Outputs (10)

Capital-skill complementarity and biased technical change across US sectors (2020)
Journal Article
Perez-Laborda, A., & Perez-Sebastian, F. (2020). Capital-skill complementarity and biased technical change across US sectors. Journal of Macroeconomics, 66, Article 103255. https://doi.org/10.1016/j.jmacro.2020.103255

The goal of this paper is two-fold. First, we reexamine the evidence for the capital-skill complementarity (CSC) and the skill-biased technological change (SBTC) hypotheses at the sectoral level in the US economy for the period 1970-2005. Second, we... Read More about Capital-skill complementarity and biased technical change across US sectors.

What drives vertical fiscal interactions? Evidence from the 1980 Crude Oil Windfall Act (2018)
Journal Article
Perez-Sebastian, F., & Raveh, O. (2018). What drives vertical fiscal interactions? Evidence from the 1980 Crude Oil Windfall Act. Regional Science and Urban Economics, 73, 251-268. https://doi.org/10.1016/j.regsciurbeco.2018.10.004

In economies with multi-level governments, why would a change in the fiscal rule of a government in one level lead to a fiscal response by a government in a different level? The literature focused primarily on the standard common-pool problem, while... Read More about What drives vertical fiscal interactions? Evidence from the 1980 Crude Oil Windfall Act.

Natural resources, decentralization, and risk sharing: can resource booms unify nations? (2016)
Journal Article
Pérez-Sebastián, F., & Raveh, O. (2016). Natural resources, decentralization, and risk sharing: can resource booms unify nations?. Journal of Development Economics, 121, 38-55. https://doi.org/10.1016/j.jdeveco.2016.02.003

Previous studies imply that a positive regional fiscal shock, such as a resource boom, strengthens the desire for separation. In this paper we present a new and opposite perspective. We construct a model of endogenous fiscal decentralization that bui... Read More about Natural resources, decentralization, and risk sharing: can resource booms unify nations?.

The natural resource curse and fiscal decentralization (2015)
Journal Article
Pérez-Sebastián, F., & Raveh, O. (2016). The natural resource curse and fiscal decentralization. American journal of agricultural economics, 98(1), 212-230. https://doi.org/10.1093/ajae/aav051

© 2015 The Author. Natural resource abundance is a blessing for some countries, but a curse for others. We show that differences across countries in the degree of fiscal decentralization can contribute to this divergent outcome. Using a large panel o... Read More about The natural resource curse and fiscal decentralization.

Neoclassical growth and the natural resource curse puzzle (2015)
Journal Article
Guilló, M. D., & Pérez-Sebastián, F. (2015). Neoclassical growth and the natural resource curse puzzle. Journal of international economics, 97(2), 423-435. https://doi.org/10.1016/j.jinteco.2015.06.002

We advance a novel mechanism that helps to explain the puzzling evidence on the natural resource curse. The new channel arises in a standard dynamic Heckscher-Ohlin model composed of small-open economies that take international output prices as given... Read More about Neoclassical growth and the natural resource curse puzzle.

Market failure, government inefficiency, and optimal R&D policy (2015)
Journal Article
Perez-Sebastian, F. (2015). Market failure, government inefficiency, and optimal R&D policy. Economics letters, 128, 43-47. https://doi.org/10.1016/j.econlet.2015.01.012

This paper presents a growth model that can explain the coexistence of intellectual property rights and R&D subsidies as a response to the presence of both market and government failures. The framework can also generate the observed positive correlat... Read More about Market failure, government inefficiency, and optimal R&D policy.

Health cycles and health transitions (2014)
Presentation / Conference Contribution
Chakraborty, S., Papageorgiou, C., & Perez Sebastian, F. Health cycles and health transitions

We study the dynamics of poverty and health in a model of endogenous growth and rational health behavior. Population health depends on the prevalence of infectious diseases that can be avoided through costly prevention. The incentive to do so comes f... Read More about Health cycles and health transitions.

A unified theory of structural change (2011)
Journal Article
Dolores Guilló, M., Papageorgiou, C., & Pérez-Sebastián, F. (2011). A unified theory of structural change. Journal of Economic Dynamics and Control, 35(9), 1393-1404. https://doi.org/10.1016/j.jedc.2011.05.004

This paper uses dynamic general equilibrium and computational methods, inspired by the multi-sector growth model structure in Stephen Turnovsky's work, to develop a theory that unifies two of the traditional explanations of structural change: sector-... Read More about A unified theory of structural change.

Diseases, infection dynamics, and development (2010)
Journal Article
Chakraborty, S., Papageorgiou, C., & Pérez Sebastián, F. (2010). Diseases, infection dynamics, and development. Journal of Monetary Economics, 57(7), 859-872. https://doi.org/10.1016/j.jmoneco.2010.08.004

The relationship between health and development is a subject of ongoing debate. This paper contributes to the debate by proposing a general equilibrium theory of infectious disease transmission, prevention investment, and rational behavior. Diseases... Read More about Diseases, infection dynamics, and development.

Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms (2008)
Journal Article
Gurmu, S., & Pérez-Sebastián, F. (2008). Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms. Empirical economics, 35(3), 507-526. https://doi.org/10.1007/s00181-007-0176-8

This paper investigates the relationship between patents and research and development expenditures using new longitudinal patent data at the firm level for the U.S. manufacturing sector from 1982 to 1992. The paper also develops a new class of count... Read More about Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms.