ABSTRACT In a unique dataset that covers virtually all bank loans granted in Portugal, we find that when a firm borrows from one additional bank, the interest rate on bank loans for this firm decreases on average by 14 to 28 basis points.(…)
We present a difference-in-differences analysis of the road safety effects of introducing tolls on SCUT highways in Portugal, a policy motivated purely by financial considerations, as congestion was never an issue. (…)
The paper studies the impact of a switch from free to charged highway provision on firm numbers and private sector employment in a cross-section of Portuguese municipalities. (…)
Using data for a large panel of countries, this paper investigates the role played by income inequality and fiscal stimuli episodes in shaping the likelihood of political stability. (…)
The debate over political gender quotas is unduly confined to a supposed trade-off between diversity and competence. We characterize the effects of a political gender quota in a citizen-candidate model (…)
Factual evidence since the start of the global financial crisis in 2008 shows that the Euro area members face strong challenges to attain simultaneously internal (employment and output) and external (balance of payments) balance. (…)
We investigate the impact of sovereign defaults on the ability of the corporate sector in emerging nations to finance itself abroad. We test the hypothesis that sovereign defaults have a negative spillover onto the private sector through credit rationing. (…)
We compare model forecast error statistics with forecast error statistics of professional forecasts. We look at a standard sticky-prices–wages model, concluding that it delivers too strong a theoretical forecastability of the variables under scrutiny (…)
Following Hidalgo et al.(SciMag 317: 482–487, 2007), we use the structure of international trade to estimate a measure of “revealed relatedness” for each pair of internationally traded products (…)
