Research

Work in progress:

"Management Practices and Firm Performance during the Great Recession: Evidence from Spanish Survey Data", (with Florian Englmaier, Ricard Gil, Michael Kaiser and Helene Strandt). Work in progress.

"Financial frictions, idiosyncratic demand shocks, business formation and aggregate fluctuations", (with Miguel Casares and Luca Deidda). Work in progress.

"The relationship between redistribution policies and growth: the missing piece", (with Luis Carranza and Julian Diaz-Saavedra). Work in progress.

"Optimal Taxation in an Economy with Externalities", (with Luis Carranza and Julian Diaz-Saavedra). Work in progress.

"Real Exchange Rate Dynamics and Financial Fragility: A General Equilibrium Approach", (with Luis Carranza). Work in progress.

"Financial Development and the Assymmetry of Monetary Policy", (with Luis Carranza and Javier Gomez-Biscarri). Manuscript.

“Are Suggestions Really Welcome? Human Resource Investment on Attention Technologies”, (with Ricard Gil). Manuscript.

Selected publications:

"The Value of Information in Competitive Markets: Evidence from Small and Medium Enterprises", (with Ricard Gil and Guillermo Uriz-Huarte). Journal of Political Economy, 2025, vol. 133(1), pp. 252-305.

"Social Benefits and Private Costs of Driving Restriction Policies: The Impact of Madrid Central on Congestion, Pollution and Consumer Spending", (with Ricard Gil, Felix Holub and Guillermo Uriz-Uharte). Journal of the European Economic Association, 2023, vol. 21(3), pp. 1227-1267.

"Exchange Rate and Inflation Dynamics in Dollarized Economies", (with Luis Carranza and Javier Gomez-Biscarri). Journal of Development Economics, 2009, vol. 89(1), pp. 98-108.

"Financial Intermediation, Variability and the Development Process" (with Luis Carranza), Journal of Development Economics, 2004, vol. 73 (1), pp. 27-54.

"Competitive Pressure and Labor Productivity: World Iron-Ore Markets in the 1980's" (with James Schmitz), American Economic Review, 2002, vol. 92 (4), pp. 1222-1235. Reprinted in Federal Reserve Bank of Minneapolis Quarterly Review, Spring 2003, vol. 27 (2), pp. 9-23.

Other publications in refereed journals:

“Does Team Production Rely on More or Fewer Employee Selection Procedures?”, (with Alberto Bayo-Moriones and Sara Martinez-de-Morentin). Forthcoming British Journal of Industrial Relations. 

“On Financial Frictions and Firm's Market Power”, (with Miguel Casares and Luca Deidda). Economic Inquiry, 2023, vol. 61(4), pp. 982-1005.

“Rethinking Fiscal Rules”, (with Luis Carranza and Julian Diaz-Saavedra). Journal of Comparative Economics, 2023, vol. 51(3), pp. 833-857.

“Business Strategy, Performance Appraisal and Firm Performance”, (with Alberto Bayo-Moriones and Sara Martinez-de-Morentin). Personnel Review, 2021, vol. 50(2), pp. 515-534.

"Performance Appraisal: Dimensions and Determinants", (with Alberto Bayo-Moriones and Sara Martinez-de-Morentin). The International Journal of Human Resource Management, 2020, vol. 31(15), pp. 1984-2015.

"Loan Production and Monetary Policy", (with Miguel Casares and Luca Deidda). Macroeconomic Dynamics, 2019, vol. 23(1), pp. 101-143.

"Performance Measurement and Incentive Intensitiy", (with Alberto Bayo-Moriones and Sara Martinez-de-Morentin). Journal of Labor Research, 2017, vol. 38, pp. 496–546.

"The Process of Wage Adjustment: An Analysis Using Establishment-Level Data", (with Alberto Bayo-Moriones and Sara Martinez-de-Morentin). Economic and Industrial Democracy, 2016, vol. 37(2), pp. 245-268.

"Outsourcing of Peripheral Services: Evidence from Spanish Manufacturing Plant-Level Data", (with Ricard Gil and Alberto Bayo-Moriones). European Economic Review, 2015, vol. 78, pp. 328-344.

"The Determinants of Pay Settlements. The Influence of the National Context", (with Alberto Bayo-Moriones and Sara Martinez-de-Morentin). The International Journal of Human Resource Management, 2013, vol. 24 (3), pp. 579-600

"The Diffusion of Pay for Performance across Occupations", (with Alberto Bayo-Moriones and Sara Martinez-de-Morentin). Industrial & Labor Relations Review, 2013, vol. 66(5), pp. 1115-1148.

"The Relationship between Investment and Large Exchange Rate Depreciations in Dollarized Economies", (with Luis Carranza and Javier Gomez-Biscarri). Journal of International Money and Finance, 2011, vol. 30 (7), pp. 1265-1279.

"Understanding the Relationship between Financial Development and Monetary Policy", (with Luis Carranza and Javier Gomez-Biscarri). Review of International Economics, 2010, vol. 18(5), pp. 849-864.

"Is Seniority-Based Pay Used as a Motivation Device? Evidence from Plant-Level Data", (with Alberto Bayo-Moriones and Maia Güell). Research in Labor Economics, 2010, vol. 30, pp. 155-187. Emerald Group Publishing, Bingley, UK.

"Multinational Companies and High Performance Human Resource Management Practices" (with Alberto Bayo-Moriones). The International Journal of Human Resource Management, 2010, vol. 21(8), pp. 1246-1269.

"Collective Bargaining under Perfect Information. The Negotiation of National Agreements", (with Carlos Diaz-Moreno). Spanish Economic Review,  2005, vol. 7(2), pp.  139-155 (pdf file).

"Collective Bargaining under Complete Information" (with Carlos Díaz-Moreno), in: Salomon W. Polachek (Ed.), Accounting for Worker Well-Being, Research in Labor Economics, 2004, vol. 23, pp. 359-379. Elsevier Science/JAI Press, Greenwich, Conn.

"Exchange Rate Volatility and Economic Performance in Peru: A Firm Level Analysis" (with Luis Carranza and Juan M. Cayo), Emerging Markets Review, 2003, vol. 4 (4), pp. 472-496.

"Dismissal Conflicts and Unemployment" (with Maia Güell), European Economic Review, 2003, vol. 47 (2), pp. 127-139.

"Explaining Cross-country Differences in Participation Rates and Aggregate Fluctuations" (with Juan Carlos Conesa and Carlos Díaz-Moreno), Journal of Economic Dynamics and Control, 2002, vol. 26 (2), pp. 333-345.

"Employment Protection Legislation and the IT-sector in OECD Countries", Louvain Economic Review (Recherches Economiques de Louvain), 2002, vol. 68 (1-2), pp. 169-184. Special Issue: “The New Economy: Implications and Viability”, R. Boucekkine and E. Wasmer Eds. (pdf file).

"Underground Economy and Aggregate Fluctuations" (with Juan Carlos Conesa and Carlos Díaz-Moreno), Spanish Economic Review, 2001, vol. 3(1), pp. 41-53 (pdf file).

"Job Creation, Job Destruction and the Dynamics of Spanish Firms" (with Carlos Díaz-Moreno), Investigaciones Económicas, 2000, vol. 24(3), pp. 545-561 (pdf file).

"How Important is Firm Behavior to Understand Employment? Evidence from Spain" (with Carlos Díaz Moreno), Investigaciones Económicas, 1999, vol. 23(2), pp. 203-224 (pdf file).