Browsing Documentos de Trabajo e Informes Técnicos by Title
Now showing items 400-419 of 451
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The Ohlin-Keynes Debate on the German Interwar Reparations Revisited
(2008)This paper analyzes the debate between Ohlin and Keynes on the question as to whether Germany was able to make the payments specified in the Dawes Plan. Keynes argued that Germany was able to collect the money but unable ... -
The Optimality of the Common Fisheries Policy: the Northern Stock of Hake
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits ... -
The Relationship between Risk and Expected Return in Europe
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-01)We employ MIDAS (Mixed Data Sampling) to study the risk-expected return trade-off in several European stock indices. Using MIDAS, we report that, in most indices, there is a significant and positive relationship between ... -
The Relevance of Relative Position in Ultimatum Games
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2014)This paper investigates the effect of focal points and initial relative position in the outcome of a bargaining process. We conduct two on-line experiments. In the first experiment we attempt to replicate Güth, Huck and ... -
The reverse self-dual serial cost-sharing rule
(Departamento de Economía Aplicada IV, UPV-EHU, 2012)In this study we define a cost sharing rule for cost sharing problems. This rule is related to the serial cost-sharing rule defined by Moulin and Shenker (1992). We give some formulas and axiomatic characterizations for ... -
The role of personal involvement and responsibility in dictatorial allocations: A classroom experiment
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-08)This paper explores the motivations behind giving. Specifically, it focuses on personal involvement and responsibility to explain why decision makers give positive amounts in dictatorial decisons. The experiment is designed ... -
The role of the term spread in an augmented Taylor rule: An empirical investigation
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2003-04)Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of an augmented version of the Taylor rule (ATR) that (i) allows for the presence of switching regimes, (ii) considers the ... -
The role of the terms of trade in the trade channel of transmission of oil price shocks
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-12)This paper highlights the role of the terms of trade in the trade channel of propagation of oil price shocks both empirically and theoretically. Empirically, I show that oil price shocks have a large, persistent and ... -
The SD-prekernel for TU games
(Departamento Fundamentos del Análisis Económico I, 2016-03-14)We introduce and analyze a new solution concept for TU games:The Surplus Distributor Prekernel. Like the prekermel, the new solu- tion is based on the an alternative motion of complaint of one player against other with ... -
The SD-prenucleolus for TU games
(2011-12)We introduce and characterize a new solution concept for TU games. The new soluction is called SD-prenucleolus and is a lexicographic value although is not a weighted prenucleolus. The SD-prenucleolus satisfies several ... -
The Stability of the Roommate Problem Revisited
(2007-09)The lack of stability in some matching problems suggests that alternative solution concepts to the core might be applied to find predictable matchings. We propose the absorbing sets as a solution for the class of roommate ... -
The Supercore for Normal Form Games
(2003-10)We study the supercore of a system derived from a normal form game. For the case of a finite game with pure strategies, we define a sequence of games and show that the supercore of that system coincides with the set of ... -
The von Neumann-Morgenstern stable sets for 2x2 games
(Departamento de Fundamentos del Análisis Económico IDepartamento de Economía Aplicada IV, 2012-11)We analyze the von Neumann and Morgenstern stable sets for the mixed extension of 2 2 games when only single profitable deviations are allowed. We show that the games without a strict Nash equilibrium have a unique vN&M ... -
The Weekend-Dividend Effect in the Spanish Market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-06)In this paper we develop an econometric test of a corollary of the irrelevance of the dividend policy principle, namely, that the rescheduling of dividends does not affect the market valuation of the firm. In particular, ... -
Time discounting (delta) and pain anticipation: Experimental evidence
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-11)This paper deals with pain anticipation experienced before medical procedures. Our experimental results show that individuals with lower discount factors are more prone to suffer pain in advance. We provide a framework to ... -
Time Variation in an Optimal Asymmetric Preference Monetary Policy Model
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)This paper considers a time varying parameter extension of the Ruge-Murcia (2003, 2004) model to explore whether some of the variation in parameter estimates seen in the literature could arise from this source. A time ... -
Time-dependent outside option in an alternating offers bargaining model
(1997)In this work I consider an alternating offers bargaining model in which a time-dependent outside option is introduced. The purpose of this work is to analyze relationships between S.P.E. utility pairs induced by such a ... -
Time-Varying Beta Estimators in the Mexican Emerging Market
(2011)This paper compares the performance of three different time-varying betas that have never previously been compared: the rolling OLS estimator, a nonparametric estimator and an estimator based on GARCH models. The study ... -
Timing of Wage Setting when Firms Invest in R&D
(2003-12)In this paper, we analyze the effect that the timing of wage setting (i. e. whether wages set sequentially or simultaneously) has on the investment in R&D of firms, when that investment increases the productivity of labor, ... -
To appove or not to approve: this is not the only question
(2012)This paper deals with electing candidates. In elections voters are frequently offered a small set of actions (voting in favor of one candidate, voting blank, spoiling the ballot, and not showing up). Thus voters can ...