REM Working Papers REM WPs at IDEAS

Working Papers
Corruption and economic growth: does the size of the government matter? António Afonso, Eduardo de Sá Fortes Leitão Rodrigues Working Paper 0164-2021
Honing in on Housing Zoë Venter Working Paper 0163-2021
The Role of Fiscal Policies for External Imbalances: Evidence from the European Union António Afonso, José Carlos Coelho Working Paper 0162-2021
Explainable models of credit losses João A. Bastos, Sara M. Matos Working Paper 0161-2021
Does the Introduction of Stock Exchange Markets Boost Economic Growth in African Countries? António Afonso, Max Reimers Working Paper 0160-2021
Asset Liability Management: Evidence from the Banco de Portugal defined benefit pension fund Maria Teresa Medeiros Garcia, Liane Costa Gabriel Working Paper 0159-2021
(Non-) Keynesian Effects of Fiscal Austerity: New Evidence from a large sample António Afonso, José Alves, João Tovar Jalles Working Paper 0158-2021
Global value chains, value-added generation and structural change in EU core and periphery economies: An Input-Output approach Tiago Domingues, João Ferreira do Amaral, João Carlos Lopes Working Paper 0157-2021
International transmission of interest rates: the role of international reserves and sovereign debt António Afonso, Florence Huart, João Tovar Jalles, Piotr Stanek Working Paper 0156-2021
Financial development and macroeconomic performance: a cointegration approach Cândida Ferreira Working Paper 0155-2020
Breaking Life Expectancy into Small Pieces Andrey Ugarte and Onofre Alves Simões Working Paper 0154-2020
The Interplay between Monetary and Fiscal Policies in the EU Antonio Afonso, Alexandre Sousa Working Paper 0153-2020
Post-Cartel Behavior: assessing the effects of antitrust policy on Brazilian fuel market Pedro Cavalcanti G. Ferreira Working Paper 0152-2020
On the Political Economy Determinants of Tax Reforms: Evidence from Developing Countries Sanjeev Gupta and João Tovar Jalles Working Paper 0151-2020
Uncertainty and the Effectiveness of Fiscal Policy in the United States and Brazil: SVAR Approach Eduardo de Sá Fortes Leitão Rodrigues Working Paper 0150-2020
Reinsurance of multiple risks with generic dependence structures M. Guerra, A.B. de Moura Working Paper 0149-2020
Public Debt and Economic Growth in Brazil António Afonso, Sérgio Gadelha, Agatha Silva Working Paper 0148-2020
Government Spending Efficiency, Measurement and Applications: a Cross-country Efficiency Dataset António Afonso, João Tovar Jalles, Ana Venâncio Working Paper 0147-2020
Structural Tax Reforms and Public Spending Efficiency António Afonso, João Tovar Jalles, Ana Venâncio Working Paper 0146-2020
Evolução das assimetrias na produção de conhecimento científico e tecnológico a nível global: análise com enfoque nas trajetórias de Brasil e Portugal Manuel Mira Godinho Working Paper 0145-2020
An Empirical Assessment of Monetary Policy Channels on Income and Wealth Disparities José Alves, Tomás Silva Working Paper 0144-2020
Germany as a role model for structural adjustment of peripheral Eurozone economies: the Portuguese case Marta Silva and João Carlos Lopes Working Paper 0143-2020
The Pandemonics of Informal Credit Markets Filipe Correia, António Martins Working Paper 0142-2020
(De) industrialization in the Von Thünen’s economy José Pedro Pontes, Armando J. Garcia Pires Working Paper 0141-2020
Terror and its Fiscal Consequences Benedict Clements, Sanjeev Gupta, João Tovar Jalles, Saida Khamidova Working Paper 0140-2020
Investment Home Bias in the European Union António Martins Working Paper 0139-2020
Dream Jobs Giordano Mion, Luca David Opromolla, Gianmarco I.P. Ottaviano Working Paper 0138-2020
