Este artículo presenta un modelo at-risk para el precio de la vivienda que se ajusta a los desarrollos históricos observados en el mercado residencial español. Por medio de regresiones cuantílicas, mostramos que un modelo que contiene la tasa de crecimiento trimestral del precio de la...

To identify issuer motives, we study the determinants of announcement effects of convertible debt issues in the Canadian market. Classified into equity- and debt-like, wealth effects are significantly more negative for equity-like convertible bond issuers. Equity-like convertibles are...

Several recent papers have documented the benefits of debtor-in-possession (DIP) financing in the restructuring of firms in Chapter 11. However, the view on benefits is not unanimous and some legal scholars have raised doubts about DIP financing's effects on debt-holders and the possibility of...

According to the glass ceiling hypothesis evidenced in developed countries, there existlarger gender pay gaps at the upper tail of the wage distribution. In this paper, we investigate therelevance of a glass ceiling effect in Morocco using a matched worker-firm data set of more than8000...

Este estudio une los desarrollos recientes sobre la metodología de crecimiento en riesgo con la literatura sobre evaluaciones de impacto de la política macroprudencial. Para ello, extiendo el uso de regresiones cuantílicas del crecimiento del PIB con el objetivo de incluir variables...

We study changes in the wage structures in nine EU countries over 1995-2002 and the role of demand, supply and institutional developments in shaping these changes. Using comparable cross-country microeconomic data, we compute for each country and at each decile of the wage distribution, the part...

A pesar de una rápida disminución del desempleo, los salarios reales en España apenas aumentaron durante el periodo 1995-2006. Una posible explicación de este comportamiento se refiere a la importancia de los efectos composición derivados de algunos cambios estructurales, tales como el...

Utilizing the firm-level dataset, this study aims to explore differences in firm-level productivity and growth between Japan, Korea, and China, while at the same time illuminating the mechanism that has driven the narrowing in the productivity gap that can be observed. We pursue two strategies....

The New Keynesian Phillips Curve (NKPC) is now the dominant model of inflation dynamics. In recent years, a large body of empirical research has documented price setting behaviour at the individual level, allowing the assessment of the micro foundations of pricing models. This paper analyses the...

Usando microdatos del IPC para 11 países del área del euro, que representan el 60 % de la cesta europea de consumo durante el período 2010-2019, documentamos nuevos resultados sobre rigidez de precios en el área del euro: i) cada mes, en promedio, el 12,3 % de los precios sufren cambios, en...