All Outputs (607)

The effect of education, income inequality and merit on inequality acceptance (2020)
Journal Article
Barr, A., & Miller, L. (2020). The effect of education, income inequality and merit on inequality acceptance. Journal of Economic Psychology, 80, https://doi.org/10.1016/j.joep.2020.102276

A large number of observational and experimental studies have explored the determinants of individual preferences for redistribution. In general, inequalities are more likely to be accepted by people of higher socioeconomic status, in richer societie... Read More about The effect of education, income inequality and merit on inequality acceptance.

How vocational education made women better off but left men behind (2020)
Journal Article
Acevedo, P., Cruces, G., Gertler, P., & Martinez, S. (2020). How vocational education made women better off but left men behind. Labour Economics, 65, Article 101824. https://doi.org/10.1016/j.labeco.2020.101824

This paper examines the interaction between vocational and soft skills training on labor market outcomes and expectations of youth in the Dominican Republic. Applicants to a training program were randomly assigned to one of three modalities: a full t... Read More about How vocational education made women better off but left men behind.

Trade and management (2020)
Journal Article
Bloom, N., Manova, K., Van Reenen, J., Sun, S. T., & Yu, Z. (2021). Trade and management. Review of Economics and Statistics, 103(3), 443-460. https://doi.org/10.1162/rest_a_00925

We study how management practices shape export performance using matched production-trade-management data for Chinese and American firms and a randomized control trial in India. Better managed firms are more likely to export, sell more products to mo... Read More about Trade and management.

Inferential theory for heterogeneity and cointegration in large panels (2020)
Journal Article
Trapani, L. (2020). Inferential theory for heterogeneity and cointegration in large panels. Journal of Econometrics, 220(2), 474-503. https://doi.org/10.1016/j.jeconom.2020.04.010

© 2020 Elsevier B.V. This paper provides an estimation and testing framework to assess the presence and the extent of slope heterogeneity and cointegration when the units are a mixture of spurious and/or cointegrating regressions. We propose two mome... Read More about Inferential theory for heterogeneity and cointegration in large panels.

Who Acquires Information in Dealer Markets? (2020)
Journal Article
Rüdiger, J., & Vigier, A. (2020). Who Acquires Information in Dealer Markets?. American Economic Review, 110(4), 1145-1176. https://doi.org/10.1257/aer.20170690

We study information acquisition in dealer markets. We first identify a one-sided strategic complementarity in information acquisition: the more informed traders are, the larger market makers' gain from becoming informed. When quotes are observable,... Read More about Who Acquires Information in Dealer Markets?.

Estimating and testing the multicountry endogenous growth model (2020)
Journal Article
De Visscher, S., Eberhardt, M., & Everaert, G. (2020). Estimating and testing the multicountry endogenous growth model. Journal of International Economics, 125, https://doi.org/10.1016/j.jinteco.2020.103325

© 2020 Elsevier B.V. We estimate Cobb-Douglas production functions that parameterize unobserved total factor productivity as a global technology process interacted with country-specific absorptive capacities. In contrast to the existing literature we... Read More about Estimating and testing the multicountry endogenous growth model.

Sequential testing for structural stability in approximate factor models (2020)
Journal Article
Barigozzi, M., & Trapani, L. (2020). Sequential testing for structural stability in approximate factor models. Stochastic Processes and their Applications, 130(8), 5149-5187. https://doi.org/10.1016/j.spa.2020.03.003

We develop a monitoring procedure to detect changes in a large approximate factor model. Letting r be the number of common factors, we base our statistics on the fact that the(r + 1)-th eigenvalue of the sample covariance matrix is bounded under the... Read More about Sequential testing for structural stability in approximate factor models.

Altruism, fast and slow? Evidence from a meta-analysis and a new experiment (2020)
Journal Article
Fromell, H., Nosenzo, D., & Owens, T. (2020). Altruism, fast and slow? Evidence from a meta-analysis and a new experiment. Experimental Economics, 23, 979–1001. https://doi.org/10.1007/s10683-020-09645-z

Can we use the lens of dual-system theories to explain altruistic behavior? In recent years this question has attracted the interest of both economists and psychologists. We contribute to this emerging literature by reporting the results of a meta-st... Read More about Altruism, fast and slow? Evidence from a meta-analysis and a new experiment.

Bank capital, financial stability and Basel regulation in a low interest-rate environment (2020)
Journal Article
Rubio, M., & Yao, F. (2020). Bank capital, financial stability and Basel regulation in a low interest-rate environment. International Review of Economics and Finance, 67, 378-392. https://doi.org/10.1016/j.iref.2020.02.008

The current low interest-rate environment poses new challenges to international bank regulation policies. This paper analyzes the role of the Basel regulation in this new context. We study this issue by using a DSGE model with housing and collateral... Read More about Bank capital, financial stability and Basel regulation in a low interest-rate environment.

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, 103388. 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?.

Policy Effects of International Taxation on Firm Dynamics and Capital Structure (2020)
Working Paper
Spencer, A. Policy Effects of International Taxation on Firm Dynamics and Capital Structure

This paper develops a quantitative open economy framework with dynamics, firm heterogeneity and financial frictions to study the impact of corporate tax reforms targeted at multinationals. The model quantifies their impact on productivity, GDP and we... Read More about Policy Effects of International Taxation on Firm Dynamics and Capital Structure.

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, 31(4), 881–900. 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, 103, 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. (2021). How Hard Is It to Maximize Profit? Evidence from a 19th century Italian State Monopoly. Oxford Economic Papers, 73(2), 879–902. 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. (2020). The Australian Real‐Time Fiscal Database: An Overview with Illustrations of Its Use in Analysing Fiscal Policy. Economic Record, 96(312), 87-106. https://doi.org/10.1111/1475-4932.12509

This paper describes a fiscal 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... 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. (2020). Moderating Loss Aversion: Loss Aversion Has Moderators, But Reports of its Death are Greatly Exaggerated. Journal of Consumer Psychology, 30(3), 407-428. 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.

China's Dual Export Sector (2019)
Book Chapter
Riano, A., & Defever, F. (2019). China's Dual Export Sector. In WTO and Economic Development. Massachusetts Institute of Technology Press (MIT Press)

China has transitioned from being an almost autarkic economy to become the world's largest exporter in less than three decades. Given this unique transformation, this paper investigates if the key stylized facts that characterize the behavior of fir... Read More about China's Dual Export Sector.

Subsidies, spillovers and exports (2019)
Journal Article
Girma, S., Görg, H., & Stepanok, I. (2020). Subsidies, spillovers and exports. Economics Letters, 186, Article 108840. 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.