Este artículo propone una forma de estudiar las disparidades entre regiones alternativa a las propuestas en la literatura hasta el momento. En primer lugar, se propone evaluar la desigualdad entre regiones utilizando la renta agregada de varios períodos en lugar de la renta de un sólo...

Este ensayo es una revisión de la literatura reciente sobre la conveniencia de sustituir el impuesto sobre la renta habitual por un impuesto personal sobre el consumo. La versión que se defiende de este último arranca de los dos impuestos de tipo único del Flat Tax de Hall y Rabushka (1983,...

This paper analyzes the incentives for governments to impose export subsidies when firms invest in a cost saving technology before market competition. Governments first impose an export subsidy or a tax. After observing export policy, firms invest in cost reducing R&D and subsequently compete in...

We study the strategic behavior of voters in a model of proportional representation, in which the policy space is multidimensional. Our main finding is that in large electorate, under some assumptions on voters' preferences, voters essentially vote, in any equilibrium, only for the extreme parties.

This paper studies first-order differentiability properties of the value function in concave dynamic programs. Motivated by economic considerations, we dispense with commonly imposed interiority assumptions. We suppose that the correspondence of feasible choices varies with the vector of state...

We consider an economy in which firms need to invest in capital before they can advertise a job, while applicants may have to compete for jobs. Our aim to investigate how this competition affects the investment decisions of firms. Our first finding shows that the economy always generates the...

This paper studies the consequences on growth and welfare of imposing limits to public borrowing. In the model economy, government spending may play two different roles, either as input in the production function, or providing services directly in the utility function. In these setups I study...

In this paper we investigate the size of the risk premium and the term premium in an representative agent exchange model economy where households preferences are subject to habit formation. As a novel feature, we develop theoretical measures for risk premium and term premium that can be used...

This study analyses the effects on unemployment and the quality of employment of the Spanish labour market reform in 2001 for the most important age groups. The content of the reform was based on the implementation of two policies: (i) a new permanent contract with lower firing costs than the...