The phenomenon of partisanship in fiscal policy has been a long-lasting topic in the economic literature, from the earlier cross-country studies to more recent empirical analyses at the microeconomic level. However, less is known about the mechanisms that can exacerbate or mitigate this partisan behavior. Using a regression-discontinuity design and a rich electoral and budgetary…
Improving the mathematics performance of school children is an objective for many policy makers around the world. It is obvious that mathematics teachers may have a key role to play in this process; however, robust examination of the teacher characteristics and practices of teachers that help to raise pupil mathematics achievement is relatively sparse, particularly…
Systematic biases in return expectations may distort stock prices and lead to inefficient capital allocation. In this paper, we report experimental evidence that buying a stock induces optimistically biased expectations when its price drops below the purchase price. We find this effect in a controlled laboratory experiment as well as in a six-week-long online experiment…
We assess the unequal effects of the Great Recession on the labor market outcomes of different cohorts of young individuals and education groups in Spain. We provide empirical evidence that young workers in Spain suffer from a high unemployment rate because of a low job-finding rate and a high separation rate. We also document that…
El eminente economista Paul De Grauwe, en la víspera del día de la ceremonia en la que tendrá lugar su investidura como Doctor Honoris Causa de la Universidad de Murcia, impartirá un seminario/conferencia dirigido a los estudiantes del programa de doctorado DEcIDE y, en general, a todos los estudiantes y profesores de la Facultad de…
The existence of a ‘multiplier’, ‘compositional’ or ‘social context effect’ is debated extensively in the literature on school effectiveness. Some researchers have posited that the relationship between social context and achievement is mediated by school, teacher or classroom factors, such as teacher expectations, quality of instruction, or adequacy of school resources. In this context, this…
We use high-performance Continuous Double Auction trading software and algorithms to study the effects of algorithmic trading on pricing and allocative efficiency in a laboratory environment. In addition to trading manually, participants can deploy algorithms that bid marginal valuations modulo a spread and a market-making (maker) or liquidity-taking (taker) parameter. The spread and maker/taker parameters…
La investigación científica y la divulgación, esto es poner al alcance de un público más amplio son dos caras de una misma moneda, pero no es lo mismo. Entre los científicos y también entre los economistas encontramos a grandes investigadores que con el paso de los años también se han convertido en divulgadores muy populares…
