We test the assumption that the relation between sexual activity is nonlinear, considering that the impact of sex on productivity and therefore on wage occurs during a certain interval of times which one cannot perceive if discrimination is not done. In other words, we must use different dummies...

We test the assumption that the relation between sexual activity and wage is nonlinear, considering that the impact of sex on productivity and therefore on wage occurs during a certain interval of times which one cannot perceive if discrimination is not done. In other words, we must use...

This paper deals with the frictions arising in the transfer of collateral from borrowers to lenders in case of default in collateralized loans. We propose a simple model of collateralized loans in which the sale of assets (borrowing) is tied to the purchase of a put option written on the...

In this work I study the stability of the dynamics generated by adaptive learning processes in intertemporal economies with lagged variables. I prove that determinacy of the steady state is a necessary condition for the convergence of the learning dynamics and I show that the reciprocal is not...

A contractive method for computing stationary solutions of intertemporal equilibrium models is provided. The method is implemented using a contraction mapping derived from the first-order conditions. The deterministic dynamic programming problem is used to illustrate the method. Some numerical...