Research Repository

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Macroprudential policies in a low interest-rate environment (2019)
Journal Article
Rubio, M., & Yao, F. (2019). Macroprudential policies in a low interest-rate environment. Journal of Money, Credit and Banking, 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

Sex and the Mission: The Conflicting Effects of Early Christian Missions on HIV in sub-Saharan Africa (2019)
Journal Article
Cagé, J., & Rueda, V. (2019). Sex and the Mission: The Conflicting Effects of Early Christian Missions on HIV in sub-Saharan Africa. Journal of Demographic Economics,

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

Does it really matter how different we are? Ancestry distances and income in the United States (2019)
Book Chapter
Rueda, V. (in press). Does it really matter how different we are? Ancestry distances and income in the United States. In R. Sauer (Ed.), World Scientific Encyclopaedia of Global MigrationWorld Scientific

Do ancestry differences at the local level have persistent effects on economic success inside the United States? Using data from the American Community Survey, and genetic and cultural measures of ancestry distance from the recent literature, this ar... Read More

Foreign Exchange Inflows, the Trade Balance and Real Effective Exchange Rates (2019)
Journal Article
Bleaney, M., & Tian, M. (in press). Foreign Exchange Inflows, the Trade Balance and Real Effective Exchange Rates. Open Economies Review,

There has long been a concern that large net inflows of property income or income transfers (such as aid and remittances) pull up the real exchange rate and thus divert resources away from the tradables sector (the so-called Dutch disease effect), al... Read More

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

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. doi: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

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

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

Making science public: challenges and opportunities (2019)
Report
Raman, S., Nerlich, B., Cartelet, C., de Saille, S., Hadley Kershaw, E., Hartley, S., …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

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, 38(10), 1131-1151. 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

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

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

China's "Great Migration": the impact of the reduction in trade policy uncertainty (2017)
Working Paper
Facchini, G., Liu, M. Y., Mayda, A. M., & Zhou, M. China's "Great Migration": the impact of the reduction in trade policy uncertainty

We analyze the effect of China's integration into the world economy on workers in the country and show that one important channel of impact has been internal migration. Specifically, we study the changes in internal migration rates triggered by the r... Read More