This paper assess the sources of technological progress that determined GDP and labor productivity growth across a group of leading Pacific economies - Australia, Japan, South Korea, and the U.S. - during the period 1980-2006. We consider three alternative sources of technological progress:...

We apply the business cycle methodology proposed by Chari, Kehoe, and McGrattan (2007) to identify the sources of Spanish business fluctuations during two outstanding cyclical episodes: the recession alongside the inception of democracy on 1977, and the recession of 2008. We find that the labor...

This paper uses a combination of structural vector autoregression and bootstrapping techniques to analyze whether the exchange rates of three new EU member statesâCzech Republic, Hungary, and Polandâhave been used as output stabilizers during the period 1995-2005. The question provides a prior...

Unemployment rates in developed countries have recently reached levels not seen in a generation, and workers of all ages are facing increasing probabilities of losing their jobs and considerable losses in accumulated assets. These events have increased the reliance that most (older) workers have...

This paper provides an approach to poverty measurement that relies on the interpretation of poverty as a welfare loss. Our contribution is twofold. On the one hand, we analyse the relationship between individual and aggregate indicators, by introducing the notion of “distributive impact of...

In a recent article, Fragnelli and Gagliardo [Cooperative models for allocating an object, Economics Letters 117 (2012) 227-229] propose several procedures to solve a basic problem of fair allocation. We scrutinize their proposal and contextualize it into recent developments of the literature on...

We apply the business cycle methodology proposed by Chari, Kehoe, and McGrattan (2007) to identify the sources of Spanish business fluctuations during two outstanding cyclical episodes: the recession alongside the transition to democracy in 1977 and the great recession of 2008. We find that the...

We explore in this paper the axiomatic approach to the problem of sharing the revenue from bundled pricing. We formalize two models for this problem on the grounds of two different informational bases. In both models, we provide axiomatic rationale for natural rules to solve the problem. We,...

Reliable empirical evidence about the effects of unemployment insurance benefits (UIB) on individuals’ labour market paths is crucial for designing appropriate labour market policies. In particular, medium and long-run effects of the UIB system can differ markedly from short-term impact when...

In this paper, we explore the links between pension reform, early retirement, and the use of unemployment as an alternative pathway to retirement. We use a dynamic rational expectations model to analyze the search and retirement behaviour of employed and unemployed workers aged 50 or over. The...