We construct a dynamic voting model of multiparty competition in order to capture the following facts: voters base their decision on past economic performance of the parties, and parties and candidates have different objectives. This model may explain the emergence of parties' ideologies, and...

The problems arising in commercial distribution are complex and involve several players and decision levels. One important decision is related with the design of the routes to distribute the products, in an efficient and inexpensive way. This article deals with a complex vehicle routing problem...

The statistical properties of inflation and, in particular, its degree of persistence and stability over time is a subject of intense debate and no consensus has been achieved yet. The goal of this paper is to analyze this controversy using a general approach, with the aim of providing a...

We present a novel approach to N-person bargaining, based on the idea that the agreement reached in a negotiation is determined by how the direct conflict resulting from disagreement would be resolved. Our basic building block is the disagreement function, which maps each set of feasible...

We present voters' self-placement and 68 political party locations on the left-right dimension in 17 Latin American countries. Innovative calculations are based on data from Latinobarometer annual surveys from 1995 to 2002. Our preliminary analysis of the results suggests that most Latin...

The present paper makes progress in explaining the role of capital for inflation and output dynamics. We followWoodford (2003, Ch. 5) in assuming Calvo pricing combined with a convex capital adjustment cost at the firm level. Our main result is that capital accumulation affects inflation...

Labor market regulations have often being blamed for high and persistent unemployment in Europe, but evidence on their impact remains mixed. More recently, attention has turned to the impact of product market regulations on employment growth. This paper analyzes how labor and product market...

Des del principi dels temps històrics, la Matemàtica s'ha generat en totes les civilitzacions sobre la base de la resolució de problemes pràctics.Tanmateix, a partir del període grec la Història ens mostra la necessitat de fer un pas més endavant: l'evolució històrica de la Matemàtica...

This paper addresses the issue of the optimal behaviour of the Lender of Last Resort (LOLR) in its microeconomic role regarding individual financial institutions in distress. It has been argued that the LOLR should not intervene at the microeconomic level and let any defaulting institution face...

A key aspect of industrialization is the adoption of increasing-returns-to-scale, industrial, technologies. Two other, well-documented aspects are that industrial technologies are adopted throughout intermediate-input chains and that they use intermediate inputs intensively relative to the...