This article analyzes firm and worker's incentives to invest in general and specific training when these are separable in the production technology and wages are determined by the outside-option principle. It is shown that firms pay for general training, while workers receive the full return on...

In this paper we provide an explanation based on the conflict of interes between top management, middle management and shareholders of why firms adopt different diversification strategies and how they structure themselves to manage those diversification strategies. It es shown that when...

En este trabajo se estiman empíricamente las diferencias salariales por género existentes en El Salvador. Se trata de una economía caracterizada por un alto subempleo y una significativa pobreza estructural, por lo cual se podría esperar que las diferencias salariales en contra de la mujer...

This article develops a new rationale for the emergence of pay-for-performance contracts where the labor market is competitive, workers are risk averse, and firms are risk neutral and unaware of workers' productivities. The article shows that the prevalence of pay for performance rises and the...

Este artículo tiene por objeto estudiar los efectos de la antigüedad en el empleo sobre el nivel de salarios. Para esto se estimaron ecuaciones de ingresos corregidos por sesgos de selección. La principal conclusiones es que la antigüedad en el empleo incrementa el nivel de salarios y que la...

Asymmetric-price adjustment is a common phenomenon in many markets around the world, particularly in retail gasoline markets. This paper studies the existence of this phenomenon in the retail gasoline market in the city of Santiago, Chile, using a data set of weekly gas station prices that...

En este artículo se estudian los equilibrios de mercado resultantes en una industria de facilidades esenciales, con un monopolio upstream y competencia oligopólica downstream, la que enfrenta posteriormente entrada en el segmento monopólico. Se encuentra que la competencia de duopolios...

I this paper we consider a market situation in which initially there is an unintegrated monopoly upstream entry and vertical integration. The equilibrium entry mode -sharing the incumbent facility or building a new facility- is derived as well as the equilibrium market structure. Several policy...

This paper shows that the effects of financial liberalization on the credit market of a small and capital constrained economy depend on the market structure of domestic banks prior to liberalization. Specifically, under perfect competition in the domestic credit market prior to liberalization,...