Starting in 1999 a group of papers have appeared in mainstream journals that treat of the relation between capitalism and democracy in an eminently Marxian fashion. These analyses bear on a number of papers published mainly in S&S, specifically those of Castañada, Ellman, Harnacker, Nimtz and...

We show how to calibrate CES production and utility functions when indirect taxation affecting inputs and consumption is present. These calibrated functions can then be used in computable general equilibrium models. Taxation modifies the standard calibration procedures since any taxed good has...

This paper illustrates how convergence equations can be used to analyze the dynamics of the income distribution, thus overcoming some of the limitations of this methodology noted by Quah. Using panel data for a sample of OECD countries, we estimates a growth equation which relates the growth...

Convergence in inflation rates may not imply a process of convergence in price levels. If this were the case in the European Union, small but consistent differences in inflation would lead to inevitable realignments and would end up in a set back of the inflation convergence process. For some...

This paper provides empirical evidence that continuous time models with one factor of volatility, in some conditions, are able to fit the main characteristics of financial data. It also reports the importance of the feedback factor in capturing the strong volatility clustering of data, caused by...

We analyze the incentives for cooperation of three players differing in their efficiency of effort in a contest game. We concentrate on the non-cooperative bargaining foundation of coalition formation, and therefore, we adopt a two-stage model. In the first stage, individuals form coalitions...