Browsing Department of Economics (ECO) by Issue Date

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Browsing Department of Economics (ECO) by Issue Date

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    Title: With Strings Attached: Grandparent-provided child care, fertility, and female labour market outcomes  Author(s): GARCIA-MORAN, Eva; KUEHN, Zoe Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: Grandparents are regular providers of free child care. Similar to any other form of child care, availability of grandparent-provided child care affects fertility and labor market decisions of women positively. We find that ...
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    Title: Equivalence Between Out-of-Sample Forecast: Comparisons and Wald statistics  Author(s): HANSEN, Peter Reinhard; TIMMERMANN, Allan Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We establish the equivalence between a commonly used out-of-sample test of equal predictive accuracy and the difference between two Wald statistics. This equivalence greatly simplifies the computational burden of calculating ...
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    Title: Asymmetric Awareness and Moral Hazzard  Author(s): AUSTER, Sarah Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper introduces asymmetric awareness into the classical principal-agent model and discusses the optimal contract between a fully aware principal and an unaware agent. The principal enlarges the agent’s awareness ...
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    Title: The Financial Implications of a Banking Union  Author(s): ALLEN, Franklin; CARLETTI, Elena; GIMBER, Andrew Date: 2012 Type of Publication: Contribution to book Abstract: With calls for a banking union to resolve the issue of banking interdependence within the Eurozone, this paper explores the reasons behind such a policy, how it should be implemented and the possible ramifications.
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    Title: Family Firms and the Agency Cost of Debt: The role of soft information during a crisis  Author(s): D’AURIZIO, Leandro; OLIVIERO, Tommaso; ROMANO, Livio Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: In this paper we study how access to bank lending during the recent financial crisis differed between family and non-family firms. Our theoretical prediction is that the presence of a family block-holder in the company ...
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    Title: Economic Perspectives on Corporate Social Responsibility  Author(s): KITZMUELLER, Markus; SHIMSHACK, Jay Date: 2012 Type of Publication: Article Abstract: This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore ...
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    Title: Cash-on-Hand and the Duration of Job Search. Quasi-Experimental Evidence from Norway  Author(s): BASTEN, Christoph; FAGERENG, Andreas; TELLE, Kjetil Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We identify the causal effect of lump-sum severance payments on non-employment duration in Norway by exploiting a discontinuity in eligibility at age 50. We find that a severance payment worth 1.2 months’ earnings at the ...
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    Title: Testing Causality between Two Vectors in Multivariate GARCH Models  Author(s): WOŹNIAK, Tomasz Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: Spillover and contagion effects have gained significant interest in the recent years of financial crisis. Attention has not only been directed to relations between returns of financial variables, but to spillovers in risk ...
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    Title: Granger-Causal Analysis of VARMA-GARCH Models  Author(s): WOŹNIAK, Tomasz Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: Recent economic developments have shown the importance of spillover and contagion effects in financial markets. Such effects are not limited to relations between the levels of financial variables but also impact on their ...
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    Title: Governance for the Eurozone. Integration or disintegration?  Author(s): ALLEN, Franklin; CARLETTI, Elena; SIMONELLI, Saverio Date: 2012 Type of Publication: Book
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    Title: Network Structure Matters: Applications to R&D collaboration, collusion, and online communication networks  Author(s): KORKMAZ, Gizem Date: 2012 Type of Publication: Thesis Series/Report no.: EUI PhD theses Abstract: This thesis studies the interplay between network structure and strategic decision making given the backdrop of economic and social networks. The first two chapters study how firms’ incentives to invest in costly R&D are ...
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    Title: Markov-Switching Vector Autoregressive Models: Monte Carlo experiment, impulse response analysis, and Granger-Causal analysis  Author(s): DROUMAGUET, Matthieu Date: 2012 Type of Publication: Thesis Series/Report no.: EUI PhD theses Abstract: This dissertation has for prime theme the exploration of nonlinear econometric models featuring a hidden Markov chain. Occasional and discrete shifts in regimes generate convenient nonlinear dynamics to econometric models, ...
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    Title: On the Predictability of Time-Varying VAR and DSGE Models  Author(s): BEKIROS, Stelios D.; PACCAGNINI, Alessia Date: 2012 Type of Publication: Article Abstract: Over the last few years, there has been a growing interest in DSGE modelling for predicting macroeconomic fluctuations and conducting quantitative policy analysis. Hybrid DSGE models have become popular for dealing with ...
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    Title: The Career Costs of Children  Author(s): ADDA, Jérôme; DUSTMANN, Christian; STEVENS, Katrien Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper analyzes the life-cycle career costs associated with child rearing and decomposes their effects into unearned wages (as women drop out of the labor market), loss of human capital, and selection into more ...
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    Title: La crisis del euro. De Atenas a Madrid  Author(s): BORRELL, José; MISSÉ, Andreu Date: 2012 Type of Publication: Book Abstract: Tres años después de la quiebra de Lehman Brothers el panorama económico internacional parece desolador. Las primas de riesgo de España e Italia han llegado a superar los 400 puntos básicos, las perspectivas de crecimiento ...
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    Title: Health Selection and the Effect of Smoking on Mortality  Author(s): ADDA, Jérôme; LECHENE, Valérie Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We show that individuals who are in poorer health, independently from smoking, are more likely to start smoking and to smoke more cigarettes than those with better non-smoking health. We present evidence of selection, ...
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    Title: The Pro-Competitive Effect of Campaign Limits in Non-Majoritarian Elections  Author(s): IARYCZOWER, Matias; MATTOZZI, Andrea Date: 2012 Type of Publication: Article Abstract: We study a model of elections in non-majoritarian systems that captures the link between competition in policies and competition in campaign spending. We argue that the overall competitiveness of the political arena depends ...
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    Title: An Empirical Study of Credit Shock Transmission in a Small Open Economy  Author(s): BEDOCK, Nathan; STEVANOVIC, Dalibor Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: In this paper we identify and measure the effects of credit shocks in a small open economy. To incorporate information from a large number of economic and financial indicators we use the structural factor-augmented VARMA ...
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    Title: Money, Financial Stability and Efficiency  Author(s): ALLEN, Franklin; CARLETTI, Elena; GALE, Douglas Date: 2011-01-16 Type of Publication: Working Paper Series/Report no.: Wharton Financial Institutions Center Abstract: 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 ...
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    Title: What Do CEOs Do?  Author(s): BANDIERA, Oriana; GUISO, Luigi; PRAT, Andrea; SADUN, Raffaella Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We develop a methodology to collect and analyze data on CEO’s time use. The idea sketched out in a simple theoretical set-up is that CEO time is a scarce resource and its allocation can help us identify the firm’s priorities ...