• Countercyclical liquidity policy and credit cycles : evidence from macroprudential and monetary policy in Brazil

  Barroso, João Barata R. Blanco; Gonzalez, Rodrigo Barbone; Peydró, José-Luis; Doornik, Bernardus F. Nazar Van (2020)

  We show that countercyclical liquidity policy smooths credit supply cycles, with stronger crisis effects. For identification, we exploit the Brazilian supervisory credit register and liquidity policy changes on reserve ...
• Reflexions sobre l'equitat des d'una perspectiva generacional

  López i Casasnovas, Guillem (2019-11)
• Uncertainty and unemployment

  Schaal, Edouard (2017-05)

  This paper studies the impact of time-varying idiosyncratic risk at the establishment level on aggregate unemployment fluctuations and on the labor market over the period 1972-2009. I build a tractable search-and-matching ...
• Uncertainty traps

  Fajgelbaum, Pablo; Schaal, Edouard; Taschereau-Dumouchel, Mathieu (2019)

  We develop a theory of endogenous uncertainty and business cycles in which short-lived shocks can generate long-lasting recessions. In the model, higher uncertainty about fundamentals discourages investment. Since agents ...
• Els reptes de futur del sector sanitari : la provisió pública desde la concertació sanitària

  López i Casasnovas, Guillem (2019-06)
• Aproximación a la atención primaria desde la perspectiva de la economía de la salud : a la búsqueda de apalancamientos positivos y de evitar fustraciones

  López i Casasnovas, Guillem (2019-10)
• Los cuidados de larga duración. Alternativas de financiación. Gravar el patrimonio para financiar la dependencia : una propuesta

  López i Casasnovas, Guillem (2019-07)

  En el texto que sigue argumento sobre los problemas de los cuidados de larga duración que requiere una sociedad envejecida y con prevalencia de situaciones de dependencia, y sus alternativas de financiación. Los mensajes ...
• Cuestiones no resueltas en economía de la salud aplicada al sector del medicamento

  López i Casasnovas, Guillem (2019-06)

  La Economía del Medicamento, por su especificidad, se ha convertido en un campo sustantivo de la Economía de la Salud. Una lectura y análisis de sus aportaciones recientes permite detectar una serie de cuestiones que ...
• Indicadores y políticas públicas. Objetivos de salud y realidades sanitarias (X)

  López i Casasnovas, Guillem (2019-05)

  Argumento. La elaboración de indicadores no debe hacerse desde un prejuicio para justificar una acción de política pública y montar en su entorno una panoplia de indicadores seleccionables ad hoc. Tampoco debe elaborarse ...
• Physical activity and mental health: a systematic review

  Maynou, Laia; Hernández-Pizarro, Helena M.; Herisson, Marlene; Saez, Marc (2019-03)

  Mental disorders are leading causes of ill-health and disability worldwide. Various factors influence mental health, such as lifestyle (diet, sport, alcohol and drug consumption), social environment/context, work conditions, ...
• Macroprudential and monetary policy: loan-level evidence from reserve requirements

  Dassatti Camors, Cecilia; Peydró, José-Luis; Rodriguez-Tous, Francesc (2019)

  We analyze the impact of reserve requirements on the supply of credit to the real sector. For identification, we exploit a tightening of reserve requirements in Uruguay during a global capital in ows boom, where the change ...
• Negative monetary policy rates and portfolio rebalancing: evidence from credit register data

  Bottero, Margherita; Minoiu, Camelia; Peydró, José-Luis; Polo, Andrea; Presbitero, Andrea F.; Sette, Enrico (2019)

  We study negative interest rate policy (NIRP) exploiting ECB’s NIRP introduction and administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary effects on credit supply—and hence the real ...
• Hedger of last resort: evidence from Brazilian FX interventions, local credit, and global financial cycles

  Gonzalez, Rodrigo Barbone; Khametshin, Dmitry; Peydró, José-Luis; Polo, Andrea (2019)

  We show that local central bank policies attenuate global financial cycle (GFC)’s spillovers. For identification, we exploit GFC shocks and Brazilian interventions in FX derivatives using three matched administrative ...
• Burning money? Government lending in a credit crunch

  Jiménez, Gabriel; Peydró, José-Luis; Repullo, Rafael; Saurina, Jesús (2018)

  We analyze a small, new credit facility of a Spanish state-owned-bank during the crisis, using its continuous credit scoring system, firm-level scores, and credit register data. Compared to privately-owned banks, the ...
• Do demand or supply factors drive bank credit, in good and crisis times?

  Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; Saurina, Jesús (2017)

  We analyze the impact of balance-sheet strength on credit availability. Bank balance sheets are weak in crisis times, but so are those of firms, and credit demand is then also weak. For identification, we exploit an ...
• International financial integration, crises and monetary policy: evidence from euro area interbank crises

  Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; Peydró, José-Luis (2018)

  We analyze how international financial integration is affected by the recent financial and sovereign crises, exploiting euro-area proprietary interbank data, crisis and monetary shocks, and loan terms to the same borrower ...
• Monetary policy at work: security and credit application registers evidence

  Peydró, José-Luis; Polo, Andrea; Sette, Enrico (2018)

  Monetary policy transmission may be impaired if banks rebalance their portfolios towards securities to pursue e.g. risk-shifting or liquidity hoarding. We identify the bank lending and risk-taking channels by exploiting – ...
• Anticipating the financial crisis: evidence from insider trading in banks

  Akin, Ozlem; Marín, José M.; Peydró, José-Luis (2019)

  Banking crises are recurrent phenomena, often induced by excessive bank risk-taking, which may be due to behavioral reasons (over-optimistic banks neglecting risks) and to agency problems between bank shareholders with ...
• The rise of shadow banking: evidence from capital regulation

  Irani, Rustom M.; Iyer, Rajkamal; Meisenzahl, Ralf R.; Peydró, José-Luis (2018)

  We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register ...
• From finance to fascism: the real effect of Germany’s 1931 banking crisis

  Doerr, Sebastian; Gissler, Stefan; Peydró, José-Luis; Voth, Hans-Joachim (2019)

  Do financial crises radicalize voters? We analyze a canonical case – Germany during the Great Depression. After a severe banking crisis in 1931, caused by foreign shocks and political inaction, radical voting increased ...

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