The difficulty of returning to (near) full employment and especially the high incidence of unemployment at the bottom side of the labour market these days, has inspired economists to make various policy proposals. Almost all measures actually applied maintain or even intensify the conditional...

El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...

A buyout option enhances an auction by allowing a bidder to purchase the item at a pre-specified price (instead of attempting to obtain the item by way of auction). A comparison is made between the ex ante welfare of bidders in an auction with a buyout option to a traditional auction with no...

One set of n objects of type I, another set of n objects of type II, and an amount M of money is to be completely allocated among n agents in such a way that each agent gets one object of each type with some amount of money. We propose a new solution concept to this problem called a perfectly...

General Equilibrium Theory (GE) scrutinizes the ability of markets to achieve efficient allocation of resources. The main purpose of this work is, in the framework to the GE to analyze, the possibility of design a mechanism enabling agents to make independent decisions compatible with social...

We explore the complementarities between high-skill emigration and poverty in developing countries. We build a model endogenizing human-capital accumulation, high-skill migration and productivity. Two countries sharing the same characteristics may end up either in a "low poverty/low brain drain"...

Although movements of capital, goods and services are growing in importance, workers movements are impeded by restrictive policies in rich countries. Such regulations carry substantial economic costs for developing countries, and prevent global inequality from declining. Even if rich countries...

We describe a model of fundraising in social groups, where private information about quality of provision is transmitted by social proximity. Individuals engage in voluntary provision of a pure collective good that is consumed by both neighbors and non-neighbors. We show that, unlike in the case...

Collective household models posit that each household member has access to a fraction of the household budget, called a resource share, which defines the shadow budget faced by a household member. Together with the within-household shadow price vector, the shadow budget determines the material...

There are a number of single-profile impossibility theorems in social choice theory and welfare economics that demonstrate the incompatibility of dominance criteria with various nonconsequentialist principles given some rationality restrictions on the rankings being considered. This article is...