Tax Revenue Reforms and Income Distribution in Developing Countries Sanjeev Gupta, João Tovar Jalles Working Paper 0137-2020
Time Inhomogeneous Multivariate Markov Chains: Detecting and Testing Multiple Structural Breaks Occurring at Unknown Bruno Damásio, João Nicolau Working Paper 0136-2020
Measuring inequality of opportunity across EU-SILC countries: national and urban-rural perspectives Zbigniew Mogila , Patricia C. Melo, José M. Gaspar Working Paper 0135-2020
Exploring the relation between income mobility and inequality at the regional level using EU-SILC microdata Zbigniew Mogila , Patricia C. Melo, José M. Gaspar Working Paper 0134-2020
Explaining higher education progress through risk dominance in an n-person coordination (Stag Hunt) game José Pedro Pontes Working Paper 0133-2020
This Changes Everything: Climate Shocks and Sovereign Bonds Serhan Cevik, João Tovar Jalles Working Paper 0132-2020
Financial Crises and Climate Change João Tovar Jalles Working Paper 0131-2020
On the Performance of US Fiscal Forecasts: Government vs. Private Information Zidong An, João Tovar Jalles Working Paper 0130-2020
The Size of Government António Afonso, Ludger Schuknecht, Vito Tanzi Working Paper 0129-2020
Indicators of Economic Crises: A Data-Driven Clustering Approach Maximilian Göbel and Tanya Araújo Working Paper 0128-2020
The return of fiscal policy and the euro area fiscal rule Vítor Constâncio Working Paper 0127-2020
The Disposition Effect among mutual fund participants: A Re-Examination Paulo Silva, Victor Mendes, Margarida Abreu Working Paper 0126-2020
Labour Productivity in State-Owned Enterprises António Afonso, Maria João Guedes, Pankaj C. Patel Working Paper 0125-2020
Self-defeating austerity in Portugal during the Troika’s economic and financial adjustment programme José Carlos Coelho Working Paper 0124-2020
The Interaction Between Macroprudential Policy and Financial Stability Zoe Venter Working Paper 0123-2020
Neural Network pricing of American put options Raquel Gaspar, Sara D. Lopes, Bernardo Sequeira Working Paper 0122-2020
A new assessment of the Troika´s economic policy for Portugal in 2012 following an Input-Output approach José Carlos Coelho Working Paper 0121-2020
Political Budget Cycles in the Eurozone Frederico Silva Leal Working Paper 0120-2020
Exposure of Belt and Road Economies to China Trade Shocks Paulo Bastos Working Paper 0119-2020
Robots, Tasks, and Trade Erhan Artuc, Paulo Bastos, Bob Rijkers Working Paper 0118-2020
Semimetric spaces: topological considerations João Ferreira do Amaral Working Paper 0117-2020
The relationship between budget deficit and external deficit: the case of Portugal José Carlos Coelho Working Paper 0116-2020
Accuracy of European Stock Target Prices Joana Almeida, Raquel M. Gaspar Working Paper 0115-2020
Spatial trends of manufacturing – a Von Thünen – Mills approach José Pedro Pontes, Armando J. Garcia Pires Working Paper 0114-2020
Growth Accounting and Regressions: New approach and results Tiago Sequeira, Hugo Morão Working Paper 0113-2020
Sovereign debt crisis in Portugal and Spain António Afonso, Nuno Verdial Working Paper 0112-2019
Sovereign Indebtedness and Financial and Fiscal Conditions António Afonso, João Tovar Jalles Working Paper 0111-2019
The Short-Run and Long-Run Determinants of Household Saving: Evidence from OECD countries Philemon Kwame Opoku Working Paper 0110-2019
Evaluating the European bank efficiency using Data Envelopment Analysis: evidence in the aftermath of the recent financial crisis Cândida Ferreira Working Paper 0109-2019
Periodic attractor in the discrete time best-response dynamics of the rock-paper-scissors game José Pedro Gaivão, Telmo Peixe Working Paper 0108-2019
