This paper proposes omnibus and directional tests for testing the goodness-of-fit of a parametric regression time series model. We use a general class of residual marked empirical processes as the building-blocks for estimation and testing of such models. First, we establish a weak convergence...

We propose in this article the use of a testing procedure due to Robinson (1994) for testing deterministic seasonality versus seasonal fractional integration. A new statistic, based on the score principle, is developed to simultaneously test both the order of integration of the seasonal...

In this note I provide examples to show that, contrary to what is widely believed, when changing from an uniform price to a third-degree price discrimination situation, an improvement in welfare is possible with output reduction, if there is more than one firm.

Inflation volatility has significantly declined over the last 20 years in the U.S. To find out why, I follow a structural approach. I estimate a complete New Keynesian model which imposes cross-equation restrictions on the time series of inflation, the output gap and the interest rate. I perform...

This article examines the real convergence hypothesis in 15 OECD countries. For this purpose, we examine the order of integration of the real GDP per capita series in these countries as well as their differences with respect to the US which is used as a benchmark country. We use both parametric...

The temporary help services (THS) industry has experienced an impressive growth, representing 16% of temporary hiring in Spain. At the same time it exhibits a remarkable regional disparity. The main purpose of this paper is to develop an appropriate theoretical model for analysing the THS...

In the labour markets that gather few companies to compete for many workers, the economic theory predicts the existence of monopsony rents. It should also be the case of the Spanish soccer industry. However, the clubs of this league do not profit from the expected rents. The purpose of this...

This paper proposes an omnibus test for testing a generalized version of the martingale difference hypothesis (MDH). This generalized hypothesis includes the usual MDH, testing for conditional moments constancy such as conditional homoscedasticity (ARCH effects) or testing for directional...

This paper presents evidence on actual collusive agreements from the late 19th Century iron and steel industry in Spain. We examine the minutes of the executive boards of two Basque firms, Altos Hornos de Bilbao and Vizcaya, to discuss the relevance of different factors on survival and failure...