Outputs (648)

Disclosure of information under competition: An experimental study (2021)
Journal Article
Sheth, J. D. (2021). Disclosure of information under competition: An experimental study. Games and Economic Behavior, 129, 158-180. https://doi.org/10.1016/j.geb.2021.05.009

The theory of voluntary disclosure of information posits that market forces lead firms (senders) to disclose information through a process of unravelling. This prediction requires that consumers (receivers) hold correct beliefs and, in equilibrium, m... Read More about Disclosure of information under competition: An experimental study.

Foreign influence and domestic policy (2021)
Journal Article
Aidt, T. S., Albornoz, F., & Hauk, E. (2021). Foreign influence and domestic policy. Journal of Economic Literature, 59(2), 426-487. https://doi.org/10.1257/jel.20201481

In an interconnected world, economic and political interests inevitably reach beyond national borders. Since policy choices generate external economic and political costs, foreign state and non-state actors have an interest in influencing policy acti... Read More about Foreign influence and domestic policy.

Financial System Architecture and the Patterns of International Trade (2021)
Journal Article
Falvey, R., Defever, F., Bougheas, S., & Amissah, E. (2021). Financial System Architecture and the Patterns of International Trade. European Economic Review, 136, Article 103751. https://doi.org/10.1016/j.euroecorev.2021.103751

Countries differ in the extent to which their financial systems rely on banks or on financial markets. We offer a model featuring a complex relationship between countries’ financial system architecture and their comparative advantage. Countries with... Read More about Financial System Architecture and the Patterns of International Trade.

Have you Read This? An Empirical Comparison of the British REF Peer Review and the Italian VQR Bibliometric Algorithm (2021)
Journal Article
Checchi, D., Ciolfi, A., De Fraja, G., Mazzotta, I., & Verzillo, S. (2021). Have you Read This? An Empirical Comparison of the British REF Peer Review and the Italian VQR Bibliometric Algorithm. Economica, 88(352), 1107-1129. https://doi.org/10.1111/ecca.12373

This paper determines the assessment of the publications submitted to the UK research evaluation carried out in 2014, the REF, which would have resulted if they had been assessed with the bibliometric algorithm used by the Italian evaluation agency,... Read More about Have you Read This? An Empirical Comparison of the British REF Peer Review and the Italian VQR Bibliometric Algorithm.

CUSUM-Based Monitoring for Explosive Episodes in Financial Data in the Presence of Time-Varying Volatility (2021)
Journal Article
Astill, S., Harvey, D. I., Leybourne, S. J., Taylor, A. R., & Zu, Y. (2023). CUSUM-Based Monitoring for Explosive Episodes in Financial Data in the Presence of Time-Varying Volatility. Journal of Financial Econometrics, 21(1), 187-227. https://doi.org/10.1093/jjfinec/nbab009

We generalise the Homm and Breitung (2012) CUSUM-based procedure for the real-time detection of explosive autoregressive episodes in financial price data to allow for time-varying volatility. Such behaviour can heavily inflate the false positive rate... Read More about CUSUM-Based Monitoring for Explosive Episodes in Financial Data in the Presence of Time-Varying Volatility.

Fees, Reputation and Information Production in the Credit Rating Industry (2021)
Journal Article
Bizzotto, J., & Vigier, A. (2021). Fees, Reputation and Information Production in the Credit Rating Industry. American Economic Journal: Microeconomics, 13(2), 1-34. https://doi.org/10.1257/mic.20180170

We compare a credit rating agency's incentives to acquire costly information when it is only paid for giving favorable ratings to the corresponding incentives when the agency is paid upfront, i.e. irrespective of the ratings assigned. We show that, i... Read More about Fees, Reputation and Information Production in the Credit Rating Industry.

Testing for Common Trends in Nonstationary Large Datasets (2021)
Journal Article
Barigozzi, M., & Trapani, L. (2022). Testing for Common Trends in Nonstationary Large Datasets. Journal of Business and Economic Statistics, 40(3), 1107-1122. https://doi.org/10.1080/07350015.2021.1901719

We propose a testing-based procedure to determine the number of common trends in a large nonstationary dataset. Our procedure is based on a factor representation, where we determine whether there are (and how many) common factors (i) with linear tren... Read More about Testing for Common Trends in Nonstationary Large Datasets.

Effects of Passive Smoking on Prenatal and Infant Development: Lessons from the Past (2021)
Journal Article
Ciccarelli, C., Fraja, G. D., & Vuri, D. (2021). Effects of Passive Smoking on Prenatal and Infant Development: Lessons from the Past. Economics and Human Biology, 42, Article 101002. https://doi.org/10.1016/j.ehb.2021.101002

This paper studies the effect of passive smoking on child development. We use data from a time when the adverse effects of smoking on health were not known and when tobacco was not an inferior good. This allows us to disentangle the effect on foetuse... Read More about Effects of Passive Smoking on Prenatal and Infant Development: Lessons from the Past.

Commodity prices and banking crises (2021)
Journal Article
Eberhardt, M., & Presbitero, A. F. (2021). Commodity prices and banking crises. Journal of International Economics, 131, Article 103474. https://doi.org/10.1016/j.jinteco.2021.103474

Commodity prices are one of the most important drivers of output fluctuations in developing countries. We show that a major channel through which commodity price movements can affect the real economy is through their effect on banks' balance sheets a... Read More about Commodity prices and banking crises.

Labor market reform and innovation: Evidence from Spain (2021)
Journal Article
García-Vega, M., Kneller, R., & Stiebale, J. (2021). Labor market reform and innovation: Evidence from Spain. Research Policy, 50(5), Article 104213. https://doi.org/10.1016/j.respol.2021.104213

We analyze the effect of a labor market reform on firms' product innovation. The reform , which amounts to a natural experiment, differentially reduced firing costs for some firms, thereby lowering adjustment costs in the presence of demand uncertain... Read More about Labor market reform and innovation: Evidence from Spain.