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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 ...
Understanding the ex-ante cost of liquidity in the limit order book: A note
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-01)
This paper estimates a new measure of liquidity costs in a market driven by orders. It represents thecost of simultaneously buying and selling a given amount of shares, and it is given by a single measure of ex-ante liquidity ...
Asset pricing and systematic liquidity risk: an empirical investigation of the Spanish stock market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
Systematic liquidity shocks should affect the optimal behavior of agents in financial
markets. Indeed, fluctuations in various measures of liquidity are significantly
correlated across common stocks. Accordingly, this ...
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 ...
Computing abuse related damages in the case of new entry: An illustration for the Directory Enquiry Services market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2006-07)
A number of European countries, among which the UK and Spain, have opened up their Directory Enquiry Services (DQs, or 118AB) market to competition. We analyse the Spanish case, where both local and foreign firms challenged ...
Contributing to Fisheries Sustainability: Inequality Analysis in the High Seas Catches of Countries
(MDPI, 2019-06-01)
The uneven exploitation of scarce natural resources threatens their sustainability by altering the commitment of agents. In fisheries, a great portion of catches is known to be concentrated in a few countries. Aiming to ...
Three essays in macroeconomics
(2020-04-24)
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 ...
Cyclical Features of Uzawa-Lucas Endogenous Growth Model
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the cyclical properties of a generalized version of Uzawa-Lucas endogenous growth model. We study the dynamic features of different cyclical components of this model characterized by a variety of ...
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 ...