Similar Search Results

Moral-Benito, Enrique

La incertidumbre del modelo continúa siendo un reto para los investigadores aplicados. En general, al llevar a cabo una investigación empírica hay diferentes modelos/ especificaciones disponibles para estudiar el efecto de interés. Frente a esta situación, la técnica más común es...

Persistent link: https://www.econbiz.de/10012530348

Do dynamic provisions reduce income smoothing using loan loss provisions?

Pérez Cid, Daniel; Salas Fumás, Vicente; Saurina … - 2011

Los bancos españoles tuvieron que realizar provisiones estadísticas contracíclicas en el período 2000-2004. Los bancos tenían que comunicar los importes de dichas provisiones al mercado. Esto crea un experimento natural que permite testar si los bancos suavizan el resultado para despistar a...

Persistent link: https://www.econbiz.de/10012530349

Envy and habits : panel data estimates of interdependent preferences

Alvarez-Cuadrado, Francisco; Sutthiphisal, Dhanoos; … - 2012

We estimate the importance of preference interdependence from consumption choices. Our strategy follows the literature that tests the constraints imposed by optimality in the evolution of individual consumption. We derive a Euler equation from a preference specifi cation that allows for...

Persistent link: https://www.econbiz.de/10012530376

Consumption partial insurance of Spanish households

Casado García, José María - 2012

This paper measures how households smooth changes in consumption when incomes are shifted by permanent or transitory shocks at country and regional level. I compute insurance capacity using the Spanish Continuous Family Expenditure Survey skipping the imputation methods used by the previous...

Persistent link: https://www.econbiz.de/10012530377

Business cycles and investment in intangibles : evidence from Spanish firms

López García, Paloma; Montero, José Manuel; …

theory, productivity-enhancing activities, such as R&D investment, should increase during downturns because of the fall in …-term impact on productivity growth. In the spirit of Aghion et al. (2007) we allow the impact of the cycle on R&D to vary between … is optimal for them. We go one step further and explore whether other productivity-enhancing activities, like on …

Persistent link: https://www.econbiz.de/10012530381

A model for vast panels of volatilities

Luciani, Matteo; Veredas, David - 2012

Realized volatilities, when observed over time, share the following stylised facts: comovements, clustering, long-memory, dynamic volatility, skewness and heavy-tails. We propose a dynamic factor model that captures these stylised facts and that can be applied to vast panels of volatilities as...

Persistent link: https://www.econbiz.de/10012530396

The effect of foreclosure regulation evidence for the us mortgage market at state level : evidence for the US mortgage market at state level

López Vicente, Fernando - 2013

Incluye bibliografía ; Do laws to protect borrowers curb foreclosures? This question is addressed by analysing the impact of foreclosure laws on default rates at state level in the US mortgage market. Using panel data techniques, we find a statistically significant effect of regulation on the...

Persistent link: https://www.econbiz.de/10012530414

Testing weak exogeneity in cointegrated panels

Moral-Benito, Enrique; Servén Díez, Luis

Incluye bibliografía ; For reasons of empirical tractability, analysis of cointegrated economic time series is often developed in a partial setting, in which a subset of variables is explictly modeled conditional on the rest. This approach yields valid inference only if the conditioning...

Persistent link: https://www.econbiz.de/10012530415

Sovereign ratings and their asymmetric response to fundamentals

Broto Pelegrín, Carmen; Molina Sánchez, Luis - 2014

La evolución de los ratings soberanos es profundamente asimétrica, ya que las fases de bajadas de la calificación crediticia suelen ser más bruscas y de mayor intensidad que las de subidas. Dicho de otro modo, una vez que un país pierde su calificación inicial, transcurre un período...

Persistent link: https://www.econbiz.de/10012530455

The impact of the euro on euro area GDP per capita

Fernández Vidaurreta, Cristina; García Perea, Pilar - 2015

Este artículo aborda la siguiente pregunta: ¿cuál habría sido el PIB per cápita del área del euro si no se hubiese creado la unión monetaria? Para intentar contestarla, utilizamos la metodología de control sintético [Abadie y Gardeázabal (2003) y Abadie et al. (2010)]. Nuestros...

Persistent link: https://www.econbiz.de/10012530489