Published articles in English 2018

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Published articles in English 2018 (alphabetical list in reference format)

Statsvetenskaplig tidskrift

A Plague on Both Your Houses: How Left and Right Undermined Moral Motivation in the Swedish School System

Johan Wennström

The potential for institutional arrangements such as financial incentives and other market mechanisms to undermine intrinsic, moral motivation among both “producers” and “consumers” of tax-financed welfare services is demonstrated by two new…


Activism, Strategic Trading, and Liquidity

Kerry Back, Pierre Collin‐Dufresne, Vyacheslav Fos, Tao Li and Alexander Ljungqvist

We analyze dynamic trading by an activist investor who can expend costly effort to affect firm value. We obtain the equilibrium in closed form for a general activism technology, including both binary and continuous outcomes. Variation in parameters can produce either…

Journal of Comparative Economics

A Sticky Trait: Social Trust Among Swedish Expatriates in Countries with Varying Institutional Quality

Andreas Bergh and Richard Öhrvall

Social trust is linked to many desirable economic and social outcomes. Using new data from a representative sample of 2668 Swedish expatriates, we examine the robustness of high social trust in countries with different levels of institutional quality. The results…

Labour Economics

Payroll Taxes and Youth Labor Demand

Johan Egebark and Niklas Kaunitz

In 2007–09, the Swedish employer-paid payroll tax was cut on a large scale for young workers, substantially reducing labor costs for this group. Using this variation in payroll taxes across ages, we estimate a significant, but small, impact both on employment…

Regional Science Policy & Practice

Urban Preferences, Amenities and Age: Exploring the Spatial Distribution of Age in Stockholm from 1991 to 2011

Martin Andersson, Johan P. Larsson and Joakim Wernberg

Cities exhibit a rich and complex heterogeneity in people and activities. This poses a sizable challenge for planners when planning new neighbourhoods or the reconstruction of old ones as well as when considering the allocation of supply of and demand for amenities,…

European Journal of Operational Research

On Supply-Function Equilibria in Radial Transmission Networks

Pär Holmberg and Andrew Philpott

Transmission constraints limit competition and arbitrageurs’ possibilities of exploiting price differences between commodities in neighbouring markets. We analyze radial transmission-constrained networks with local demand shocks, where spatially distributed…

Experimental Economics

Liking What Others “Like”: Using Facebook to Identify Determinants of Conformity

Johan Egebark and Mathias Ekström

In this paper we explore the micro-level determinants of conformity. Members of the social networking service Facebook express positive support to content on the website by clicking a Like button. We set up a natural field experiment to test whether users are more…

RAND Journal of Economics

Comparing Auction Designs Where Suppliers Have Uncertain Costs and Uncertain Pivotal Status

Pär Holmberg and Frank A. Wolak

We analyze how market design influences bidding in multiunit procurement auctions where suppliers have asymmetric information about production costs. Our analysis is particularly relevant to wholesale electricity markets, because it accounts for the risk that a…

De Economist

Non-standard Employment in Sweden

Per Skedinger

In Sweden, as in many other countries, marginal groups tend to be overrepresented in non-standard employment. A decomposition of the employment rate of full-time workers on permanent contracts reveals that non-standard employment contributes to a substantially weaker…

Economic Geography

Industrial Diversification in Europe: The Differentiated Role of Relatedness

Jing Xiao, Ron Boschma and Martin Andersson

ifo DICE Report

Inheritance and Wealth Taxation in Sweden

Daniel Waldenström

Economics Letters

Are Foreign Private Equity Buyouts Bad for Workers?

Martin Olsson and Joacim Tåg

The media often cast foreign private equity firms as villains who gamble with local jobs. We use detailed registry data from Sweden to show that foreign buyouts have not affected workers’ labor market outcomes. But domestic buyouts have. They have increased…

Journal of Financial Economics

Are CEOs Born Leaders? Lessons from Traits of a Million Individuals

Renée Adams, Matti Keloharju and Samuli Knüpfer

What makes a successful CEO? We combine a near-exhaustive sample of male CEOs from Swedish companies with data on their cognitive and noncognitive ability and height at age 18. CEOs differ from other high-skill professions most in noncognitive ability. The median…

