We theoretically and experimentally study a zero sum betting market: the Pelota betting system, but with commonly known objective probabilities and without commissions. We know that risk-averse expected utility maximizers with identical objective probabilities cannot agree on a bet....

This paper explores the relationship between employment protection legislation (EPL) and the share of employment in the IT-sector. Evidence from several OECD countries suggests that the importance of the IT-sector is smaller in economies with high levels of EPL than in economies with low levels....

In this paper we provide an empirical test of the long-run Fisher effect for the Spanish case, using quarterly data for the period 1962-1996. To this end, we make use of some new techniques on unit roots and cointegration, where the presence of possible structural changes in the trend of the...

En este trabajo se pretende medir la eficiencia tecnica de las agriculturas regionales españolas, asi como intentar responder a la pregunta de que efectos provoca la intervencion de la Politica Agraria Comun (PAC, en adelante) en las regiones españolas. En el primer apartado se trata de...

A reasonable social objective of some impartial observer could be providing people the possibility to achieve a better life. Achieving a better life depends, in its turn, on the personal living conditions. Hence, offering the best distribution of conditions from a set of posible distributions...

The objective of this paper is to develop a general framework for the macroeconomic modelling of monetary unions, which could be useful for policy analysis, as well as for teaching purposes. Our starting point will be the standard twocountry Mundell-Fleming model with perfect capital mobility,...

Este trabajo estudia el papel desempeñado por el cambio estructural en el proceso de convergencia en productividad experimentado por las regiones europeas entre 1977 y 1990. Para ello se va a proceder a la estimación de ecuaciones de convergencia con datos regionales de sección cruzada...

There is extensive field and experimental evidence in a wide variety of environments showing that behavior depends on a reference point. This paper provides an axiomatic characterization for such behavior. Our approach is dual, we study choice behavior and preference relations. We proceed by...

Se analizan las novedades recientes en el debate sobre financiacion territorial sanitaria: el nuevo modelo de financiacion autonomica para el quinquenio 1997-2001, y la nueva RAWP, formula inglesa de reparto financiero sanitario y el acuerdo del Consejo de Política Fiscal y Financiera de 27 de...