BackBrowsing DFAEII by Title
Now showing items 114-133 of 149
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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 ... -
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 ... -
The Importance of Stock Market Returns in Estimated Monetary Policy Rules: a Structural Approach
Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2006)
This paper estimates a standard version of the New Keynesian Monetary (NKM) model augmented with financial variables in order to analyze the relative importance of stock market returns and term spread in the estimated U.S. ... -
The New Keynesian Monetary Model: Does it Show the Comovement Between Output and Inflation in the U.S.?
María-Dolores, Ramón; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)
This paper analyzes the performance of alternative versions of the New Keynesian monetary (NKM) model in order to replicate the comovement observed between output and inflation during the Greenspan era. Following Den Haan ... -
The Optimality of the Common Fisheries Policy: the Northern Stock of Hake
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits ... -
The Relationship between Risk and Expected Return in Europe
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-01)We employ MIDAS (Mixed Data Sampling) to study the risk-expected return trade-off in several European stock indices. Using MIDAS, we report that, in most indices, there is a significant and positive relationship between ... -
The Relevance of Relative Position in Ultimatum Games
Miller Moya, Luis Miguel; Ubeda Molla, Paloma (University of the Basque Country, Department of Foundations of Economic Analysis II, 2014)
This paper investigates the effect of focal points and initial relative position in the outcome of a bargaining process. We conduct two on-line experiments. In the first experiment we attempt to replicate Güth, Huck and ... -
The role of personal involvement and responsibility in dictatorial allocations: A classroom experiment
Brañas Garza, Pablo; Durán, Miguel A.; Espinosa Alejos, María Paz (University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-08)
This paper explores the motivations behind giving. Specifically, it focuses on personal involvement and responsibility to explain why decision makers give positive amounts in dictatorial decisons. The experiment is designed ... -
The role of the term spread in an augmented Taylor rule: An empirical investigation
Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2003-04)
Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of an augmented version of the Taylor rule (ATR) that (i) allows for the presence of switching regimes, (ii) considers the ...