All Outputs (9)

Macroprudential Policy under Incomplete Information (2019)
Journal Article
Rubio, M., & Unsal, D. F. (2020). Macroprudential Policy under Incomplete Information. European Journal of Finance, 26(7-8), 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.

Macroprudential policies in a low interest-rate environment (2019)
Journal Article
Rubio, M., & Yao, F. (2020). Macroprudential policies in a low interest-rate environment. Journal of Money, Credit and Banking, 52(6), 1565-1591. https://doi.org/10.1111/jmcb.12662

In this paper, we analyze the use of macroprudential policies in a low interest rate environment, where an occasionally binding zero lower bound (ZLB) constraint gives rise to aggregate demand externalities. We study this issue by using a dynamic sto... Read More about Macroprudential policies in a low interest-rate environment.

Coercive trade policy (2019)
Journal Article
Anesi, V., & Facchini, G. (2019). Coercive trade policy. American Economic Journal: Microeconomics, 11(3), 225-256. https://doi.org/10.1257/mic.20170085

Coercion is used by one government (the sender") to influence the trade practices of another (the target"). We build a two-country trade model in which coercion can be exercised unilaterally or channeled through a “weak" international organization wi... Read More about Coercive trade policy.

Which Boats are lifted by a Foreign Tide? Direct and Indirect Wage Effects of Foreign Ownership (2019)
Journal Article
Girma, S., Görg, H., & Kersting, E. (2019). Which Boats are lifted by a Foreign Tide? Direct and Indirect Wage Effects of Foreign Ownership. Journal of International Business Studies, 50(6), 923-947. https://doi.org/10.1057/s41267-019-00248-2

The attraction of foreign direct investment (FDI) is considered to be of particular importance for emerging economies because it represents a channel through which international convergence in standards of living may be achieved. One important effect... Read More about Which Boats are lifted by a Foreign Tide? Direct and Indirect Wage Effects of Foreign Ownership.

How do Americans repay their debt?: the balance-matching heuristic (2019)
Journal Article
Gathergood, J., Mahoney, N., Stewart, N., & Weber, J. (2019). How do Americans repay their debt?: the balance-matching heuristic. Economics Bulletin, 39(2), 1458-1466

In Gathergood et al. (forthcoming), we studied credit card repayments using linked data on multiple cards from the United Kingdom. We showed that individuals did not allocate payments to the higher interest rate card, which would minimize the cost of... Read More about How do Americans repay their debt?: the balance-matching heuristic.

Dual sourcing with price discovery (2019)
Journal Article
Alcalde, J., & Dahm, M. (2019). Dual sourcing with price discovery. Games and Economic Behavior, 115, 225-246. https://doi.org/10.1016/j.geb.2019.03.007

© 2019 Elsevier Inc. We consider a (standard) reverse auction for dual sourcing and propose to determine both the providers' shares and the reserve price endogenously, depending on the suppliers' bids. Our benchmark considers a two-stage game of comp... Read More about Dual sourcing with price discovery.

How Do Individuals Repay Their Debt? The Balance-Matching Heuristic (2019)
Journal Article
Gathergood, J., Mahoney, N., Stewart, N., & Weber, J. (2019). How Do Individuals Repay Their Debt? The Balance-Matching Heuristic. American Economic Review, 109(3), 844-875. https://doi.org/10.1257/aer.20180288

We study how individuals repay their debt using linked data on multiple credit cards. Repayments are not allocated to the higher interest rate card, which would minimize the cost of borrowing. Moreover, the degree of misallocation is invariant to the... Read More about How Do Individuals Repay Their Debt? The Balance-Matching Heuristic.

Does the rental housing market stabilize the economy?: a micro and macro perspective (2019)
Journal Article
Rubio, M., & Rubaszek, M. (2019). Does the rental housing market stabilize the economy?: a micro and macro perspective. Empirical Economics, https://doi.org/10.1007/s00181-019-01638-z

© 2019, The Author(s). The size of the rental housing market in most countries around the globe is small. In this article, we claim that this may be detrimental to macroeconomic stability. We do it in three steps. First, using survey data for Poland,... Read More about Does the rental housing market stabilize the economy?: a micro and macro perspective.

Making science public: challenges and opportunities (2019)
Report
Raman, S., Nerlich, B., Cartelet, C., de Saille, S., Hadley Kershaw, E., Hartley, S., Hobson-West, P., Holmwood, J., Lowndes, V., Madziva, R., Martin, P., McLeod, C., Millar, K., Mohr, A., Morris, C., Pearce, W., Seymour, S., Smith, A., Spencer, A., & Tsouvalis, J. (2019). Making science public: challenges and opportunities. Leverhulme Trust

This Programme investigated the relationship between science, politics and publics in the aftermath of an influential 2000 UK House of Lords Science and Society report. We conceptualised top-down initiatives promising greater transparency around the... Read More about Making science public: challenges and opportunities.