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- Browsing Working Papers CREI (Centre de Recerca en Economia Internacional) by Issue Date
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Browsing Working Papers CREI (Centre de Recerca en Economia Internacional) by Issue Date
Now showing items 21-34 of 34
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(2022-07)We develop a general theory of state-dependent fiscal multipliers in a framework featuring two empirically relevant frictions: idle capacity and unsatisfied demand. Our key novel finding is that the source of fluctuations ...
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(2022-08)We study optimal Pareto-improving factor taxation when agents are heterogeneous in their labor productivity and wealth and markets are complete. Pareto-improving policies require a gradual reform: labor taxes should be ...
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(2022-09)We provide a framework in which monetary policy affects firms’ automation decisions (i.e. how intensively capital and labor are used in production). This new feature has far-reaching consequences for monetary policy. ...
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(2023-02-06)We use the new dataset of trade flows across 269 European regions in 24 countries constructed in Santamaría et al. (2020) to systematically explore for the first time trade patterns within and across country borders. We ...
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(2023-03)We study the effects of supply disruptions - for instance due to energy price shocks or the emergence of a pandemic - in an economy with Keynesian unemployment and endogenous productivity growth. By temporarily disrupting ...
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(2023-03)Poor performance by the established political class can drive voters towards antiestablishment outsiders. Is the ineffectiveness of incumbent politicians an important driver of the recent rise of populist parties? We provide ...
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(2023-04-17)Many countries implemented large-scale programs to guarantee private credit in response to the outbreak of COVID-19. Yet the role of banks in allocating guarantees – and thus in shaping their effects – is not well understood. ...
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(2023-06)We study optimal monetary policy during times of exceptionally high global demand for tradable goods, relative to non-tradable ones. The optimal monetary response entails a rise in inflation, which helps rebalance production ...
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(2023-06)This paper presents novel stylized facts about the rise of the South in global finance using country-to-country data. To do so, the paper assembles comprehensive bilateral data on cross-border bank loans and deposits, ...
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(2023-06-29)How do political preferences shape transportation policy? We study this question in the context of California’s High-Speed Rail (CHSR). Combining geographic data on votes in a referendum on the CHSR with a model of its ...
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(2023-07)We study the role of idiosyncratic income risk for aggregate fluctuations within a simple heterogeneous households framework. We show that the presence of idiosyncratic income shocks affects the economy’s response to an ...
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(2023-07-03)This paper studies how cities’ industrial structure shapes their life and death. Our analysis exploits the large heterogeneity in the early composition of English and Welsh cities. We extract built-up clusters from early ...
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(2023-08-03)Are country borders still an impediment to trade flows within Europe? Using a microlevel survey with 3 million annual shipments of goods, we construct a matrix of bilateral trade for 269 European regions. Take two similar ...
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(2023-10)Since the late 1990s, the United States has received large capital flows from developing countries - a phenomenon known as the global saving glut - and experienced a productivity growth slowdown. Motivated by these facts, ...
Now showing items 21-34 of 34
