We conducted two large-scale, highly powered randomized controlled trials intended to encourage consumer debt repayments. In Study 1, we implemented five treatments varying the design of envelopes sent to debtors. We did not find any treatment effects on response and repayment rates compared to...

Understanding the global energy network and the developments of energy efficiency is key to advance energy regulation and fight climate change. We develop a global panel dataset on energy usage inventories based on territorial production, final production and consumption over 1997-2014. We apply...

Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial hardship. We study how bargaining failures in such procedures impact the economic performance of participating firms in the context of Croatia, which introduced a "pre-bankruptcy...

Large, macroeconomic shocks in the past have been shown to influence economic decisions in the present. We study in an experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In line with a reinforcement learning model, we...

This paper develops a search model with heterogeneous workers, firms, and on-the-job search. Employed low-skilled workers are allowed to seek better paid jobs at high productivity firms. Low productivity firms make take-it-or-leave-it wage offers, whereas high-productivity firms use Nash...

We develop a model to study the impact of corporate governance on firm investment decisions and industry competition. In the model, governance structure affects the distribution of shares among short- and long-term oriented investors, the robustness of the management regarding possible...

This paper empirically studies public debt sustainability with the panalized panel splines approach for 25 EU economies from 2000 to 2019 by estimating the response of the primary surplus to lagged debt relative to GDP, respectively. A positive coefficient on average indicates sustainable...

In this paper we study the effect of different types of technological regime changes on the evolution of industry concentration and wage inequality. Using a calibrated agent-based macroeconomic framework, the Eurace@Unibi model, we consider scenarios where the new regime is characterized by more...

Fifty-six years after the introduction of affirmative action in employment in the U.S., there is a lack of consensus regarding the effect of this policy on workers’ careers (Holzerand Neumark, 2000). This paper contributes to fill this gap by building and analyzing a dataset that allows us to...

In this paper we study Markov-perfect equilibria (MPE) of two-player multi-mode differential games with controlled state dynamics, where one player controls the transition between modes. Different types of MPE are characterized distinguishing between delay equilibria, inducing for some initial...