Working papers
Our working papers Discover our latest working papers presenting early-stage research findings form our Economics experts, examining key challenges facing economies and societies.
WP202601 "Bank Heterogeneity, Deep Habits and the Pass-through of Interest Rates" by Oliver de Groot and Gustavo Mellior.
WP202501 "Foreign Exchange Regimes in (Normal Times and) Times of War: Insights from Ukraine" by Oliver de Groot and Yevhenii Skok.
WP202502 "A Regularization Approach to Optimizing Large Portfolios Under Asymmetries in Returns and Risk Attitudes" by Mohamed Doukali, N’Golo Kone and Abderrahim Taamouti.
WP202503 "Copula-based Measures of Extreme Dependence" by Mohamed Doukali, Xiaojun Song and Abderrahim Taamouti.
WP202504 "Modelling the dependence structure for censored Time-to-Events: Theory and Applications" by Yassir Rabhi, Taoufik Bouezmarini and Abderrahim Taamouti.
WP202505 "Big Games: The Importance of Match Significance for Attendances in Four European" by Babatunde Buraimo and David Forrest.
WP202506 "How League Structure Shapes Behaviour: Evidence from Regulatory Changes in Mexico and South Korea" by Juan de Dios Tena.
WP202401 "Safe Implementation" by Malachy James Gavan and Antonio Penta.
WP202402 "A Systematic Test of the Independence Axiom Near Certainty" by Ritesh Jain and Kirby Nielsen.
WP202403 "Elections for sale? Evidence from cash transactions around elections in Italy" by Giuseppe De Feo, Giacomo De Luca, Mario Gara and Marianna Siino.
WP202404 "What Hinders Structural Reforms?" by Shangshang Li.
WP202405 "The Global Financial Cycle and International Monetary Policy Cooperation" by Shangshang Li.
WP202406 "One’s Pain is Another’s Gain - Early Career Exposure and Later Labor Market Outcomes" by Sam Hoey.
WP202407 "CBDC and Banks: Disintermediating Fast and Slow" by Rhys Bidder, Timothy Jackson and Matthias Rottner.
WP202408 "The Macroprudential Role of Central Bank Balance Sheets" by Egemen Eren, Timothy Jackson and Giovanni Lombardo.
WP202409 "Automation and Local Labour Markets: Impact of Immigrant Mobility" by Anand Chopra and Ronit Mukherji.
WP202410 "Intergenerational Mobility, Economic Shocks, and the Role of Human Capital" by Patrick Bennett and Jessica Botros.
WP202411 "Haircut, Interest Rate, and Collateral Quality in the Tri-Party Repo Market: Evidence and Theory" by Sangyup Choi, Inkee Jang, Kee-Youn Kang and Hyunpyung Kim.
WP202412 "Solving HACT models with bankruptcy choice" by Gustavo Mellior and Katsuyuki Shibayama.
WP202413 "Unemployment Insurance and Macro-Financial (In)Stability" by Yavuz Arslan, Ahmet Degerli, Bulent Guler, Gazi Kabas and Burhan Kuruscu.
WP202414 "Intangible Cycles" by Shalini Mitra and Gareth Liu-Evans.
WP202301 "Higher Education Funding, Welfare and Inequality in Equilibrium" by Gustavo Mellior.
WP202303 "The Bias of the Modified Limited Information Maximum Likelihood Estimator (MLIML) in Static Simultaneous Equation Models" by Gareth Liu-Evans & Garry DA Phillips.
WP202304 "Rebate rules in reward-based crowdfunding: Introducing the bid-cap rule" by Fabian Gerstmeier, Yigit Oezcelik, Michel Tolksdorf.
WP202305 "Monetary Policy Transmission with Adjustable and Fixed Rate Mortgages: The Role of Credit Supply" by Fatih Altunok, Yavuz Arslan and Steven Ongena.
WP202306 "Does a super league tournament harm domestic leagues? Evidence from basketball’s Euroleague" by Babatunde Buraimo, Jing Guan and J.D. Tena.
WP202307 "With a little help from my friends. Political competition in the shadow of organized crime" by Pasquale Accardo, Giuseppe De Feo, Giacomo De Luca.
