Skip to main content

Research Repository

See what's under the surface


Do university technology transfers increase firms' innovation? (2020)
Journal Article
García-Vega, M., & Vicente-Chirivella, Ó. (2020). Do university technology transfers increase firms' innovation?. European Economic Review, 123, https://doi.org/10.1016/j.euroecorev.2020.103388

We investigate how technology transfers from universities to private firms influence firm innovativeness. Using data on R&D acquisitions from universities of more than 10,000 Spanish firms for the period 2005-2013 and applying propensity score matchi... Read More about Do university technology transfers increase firms' innovation?.

Exchange Rate Flexibility: How Should We Measure It? (2020)
Journal Article
Bleaney, M., & Tian, M. (2020). Exchange Rate Flexibility: How Should We Measure It?. Open Economies Review, https://doi.org/10.1007/s11079-019-09577-z

This paper first examines some recent exchange rate classification schemes. There is little evidence of a trend towards greater agreement between schemes. There is a probability of between 16 and 28 percent that a peg in one classification scheme is... Read More about Exchange Rate Flexibility: How Should We Measure It?.

Cross-Country Spillovers from Macroprudential Regulation: Reciprocity and Leakage (2020)
Journal Article
Rubio, M. (2020). Cross-Country Spillovers from Macroprudential Regulation: Reciprocity and Leakage. Journal of International Money and Finance, https://doi.org/10.1016/j.jimonfin.2019.102134

In a globally interconnected banking system, there can be spillovers from domestic macroprudential policies to foreign banks and vice versa, for example, through the presence of foreign branches in the domestic economy. The lack of reciprocity of som... Read More about Cross-Country Spillovers from Macroprudential Regulation: Reciprocity and Leakage.

How Hard Is It to Maximize Profit? Evidence from a 19th century Italian State Monopoly (2020)
Journal Article
Ciccarelli, C., De Fraja, G., & Tiezzi, S. (2020). How Hard Is It to Maximize Profit? Evidence from a 19th century Italian State Monopoly. Oxford Economic Papers, https://doi.org/10.1093/oep/gpz076

In this paper we study the ability of the 19th century Italian government to choose profit maximizing prices for a multiproduct monopolist. We use very detailed historical data on the tobacco consumption in 62 Italian provinces from 1871 to 1888 to e... Read More about How Hard Is It to Maximize Profit? Evidence from a 19th century Italian State Monopoly.

The Australian Real‐Time Fiscal Database: An Overview with Illustrations of Its Use in Analysing Fiscal Policy (2019)
Journal Article
Lee, K., Morley, J., Shields, K., & Tan, M. S. (2019). The Australian Real‐Time Fiscal Database: An Overview with Illustrations of Its Use in Analysing Fiscal Policy. Economic Record, https://doi.org/10.1111/1475-4932.12509

This paper describes a scal database for Australia including measures of government spending, revenue, deecits, debt and various sub-aggregates as initially published and subsequently revised. The data vintages are collated from various sources and p... Read More about The Australian Real‐Time Fiscal Database: An Overview with Illustrations of Its Use in Analysing Fiscal Policy.

Moderating Loss Aversion: Loss Aversion Has Moderators, But Reports of its Death are Greatly Exaggerated (2019)
Journal Article
Herrmann, A., Mrkva, K., Gächter, S., & Johnson, E. J. (2019). Moderating Loss Aversion: Loss Aversion Has Moderators, But Reports of its Death are Greatly Exaggerated. Journal of Consumer Psychology, https://doi.org/10.1002/jcpy.1156

Loss aversion, the principle that losses impact decision making more than equivalent gains, is a fundamental idea in consumer behavior and decision making, though its existence has recently been called into question. Across five unique samples (Ntota... Read More about Moderating Loss Aversion: Loss Aversion Has Moderators, But Reports of its Death are Greatly Exaggerated.

