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Browsing Economics and Business Working Papers Series by Title

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  • 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 ...
  • Galizzi, Matteo M.; Navarro Martinez, Daniel (2015)
    We present a lab-field experiment designed to assess systematically the external validity of social preferences elicited in a variety of experimental games. We do this by comparing behavior in the different games with a ...
  • Longford, Nicholas (2015)
    This report comprises four reactions to the recent policy statement in Basic and Applied Social Psychology that announced a ban on null-hypothesis testing in that journal. A personal perspective is presented which agrees ...
  • 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 Ángel; 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 ...
  • Alòs, Elisa; León, Jorge A. (2014)
    In this paper we give an alternative proof of the convexity of the implied volatility curve as a function of the strike, for stochastic volatility models in the uncorrelated case. Our method is based on the computation of ...
  • Colomer, Josep M. (2005)
    The old, understudied electoral system composed of multi-member districts, open ballot and plurality rule is presented as the most remote scene of the origin of both political parties and new electoral systems. A survey ...
  • Costa, Àlex; Satorra, Albert; Ventura, Eva (2008)
    Most methods for small-area estimation are based on composite estimators derived from design- or model-based methods. A composite estimator is a linear combination of a direct and an indirect estimator with weights that ...
  • Costain, James S. (1998)
    Four general equilibrium search models are compared quantitatively. The baseline framework is a calibrated macroeconomic model of the US economy designed for a welfare analysis of unemployment insurance policy. The other ...
  • Jeon, Doh Shin; Laffont, Jean Jacques; Tirole, Jean (2001)
    This paper extends the theory of network competition between telecommunications operators by allowing receivers to derive a surplus from receiving calls (call externality) and to affect the volume of communications by ...
  • Moreno, Manuel (1997)
    This paper presents a two-factor (Vasicek-CIR) model of the term structure of interest rates and develops its pricing and empirical properties. We assume that default free discount bond prices are determined by the time ...
  • Canova, Fabio; López-Salido, David; Michelacci, Claudio (2006)
    We analyze the effects of neutral and investment-specific technology shocks on hours and output. Long cycles in hours are captured in a variety of ways. Hours robustly fall in response to neutral shocks and robustly increase ...
  • Moreno, Manuel; Navas, Javier R. (2001)
    This paper analyses the robustness of Least-Squares Monte Carlo, a technique recently proposed by Longstaff and Schwartz (2001) for pricing American options. This method is based on least-squares regressions in which ...
  • Bosch-Domènech, Antoni; Vriend, Nicolaas J. (2008)
    Considering a pure coordination game with a large number of equivalent equilibria, we argue, first, that a focal point that is itself not a Nash equilibrium and is Pareto dominated by all Nash equilibria, may attract the ...
  • Martin, Alberto; Vergote, Wouter (2005)
    This paper analyzes the role of retaliation in trade agreements. It shows that, in the presence of private information, retaliation can always be used to increase the welfare derived from such agreements by the participating ...
  • Alòs, Elisa; León, Jorge A.; Vives, Josep (2006)
    In this paper we use Malliavin calculus techniques to obtain an expression for the short-time behavior of the at-the-money implied volatility skew for a generalization of the Bates model, where the volatility does not need ...
  • Canova, Fabio; De Nicolo, Gianni (1999)
    This paper examines sources of cyclical movements in output, inflation and the term structure of interest rates. It employs a novel identification approach which uses the sign of the cross correlation function in ...

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