This paper investigates whether the quality of higher education and, in particular, its research performance stimulate graduates' research-oriented careers. More specifically, exploiting a very rich data-set on university graduates and the higher education institutions they attended, we...

The objective of this paper is to understand the impact of immigration on the Spanish pension system during the next fifty years by building aquantitative-theoretical framework. In order to carry out the exercise of projection of revenues and expenditures in the Spanish pension system, we have...

Theoretical and empirical studies exploring the effects of income inequality upon growth reach a disappointing inconclusive result. This paper postulates that one reason for this ambiguity is that income inequality is actually a composite measure of at least two different sorts of inequality:...

This paper analyses the determinants of observed exits from employment for people aged 45-59 years old in the context of the Spanish labour market in 1981-2006. The main aim of the paper is to identify the effect of the business cycle (BC) on the timing and the type of exit route out of the...

The central and regional governments of Spain have recently reached an agreement to reform the regional financing system. This paper describes the structure of the new system and provides preliminary estimates of its initial financial results. It also identifies some shortcomings of the new model.

Transport infrastructure investment reduces the cost of distance and enables firms to establish and maintain contacts over larger distances. Spain has developed an ambitious road building programme over the last decades, which has considerably reduced transport costs to access European markets....

The US relies on charitable medical care to serve the uninsured, most of which is offered by hospitals that act as providers of last resort and that constitute the safety net. Traditionally, these hospitals have been able to finance their provision of unfunded care through a complex system of...

The 20/20/20 plan for Europe emphasizes the role of changing the energy model as a means to reach the objective of reducing emissions in 2020 by 20% with respect to 1990 levels. Most empirical emission models are found within the framework of the Environmental Kuznetz Curve (EKC), which focuses...

The current slump is having a heterogeneous impact on the EU economies regarding their GDP and employment growth responses. The impact of immigrants’ unemployment on public finances of EU countries depends on three factors: (i) the sensitiveness of the economy to the business cycle, (ii) the...

In this paper, we provide a brief introduction to a new macroeconometric model of the Spanish economy named MEDEA (Modelo de Equilibrio Dinámico de la Economía EspañolA). MEDEA is a dynamic stochastic general equilibrium (DSGE) model that aims to describe the main features of the Spanish...