Firing costs are often blamed for unemployment. In this paper, we investigate this widespread belief theoretically. Firing costs are introduced in a efficiency wage model to capture their effects on employment through wages. In addition, dismissal conflicts are modelled explicitly and their cost...

This paper shows a New Keynesian model where wages are set at the value that matches household´s labor supply with firm´s labor demand. Subsequently, wage stickiness brings industry-level unemployment fluctuations. After aggregation, the rate of wage in?ation is negatively related to...

Ranking finite subsets of a given set X of elements is the formal object of analysis in this paper. This problem has found a wide range of economic interpretations in the literature. The focus of the paper is on the family of rankings that are additively representable. Existing characterizations...

Kalai, Rubinstein, and Spiegler (2002) propose the rationalization of choice functions that violate the “independence of irrelevant alternatives” axiom through a collection (book) of linear orders (rationales). In this paper we present an algorithm which, for any choice function, gives (i)...

In this paper we provide new evidence on the hypothesis of German leadership and asymmetric performance in the EMS, in the framework of causality tests, using daily data. Given the evidence about non-linearity in financial series, we propose applying non-linear forecasting methods based on the...

Employing cross-country data, this paper evaluates the transitional dynamics predictions of a non-scale growth model of endogenous technology innovation and imitation. We show that, unlike the neoclassical growth framework, the transitional dynamics of the R&D-based growth model can account for...

This paper studies technology policy within the context of an R&D-based growth model. We first use cross-country data to document several empirical regularities regarding the relationship between public support to research and imitating, and relative income levels. We then construct a model in...

This paper attempts to analyze the effects that shopfloor participation has on firm performance and examine if cooperatives show better results than capitalist firms. Moreover, it tries to study if the impact of participation on performance is different in cooperatives and capitalist firms. To...

This paper examines productive specialization in the regions of the European Union over the period 1977 to 1999 using the information provided by various methodological instruments. The results obtained reveal a process of convergence in regional productive structures during the twenty-three...

En este trabajo se analiza la sostenibilidad del sistema de la Seguridad Social en España. Para ello se examinan los principales componentes de los ingresos y gastos del sistema que han caracterizado su evolución en los últimos años, así como aquellos factores que más han contribuido a la...