According to recent studies, shocks on aggregated variables are associated with unequal impacts on the economic system, affecting more some agents and sectors than others according, depending on their characteristics. Theoretically, the mechanisms that differentiate shocks’ effects on economic...

One of the main socioeconomic problems observed in most countries – particularly in less developed countries – is the presence of high income inequality and poverty level. Several empirical works have attempted to analyze their major determinants as well as their effect on some indicators...

This paper examines the role played by the decline in average annual hours of work per person in employment over the behavior of unemployment rate in Europe since II World War. The results show that, during the Golden Age of Capitalism in the twentieth century, the pronounced reduction in the...