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The Political Economy of Preferential Trade Agreements: An Empirical Investigation (2021)
Journal Article
Facchini, G., Silva, P., & Willmann, G. (2021). The Political Economy of Preferential Trade Agreements: An Empirical Investigation. Economic Journal, 131(640), 3207-3240. https://doi.org/10.1093/ej/ueab044

We develop a political economy model to study the decision of representative democracies to join a preferential trading agreement (PTA), distinguishing between free trade areas (FTA) and customs unions (CU). Our theoretical analysis shows that bilate... Read More about The Political Economy of Preferential Trade Agreements: An Empirical Investigation.

The Safest Time to Fly: Pandemic Response in the Era of Fox News (2021)
Journal Article
Ananyev, M., Poyker, M., & Tian, Y. (2021). The Safest Time to Fly: Pandemic Response in the Era of Fox News. Journal of Population Economics, https://doi.org/10.1007/s00148-021-00847-0

We document a causal effect of the conservative Fox News Channel in the United States on physical distancing during COVID-19 pandemic. We measure county-level mobility covering all U.S. states and District of Columbia produced by GPS pings to 15-17 m... Read More about The Safest Time to Fly: Pandemic Response in the Era of Fox News.

Sex and the mission: the conflicting effects of early Christian missions on HIV in sub-Saharan Africa (2020)
Journal Article
Cagé, J., & Rueda, V. (2020). Sex and the mission: the conflicting effects of early Christian missions on HIV in sub-Saharan Africa. Journal of Demographic Economics, 86(3), 213-257. https://doi.org/10.1017/dem.2019.16

This article investigates the long-term impact of historical missionary activity on HIV in sub-Saharan Africa. On the one hand, missionaries were the first to invest in modern medicine in the region. On the other hand, Christianity influenced sexual... Read More about Sex and the mission: the conflicting effects of early Christian missions on HIV in sub-Saharan Africa.

Pareto-Efficient Solutions for Shared Public Good Provision: Nash Bargaining versus Exchange-Matching-Lindahl (2020)
Journal Article
Dijkstra, B. R., & Nentjes, A. (2020). Pareto-Efficient Solutions for Shared Public Good Provision: Nash Bargaining versus Exchange-Matching-Lindahl. Resource and Energy Economics, 61, https://doi.org/10.1016/j.reseneeco.2020.101179

We compare two cooperation mechanisms for consumer/producers of a public good: the Nash Bargaining Solution (NBS) and the Exchange-Matching-Lindahl (EML) solution, where each agent specifies her demand for and supply of the public good according to h... Read More about Pareto-Efficient Solutions for Shared Public Good Provision: Nash Bargaining versus Exchange-Matching-Lindahl.

Trade liberalization, input intermediaries and firm productivity: Evidence from China (2020)
Journal Article
Defever, F., Imbruno, M., & Kneller, R. (2020). Trade liberalization, input intermediaries and firm productivity: Evidence from China. Journal of International Economics, 126, https://doi.org/10.1016/j.jinteco.2020.103329

We investigate theoretically and empirically the role of wholesalers in mediating the productivity effects of trade liberalization. Intermediaries provide indirect access to foreign produced inputs. The productivity effects of input tariff cuts on fi... Read More about Trade liberalization, input intermediaries and firm productivity: Evidence from China.

Does transparency come at the cost of charitable services? Evidence from investigating British charities (2020)
Journal Article
Dang, C. T., & Owens, T. (2020). Does transparency come at the cost of charitable services? Evidence from investigating British charities. Journal of Economic Behavior and Organization, 172, 314-343. https://doi.org/10.1016/j.jebo.2020.02.020

Recent high-profile scandals related to misuse of funding and donations have raised the demand for scrutiny over financial transparency and operational activities of non-profit organizations in developed countries. Our analysis challenges the common... Read More about Does transparency come at the cost of charitable services? Evidence from investigating British charities.

Incentives and Careers in Academia: Theory and Empirical Analysis (2020)
Journal Article
Checchi, D., De Fraja, G., & Verzillo, S. (2020). Incentives and Careers in Academia: Theory and Empirical Analysis. Review of Economics and Statistics, 103(4), 1-46. https://doi.org/10.1162/rest_a_00916

We study career concerns in Italian academia. We mould our empirical analysis on the standard model of contests, formalised in the multi-unit all-pay auction. The number of posts, the number of applicants, and the relative importance of the criteria... Read More about Incentives and Careers in Academia: Theory and Empirical Analysis.

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.

Testing explosive bubbles with time-varying volatility (2018)
Journal Article
Harvey, D. I., Leybourne, S. J., & Zu, Y. (2019). Testing explosive bubbles with time-varying volatility. Econometric Reviews, 38(10), 1131-1151. https://doi.org/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 about Testing explosive bubbles with time-varying volatility.

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. https://doi.org/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 about The role of international and domestic R&D outsourcing for firm innovation.