I. Análisis Económico:
- La evolución del PIB de los países de la UE desde 2008: análisis comparativo (Funcas Blog).
- An investigation of the root causes of the Greek crisis: The Greek crisis is typically seen as a sovereign debt crisis. Using a new dataset, this column explores the dynamics of national wealth accumulation in Greece over the past two decades. It argues that, despite certain idiosyncrasies, the Greek crisis can be better characterised as a balance of payments crisis. This implies that Greece shouldn’t be seen as an outlier amongst the periphery Eurozone countries (VOX).
II. Economía del Comportamiento:
- Behavioural economics: What we know and how it could be mainstreamed. Behavioural economics has identified phenomena that standard models could not explain. But its critics warn that it is becoming little more than a ‘pile of quirks’. This column argues that the future development of behavioural economics should focus on a streamlining process that will clarify core issues, fill conceptual gaps, and create tractable models. Behavioural models will only become a coherent alternative to homo economicus if this process occurs (VOX).
- An Estimated Structural Model of Entrepreneurial Behavior: Using a rich panel of owner-operated New York dairy farms, we provide new evidence on entrepreneurial behavior. We formulate a dynamic model of farms facing uninsured risks and financial constraints. Farmers derive nonpecuniary benefits from operating their businesses. We estimate the model via simulated minimum distance, matching both production and financial data. We find that financial factors and nonpecuniary benefits are of first-order importance. Collateral constraints and liquidity restrictions inhibit borrowing and the accumulation of capital. The nonpecuniary benefits to farming are large and keep small, low-productivity farms in business. Although farmers are risk averse, eliminating uninsured risk has only modest effects on capital and output (Federal Reserve Bank of Richmond).
III. Ciber Riesgos:
- How to Use the World Economic Forum’s Cybersecurity Principles (Risk Management).
- Cyber and the C-Suite: New Cyberrisk Responsibilities for Chief Risk Officers (Risk Management).