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Now showing items 61-70 of 170
Inequality for Wage Earners and Self-Employed: Evidence from Panel Data
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-03)
In this paper we study the evolution of income inequality for employees and self-employed workers. We highlight the importance of separately analyze these different sources of income to gain a broader understanding of ...
The Black Box of Mutual Fund Fees
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)
This paper re-examines the determinants of mutual fund fees paid by mutual fund shareholders for management costs and other expenses. There are two novelties with respect to previous studies. First, each type of fee is ...
Understanding the ex-ante cost of liquidity in the limit order book: A note
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-01)
This paper estimates a new measure of liquidity costs in a market driven by orders. It represents thecost of simultaneously buying and selling a given amount of shares, and it is given by a single measure of ex-ante liquidity ...
Asset pricing and systematic liquidity risk: an empirical investigation of the Spanish stock market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
Systematic liquidity shocks should affect the optimal behavior of agents in financial
markets. Indeed, fluctuations in various measures of liquidity are significantly
correlated across common stocks. Accordingly, this ...
On the strategic choice of spatial price policy: the role of the pricing game rules
(2001-02)
In this paper, whe show that the strategic choice of spatial price policy under duopoly crucially depends on the rules of price competition. Thisse and Vives (1988) show that spatial price discrimination is a dominant ...
Computing abuse related damages in the case of new entry: An illustration for the Directory Enquiry Services market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2006-07)
A number of European countries, among which the UK and Spain, have opened up their Directory Enquiry Services (DQs, or 118AB) market to competition. We analyse the Spanish case, where both local and foreign firms challenged ...
Cyclical Features of Uzawa-Lucas Endogenous Growth Model
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the cyclical properties of a generalized version of Uzawa-Lucas endogenous growth model. We study the dynamic features of different cyclical components of this model characterized by a variety of ...
Does the Term Spread play a role in the FED's reaction function? An Empirical Investigation
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)
Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of a Fed’s reaction function (FRF) that (i) allows for the presence of switching regimes, (ii) considers the
long-short term ...
The Comovement between Monetary and Fiscal Policy Instruments during the Post-War Period in the U.S.
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-04)
This paper empirically studies the dynamic relationship between monetary and fiscal policies by analyzing the comovements between the Fed funds rate and the primary deficit/output ratio. Simple economic thinking establishes ...
Explosive Hyperinflation, Inflation Tax Laffer Curve and Modelling the use of Money
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the existence of an inflation tax Laffer curve (ITLC) in the context of two standard optimizing monetary models: a cash-in-advance model and a money in the utility function model. Agents’ preferences ...