Economics and Business Working Papers Series: Recent submissions

  • Benigno, Gianluca; Fornaro, Luca (2015-01-01)
    We provide a Keynesian growth theory in which pessimistic expectations can lead to very persistent, or even permanent, slumps characterized by unemployment and weak growth. We refer to these episodes as stagnation traps, ...
  • Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; Saurina, Jesús (2013-05-01)
    We identify the effects of monetary policy on credit risk-taking with an exhaustive credit register of loan applications and contracts. We separate the changes in the composition of the supply of credit from the concurrent ...
  • Alaoui, Larbi; Germano, Fabrizio (2012-12-01)
    We develop a theory of news coverage in environments of information abundance. Time-constrained consumers browse through news items across competing outlets. They choose which outlets to access and which stories to read ...
  • Ventura, Jaume (2019-07-01)
    This paper develops a simple theoretical framework to study a set of regions, each with its own regional government, who share a union or central government. These governments must decide whether to implement or discard a ...
  • Martin, Simon; Shelegia, Sandro (2019-10-24)
    This paper presents a quality signaling model with consumer reviews. Reviews refl ect true quality as well as consumers' expectations of quality, improving with the former and worsening with the latter. Expectation-based ...
  • Hendel, Igal; Shapiro, Joel; Willen, Paul (2001-05-01)
    Since World War II, the United States government has made improved access to higher education a priority. This e¤ort has substantially increased the number of people who complete college. We show that by reducing the ...
  • Barnichon, Régis; Mesters, Geert (2020-04-01)
    Model mis-specification remains a major concern in macroeconomics, and policy makers must often resort to heuristics to decide on policy actions; combining insights from multiple models and relying on judgment calls. ...
  • Fornaro, Luca (2012-11-01)
    This paper provides a framework to understand debt deleveraging in a group of financially integrated countries. During an episode of international deleveraging, world consumption demand is depressed and the world interest ...
  • Baley, Isaac; Figueiredo, Ana; Ulbricht, Robert (2020-01-31)
    This paper studies the dynamics of skill mismatch over the business cycle. We build a tractable directed search model, in which workers differ in skills along multiple dimensions and sort into jobs with heterogeneous skill ...
  • Broner, Fernando; Martin, Alberto, 1974-; Ventura, Jaume (2020-02-01)
    We analyze the conduct of fiscal policy in a financially integrated union in the presence of financial frictions. Frictions create a wedge between the return to investment and the union interest rate. This leads to an ...
  • Bonfiglioli, Alessandra; Crinò, Rosario; Gancia, Gino A. (2014-12-01)
    We study the equilibrium determinants of firm-level heterogeneity in a model in which firms can affect the variance of their productivity draws at the entry stage and we explore the implications in closed and open economy. ...
  • Bellés-Obrero, Cristina; Cabrales, Antonio; Jiménez-Martín, Sergi; Vall-Castelló, Judit (2019-01-02)
    We explore the effects of a child labor regulation that changed the legal working age from 14 to 16 over the health of their offspring. We show that the reform was detrimental for the health of the son s of affected parents ...
  • Ganuza, Juan-José; Llobet, Gerard (2019-11-29)
    This paper shows that the concession model discourages firms from acquiring information about the future profitability of a project. Uninformed contractors carry out good and bad projects because they are profitable in ...
  • Germano, Fabrizio; Sobbrio, Francesco (2016-12-31)
    Ranking algorithms are the information gatekeepers of the Internet era. We develop a stylized framework to study the effects of ranking algorithms on opinion dynamics. We consider rankings that depend on popularity and on ...
  • Djourelova, Milena; Durante, Ruben, 1978- (2019-10-01)
    Do politicians tend to adopt unpopular policies when the media and the public are distracted by other events? We examine this question by analyzing the timing of the signing of executive orders (EOs) by U.S. presidents ...
  • Hurkens, Sjaak; Vulkan, Nir (1996-02-01)
    Before firms decide whether to enter a new market or not, they have the opportunity to buy information about several variables that might affect the profitability of this market. Our model differs from the existing literature ...
  • Bartlett, Peter; Linder, Tamas; Lugosi, Gábor (1997-01-01)
    We obtain minimax lower and upper bounds for the expected distortion redundancy of empirically designed vector quantizers. We show that the mean squared distortion of a vector quantizer designed from $n$ i.i.d. data points ...
  • Broner, Fernando; Clancy, Daragh; Martin, Alberto, 1974-; Erce, Aitor (2017-12-01)
    This paper explores a natural connection between fiscal multipliers and foreign holdings of public debt. Although fiscal expansions can raise domestic economic activity through various channels, they can also have crowding-out ...
  • Díaz-Giménez, Javier; Giovannetti, Giorgia; Marimon, Ramon; Teles, Pedro (2003-01-01)
    We study the effects of nominal debt on the optimal sequential choice of monetary policy. When the stock of debt is nominal, the incentive to generate unanticipated inflation increases the cost of the outstanding debt even ...
  • Garcia-Milà, Teresa; McGuire, Therese J. (1992-01-01)
    Suport Tecnologic a la Recerca Pàgina no trobada L'adreça de la pàgina a la qual voleu accedir no és correcta, o bé la destinació d'aquest enllaç ha canviat d'adreça. Podeu enviar un missatge al webmàster tot indicant quina ...

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