Departament d'Economia i Empresa

 

Documents de recerca, en accés obert, com ara working papers, informes de recerca, memòries tècniques, etc., del Departament d'Economia i Empresa de la UPF.

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  • Morais, Bernardo; Ormazabal, Gaizka; Peydró, José-Luis; Roa, Mónica; Sarmiento, Miguel (2020-08)
    We show corporate-level real, financial, and (bank) risk-taking effects associated with calculating loan provisions based on expected—rather than incurred—credit losses. For identification, we exploit unique features of a ...
  • Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis (2013-03)
    The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable country heterogeneity. Using detailed data on lending conditions and standards, we analyse how financial ...
  • Maddaloni, Angela; Peydró, José-Luis (2010-10)
    Using a unique dataset of the Euro area and the U.S. bank lending standards, we find that low (monetary policy) short-term interest rates soften standards, for household and corporate loans. This softening – especially for ...
  • Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, José-Luis (2010-06)
    Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using ...
  • Galí, Jordi; Gambetti, Luca (2020)
    The deep and prolonged recession triggered by the global financial crisis of 2007–2009 led to a large increase in the unemployment rate in most advanced economies. Ten years later, at the time of writing this paper, the ...
  • Malmendier, Ulrike; Pouzo, Demian; Vanasco, Victoria (2019-07-05)
    How do macro financial shocks affect investor behavior and market dynamics? Recent evidence on experience effects suggests a long-lasting influence of personally experienced outcomes on investor beliefs and investment but ...
  • Daley, Brendan; Green, Brett; Vanasco, Victoria (2019-06-20)
    We develop a framework to explore the effect of credit ratings on loan origination and securitization. In the model, banks privately screen and originate loans and then issue securities that are backed by loan cash flows. ...
  • Botsch, Matthew; Vanasco, Victoria (2018-03-09)
    This paper studies bank learning through repeated interactions with borrowers from a new per-spective. To understand learning by lending, we adapt a methodology from labor economics to analyze how loan contract terms evolve ...
  • Fajgelbaum, Pablo; Schaal, Edouard (2019-12)
    We study optimal transport networks in spatial equilibrium. We develop a framework consisting of a neoclassical trade model with labor mobility in which locations are arranged on a graph. Goods must be shipped through ...
  • García Gómez, Pilar; López, Ángel (2004-03-01)
    This paper reports an analysis of the evolution of equity in access to health care in Spain over the period 1987-2001, a time span covering the development of the modern Spanish National Health System. Our measures of ...
  • 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 ...
  • 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 ...
  • 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 ...
  • 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 ...
  • 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 ...
  • 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 ...
  • 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, ...

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