We study a cooperative problem where agents contribute a certain amount of money or capital in order to obtain a surplus. The proportional distribution with respect to the contributions of players is a core element of the cooperative game associated. Within this basic model, an external agent is...

An examination of the impact in the US and EU markets of two major innovations in the provision of air services on thin routes - regional jet technology and the low-cost business model - reveals significant differences. In the US, regional airlines monopolize a high proportion of thin routes,...

This study analyses the evolution of greenhouse gas (GHG) emissions and acidification emissions for Italy in the years 1995-2005. Looking at data, while emissions that contribute to the local problem of acidification have been decreasing quite constantly, GHG emissions have been showing a slight...

Regional disparities in unemployment rates are large and persistent. The literature provides evidence of their magnitude and evolution, as well as evidence of the role of certain economic, demographic and environmental factors in explaining the gap between regions of low and high unemployment....

This article analyses the impact that innovation expenditure and intrasectoral and intersectoral externalities have on productivity in Spanish firms. While there is an extensive literature analysing the relationship between innovation and productivity, in this particular area there are far fewer...

The aim of the present paper is to identify the determinants of the geographical mobility of skilled individuals, such as inventors, across European regions. Their mobility contributes to the geographical diffusion of knowledge and reshapes the geography of talent. We test whether geography,...

We study the theoretical properties that particular matching functions must satisfy to represent a frictional labor market within a general equilibrium random matching model. We analyze Cobb-Douglas, CES and other functional forms of the matching function. Our findings establish restrictions on...

In this paper we obtain the main results of the Markowitz mean-variance model from the inverse of the covariance matrix, following a shorter and mathematically rigorous path. We also obtain the equilibrium expression of Sharpes capital asset pricing model (CAPM).

With the exception of the North American Free Trade Agreement (NAFTA), trade integration is still modest in Latin America, at around 20% of total trade. Surprisingly, these levels were higher in 1945, when the figure for imports stood at 25.6%. Paradoxically, this result shows that trade...

The paper aims to show the extent to which the wine production sector in the Penedes Denominacio dOrigen responded to the challenges posed both in terms of supply (consolidation and emergence of producing countries outside the traditional European sphere) and demand (fall in wine consumption and...