A Dilution Cost Approach to Financial Intermediation and Securities Markets
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Patrick Bolton; Xavier Freixas; Resumen : This paper proposes a model of financial markets and corporate finance, with asymmetric information and no taxes, where equity...
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Market Institutions and Judicial Rulemaking
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Benito Arruñada; Veneta Andonova; Resumen : Assuming that the degree of discretion granted to judges was the main distinguishing feature between common and civil law...
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Finite Horizon Bargaining and the Consistent Field
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Armando Gomes; Sergiu Hart; Andreu Mas-Colell; Resumen : This paper explores the relationships between noncooperative bargaining games and the consistent value for non...
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Hiring and Firing Costs, Adverse Selection and Long-term Unemployment
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Adriana D. Kugler; Gilles Saint Paul; Resumen : In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment are...
Patentes, regulación de precios e innovación en la industria farmacéutica
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Vicente Ortún; Resumen : The trade-off between property rights/price regulation and innovation depends on country characteristics and drug industry specificities. Access...
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Optimal Contracts, Adverse Selection, and Social Preferences: An Experiment
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Antonio Cabrales; Gary Charness; Resumen : It has long been standard in agency theory to search for incentive-compatible mechanisms on the assumption that people care...
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Sovereign Risk, Anonymous Markets, and the Effects of Globalization
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Fernando Broner; Jaume Ventura; Resumen : The goal of this paper is to study the e¤ects of globalization on the workings of financial markets. We adopt a "technological...
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Manipulation of earnings reports in Spain - some evidence
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Oriol Amat; Catherine Gowthorpe; Jordi Perramon; Resumen : Accounting regulation is a highly topical issue for listed companies in Europe. From 1 January 2005 all...
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Ratio Maps and Correspondence Analysis
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Michael Greenacre; Resumen : We compare two methods for visualising contingency tables and develop a method called the ratio map which combines the good properties of...
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Incentives and Pharmaceutical Reimbursement Reforms in Spain
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Jaume Puig; Resumen : The aim of this paper is to assess whether cost-containment has been affected by recent pharmaceutical reimbursement reforms that have been...
Generalized Canonical Correlation Analysis of Matrices with Different Row and Column Orders
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Michel Van de Velden; Tammo Bijmolt; Resumen : A Method is offered that makes it possible to apply generalized canonical correlations analysis (CANCOR) to two or more...
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Survival and Sensemaking: Organizational Resilience in a Wall Street Trading Room After 9/11
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Daniel Beunza Ibáñez; David Stark; Resumen : How do organizations cope with extreme uncertainty? The existing literature is divided on this issue: some argue that...
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Unemployment Duration and Workers' Wage Aspirations in Spain
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Namkee Ahn; J. Ignacio García Pérez; Resumen : This paper examines unemployed workers' declared willingness to work for a wage lower than the one warranted by their...
Why England? Demand, Growth and Inequality During the Industrial Revolution
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Nico Voigtländer; Joachim Voth; Resumen : Why was England first? And why Europe? We present a probabilistic model that builds on big-push models by Murphy, Shleifer and...
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When in Peril, Retrench: Testing the Portfolio Channel of Contagion
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Fernando Broner; R. Gaston Gelos; Carmen M. Reinhart; Resumen : One plausible mechanism through which financial market shocks may propagate across countries is through...
