We apply the business cycle methodology proposed by Chari, Kehoe, and McGrattan (2007) to identify the sources of Spanish business fluctuations during two outstanding cyclical episodes: the recession alongside the inception of democracy on 1977, and the recession of 2008. We find that the labor...

In this paper we explore the implications of normative principles for the evaluation of population health. We formalize those principles as axioms for social preferences over distributions of health for a given population. We single out several focal population health evaluation functions, which...

Revealed preferences are not consistent. Many anomalies have been found in different contexts. This finding leads to a divergence between normative and descriptive analyses. There are several ways of facing this problem. In this paper we argue in favour of debiasing observed choices in such a...

We provide a general coalitional procedure that characterizes a family of rules for bankruptcy problems inspired by the Talmud.

The aim of this paper is to analyze the energy sector in Andalusia, a Spanish region, and its importance from the viewpoint of final energy consumption, trying to determine which demands are the most costly to satisfy in terms of emissions of pollutants to the atmosphere. To do this, we apply an...

This article studies a model of coalition formation for the joint production (and finance) of public projects, in which agents may belong to multiple coalitions. We show that, if projects are divisible, there always exists a stable (secession-proof) structure, i.e., a structure in which no...

The aim of this article is to analyse the strategies employed by the Rothschilds until 1940 to limit competition in the non ferrous international market. We will study how they opted for rigid demand products of highly concentrated supply which were favourable to market control (mercury, nickel,...

The aim of this paper is to shed some light on the potential relationships between the unemployment insurance system and labour market turnover, seeking to further the traditional view that this system has only behavioural consequences for the labour supply side of the labour market. This study...

This paper provides a novel single equation estimator of the Sticky Information Phillips Curve (SIPC), which permits to estimate the exact model without any approximation or truncation. In detail, information stickiness is estimated by employing a GMM estimator that matches the theoretical with...

In this paper we analyze the sensitivity of the labour market decisions of workers close to retirement with respect to the incentives created by public regulations. We improve upon the extensive prior literature on the effect of pension incentives on retirement in two ways. First, by modeling...