Prosperity through Trade and Structural Reform – Festschrift in Honour of Per Magnus Wijkman

A Reform Strategy for a More Innovative and Entrepreneurial Europe

Magnus Henrekson

The European Union suffers from an innovation deficit, which must be remedied if the EU is to improve the quality of life of its citizens and remain competitive in the global marketplace. In order to do so, more productive entrepreneurship is required. This article…

European Journal of Political Economy

Why Do Governments Call a State of Emergency? On the Determinants of Using Emergency Constitutions

Christian Bjørnskov and Stefan Voigt

States of emergency do not only imply a significant change in the balance of powers between the three branches of government, they are also very frequently declared: between 1985 and 2014, at least 137 countries were subject to at least one such event. This…

Journal of Political Economy

Social Norms in Social Insurance

Assar Lindbeck and Mats Persson

We analyze how insurance arrangements, labor supply, moral hazard, and outright cheating are affected by social norms. One question is under what conditions norms may improve social welfare. Another is under what conditions people should be allowed to opt out of…

International Journal of Constitutional Law

The Architecture of Emergency Constitutions

Christian Bjørnskov and Stefan Voigt

Nine of ten countries currently have emergency provisions written into their constitutions, here simply referred to as emergency constitutions. The nature of these provisions remains poorly understood. We therefore aim at providing answers to two questions: (i) how…

Elgar Companion to Social Capital and Health

Trust Promotes Health: Addressing Reverse Causality by Studying Children of Immigrants

Martin Ljunge

Review of Income and Wealth

Wealth Inequality in Sweden: What Can We Learn from Capitalized Income Tax Data?

Jacob Lundberg and Daniel Waldenström

This paper presents new estimates of wealth inequality in Sweden during 2000–2012, linking wealth register data up to 2007 and individually capitalized wealth based on income and property tax registers for the period thereafter when a repeal of the wealth tax…

International Journal of Management Reviews

Performance Measurement and Management Systems: A Perspective from Complexity Theory

Simon Okwir, Sai Nudurupati , Matías Ginieis and Jannis Angelis

Complexity negatively impacts the process of continually improving performance management systems (PMSs). The extant PMS literature considers complexity to be a result of the external environment rather than a user response to that environment. However, this paper…

Journal of Economic History

Capital Shares and Income Inequality: Evidence from the Long Run

Erik Bengtsson and Daniel Waldenström

This article studies the long-run relationship between the capital share in national income and top personal income shares. Using a newly constructed historical cross-country database on capital shares and top income data, we find evidence on a strong, positive link…

Papers in Regional Science

Retail Productivity: The Effects of Market Size and Regional Hierarchy

Özge Öner

How important is regional hierarchy for retailers’ productivity? This paper investigates the determinants of independent retailers’ productivity in Sweden between 2002 and 2008 with respect to market size and regional hierarchy. Using an accessible market…

Energy Economics

Electricity Auctions in the Presence of Transmission Constraints and Transmission Costs

Mario Blázquez de Paz

Electricity markets are moving through integration around the world. However, our understanding of those markets is still limited. I characterize the Bertrand equilibrium in a discriminatory-price electricity auction when suppliers submit a single offer price for…

Journal of Public Economics

Inheritance and Wealth Inequality: Evidence from Population Registers

Mikael Elinder, Oscar Erixson and Daniel Waldenström

This paper uses population register data on inheritances and wealth in Sweden to estimate the causal impact of inheritances on wealth inequality. We find that inheritances reduce wealth inequality, as measured by the Gini coefficient or top wealth shares, but that…

Journal of Institutional Economics

The Hayek–Friedman Hypothesis on the Press: Is There an Association between Economic Freedom and Press Freedom?

Christian Bjørnskov

The Hayek–Friedman hypothesis states that economic freedom is causally associated with stable democracy. I test a particular element of the hypothesis focusing on press freedom, which is arguably a necessary component of any democratic polity. Combining the…

Sveriges Riksbank and the History of Central Banking


Rodney Edvinsson, Tor Jacobson and Daniel Waldenström

Written in celebration of its 350th anniversary in 2018, this book details the history of the central bank of Sweden, Sveriges Riksbank, as presented by Klas Fregert. It relates the bank's history to the development of other major central banks around the…

Trust in the EU at Challenging Times: Interdisciplinary European Studies

Trust in the European Union: What Is It and How Does It Matter?

