In this paper we analyse the role of learning through experience in Research and Development (R&D) activities in strengthening firms’ capabilities to achieve innovation outcomes. Using a production function approach, we estimate a count-data model using a panel dataset of Spanish manufacturing...

This paper analyzes the external solvency of a group of 23 OECD countries for the period 1970-2012 The empirical strategy adopted underlines the increasing importance of the ?nancial channel for the external adjustment as proposed in Gourinchas and Rey (2007). We unify the traditional approaches...

In the housing markets three basic facts have been repeatedly reported by empirical studies: the existence of price dispersion, the positive correlation between housing price and timeon-the-market, and between housing price and trading volume. Since housing markets are characterised by a...

In this paper we consider the possibility that a linear cointegrated regression model with multiples structural changes would provide a better empirical description of the term structure model of interest rates. Our methodology is based on instability tests recently proposed in Kejriwal and...

Over the last decade, Spain created more jobs than any other country in Europe; however, now it is destroying them at an equal pace. Nevertheless, the relationship between the level of employment and the level of self-employment has remained relatively stable. In this context, there is a...

The literature on firm level productivity in developed countries recognizes the important role played by firm innovation activities on the evolution of firm productivity. However, the literature on this topic for developing and emerging economies is scarcer and far from conclusive. The aim of...

In this paper we analyse the effect of ownership on the response of firms?’ R&D expenditures to the business cycles in the economy, using a panel dataset of Spanish manufacturing firms for the period 1990-2006. Following Aghion et al. (2012), we allow the impact of the business cycle on...

This paper estimates a dynamic model of a firm’s decision to export and invest in R&D, in which we allow past export and R&D experience to endogenously affect productivity. In our empirical strategy we proceed in two steps: in the first step, using as starting point the traditional control...

The migration-trade link has been studied extensively since the mid nineties, finding a positive impact through different channels. Based on the generalized propensity score (GPS) methodology, we estimate a dose-response function, depicting a non-linear impact of immigration on exports using...

Eco-efficiency refers to the ability to produce more goods and services with less impact on the environment and less consumption of natural resources. This issue has become a matter of concern that is receiving increasing attention by politicians, scientists and academics. Furthermore,...