Adaptive Learning in Models with Lagged Variables
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Wilfredo Leiva; Resumen : In this work I study the stability of the dynamics generated by adaptive learning processes in intertemporal economies with lagged variables. I prove that determinacy of the steady state is a nec...
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Insurance with Frequent Trading: A Dynamic Analysis of Efficient Insurance Markets
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: José Penalva; Resumen : This paper extends existing insurance results on the type of insurance contracts needed for insurance market efficiency to a dynamic setting. It introduces continuosly open markets that allow for m...
Incomplete Markets, Labor Supply and Capital Accumulation
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Albert Marcet; Francesc Obiols-Homs; Philippe Weil; Resumen : In this paper we explore the accumulation of capital in the presence of limited insurance against idiosyncratic shocks, borrowing constraints and endogenous la...
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Ethical Differentiation and Market Behavior: An Experimental Approach
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Julian Rode; Robin Hogarth; Marc Le Menestrel; Resumen : We constructed triopolistic experimental markets where producers set prices. One producers costs were higher than the others. In two experiments, costs were attrib...
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Logistics-production, Logistics-marketing and External Integration: Their Impact on Performance
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Cristina Giménez; Eva Ventura; Resumen : Highly competitive environments are leading companies to implement Supply Chain Management (SCM) to improve performance and gain a competitive advantage. SCM involves integration, ...
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The Choice of the Form of Representation in Multinational Banking: Evidence from Spain
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Josep Garcia Blandón; Resumen : This paper investigates foreign direct investment in the banking sector. The attention has been addressed to test the importance of OLI advantages as the determinants of the bank's decision...
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Communication, Coordination, and Efficiency in Evolutionary One-population Models
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Sjaak Hurkens; Karl H. Schlag; Resumen : We analyze the role of commitment in pre-play communication for ensuring efficient evolutionarily stable outcomes in coordination games. All players are a priori identical as they ...
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Secret Information Acquisition in Cournot Markets
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Esther Hauk; Sjaak Hurkens; Resumen : Two-stage game models of information acquisition in stochastic oligopolies require the unrealistic assumption that firms observe the precision of information chosen by their competito...
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Inflation, Political Instability and Stockmarket Volatility in Interwar Germany
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Hans Joachim Voth; Resumen : What determined the volatility of asset prices in Germany between the wars? This paper argues that the influence of political factors has been overstated. The majority of events increasing pol...
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Endogenous Policy Leads to Inefficient Risk Sharing
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Marco Celentani; J. Ignacio Conde; Klaus Desmet; Resumen : We analyze risk sharing and fiscal spending in a two-region model with complete markets. Fiscal policy determines tax rates for each state of nature. When fiscal ...
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Location models for Ceding Market Share and Shribking Services
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Charles ReVelle; Alan T. Murray; Daniel Serra; Resumen : New location models are presented here for exploring the reduction of facilities in a region. The first of these models considers firms ceding market share to compe...
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Financial Repression in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Peter Tenim; Joachim Voth; Resumen : If financial deepening aids economic growth, then financial repression should be harmful. We use a natural experiment the change in the English usury laws in 1714 to analyze the ef...
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On the Timing of Balance of Payments Crises: Disaggregated Information and Interest Rate Policy
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Fernando Broner; Resumen : This paper proposes a dynamic framework to study the timing of balance of payments crises. The model incorporates two main ingredients: (i) investors have private information; (ii)investors inte...
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The Adverse Effects of Environmental Policy in Green Markets
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: José L. Moraga; Noemí Padrón; Resumen : We model green markets in which purchasers, either firms or consumers, have higher willingness-to-pay for less polluting goods. The effectiveness of pollution reduction policies is ...
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Multiple Prisoner's Dilemma Games with (out) an Outside Option: An Experimental Study
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Esther Hauk; Resumen : Experiments in which subjects play simultaneously several finite prisoner's dilemma supergames with and without an outside option reveal that: (i) subjects use probabilistic start and endeffect beha...
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Cross-Border Banking in Europe: An Empirical Investigation
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Josep García Blandón; Resumen : This paper investigates bilateral trade in banking services within the European Union. The attention has been addressed to two main issues. First, to test the bank's motivations for setting...
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Auctions of Licences and Market Structure
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Gustavo Rodríguez; Resumen : This paper studies sequential auctions of licences to operate in a market where those firms that obtain at least one licence then engage in a symmetric market game. I employ a new refinement o...
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Seniority-based pay: is it used as a motivation device?
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Autònoma de Barcelona. Departament d'Economia de l'Empresa Autor/es: Bayo Moriones, José Alberto; Publica: Universitat Autònoma de Barcelona. Departament d'Economia de l'Empresa Resumen : The purpose of this article is to explain what factors determine the use of seniority-base...
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Supermarket Key Attributes and Location Decisions: A Comparative Study between British and Spanish Consumers
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Daniel Serra; Rosa Colomé; Resumen : The Maximum Capture problem (MAXCAP) is a decision model that addresses the issue of location in a competitive environment. This paper presents a new approach to determine which store...