WP202308 "A game of two halves: Determinants of attendance in the FA WSL and male team spillover effects" by Owen Croft and J.D. Tena.
WP202309 "Investigating the impact of consumption distribution on CRRA estimation: Quantile-CCAPM-based approach" by Sofia B. Ramosa, Abderrahim Taamouti and Helena Veiga.
WP202310 "Portfolio Selection Under Non-Gaussianity And Systemic Risk: A Machine Learning Based Forecasting Approach" by Weidong Lin and Abderrahim Taamouti.
WP202311 "Enhancing Portfolio Resilience to Systemic Risk: A Neural Network Approach" by Weidong Lin and Abderrahim Taamouti.
WP202312 "The Effect of Pay Transparency Laws on Wages and Discrimination Complaints" by Patrick Bennett, Ian Burn and Luke Walsh.
WP202313 "Implementation in vNM stable sets" by Ville Korpela, Michele Lombardi and Riccardo D. Saulle.
WP202314 "Threshold MIDAS Forecasting of Inflation Rate" by Chaoyi Chen, Yiguo Sun and Yao Rao.
WP202315 "On Interim Rationalizable Monotonicity" by Ritesh Jain and Michele Lombardi.
WP202316 "Systematic comparison of risky choices in humans and monkeys" by Leo Chi U Seak, Simone Ferrari-Toniolo, Ritesh Jain, Kirby Nielsen and Wolfram Schultz.
WP202317 "Two-Player Rationalizable Implementation" by R. Jain, V. Korpela and M. Lombardi.
WP202318 "Postal Platform Pricing with Limited Consumer Attention" by Christian Bach, Robert Edwards and Christian Jaag.
WP202319 "Non-numerical and social anchoring in consumer-generated ratings" by Yigit Oezcelik, Michel Tolksdorf.
WP202201 "Macroeconomic Effects of Government Spending Shocks" by Syed M. Hussain and Lin Liu
WP202202 " Dreaming of Leaving the Nest Immigration Status?" by Rania Gihleb, Osea Giuntella and Jakub Lonsky
WP202203 "Trade Networks, Heroin Markets and the Labor Market Outcomes of Vietnam Veterans" by Jakub Lonsky, Isabel Ruiz and Carlos Vargas-Silva
WP202204 "On the Relationship between Robust and Rationalizable Implementation" by R Jain and M Lombardi
WP202205 "The Work To School Transitions: Job Displacement and Skill Upgrading" by Patrick Bennett
WP202206 "Women's Leadership Association with Few Better Outcomes and Better Communication" by Supriya Garikipati, Uma Kambhampati and Abhilash Kondagranti
WP202207 "Testing Granger Non-Causality in Expectiles" by Taoufik Bouezmarni, Mohamed Doukali and Abderrahim Taamouti
WP202208 "Portfolio Selection Under Systemic Risk" by Weidong Lin, Jose Olmo and Abderrahim Taamouti
WP202209 "Value-at Risk under Measurement Error" by Mohamed Doukali, Xiaojun Song and Abderrahim Taamouti
WP202210 "Female Jockeys - What are the Odds " by Vanessa Cashmore, Neil Coster, David Forrest, Ian McHale and Babatunde Buraimo
WP202211 "Information Choice and Menstrual Outcomes Evidence from a Community" by Supriya Garikipati and Penelope A. Phillips-Howard
WP202212 "Nonparametric Estimation of Large Spot Volatility Matrices" by Ruijun Bu, Degui Li, Oliver Linton and Hanchao Wang
WP202213 "Communication Effort and the Cost of Language: Evidence from Stack Overflow" by Jacopo Bregolin
WP202214 "Changes in Urban Wages, Jobs and Workers from 1958-2017" by Patrick Bennett, Aline Butikofer, Kjell G. Salvanes and Darina Steskal
WP202215 " A Model of Rent Seeking and Inequality" by Mayuri Chaturvedi
WP202216 "Schooling Down to Marry Up: Marriage Norms and Educational Investments" by Mayuri Chaturvedi
WP202217 "Determinants of School Choice: Evidence from India" by Mayuri Chaturvedi
