In this paper we provide a general equilibrium model that helps explaining payment choice at the retail level: cash, electronic and paper-based instruments. In particular, it provides theoretical foundations to reconcile previous empirical evidence on this issue. The payment pattern of a given...

The objective of this study is to analyze the macroeconomic performance of 16 Ibero- American countries over the period 1980- 199 1. Macroeconomic performance is defined as the ability of a country's macroeconomic managers to provide four welfare-enhancing economic services to their citizens: a...

This paper analyses the importance of different technological inputs (R&D and human capital) and different spillovers in explaining the differences in patenting among Spanish regions in the period 1986-2003. The analysis is based on the estimation of a knowledge production function. A region¿s...

This paper analizes the effect of education on job productivity, via improvements in workers humaii capital. Together with conventional measures of human capital such as the average years of school attainment, some alternative measures which take into account the distribution by levels of...

According to neoclassical models, economies converge to their steady-states. In this paper we confirm that both significant differences among Spanish regions¿ steady-states and fastconvergence to them exist. We analyse their time stability over the period 1964-93 and their possible...

A model of optimal economic growth with a constant population subject to a constraint on the availability of land is presented. It takes account of the dual character of land as a production factor and as a consumption good (environmental amenities) by determining the optimal intertemporal...

This paper analyzes Spanish economic growth and the effect of interaction between human capital accumulation and sectoral structure. Data show significant differences in sectoral human capital stocks per worker for the period 1965-95. When tested, the effect of human capital, both as an input...

This paper contains an analysis of the economic effects of human capital onproduction, measured as Gross Value Added per full-time equivalent worker. To thisend, a Cobb-Douglas type production function has been used, with Gross Value Added(GVA) a function of human capital and private and public...

Suppose that a group of individuals owns collectively a technology which produces a consumptiongood by means of a (possibly heterogeneous) input. A sharing rule associates input contributionswith a vector of consumptions that are technologically feasible. We show that the set of...

We characterize the incentive compatible allocation that maximizes the expected social surplus in a single-unit sale when the efficient allocation is not implementable. This allocation may involve no selling when it is efficient to sell. We then show that the English auction always implements...