This paper introduces and describes unobserved heterogeneity in earnings quintiles transitionmatrices in the US. Unobserved heterogeneity is found to play a crucial role in earnings mobility.Each individual is attracted, given his characteristics, towards a specific zone of the distribution.At...

In this paper we model a situation competition between two editorswho are rivals in both the newspapers’ and advertising industries. To identifythe consequences of this competition, we analyse a two-period sequentialgame whose players are the editors each selling a differentiated...