Universitat Rovira i Virgili: Envíos recientes
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Dispersión de precios en la industria de seguros sanitarios privados
Presentamos un modelo de diferenciación vertical y horizontal de productos que explica la dispersión de precios de la industria de seguros sanitarios con prestación de servicios en España. El modelo capta la competencia ...
Market Competition and Lower Tier Incentives
The relationship between competition and performance-related pay has been analyzed in single-principal-single-agent models. While this approach yields good predictions for managerial pay schemes, the predictions fail to ...
Free Mobility and Taste-Homogeneity of Jurisdiction Structures
We consider a population of agents distributed on the unit interval. Agents form jurisdictions in order to provide a public facility and share its costs equally. This creates an incentive to form large entities. Individuals ...
Leading indicator properties of US high-yield credit spreads
In this paper we examine the out-of-sample forecast performance of high-yield credit spreads regarding real-time and revised data on employment and industrial production in the US. We evaluate models using both a point ...
Individual Aspirations and Satisfaction:Quantifying the Importance of Homeownership
Residential satisfaction is often used as a barometer to assess the performance of public policy and programmes designed to raise individuals' well-being. However, the fact that responses elicited from residents might be ...
Stock market integration between new EU member states and the Euro-zone
This paper measures the degree in stock market integration between five Eastern European countries and the Euro-zone. A potentially gradual transition in correlations is accommodated by smooth transition conditional ...
The Complete Information First. Price Auction or the Importance of Being Indivisible
Abstract Despite the popularity of auction theoretical thinking, it appears that no one has presented an elementary equilibrium analysis of the first-price sealed-bid auction mechanism under complete information. This paper ...
Progress Towards to Equity Market Integration in Eastern Europe
The advent of the European Union has decreased the diversification benefits available from country based equity market indices in the region. This paper measures the increase in stock integration between the three largest ...
Innovation sources and productivity in Catalonian firms: a quantile regression analysis
This paper explores the effects of two main sources of innovation -intramural and external R&D- on the productivity level in a sample of 3,267 Catalonian firms. The data set used is based on the official innovation survey ...
Empirical studies in industrial location: an assessment of their methods and results
This paper surveys recent evidence on the determinants of (national and/or foreign) industrial location. We find that the basic analytical framework has remained essentially unaltered since the early contributions of the ...
Foundations for contest success functions
In the literature the outcome of contests is either interpreted as win probabilities or as shares of the prize. With this in mind, we examine two approaches to contest success functions. In the first we analyze the ...
Economic impact of a new museum on the local economy: "The Gaudí Centre"
In this paper we analyse the economic impact of a new museum (the Gaudí Centre) on the local economy of Reus, a city in the province of Tarragona (southern Catalonia). We use a Keynesian income multiplier model to evaluate the ...
Co-movements between US and UK stock prices: the roles of macroeconomic information and time-series varying conditional correlations
This paper provides evidence on the sources of co-movement in monthly US and UK stock price movements by investigating the role of macroeconomic and financial variables in a bivariate system with time-varying conditional ...
Market effects of foreign exchange coordinated intervention
In this article we develop a theoretical microstructure model of coordinated central bank intervention based on asymmetric information. We study the economic implications of coordination on some measures of market quality ...
All-pay auction equilibria in contests
We analyze (non-deterministic) contests with anonymous contest success functions. There is no restriction on the number of contestants or on their valuations for the prize. We provide intuitive and easily verifiable ...
A nonlinear threshold model for the dependence of extremes of stationary sequences
One of the main implications of the efficient market hypothesis (EMH) is that expected future returns on financial assets are not predictable if investors are risk neutral. In this paper we argue that financial time series ...
Trials, tricks and transparency: how disclosure rules affect clinical knowledge
Scandals of selective reporting of clinical trial results by pharmaceutical firms have underlined the need for more transparency in clinical trials. We provide a theoretical framework which reproduces incentives for selective ...
When do central banks prefer to intervene secretly?
Central banks often intervene secretly in the foreign exchange market. This secrecy seems to be at odds with the signalling channel. In this article we will analyse when a central bank intervening in the foreign exchange ...
Economic impact of alternative policy measures implemented on the energy activities of the Catalan production system: an input-output analysis
The aim of the paper is to analyse the economic impact of alternative policies implemented on the energy activities of the Catalan production system. Specifically, we analyse the effects of a tax on intermediate energy ...
Business Cycle Regimes in CEECs Production: A Threshold SURE Approach
We use a threshold seemingly unrelated regressions specification to assess whether the Central and East European countries (CEECs) are synchronized in their business cycles to the Euro-area. This specification is useful ...
