Articles (Departament d'Economia)

 

Articles de recerca, en accés obert, del Departament d'Ecomia de la UPF.

Recent Submissions

  • Gennaioli, Nicola; Martin, Alberto; Rossi, Stefano (Elsevier, 2018)
    This paper analyzes sovereign bondholdings by 20,000 banks in 191 countries and 20 sovereign default episodes over 1998–2012, establishing two robust facts. First, banks hold many government bonds (on average 9% of assets) ...
  • Desmet, Klaus; Nagy, Dávid Krisztián; Rossi-Hansberg, Esteban (University of Chicago Press, 2018)
    We develop a dynamic spatial growth theory with realistic geography. We characterize the model and its balanced-growth path and propose a methodology to analyze equilibria with different levels of migration frictions. ...
  • Benigno, Gianluca; Fornaro, Luca (Oxford University Press, 2018)
    We provide a Keynesian growth theory in which pessimistic expectations can lead to very persistent, or even permanent, slumps characterized by high unemployment and weak growth. We refer to these episodes as stagnation ...
  • Fornaro, Luca (Oxford University Press, 2018)
    This paper provides a framework to understand the adjustment triggered by an episode of debt deleveraging among financially integrated countries. During a period of international deleveraging, world consumption demand is ...
  • Abuka, Charles; Alinda, Ronnie K; Minoiu, Camelia; Peydró, José-Luis; Presbitero, Andrea F. (Elsevier, 2019)
  • Akin, Ozlem; Coleman, Nicholas S.; Fons-Rosen, Christian; Peydró, José-Luis (Wiley, 2018)
    To test for private information leakages from government to corporate executives, we exploit the 2008-2010 bank bailouts after Lehman’s failure using insider trading and political connections. In politically-connected ...
  • Jiménez, Gabriel; Mian, Atif; Peydró, José-Luis; Saurina, Jesús (Elsevier, 2019)
    We study bank credit booms, exploiting the Spanish matched credit register over 2001-2009. We extend Khwaja and Mian (2008)’s loan-level estimator by incorporating firm-level general equilibrium adjustments. Higher ex-ante ...
  • Abbassi, Puriya; Iyer, Rajkama; Peydró, José-Luis; Rodríguez-Tous, Francesc (Elsevier, 2016)
    We analyze securities trading by banks during the crisis and the associated spillovers to the supply of credit. We use a proprietary data set that has the investments of banks at the security level for 2005–2012 in conjunction ...
  • Ippolito, Filippo; Peydró, José-Luis; Polo, Andrea, 1983-; Sette, Enrico (Elsevier, 2016)
    By providing liquidity to depositors and credit-line borrowers, banks can be exposed to double-runs on assets and liabilities. For identification, we exploit the 2007 freeze of the European interbank market and the Italian ...
  • Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; Saurina, Jesús (University of Chicago Press, 2017)
    To study the impact of macroprudential policy on credit supply cycles and real effects, we analyze dynamic provisioning. Introduced in Spain in 2000, revised four times, and tested in its countercyclicality during the ...
  • Altavilla, Carlo; Boucinha, Miguel; Peydró, José-Luis (Oxford University Press, 2018)
    We analyse the impact of standard and non-standard monetary policy on bank profitability. We use both proprietary and commercial data on individual euro area bank balance-sheets and market prices. Our results show that a ...
  • Morais, Bernardo; Peydró, José-Luis; Roldán-Peña, Jessica; Ruiz-Ortega, Claudia (Wiley, 2018)
    We identify the international credit channel by exploiting Mexican supervisory data sets and foreign monetary policy shocks in a country with a large presence of European and U.S. banks. A softening of foreign monetary ...
  • Cervini-Plá, Maria; Silva, Jose I.; Vall Castelló, Judit (Springer, 2016)
    In this paper, we present a theoretical model along with an empirical model to identify the effects of disability on wages. From the theoretical model, we derive the hypothesis that only the temporary component of the wage ...
  • Gil-Bazo, Javier; Moreno, David; Tapia, Mikel; Abad, David (Taylor & Francis, 2007)
    En este trabajo se estudia la formación de precios en un mercado artificial de doble subasta continua con agentes heterogéneos, tanto en términos de eficiencia informativa como en términos de sus propiedades estadísticas. ...
  • Rossi, Barbara (Taylor & Francis, 2005)
    Existing point estimates of half-life deviations from purchasing power parity (PPP), around 3–5 years, suggest that the speed of convergence is extremely slow. This article assesses the degree of uncertainty around these ...
  • Celentani, Marco; Ganuza, Juan-José (Springer, 2002)
    We study bureaucratic corruption in a model in which a constituency sets required levels for a given set of activities. Each activity is carried out by an external provider and its realization is supervised by a bureaucrat. ...
  • Inoue, Atsushi; Rossi, Barbara, 1971- (Taylor & Francis, 2005)
    We propose a sequential test for predictive ability for recursively assessing whether some economic variables have explanatory content for another variable. In the forecasting literature it is common to assess predictive ...
  • Pesavento, Elena; Rossi, Barbara, 1971- (Cambridge University Press, 2005)
    This paper analyzes the robustness of the estimate of a positive productivity shock on hours to the presence of a possible unit root in hours. Estimations in levels or in first differences provide opposite conclusions. We ...
  • Farré, Lídia; González, Libertad; Ortega, Francesc (De Gruyter, 2011)
    We investigate the effect of immigration on the labor supply of skilled women, using data on Spain’s large recent immigration wave. We adopt a spatial correlations approach and instrument for current immigration using ...
  • Acemoglu, Daron; Gancia, Gino; Zilibotti, Fabrizio (Elsevier, 2010)
    We study a dynamic general equilibrium model where innovation takes the form of the introduction of new goods whose production requires skilled workers. Innovation is followed by a costly process of standardization, where ...

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