Working Papers

From Banco de Portugal, Economics and Research Department
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2012: Bank size and lending specialization

Diana Bonfim and Qinglei Dai

2012: Liquidity risk in banking: is there herding?

Diana Bonfim and Moshe Kim

2012: Competition in the Portuguese Economy: Insights from a profit elasticity approach

Ana Cristina Soares and João Amador

2012: Identifying the determinants of downward wage rigidity: some methodological considerations and new empirical evidence

Fernando Martins and Daniel Dias

2012: On International Policy Coordination and the Correction of Global Imbalances

Cristina Manteu

2012: How to create indices for bank branch financial performance measurement using MCDA techniques: an illustrative example

Paulo Rodrigues and Fernando A. F. Ferreira

2012: Wage rigidity and employment adjustment at the firm level: evidence from survey data

Fernando Martins and Daniel Dias

2012: The Effects of Public Spending Externalities

João Valle e Azevedo and Valerio Ercolani

2012: Market perception of fiscal sustainability: An application to the largest euro area economies

Maximiano Pinheiro

2012: Competition in the Portuguese Economy:An overview of classical indicators

Ana Cristina Soares and João Amador

2012: Quantile regression for long memory testing: A case of realized volatility

Paulo Rodrigues and Uwe Hassler

2012: The dynamics of capital structure decisions

Diana Bonfim and Paula Antão

2012: Cohesion within the euro area and the U. S.: a wavelet-based view

António Rua and Artur Silva Lopes

2012: A wavelet-based assessment of market risk: The emerging markets case

António Rua and Luis Nunes

2012: Asset pricing with a bank risk factor

António Rua and João Pedro Pereira

2012: Public-private wage gaps in the period prior to the adoption of the euro: an application based on longitudinal data

Maria Campos

2012: Inquérito à Situação Financeira das Famílias: metodologia e principais resultados

Luísa Farinha and Sónia Costa

2011: Evaluating retail banking quality service and convenience with MCDA techniques: a case study at the bank branch level

Paulo Rodrigues and Fernando A. F. Ferreira

2011: Direct vs bottom-up approach when forecasting GDP: reconciling literature results with institutional practice

Paulo Esteves

2011: Modeling and Forecasting Interval Time Series with Threshold Models: An Application to S&P500 Index Returns

Paulo Rodrigues and Nazarii Salish

2011: The price elasticity of external demand: how does Portugal compare with other euro area countries?

Cristina Manteu and Sonia Cabral

2011: A Class of Robust Tests in Augmented Predictive Regressions

Paulo Rodrigues and Antonio Rubia

2011: The Tip of the Iceberg: A Quantitative Framework for Estimating Trade Costs

Luca David Opromolla and Alfonso Irarrazabal

2011: The Impact of Persistent Cycles on Zero Frequency Unit Root Tests

Paulo Rodrigues and Tomás del Barrio Castro

2011: Why Ex(Im)porters Pay More: Evidence from Matched Firm-Worker Panels

Luca David Opromolla and Pedro Martins

2011: Money growth and inflation in the euro area: a time-frequency view

António Rua

2011: Housing Market Dynamics: Any News?

Sandra Gomes

2011: International organisations’ vs. private analysts’ forecasts: an evaluation

Ildeberta Abreu

2011: Asset Returns Under Model Uncertainty: Evidence from the euro area, the U.K. and the U.S

Ricardo Sousa

2011: Money is an experience good: competition and trust in the private provision of money

Pedro Teles and Ramon Marimon

2011: Banks’ corporate control and relationship lending: evidence from retail loans

Paula Antão and Miguel Ferreira

2011: Moment conditions model averaging with an application to a forward-looking monetary policy reaction function

Luis Martins

2011: Rational vs. Professional Forecasts

João Valle e Azevedo and Joao Jalles

2011: Structural reforms and macroeconomic performance in the euro area countries: a model-based assessment

Sandra Gomes and Pascal Jacquinot

2011: Determinants of the EONIA spread and the financial crisis

Carla Soares and Paulo Rodrigues

2011: Assessing monetary policy in the euro area: a factor-augmented VAR approach

Rita Soares

2011: Energy content in manufacturing exports: a cross-country analysis

João Amador

2011: Price and wage setting in Portugal learning by asking

Fernando Martins

2011: Leaning Against Boom-Bust Cycles in Credit and Housing Prices

Luisa Lambertini

2011: Why Are Some Prices Stickier Than Others? Firm-Data Evidence on Price Adjustment Lags

