Title:Money, Financial Stability and Efficiency
Author(s):ALLEN, Franklin; CARLETTI, Elena; GALE, DouglasDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Most analyses of banking crises assume that banks use real contracts. However, in practice contracts are nominal and this is what is assumed here. We consider a standard banking model with aggregate return risk, aggregate ...
Title:A Monthly Indicator of the Euro Area GDP
Author(s):FRALE, Cecilia; MARCELLINO, Massimiliano; MAZZI, Gian Luigi; PROIETTI, TommasoDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:A continuous monitoring of the evolution of the economy is fundamental for the decisions of public and private decision makers. This paper proposes a new monthly indicator of the euro area real Gross Domestic Product (GDP), ...
Title:Moral and Social Constraints to Strategic Default on Mortgages
Author(s):GUISO, Luigi; SAPIENZA, Paola; ZINGALES, LuigiDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We use survey data to study American households‘ propensity to default when the value of their mortgage exceeds the value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% ...
Title:More Equal but Less Mobile?: Education Financing and Intergenerational Mobility in Italy and in the US
Author(s):ICHINO, Andrea; CHECCHI, Daniele; RUSTICHINI, AldoDate:1999Type of Publication:ArticleAbstract:A centralised and egalitarian school system reduces the cost of education for poor families, and so it should reduce income inequality and make intergenerational mobility easier. In this paper we provide evidence that ...
Title:More Secrecy...More Knowledge Disclosure? On Disclosure Outside of Patents
Author(s):PONCE, Carlos J.Date:2008Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:It is an important concern that innovators by waiving their patent rights might obstruct
the disclosure of knowledge and therefore retard progress. This paper explores this
concern by using a simple model of two innovators ...
Title:Mortality and Morbidity Transitions in Sub-Saharan Africa: Evidence from Adult Height
Author(s):AKACHI, Yoko; CANNING, DavidDate:2008Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:In most developing countries, rising levels of nutrition and improvements in public health have led to declines in infant mortality and rising adult height. In Sub-Saharan Africa, however, we see a different pattern. ...
Title:Mothers in An Insider-Outsider Economy: the Puzzle of Spain
Author(s):ADAM-BERNAD, PaulaDate:1996Type of Publication:ArticleAbstract:There is growing evidence that social policies towards mothers have important effects on their labour market behaviour. This article argues that these effects are less important in a Male Breadwinner Regime if there is ...
Title:The Multiscale Causal Dynamics of Foreign Exchange Markets
Author(s):BEKIROS, Stelios D.; MARCELLINO, MassimilianoDate:2011Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper relies on wavelet multiresolution analysis to capture the dependence structure of currency markets and reveal the complex dynamics across different timescales. It investigates the nature and direction of causal ...
Title:The multiscale causal dynamics of foreign exchange markets
Author(s):BEKIROS, Stelios; MARCELLINO, MassimilianoDate:2013Type of Publication:ArticleAbstract:This paper relies on wavelet multiresolution analysis to investigate the dependence structure and predictability of currency markets across different timescales. It explores the nature and direction of causality among the ...