Recerca: working papers, informes, etc.

Recent Submissions

  • Garcia Montalvo, José; Piolatto, Amedeo; Raya, Josep M. (2019-03-01)
    We model the behaviour of a buyer trying to evade the real estate transfer tax. We identify over-appraisal as a key, easily-observable element that is inversely related with tax evasion. We conclude that the tax authority ...
  • Djourelova, Milena (2020-05-02)
    Can the language used by mass media to cover policy relevant issues affect readers' policy preferences? I examine this question for the case of immigration, exploiting an abrupt ban on the term "illegal immigrant" in wire ...
  • Garcia Montalvo, José; Reynal-Querol, Marta (2019-03-01)
    In this paper we analyze the effect of loan offcers' gender on the approval of loans and, in particular, on their subsequent performance. Using detailed bank information on a sample of close to half a million loans, we ...
  • Cerigioni, Francesco (2019-10-11)
    Evidence from the cognitive sciences suggests that some choices are conscious and reflect individual volition while others tend to be automatic, being driven by analogies with past experiences. Under these circumstances, ...
  • Banal-Estañol, Albert; Macho-Stadler, Inés; Pérez-Castillo, David (2019-05-02)
    Funding agencies tend to allocate (scarce) resources using a bottom-up competitive process. This paper analyzes the determinants and the consequences of the choices made in each of the stages of the funding process. We ...
  • Billi, Roberto M.; Galí, Jordi (2018-12-01)
    We analyze the welfare impact of greater wage flexibility while taking into account explicitly the existence of the zero lower bound (ZLB) constraint on the nominal interest rate. We show that the ZLB constraint generally ...
  • 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 ...
  • Asriyan, Vladimir; Vanasco, Victoria (2019-11-01)
    We revisit the classic problem of a seller (e.g. firm) who is privately informed about her asset and needs to raise funds from uninformed buyers (e.g. investors) by issuing securities backed by her asset cash flows. In our ...
  • 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 ...
  • Jimenez, Gabriel; Ongena, Steven; Peydró, José-Luis; Saurina, Jesús (2010-09-01)
    We analyze the impact of monetary policy on the supply of bank credit. Monetary policy affects both loan supply and demand, thus making identification a steep challenge. We therefore analyze a novel, supervisory dataset ...
  • 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 ...
  • Broner, Fernando; Martin, Alberto; 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 ...
  • 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 ...
  • Bellés-Obrero, Cristina; Cabrales, Antonio; Jiménez-Martín, Sergi; Vall Castello, 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 ...
  • Djourelova, Milena; Durante, Ruben (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 ...
  • 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. ...
  • 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 ...
  • Broner, Fernando; Clancy, Daragh; Martin, Alberto; 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 ...
  • Alaoui, Larbi; Penta, Antonio (2018-10-08)
    When an individual thinks about a problem, his decision to reason further may involve a tradeo between cognitive costs and a notion of value. But it is not obvious that this is always the case, and the value of reasoning ...
  • Arruñada, Benito (2019-11-01)
    Experience is a major source of knowledge. Could institutions be improved by eliciting the additional knowledge held by experienced individuals? I show here that in several areas of the law experienced individuals are more ...

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