Endogenous Quality and Firm Entry Rui Faustino Working Paper 0107-2019
Deep Habits in New Keynesian model with durable goods Rui Faustino Working Paper 0106-2019
The development of higher education in Europe as a “coordination game” José Pedro Pontes and Ana Paula Buhse Working Paper 0105-2019
Polluting Emissions and GDP: Decoupling Evidence from Brazilian States João Tovar Jalles Working Paper 0104-2019
Fiscal Discipline and Exchange Rates: Does Politics Matter? João Tovar Jalles, Carlos Mulas-Granados, José Tavares Working Paper 0103-2019
Monetary Aggregates and Macroeconomic Performance: the Portuguese Escudo, 1911-1999 João Tovar Jalles Working Paper 0102-2019
Wagner and the Fading Voracity Effect: Short vs. Long-Run Effects in Developing Countries João Tovar Jalles Working Paper 0101-2019
Explaining Africa's Public Consumption Procyclicality: Revisiting Old Evidence João Tovar Jalles Working Paper 0100-2019
Long-run relationship between exports and imports: current account sustainability tests for the EU António Afonso, Florence Huart, João Tovar Jalles and Piotr Stanek Working Paper 099-2019
Improving Schools through School Choice: An Experimental Study of Deferred Acceptance Flip Klijn, Joana Pais, Marc Vorsatz Working Paper 098-2019
Fiscal episodes in the EMU: Elasticities and non-keynesian effects António Afonso, Frederico Silva Leal Working Paper 097-2019
The Interaction Between Conventional Monetary Policy and Financial Stability: Chile, Colombia, Japan, Portugal and the UK Zoe Venter Working Paper 096-2019
Young farmers as innovation enablers in rural areas: the role of the EU’s support in a Portuguese peripheric region, Trás-os-Montes Ana Isabel Guerra and João Carlos Lopes Working Paper 095-2019
On Path–dependency of Constant Proportion Portfolio Insurance strategies João Carvalho, Raquel M. Gaspar and João Beleza Sousa Working Paper 094-2019
Pulled-to-Par Returns for Zero Coupon Bonds - Historical Simulation Value at Risk J. Beleza Sousa, Manuel L. Esquível and Raquel M. Gaspar Working Paper 093-2019
Investors' Perspective on Portfolio Insurance - Expected Utility vs Prospect Theories Raquel M. Gaspar and Paulo M. Silva Working Paper 092-2019
Labour Productivity, Wages and the Functional Distribution of Income in Portugal: A Sectoral Approach João Carlos Lopes, José Carlos Coelho, Vítor Escária Working Paper 091-2019
The dynamic relationship between stock market indexes and foreign exchange Maria Teresa Medeiros Garcia, Ana Catarina Gomes Rodrigues Working Paper 090-2019
The Role of Central Banks and the Political Environment in Financial Stability: A Literature Review Zoe Venter Working Paper 089-2019
Some stylized facts about deindustrialization in Europe José Pedro Pontes Working Paper 088-2019
Global Capital Flows and the Role of Macroprudential Policy* Sudipto Karmakar and Diogo Lima Working Paper 087-2019
The Evolution of the World’s Production Fragmentation: 2000 – 2014, a network analysis Susana Vieira, Renato G. Flôres Jr., Maria Paula Fontoura Working Paper 086-2019
The Impact of Hedge Fund indices on portfolio performance Maria Teresa Medeiros Garcia, Gonçalo Liberal Working Paper 085-2019
Efficiency of the European banks in the aftermath of the financial crisis: A panel stochastic frontier approach Cândida Ferreira Working Paper 084-2019
Crises and Emissions:New Empirical Evidence from a Large Sample João Tovar Jalles Working Paper 083-2019
On the Cyclicality of Social Expenditure: New Time-Varying evidence from Developing Economies João Tovar Jalles Working Paper 082-2019
Cross-country Evidence on the Determinants of Inclusive Growth Episodes João Tovar Jalles, Luiz de Mello Working Paper 081-2019
