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The public sector wage premium in Spain: evidence from longitudinal administrative data

Hospido, Laura; Moral-Benito, Enrique - Banco de España - 2014

This paper studies the public sector wage gap in Spain by gender, skill level and type of contract, using recent administrative data from tax records. We estimate wage distributions in the presence of covariates separately for men and women in the public and in the private sectors, and we take...

Persistent link: https://www.econbiz.de/10010886087

Inequality for Wage Earners and Self-Employed: Evidence from Panel Data

Albarrán, Pedro; Carrasco, Raquel; Martínez-Granado, Maite - Banco de España - 2007

In this paper we study the evolution of income inequality for employees and self-employed workers. We highlight the … importance of separately analyzing these different sources of income to gain a broader understanding of inequality. Using Spanish … permanent and a transitory component. We find that there are noticeable differences in the evolution of income inequality, as …

Persistent link: https://www.econbiz.de/10005022242

Business cycles and investment in intangibles: evidence from Spanish firms

López-García, Paloma; Montero, José Manuel; … - Banco de España - 2012

This paper tests the opportunity-cost theory using a panel of Spanish firms during the period 1991-2010. Under this theory, productivity-enhancing activities, such as R&D investment, should increase during downturns because of the fall in their relative cost – in terms of forgone output –....

Persistent link: https://www.econbiz.de/10010678677

Growth Empirics in Panel Data under Model Uncertainty and Weak Exogeneity

Moral-Benito, Enrique - Banco de España - 2012

This paper considers panel growth regressions in the presence of model uncertainty and reverse causality concerns. For this purpose, my econometric framework combines Bayesian Model Averaging with a suitable likelihood function for dynamic panel models with weakly exogenous regressors and fixed...

Persistent link: https://www.econbiz.de/10010678685

Envy and habits: panel data estimates of interdependent preferences

Alvarez-Cuadrado, Francisco; Casado, Jose Maria; … - Banco de España - 2012

We estimate the importance of preference interdependence from consumption choices. Our strategy follows the literature that tests the constraints imposed by optimality in the evolution of individual consumption. We derive a Euler equation from a preference specification that allows for...

Persistent link: https://www.econbiz.de/10010678688

Endogenous fiscal consolidations

Cos, Pablo Hernández de; Moral-Benito, Enrique - Banco de España - 2011

There is evidence in the literature of fiscal consolidation episodes producing (non-Keynesian) expansionary effects (e.g. Alesina and Ardagna, 1998). We replicate this result for a panel of OECD countries under exogeneity of the fiscal tightening decision, and provide evidence that this decision...

Persistent link: https://www.econbiz.de/10008870938

Cash holdings, firm size and access to external finance. Evidence for the euro area

Martínez-Carrascal, Carmen - Banco de España - 2010

This paper investigates the empirical determinants of corporate cash holdings in the euro area as a function of firm size. The results show that there are significant differences in investment in liquid assets for firms of different size. More specifically, liquid assets for smaller firms in the...

Persistent link: https://www.econbiz.de/10008725821

Testing weak exogeneity in cointegrated panels

Moral-Benito, Enrique; Serven, Luis - Banco de España - 2013

For reasons of empirical tractability, analysis of cointegrated economic time series is often developed in a partial setting, in which a subset of variables is explictly modeled conditional on the rest. This approach yields valid inference only if the conditioning variables are weakly exogenous...

Persistent link: https://www.econbiz.de/10010862255

Income and democracy: revisiting the evidence

Moral-Benito, Enrique; Bartolucci, Cristian - Banco de España - 2011

It is well-known in the literature that income per capita is strongly correlated with the level of democracy across countries. In an infl uential paper, Acemoglu et al. (2008) fi nd that this linear correlation disappears once they control for country-specifi c effects focusing on within-country...

Persistent link: https://www.econbiz.de/10009197206

Measuring and explaining the volatility of capital flows towards emerging countries

Broto, Carmen; Díaz-Cassou, Javier; Erce-Domínguez, Aitor - Banco de España - 2008

This paper analyzes the determinants of the volatility of different types of capital inflows to emerging countries. After calculating a variable that proxies capital flows volatility, we study its possible causality relations with a set of explanatory variables by type of flow through a panel...

Persistent link: https://www.econbiz.de/10005022258