With European Monetary Union (EMU), there was an increase in the adjusted spreads (corrected from the foreign exchange risk) of euro participating countries sovereign securities over Germany and a decrease in those of non-euro countries. The objective of this paper is to study the reasons for...

This article reviews previous research regarding cost stickiness and performs an empirical analysis applied to a sample of farms. It recognizes that modelization of cost stickiness is a particular case of representation of cost variations as a function of output variations. It also discusses...

In the context of cooperative TU-games, and given an order of players, we consider the problem of distributing the worth of the grand coalition as a sequential decision problem. In each step of the process, upper and lower bounds for the payoff of the players are required related to successive...

Following the Optimum Currency Areas approach, asymmetric shocks play a fundamental role to determine the benefits and the costs derived from the establishment of a monetary area. In this sense, some recent studies show that an important reduction in the level of the asymmetries of the shocks in...

One of the more important statistical tools for the monitoring and analysis of the economic activity evolution in the short term is the availability of estimations of the quarterly GDP components, whether the supply side or whether the demand side. The need for having this information with a...

In A Tract on Monetary Reform John Maynard Keynes proposed to use the monetary base and the reserve-deposit ratio as main instruments of a monetary policy considered until then as no required. Beyond the concept of cycle credit developed in this book we find the first steps leading towards the...

In this paper we examine whether access to markets had a significant influence on migration choices of Spanish internal migrants in the inter-war years. We perform a structural contrast of a New Economic Geography model that focus on the forward linkage that links workers location choice with...

This article designs what it calls a Credit-Risk Balance Sheet (the risk being that of default by customers), a tool which, in principle, can contribute to revealing, controlling and managing the bad debt risk arising from a companys commercial credit, whose amount can represent a significant...

This article offers a new historical dataset of industrial GVA for Spanish provinces (NUTSIII) and autonomous regions (NUTS II). For doing that, a new methodology is proposed in order to estimate historical figures of regional GVA. Traditional estimates of regional industrial output in Spain...

The index of maximum and minimum level is a very useful technique, especially for decision making, which uses the Hamming distance and the adequacy coefficient in the same problem. In this paper, we suggest a generalization by using generalized and quasi-arithmetic means. As a result, we will...