This paper analyzes the period-to-period changes that occur in an optimizing monetary model with uncertainty and sticky prices. Money is incorporate in its role as a medium of exchange through a time-cost transactions techonolgy. Another important characteristic of the model is that both capital...

Following Erceg et al. (2000), sticky wages are generally modelled assuming that households set wage contracts à la Calvo (1983). This paper compares that sticky-wage model with one where wage contracts are set by firms, assuming flexible prices in any case. The key variable for wage dynamics...

We propose a new class of voting rules, called Size Approval Voting. According to this rule, the efective weight of a vote from a given individual depends on how many other alternatives the very same individual votes for. In particular, weights are assumed to be non-negative and weakly...

El objetivo de este trabajo es analizar cuál ha sido la contribución regional y sectorial a la convergencia en productividad en la Unión Europea entre 1977 y 1999. Para ello se combina la metodología propuesta por Esteban (2000) con diversos resultados procedentes de la literatura...

This paper examines the distribution dynamics of regional per capita income in the European Union between 1977 and 1999. To achieve this aim, we combine a non-parametric approach with the information provided by various measures used in the literature on personal income distribution. The results...

¿Son permanentes o temporales los desequilibrios de renta entre regiones? El objetivo de este trabajo es analizar la evolución de la desigualdad regional en renta por habitante en la Unión Europea en el período 1977-1999. A diferencia de la literatura tradicional sobre convergencia, el...

This paper presents an assessment of the effects of fiscal policy on economic growth. Starting from a theoretical model in which only those fiscal policy instruments presumed to strictly influence the production process (i. e., public capital and transfers) are incorporated into the production...

This paper examines the impact of infrastructure on productivity in the various regions of Spain. Using the duality approach and panel data, we estimate the regional cost functions for the three main sectors of the economy for the period 1964-1991. We also estimate a production, and two separate...

Las matrices de contabilidad social son bases de datos específicas para modelos lineales y modelos de equilibrio general aplicado. La adecuación de las matrices para análisis de política economica requiere con frecuencia su modificacion, lo que suele ser dificultoso debido a las condiciones...

En este trabajo se examina la manera en que los países miembros de una unión monetaria responden a las perturbaciones específicas y a las que proceden del resto del mundo, cuando aplican políticas de oferta. Desarrollamos un modelo de tres países que muestran preferencias distintas respecto...