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Data revisions in the estimation of DSGE models
(2011)
Documento de trabajo / Lan gaiak,
Revisions of US macroeconomic data are not white-noise. They are persistent, correlated with real-time data, and with high variability (around 80% of volatility observed in US real-time data). Their business cycle effects ...
Firm entry under financial frictions
(2011)
Documento de trabajo / Lan gaiak,
Introducing both endogenous firm entry and a requirement for external finance in a general-equilibrium model leads to three main results. First, the financial constraint has contractionary effects on both equity investment ...
Non anonymous ballot aggregation: an axiomatic generalization of Approval Voting
(2011)
Documento de trabajo / Lan gaiak,
We study axiomatically situations in which the society agrees to treat voters with different characteristics distinctly. In this setting, we propose a set of six intuitive axioms and show that they jointly characterize a ...
EQIS 1.0 user guide
(2011)
Documento de trabajo / Lan gaiak,
Where is QALY? The search of values for QALYs (Quality Adjusted Life Years) in the field of Health Economics is not easy. Economic Evaluations, particularly cost-utility analysis, should be of standard practice, but the ...