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Outputs (43)

International Trade Liberalization and Domestic Institutional Reform: Effects of WTO Accession on Chinese Internal Migration Policy (2024)
Journal Article
Tian, Y. (2024). International Trade Liberalization and Domestic Institutional Reform: Effects of WTO Accession on Chinese Internal Migration Policy. Review of Economics and Statistics, 106(3), 794-813. https://doi.org/10.1162/rest_a_01175

Economic institutions that impede factor mobility become more costly when an economy experiences substantial transitions such as trade liberalization. I study how trade triggers changes in labor institutions that regulate internal migration in the co... Read More about International Trade Liberalization and Domestic Institutional Reform: Effects of WTO Accession on Chinese Internal Migration Policy.

Inspecting cross-border macro-financial mechanisms (2024)
Journal Article
Gerba, E., Leiva-Leon, D., & Rubio, M. (2024). Inspecting cross-border macro-financial mechanisms. Journal of International Money and Finance, 145, Article 103094. https://doi.org/10.1016/j.jimonfin.2024.103094

We model structural time-varying macro-financial linkages between the U.S. and euro area using a large dataset for each region. We extract both real and financial cycles and identify shocks, using a factor model with drifting parameters. To interpret... Read More about Inspecting cross-border macro-financial mechanisms.

The role of payoff parameters for cooperation in the one-shot Prisoner's Dilemma (2024)
Journal Article
Gächter, S., Lee, K., Sefton, M., & Weber, T. O. (2024). The role of payoff parameters for cooperation in the one-shot Prisoner's Dilemma. European Economic Review, 166, Article 104753. https://doi.org/10.1016/j.euroecorev.2024.104753

The Prisoner's Dilemma is arguably the most important model of social dilemmas, but our knowledge about how its material payoff structure affects cooperation is incomplete. We investigate the effect of variation in material payoffs on cooperation in... Read More about The role of payoff parameters for cooperation in the one-shot Prisoner's Dilemma.

The Coholding Puzzle: New Evidence from Transaction-Level Data (2024)
Journal Article
Gathergood, J., & Olafsson, A. (2024). The Coholding Puzzle: New Evidence from Transaction-Level Data. Review of Financial Studies, https://doi.org/10.1093/rfs/hhae016

Why do individuals pay debt interest when they could use their savings to pay down the debt? We explore why individuals “cohold” debt and savings using detailed and highly disaggregated daily-level data on household finances. We find that coholding m... Read More about The Coholding Puzzle: New Evidence from Transaction-Level Data.

Tests for equal forecast accuracy under heteroskedasticity (2024)
Journal Article
Harvey, D. I., Harvey, D. I., Leybourne, S. J., Leybourne, S. J., & Zu, Y. (2024). Tests for equal forecast accuracy under heteroskedasticity. Journal of Applied Econometrics, 39(5), 850-869. https://doi.org/10.1002/jae.3050

Heteroskedasticity is a common feature in empirical time series analysis, and in this paper, we consider the effects of heteroskedasticity on statistical tests for equal forecast accuracy. In such a context, we propose two new Diebold–Mariano-type te... Read More about Tests for equal forecast accuracy under heteroskedasticity.

Investor Logins and the Disposition Effect (2024)
Journal Article
Quispe-Torreblanca, E., Gathergood, J., Loewenstein, G., & Stewart, N. (2025). Investor Logins and the Disposition Effect. Management Science, 71(1), 219–239. https://doi.org/10.1287/mnsc.2022.00359

Using data from an online brokerage, we examine the role of investor logins in trading behavior. We find that a new reference point is created when an investor logs in and views the investor’s portfolio. We observe this as a disposition effect on ret... Read More about Investor Logins and the Disposition Effect.

Macroprudential policies and Brexit: A welfare analysis (2024)
Journal Article
Rubio, M. (2024). Macroprudential policies and Brexit: A welfare analysis. Economic Inquiry, 62(3), 1246-1267. https://doi.org/10.1111/ecin.13214

Brexit will have implications on financial stability and the implementation of macroprudential policies. The United Kingdom (UK) will no longer be subject to the jurisdiction of the European Systemic Risk Board. This paper studies the welfare implica... Read More about Macroprudential policies and Brexit: A welfare analysis.

Sustaining Tanzania's economic development: A firm and household perspective (2024)
Book
Morrissey, O., Semboja, J., & Were, M. (Eds.). (2024). Sustaining Tanzania's economic development: A firm and household perspective. Oxford University Press. https://doi.org/10.1093/oso/9780192885746.001.0001

The book addresses the progress and resilience of firms and households in Tanzania. How has growth, access to (export) markets and interlinkages helped establish resilience for firms? What are the key variations in households’ income sources and how... Read More about Sustaining Tanzania's economic development: A firm and household perspective.

Sixty Years of the Voting Rights Act: Progress and Pitfalls (2024)
Journal Article
Bernini, A., Facchini, G., Tabellini, M., & Testa, C. (in press). Sixty Years of the Voting Rights Act: Progress and Pitfalls. Oxford Review of Economic Policy,

We review the literature on the effects of the 1965 Voting Rights Act (VRA), which removed formal restrictions to Black political participation. After a brief description of racial discrimination suffered by Black Americans since Reconstruction, we i... Read More about Sixty Years of the Voting Rights Act: Progress and Pitfalls.