All Outputs (604)

The new financial regulation in Basel III and monetary policy: A macroprudential approach (2016)
Journal Article
Rubio, M., & Carrasco-Gallego, J. A. (2016). The new financial regulation in Basel III and monetary policy: A macroprudential approach. Journal of Financial Stability, 26, 294-305. https://doi.org/10.1016/j.jfs.2016.07.012

The aim of this paper is to study the interaction between Basel I, II and III regulations with monetary policy. In order to do that, we use a dynamic stochastic general equilibrium (DSGE) model with a housing market, banks, borrowers, and savers. Res... Read More about The new financial regulation in Basel III and monetary policy: A macroprudential approach.

Public spending reallocations and economic growth across different income levels (2016)
Journal Article
Acosta-Ormaechea, S., & Morozumi, A. (2017). Public spending reallocations and economic growth across different income levels. Economic Inquiry, 55(1), 98-114. https://doi.org/10.1111/ecin.12382

This paper examines the effects of public spending reallocations on economic growth. Assembling a disaggregated public spending dataset of 83 countries over the 1970-2011 period, we show that spending reallocations towards education, from health and... Read More about Public spending reallocations and economic growth across different income levels.

Coordinating macroprudential policies within the Euro Area: the case of Spain (2016)
Journal Article
Rubio, M., & Carrasco-Gallego, J. A. (in press). Coordinating macroprudential policies within the Euro Area: the case of Spain. Economic Modelling, 59, https://doi.org/10.1016/j.econmod.2016.06.006

In the aftermath of the global financial crisis, there is consensus on the need for macroprudential policies to promote financial stability. However, the optimal way to implement such policies in the Euro area is a question open to debate, given that... Read More about Coordinating macroprudential policies within the Euro Area: the case of Spain.

Optimal public funding for research: a theoretical analysis (2016)
Journal Article
De Fraja, G. (2016). Optimal public funding for research: a theoretical analysis. RAND Journal of Economics, 47(3), 498-528. https://doi.org/10.1111/1756-2171.12135

This article studies how a government should distribute funds among research institutions and how it should allocate them to basic and applied research. Institutions differ in reputation and efficiency, and have an information advantage. The governme... Read More about Optimal public funding for research: a theoretical analysis.

Volatility and diversification of exports: firm level theory and evidence (2016)
Journal Article
Vannoorenberghe, G., Zheng, W., & Yu, Z. (2016). Volatility and diversification of exports: firm level theory and evidence. European Economic Review, 89, 216-247. https://doi.org/10.1016/j.euroecorev.2016.07.002

We show using detailed firm-level Chinese data that, among small exporters, firms selling to a more diversified set of countries have more volatile exports, while the opposite holds among large exporters. This apriori surprising result for small firm... Read More about Volatility and diversification of exports: firm level theory and evidence.

Corporate taxation and productivity catch-up: evidence from European firms (2016)
Journal Article
Gemmell, N., Kneller, R., McGowan, D., Sanz, I., & Sanz-Sanz, J. F. (in press). Corporate taxation and productivity catch-up: evidence from European firms. Scandinavian Journal of Economics, https://doi.org/10.1111/sjoe.12212

This paper explores whether higher corporate tax rates reduce the speed with which small firms converge to the productivity frontier by lowering the after-tax returns to productivity-enhancing investments. Using data for 11 European countries we find... Read More about Corporate taxation and productivity catch-up: evidence from European firms.

Public spending and growth: The role of government accountability (2016)
Journal Article
Morozumi, A., & Viega, F. J. (2016). Public spending and growth: The role of government accountability. European Economic Review, 89, 148-171. https://doi.org/10.1016/j.euroecorev.2016.07.001

This paper examines the role of institutions in the nexus between public spending and economic growth. Empirical results based on a newly assembled dataset of 80 countries over the 1970-2010 period suggest that particularly when institutions prompt g... Read More about Public spending and growth: The role of government accountability.

Global engagement and returns volatility (2016)
Journal Article
Girma, S., Lancheros, S., & Riaño, A. (in press). Global engagement and returns volatility. Oxford Bulletin of Economics and Statistics, 78(6), https://doi.org/10.1111/obes.12150

This paper finds that a greater reliance on foreign market sales increases the volatility of firms’ stock returns using high-frequency data for publicly-listed Japanese manufacturing firms over the period 2000 to 2010. The two margins of global engag... Read More about Global engagement and returns volatility.

Salaires et emploi dans les secteurs public et privé. Différences et interactions (2016)
Journal Article
Bradley, J., Dickson, M., Postel-Vinay, F., & Turon, H. (2016). Salaires et emploi dans les secteurs public et privé. Différences et interactions. https://doi.org/10.3917/rfe.161.0065

Differences in wages and in employment between the public and the private sectors are not only present in a static comparison. Dynamic features of employment such as returns to experience, wage volatility and job security also exhibit differences acr... Read More about Salaires et emploi dans les secteurs public et privé. Différences et interactions.

Quality selection, sectoral heterogeneity and Chinese exports (2016)
Journal Article
Kneller, R., & Yu, Z. (2016). Quality selection, sectoral heterogeneity and Chinese exports. Review of International Economics, 24(4), 857-874. https://doi.org/10.1111/roie.12241

Recent models of international trade have identified product quality as an important determinant of bilateral trade flows. In this paper we examine the relationship between the characteristics of the export market and the aggregate quality of product... Read More about Quality selection, sectoral heterogeneity and Chinese exports.

