We analyze a competitive research-oriented public program established in Spain, the Ramon yCajal Program, intended to offer contracts in public research centers to high-quality researchers.We study the effects of the Program on the ex-post scientific productivity of its recipients, relativeto...

We analyze the design of a unique Spanish public program aimed at recruiting high quality researchers in public research centers: the Ramón y Cajal Program. We claim that, after a number of calls, the program design changed in response to agents' needs. Exploiting data on applications and...

Using longitudinal data of Spanish manufacturing companies, we study the dynamic, bidirectional relationship between firm research and development (R&D) intensity and corporate diversification in an organic growth setting. Our empirical approach accounts for the different sources of endogeneity....

An important puzzle in financial economics is why fund managers invest in short-maturity assets when they could obtain larger profits in assets with longer maturity. This work provides an explanation to this fact based on labor contracts signed between institutional investors and fund managers....

In this paper we investigate the characteristics of the citation distributions of the 500 universities inthe 2013 edition of the CWTS Leiden Ranking. We use a WoS dataset consisting of 3.6 million articles published in 2003-2008 with a five-year citation window, and classified into 5,119...

The usual solution to the aggregation problem of heterogeneous fields in the all-sciences case relies onthe prior normalization of the raw citations received by any publication. In this paper, we propose analternative solution that does not require any prior field-normalization. The citation...

We study the optimal provision of unemployment insurance (UI) in a framework that distinguishes between consumption and expenditure. We derive a "sufficient statistics" formula for optimal UI that is expressed terms of observable variables and can therefore be used in applied work. Recent...

This paper studies the assignment of responsibility to the participants in the case of co-authored scientific publications. In the conceptual part, we establish that the key shortcoming of the full counting method is its incompatibility with the use of additively decomposable citation impact...