This paper explores the transmission channel from monetary variables to real variables in the steady-state equilibria of various neoclassical optimizing models with money. The existence of superneutrality is rejected for the four models at hand: time-cost transactions approach, output-cost...

The purpose of this paper is to show how international policy coordination may be the best response to economic interdependence. We will study the short-run interactions that take place among interdependent economies, where monetary supply is the instrument used to maintain output and price...

This paper proposes a new framework of choice under uncertainty, where the only information available to the decision maker is about the the ordinal likelihood of the di erent outcomes each action generates. This contrasts both with the classical models where the potential out- comes of each...

En este artículo tratamos de analizar con una visión de largo plazo la evolución de los ingresos impositivo en el periodo franquista. Para eso se han recopilado series de ingresos impositivos de todas las fuentes primarias existentes y disponibles. Se ha comprobado cómo el uso de distintas...

Noise is a major urban problem that has not received much attention from environmental economists. In this paper we present an attempt to value a noise reduction program in a Spanish city. Contingent valuation has been applied using both one and one-half bound and open-ended question formats....

This is a model of technology adoption that takes seriosly the fact that new inventions are specific to the enviromment in which they emerge. The key feature of the model is that the firm can invest resources in R&D to adapt externally originated ideas to the environment in which they are used....

This paper describes a model with sticky prices, search frictions and hours-clearing wages that provides firm differentiation across several dimensions: price, output, wage, employment and hours per worker. The connection between pricing and hiring decisions results in firm-level employment...

The aim of this research is to model altruistic blood and organ donors behaviour. First, we make an analysis of the decision of to be or not to be a donor for any individual. We propose a model where individuals compare the expected utility of deciding to become a donor, with the utility of the...

Erceg, Henderson and Levin (2000, Journal of Monetary Economics) introduce sticky wages in a New-Keynesian general-equilibrium model. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations into a New-Keynesian model. Using Bayesian econometric techniques, both...

Leniency clauses, offering cartelists legal immunity if they blow the whistle on each other, is a recent anti-trust innovation. The authorities wish to thwart cartels and promote competition. This effect is not evident, however; whistle-blowing may enforce trust and collusion by providing a tool...