In the mid 80.s, many European countries liberalized the use of fixed-term contracts in order to lower firm.s non-wage labor costs, instead of reducing firing costs associated with indefinite duration contracts. This policy generated segmented labor markets, being the Spanish case the most...

El objetivo de este trabajo es analizar el impacto que la entrada de inmigrantes tendrá sobre las cuentas de las Administraciones Públicas andaluzas y sobre la sostenibilidad a largo plazo de las actuales políticas de gasto público en Andalucía. Para ello, realizamos diferentes simulaciones...

We document that, across households, the money consumption ratio increases with age and decreases with consumption, and that there has been a large increase in the money consumption ratio during the recent era of very low interest rates. We construct an overlapping generations (OLG) model of...

This paper proposes a new equilibrium concept organizational equilibrium for models with state variables that have a time inconsistency problem. The key elements of this equilibrium concept are: (1) agents are allowed to ignore the history and restart the equilibrium; (2) agents can wait for...

Abstract In this paper I explore the quantitative implications for savings of population aging. In doing so, I pay particular attention to some features that have been partially over-looked in the literature. These features include the details of the population aging process, the initial...