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Vintage capital growth models have been at the heart of growth theory in the 60s. This research line collapsed in the late 60s with the so-called embodiment controversy and the technical sophisitication of the vintage models. This paper analyzes the astonishing revival of this literature in the...
Persistent link: https://www.econbiz.de/10009149196
We study a dynamic model where growth requires both long-term investment and the selection of talented managers. When ability is not ex-ante observable and contracts are incomplete, managerial selection imposes a cost, as managers facing the risk of being replaced tend to choose a sub-optimally...
Persistent link: https://www.econbiz.de/10009151035
En el presente informe se realiza un análisis crítico del sistema español de financiación territorial y se avanzan una serie de recomendaciones para su reforma. La principal conclusión del trabajo es que el modelo actual no se adecua satisfactoriamente a los principios de igualdad,...
Persistent link: https://www.econbiz.de/10009151036
We introduce wage setting via efficiency wages in the neoclassical one-sector growth model to study the growth effects of wage inertia. We compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy without wage inertia. We show that wage inertia affects...
Persistent link: https://www.econbiz.de/10009151199
We present a formal model of intra-party politics to explain candidate selection within parties. We think of parties as heterogeneous groups of individuals who aim to implement a set of policies but who differ in their priorities. When party heterogeneity is too large, parties are in danger of...
Persistent link: https://www.econbiz.de/10008678705
There is a high degree of sex-typing in young children's occupational aspirations and this has consequences for subsequent occupational segregation. Sociologists typically attribute early sex- differences in occupational preferences to gender socialization. Yet we still know surprisingly little...
Persistent link: https://www.econbiz.de/10008682967
We study the properties of the well known Replicator Dynamics when applied to a finitely repeated version of the Prisoners' Dilemma game. We characterize the behavior of such dynamics under strongly simplifying assumptions (i.e. only 3 strategies are available) and show that the basin of...
Persistent link: https://www.econbiz.de/10008683665
In this paper we study how the access price affects the choice of the tariff regime taken by the network operators. We show that for high values of the access price, that is taken as a parameter by the firms, networks decide to charge only the callers. Otherwise, for low values of the access...
Persistent link: https://www.econbiz.de/10008684823
This paper formalizes in a fully-rational model the popular idea that politicians perceive an electoral cost in adopting costly reforms with future benefits and reconciles it with the evidence that reformist governments are not punished by voters. To do so, it proposes a model of elections where...
Persistent link: https://www.econbiz.de/10008685282
El presente trabajo resume los resultados de la primera fase de un proyecto cuyo objetivo es el de ofrecer series homogéneas de los principales agregados económicos y demográficos de las regiones españolas para el período desde 1950 hasta nuestros días. En él se recopilan, extienden o...
Persistent link: https://www.econbiz.de/10008685283