CEPR Discussion Papers Online

The Centre for Economic Policy Research (CEPR) was founded in 1983 to enhance the quality of economic policy-making within Europe and beyond, by fostering high quality, policy-relevant economic research. Research by CEPR Research Fellows and Affiliates appears initially in the CEPR Discussion Paper series. These Discussion Papers are circulated widely to other specialists in the research and policy community so that the results of the research receive prompt and thorough professional scrutiny.