WP202218 "Implicit Institutional Incentives and Individual Decisions" by Stefano Cabras and J.D. Tena
WP202220 "The Pro-competitive Effects of Trade Agreements" by Meredith Crowley, Lu Han and Thomas Prayer
WP202221 "Designing Rotation Programs: Limits and Possibilities" by Ville Korpela, Michele Lombardi and Riccardo Saulle
WP202222 "Implementation in vNM Stable Set" by Ville Korpela, Michele Lombardi and Riccardo Saulle
WP202223 "The Essentiality of Money in a Trading Post Economy with Random Matching" by Alessandro Marchesiani
WP202224"Managerial Contribution to Firm Success: Evidence from Professional Football Leagues" by Kaori Narita, Benjamin Holmes and Ian McHale
WP202225 "Causal Inference with Observational Data: A Tutorial on Propensity Score Analysis" by Kaori Narita, J.D. Tena and Claudio Detotto
WP202226 "Causal and Consequences of Multiple Dismissals: Evidence from Italian Football League" by Kaori Narita, J.D. Tena and Babatunde Buraimo
WP202227 "The Impact on Chinese Children of Extending Social Medical Insurance Coverage: A Difference-in-Difference with Staggered Treatment Analysis" by Jing Guan and J.D. Tena
WP202228 "Two-Player Rationalizable Implementation" by R Jain, V Korpela and M Lombardi.
WP202101 "Data Brokers Co-Opetition" by Yiquan Gu, Leonardo Madio and Carlo Reggiani.
WP202102 "Exclusive Data, Price Manipulation and Market Leadership" by Yiquan Gu, Leonardo Madio and Carlo Reggiani.
WP202103 "SIR Economic Epidemiological Models with Disease Induced Mortality" by Aditya Goenka, Lin Liu and Manh-Hung Nguyen.
WP202104 "Dominant Currency Dynamics: Evidence on Dollar-Invoicing from UK Exporters" by Meredith Crowley, Lu Han and Minkyu Son.
WP202105 "Emotions and Performance: A Quasi Natural Experiment from the FIFA world cup" by J.D. Tena and Jorge Tovar.
WP202106 "Improving the Estimation and Predictions of Small Time Series Models" by Gareth Liu-Evans.
WP202107 "What's the bleeding problem? Period Poverty, Information Failure and Consumer Preferences in the Global South" by Supriya Garikipati and Penelope A. Phillips-Howard.
WP202108 "Culture, Collectivism and Empowerment: The Role of Feminist Ideologies in Women’s Work and Organization" by Punita Bhatt and Supriya Garikipati.
WP202109 "The Contribution of Jump Signs and Activity to Forecasting Stock Price Volatility" by Ruijun Bu, Rodrigo Hizmeri, Marwan Izzeldin, Anthony Murphy and Mike Tsionas.
WP202110 "Forced to Play Too Many Matches? A Deep- Learning Assessment of Crowded Schedule" by Stefano Cabras, Marco Delogu and J.D. Tena.
WP202111 "Assessing the (De)Stabilizing Effects of Unemployment Benefit Extensions" by Alexey Gorn and Antonella Trigari.
WP202112 "A Toolkit for Computing Constrained Optimal Policy Projections (COPPs)" by Oliver de Groot, Falk Mazelis, Roberto Motto and Annukka Ristiniemi.
WP202113 "Passive Search and Jobless Recoveries" by Alexey Gorn.
WP202114 "Higher Education Funding, Welfare and Inequality in Equilibrium" by Gustavo Mellior.
WP202115 "Credit Supply Driven Boom-Bust Cycles" by Yavuz Arslan, Bulent Guler and Burhan Kuruscu.
WP202116 "Unintended Consequences of Unemployment Insurance Benefits: The Role of Banks" by Yavuz Arslan, Ahmet Degerli and Gazi Kabas.
WP202117 "The Robustness of the 2SLS Mean Squared Error to Non-Normal Disturbances" by Garry DA Phillips and Gareth Liu-Evans.
WP202118 "Housework and Well-being in Dual-Earner Work from Home Households" by Supriya Garikipati, Neha Hui and Uma Kambhampati.
