BackBrowsing DFAEII by Title
Now showing items 107-126 of 149
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Social Security, Education, Retirement and Growth
Iza Padilla, María Amaya
; Echevarría Olave, Cruz Ángel (University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-02)
In this paper we analyze the effects of social security policies in an unfunded, earnings-related social security system on the incentives to education investment and voluntary retirement, on growth and on income inequality. ... -
Strategic Behavior and Collusion: An Application to the Spanish Electricity Market
Ciarreta Antuñano, Aitor; Gutiérrez Hita, Carlos (University of the Basque Country, Department of Foundations of Economic Analysis II, 2005)
The paper has two major contributions to the theory of repeated games. First, we build a supergame oligopoly model where firms compete in supply functions, we show how collusion sustainability is affected by the presence ... -
Strategic Interaction and Conventions
Espinosa Alejos, María Paz; Kovarik, Jaromir ; Ponti, Giovanni (University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-06)
The scope of the paper is the literature that employs coordination games to study social norms and conventions from the viewpoint of game theory and cognitive psychology. We claim that those two alternative approaches are ... -
Strategic Votes and Sincere Counterfactuals
Artabe Echevarria, Alaitz; Gardeazabal, Javier (2013-11-07)
The Random Utility Model (RUM) of voting behavior can account for strategic voting by making use of proxy indicators that measure voter incentives to vote strategically. The contribution of this paper is to propose a new ... -
Switching Equilibria: The Present Value Model for Stock Prices Revisited
Gutiérrez Huerta, María José; Vázquez Pérez, Jesús (2002-07)
This paper analyzes the different dynamic features displayed by alternative RE equilibria and how these features change for small perturbations of the dividend process parameters. Using historical US data and structural ... -
Switching Regimes in the Term Structure of Interest Rates During U.S. Post-War: A case for the Lucas proof equilibrium?
Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-08)
Farmer (1991) suggests that in a model in which there are multiple rational expectations (RE) equilibria agents may find it useful to coordinate their expectations in a unique RE equilibrium which is immune to the Lucas ... -
Term Structure and the Estimated Monetary Policy Rule in the Eurozone
María-Dolores, Ramón; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2008)
In this paper we estimate a standard version of the New Keynesian Monetary (NKM) model augmented with term structure in order to analyze two issues. First, we analyze the effect of introducing an explicit term structure ... -
Terrorism and the World Economy
Abadie, Alberto; Gardeazabal, Javier (University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-10)
It has been argued that terrorism should not have a large effect on economic activity, because terrorist attacks destroy only a small fraction of the stock of capital of a country (see, e.g., Becker and Murphy, 2001). In ... -
Testing the Forecasting Performance of Ibex 35 Option-implied Risk-neutral Densities
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-01)The main objective of this paper is to test whether the risk-neutral densities (RNDs) implied in the prices of the future options contract on the Spanish IBEX 35 index accurately predict the distribution of future outcomes ... -
The Black Box of Mutual Fund Fees
Gil Bazo, Javier; Martínez Sedano, Miguel Ángel (University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)
This paper re-examines the determinants of mutual fund fees paid by mutual fund shareholders for management costs and other expenses. There are two novelties with respect to previous studies. First, each type of fee is ... -
The changing behaviour of the term structure of post-war US
Gutiérrez Huerta, María José; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
Using U.S. interest rate data covering the period 1950:1-1992:7, this paper tests the rational expectations model of the term structure of interest rates. We show evidence that the rational expectations model of the term ... -
The Comovement between Monetary and Fiscal Policy Instruments during the Post-War Period in the U.S.
Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-04)
This paper empirically studies the dynamic relationship between monetary and fiscal policies by analyzing the comovements between the Fed funds rate and the primary deficit/output ratio. Simple economic thinking establishes ... -
The Economic Cost of Armed Conflict
Gardeazabal, Javier; Vega Bayo, Ainhoa (2016-12-13)
This paper estimates the distribution of the effect of armed conflict on real GDP per capita and investment. For each conflict, we construct a synthetic control from a set of conflict-free countries that closely resembles ... -
The Effect of Data Revisions on the Basic New Keynesian Model
Vázquez Pérez, Jesús; María-Dolores, Ramón; Londoño Yarce, Juan Miguel (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
This paper proposes an extended version of the basic New Keynesian monetary (NKM) model which contemplates revision processes of output and inflation data in order to assess the importance of data revisions on the estimated ... -
The effect of firm-level contracts on the structure of wages: evidence from matched employer-employee data
Card, David E.; De la Rica Goiricelaya, Sara (University of the Basque Country, Department of Foundations of Economic Analysis II, 2004-10)
In Spain, as in several other European countries, sectoral bargaining agreements are automatically extended to cover all firms in an industry. Employers and employees can also negotiate firm-specific contracts. We use a ... -
The effect of flexibility in working hours on fertility: A comparative analysis of selected european countries
Ariza, Alfredo; De la Rica Goiricelaya, Sara; Ugidos Olazabal, Arantza (University of the Basque Country, Department of Foundations of Economic Analysis II, 2003-09)
The main aim of this paper is to measure the extent to which part-time work enhances fertility for married or cohabiting women of fertile age. The study covers eleven European countries. The data used are a pool sample of ... -
The Evaluation of Fisheries Management: A Dynamic Stochastic Approach
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2003-03)In this article, we analyze how to evaluate fishery resource management under “ecological uncertainty”. In this context, an efficient policy consists of applying a different exploitation rule depending on the state of the ... -
The Impact of Firm Level Contracting on Wage Levels and Inequality: Spain 1995-2002
De la Rica Goiricelaya, Sara; González de San Román Rosado, Ainara (University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-11)
This paper provides microeconomic evidence on the variation over time of the firm-specific wage premium in Spain from 1995 to 2002, and its impact on wage inequality. We make use of two waves of a detailed linked ... -
The Impact of Gender Segregation on Male-Female Wage Differentials
Amuedo Dorantes, Catalina; De la Rica Goiricelaya, Sara (University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-09)
This paper presents new evidence on the role of gender segregation and pay structure in explaining gender wage differentials of full-time salaried workers in Spain. Data from the 1995 and 2002 Wage Structure Surveys reveal ... -
The Impact of Regulation on Pricing Behavior in the Spanish Electricity Market
Ciarreta Antuñano, Aitor; Espinosa Alejos, María Paz (University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-06)
In this paper we measure the impact of regulatory measures which affected the Spanish electricity wholesale market in the period 2002-2005. Our approach is based on the fact that regulation changes firms' incentives and ...