All Outputs (580)

The value-added tax and growth: design matters (2021)
Journal Article
Acosta-Ormaechea, S., & Morozumi, A. (2021). The value-added tax and growth: design matters. International Tax and Public Finance, 28(5), 1211-1241. https://doi.org/10.1007/s10797-021-09681-2

Previous research has shown that changes in the composition of tax revenue affect long-run growth. However, little is yet known about whether the way tax revenue is raised matters for growth. This paper examines whether, in the context of OECD countr... Read More about The value-added tax and growth: design matters.

A self-funding reward mechanism for tax compliance (2021)
Journal Article
Fatas, E., Nosenzo, D., Sefton, M., & Zizzo, D. J. (2021). A self-funding reward mechanism for tax compliance. Journal of Economic Psychology, 86, Article 102421. https://doi.org/10.1016/j.joep.2021.102421

We compare in a laboratory experiment two audit-based tax compliance mechanisms that collect fines from those found non-compliant. The mechanisms differ in the way fines are redistributed to individuals who were either not audited or audited and foun... Read More about A self-funding reward mechanism for tax compliance.

Do dictators signal strength with electoral fraud? (2021)
Journal Article
Ananyev, M., & Poyker, M. (2022). Do dictators signal strength with electoral fraud?. European Journal of Political Economy, 71, Article 102075. https://doi.org/10.1016/j.ejpoleco.2021.102075

What role does electoral fraud play in nondemocracies? In this paper, we offer an empirical test of a popular idea that authoritarian governments use elections to engineer overwhelming victories with electoral fraud thus deterring potential oppositio... Read More about Do dictators signal strength with electoral fraud?.

The Attraction and Compromise Effects in Bargaining: Experimental Evidence (2021)
Journal Article
Galeotti, F., Montero, M., & Poulsen, A. (2022). The Attraction and Compromise Effects in Bargaining: Experimental Evidence. Management Science, 68(4), 2377-3174. https://doi.org/10.1287/mnsc.2021.4025

We experimentally investigate, in an unstructured bargaining environment with commonly known money payoffs, the attraction effect and compromise effect (AE and CE) in bargaining, namely, a tendency for bargainers to agree to an intermediate option (C... Read More about The Attraction and Compromise Effects in Bargaining: Experimental Evidence.

Contextualised strong reciprocity explains selfless cooperation despite selfish intuitions and weak social heuristics (2021)
Journal Article
Isler, O., Gächter, S., Maule, A. J., & Starmer, C. (2021). Contextualised strong reciprocity explains selfless cooperation despite selfish intuitions and weak social heuristics. Scientific Reports, 11(1), Article 13868. https://doi.org/10.1038/s41598-021-93412-4

Humans frequently cooperate for collective benefit, even in one-shot social dilemmas. This provides a challenge for theories of cooperation. Two views focus on intuitions but offer conflicting explanations. The Social Heuristics Hypothesis argues tha... Read More about Contextualised strong reciprocity explains selfless cooperation despite selfish intuitions and weak social heuristics.

Acquirers and financial constraints: Theory and evidence from emerging markets (2021)
Journal Article
Mukherjee, R., & Proebsting, C. (2021). Acquirers and financial constraints: Theory and evidence from emerging markets. Journal of International Money and Finance, 117, Article 102440. https://doi.org/10.1016/j.jimonfin.2021.102440

Financial crises in emerging market economies induce diverging patterns of ownership stakes and subsequent divestiture rates among domestic and foreign acquirers. We rationalize these empirical findings in a tractable model where domestic acquirers a... Read More about Acquirers and financial constraints: Theory and evidence from emerging markets.

A Theory of Outside Equity: Financing Multiple Projects (2021)
Journal Article
Bougheas, S., & Wang, T. (2021). A Theory of Outside Equity: Financing Multiple Projects. Journal of Corporate Finance, 69, Article 102025. https://doi.org/10.1016/j.jcorpfin.2021.102025

In the financial economics literature debt contracts provide optimal solutions for addressing managerial moral hazard problems. We analyze a model with multiple projects where the manager obtains private information about their quality after the cont... Read More about A Theory of Outside Equity: Financing Multiple Projects.

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.

A test for strict stationarity in a random coefficient autoregressive model of order 1 (2021)
Journal Article
Trapani, L. (2021). A test for strict stationarity in a random coefficient autoregressive model of order 1. Statistics and Probability Letters, 177, Article 109164. https://doi.org/10.1016/j.spl.2021.109164

We propose a test for the null of strict stationarity in a Random Coefficient AutoRe-gression (RCAR) of order 1. The test can also be used in the case of a standard AR(1) model, and it can be applied under minimal requirements on the existence of mom... Read More about A test for strict stationarity in a random coefficient autoregressive model of order 1.

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.

Impulse response analysis in conditional quantile models with an application to monetary policy (2021)
Journal Article
Lee, D. J., Kim, T.-H., & Mizen, P. (2021). Impulse response analysis in conditional quantile models with an application to monetary policy. Journal of Economic Dynamics and Control, 127, Article 104102. https://doi.org/10.1016/j.jedc.2021.104102

This paper presents a new method to analyze the effect of shocks on time series using a quantile impulse response function (QIRF). While conventional impulse response analysis is restricted to evaluation using the conditional mean function, here, we... Read More about Impulse response analysis in conditional quantile models with an application to monetary policy.

Organization of R&D outsourcing: Asymmetric cross‐effects between locations (2021)
Journal Article
García-Vega, M., & Huergo, E. (2021). Organization of R&D outsourcing: Asymmetric cross‐effects between locations. Journal of Economics and Management Strategy, 30, 503-524. https://doi.org/10.1111/jems.12422

When companies acquire R&D from external national providers, would they benefit if they also acquired knowledge from foreign providers? And the other way around? These questions are important for the organization of firm knowledge-based activies and... Read More about Organization of R&D outsourcing: Asymmetric cross‐effects between locations.