We analyze the differential impact of the COVID-19 crisis on the Spanish labor market across population groups, as well as its implications for income inequality. The main finding is that young, less educated, and low skilled workers, as well as women are the most affected by the COVID-19 shock...

This study compares the estimation errors of several present value discounting conventions (end-of-year, mid-year, and the more recently proposed harmonic mean convention) for a uniform distribution of intra-period cash flow - continuous and discrete. Our results show that the mid-year...

Since the 1980s, the share of wages in national income declined almost all over the world. This paper provides an overview of the evolution of labour's share in selected OECD countries. Several theoretical approaches explaining functional income distribution are summarised. In light of the...

This paper proposes a methodology to incorporate bivariate models in numerical computations of counterfactual distributions. The proposal is to extend the works of Machado and Mata (2005) and Melly (2005) using the grid method to generate pairs of random variables. This contribution allows...

Leaving labour markets to the market mechanism with flexible wages is the worst thing that can happen as the result would be a permanent destabilisation of the price level and an explosion of inequality—both of which adds to the instabilities of capitalism. Guarantee of minimum wages can play...