Tras la crisis economica iniciada en 2008, el declive economico de sectores como el de la inversion residencial ha puesto de manifiesto que la economia espanola necesita reorientar su actividad productiva hacia sectores con mayor potencial de crecimiento futuro y de creacion de empleo, como...

The goal of this paper is to explore the benefits of having a private liquidity provider and the conditions under which this lender provides liquidity, when a public liquidity provider is also present. The model proposed incorporates an endogenous interbank lending market so that the decision of...

According to the economic approach to political transitions, transitory negative economic shocks can open a window of opportunity for democratic improvement. Testing the theory requires a source of transitory shocks to the aggregate economy. We use rainfall shocks in Sub-Saharan African...

El buen funcionamiento de los gobiernos corporativos incide positivamente en la competitividad y crecimiento de una economia. Las caracteristicas de los mercados de capitales inciden en la estructura del problema de agencia que se establece en las companias, por lo que determinara distintos...

Many factors inhibiting and facilitating economic growth have been suggested. Can agnostics rely on international income data to tell them which matter? We find that agnostic priors lead to conclusions that are sensitive to differences across available income estimates. For example, the PWT 6.2...

El presente estudio tiene como objetivo plantear estadisticamente la probabilidad de que los trabajadores que no se encuentran cotizando a los sistemas de pensiones, tengan los incentivos para hacerlo. Para ello, se tomo a Chile como caso de estudio, contando primero con una revision de los...

This study aims to establish the statistical probability that workers who are not contributing to pension funds might do so, provided with the right incentives to. Chile was used as a case study for this purpose. First, voluntary savings schemes were reviewed and compared with similar systems in...

The benefits implied by changing the growth model are at the heart ofthe heated political and economic debate in Spain. Increases in productivity and the reallocation of employment towards more innovative sectors are defended as the panacea for most of the ills afflicting the Spanish economy. In...

After analyzing the different reasons why the financial system and also the regulatory framework induced procyclicality, this paper reviews the experiences of three countries which have introduced dynamic provisioning as a regulatory tool to limit procyclicality. The case of...

To learn more about the effect of economic conditions on civil war, we examine whether Sub-Saharan civil wars are more likely to start following downturns in the international price of countries’ main export commodities. The data show a robust effect of commodity price downturns...