People often process numbers in simplified ways. One such simplification is left-digit bias, the tendency to give more weight to the leftmost digit of a number. We study whether this bias affects how households process inflation numbers when forming …
Pronounced and persistent fluctuations in aggregate wealth and real activity - boom-bust episodes - have become more prevalent in recent history. In this paper, I provide a quantitative explanation for such boom-bust episodes based on rational …
This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous regions, two fiscal regimes differing in taxing autonomy, and two path-dependent types of communities with more and less …