Now showing items 1-10 of 20
Enforcement actions on banks and the structure of loan syndicates
We investigate the effect of regulatory enforcement actions on banks' reputation by estimating the effect of non-compliance with laws and regulations among lead arrangers on the structure of syndicated loans. Consistent ...
Economic insecurity and political stability: a case for growth-targeting systemic vote
Abstract. In this paper, we focus on the years before the Great Recession (1960–2007) and, after addressing possible issues of endogeneity, we study the effect
Robust portfolio optimization: a categorized bibliographic review
Robust portfolio optimization refers to finding an asset allocation strategy whose behavior under the worst possible realizations of the uncertain inputs, e.g., returns and covariances, is optimized. The robust approach ...
Output and pollution abatement in a U.S. state emission function
Using U.S. state-level data for the period 1973–1994, this study models the relationship between emissions, output and pollution abatement by defining an emissions function, in a manner that is consistent with the residual ...
Electoral Spillovers in an Intertwined World: Brexit Effects on the 2016 Spanish Vote
he Brexit vote took place three days before the June 26, 2016, Spain’s parliamentary elections, in which anti-systemic parties performed worse compared to the previous elections (December 2015) despite the optimistic ...
Intergenerational Earnings Mobility in Post-Soviet Russia
We make use of longitudinal data for the Russian economy over 1994–2016 to obtain earnings information about parents and children. We show that rank correlations give reliable estimates, and find intergenerational correlations ...
Multiple Regimes in the Preferences for Redistribution
This paper provides novel evidence of nonlinearities in the formation of preferences for redistribution by uncovering evidence of multiple regimes consistent with the presence of multiple equilibria and multiple steady ...
How different are Monetary Unions to national economies according to prices?
Not that different. Based on a unique dataset of semi-annual microeconomic price levels of goods and services across and within countries for 1990:1–2018:2, we show that time-series volatility and cross-sectional dispersion ...
Inflation Expectations and Monetary Policy Surprises
We estimate monetary policy surprises for European consumers over time, based on monetary policy changes that were unanticipated according to consumers’ stated beliefs. We ﬁnd that such monetary policy surprises have the ...
Public debt and state-dependent effects of fiscal policy in the euro area
We investigate public debt related state dependencies of fiscal policy shocks for fifteen euro area economies during the period from 2000:Q1 to 2019:Q4. Our estimated impulse response functions suggest that the impact of ...