All Outputs (85)

Macroeconomic and financial stability in a monetary union: the case of Lithuania (2017)
Journal Article

In this paper, we study the implications for macroeconomic and financial stability of macroprudential policies in a monetary union. With this purpose, we develop a two-country monetary union new Keynesian general equilibrium model with housing and co... Read More about Macroeconomic and financial stability in a monetary union: the case of Lithuania.

Teaching by example and induced beliefs in a model of cultural transmission (2017)
Journal Article

We augment standard models of cultural transmission with an explicit account of social learning, grounded in the information transmission literature. Youngsters observe the behavioral trait of a role model and form beliefs about the desirability of t... Read More about Teaching by example and induced beliefs in a model of cultural transmission.

Consumption experience, choice experience and the endowment effect (2017)
Journal Article

We report experiments investigating how experience influences the endowment effect. Our experiments feature endowments which are bundles of unfamiliar consumption goods. We examine how a subject’s willingness to swap items from their endowment is inf... Read More about Consumption experience, choice experience and the endowment effect.

Growth, import dependence, and war (2017)
Journal Article

Theories of war predict that the leader may launch a war on a follower who is catching up, since the follower cannot commit to not use their increased power in the future. But it was Japan who attacked the West in 1941: both leaders and followers sta... Read More about Growth, import dependence, and war.

Legislative bargaining with heterogeneous disagreement values: theory and experiments (2017)
Journal Article

We study a legislative bargaining game in which failure to agree in a given round may result in a breakdown of negotiations. In that case, each player receives an exogenous `disagreement value'. We characterize the set of stationary subgame perfect e... Read More about Legislative bargaining with heterogeneous disagreement values: theory and experiments.

Don't look down: the consequences of job loss in a flexible labour market (2017)
Journal Article

We estimate the earnings, hours and income effects of job loss for a representative sample of UK workers from 1991–2007. We follow workers before and after job loss, regardless of their labour market state, and we match displaced workers with similar... Read More about Don't look down: the consequences of job loss in a flexible labour market.

Is emission intensity or output U-shaped in the strictness of environmental policy? (2017)
Journal Article

We show that, in a range of market conditions, an ever stricter environmental policy does not always lead to ever cleaner production methods and ever lower production of polluting goods. We consider an integrated technology, where firms can reduce th... Read More about Is emission intensity or output U-shaped in the strictness of environmental policy?.

House prices, wealth effects and labour supply (2017)
Journal Article

We examine the impact of house prices on labour supply decisions using UK micro data. We combine household survey data with local level house price measures and controls for local labour demand. Our micro data also allows us to control for individual... Read More about House prices, wealth effects and labour supply.

Quantity restrictions and price adjustment of Chinese textile exports to the U.S. (2017)
Journal Article

The elimination of the Multifibre Arrangement (MFA) in 2005 provides an unusual opportunity to examine the effects of a trade policy shock on export prices and firm behaviour. It was massive in scale, discrete in timing and exogenous to firms and co... Read More about Quantity restrictions and price adjustment of Chinese textile exports to the U.S..

The research reproducibility crisis and economics of science (2017)
Journal Article

We provide a brief summary of two areas where cross-fertilization across economics and other disciplines is likely to have far-reaching benefits. The increasing concern about research reproducibility entails that economic design has much to contribut... Read More about The research reproducibility crisis and economics of science.

Proportional payoffs in legislative bargaining with weighted voting: a characterization (2017)
Journal Article

This paper examines the relationship between voting weights and expected equilibrium payoffs in legislative bargaining and provides a necessary and sufficient condition for payoffs to be proportional to weights. This condition has a natural interpret... Read More about Proportional payoffs in legislative bargaining with weighted voting: a characterization.

To replicate or not to replicate?: exploring reproducibility in economics through the lens of a model and a pilot study (2017)
Journal Article

The sciences are in an era of an alleged ‘credibility crisis’. In this study, we discuss the reproducibility of empirical results, focusing on economics research. By combining theory and empirical evidence, we discuss the import of replication studie... Read More about To replicate or not to replicate?: exploring reproducibility in economics through the lens of a model and a pilot study.

Twin Peaks (2017)
Working Paper

Received wisdom suggests that most exporters sell the majority of their output domestically. In this paper, however, we show that the distribution of export intensity not only varies substantially across countries, but in a large number of cases is a... Read More about Twin Peaks.

Dynastic Political Rents? Economic Benefits to Relatives of Top Politicians (2017)
Journal Article

We exploit close elections in Swedish municipalities to test whether relatives of politicians who become mayors obtain economic benefits. We find no benefits for the siblings of new mayors, but the average earnings of children of newly appointed mayo... Read More about Dynastic Political Rents? Economic Benefits to Relatives of Top Politicians.

Racial discrimination in the U.S. labor market: employment and wage differentials by skill (2017)
Journal Article

In the U.S. the average black worker has a lower employment rate and earns a lower wage compared to his white counterpart. Lang and Lehmann (2012) argue that black-white wage and employment gaps are smaller for high-skill workers. We show that a mode... Read More about Racial discrimination in the U.S. labor market: employment and wage differentials by skill.

Illegal immigration and media exposure: evidence on individual attitudes (2017)
Journal Article

Illegal immigration has been the focus of much debate in receiving countries, but little is known about the drivers of individual attitudes towards illegal immigrants. To study this question, we use the CCES survey, which was carried out in 2006 in t... Read More about Illegal immigration and media exposure: evidence on individual attitudes.

Bonus versus penalty: how robust are the effects of contract framing? (2017)
Journal Article

We study the relative effectiveness of contracts that are framed either in terms of bonuses or penalties. In one set of treatments subjects know at the time of effort provision whether they have achieved the bonus / avoided the penalty. In another se... Read More about Bonus versus penalty: how robust are the effects of contract framing?.

Disappointment aversion and social comparisons in a real-effort competition (2017)
Journal Article

We present an experiment to investigate the source of disappointment aversion in a sequential real-effort competition. Specifically, we study the contribution of social comparison effects to the disappointment aversion previously identified in a two-... Read More about Disappointment aversion and social comparisons in a real-effort competition.

Systemic risk and macroeconomic fat tails (2017)
Book Chapter

We propose a mechanism for shock amplification that potentially can account for fat tails in the distribution of the growth rate of national output. We argue that extreme macroeconomic events, such as the Great Depression and the Great Recession, wer... Read More about Systemic risk and macroeconomic fat tails.

Nonlinearities in the relationship between debt and growth: (no) evidence from over two centuries (2017)
Journal Article

I revisit the popular concern over a nonlinearity or threshold in the relationship between public debt and growth employing long time series data from up to 27 countries. My empirical approach recognises that standard time series arguments for long-r... Read More about Nonlinearities in the relationship between debt and growth: (no) evidence from over two centuries.