La pendiente de la curva de Phillips se ha reducido en las últimas décadas. En este documento se desarrolla un modelo que racionaliza este fenómeno a partir del aumento del grado de polarización observado en muchas industrias, que ha supuesto que un reducido número de grandes empresas de...

Summary of Banco de España Working Paper no. 2106

This study compares the procurement cost-minimizing and productive efficiency performance of the auction mechanism used by independent system operators (ISOs) in wholesale electricity auction markets in the U.S. with that of a proposed alternative. The current practice allocates energy contracts...

Replaced with revised version of paper 08/06/10.

This dissertation studies the roles of comparative advantage, monopolistic competition, and firm-level heterogeneity in international trade.The first essay investigates cross-country and cross-industry variation in the fractions of exporters among domestic firms. The paper presents a model of an...

This covers the market structure of Monopolistic Competition. It presents the characteristics of this market structure by contrasting them to those of Perfect Competition and Monopoly. It explains why these characterisics are important and explains that these have implications for the revenue...

Consumers voluntarily pay significant price premiums to acquire unobservable environmental attributes in green markets. This paper considers the performance of eco-certification policy under circumstances where consumers cannot discern environmental attributes in goods, but are able to form...

Estudiamos la política monetaria óptima desde una perspectiva atemporal en un modelo general de fijación de precios dependiente del estado (state-dependent pricing). Las empresas tienen poder monopolístico y están sujetas a perturbaciones idiosincráticas a sus costes de menú. Encontramos...