This paper presents estimates of wealth effects on consumer spending using the first wave of a new survey of household finances (EFF 2002) that contains direct measures of asset holdings and consumption. A distinguishing feature of the EFF is the availability of such information from a...

In this Paper we propose an alternative to traditional hedonics for estimating new multiunit housing inflation, adjusting for quality changes. By relying on the within-site variation we control in a very general way for unobserved housing characteristics using site-specific effects. Precise...

We analyze the relationship between asset prices and current account positions estimating a Bayesian VAR for a broad set of 42 industrialized and emerging market countries. To derive model-based identifying restrictions, we model asset price shocks as news shocks about future productivity in a...

This paper uses detailed information from a large wage survey in 2006 to analyze the gender wage gap in the performance-pay (PP) component of total hourly wages and its contribution to the overall gender gap in Spain. Under the assumption that PP is determined in a more competitive fashion than...

This Paper analyses the gender wage gaps by education throughout the wage distribution in Spain. Quantile regressions are used to estimate the wage returns to the different characteristics at the more relevant percentiles. A correction for the selection bias is included for the group of less...

This paper analyses the determinants of academic performance of first-year undergraduate students in Economics at Universidad Carlos III de Madrid, over the period 2001-2005. We focus on a few core subjects which differ in their degree of mathematical complexity. Type of school, specialization...

This paper examines the effects of remedial mathematics on performance in university-level economics courses using a natural experiment. We study exam results prior and subsequent to the implementation of a remedial mathematics course that was compulsory for a sub-set of students and unavailable...

We study the relationship between geography and growth. To do so, we first develop a dynamic spatial growth theory with realistic geography. We characterize the model and its balanced growth path and propose a methodology to analyze equilibria with different levels of migration frictions. We...

This paper deals with the relationship between decentralisation, regional economic development, and income inequality within regions. Using multiplicative interaction models and regionally aggregated microeconomic data for more than 100,000 individuals in the European Union (EU), it addresses...

Transport costs play a key role in agricultural markets in developing countries and are one of the causes of poverty amongst farmers that are geographically isolated. Another characteristic of agricultural markets is that they often involve interlinked transactions. However, the existing...