Taxation and Public Spending Efficiency: An International Comparison António Afonso, João Tovar Jalles, Ana Venâncio Working Paper 080-2019
Measuring Gender Disparities in Unemployment Dynamics during the Recession: Evidence from Portugal Joana Passinhas, Isabel Proença Working Paper 079-2019
How “Big” Should Government Be? António Afonso, Ludger Schuknecht Working Paper 078-2019
Controlling Algorithmic Collusion: short review of the literature, undecidability, and alternative approaches João E. Gata Working Paper 077-2019
Into the heterogeneities in the Portuguese labour market: an empirical assessment Fernando Martins, Domingos Seward Working Paper 076-2019
Regional development of education as a "coordination game" Ana Paula Buhse, José Pedro Pontes Working Paper 075-2019
Market Timing with Option-Implied Distributions in an Exponentially Tempered Stable Lévy Market João Guerra, Manuel Guerra, Zachary Polaski Working Paper 074-2019
Do households care about cash? Exploring the heterogeneous effects of India's demonetization Sudipto Karmakar, Abhinav Narayanan Working Paper 073-2019
Sovereign Ratings and Finance Ministers’ Characteristics António Afonso, João Tovar Jalles Working Paper 072-2019
Local territorial reform and regional spending efficiency António Afonso, Ana Venâncio Working Paper 071-2019
Asymptotic Poincaré Maps along the Edges of Polytopes Hassan Najafi Alishah, Pedro Duarte, Telmo Peixe Working Paper 070-2019
Permanence in Polymatrix Replicators Telmo Peixe Working Paper 069-2019
Assessing Pension Expenditure Determinants – the Case of Portugal Maria Teresa Medeiros Garcia, André Fernando Rodrigues Rocha da Silva Working Paper 068-2019
The Effects of Macroeconomic, Fiscal and Monetary Policy Announcements on Sovereign Bond Spreads: An Event Study from the EMU António Afonso, João Tovar Jalles, Mina Kazemi Working Paper 067-2019
Stock Flow Adjustments in Sovereign Debt Dynamics: The Role of Fiscal Frameworks António Afonso, João Tovar Jalles Working Paper 066-2019
The Transmission of Unconventional Monetary Policy to Bank Credit Supply: Evidence from the TLTRO António Afonso, Joana Sousa-Leite Working Paper 065-2019
On the use of Hedonic Regression Models to Measure the Effect of Energy Efficiency on Residential Property Transaction Prices: Evidence for Portugal and Selected Data Issues Rui Evangelista, Esmeralda A. Ramalho, João Andrade e Silva Working Paper 064-2019
Demographic Changes in a Small Open Economy with Endogenous Time Allocation and Age-Dependent Mortality João Pereira Working Paper 063-2019
A DSGE Model to Evaluate the Macroeconomic Impacts of Taxation José Alves Working Paper 062-2018
The Relationship between Fiscal and Current Account Imbalances in OECD Economies António Afonso, Philemon Kwame Opoku Working Paper 061-2018
An Horizontal Innovation Growth Model with Endogenous Time Allocation and Non-Stable Demography Manuel Guerra, João Pereira, Miguel St. Aubyn Working Paper 060-2018
Quasi-Maximum Likelihood and the Kernel Block Bootstrap for Nonlinear Dynamic Models Paulo M.D.C. Parente, Richard J. Smith Working Paper 059-2018
The impact of tax structure on investment: an empirical assessment for OECD countries José Alves Working Paper 058-2018
The sinful side of taxation: is it possible to satisfy the government hunger for revenues while promoting economic growth? José Alves Working Paper 057-2018
Life cycles with Endogenous Time Allocation and Age-Dependent Mortality Manuel Guerra, João Pereira, Miguel St. Aubyn Working Paper 056-2018
Generalised Empirical Likelihood Kernel Block Bootstrapping Paulo M.D.C. Parente, Richard J. Smith Working Paper 055-2018