Information rigidities and the news-adjusted output gap (2016)
Journal Article
Garratt, A., Lee, K., & Shields, K. (2016). Information rigidities and the news-adjusted output gap. Journal of Economic Dynamics and Control, 70, https://doi.org/10.1016/j.jedc.2016.06.004

A vector-autoregressive model of actual output and expected output obtained from surveys is used to test for information rigidities and to provide a characterisation of output dynamics that accommodates these information structures. News on actual an... Read More about Information rigidities and the news-adjusted output gap.

Improving the length of confidence sets for the date of a break in level and trend when the order of integration is unknown (2016)
Journal Article
Harvey, D. I., & Leybourne, S. J. (in press). Improving the length of confidence sets for the date of a break in level and trend when the order of integration is unknown. Economics Letters, 145, https://doi.org/10.1016/j.econlet.2016.06.015

Harvey and Leybourne (2015) construct confidence sets for the timing of a break in level and/or trend, based on inverting sequences of test statistics for a break at all possible dates. These are valid, in the sense of yielding correct asymptotic cov... Read More about Improving the length of confidence sets for the date of a break in level and trend when the order of integration is unknown.

Penny auctions (2016)
Journal Article
Hinnosaar, T. (2016). Penny auctions. International Journal of Industrial Organization, 48, 59-87. https://doi.org/10.1016/j.ijindorg.2016.06.005

This paper studies penny auctions, a novel auction format in which every bid increases the price by a small amount, but placing a bid is costly. Outcomes of real-life penny auctions are often surprising. Even when selling cash, the seller may obtain... Read More about Penny auctions.

Survival in export markets (2016)
Journal Article
Albornoz, F., Fanelli, S., & Hallak, J. C. (2016). Survival in export markets. Journal of International Economics, 102, 262-281. https://doi.org/10.1016/j.jinteco.2016.05.003

This paper explores the determinants of firm survival in export markets. We build an exporter dynamics model where firms need to pay market-specific sunk and fixed costs to operate abroad and where firm export profitability in each foreign market fol... Read More about Survival in export markets.

ICT and exporting: the effects of broadband on the extensive margin of business service exports. (2016)
Journal Article
Kneller, R., & Timmis, J. (2016). ICT and exporting: the effects of broadband on the extensive margin of business service exports. Review of International Economics, 24(4), 757-796. https://doi.org/10.1111/roie.12237

Over recent decades the global economy has witnessed rapid growth of international trade in services. This has been particularly true of service-intensive countries such as the UK. Developments in information and communication technologies are an obv... Read More about ICT and exporting: the effects of broadband on the extensive margin of business service exports..

Self-employment in an equilibrium model of the labor market (2016)
Journal Article
Bradley, J. (2016). Self-employment in an equilibrium model of the labor market. IZA Journal of Labor Economics, 5(6), https://doi.org/10.1186/s40172-016-0046-8

Self-employed workers account for between 8% and 30% of participants in the labor markets of OECD countries, Blanch ower (2004). This paper develops and estimates a general equilibrium model of the labor market that accounts for this sizable proporti... Read More about Self-employment in an equilibrium model of the labor market.

Measuring exchange rate flexibility by regression methods (2016)
Journal Article
Bleaney, M., & Tian, M. (2017). Measuring exchange rate flexibility by regression methods. Oxford Economic Papers, 69(1), https://doi.org/10.1093/oep/gpw029

A new and easily implemented regression method is proposed for generating an index of exchange rate flexibility, whilst simultaneously identifying anchors of pegged currencies. The method can distinguish floats from pegs, including those with occasio... Read More about Measuring exchange rate flexibility by regression methods.

The heterogeneous effect of software patents on expected returns: evidence from India (2016)
Journal Article
Eberhardt, M., Fafchamps, M., Helmers, C., & Patnam, M. (2016). The heterogeneous effect of software patents on expected returns: evidence from India. Economics Letters, 145, https://doi.org/10.1016/j.econlet.2016.05.016

We contribute to the literature on the role of patenting for economic development by analyzing the impact of patent protection for software in India. We find that a proposed broadening of patent eligibility to include software in 2004 had a large pos... Read More about The heterogeneous effect of software patents on expected returns: evidence from India.

Number preferences in lotteries (2016)
Journal Article
Wang, T. V., Potter van Loon, R. J., van den Assem, M. J., & van Dolder, D. (2016). Number preferences in lotteries. Judgment and Decision Making, 11(3),

We explore people's preferences for numbers in large proprietary data sets from two different lottery games. We find that choice is far from uniform, and exhibits some familiar and some new tendencies and biases. Players favor personally meaningful a... Read More about Number preferences in lotteries.

Corruption and bicameral reforms (2016)
Journal Article
Facchini, G., & Testa, C. (2016). Corruption and bicameral reforms. Social Choice and Welfare, 47(2), 387-411. https://doi.org/10.1007/s00355-016-0969-9

© 2016, Springer-Verlag Berlin Heidelberg. During the last decade unicameral proposals have been put forward in fourteen US states. In this paper we analyze the effects of the proposed constitutional reforms, in a setting where decision making is sub... Read More about Corruption and bicameral reforms.