Now showing items 100-119 of 149

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      Second-best tax policy in a growing economy with externalities 

      Cassou, Steven P.; Gorostiaga Alonso, Miren Arantzazu; Gutiérrez Huerta, María José; Hamilton, Stephen F. (University of the Basque Country, Department of Foundations of Economic Analysis II, 2006-10)
      This paper investigates the exploitation of environmental resources in a growing economy within a second-best scal policy framework. Agents derive utility from two types of consumption goods one which relies on an ...
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      Selectivity, pulse fishing and endogenous lifespan in Beverton-Holt models 

      Da Rocha, José María; Gutiérrez Huerta, María José; Antelo, Luis T. (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
      Optimal management in a multi-cohort Beverton-Holt model with any number of age classes and imperfect selectivity is equivalent to finding the optimal fish lifespan by chosen fallow cycles. Optimal policy differs in two ...
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      Should Fiscal Policy be different in a Non-Competitive Framework? 

      Gorostiaga Alonso, Miren Arantzazu (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
      This paper studies if imperfections in the labor market justify a different fiscal policy. We present a dynamic general equilibrium model with a Ramsey planner deciding about public spending, labor taxes and debt. Two ...
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      Skill premium effects on fertility and female labor force supply 

      Iza Padilla, María Amaya; Ferrero Martínez, Dolores (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
      In the last twenty years the United States has seen a positive relationship between female labor supply and total fertility rates, which differs from the pattern observed over the preceding years. We construct a general ...
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      Smiling under stochastic volatility 

      León, Angel; Rubio Irigoyen, Gonzalo (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
      This paper studies the behavior of the implied volatility function (smile) when the true distribution of the underlying asset is consistent with the stochastic volatility model proposed by Heston (1993). The main result ...
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      Social Housing under Oligopoly 

      Usategui Díaz de Otalora, José María (University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-03)
      In this paper it is shown that the setting up of a social housing system may decrease the total number of houses built in the market, induce a price of non-social houses greater than the price of houses without that system ...
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      Social Interactions and Subjective Well-Being: Evidence from Latin America 

      Ateca Amestoy, Victoria María; Cortés Aguilar, Alexandra; Moro-Egido, Ana I. (University of the Basque Country, Department of Foundations of Economic Analysis II, 2011-11)
      In this paper, we seek to examine the effect of comparisons and social capital on subjective well-being. Furthermore, we test if, through social influence and exposure, social capital is either an enhancer or appeaser of ...
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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. ...
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      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 ...
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      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 ...
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      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 ...
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      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 ...
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      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 ...
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      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 ...
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      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 ...
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      Testing the Forecasting Performance of Ibex 35 Option-implied Risk-neutral Densities 

      Alonso, Francisco; Blanco, Roberto; Rubio Irigoyen, Gonzalo (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 ...
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      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 ...
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      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 ...
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      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 ...
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      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 ...