Papers by Javier Ferri Carreres
Estadística española, 2003
(*) Los autores agradecen la financiación del IVIE. Ezequiel Uriel agradece la financia-ción reci... more (*) Los autores agradecen la financiación del IVIE. Ezequiel Uriel agradece la financia-ción recibida del Ministerio de Ciencia y Tecnología y de la Generalitat Valenciana a través de los proyectos SEC2002-03375 y CTIDIB/2002/209 respectivamente. Javier Ferri agradece la ...
RePEc: Research Papers in Economics, Nov 1, 2005
Analisis Y Tendencias Del Turismo 2004 Isbn 84 368 1913 6 Pags 211 254, 2004
Journal of Economic Dynamics and Control, 2013
Estadística Española, 2003
(*) Los autores agradecen la financiación del IVIE. Ezequiel Uriel agradece la financia-ción reci... more (*) Los autores agradecen la financiación del IVIE. Ezequiel Uriel agradece la financia-ción recibida del Ministerio de Ciencia y Tecnología y de la Generalitat Valenciana a través de los proyectos SEC2002-03375 y CTIDIB/2002/209 respectivamente. Javier Ferri agradece la ...
Papeles de Economía Española, 2020
The relative scarcity of female students enrolling in economics has become entrenched over the la... more The relative scarcity of female students enrolling in economics has become entrenched over the last decade. We provide evidence of gender differences in performance and in preferences across subfields of the discipline and explore students’ beliefs about the profession and their opinions on different subjects. The areas where women stand out relative to men are those that seem to be least well known to our students. We work on three fronts. First, using web scraping and machine learning techniques, we document the relative presence of women across subfields in recent AEA annual meetings. Macroeconomics and finance register the greatest scarcity of women. Second, using administrative records for economics students in a large public university in Spain from 2010 to 2014, we find that women outperform men in microeconomics, while men outperform women in macroeconomics, more evidently in the upper tail of the grades distribution. Finally, data gathered through a self-statement survey gi...
espanolEste trabajo evalua la importancia de los canales a traves de los cuales las perturbacione... more espanolEste trabajo evalua la importancia de los canales a traves de los cuales las perturbaciones financieras han afectado al producto interior bruto (PIB) en la economia espanola durante la crisis iniciada en 2007 y la posterior recuperacion a partir de finales de 2013, asi como la escasa capacidad de las politicas fiscales expansivas de contrarrestar el impacto negativo de las tensiones finan - cieras. Los resultados muestran la relevancia cuantitativa de estos canales en la descomposicion del crecimiento del PIB per capita, la correlacion con el ciclo economico de las ratios de endeudamiento del sector privado, del apalancamiento bancario, de las primas de riesgo o de la confianza de los agentes, y la amplificacion del ciclo que ello genera. En este contexto, junto con las reformas estructurales implementadas, la actuacion del Banco Central Europeo (BCE) a partir de 2012 resulto decisiva para reducir las tensiones financieras y facilitar la recuperacion iniciada a finales de 201...
Revista De Economia Aplicada, 2017
In this article, we construct a homogeneous series of vacancies for the Spanish economy from 1980... more In this article, we construct a homogeneous series of vacancies for the Spanish economy from 1980 to 2016, which enables us to perform an analysis of the effects of the economic cycle on the relationship between unemployment and vacancies. The methodology proposes a link between the old series of vacancies from the former INEM (National Employment Institute) and the new series from Eurostat. To that end, we use the information from the Short-Term Labour Survey. An analysis of this new homogeneous series shows that the Beveridge curve shifted between 2008 and 2009 due to the worse efficiency of the process of matching vacancies and unemployed workers. A simulation of the macroeconomic effects of this fall in efficiency in a general equilibrium model for Spain generates movements in GDP and employment in the same direction as those actually observed in the crisis, albeit of lesser magnitude. The evidence offered shows that since 2014, the Beveridge curve has gradually been recoveringi...
This paper develops a model with heterogeneous households in terms of net worth and collaterizabl... more This paper develops a model with heterogeneous households in terms of net worth and collaterizable assets. Using sample weights estimated from the PSID, we show that balancesheet heterogeneity is key to characterizing the aggregate effects of government spending along different dimensions. We find that: (i) the response of individual consumption to a government spending shock is negatively correlated with household’s net worth and also depends on her access to mortgage and non-mortgage credit, which implies that the size of the fiscal multiplier is sensitive to the distribution of household types; (ii) the response of aggregate employment is negatively correlated with the share of impatient households; as the weight of these households in total population increases firms rely more on adjustments in the intensive margin to meet the fiscal induced boost in aggregate demand, thus generating jobless recoveries; (iii) the output multiplier is positively correlated with wealth inequality;...
Integracion Economica En Europa Aspectos Macroeconomicos Y Regionales 2007 Isbn 978 84 8008 239 6 Pags 109 130, 2007
Oxford Economic Papers, 2016
In this paper, we look at the interplay between the level of household leverage in the economy an... more In this paper, we look at the interplay between the level of household leverage in the economy and fiscal policy, the latter characterised by different combinations of instruments and rules. When the fiscal rule is defined on lump-sum transfers, government spending or consumption taxes, the impact multipliers of transitory fiscal shocks become substantially amplified in an environment of easy access to credit by impatient consumers, regardless of the primary instruments used. However, when the government reacts to debt deviations by raising distortionary taxes on income, labour or capital, the effects of household debt on the size of the impact output multipliers vanish or even reverse, no matter the primary fiscal instrument used. We also find that differences in multipliers between high and low indebtedness regimes belong basically to the short run, whereas the long-run multipliers associated with fiscal shocks are barely affected by the level of household debt in the economy. Finally, we find that fiscal shocks exert an unequal welfare effect on impatient and patient households that can even be of opposite signs. This points to non-negligible distributional impacts of alternative fiscal strategies, especially in economies with highly indebted households.
Economica, 2015
We study the size of government spending multipliers in a general equilibrium model with search a... more We study the size of government spending multipliers in a general equilibrium model with search and matching frictions in which we allow for different levels of household indebtedness. The main results of the paper are: (a) the presence of impatient households and private debt helps generate government spending multipliers greater than 1; (b) as financial conditions worsen and impatient consumers find it more difficult to borrow (i.e. in a credit crunch), the size of the government spending multiplier falls; (c) conversely, employment, vacancies and unemployment multipliers are larger when access to credit becomes more difficult; and (d) the model explains the observed pattern of responses of labour market variables, housing prices and private debt to a fiscal shock reasonably well. On these grounds it outperforms the standard model with Rule-of-Thumb consumers whose predictions for the labour market are at odds with the data.
Este trabajo explora los efectos económicos de la inmigración internacional en España a través de... more Este trabajo explora los efectos económicos de la inmigración internacional en España a través de la construcción de un modelo de equilibrio general computable. Uno de los aspectos en los que se centra el trabajo es la influencia que tiene el grado de movilidad intersectorial de los trabajadores extranjeros, planteando dos escenarios alternativos: uno de perfecta movilidad y otro en el cual únicamente pueden trabajar en tres sectores concretos. Otra cuestión que se toma en cuenta a la hora de plantear las simulaciones es el grado de discriminación salarial de los inmigrantes frente a los trabajadores nativos. Los resultados sugieren que la selección de sectores estratégicos para recibir a los inmigrantes es un factor que mejoraría los efectos económicos de la inmigración. El régimen salarial es también un parámetro importante para explicar el impacto en el corto y en el largo plazo.
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Papers by Javier Ferri Carreres