
• DP11750 - Shipping inside the Box: Containerization and Trade
  Kerem Cosar, Banu Demir Pakel
• DP11749 - Threshold-based forward guidance: hedging the zero bound
  Lena Boneva, Richard Harrison, Matt Waldron
• DP11748 - Currency Wars? Unconventional Monetary Policy Does Not Stimulate Exports
  Andrew K Rose
• DP11747 - Reputation, Regulation and the Collapse of International Capital Markets, 1920-1935
  Marc Flandreau
• DP11746 - Saving and Wealth Inequality
  Mariacristina De Nardi, Giulio Fella
• DP11745 - Uncertainty-driven business cycles: assessing the markup channel
  Benjamin Born, Johannes Pfeifer
• DP11744 - How Robust Is the Result That the Cost of "Leaning Against the Wind" Exceeds the Benefit? Response to Adrian and Liang
  Lars E O Svensson
• DP11743 - The Historical Evolution of the Wealth Distribution: A Quantitative-Theoretic Investigation
  Joachim Hubmer, Per Krusell, Anthony A. Smith Jr
• DP11742 - Distinguishing Constraints on Financial Inclusion and Their Impact on GDP and Inequality
  Era Dabla-Norris, Yan Ji, Robert M Townsend, Derya Filiz Unsal
• DP11741 - Maybe "honor thy father and thy mother": uncertain family aid and the design of social long term care insurance
  Chiara Canta, Helmuth Cremer, Firouz Gahvari
• DP11740 - Did the Renewable Fuel Standard Shift Market Expectations of the Price of Ethanol?
  Christiane Baumeister, Reinhard Ellwanger, Lutz Kilian
• DP11739 - Cost-Benefit Analysis of Leaning Against the Wind: Are Costs Larger Also with Less Effective Macroprudential Policy?
  Lars E O Svensson
• DP11738 - Intergenerational Mobility and Preferences for Redistribution
  Alberto Alesina, Stefanie Stantcheva, Edoardo Teso
• DP11737 - Economic Crises and the Eligibility for the Lender of Last Resort: Evidence from Nineteenth Century France
  Vincent Bignon, Clemens Jobst
• DP11736 - Can the Central Bank Alleviate Fiscal Burdens?
  Ricardo Reis