Antonina Bakardjieva Engelbrekt, Niklas Bremberg, Anna Michalski and Lars Oxelheim

Bakardijeva Engelbrekt, Bremberg, Michalski, and Oxelheim introduce the concept of trust in the European Union by pointing out its elusive character comprising both interpersonal relations and attitudes towards organizations and broad-based institutions in society.…

Hybridity in the Governance and Delivery of Public Services: Studies in Public and Non-Profit Governance, Volume 7

Issues on Transparency, Accountability and Control in Hybrid organisations: The Case of Enterprises Owned by Local Government

Gissur Ó. Erlingsson, Anna Thomasson and Richard Öhrvall

American Economic Journal: Microeconomics

Multiple Activities in Networks

Ying-Ju Chen, Yves Zenou and Junjie Zhou

We consider a network model where individuals exert efforts in two types of activities that are interdependent. These activities can be either substitutes or complements. We provide a full characterization of the Nash equilibrium of this game for any network…

Journal of Economic Behavior & Organization

Seasonal Altruism: How Christmas Shapes Unsolicited Charitable Giving

Mathias Ekström

Christmas is a holiday of Christian origin with traditions that emphasize prosocial behavior, including charitable giving, but does it actually make people more altruistic? Responding to this question poses a challenge because of the confounding factors of charitable…

Small Business Economics

Stock Option Taxation: A Missing Piece in European Innovation Policy?

Magnus Henrekson and Tino Sanandaji

Small Business Economics

Varieties of Entrepreneurship: Exploring the Institutional Foundations of Different Entrepreneurship Types through ‘Varieties-of-Capitalism’ Arguments

Selin Dilli, Niklas Elert and Andrea M. Herrmann

Small Business Economics

Financial and Institutional Reforms for an Entrepreneurial Society

Claire Economidou, Luca Grilli, Magnus Henrekson and Mark Sanders

Economic Journal

Intergenerational Wealth Mobility and the Role of Inheritance: Evidence from Multiple Generations

Adrian Adermon, Mikael Lindahl and Daniel Waldenström

This study estimates intergenerational wealth correlations across up to four generations and examines the degree to which the wealth association between parents and children can be explained by inheritances. Using a Swedish data set with newly hand‐collected data on…

International Review of Entrepreneurship

Schumpeterian Entrepreneurship in Europe Compared to Other Industrialized Regions

Magnus Henrekson and Tino Sanandaji

Cross-country comparisons of entrepreneurship are difficult due to the lack of standard empirical definitions of entrepreneurship. Measures focusing on small business activity and self-employment suggest that Europe has the same or higher rates of entrepreneurship…

Games and Economic Behavior

Price Competition in Product Variety Networks

Philip Ushchev and Yves Zenou

We develop a product-differentiated model where the product space is a network defined as a set of varieties (nodes) linked by their degrees of substitutability (edges). We also locate consumers into this network, so that the location of each consumer (node)…

Trust in the EU at Challenging Times: Interdisciplinary European Studies

Is Migration Threatening Social Trust in Europe?

Andreas Bergh

Bergh considers the relationship between migration and interpersonal trust in the European Union. Interpersonal trust, Bergh avers, is an important foundation for a well-functioning society. The question is how interpersonal trust is affected by increased migration…

Energy Journal

Cross-Border Exchange and Sharing of Generation Reserve Capacity

Fridrik M. Baldursson, Ewa Lazarczyk, Marten Ovaere and Stef Proost

This paper develops a stylized model of cross-border balancing. We distinguish three degrees of cooperation: autarky, reserves exchange and reserves sharing. The model shows that TSO cooperation reduces costs. The gains of cooperation increase with cost asymmetry and…

Tijdschrift voor Economische en Sociale Geografie

Who Works Longer—and Why? Regional and Individual Characteristics in the Timing of Retirement

Johan Klaesson, Esteban Ochoa Lopez and Özge Öner

Labour Economics

Education and Criminal Behavior: Insights from an Expansion of Upper Secondary School

Olof Åslund, Hans Grönqvist, Caroline Hall and Jonas Vlachos

We study the impact on long and short run criminal behavior from a large scale Swedish reform of vocational upper secondary education, extending programs and adding more general theoretical content. The reform directly concerns age groups where criminal activity is…

