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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,

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

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. doi: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

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. doi:10.1016/j.geb.2019.03.007

Testing explosive bubbles with time-varying volatility (2018)
Journal Article
Harvey, D. I., Leybourne, S. J., & Zu, Y. (2018). Testing explosive bubbles with time-varying volatility. Econometric Reviews, doi:10.1080/07474938.2018.1536099

This paper considers the problem of testing for an explosive bubble in financial data in the presence of time-varying volatility. We propose a weighted least squares-based variant of the Phillips, Wu and Yu (2011) test for explosive autoregressive be... Read More

The role of international and domestic R&D outsourcing for firm innovation (2018)
Journal Article
García-Vega, M., & Huergo, E. (2019). The role of international and domestic R&D outsourcing for firm innovation. Journal of Economic Behavior and Organization, 157, 775-792. doi:10.1016/j.jebo.2018.11.009

Firms are increasingly outsourcing their high-tech services. Theory suggests that R&D outsourcing allows firms to specialize in core knowledge-intensive tasks, thereby increasing innovation, but R&D outsourcing may also undermine internal capabilitie... Read More

Testing the order of fractional integration of a time series in the possible presence of a trend break at an unknown point (2018)
Journal Article
Iacone, F., Leybourne, S. J., & Taylor, A. R. (2018). Testing the order of fractional integration of a time series in the possible presence of a trend break at an unknown point. Econometric Theory, doi:10.1017/s0266466618000361

We develop a test, based on the Lagrange multiplier [LM] testing principle, for the value of the long memory parameter of a univariate time series that is composed of a fractionally integrated shock around a potentially broken deterministic trend. Ou... Read More

Broadband infrastructure, ICT use and firm performance: evidence for UK firms (2018)
Journal Article
DeStefano, T., Kneller, R., & Timmis, J. (2018). Broadband infrastructure, ICT use and firm performance: evidence for UK firms. Journal of Economic Behavior and Organization, 155, 110-139. doi:10.1016/j.jebo.2018.08.020

The recent economics literature has begun to recognise that ICT is a heterogeneous technology altering information storage, processing and communication in distinct ways. In this paper we use the arrival of a new communication technology, ADSL broadb... Read More

Coercive trade policy (2018)
Journal Article
Anesi, V., & Facchini, G. (in press). Coercive trade policy. American Economic Journal: Microeconomics,

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

Preferences for truth-telling (2018)
Journal Article
Abeler, J., Nosenzo, D., & Raymond, C. (in press). Preferences for truth-telling. Econometrica,

Private information is at the heart of many economic activities. For decades, economists have assumed that individuals are willing to misreport private information if this maximizes their material payoff. We combine data from 90 experimental studies... Read More

Occupational choice with endogenous spillovers (2018)
Journal Article
Albornoz, F., Cabrales, A., & Hauk, E. (2018). Occupational choice with endogenous spillovers. Economic Journal, doi:10.1111/ecoj.12634. ISSN 0013-0133

We study a model that integrates productive and socializing efforts with occupational choice, and endogenous spillovers. We show that more talented individuals work harder and contribute more to externalities, but also have incentives to segregate. A... Read More

On the social inappropriateness of discrimination (2018)
Journal Article
Barr, A., Lane, T., & Nosenzo, D. (2018). On the social inappropriateness of discrimination. Journal of Public Economics, 164, (153-164). doi:10.1016/j.jpubeco.2018.06.004. ISSN 0047-2727

We experimentally investigate the relationship between discriminatory behaviour and the perceived social inappropriateness of discrimination. We conjecture that discrimination will be weaker when social norms oppose it. Our results support this predi... Read More

Microeconomic adjustments during an export boom: Argentina, 2003-11 (2018)
Journal Article
Albornoz, F., García Lembergman, E., & Juarez, L. (2018). Microeconomic adjustments during an export boom: Argentina, 2003-11. World Economy, 41(8), (2129-2148). doi:10.1111/twec.12653. ISSN 0378-5920

This paper examines Argentine exports at the firm level between 2003 and 2011, a period of exceptional and sustained export growth. While at the product level, the pattern of specialisation barely changed, exporters exhibit new dynamics in internatio... Read More

Immigrant children’s school performance and immigration costs: evidence from Spain (2018)
Journal Article
Albornoz, F., Cabrales, A., Calvo, P., & Hauk, E. (2018). Immigrant children’s school performance and immigration costs: evidence from Spain. Economics Letters, 170, (27-30). doi:10.1016/j.econlet.2018.05.015. ISSN 0165-1765

This note provides evidence on how immigration costs affect school performance of immigrant children exploiting the information provided by the CDI; a standardized exam for all students enrolled in the last year of Primary education in the Madrid reg... Read More

Semi-autonomous revenue authorities in Sub-Saharan Africa: silver bullet or white elephant (2018)
Journal Article
Dom, R. (2018). Semi-autonomous revenue authorities in Sub-Saharan Africa: silver bullet or white elephant. Journal of Development Studies, doi:10.1080/00220388.2018.1469743. ISSN 0022-0388

A major component of tax administration reform in sub-Saharan Africa for the last 30 years has been the creation of semi-autonomous revenue authorities (SARAs). The effects of their creation on revenue performance have been much debated, although the... Read More

Trade and the allocation of talent with capital market imperfections (2012)
Journal Article
Bonfatti, R., & Ghatak, M. (2013). Trade and the allocation of talent with capital market imperfections. Journal of International Economics, 89(1), (187-201). doi:10.1016/j.jinteco.2012.07.005. ISSN 0022-1996

Trade liberalization in the 1980s and 1990s has been associated with a sharp increase in the skill premium in both developed and developing countries. This is in apparent conflict with neoclassical theory, according to which trade should decrease the... Read More