WP202001 "Gender and quality at top economics journals " by Erin Hengel and Eunyoung Moon.
WP202002 "Increasing Market Power in Slovenia: Role of Diverging Trends between Exporters " by Joze Damijan, Jozef Konings and Aigerim Yergabulova.
WP202003 "What works for rural incomes under climate variability?" by Ilkwon Lee and Supriya Garikipati.
WP202004 "Market Intelligence Gathering and Money Demand" by Seon Tae Kim and Alessandro Marchesiani.
WP202005 "Exploring Sustainability in Cultural Heritage Tourism Planning" by Urmila Jha-Thakur, Fatemeh Khosravi, Giamila Quattrone, Soumyen Bandyopadhyay, Ian Magedera and Supriya Garikipati.
WP202006 "Spectator Demand for the Sport of Kings" by Babatunde Buraimo, Neil Coster and David Forrest.
WP202007 "Invoicing and Pricing-to-market: Evidence on international pricing by UK exporters" by Giancarlo Corsetti, Meredith Crowley and Lu Han.
WP202008 "Impact of Family Planning Policy on Gender Inequality: Evidence from China " by Yining Geng.
WP202009 "Physical Activity, Leisure-Time, Cognition and Academic Grades: Connections and Causal Effects in Chinese Students" by Jing Guan and J.D. Tena.
WP202010 "Price-cost margins and fixed costs " by Filip Abraham, Yannick Bormans, Jozef Konings and Werner Roeger.
WP202011 "Time to go? Head Coach Quits and Dismissals in Professional Football" by Alex Bryson, Babatunde Buraimo, Alex Farnell and Rob Simmons.
WP202012 "Is gambling a tax on stupidity?" by Niko Suhonen, Jani Saastamoinen, David Forrest and Tuomo Kainulainen.
WP202013 "Who wins at the Chess Olympics? The role of resources and education capital" by David Forrest, J.D Tena and Carlos Varela-Quintana.
WP202014 "Feminist Ideologies at Work: Culture, Collectivism and Entrepreneurship among Poor Women in India" by Punita Bhatt and Supriya Garikipati.
WP202015 "Asymmetric Information in Menstrual Health and Implications for Sustainability: Insights from India" by Supriya Garikipati.
WP202016 "Leading the Fight Against the Pandemic: Does Gender ‘Really’ Matter? " by Supriya Garikipati and Uma Kambhampati.
WP202017 "Does sport affect health and wellbeing or is it the other way around? A note on reversecausality in empirical applications" by Jing Guan and J.D. Tena.
WP202018 "Gender Typicality and Sexual Minority Labor Market Differentials" by Ian Burn and Michael E. Martell.
WP202019 "Impacts of the Great Recession on sport: Evidence from English Football League attendance demand" by Babatunde Buraimo, Giuseppe Migali and Rob Simmons.
WP202020 "Armchair fans: New insights into the demand for televised soccer" by Babatunde Buraimo, David Forrest, Ian G. McHale and J.D. Tena.
WP202021 "Uniform and Lp Convergences of Nonparametric Estimation for Diffusion Models " by Ruijun Bu, Jihyun Kim and Bin Wang.
WP202022 "Application of the Absorption Ratio to Illustrate Financial Connectedness and Interlinkages" by Emma Apps.
WP202023 "Assessing the Impact of Interlinkages on Value-at-Risk " by Emma Apps.
WP202024 "Applying a Bayesian Network to VaR Calculations " by Emma Apps.
WP202025 "Modeling optimal quarantines under infectious disease related mortality" by Aditya Goenka, Lin Liu and Manh-Hung Nguyen.
WP202026 "Macroeconomic Effects of Government Spending Shocks: New Narrative Evidence from Canada" by Syed M. Hussain and Lin Liu.
WP202027 "Foreign Exchange Intervention and Financial Stability " by Pierre-Richard Agénor, Timothy P. Jackson and Luiz Pereira da Silva.
WP202028 "Cross-Border Regulatory Spillovers and Macroprudential Policy Coordination" by Pierre-Richard Agénor, Timothy P. Jackson and Luiz Pereira da Silva.
