• Implications of market rating-based segmentation on intra-platform competition: an application to Airbnb's market in Barcelona

  Arenas, Paul; Paredes, Saúl (2021-07-14)

  In recent years, large platforms have raised concerns that they may engage in anticompetitive practices that affect the market competition. Therefore, analyze the competition structure inside platforms is a relevant issue ...
• Chilean fresh milk market: ex-post evaluation of competition authority's decisions

  Greene Morales, Elisa (2021-07-14)

  This report present a conceptual and empirical analysis of the Chilean Antitrust Authority's decision in the upstream dairy market. In 2004, the Antitrust Court decided that the biggest milk processors should not discriminate ...
• Green agreement in the electricity market: an ex-post evaluation of the 2013 Dutch coal power plants closure agreement

  Noviello, Ilaria; Tey, Shaun (2021-06)

  We undertook an ex-post analysis of a 2013 Agreement in the Netherlands to close five aging coal power plants in 2016 and 2017. First, we evaluate the Authority for Consumers and Markets’ (ACM) assumption that the plant ...
• Personality traits and mental health outcomes: the effect of the Covid-19 pandemic on young adults in the UK

  Akker, Ruben van den; Hammad, Nour; Marin, Alexandre (2021-07-24)

  Mental health outcomes significantly deteriorated in the United Kingdom as a result of the Covid-19 pandemic, particularly for younger individuals. This paper uses data from the Millennium Cohort Study to investigate the ...
• Deep vector autoregression for macroeconomic data

  Agustí, Marc; Altmeyer, Patrick; Vidal-Quadras, Ignacio (2021-07-20)

  Vector autoregression (VAR) models are a popular choice for forecasting of macroeconomic time series data. Due to their simplicity and success at modelling the monetary economic indicators VARs have become a standard tool ...
• Understanding latent vector arithmetic for attribute manipulation in normalizing flows

  Gimenez Funes, Eduard (2021)

  Normalizing flows are an elegant approximation to generative modelling. It can be shown that learning a probability distribution of a continuous variable X is equivalent to learning a mapping f from the domain where X is ...
• On the effects of sovereign debt volatility: a theoretical model

  Fernandez, Oscar; Fonseca, Sergio; Magnini, Gino; Marcelli Fabiani, Riccardo; Nobile, Claudia (2021-07-13)

  We construct a theoretical Overlapping Generations (OLG) model to describe how sovereign debt crises can propagate in the economy under certain financial constraints. When prices of bonds fall due to perceived sovereign ...
• Save the euro policy: European debt crisis and Covid-19 pandemic

  Ito, Hirotaka; Özen, Kadir (2021-07)

  2008-2009 Global Financial Crisis led to European debt crisis leaving the periphery of euro zone with very high borrowing costs compared to core countries. When Covid-19 Pandemic Crisis hit the economies, unconventional ...
• Gender gap and retirement decisions: the maternity pension supplement in Spain

  Casanova, Jorge Luis; Guias, Horia Bogdan; López, Carlos Javier; Salvanti, Andrea; Sewell, Patrick (2021-07-23)

  In line with the growing governmental efforts to reduce the gender income gap, in 2016 a retirement pension supplement for mothers of two or more children was introduced in Spain. Through an Oaxaca-Blinder decomposition ...
• The wisdom of the crowd: using ensemble machine learning techniques as an early warning indicator for systemic banking crises

  Lavagna, Gabriela; Patterson, Helena; Razmadze, Robizon (2021-07)

  We develop early warning models for systemic crises prediction using machine learning techniques on macrofinancial data for 36 countries for quarterly data spanning 1970-2013. Machine learning models outperform logistic ...
• Why is growth at risk?: the role of financial conditions in a dynamic factor approach

  Bini, Lapo; Mueck, Daniel (2021-05-30)

  In order to analyse whether financial conditions are relevant downside risk predictors for the 5% Growth at Risk conditional quantile, we propose a Dynamic Factor- GARCH Model, comparing it to the two most relevant approaches ...
• Scenario bias under IFRS 9 standards

  Ortiz de Zevallos, Alejandro (2021-06)

  IFRS 9, which changes the estimation of Loan Loss Provisions from an Incurred Loss model to an Expected Credit Loss model, entered into application in 2018. It changed the focus to a forward-looking perspective, which ...
• How earthquakes impact child development: evidence from Indonesia

  Blanchard, Thomas Jonathan Yasue; Masdottir, Katrin Svava; Schuelke, Lukas; Tully, Marc Robert (2021-06-11)

  Natural disasters frequently happen in Indonesia. However, the May 27, 2006 Yogyakarta earthquake still stands out with a magnitude of 6.3 on the Richter Scale. The total financial cost caused by the earthquake was US$ 3.1 ...
• Tracks to growth: does railway investment promote industrial development?

  Ng, Bryan; Gourevich, Isabella; Münch, Markus; Lim, Timothy (2021-06-11)

  In 2016, the first shipment left Ethiopia’s capital for Djibouti port, which handles 90% of Ethiopia’s international trade. The revolutionary 753km single-track electrified railway reduced the journey from 84 hours to 15 ...
• A departure from the sustainability approach: a structural debt level for EU countries

  Buades, Mercedes; Ibáñez, Lucía; Martínez, Andrés (2021-06)

  The reform of the European fiscal framework is a live debate and a need recently recognized by the European Commission. Surges in public debt as a result of the COVID-19 crisis intensify the debate, while the structural ...
• The role of pensions: exploring the link between pension funds, monetary policy and economic performance: a case study of the Netherlands

  Matthíasardóttir, Diljá; Zarges, Lara (2021-06-07)

  Shocks to the European Central bank’s unconventional monetary policy trigger Dutch pension funds to search for yield: A structural VAR analysis shows that the pension funds reallocate their asset holdings from bonds towards ...
• On the importance of soft skills in the U.S. labor market

  Biondi, Antonio; Kountoupis, Zacharias; Rabascall Costa, Joan; Solera, Marco (2020-07-14)

  This paper explores the role of soft skills in the U.S. labor market. According to the previous literature, these skills – also called non-cognitive- are crucial as they allow firms to lower coordination costs by trading ...
• Criminals or victims? : evidence on forced migration and crime from the Colombia–Venezuela border

  Dale, Maria; Gattorno, Giacomo; Osorio, André; Peers, Rebeca; Torres, Kerenny (2020-06)

  How does a sudden migrant crisis affect criminal activity, and through which mechanisms does this effect take place? We approach this topic by studying the effect of Venezuelan migration on crime rates in Colombia, in the ...
• The effectiveness of debt relief in mitigating the macroeconomic consequences of natural disasters

  Howard, Emma; Murphy, Kean; Nientker, Wouter; El-Ouaghlidi, Karim; Schmidt, Harry (2020-06-12)

  We employ a dynamic panel fixed effects model to assess the macroeconomic consequences of natural disasters in Africa and the effectiveness of debt relief in promoting post-disaster recovery. Our results show that floods ...
• A flexible fix? : assessing the labor market penalties to flexible working in Britain

  Lamb, Charlotte; Víglundsdóttir, Jana; Zicchieri, Alessandro (2020-06)

  This paper examines the wages and career prospects of employees in flexible work arrangements (FWAs). Using the British Household Panel Survey, we analyse the effect being in a FWA has on hourly wages and the likelihood ...

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