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Entry and Market Selection of Firms: A Laboratory Study

Brandts, Jordi; Giritligil, Ayça Ebru - Barcelona Graduate School of Economics (Barcelona GSE) - 2006

We study competition in experimental markets in which two incumbents face entry by three other firms. Our treatments … vary with respect to three factors: sequential vs. block or simultaneous entry, the cost functions of entrants and the … amount of time during which incumbents are protected from entry. Before entry incumbents are able to collude in all cases …

Persistent link: https://www.econbiz.de/10010851346

Forward induction and the excess capacity puzzle: An experimental investigation

Brandts, Jordi; Cabrales, Antonio; Charness, Gary - Barcelona Graduate School of Economics (Barcelona GSE) - 2003

entry into markets, there is little empirical evidence that incumbent firms effectively behave in this way. Bagwell and …

Persistent link: https://www.econbiz.de/10010547333

Man-Bites-Dog Business Cycle

Nimark, Kristoffer - Barcelona Graduate School of Economics (Barcelona GSE) - 2013

The newsworthiness of an event is partly determined by how unusual it is and this paper investigates the business cycle implications of this fact. In particular, we analyze the consequences of information structures in which some types of signals are more likely to be observed after unusual...

Persistent link: https://www.econbiz.de/10010851373

Do Institutions and Culture Matter for Business Cycles?

Altug, Sumru; Canova, Fabio - Barcelona Graduate School of Economics (Barcelona GSE) - 2012

We examine the relationship between institutions, culture and cyclical fluctuations for a sample of 45 European, Middle Eastern and North African countries. Better governance is associated with shorter and less severe contractions and milder expansions. Certain cultural traits, such as lack of...

Persistent link: https://www.econbiz.de/10010851386

Newborn Health and the Business Cycle: Is it Good to be Born in Bad Times?

Aparicio, Ainhoa; González, Libertad - Barcelona Graduate School of Economics (Barcelona GSE) - 2014

We study the effect of the cycle on the health of newborn babies using 30 years of birth-certificate data for Spain. We find that babies are born healthier when the local unemployment rate is high. Although fertility is lower during recessions, the effect on health is not the result of...

Persistent link: https://www.econbiz.de/10010851388

Modern Perspectives on Stabilization Policies

Gali, Jordi - Barcelona Graduate School of Economics (Barcelona GSE) - 2004

The present paper describes recent research on two central themes of Keynes' General Theory: (i) the social waste associated with recessions, and (ii) the effectiveness of fiscal policy as a stabilization tool. The paper also discusses some evidence on the extent to which fiscal policy has been...

Persistent link: https://www.econbiz.de/10010851433

Do labor market rigidities matter for business cycles? Yes they do

Gnocchi, Stefano; Pappa, Evi - Barcelona Graduate School of Economics (Barcelona GSE) - 2009

We study whether labor market institutions affect the volatility and correlations of macroeconomic variables for a sample of 20 OECD countries. Labor market rigidities are characterized with a number of indicators; volatilities and correlations are computed in several ways. Union coverage and...

Persistent link: https://www.econbiz.de/10010851478

From Micro to Macro via Production Networks

Carvalho, Vasco M. - Barcelona Graduate School of Economics (Barcelona GSE) - 2014

A modern economy is an intricately linked web of specialized production units, each relying on the flow of inputs from their suppliers to produce their own output which, in turn, is routed towards other downstream units. In this essay, I argue that this network perspective on production linkages...

Persistent link: https://www.econbiz.de/10011272282

Managing Credit Bubbles

Martín, Alberto; Ventura, Jaume - Barcelona Graduate School of Economics (Barcelona GSE) - 2015

We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles, that is, expansions in credit that are backed not by...

Persistent link: https://www.econbiz.de/10011266628

Credit Constraints, Firms' Precautionary Investment, and the Business Cycle

Orive, Ander Pérez - Barcelona Graduate School of Economics (Barcelona GSE) - 2010

This paper studies the macroeconomic implications of firmsprecautionary investment behavior in response to the anticipation of future financing constraints. Firms increase their demand for liquid and safe investments in order to alleviate future borrowing constraints and decrease the probability...

Persistent link: https://www.econbiz.de/10010547113