Archives for IRES

Nuno Palma (European University Institute and the University of Groningen) The existence and persistence of liquidity effects: evidence from a large-scale historical natural experiment Abstract: The discovery of mines of precious metals in Central and South America led to a massive...

Albert Marcet (CSIC, ICREA, UAB, MOVE, Barcelona GSE & CEPR) Stock Price Booms and Expected Capital Gains? Abstract: The booms and busts in U.S. stock prices over the post-war period can to a large extent be explained by fluctuations in investors’ subjective capital gains...

Valérie Smeets (Aarhus University) Multi-product firms, import competition and the evolution of firmproduct technical efficiencies Abstract: We study how increased import competition induced by falling Chinese import tariffs affects the evolution of firm-product technical efficiencies...

Pedro Teles (Universidade Católica Portuguesa) More on Taxation of Capital Abstract: Should capital income taxes be zero in the long run, as argued by Chamley (1986) and Judd (1985)? Or should instead capital be heavily taxed as suggested by Straub and Werning (2015)? We revisit the...