Most motor bodily injury (BI) claims are settled by negotiation, with fewer than 5% of cases going to court. A well-defined negotiation strategy is thus very useful for insurance companies. In this paper we assume that the monetary compensation awarded in court is the upper amount to be offered...

Regional data on wages for the Spanish economy show that workers who live in developed regions earn more than workers in other regions. Literature on external economies provides a possible explanation of why firms do not move from these regions to others where wages are lower. Previous studies...

We extend Rochfords (1983) notion of symmetrically pairwise-bargained equilibrium to assignment games with more than two sides. A symmetrically multilateral-bargained (SMB) allocation is a core allocation such that any agent is in equilibrium with respect to a negotiation process among all...

This study explores the existence of a wage curve for Spain. To quantify this relationship for the Spanish economy, we used individual data from the EPF 1990-1991. The results show the presence of a wage curve with an elasticity of 0.13. The availability of very detailed information on wages and...

This paper uses a overlapping generation general equilibrium model to study a reform of the social security system, going from an unfunded to a funded system. We also analyze the effects of this reform on the incentives of young generations to acquire skills. the main objective is to evaluate...

This research provides a description of the process followed in order to assemble a Social Accounting Matrix for Spain corresponding to the year 2000 (SAMSP00). As argued in the paper, this process attempts to reconcile ESA95 conventions with requirements of applied general equilibrium...

In many fields of economic analysis the order of integration of some economic magnitudes is of particular interest. Among other aspects, the order of integration determines the degree of persistence of that magnitude. The rate of inflation is a very interesting example because many contradictory...

This Phillips-Ouliaris (1988) non-parametric unit root test for non seasonal data and the seasonal one of Joyeux (1992) are based in the estimation of the spectral density function in a fixed frequency. We can get consistent estimations of the spectrum using spectral windows, but such procedure...

Most optimistic views, based on Optimum Currency Areas (OCA) literature, have concluded that the probability of asymmetric shocks to occur at a national level will tend to diminish in the Economic and Monetary Union (EMU) as a result of the intensification of the integration process during the...

There exist coalitional games with transferable utility which have the same core but different nucleoli. We show that this cannot happen in the case of assignment games. Whenever two assignment games have the same core, their nucleoli also coincide. To show this, we prove that the nucleolus of...