Recerca: working papers, informes, etc.: Recent submissions

  • Arruñada, Benito (2015-03-01)
    The chapter analyzes the basis of the market economy in classical Rome, from the perspective of personal vs impersonal exchange and focusing on the role of the state in providing market-enabling institutions. It starts by ...
  • Ponzetto, Giacomo A. M.; Glaeser, Edward L. (2017-01-01)
    Will politics lead to over-building or under-building of transportation projects? In this paper, we develop a model of infrastructure policy in which politicians overdo things that have hidden costs and underperform tasks ...
  • 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 ...
  • Bonfiglioli, Alessandra; Gancia, Gino (2013-10-01)
    We propose a model in which differences in socioeconomic and labor market outcomes between ex-ante identical countries can be generated as multiple equilibria sustained by different beliefs on the value of effort for finding ...
  • López, Guillem; Mosterin, Ana (2006-11-01)
    The demographic shift underway in Southern Europe requires a revision of some of the fundamental principles of the traditional welfare state. We analyze the evolution of several aspects of welfare and social expenditure ...
  • Arruñada, Benito (2000-01-01)
    The paper explores an efficiency hypothesis regarding the contractual process between large retailers, such as Wal-Mart and Carrefour, and their suppliers. The empirical evidence presented supports the idea that large ...
  • Germano, Fabrizio; Lugosi, Gábor (2005-10-01)
    We show that every finite N-player normal form game possesses a correlated equilibrium with a precise lower bound on the number of outcomes to which it assigns zero probability. In particular, the largest games with a ...
  • 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, ...
  • Llavador, Humberto (2001-09-01)
    Recent studies of American politics evidence that political polarization of both the electorate and the political elite have moved 'almost in tandem for the past half century' (McCarty et al., 2003, p.2), and that party ...
  • Freixas, Xavier (2003-02-01)
    We survey the theory of banking regulation from the general perspective of regulatory theory. Starting by considering the different justifications of financial intermediation, we proceed to identify the market failures ...
  • 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 ...
  • Biais, Bruno; Foucault, Thierry; Salani, François (1995-12-01)
    Recent empirical findings suggest that spreads quoted in dealership markets might be uncompetitive. This paper analyzes theoretically if price competition between risk--averse market--makers leaves room for implicit collusive ...
  • 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 ...
  • 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 ...
  • 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 ...
  • Arruñada, Benito; Garicano, Luis; Vázquez, Luis (1999-10-01)
    We analyze empirically the allocation of rights and monetary incentives in automobile franchise contracts. These contracts substantially restrict the decision rights of dealers and grant manufacturers extensive contractual ...
  • 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 ...
  • 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, ...
  • 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 ...

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