WP202029 "How Should Governments Create Liquidity?" by Timothy Jackson and George Pennacchi.
WP202030 "Formal sector enforcement and welfare" by Kaori Naritaa, J.D. Tena and Claudio Detottoc.
WP202031 "What Makes the Ideal Profile of a New Manager in Times of Adversity? " by Gareth Liu-Evans and Shalini Mitra.
WP202032 "A Natural Experiment on the Effect of Instruction Time and Quality: Lessons for the Covid-19 Outbreak" by Ismael Sanz and J.D. Tena.
WP201901 "Women's progress after atrocity and Post traumatic growth" by David E. Hojman.
WP201902 "Exchange Rate Pass-through after a Large Depreciation" by Anatoli Colicev, Joris Hoste and Jozef Konings.
WP201903 "Informality and Bank Stability" by Gareth Lui-Evans and Shalini Mitra.
WP201904 "Valuation Risk Revalued" by Oliver de Groot, Alexander W Richter and Nathanial A. Throckmorton.
WP201905 "The Signalling Channel of Negative Interest Rates" by Oliver de Groot and Alexander Haas.
WP201906 "One strike and you're out! The Master Lever's effect on senatorial policy-making" by Olga Gorelkina, Ionna Grypari and Erin Hengel.
WP201907 "What’s the bleeding problem? Policy and attitudes towards sustainable menstrual hygiene materials in India" by Ranjula Bali Swain and Supriya Garikipati.
WP201909 "The Mutable Geography of Firms International Trade" by Lu Han.
WP201910 "Innovation and Inequality from Stagnation to Growth" by Angus C. Chu and Pietro Peretto.
WP201911 "Dynamic Effects of Patent Policies" by Angus C. Chu, Yuichi Furukawa, Sushanta Mallick, Pietro Peretto and Xilin Wang.
WP201912 "Effects of Minimum Wage on Automation and Innovation" by Angus C. Chu, Guido Cozzi, Yuichi Furukawa and Chih-Hsing Liao.
WP201913 "Optimal Capital Taxation" by Ping-ho Chen, Angus C. Chu, Hsun Chu and Ching-chong Lai.
WP201914 "Exchange Rate Pass through after a Large Depreciation" by Anatoli Colicev, Joris Hoste and Jozef Konings.
WP201915 "The Coase Theorem and alternative business models of festivals: From failure to success as SuperRonald saves the world again?" by Julia J. Hiscock and David E. Hojman.
WP201916 " Global v. Local Methods in the Analysis of Open-Economy Models with Incomplete " by Oliver de Groot, C. Bora Durdu and Enrique G. Mendoza.
WP20181 “Declining Business Dynamism in Belgium” by Gert Bijnens and Jozef Konings.
WP20182 "Collusion via Information Sharing and Optimal Auctions" by Olga Gorelkina.
WP20183 "A Multi-Factor Transformed Diffusion Model with Applications to VIX &VIX Futures" by Ruijun Bu, Fredj Jawadi, and Yuyi Li.
WP20184 "Diffusion Copulas Identification and Estimation" by Ruijun Bu, Kaddour Hadri and Dennis Kristensen.
WP20185 "Structural Change and the Problem of Phantom Break Locations" by Yao Rao and Brendan McCabe.
WP20186 "How Do Households Allocate Risk?" by Christoph Engel, Alexandra Fedorets and Olga Gorelkina.
WP20187 "Estimating the Effect of Physical Exercise on Juveniles’ Health Status" by Jing Guan and J.D. Tena.
WP20188 "Estimating the Impact of Social Medical Insurance Schemes on Children’s Health" by Jing Guana and J.D. Tena.
WP20189 "Social Pressure or Rational Reactions to Incentives?" by Stefano Cabras J. James Reade J.D. Tena.
WP201810 "Evolutionary Equilibrium in Contests with Stochastic Participation" by Yiquan Gu, Burkhard Hehenkamp, Wolfgang Leininger.
WP201811 "Does Foreign Aid Improve Gender Performance" by Ranjula Bali Swain and Supriya Garikipati.
WP201812 "Persistent Misallocation and the Productivity Slowdown in EU" by Shalini Mitra.