Does Foreign Direct Investment Crowd Out Domestic Entrepreneurship?
RECERCAT - Dipòsit de Recerca de Catalunya
direct investment discourage entry and stimulate exit of domestic entrepreneurs. These results are in line with theoretical occupational choice models that predict foreign direct investment would crowd out domestic entrepreneurs through their selections...
The HP-Filter in Cross-country Comparisons
RECERCAT - Dipòsit de Recerca de Catalunya
across countries amounts to chankging the constraints on trend variability across countries. Our proposed method is easy to apply, retains all the virtues of the standard HP-filter and when applied to Spanish data the results are in the line with economic...
Optimal Bail Out Policy, Conditionality and Constructive Ambiguity
RECERCAT - Dipòsit de Recerca de Catalunya
considering a simple cost benefit analysis we show that this position may lack a sufficient foundation. We establish that, instead, uder reasonable assumptions, the optimal policy has to be conditional on the amount of uninsured debt issued by the defaulting...