Fernando Martins and Daniel Dias

2011: Choosing Between Time and State Dependence: Micro Evidence on Firms' Price-Reviewing Strategies

Fernando Martins and Daniel Dias

2011: Fiscal Consolidation in a Small Euro Area Economy

Gabriela Castro, José Maria and Vanda Almeida

2011: Managers’ Mobility, Trade Status, and Wages

Luca David Opromolla and Giordano Mion

2011: Unconventional Fiscal Policy at the Zero Bound

Pedro Teles and Emmanuel Farhi

2011: Is the World Spinning Faster? Assessing the Dynamics of Export Specialization

João Amador

2011: What Happens After Default? Stylized Facts on Access to Credit

Diana Bonfim and Daniel Dias

2010: Joblessness

Pedro Portugal and José António Machado

2010: Evaluating the strength of identification in DSGE models. An a priori approach

Nikolay Iskrev

2010: Employment and wages of immigrants in Portugal

Cláudia Duarte and Sonia Cabral

2010: Testing for Persistence Change in Fractionally Integrated Models: An Application to World Inflation Rates

Paulo Rodrigues and Luis Martins

2010: The Hidden Side of Temporary Employment: Fixed-term Contracts as a Screening Device

Pedro Portugal and Jose Varejao

2010: The Instability of Joint Ventures: Learning from Others or Learning to Work with Others

Pedro Portugal and José Mata

2010: Borrowing Patterns, Bankruptcy and Voluntary Liquidation

António Antunes, Pedro Portugal and José Mata

2010: The Reservation Wage Unemployment Duration Nexus

Pedro Portugal and John Addison

2010: The Sources of Wage Variation: An Analysis Using Matched Employer-Employee Data

Paulo Guimaraes, Pedro Portugal and Sónia Torres

2010: Forecasting Inflation (and the Business Cycle?) with Monetary Aggregates

João Valle e Azevedo

2010: Fiscal stimulus and exit strategies in a small euro area economy

Gabriela Castro and José Maria

2010: Determinants of the sovereign bond yield spreads in the Euro Area in the context of the economic and financial crisis

Luciana Barbosa and Sónia Costa

2010: Time-varying fiscal policy in the U.S

Manuel Pereira and Artur Silva Lopes

2010: Labor Immobility and the Transmission Mechanism of Monetary Policy in a Monetary Union

Bernardino Adao

2010: Global policy at the Zero Lower Bound in a large-scale DSGE model

Sandra Gomes and Pascal Jacquinot

2010: Fiscal Stimulus in a Small Euro Area Economy

Gabriela Castro and José Maria

2010: Short and Long Interest Rate Targets

Bernardino Adao and Pedro Teles

2010: Monetary Policy Effects: Evidence from the Portuguese Flow of Funds

Isabel Gameiro

2010: Marginal Distributions of Random Vectors Generated by Affine Transformations of Independent Two-Piece Normal Variables

Maximiano Pinheiro

2010: Calendar Effects in Daily ATM Withdrawals

Paulo Esteves and Paulo Rodrigues

2010: The Effects of Additive Outliers and Measurement Errors when Testing for Structural Breaks in Variance

Paulo Rodrigues and Antonio Rubia

2010: A Multiple Criteria Framework to Evaluate Bank Branch Potential Attractiveness

Paulo Rodrigues and Fernando A. F. Ferreira

2010: Tracking the US Business Cycle With a Singular Spectrum Analysis

António Rua and Miguel de Carvalho

2010: Extremal Dependence in International Output Growth: Tales from the Tails

António Rua and Miguel de Carvalho

2010: A Wavelet Approach for Factor-Augmented Forecasting

António Rua

2010: The EAGLE. A model for policy analysis of macroeconomic interdependence in the euro area

Sandra Gomes and Pascal Jacquinot

2010: Counterfactual Analysis of Bank Mergers

Diana Bonfim and Pedro Barros

2010: Expectations-Driven Cycles in the Housing Market

Luisa Lambertini

2010: Nonstationary Extremes and the US Business Cycle

António Rua and Miguel de Carvalho

2010: Exports, Imports and Wages:Evidence from Matched Firm-Worker-Product Panels

Luca David Opromolla and Pedro Martins

2010: Measuring comovement in the time-frequency space

António Rua

2010: Financial Stability and Policy Cooperation

Vítor Gaspar