Discussion Papers

The purpose of the Discussion Papers series is to publish complete papers that report (even partial or initial) results from a research project (broadly defined). It is designed to be a fast-track procedure to allow authors to have some property rights on their research output and to send the papers out for comments. The ultimate goal is that after incorporating comments received on the DP, s/he will submit the paper to the CERGE-EI Working Papers Series.

Note that CERGE-EI Discussion Papers are not edited for language and do not receive copy editing or critical refereeing. They are distributed in a limited number of copies within CERGE-EI and to a selected number of external collaborators, who are working with similar topics.

As Discussion Papers are intended for internal distribution, there is no formal distribution mechanism for them outside of the CERGE-EI community. If you are interested in obtaining copies of Discussion Papers, please contact the authors of the papers themselves. Contact information for the authors, when available, is contained in the Discussion Paper lists. Copies are available for perusal in the CERGE-EI Library. Readers are asked to keep in mind the highly preliminary state of the research contained in most of the papers.


251. Sargsyan, Vahan. April 2018. "Integration of Migrants in European Countries: First and Second Generations."


250. Bauer, Michal, Jana Cahlíková, Dagmara Celik Katreniak, Julie Chytilová, Lubomír Cingl, and Tomáš Želinský. December 2017. "Group Membership Magnifies the Dark Side of Human Social Behavior."

249. Vardanyan, Suren. April 2017. "Pre Scheduled Announcement Volatility as a Proxy for Information Content."

248. Matysková, Ludmila. March 2017. "Bayesian Persuasion with Costly Information Acquisition."


247. Plazonja, Jelena. December 2016. "Persuading the Inattentive."

246. Cahlíková, Jana, Lubomír Cingl, and Ian Levely. March 2016. "How Stress Affects Performance and Competitiveness across Gender."

245. Vovchak, Tamara. March 2016. "Bank Credit, Liquidity Shocks and Firm Performance: Evidence from the Financial Crisis of 2007-2009."

244. Janhuba, Radek. January 2016. "Do Victories and Losses Mater? Effects of Football on Life Satisfaction."


243. Hanousek, Jan, Anastasiya Shamshur, and Jiří Trešl. December 2015. "The Market vs Book Leverage Ratio Dilemma: An Analysis of the Lead-Lag Relationship and Speed of Adjustment."

242. Hanousek, Jan, Anastasiya Shamshur, and Jiří Trešl. December 2015. "Capital Structure Changes after Acquisitions: The Case When Targets and Acquirers Remain Separate."

241. Mikulka, Jakub. December 2015. "The Impact of Mood on Bettors' Risk Aversion."

240. Matysková, Ludmila. December 2015. "Optimality of Two Prizes in Asymmetric Imperfectly Discriminating Contests."

239. Velev, Julian P., Brian C. Payne, Jiří Trešl, and  Wilfredo Toledo. December 2015. "Implied Volatility Around the World: Geographical Markets and Asset Classes."

238. Žúdel, Branislav. October 2015. "How Much Did We Inherit? Social Norms as a Legacy of Socialism."

237. Momotenko, Iryna. March 2015. "Investigating the Peer Effect of Corruption."

236. Lavička, Hynek, Tomáš Lichard, and Jan Novotný. March 2015. "Sand in the Wheels of a Race Car: The Impact of Tobin Taxes on High-Frequency Trading."

235. Vardanyan, Suren. March 2015. "Contagion in Experimental Financial Markets."

234. Kovač, Dejan. March 2015. "The Lasting Legacy of One’s Name: Stigmatic Effects of Names on Outcomes in the Adulthood."

233. Holets, Tetyana. March 2015. "The Impact of Participation in Community-Based Approach Development Programs on Social Capital and Economic Indicators of Rural Areas."

232. Hrendash, Taras and Andrei Matveenko. January 2015. "Choice Models which Generate Production Functions and Utility Functions."


231. Cahlíková, Jana. December 2014. "Does the Study Abroad Experience Affect Attitudes Towards Other Nationalities?"

230. Bartoš, Vojtěch. December 2014. "Sharing Norms during Seasonal Food Shortages: Experimental Evidence from Afghanistan."

229. Malečková, Jitka and Dejan Kovač. December 2014. "Identifying Flip Floppers: Changing Attitudes towards Suicide Bombing in the Middle East."

228. Hanousek, Jan and Anna Kochanova. November 2014. "Bribery Environment and Firm Performance: Evidence from Central and Eastern European Countries."

227. Federičová, Miroslava and Daniel Münich. June 2014. “Srovnání obliby školy a matematiky pohledem mezinárodních šetření.”

226. Katreniakova, Dagmara. March 2014. “Social Comparison, Rewards and Incentives to Learn: A Randomized Control Trial in Uganda.”

225. Kochubey, Tamara and Dorota Kowalczyk. March 2014. “The relationship between capital, liquidity and risk in commercial banks.”

224. Hanousek, Jan and Štěpán Jurajda. February 2014. “Corporate Names and Performance.”


223. Lichard, Tomáš and Branislav Žúdel. March 2013. “Every Vote Counts: Evidence on Corruption Culture Peer Effects from Representatives' Voting Attendance.”