The Impact of Foreign Aid on Aggregate Welfare Measures: A Panel Data Analysis José Alves, Cláudia Couto Working Paper 054-2018
Capital Account Liberalization and the Composition of Bank Liabilities Luís A. V. Catão, Daniel Marcel te Kaat Working Paper 053-2018
Sovereign Bond Yield Spreads Spillovers in the EMU António Afonso, Mina Kazemi Working Paper 052-2018
Optimal Tax Structure for Consumption and Income Inequality: an Empirical Assessment António Afonso, José Alves Working Paper 051-2018
A General Equilibrium Theory of Occupational Choice under Optimistic Beliefs about Entrepreneurial Ability Michelle Dell’Era, Luca David Opromolla, Luís Santos-Pinto Working Paper 050-2018
To Ask or Not To Ask? Collateral versus Screening in Lending Relationships Hans Degryse, Artashes Karapetyan, Sudipto Karmakar Working Paper 049-2018
Globalisation and economic growth: A panel data approach Cândida Ferreira Working Paper 048-2018
Fiscal Multipliers in the Eurozone: A SVAR Analysis António Afonso and Frederico Silva Leal Working Paper 047-2018
Financial Development and Economic Growth: A Study for OECD Countries in the Context of Crisis António Afonso and M. Carmen Blanco-Arana Working Paper 046-2018
Tax incidence and fiscal systems: some problems on tax compared history in XIX and XX centuries José Alves Working Paper 045-2018
Modeling insurgent-incumbent dynamics: Vector autoregressions, multivariate Markov chains, and the nature of technological competition Bruno Damásio and Sandro Mendonça Working Paper 044-2018
The 21st Century - Cluster Formation in the S&P 500 Maximilian Göbel and Tanya Araújo Working Paper 043-2018
Decomposing and Analysing the Determinants of Current Accounts’ Cyclicality: Evidence from the Euro Area António Afonso, João Jalles Working Paper 042-2018
Demand, Supply and Markup Fluctuations Carlos D. Santos, Luís F. Costa, Paulo Brito Working Paper 041-2018
The networks of inter-industry flows in a SAM framework Susana Santos, Tanya Araújo Working Paper 040-2018
Non-base wage components as a source of wage adaptability to shocks: Evidence from European firms, 2010-2013 Jan Babecky, Clémence Berson, Ludmila Fadejeva, Ana Lamo, Petra Marotzke, Fernando Martins, Pawel Strzelecki Working Paper 039-2018
Government Size, Unemployment, and Inflation Nexus in Eight Large Emerging Market Economies António Afonso, Huseyin Sen, Ayse Kaya Working Paper 038-2018
The effects of official and unofficial information on tax compliance Filomena Garcia, Luca David Opromolla, Andrea Vezzulli, Rafael Marques Working Paper 037-2018
Real Effects of Financial Distress: The Role of Heterogeneity Francisco Buera, Sudipto Karmakar Working Paper 036-2018
A static approach to the Nelson-Siegel-Svensson model: an application for several negative yield cases Maria Teresa Medeiros Garcia, Vítor Hugo Ferreira Carvalho Working Paper 035-2018
Calibration and the estimation of macroeconomic models Nikolay Iskrev Working Paper 034-2018
Are asset price data informative about news shocks? A DSGE perspective Nikolay Iskrev Working Paper 033-2018
The role of infrastructure efficiency in economic development – the case of underused highways in Europe José Pedro Pontes, Joana Pais Working Paper 032-2018
Twin Deficits Revisited: a role for fiscal institutions? António Afonso, Florence Huart, João Tovar Jalles, Piotr Stanek Working Paper 031-2018
Social Dominance Ludger Schuknecht, Holger Zemanek Working Paper 030-2018
The Macroeconomic Effects of Public Debt: An Empirical Analysis of Mozambique António Afonso, Yasfir Ibraimo Working Paper 029-2018
The Policy Mix in the US and EMU: Evidence from a SVAR Analysis António Afonso, Luís Gonçalves Working Paper 028-2018