Journal of Regional Science

Human Capital Sorting: The "When" and "Who" of the Sorting of Educated Workers to Urban Regions

Lina Ahlin, Martin Andersson and Per Thulin

The sorting of high‐ability workers is often advanced as one source of spatial disparities in economic outcomes. There are still few papers that analyze when human capital sorting occurs and whom it involves. Using data on 16 cohorts of university graduates in…

AEA Papers and Proceedings

A Cross-Country Comparison of Dynamics in the Large Firm Wage Premium

Emanuele Colonnelli, Joacim Tåg, Michael Webb and Stefanie Wolter

Journal of Happiness Studies

Do Equal Rights for a Minority Affect General Life Satisfaction?

Niclas Berggren, Christian Bjørnskov and Therese Nilsson

While previous research examines how institutions matter for general life satisfaction and how specific institutions embodying equal rights for gay people matter for the life satisfaction of gays, we combine these two issues to analyze how the latter type of…

Journal of Evolutionary Economics

When is Your Experience Valuable? Occupation-Industry Transitions and Self-Employment Success

Sierdjan Koster and Martin Andersson

The literature on employee spinoffs has, for a long time, stressed the importance of industry-specific skills and experiences in explaining the success of new firms. We argue that employees also develop skills that are associated with their occupation within an…

Journal of Economic Theory

Cultural Leader and the Dynamics of Assimilation

Thierry Verdier and Yves Zenou

This paper studies the population dynamics of cultural traits in a model of intergenerational cultural transmission with a perfectly-forward looking cultural leader. We show that there exists a threshold size in terms of population above which the cultural leader…

Journal of Urban Economics

Urban Spatial Structure, Employment and Social Ties

Pierre M. Picard and Yves Zenou

Consider a model where workers from the majority and the minority group choose both their residential location (geographical space) and the intensity of their social interactions (social space). We demonstrate under which condition one group resides close to the job…

International Economic Review

Entry Regulations, Welfare and Determinants of Market Structure

Florin Maican and Matilda Orth

Welfare effects of entry regulations are theoretically ambiguous in differentiated product markets. We use a dynamic oligopoly model of entry and exit with store‐type differentiation and static price setting to evaluate how entry regulations affect long‐run…

Energy Economics

Equilibrium Supply Security in a Multinational Electricity Market with Renewable Production

Thomas Tangerås

The European Union: Facing the Challenge of Multiple Security Threats

The Threats Against Innovation-Based Growth in the EU

Roger Svensson

The European Union: Facing the Challenge of Multiple Security Threats

The EU and the Growing Number of Complex security Threats

Antonina Bakardjieva Engelbrekt, Anna Michalski, Niklas Nilsson and Lars Oxelheim

Economics Letters

Market Power and Forward Prices

Keith Ruddell, Anthony Downward and Andy Philpott

Our model of strategic behavior in sequential markets exhibits a persistent forward price premium. This premium is not susceptible to arbitrage by speculators on the forward market, since purchasers prefer forward contracts backed by producers with market…

American Economic Review

Family Ruptures, Stress, and the Mental Health of the Next Generation: Reply

Petra Persson and Maya Rossin-Slater

Persson and Rossin-Slater (2018) find that prenatal exposure to family ruptures affects childhood and adult mental health, as well as infant physical health. We compare children whose relatives die within 280 days post-conception to children whose relatives die in…

Behavioural Public Policy

Attention Manipulation and Information Overload

Petra Persson

Limits on consumer attention give firms incentives to manipulate prospective buyers’ allocation of attention. This paper models such attention manipulation and shows that it limits the ability of disclosure regulation to improve consumer welfare. Competitive…

American Economic Review

Family Ruptures, Stress, and the Mental Health of the Next Generation

Petra Persson and Maya Rossin-Slater

This paper studies how in utero exposure to maternal stress from family ruptures affects later mental health. We find that prenatal exposure to the death of a maternal relative increases take-up of ADHD medications during childhood and anti-anxiety and depression…

