In this paper, we build and structurally estimate a complete information bargaining model of collective negotiation for Spain. For large firms, the assumption of complete information seems a sensible one, and it matches the collective bargaining environment better than the one provided by...

This paper studies how the introduction of social learning with costs to delay affects coordination games with incomplete information. We present a tractable noisy dynamic coordination game with social learning and costs to delay. We show that this game has a unique monotone equilibrium. A...

Mental illness accounts for a massive share of the total burden of disease. Even when we include the burden of premature death mental illness accounts for 23% of the total burden of disease. Yet, despite the existence of cost-effective treatments, it receives only 13% of NHS health expenditure....

Much of the academic and policy literature on performance related pay focuses on its role as an incentive system. Its role as means for renegotiating performance norms has been largely neglected. The introduction of performance related pay, based mostly on appraisals by line managers, in the...

In this paper, I first provide a unifying approach to Mean-Variance analysis and Value at Risk, which highlights both their similarities and differences. Then I use it to explain how fund managers can take investment decisions within the well-known Mean-Variance allocation framework that satisfy...

Sales are a widespread and well-known phenomenon that has been documented in several product markets. Regularities in such periodic price reductions appear to suggest that the phenomenon cannot be entirely attributed to random variations in supply, demand, or the aggregate price level. Certain...

Review of - Guy Palmer, Tom MacInnes and Peter Kenway (2008), Monitoring poverty and social exclusion 2008. York: Joseph Rowntree Foundation. pp. 116, pbk.

Using administrative employer-employee data from Germany, I exploit two reductions of tax breaks for commuting in 2003/4 and 2006/7 to estimate commuting costs’ effect on the decision to switch job and move house. Standard theory predicts that higher commuting costs should lead to increased...

We test implications of economic geography models for location, size and growth of cities with US Census data for 1900 û 1990. Our tests involve non-parametric estimations of stochastic kernels for the distributions of city sizes and growth rates, conditional on various measures of market...