Working Papers

From Banco de Portugal, Economics and Research Department
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2018: Credit Subsidies

Pedro Teles and Fiorella De Fiore

2018: Does domestic demand matter for firms’ exports?

António Rua, Paulo Esteves and Miguel Portela

2018: Bank credit allocation and productivity: stylised facts for Portugal

Nuno Azevedo

2018: Bank shocks and firm performance: New evidence from the sovereign debt crisis

Luísa Farinha and Marina-Eliza Spaliara

2018: Exploring the implications of different loan-to-value macroprudential policy designs

Sandra Gomes and Rita Basto

2018: A General Equilibrium Theory of Occupational Choice under Optimistic Beliefs about Entrepreneurial Ability

Luca David Opromolla and Michele Dell'Era

2018: CEO Performance in Severe Crises: The Role of Newcomers

João Amador, Sharmin Sazedj and Jose Tavares

2018: Thirty Years of Economic Growth in Africa

António Santos and João Amador

2018: To Ask or Not To Ask? Collateral versus Screening in Lending Relationships

Artashes Karapetyan

2018: Every cloud has a silver lining: micro-level evidence on the cleansing effects of the portuguese financial crisis

Daniel Dias

2018: Testing the fractionally integrated hypothesis using M estimation: With an application to stock market volatility

Paulo Rodrigues and Matei Demetrescu

2018: When losses turn into loans: the cost of undercapitalized banks

Luísa Farinha and Francisca Rebelo

2018: Cross-border spillovers of monetary policy: what changes during a financial crisis?

Diana Bonfim, Luciana Barbosa, Sónia Costa and Mary Everett

2018: Structural Changes in the Duration of Bull Markets and Business Cycle Dynamics

Paulo Rodrigues and João Cruz

2018: An integrated financial amplifier: the role of defaulted loans and occasionally binding constraints in output fluctuations

José Maria and Paulo Júlio

2018: Collateral Damage? Labour Market Effects of Competing with China - at Home and Abroad

Sonia Cabral and Pedro Martins

2018: Fear the walking dead: zombie firms, spillovers and exit barriers

Christian Osterhold

2018: International trade in services: Evidence for Portuguese firms

João Amador, Sonia Cabral and Birgitte Ringstad

2018: The effects of official and unofficial information on tax compliance

Luca David Opromolla and Filomena Garcia

2018: Flexible wage components as a source of wage adaptability to shocks:evidence from European firms, 2010–2013

Fernando Martins and Jan Babecký

2018: Did recent reforms facilitate EU labour market adjustment? Firm level evidence

Fernando Martins and Mario Izquierdo

2018: Real Effects of Financial Distress: The Role of Heterogeneity

Francisco Buera

2018: The returns to schooling unveiled

Hugo Reis, Paulo Guimaraes, Pedro Portugal and Ana Rute Cardoso

2018: The Effect of Firm Cash Holdings on Monetary Policy

Bernardino Adão and Andre Silva

2018: Sub-Optimality of the Friedman Rule with Distorting Taxes

Bernardino Adão and Andre Silva

2018: Are asset price data informative about news shocks? A DSGE perspective

Nikolay Iskrev

2018: Calibration and the estimation of macroeconomic models

Nikolay Iskrev

2018: O Aprofundamento da União Económica e Monetária

Cláudia Braz, João Amador and João Valle e Azevedo

2017: Goods and Factor Market Integration: A Quantitative Assessment of the EU Enlargement

Luca David Opromolla and Lorenzo Caliendo

2017: A Theory of Government Bailouts in a Heterogeneous Banking System

Ettore Panetti and Filomena Garcia

2017: The Portuguese post-2008 period: A narrative from an estimated DSGE model

José Maria and Paulo Júlio

2017: Entrepreneurial Risk and Diversification through Trade

Federico Esposito

2017: Banks’ Liquidity Management and Systemic Risk

Ettore Panetti and Luca Deidda

2017: Inefficiency Distribution of the European Banking System

João Gouveia-Oliveira

2017: Boom, Slump, Sudden stops, Recovery, and Policy Options. Portugal and the Euro

Pedro Portugal and Olivier Blanchard

2017: Modelling currency demand in a small open economy within a monetary union

António Rua

2017: Impact of uncertainty measures on the Portuguese economy

Cristina Manteu and Sara Serra

2017: Lending relationships and the real economy: evidence in the context of the euro area sovereign debt crisis

Luciana Barbosa

2017: Who's who in global value chains? A weighted network approach

João Amador, Sonia Cabral and Rossana Mastrandrea

2017: Disentangling the channels from birthdate to educational attainment

Luís Martins and Manuel Pereira

2017: International Banking and Cross-border Effects of Regulation: Lessons from Portugal

Diana Bonfim and Sónia Costa

2017: Labor market imperfections and the firm’s wage setting policy

Pedro Portugal and Sónia Félix

2017: Zooming the Ins and Outs of the U.S. Unemployment

António Rua and Pedro Portugal

2017: Upward Nominal Wage Rigidity

Fernando Martins, Paulo Guimaraes and Pedro Portugal

2017: The Diffusion of Knowledge via Managers' Mobility

Luca David Opromolla and Giordano Mion

2016: Public debt expansions and the dynamics of the household borrowing constraint

António Antunes

2016: Surviving the perfect storm: the role of the lender of last resort

Carla Soares, Diana Bonfim and Nuno Alves

2016: Leverage and Risk Weighted Capital Requirements

Leonardo Gambacorta

2016: The unsecured interbank money market: A description of the Portuguese case

Sofia Saldanha

2016: A tale of two sectors: why is misallocation higher in services than in manufacturing?

Daniel Dias

2016: Forecasting banking crises with dynamic panel probit models

António Antunes, Diana Bonfim, Nuno Monteiro and Paulo Rodrigues

2016: A wavelet-based multivariate multiscale approach for forecasting

António Rua

2016: Temporary contracts' transitions: the role of training and institutions

Sara Serra

2016: EAGLE-FLI - A macroeconomic model of banking and financial interdependence in the euro area

Sandra Gomes and N. Bokan

2016: Market integration and the persistence of electricity prices

António Rua, Paulo Rodrigues and João Pedro Pereira

2016: The Effect of Quantitative Easing on Lending Conditions

Gil Nogueira, Luísa Farinha and Laura Blattner

2016: Sorry, We're Closed: Loan Conditions When Bank Branches Close and Firms Transfer to Another Bank

Diana Bonfim, Gil Nogueira and Steven Ongena

2016: Understanding the public sector pay gap

Maria Campos and Domenico Depalo

2016: Residual-augmented IVX predictive regression

Paulo Rodrigues and Matei Demetrescu

2016: Productivity and Organization in Portuguese Firms

Luca David Opromolla and Lorenzo Caliendo

2016: Output and unemployment, Portugal, 2008–2012

José Maria

2016: Monetary Developments and Expansionary Fiscal Consolidations: Evidence from the EMU

Luís Martins and Antonio Afonso

2016: A Mixed Frequency Approach to Forecast Private Consumption with ATM/POS Data

Cláudia Duarte

2016: Sustentabilidade da dívida pública: Metodologias e discussões nas instituições europeias

Cláudia Braz, João Amador, Lara Wemans, Maria Campos and Sharmin Sazedj