Journal of Economic Theory

Price Instability in Multi-Unit Auctions

Edward Anderson and Pär Holmberg

We consider a uniform-price procurement auction with indivisible units and private independent costs. We find an explicit solution for a Bayesian Nash equilibrium, which is unique if demand shocks are sufficiently evenly distributed. The equilibrium has a price…

Journal of Rural Studies

Rural to Urban Long-Distance Commuting in Sweden: Trends, Characteristics and Pathways

Martin Andersson, Niclas Lavesson and Thomas Niedomysl

The rise of ICT and the shift toward jobs with more flexibility in working hours and places of work sparked popular debates about potential for a ‘rural renaissance’. A key argument was that there are increasing possibilities to live in the countryside…

Labour Economics

Seniority Rules, Worker Mobility and Wages: Evidence from Multi-Country Linked Employer-Employee Data

Petri Böckerman, Per Skedinger and Roope Uusitalo

We construct multi-country employer-employee data to examine the consequences of last-in, first-out rules. We identify the effects by comparing worker exit rates between different units of the same firms operating in Sweden and Finland, two countries that have…

Bridging the Prosperity Gap in the EU: The Social Challenge Ahead

Analysing the Prosperity Gap: The Economic, Legal, and Political Challenges Facing the EU

Ulf Bernitz, Moa Mårtensson, Lars Oxelheim and Thomas Persson

In this chapter we describe the EUs social dimension and its development aimed at an understanding of the prosperity gap in the EU. We identify the new social challenges the Union faces in the wake of the three ongoing intertwined developments: the financial and…

Journal of Applied Econometrics

Multivariate Choice and Identification of Social Interactions

Ethan Cohen-Cole, Xiaodong Liu and Yves Zenou

This paper considers the identification of social interaction effects in the context of multivariate choices. First, we generalize the theoretical social interaction model to allow individuals to make interdependent choices in different activities. Based on the…

Bridging the Prosperity Gap in the EU: The Social Challenge Ahead

The Role of Trust in Explaining Health and Wealth Gaps in the EU

Martin Ljunge

In this chapter I highlight how new research can provide answers to how gaps in health and wealth can be reduced. The focus is on an approach that can identify the causal direction of the connections between trust, health, and prosperity. I find clear evidence that…


Does Financial Deregulation Boost Top Incomes? Evidence from the Big Bang

Julia Tanndal and Daniel Waldenström

We estimate the impact of financial market deregulation on top income shares. Using the novel synthetic control method to investigate the two ‘Big Bangs’ of financial deregulation, the UK in 1986 and Japan in 1997–9, we find that pre-tax top income…

Antitrust Chronicle

Private Equity Buyouts: Anti- or Pro-Competitive?

Pehr-Johan Norbäck, Lars Persson and Joacim Tåg

Private equity firms (“PE firms”) have become common as owners of established firms in concentrated markets. We discuss the antitrust implications of an active PE market and whether there are any special characteristics of PE ownership that are important…

Economics of Energy & Environmental Policy

Energy System Transition in the Nordic Market: Challenges for Transmission Regulation and Governance

Anna Grigoryeva, Mohammad R. Hesamzadeh and Thomas Tangerås

The energy system in the Nordic countries faces changes driven by increasing integration with the rest of Europe and changes to the generation mix. These developments pose challenges with respect to future network development and operation. We focus on three major…

Economics Letters

Who Creates Jobs and Who Creates Productivity? Small versus Large versus Young versus Old

Fredrik Heyman, Pehr-Johan Norbäck and Lars Persson

We propose a new method to analyze employment and productivity dynamics in a consistent way. Using Swedish data we find that net jobs were mainly created in young, small firms and productivity gains were mainly created in large old firms.

Economics Letters

Threatening to Buy: Private Equity Buyouts and Antitrust Policy

Pehr-Johan Norbäck, Lars Persson and Joacim Tåg

Private equity firms (PE firms) have become common owners of established firms in concentrated markets. We show that the threat of a PE acquisition can trigger incumbent mergers in an otherwise merger-stable industry. This can help antitrust authorities maximize…

International Review of Economics & Finance

Does the Debt Tax Shield Distort Ownership Efficiency?

Pehr-Johan Norbäck, Lars Persson and Joacim Tåg

The tax laws of most developed countries are debt biased since firms can deduct interest on debt but not on equity. This bias is known to distort investment decisions. However, less is known about how the debt tax shield affects the ownership of assets when bidders…

World Economy

Do Swedish Multinationals Pay Less in Taxes than Domestic Firms?