Reforms and External Balances in Southern Europe and Ireland Luís A. V. Catão Working Paper 027-2018
Do Individual Investors Trade Differently in Different Markets? Margarida Abreu, Victor Mendes Working Paper 026-2018
Deindustrialization in the light of classical location theory Armando J. G. Pires, José Pedro Pontes Working Paper 025-2018
Impact of public and private sector external debt on economic growth Jorge Silva Working Paper 024-2018
Does Country Size Affect the Relationship between Population Density and Labour Productivity? Theory and Evidence for Europe José Pedro Pontes, Patrícia Melo Working Paper 023-2018
Exchange-traded Funds as an Alternative Investment Option: A Case Study António Afonso, Pedro Cardoso Working Paper 022-2017
Are external accounts sustainable in Portugal? Jorge Silva Working Paper 021-2017
Quantitative Easing and Sovereign Yield Spreads: Euro-Area Time-Varying Evidence António Afonso, João Jalles Working Paper 020-2017
Pricing Perpetual Put Options by the Black-Scholes Equation With a Nonlinear Volatility Function Maria do Rosário Grossinho, Yaser Faghan Kord, Daniel Sevcovic Working Paper 019-2017
Pricing American Call Option by the Black-Scholes Equation With a Nonlinear Volatility Function Maria do Rosário Grossinho, Yaser Faghan Kord, Daniel Sevcovic Working Paper 018-2017
The Welfare Costs of Self-Fulfilling Bank Runs Elena Mattana, Ettore Panetti Working Paper 017-2017
Fiscal Reaction Functions Across the World: A Battle of Statistical (In-) Significance António Afonso, João Jalles Working Paper 016-2017
Do Fiscal Rules Lower Government Financing Costs? António Afonso, João Jalles Working Paper 015-2017
The Investor in Structured Retail Products: Marketing Driven or Gambling Oriented? Margarida Abreu, Victor Mendes Working Paper 014-2017
Convexity in semi-metric spaces, decision theory and consumer theory João Ferreira do Amaral Working Paper 013-2017
Location of R&D activities by vertical multinationals over asymmetric countries Carlos Eduardo Lobo, Silva and José Pedro Pontes Working Paper 012-2017
The Inversion of the Spatial Lag Operator in Binary Choice Models: Fast Computation and a Closed Formula Approximation Luís Silveira Santos, Isabel Proença Working Paper 011-2017
Iterated Local Search Algorithm for the Vehicle Routing Problem with Backhauls and Soft Time Windows José Brandão Working Paper 010-2017
Leverage and Risk Weighted Capital Requirements Leonardo Gambacorta, Sudipto Karmakar Working Paper 009-2017
Financial Crisis, banking sector performance and economic growth in the European Union Cândida Ferreira Working Paper 008-2017
How Biased is the Behavior of the Individual Investor in Warrants? Margarida Abreu Working Paper 007-2017
Transport-Induced Agglomeration Effects: Evidence for US Metropolitan Areas Patricia C. Melo, Daniel J. Graham Working Paper 006-2017
Renormalization of Gevrey Vector Fields with a Brjuno Type Arithmetical Condition João Lopes Dias, José Pedro Gaivão Working Paper 005-2017
Static versus Dynamic Deferred Acceptance in School Choice: Theory and Experiment Flip Klijn, Joana Pais, Marc Vorsatz Working Paper 004-2017
Decentralized Matching Markets With(out) Frictions: A Laboratory Experiment Joana Pais, Ágnes Pintér, Róbert F. Veszteg Working Paper 003-2017
"Whatever it takes" to resolve the European sovereign debt crisis? Bond pricing regime switches and monetary policy effects António Afonso, Michael G. Arghyrou, María Dolores Gadea, Alexandros Kontonikas Working Paper 002-2017
Assessing the Sustainability of External Imbalances in the European Union António Afonso, Florence Huart, João Tovar Jalles, Piotr Stanek Working Paper 001-2017