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Systematic liquidity: commonality and inter-temporal variation in the Portuguese stock market
(Instituto de Economía Aplicada a la Empresa (Universidad del País Vasco UPV/EHU), 2015-10-06)
[EN] The aim of this paper is to study systematic liquidity at the Euronext Lisbon Stock Exchange. The motivation for this research is provided by the growing interest in financial literature about stock liquidity and the ...
Fiscal Policy and Economic Stability: Does PIGS stand for Procyclicality In Government Spending?
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-12)
The Financial Crisis has hit particularly hard countries like Ireland or Spain. Procyclical fiscal policy has contributed to a boom-bust cycle that undermined fiscal positions and deepened current account deficits during ...
Long-Term Growth and Persistence with Endogenous Depreciation: Theory and Evidence
(Departamento de Fundamentos dle Análisis Económico I, 2013)
Previous research has shown a strong positive correlation between short-term
persistence and long-term output growth as well as between depreciation rates
and long-term output growth. This evidence, therefore, contradicts ...
Can the change in the composition of the US GDP explain the Great Moderation? A test via oil price shocks
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
The paper investigates whether the growing GDP share of the services sector can contribute to explain the great moderation in the US. We identify and analyze three oil price shocks and use a SVAR analysis to measure their ...
Paper unemployment: the irish experience
(Escuela Universitaria de Estudios Empresariales, 1996)
When asked to give a paper at this conference I choosee "Incentive to encourage youth employment" but very soon into my research I felt that the overall approach to unemployment by succesive Irish Governments offered more ...
Unemployment rates and population changes in Spain
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
This paper discusses the long run effect of changes in the age distribution of Spanish population on the unemployment rate, disaggregated by sex and age segments in the light of cointegration theory given the non stationarity ...
Population age structure and private consumption in Spain
(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 ...
Should Fiscal Policy be different in a Non-Competitive Framework?
(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 ...
Optimal Minimum Wage in a Competitive Economy: an Alternative Modelling Approach
(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 Fiscal Policy with Rationing in the Labor Market
(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 ...