In this paper we present a preliminary estimate of the impact of the recent agreement between the Spanish government and the social partners to reform the public contributive pension system. After updating the projections of pension expenditure constructed in de la Fuente and Doménech (2010)...

In this paper we extend the Stock and Watson’s (1991) single-index dynamic factor model in an econometric framework that has the advantage of combining information from real and financial indicators published at different frequencies and delays with respect to the period to which...

En este trabajo se presenta una primera estimacion del impacto de la reforma del sistema de pensiones acordada por el Gobierno y los agentes sociales en enero de 2011. Tras actualizar las proyecciones de gasto en pensiones realizadas por de la Fuente y Domenech (2009) para el periodo 2008-60, se...

We use a small open economy general equilibrium model to analyse the effects of a fiscal devaluation in EMU. The model has been calibrated for the Spanish economy, that is a good example of the advantages of a change in the tax mix, given that its tax system shows a positive bias in the ratio of...

This paper shows that the variation in the world export share and the internationalisation process that the Spanish economy has experienced since the establishment of EMU have been determined by a broad set of factors that go beyond the evolution of international relative prices....

This paper provides new measures of human capital inequality for a broad panel of countries. Taking attainment levels from Barro and Lee (2001), we compute Gini coefficients and the distribution of education by quintiles for 108 countries over five-year intervals from 1960 to 2000. Using this...

In this paper we challenge the conventional assumption that accumulated human capital can be divided into employer-specific and general labour market skills and explore the possibility of industry and occupational specificity. The estimates of a Mincer wage equation, on a BHPS sample, suggest...

This paper presents a model of partial observability applied to the childcare market in Britain. We simultaneously estimate the demand and use and calculate the excess demand for childcare. We find a large queue with nearly half of the mothers demanding childcare queuing for it. We also find...