Search results for " price"
showing 10 items of 290 documents
When Stolper-Samuelson Does Not Apply: International Trade and Female Labor
2011
Whenever a country specializes on industries that use female labor intensively, its female labor force participation should increase. This intuition, which bases on the Stolper-Samuleson Theorem, may fail in a three-factor, two-good model. We develop a model where capital, male and female work are distinct factors of production. We follow an established assumption and postulate that capital accumulation closes the gender wage gap. In this setup, the Stolper-Samuleson based intuition fails necessarily: the gender wage gap widens in countries that specialize on sectors intensive in female labor, and vice versa.
Fair Wages and Unemployment in a Small Open Economy
2006
In this paper we develop a model of a multi-sector multi-factor small open economy with involuntary unemployment due to fair wages. The model is used inter alia to analyse the labour market effects of changes in unemployment benefits and the domestic labour supply. Our analysis covers both the case where factor prices do not react to endowment changes - as in the Heckscher-Ohlin model - and the case where they do. Results are sensitive to this distinction, thereby emphasizing the benefit of employing a general production structure that encompasses both cases.
Fuel Poverty: Evidence from Housing Perspective
2016
The literature has traditionally approached fuel poverty as a result of poverty. Fuel poor are those households who cannot pay fuel bill and have to live in cold ambient, with grave effects on their health. As fuel poverty is actually considered in poverty’s analysis, there is little discussion about whether homeowners (who own housing wealth and, theoretically, cannot be poor) could suffer this problem. This paper assesses fuel poverty amongst Spanish households. It deeps on how poverty situations triggers fuel poverty in the context of housing and discusses whether or not housing tenure causes fuel poverty due to housing characteristics, those usually evaluated as poverty component. The p…
Evoluzione dei valori fondiari e politiche Dynamics of land values and agricultural policies
2013
The 42nd Meeting of the Research Centre for Appraisal and Land Economics (Ce.S.E.T.) focused its attention on land markets, given that the new Common Agricultural Policy, which has proposed strong reforms that have been much discussed, has arrived at an advanced stage of definition. The land market theme, although little contemplated in economic evaluations of agricultural policies, is an essential topic for the understanding of development processes, especially after the economic crisis linked to real estate appraisal. The hypotheses of totally decoupling direct aid, adopting undifferentiated payments per hectare, and introducing a bonus for "greening", as contemplated in the CAP reform pr…
Trunk Packing Revisited
2007
For trunk packing problems only few approximation schemes are known, mostly designed for the European standard DIN 70020 [6] with equally sized boxes [8, 9, 11, 12]. In this paper two discretized approaches for the US standard SAE J1100 [10] are presented, which make use of different box sizes. An exact branch-and-bound algorithm for weighted independent sets on graphs is given, using the special structure of the SAE standard. Another branch-and-bound packing algorithm using linear programs is presented. With these algorithms axis-oriented packings of different box sizes in an arbitrary trunk geometry can be computed efficiently.
The factor content of regional bilateral trade: The role of technology and demand
2011
Abstract The Heckscher–Ohlin–Vanek (HOV) model in its strict form has been strongly rejected by the data. Relaxing some assumptions of the standard HOV model is key to find improvements in its performance. We apply the Davis and Weinstein (2001) methodology to analyse the validity of the HOV model using regions rather than countries. Surprisingly, our results using data for 17 Spanish regions are similar to theirs with international data for OECD countries. Accounting for technological differences improves the predictive capacity of the factor proportions model and including trade costs and geography reduces significantly the missing trade problem. However, relaxing the assumption of factor…
Disaggregate Real Exchange Rate Behaviour
2007
In this paper, we re-examine the “PPP Puzzle” using sectoral disaggregated data. Specifically, we first analyse the mean reversion speeds of real exchange rates for a number of different sectors in eleven industrial economies and then focus on relating these rates to variables identified in the literature as key determinants of CPI-based real exchange rates, namely: the trade balance, productivity and the mark up. In particular, we seek to understand to what extent the relationships existing at the aggregate level are borne out at the disaggregate level. We believe that this analysis can help shed light on the PPP puzzle.
Deficit sustainability, and monetary versus fiscal dominance: The case of Spain, 1850–2000
2014
Abstract In this paper, we provide a test of the sustainability of the Spanish government deficit over the period 1850–2000, emphasizing the role played by monetary and fiscal dominance in order to get fiscal solvency. Since the condition of fiscal solvency was satisfied, government deficit would have been sustainable along the sample period. In addition, the whole period can be characterized as one of fiscal dominance.
The shadow price of foreign exchange with minimum wages
2001
Abstract This note derives the shadow price of foreign exchange in a small open economy with minimum wage unemployment under tariffs, quotas and voluntary export restraints. The analysis is conducted in a dual general equilibrium framework with many goods and factors.
Using time-varying transition probabilities in Markov switching processes to adjust US fiscal policy for asset prices
2013
This paper tests for nonlinear effects of asset prices on the US fiscal policy. By modeling government spending and taxes as time-varying transition probability Markovian processes (TVPMS), we find that taxes significantly adjust in a nonlinear fashion to asset prices. In particular, taxes respond to housing and (to a smaller extent) to stock price changes during normal times. However, at periods characterized by high financial volatility, government taxation only counteracts stock market developments (and not the dynamics of the housing sector). As for government spending, it is neutral vis-a-vis the asset market cycles. We conclude that, correcting the fiscal balance and, notably, the rev…