Search
Now showing items 31-40 of 56
Discounting future pain: Effects on self-reported pain
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-07)
Empirical results are presented showing that people who acknowledge pain anticipation when expecting an injury experience higher sensitivity to pain (GREP, Robinson et al., 2001). The positive correlation between sensitivity ...
Time discounting (delta) and pain anticipation: Experimental evidence
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-11)
This paper deals with pain anticipation experienced before medical procedures. Our experimental results show that individuals with lower discount factors are more prone to suffer pain in advance. We provide a framework to ...
The Economic Cost of Armed Conflict
(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 ...
Individual notions of distributive justice and relative economic status
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2011-09)
We present two experiments designed to investigate whether individuals’ notions of distributive justice are associated with their relative (within-society) economic status. Each participant played a specially designed ...
Group size and decision rules in legislative bargaining
(2014-03-17)
We conduct experiments to investigate the effects of different majority requirements on bargaining outcomes in small and large groups. In particular, we use a Baron-Ferejohn protocol and investigate the effects
of decision ...
Business cycles in a small open economy: The case of Hong Kong
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2011-12)
This paper analyzes the business cycle properties of the Hong Kong economy during the 1982-2004 period, which includes the financial crisis experienced in 1997-98. We show that output, output growth rate and real interest ...
New Keynesian Model Features that Can Reproduce Lead, Lag and Persistence Patterns
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-04)
This paper uses a new method for describing dynamic comovement and persistence in economic time series which builds on the contemporaneous forecast error method developed in den Haan (2000). This data description method ...
Optimal Monetary Policy with Asymmetric Preferences for Output
(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 ...
The Effect of Data Revisions on the Basic New Keynesian Model
(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 ...
Data Revisions in the Estimation of DSGE Models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
Revisions of US macroeconomic data are not white-noise. They are persistent, correlated
with real-time data, and with high variability (around 80% of volatility observed in US real-time
data). Their business cycle effects ...