Incentives to vertically integrate are studied in an industry where downstream firms are vertically differentiated. Vertical integration by one of the firms increases production costs for the rival. Increased production costs impact quality investment both by the integrated firm and the...

Using data from the British Household Panel Survey we analyze the impact of second tier pension schemes on voluntary job mobility within a discrete time hazard rate modelling framework. We find that workers covered by occupational pension plans have significantly lower quit rates, independently...

The rapid growth of private higher education in response to high demand is a recent phenomenon in most European countries. This paper provides a theoretical model of the higher education market in which a public and a private university compete for students in the presence of borrowing...

The aim of this study is the analysis of the influence of a multinational company (MNC) on its local supplier’s network within the host territory. We have particularly focused on how the MNC influences the performance of supplier as well as non-supplier local companies. Our study has shown the...

This paper dreives optimal monetary policy rules in setups where certainty equivalence does not hold because either central bank preferences are not quadratic, and/or the aggregate supply relation is nonlinear. Analytical results show that these features lead to sign and size aymmetries, and...

Objetivo. Estimar el consumo de recursos sanitarios empleados en prevención y el tratamiento de pacientes con Diabetes Mellitus (DM) en España en el año 2002. Métodos. Estudio de coste de la enfermedad. Los costes directos sanitarios se estimaron mediante un enfoque de prevalencia...

We analyze the economic aspects of corruption in public procurement. We describe the conditions necessary to corruption and develop five intermediary objectives in the task of fighting against corruption. We propose a mechanism that pursues such objectives.

In this paper we consider polynomial cointegrating relationships among stationary processes with long range dependence. We express the regression functions in terms of Hermite polynomials and we consider a form of spectral regression around frequency zero. For these estimates, we establish...

In games with population uncertainty some perfect equilibria are in dominated strategies. We prove that every Poisson game has at least one perfect equilibrium in undominated strategies.

If a smooth demand function violates the strong axiom of revealed preference, the income and prices can follow a cycle and returm to their starting values even though real income is always rising. We show how real income growth along the “worst” revealed preference cycle depends on the range...