BackBrowsing DFAEII by Title
Now showing items 76-95 of 149
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On the Benefits of Including Age-structure in Harvest Control Rules
(2014-08-27)This paper explores the benefits of including age-structure in the control rule (HCR) when decision makers regard their (age-structured) models as approximations. We find that introducing age structure into the HCR reduces ... -
On the Informational Role of Term Structure in the U.S. Monetary Policy Rule
Vázquez Pérez, Jesús
; María-Dolores, Ramón; Londoño Yarce, Juan Miguel (University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-01)
This paper uses a structural approach based on the indirect inference principle to estimate a standard version of the new Keynesian monetary (NKM) model augmented with term structure using both revised and real-time data. ... -
On the strategic equivalence of multiple-choice test scoring rules
Espinosa Alejos, María Paz; Gardeazabal, Javier (University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-12)
A disadvantage of multiple-choice tests is that students have incentives to guess. To discourage guessing, it is common to use scoring rules that either penalize wrong answers or reward omissions. These scoring rules are ... -
Optimal Correction for Guessing in Multiple-Choice Tests
Espinosa Alejos, María Paz; Gardeazabal, Javier (University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-12)
Building on Item Response Theory we introduce students’ optimal behavior in multiple-choice tests. Our simulations indicate that the optimal penalty is relatively high, because although correction for guessing discriminates ... -
Optimal fiscal policy in a multisector model with minimum expenditure requirements
; Gorostiaga Alonso, Miren Arantzazu (University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-03)
This paper investigates optimal fiscal policy in a static multisector model. A Ramsey type planner chooses tax rates on each good type as well as spending levels on each good type subject to an exogenous total expenditure ... -
Optimal Fiscal Policy with Rationing in the Labor Market
Gorostiaga Alonso, Miren Arantzazu (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper characterizes the optimal fiscal policy when it is assumed that there exists a minimum wage below which no worker can be hired. The rigidity due to the minimum wage legislation can lead to equilibria in which ... -
Optimal Minimum Wage in a Competitive Economy: an Alternative Modelling Approach
Gorostiaga Alonso, Miren Arantzazu; Rubio-Ramírez, Juan F. (University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)
This paper analyzes whether a minimum wage can be an optimal redistribution policy when distorting taxes and lump-sum transfers are also available in a competitive economy. We build a static general equilibrium model with ... -
Optimal Monetary Policy with Asymmetric Preferences for Output
Cassou, Steven P.; Scott, Patrick; Vázquez Pérez, Jesús (2012-11-15)
Using a model of an optimizing monetary authority which has preferences that weigh inflation and unemployment, Ruge-Murcia (2003, 2004) finds empirical evidence that the authority has asymmetric preferences for ... -
Optimal overall emissions taxation in durable goods oligopoly
Sagasta Elorza, Amagoia; Usategui Díaz de Otalora, José María (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
We analyze optimal second-best emission taxes in a durable good industry under imperfect competition. The analysis is performed for three different types of emissions and for situations where the good is rented, sold or ... -
Option-Implied Preferences Adjustments and Risk-Neutral Density Forecasts
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-06)The main objective of this paper is to analyse the value of information contained in prices of options on the IBEX 35 index at the Spanish Stock Exchange Market. The forward looking information is extracted using implied ... -
Personal identity. A theoretical and experimental analysis
Aguiar, Fernando; Brañas Garza, Pablo; Espinosa Alejos, María Paz; Miller Moya, Luis Miguel (University of the Basque Country, Department of Foundations of Economic Analysis II, 2009)
This paper aims to analize the role of personal identity in altruism. To this end, it starts by reviewing critically the growing literature on economics and identity. Considering the ambiguities that the concept of social ... -
Policy Coordination in an Oligopolistic Housing Market
Saracho de la Torre, Ana Isabel; Usategui Díaz de Otalora, José María (University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-03)
This paper analyzes the consequences of the interaction between two different levels of government (regulators) in the development of housing policy when their decisions determine the level of competition in the housing ... -
Population age structure and private consumption in Spain
Eguía Peña, María Begoña; Echevarría Olave, Cruz Ángel (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
In this paper we study the effect of population age distribution upon private consumption expenditure in Spain from 1964 to 1997 using aggregate data. We obtain four main results. First, changes in the population pyramid ... -
Prices and the Real Exchange Rate in Hong Kong: 1985-2006
Echeverria Garaigorta, Paulina Elisa; Iza Padilla, María Amaya (University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-11)
This paper seeks to quantify to the extent to which price dynamics in Hong Kong are due to the Balassa-Samuelson hypothesis. From 1985 to 1998, the CPI in Hong Kong increased spectacularly, yet there was dramatic deflation ... -
Product Differentiation with Consumer Arbitrage
Aguirre Pérez, Iñaki; Espinosa Alejos, María Paz (2003-03)
We analyze the consequences of consumers behavior concerning personal arbitrage in a spatial discrimination context where firms know the consumers distribution but cannot distinguish them by location. The firms' equilibrium ... -
Prosocial norms and degree heterogeneity in social networks
Kovarik, Jaromir; Brañas Garza, Pablo; Cobo-Reyes, Ramón; Espinosa Alejos, María Paz ; Jiménez, Natalia; Ponti, Giovanni (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
We provide empirical evidence to support the claims that social diversity promotes prosocial behavior. We elicit a real-life social network and its members’ adherence to a social norm, namely inequity aversion. The data ... -
Pulse vs. Optimal Stationary Fishing: The Northern Stock of Hake
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2011-11)Pulse fishing may be a global optimal strategy in multicohort fisheries. In this article we compare the pulse fishing solutions obtained by using global numerical methods with the analytical stationary optimal solution. ... -
R&D Policy in Economies with Endogenous Growth and Non-Renewable Resources
Agnani, Betty; Gutiérrez Huerta, María José; Iza Padilla, María Amaya (University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-10)
The aim of this paper is to analyze how active R&D policies affect the growth rate of an economy with endogenous growth and non-renewable resources. We know from Scholz and Ziemens (1999) and Groth (2006) that in infinitely ... -
Reconciling yield stability with international fisheries agencies precautionary preferences: the role of non constant discount factors in age structured models
(2015)International fisheries agencies recommend exploitation paths that satisfy two features. First, for precautionary reasons exploitation paths should avoid high fishing mortality in those fisheries where the biomass is ... -
Reference Points and Optimal Management in Stochastic Age-Structured Fisheries Models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2009-07)The purpose of this article is to characterize dynamic optimal harvesting trajectories that maximize discounted utility assuming an age-structured population model, in the same line as Tahvonen (2009). The main novelty of ...