This paper theoretically defines and empirically tests left-digit bias in household inflation expectations. Using cross-country data and a regression discontinuity design, we find that inflation expectations jump discontinuously when inflation …
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 …