Browsing Recerca: working papers, informes, etc. by Title

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Browsing Recerca: working papers, informes, etc. by Title

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  • Arruñada, Benito (2003)
    Moral codes are produced and enforced by more or less specialized means and are subject to standard economic forces. This paper argues that the intermediary role played by the Catholic Church between God and Christians, a ...
  • Ellman, Matthew (2004)
    Previous analysis has shown that traders may opt for specific technologies with no joint productivity advantage as a way to commit themselves to trading jointly, but only when long-term contracting is infeasible. This paper ...
  • Barillas, Francisco; Nimark, Kristoffer (2012)
    An affine asset pricing model in which agents have rational but heterogeneous expectations about future asset prices is developed. We estimate the model using data on bond yields and individual survey responses from the ...
  • Nimark, Kristoffer (2009)
    When long maturity bonds are traded frequently and rational traders have non-nested information sets, speculative behavior arises. Using a term structure model displaying such speculative behavior, this paper demonstrates ...
  • Marín, José M.; Rahi, Rohit (1997)
    A speculative security is an asset whose payoff depends on a random shock uncorrelated with economic fundamentals (a sunspot) about which some traders have superior information. In this paper we show that agents may ...
  • Marcet, Albert; Sargent, Thomas J. (1992)
    This paper fills a gap in the existing literature on least squares learning in linear rational expectations models by studying a setup in which agents learn by fitting ARMA models to a subset of the state variables. This ...
  • Leunig, Tim; Voth, Joachim (2011)
    Economists and economic historians want to know how much better life is today than in the past. Fifty years ago economic historians found surprisingly small gains from 19th century US railroads, while more recently economists ...
  • Costain, James S.; Reiter, Michael (2004)
    We construct and calibrate a general equilibrium business cycle model with unemployment and precautionary saving. We compute the cost of business cycles and locate the optimum in a set of simple cyclical fiscal policies. ...
  • Evans, George W.; Honkapohja, Seppo; Marimon, Ramon (2004)
    We analyze a monetary model with flexible labor supply, cash-inadvance constraints and seigniorage-financed government deficits. If the intertemporal elasticity of substitution of labor is greater than one, there are two ...
  • Cespa, Giovanni; Cestone, Giacinta (2002)
    We argue that when stakeholder protection is left to the voluntary initiative of managers, concessions to social activists and pressure groups can turn into a self-entrenchment strategy for incumbent CEOs. Stakeholders ...
  • Gennaioli, Nicola; Perotti, Enrico (2009)
    We model the different ways in which precedents and contract standardization shape the development of markets and the law. In a setup where more resourceful parties can distort contract enforcement to their advantage, we ...
  • Fernández, Patricio A.; Ponzetto, Giacomo A. M. (2009)
    Stare decisis allows common law to develop gradually and incrementally. We show how judge-made law can steadily evolve and tend to increase efficiency even in the absence of new information. Judges' opinions must argue ...
  • Ciccone, Antonio; Matsuyama, Kiminori (1995)
    We use a dynamic monopolistic competition model to show that an economy that inherits a small range of specialized inputs can be trapped into a lower stage of development. The limited availability of specialized inputs forces ...
  • Estapé Triay, Salvador (1999)
    The decade of the 1940s was one of the darkest periods in the country's history, with years of famine, repression, general misery, and impoverishment of all aspects of national life ranging from culture to the economy. ...
  • Gennaioli, Nicola; Voth, Joachim (2011)
    In 1500, Europe was composed of hundreds of statelets and principalities, with weak central authority, no monopoly over the legitimate use of violence, and overlapping jurisdictions. By 1800, only a handful of powerful, ...
  • Delicado, Pedro (1998)
    Connections between Statistics and Archaeology have always appeared very fruitful. The objective of this paper is to offer an outlook of some statistical techniques that are being developed in the most recent years and ...
  • Romano, Joseph P.; Wolf, Michael (2003)
    It is common in econometric applications that several hypothesis tests are carried out at the same time. The problem then becomes how to decide which hypotheses to reject, accounting for the multitude of tests. In this ...
  • Caballé, Jordi; Esteban, Joan (2002)
    In this paper we proose the infimum of the Arrow-Pratt index of absolute risk aversion as a measure of global risk aversion of a utility function. We then show that, for any given arbitrary pair of distributions, there exists ...
  • Germano, Fabrizio (2004)
    The evolution of boundedly rational rules for playing normal form games is studied within stationary environments of stochastically changing games. Rules are viewed as algorithms prescribing strategies for the different ...
  • Cabrales, Antonio (1993)

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