urria 2015 -en artxiboa

Starbucks, ¿héroe o villano?

urria 27, 2015

Hoy el post es mío en Ekonomiaren Plaza (Diario Vasco): http://blogs.diariovasco.com/ekonomiaren-plaza/2015/10/27/starbucks/

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Amazon, ¿héroe o villano?

urria 6, 2015

Hoy el post es mío en Ekonomiaren Plaza (Diario Vasco): http://blogs.diariovasco.com/ekonomiaren-plaza/2015/10/06/amazon/

“Savings, the size of the net foreign asset position, and the dynamics of current account”

urria 2, 2015

This is a new paper just published at the International Review of Economics and Finance. “In this paper, we show that the impact of a transitory income shock on the current account is equal to a combination of the traditional rule (i.e., the amount of savings) and the new view (i.e., the marginal unit of capital is equal to the average unit of capital), or a combination of the traditional rule and the new rule (i.e., the amount of savings multiplied by the net foreign asset position over domestic wealth) when growth rates are similar. The empirical evidence suggests that the support for the traditional rule and the new view or the new rule depends crucially on the size of the net foreign asset position of the country. For “moderate” net foreign asset positions the new view or the new rule dominate. However, for “large” creditor or debtor countries the traditional rule dominates, but the reaction is weaker for debtor countries.” You can find it at http://authors.elsevier.com/a/1ReYo3mpInaaO6 (ungated version till October 23, 2015).

“A note on the new rule for the current account”

urria 2, 2015

This is a new paper published at the Review of International Economics. It is a technical paper. “In this note, we show that the two main concerns against the new rule for the current account are flawed. The new rule states that the impact of a transitory income shock on the current account is given by the savings generated by the shock multiplied by the ratio of the net foreign asset position to domestic wealth. First, we adapt the new rule to distinguish between gross and net foreign asset positions. Second, we demonstrate that the results for the new rule are driven neither by an accounting-based “approximate” regression nor a steady state.” You can find it at http://onlinelibrary.wiley.com/doi/10.1111/roie.12184/abstract