Title:A Trust-Driven Financial Crisis. Implications for the Future of Financial Markets
Author(s):GUISO, LuigiDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The financial crisis has brought to light diffuse opportunistic behaviour and some serious frauds. Because of this trust towards banks, bankers, brokers and the stock market has collapsed to unprecedented levels and there ...
Title:Trusting the Stock Market
Author(s):GUISO, Luigi; SAPIENZA, Paola; ZINGALES, LuigiDate:2008Type of Publication:ArticleAbstract:We study the effect that a general lack of trust can have on stock market participation. In deciding whether to buy stocks, investors factor in the risk of being cheated. The perception of this risk is a function of the ...
Title:Turnout and Policy: The role of candidates
Author(s):VALASEK, Justin MattiasDate:2012Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:Turnout is an important determinant of which candidate wins an election. Since candidates know this, it follows that they will consider turnout when choosing their policy platforms. In this paper I formally examine the ...
Title:Turnout and Power Sharing
Author(s):HERRERA, Helios; MORELLI, MassimoDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Differences in electoral rules and/or legislative, executive or legal institutions across countries induce different mappings from election outcomes to distributions of power. We explore how these different mappings affect ...
Title:Twin Deficit: Squaring Theory, Evidence and Common Sense
Author(s):CORSETTI, Giancarlo; MÜLLER, Gernot J.Date:2006Type of Publication:ArticleAbstract:Simple accounting suggests that shocks to the government budget move the current account in the same direction, and this `twin deficits' intuition leads many observers to call for fiscal consolidation in the US as a necessary ...
Title:Twin Deficits, Openness and the Business Cycle
Author(s):CORSETTI, Giancarlo; MÜLLER, Gernot J.Date:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:In this paper, we study the co-movement of the government budget balance and the trade balance at business cycle frequencies. In a sample of 10 OECD countries we find that the correlation of the two time series is negative, ...
Title:Twin Deficits, Openness, and the Business Cycle
Author(s):CORSETTI, Giancarlo; MÜLLER, Gernot J.Date:2008Type of Publication:ArticleAbstract:In this article, we study the co-movement of the government budget balance and the trade balance at business-cycle frequencies. In a sample of 10 OECD countries we find that the correlation of the two time series is negative, ...
Title:Uncertainty, expectations, and the business cycle
Author(s):LANG, Jan HannesDate:2012Type of Publication:ThesisSeries/Report no.:EUI PhD thesesAbstract:This thesis adds to the recent quantitative literature that considers variations in uncertainty as impulses driving the business cycle. In chapter one a flexible partial equilibrium model that features heterogeneous firms, ...