Åsa Hansson, Karin Olofsdotter and Susanna Thede

In recent years, there has been growing concern that multinational enterprises (MNEs) engage in strategic tax planning in order to shift profits to low-tax jurisdictions. This common perception is generally confirmed by empirical evidence, which is foremost provided…

Journal of Behavioral and Experimental Economics

Accounting for Context: Separating Monetary and (Uncertain) Social Incentives

Andreas Bergh and Philipp C. Wichardt

This paper proposes a simple framework to model social preferences in a way that explicitly separates economic incentives from social (context) effects and allows for uncertainty also about the latter. Moreover, it allows non-economic cost associated with the…

Journal of World Business

The Institutional Determinants of Private Equity Involvement in Business Groups – The Case of Africa

Bruce Hearn, Lars Oxelheim and Trond Randøy

This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We…

Economics & Human Biology

The ‘Healthy Worker Effect’: Do Healthy People Climb the Occupational Ladder?

Joan Costa Font and Martin Ljunge

The association between occupational status and health has been taken to reveal the presence of occupational health inequalities. However, that interpretation assumes no influence of health status in climbing the occupational ladder. This paper documents evidence of…

Journal of Public Economics

Employment Protection and Labor Productivity

Carl Magnus Bjuggren

Current theoretical predictions of how employment protection affects firm productivity are ambiguous. In this paper, I study the effect of employment protection rules on labor productivity using Swedish register data. A reform of employment protection rules in 2001…

Economics of Education Review

Smart but Unhappy: Independent-school Competition and the Wellbeing-efficiency Trade-off in Education

Gabriel Heller Sahlgren

We study whether independent-school competition involves a trade-off between pupil wellbeing and academic performance. To test this hypothesis, we analyse data covering pupils across the OECD, exploiting historical Catholic opposition to state schooling for exogenous…

Industrial and Corporate Change

Resilience in the European Union: The Effect of the 2008 Crisis on the Ability of Regions in Europe to Develop New Industrial Specializations

Jing Xiao, Ron Boschma and Martin Andersson

This article adopts an evolutionary framework to the study of industrial resilience. We present a study on European regions and assess the extent to which the capacity of their economies to develop new industrial specializations is affected by the global economic…

Primary Health Care Research & Development

Process Measures or Patient Reported Experience Measures (PREMs) for Comparing Performance Across Providers? A Study of Measures Related to Access and Continuity in Swedish Primary Care

Anna Häger Glenngård and Anders Anell

To study (a) the covariation between patient reported experience measures (PREMs) and registered process measures of access and continuity when ranking providers in a primary care setting, and (b) whether registered process measures or PREMs provided more or less…

Mathematical Social Sciences

Robustness to Strategic Uncertainty in the Nash Demand Game

Ola Andersson, Cédric Argenton and Jörgen W. Weibull

This paper studies the role of strategic uncertainty in the Nash demand game. A player’s uncertainty about another player’s strategy is modeled as an atomless probability distribution over that player’s strategy set. A strategy profile is robust to…

Venture Capital

Stock Option Taxation and Venture Capital Activity: A Cross-Country Study

Magnus Henrekson and Tino Sanandaji

The VC sector is interesting both in its own right and as a proxy for entrepreneurial finance more broadly. We highlight the tax treatment of stock options as an important factor for variations in the size of the VC sector. VC often relies on option-based contracts…

Elgar Companion to

Social Capital and Health

Martin Ljunge okt 2018.jpg

Martin Ljunge, IFN, is the author of a chapter, "Trust promotes health: addressing reverse causality by studying children of immigrants", in a new book edited by Sherman Folland and Eric Nauenberg. The cutting edge of research is presented, covering the ever-expanding social capital field.

About the book


Seminars organized by IFN


To present ongoing research informal brown-bag seminars are held on Mondays at 11:30 am. This is an opportunity for IFN researchers to test ideas and results.

Academically oriented seminars are most of the time held on Wednesdays at 10 am. At these events researchers from IFN and other institutions present their research.

In addition, IFN organizes seminars open to the public. Topics for these are derived from the IFN research.

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