How Do Consumers Avoid Penalty Fees? Evidence From Credit Cards (2019)
Journal Article
Gathergood, J., Sakaguchi, H., Stewart, N., & Weber, J. (in press). How Do Consumers Avoid Penalty Fees? Evidence From Credit Cards. Management Science,

Using data from multiple card issuers, we show that the most common penalty fee type incurred by credit card holders-late payment fees-declines sharply over the first few months of card life. This phenomenon is wholly due to some consumers adopting a... Read More about How Do Consumers Avoid Penalty Fees? Evidence From Credit Cards.

Subsidies, spillovers and exports (2019)
Journal Article
Girma, S., Görg, H., & Stepanok, I. (2020). Subsidies, spillovers and exports. Economics Letters, 186, https://doi.org/10.1016/j.econlet.2019.108840

© 2019 Elsevier B.V. We ask whether production related subsidies have a role to play in explaining Chinese firms’ export performance. We, firstly, implement an estimation approach that allows for both direct and indirect (“spillover”) effects of the... Read More about Subsidies, spillovers and exports.

The political economy of trade and migration: Evidence from the U.S. Congress (2019)
Journal Article
Conconi, P., Facchini, G., Steinhardt, M. F., & Zanardi, M. (2019). The political economy of trade and migration: Evidence from the U.S. Congress. Economics and Politics,

We compare the drivers of U.S. congressmen's votes on trade and migration reforms since the 1970's. Standard trade theory suggests that trade reforms that lower barriers to goods from less skilled-labor abundant countries and migration reforms that l... Read More about The political economy of trade and migration: Evidence from the U.S. Congress.

Macroprudential policy under incomplete information (2019)
Journal Article
Rubio, M., & Unsal, D. F. (2019). Macroprudential policy under incomplete information. European Journal of Finance, https://doi.org/10.1080/1351847X.2019.1679209

In this paper, we use a DSGE model to study the passive and time-varying implementation of macroprudential policy when policy-makers have noisy and lagged data. The model features an economy with two agents; households and entrepreneurs. Entrepreneur... Read More about Macroprudential policy under incomplete information.

Are Victims Truly Worse Off in the Presence of Bystanders? Revisiting the Bystander Effect (2019)
Journal Article
Fromell, H., Nosenzo, D., Owens, T., & Tufano, F. (2019). Are Victims Truly Worse Off in the Presence of Bystanders? Revisiting the Bystander Effect. Revue Economique, 70(6), 927-944. https://doi.org/10.3917/reco.706.0927

Previous studies have shown that individuals are less likely to help a person in need when there are “bystanders” present who can also offer help. We designed an experiment to re-examine this “bystander effect” using modified dictator games. We find... Read More about Are Victims Truly Worse Off in the Presence of Bystanders? Revisiting the Bystander Effect.

Social comparisons in job search * (2019)
Journal Article
Fu, J., Sefton, M., & Upward, R. (2019). Social comparisons in job search *. Journal of Economic Behavior and Organization, 168, 338-361. https://doi.org/10.1016/j.jebo.2019.10.013

Using a laboratory experiment we examine how social comparisons affect behavior in a sequential search task. In a control treatment subjects search in isolation, while in two other treatments subjects get feedback on the search decisions and outcomes... Read More about Social comparisons in job search *.

Exchange Rate and Inflation Dynamics in a Resource Rich Setting: The Case of Zambia (2019)
Journal Article
Roger, L., Smith, G., & Morrissey, O. (2019). Exchange Rate and Inflation Dynamics in a Resource Rich Setting: The Case of Zambia. South African Journal of Economics, 87(4), 490-514. https://doi.org/10.1111/saje.12236

This paper investigates the relationship between copper prices, the exchange rate and consumer price inflation in Zambia using a structural vector autoregression with quarterly data for 1995–2014 and a combination of sign and zero restrictions to ide... Read More about Exchange Rate and Inflation Dynamics in a Resource Rich Setting: The Case of Zambia.

