Browsing Economics and Business Working Papers Series by Title

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Browsing Economics and Business Working Papers Series by Title

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  • Forlati, Chiara (2004)
    This paper studies monetary and fiscal policy interactions in a two country model, where taxes on firms’ sales are optimally chosen and the monetary policy is set cooperatively. It turns out that in a two country setting ...
  • Ciccone, Antonio; Costain, James S. (2001)
    Payoff heterogeneity weakens positive feedback in binary choice models in two ways. First, heterogeneity drives individuals to corners where they are unaffected by strategic complementarities. Second, aggregate behaviour is ...
  • López, Rafael (2001)
    In this paper we provide a full characterization of the pure-strategy Nash Equilibria for the p-Beauty Contest Game when we restrict player’s choices to integer numbers. Opposed to the case of real number choices, equilibrium ...
  • Cesa Bianchi, Nicolo; Lugosi, Gábor (1998)
    Sequential randomized prediction of an arbitrary binary sequence is investigated. No assumption is made on the mechanism of generating the bit sequence. The goal of the predictor is to minimize its relative loss, i.e., ...
  • Martin, Alberto (2003)
    Dubey and Geanakoplos [2002] have developed a theory of competitive pooling, which incorporates adverse selection and signaling into general equilibrium. By recasting the Rothschild-Stiglitz model of insurance in this ...
  • Germano, Fabrizio (2003)
    Equivalence classes of normal form games are defined using the geometry of correspondences of standard equilibiurm concepts like correlated, Nash, and robust equilibrium or risk dominance and rationalizability. ...
  • Rubio Varas, M. del Mar; Folchi, Mauricio (2005)
    This paper proposes a nonparametric test in order to establish the level of accuracy of the foreign trade statistics of 17 Latin American countries when contrasted with the trade statistics of the main partners in 1925. ...
  • Alòs, Elisa; León, Jorge A. (2013)
    In this paper we propose a general technique to develop first and second order closed-form approximation formulas for short-time options with random strikes. Our method is based on Malliavin calculus techniques and allows ...
  • Apesteguia, Jose; Ballester, Miguel A. (2007)
    We study the complexity of rationalizing choice behavior. We do so by analyzing two polar cases, and a number of intermediate ones. In our most structured case, that is where choice behavior is defined in universal choice ...
  • Viader, Pelegrí; Paradís, Jaume; Bibiloni, Lluís (2000)
    The approximants to regular continued fractions constitute `best approximations' to the numbers they converge to in two ways known as of the first and the second kind. This property of continued fractions provides a ...
  • Hauk, Esther; Sáez, Maria (1999)
    We provide a cultural explanation to the phenomenon of corruption in the framework of an overlapping generations model with intergenerational transmission of values. We show that the economy has two steady states with ...
  • Saint Paul, Gilles (1999)
    We study the earnings structure and the equilibrium assignment of workers when workers exert intra-firm spillovers on each other. We allow for arbitrary spillovers provided output depends on some aggregate index of ...
  • Peñaranda, Francisco; Rupérez-Micola, Augusto (2009)
    We use the recent introduction of biofuels to study the effect of industry factors on the relationships between wholesale commodity prices. Correlations between agricultural products and oil are strongest in the 2005-09 ...
  • Gil, Àngel J.; Capdevila, Carles; Arcas, Antoni (1998)
    In this paper we propose a Pyramidal Classification Algorithm, which together with an appropriate aggregation index produces an indexed pseudo-hierarchy (in the strict sense) without inversions nor crossings. The computer ...
  • Peñaranda, Francisco; Daníelsson, Jón (2007)
    We develop a coordination game to model interactions between fundamentals and liquidity during unstable periods in financial markets. We then propose a flexible econometric framework for estimation of the model and analysis ...
  • Marín, José M.; Olivier, Jacques P. (1995)
    Researchers have used stylized facts on asset prices and trading volume in stock markets (in particular, the mean reversion of asset returns and the correlations between trading volume, price changes and price levels) to ...
  • Tarozzi, Alessandro; Desai, Jaikishan; Johnson, Kristin (2013)
    We use data from a randomized controlled trial conducted in 2003-2006 in rural Amhara and Oromiya (Ethiopia) to study the impacts of the introduction of microfinance in treated communities. We document that borrowing ...
  • Longford, Nicholas (2014)
    The restricted maximum likelihood is preferred by many to the full maximum likelihood for estimation with variance component and other random coefficient models, because the variance estimator is unbiased. It is shown ...
  • Apesteguia, Jose; Ballester, Miguel A.; Ferrer, Rosa (2006)
    What are the best voting systems in terms of utilitarianism? Or in terms of maximin, or maximax? We study these questions for the case of three alternatives and a class of structurally equivalent voting rules. We show that ...

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