Search results for "Welfare"
showing 10 items of 921 documents
The long‐term relationship between economic development and regional inequality: South‐West Europe, 1860–2010
2019
This paper analyses the long‐term relationship between regional inequality and economic development. Our data set includes information on national and regional per capita GDP for four countries: France, Italy, Portugal and Spain, compiled on a decadal basis for the period 1860–2010. Using parametric and semiparametric regressions, our results confirm the rise and fall of regional inequalities over time although in recent decades they are on the rise again. Finally, we identify structural change as being a significant transmission mechanism of the inverted‐U relationship. The arrival of technological shocks, beginning during the onset of industrialization, and the transition from agrarian to…
Banking Competition, Collateral Constraints and Optimal Monetary Policy
2013
We analyze optimal monetary policy in a model with two distinct financial frictions. First, borrowing is subject to collateral constraints. Second, credit flows are intermediated by monopolistically competitive banks, thus giving rise to endogenous lending spreads. We show that, up to a second order approximation, welfare maximization is equivalent to stabilization of four goals: inflation, output gap, the consumption gap between constrained and unconstrained agents, and the distribution of the collateralizable asset between both groups. Following both financial and non-financial shocks, the optimal monetary policy commitment implies a short-run trade-off between stabilization goals. Such p…
Teorías monetarias poskeynesianas: una aproximación de la escuela francesa
2009
Este texto es una presentación sintética de las características esenciales de las teorías monetarias poskeynesianas. Deseamos mostrar que, en el marco institucional actual, éstas constituyen una herramienta útil para aprehender el funcionamiento de nuestras economías monetarias. Al descomponer las relaciones entre las esferas financiera y productiva, los poskeynesianos justifican la necesidad de promover una regulación monetaria y financiera. En el análisis se ve con claridad que la política monetaria no debe estar exclusivamente dedicada a la lucha contra la inflación, además de que el gran desentendimiento del Estado no deja exenta de riesgos a la estabilidad del sistema en su totalidad.
Unconventional monetary policy reaction functions: evidence from the US
2020
Abstract We specify unconventional monetary policy reaction functions for the Fed using linear and nonlinear econometric frameworks. We find that nonstandard policy measures are largely driven by the dynamics of inflation and the output gap, with the effect being particularly strong during QE rounds. Moreover, we uncover the presence of asymmetry and regime dependence in central bank’s actions since the global financial crisis, especially concerning the response of the term spread and the shadow short rate to the growth rate of central bank reserves. From a policy perspective and given the lack of a systematic response of monetary policy to asset price growth in nonstandard times, our findi…
Wage Bargaining Centralization And Macroeconomic Performance: An Experimental Approach
2001
This paper experimentally analyzes the effect of wage bargaining centralization (WBC) on macroeconomic performance. Our theoretical benchmark comes from that developed by Cukierman and Lippi (1999) to investigate the joint effects of monetary policy and labor market institutions on unemployment and inflation. We focus on the implications of two well known effects related to the degree of WBC: the competitive effect and the strategic effect. To do so we established a simple wage setting mechanism based on the existence of assorted levels of WBC measured by the number of unions in the labor market. In the three control treatments, unions' welfare and monetary rewards depend only on unemployme…
Robot acceptance model for care (RAM-care) : A principled approach to the intention to use care robots
2020
Robots are emerging in welfare services, and organizations require information on whether novel technologies are approved among staff. On the basis of technology acceptance theories, this study proposes a model that adds a principled approach to the intention to use care robots. Data of 544 professionals with care robot experience were collected. The use intention was predicted by usefulness, enjoyment, social influence, and attitude. Respondents who found robots useful and accepted by their colleagues were more likely to view robot use as consistent with their personal values. The care robot acceptance model supports consideration of the profession-specific context in robotization. peerRev…
Privacy in Social Network Sites
2011
Are we running out of privacy? Nowadays, for example, we are concerned about whether the maintenance of a private sphere in online environments has become a luxury commodity (Papacharissi 2009). Questions of this kind are justified as online communication plays an increasingly important role in people’s everyday life (cf., e.g., Lundby 2009). While it seems exaggerated to stigmatize today’s youth as “communication junkies” (Patalong 2010), online conversations are increasingly becoming a functional equivalent to face to face communication (Beer 2008). However, some significant differences between online and “offline” communication remain. Face to face communication may remain largely intima…
The relational properties of collaborative networks and the generation of scientific knowledge: a question of size or of balance?
2014
Este es un artículo de acceso abierto distribuido bajo los términos de la licencia Creative Commons Attribution-Non Commercial (by-nc) Spain 3.0.
¿Está relacionada la eficiencia en el servicio urbano de agua con la titularidad del gestor?
2015
El presente estudio tiene como objetivo realizar una revisión de la literatura acerca de qué forma de titularidad de los servicios de agua urbana, pública o privada, se muestra superior en términos de eficiencia. Con el fi n de arrojar luz sobre esta cuestión hemos realizado, en primer lugar, un análisis de la situación de la industria a nivel internacional. A continuación se ofrece una exposición de los principales argumentos a favor y en contra de la privatización para finalizar con el examen de la evidencia empírica al respecto. La revisión efectuada no nos permite concluir que alguna de las formas de gestión se muestre indiscutiblemente superior en términos de eficiencia. Sin embargo, e…
Pricing and infrastructure fees in shaping cooperation in a model of high-speed rail and airline competition
2020
Abstract This paper studies the effects of cooperation in a hub-and-spoke network with high-speed rail and airline competition. The distinctive elements of our analysis are the consideration of: (i) per-passenger airport and rail infrastructure fees; (ii) mixed bundling pricing by partners, and (iii) an airline duopoly in the international market. We show that partners fix the cheapest bundle price of the combined trip, that non-allied operators respond by decreasing the prices per link, and that connecting traffic increases. Per-passenger fees significantly affect the price differences following cooperation. An empirical application confirms that it is privately profitable and that welfare…