This article considers the emergence and evolution of punitive and compensatory remedies in ancient law. I describe how ancient practices of retaliation gradually evolved, through four general phases, into rules requiring victim's compensation. I suggest that the Biblical lex talionis ('eye for...

A common finding in empirical studies using micro data on consumer and producer prices is that hazard functions for price changes are decreasing. This means that a firm will have a lower probability of changing its price the longer it has kept it unchanged. This result is at odds with standard...

According to the 2001 Spanish budgetary previsions, the government deficit is about to disappear. We analyse this matter within a generational accounting framework. Accounting for the recent expansive phase of the economic cycle, we find that current fiscal policy is also intertemporally...