People prefer coordinated punishment in cooperative interactions (2019)
Journal Article
Molleman, L., Kölle, F., Starmer, C., & Gächter, S. (2019). People prefer coordinated punishment in cooperative interactions. Nature Human Behaviour, 3, 1145–1153. https://doi.org/10.1038/s41562-019-0707-2

Human groups can often maintain high levels of cooperation despite the threat of exploitation by individuals who reap the benefits of cooperation without contributing to its costs1,2,3,4. Prominent theoretical models suggest that cooperation is parti... Read More about People prefer coordinated punishment in cooperative interactions.

Labor Responses, Regulation and Business Churn (2019)
Journal Article
Aloi, M., Dixon, H., & Savagar, A. (in press). Labor Responses, Regulation and Business Churn. Journal of Money, Credit and Banking,

We develop a model of sluggish firm entry to explain short-run labor responses to technology shocks. We show that the labor response to technology and its persistence depend on the degree of returns to labor and the rate of firm entry. Existing empir... Read More about Labor Responses, Regulation and Business Churn.

Reexamining How Utility and Weighting Functions Get Their Shapes: A Quasi-Adversarial Collaboration Providing a New Interpretation (2019)
Journal Article
Alempaki, D., Canic, E., Mullett, T., Skylark, W., Starmer, C., Stewart, N., & Tufano, F. (2019). Reexamining How Utility and Weighting Functions Get Their Shapes: A Quasi-Adversarial Collaboration Providing a New Interpretation. Management Science, 65(10), 4451-4949. https://doi.org/10.1287/mnsc.2018.3170

Stewart, Reimers and Harris (2015, SRH hereafter) demonstrated that shapes of utility and probability weighting functions could be manipulated by adjusting the distributions of outcomes and probabilities on offer, as predicted by the theory of Decisi... Read More about Reexamining How Utility and Weighting Functions Get Their Shapes: A Quasi-Adversarial Collaboration Providing a New Interpretation.

Demand-driven Technical Change and Productivity Growth: Theory and Evidence from the Energy Policy Act (2019)
Journal Article
Impullitti, G., Kneller, R., & McGowan, D. (in press). Demand-driven Technical Change and Productivity Growth: Theory and Evidence from the Energy Policy Act. Journal of Industrial Economics,

We present novel evidence on the effect of market size on technology adoption and productivity. Our tests exploit a natural experiment in the US corn industry where changes to national energy policy created exogenous increases in demand. Difference-i... Read More about Demand-driven Technical Change and Productivity Growth: Theory and Evidence from the Energy Policy Act.

Preferences for truth-telling (2019)
Journal Article
Abeler, J., Nosenzo, D., & Raymond, C. (2019). Preferences for truth-telling. Econometrica, 87(4), 1115-1153. doi:10.3982/ECTA14673

Private information is at the heart of many economic activities. For decades, economists have assumed that individuals are willing to misreport private information if this maximizes their material payoff. We combine data from 90 experimental studies... Read More about Preferences for truth-telling.

Implementation in Pakistan of the US Integrated Cargo Containers Control Programme: Trade Facilitating or Not? (2019)
Journal Article
Ali, S., Kneller, R., & Milner, C. (in press). Implementation in Pakistan of the US Integrated Cargo Containers Control Programme: Trade Facilitating or Not?. Canadian Journal of Economics / Revue Canadienne d'Économique,

Using novel firm level data we examine the trade effect of the changed security arrangements for Pakistan's exports to the US following 9/11. The pre-shipment scanning facility introduced by the Integrated Cargo Container Control programme, following... Read More about Implementation in Pakistan of the US Integrated Cargo Containers Control Programme: Trade Facilitating or Not?.

Academic Salaries and Public Evaluation of University Research: Evidence from the UK Research Excellence Framework (2019)
Journal Article
De Fraja, G., Facchini, G., & Gathergood, J. (2019). Academic Salaries and Public Evaluation of University Research: Evidence from the UK Research Excellence Framework. Economic Policy, https://doi.org/10.1093/epolic/eiz009

We study the effects of public evaluation of university research on the pay structures of academic departments. A simple equilibrium model of university pay determination shows how the pay-performance relationship can be explained by the incentives i... Read More about Academic Salaries and Public Evaluation of University Research: Evidence from the UK Research Excellence Framework.