222. Cingl, Lubomír and Jana Cahlíková. March 2013. “Risk Preferences under Acute Stress.”

221. Nikolovová, Pavla. March 2013. “Sourcing Patterns of FDI Activity and Their Impact on the Domestic Economy.”

220. Lavička, Hynek, Tomáš Lichard, and Jan Novotný. March 2013. “Sand in the Wheels or the Wheels in Sand? Tobin Taxes and Market Crashes.”


219. Alimukhamedova, Nargiza. October 2012. “Credit or Debit? Impact of Non-bank Microlending on Business and Welfare Improvement of Households.”

218. Moritz, Michael, Daniel Münich, Johannes Schäffler, and Martin Srholec. May 2012. “Regional Distribution of German-Czech Multinationals on the Domestic Market.”

217. Brushko, Iuliia. March 2012. “Financial Signaling and Market Perception of Earnings Announcements.”

216. Van Koten, Silvester. February 2012. “Do Emission Trading Schemes Facilitate Efficient Abatement Investments? An Experimental Study.”

215. Van Koten, Silvester. February 2012. “Abatement Efficiency in Experiments: Learning and Allocation Effects.”


214. Novotný, Jan. December 2011. “Panic at the Gates: The Effect of the Collapse of Lehman Brothers at the Prague Stock Exchange.”

213. Lamazoshvili, Beka. May 2011. “International Trade in Durables in the New Keynesian Model.”

212. Nikolovová, Pavla. March 2011. “The Impact of FDI on the Host Economy.”

211. Audzei, Volha. March 2011. “Investor Sentiment and Efficiency of Central Banks' Response to Financial Crisis.”

210. Feldman, Naomi E., and Peter Katuščák. January 2011. “Effects of Predictable Tax Liability Variation on Household Labor Income.”


209. Hanousek, Jan and František Kopřiva. December 2009. “Investment Recommendations and Stock Prices Movements.”

208. Jeong, Byeongju. December 2009. “Optimal Severance Payment: A Quantitive Exercise across Countries.”

207. Witzany, Jiří. November 2009. “Definition of Default and Quality of Scoring Functions.”

206. Hanousek, Jan, Evžen Kočenda, and Katarína Svítková. October 2009. “Corporate Philanthropy in the Czech and Slovak Republics.”

205. Maksudova, Nargiza. October 2009. “Contribution of Microfinance to Growth: Transmission Channel and the Ways to Test It.”

204. Novotný, Jan. October 2009. “Empirical Analysis of Price Jumps on the PSE and Visegrad Indexes.”

203. Lozovyi, Oleksandr. July 2009. “Cost of Fluctuations of External Debt in a Developing Economy.”

202. Dvořák, Pavel, and Jan Hanousek. May 2009. “The Determinants of Retail Bank Fees in Central Europe.”

201. Basl, Josef, Daniel Münich, and Oleg Sidorkin. May 2009. “Publikační výsledky české sociologie v odborných časopisech v posledních deseti letech.” (in Czech)

200. Lízal, Lubomír, Olga Aslanidi, and Martin Guzi. April 2009. “Vliv posilování koruny vůči Euru na českou ekonomiku a zaměstnanost v průmyslových odvětvích.” (in Czech)

199. Uzagalieva, Ainura, and António Menezes. April 2009. “The Poverty Effect of Remittance Flows: Evidence from Georgia.”

198. Hanousek, Jan, Evžen Kočenda, and Lubomír Lízal. March 2009. “Názory na další postupy v procesu zavedení eura (přínosy, rizika) s akcentem na pozici podnikatelského sektoru.” (in Czech)

197. Brázdik, František, and Michal Kejak. March 2009. “Notes on State Variables Choice and Timing in the Money-in-Utility Models.”


Individual researchers, as well as on-line and printed versions of the CERGE-EI Discussion Papers Series (including their dissemination) were supported from the following institutional grants:

  • Center of Advanced Political Economy Research [Centrum pro pokročilá politicko-ekonomická studia], No. LC542, (2005–2009)
  • Economic Impact of European Integration on the Czech Republic [Ekonomické dopady evropské integrace na ČR], No. MSM0021620846, (2005–2011)
  • Economic Aspects of EU and EMU Entry [Ekonomické aspekty vstupu do Evropské unie a Evropské měnové unie], No. AVOZ70850503, (2005–2010)
  • The Czech Republic and the Political Economy of European Integration [Česká republika a politická ekonomie evropské integrace], No. J13/98:116200001, (1999–2004)
  • The Economy in the Advanced Stage of Transformation [Ekonomika v období pokročilé transformace], No. A44/98:Z7-085-9-ii, (1999–2004)
  • Contemporary Czech Society and Issues of European Integration [Současná česká společnost a otázky evropské integrace], No. K8002117, (2001–2004)
  • National Identity and Cultural Heritage: Modern Systems of Collecting, Storing and Processing of Data [Národní identita a kulturní dědictví: moderní systémy sběru, uchování a zpracování informací], No. K8002119, (2001–2004)

Specific research support and/or other grants the researchers/publications benefited from are acknowledged in the Papers.