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CHANGING SCHOOL AFTER THE GLOBAL RECESSION : THE CASE OF LATVIA
2015
Latvia demonstrates common trends with the majority of the countries affected by the recession, as well as some peculiarities in overcoming the impact of the global economic and financial recession on education mainly due to an unbelievable austerity. Education in this country has suffered greatly, and its damage is adequate to the 67% of the budget cuts between 2008 and 2011 (IZM, 2011). The article deals with the school improvement after the recession, recent implementation of innovations to cover the damages and catch up with the ideas of the Next Generation learning, to supply schools with the appropriate curricula and meeting the learners needs for their individual development and abil…
Adam Smith on Monopoly Theory. Making good a lacuna
2014
This article analyses Adam Smith's views on monopoly by focusing on Book IV and V of The Wealth of Nations. It argues that the majority of scholars have assessed Smith's analysis of monopoly starting from premises different from those, actually though implicitly, used by Smith. We show that Smith makes use of the word 'monopoly' to refer to a heterogeneous collection of market outcomes, besides that of a single seller market, and that Smith's account of monopolists' behaviour is richer than that provided by later theorists. We also show that Smith was aware of the growth-retarding effect of monopoly and urged State regulation. © 2014 Scottish Economic Society.
Integration and arbitrage in the Spanish financial markets: An empirical approach*
2000
Several authors have introduced different ways to measure integra-tion between financial markets. Most of them are derived from thebasic assumptions about asset prices, like the Law of One Price or ...
The Classical Notion of Competition Revisited
2013
This article seeks to fill a lacuna within classical economics concerning the process of market price determination in situations of market disequilibrium. To this aim, first we distinguish the classical notion of free competition from the Walrasian notion of perfect competition and we argue that the latter is beset with some theoretical difficulties alien to the former. Second, we reconstruct in some detail Smith’s and Marx’s views concerning market price determination and show that Marx’s extensive use of metaphors and numerical examples foreshadows the modern taxonomy of buyers’ market, sellers’ market, and mixed strategy equilibrium in the capacity space of a standard Bertrand duopoly m…
Second-best taxation for a polluting monopoly with abatement investment
2018
This paper characterizes the optimal tax rule to regulate a polluting monopoly when the firm has the possibility of investing in an abatement technology and the environmental damages are caused by a stock pollutant. The optimal policy is given by the stagewise feedback Stackelberg equilibrium of a dynamic policy game between a regulator and a monopolist. The regulator playing as the leader chooses an emission tax to maximize net social welfare, and the monopolist acting as the follower selects the output and the investment in abatement technology to maximize profits. We find that the optimal tax has two components. The first component is negative and equal to the gap between the marginal re…
Strategic sharing of a costly network
2012
We study minimum cost spanning tree problems for a set of users connected to a source. Prim’s algorithm provides a way of finding the minimum cost tree mm. This has led to several definitions in the literature, regarding how to distribute the cost. These rules propose different cost allocations, which can be understood as compensations and/or payments between players, with respect to the status quo point: each user pays for the connection she uses to be linked to the source. In this paper we analyze the rationale behind a distribution of the minimum cost by defining an a priori transfer structure. Our first result states the existence of a transfer structure such that no user is willing to …
The effects of monetary policy on income and wealth inequality in the U.S. Exploring different channels
2020
We assess the effects of monetary policy shocks on income and wealth inequality through direct inequality measures and by analyzing several transmission channels explored in recent literature. Furthermore, we analyze two additional channels: the Housing and the Fiscal channels. The methodology adopted is a Bayesian proxy SVAR using a high-frequency identification based on the external instruments approach. Our own policy shocks are constructed for this purpose. The results show that an expansionary monetary policy shock does not have a significant effect on income inequality due to the existence of opposite channels, whereas it increases wealth inequality mainly through the portfolio channe…
Trends Regarding the Evolution of the Romanian Pension System
2018
Abstract The pension system, together with the social assistance services form the social security system is recognized worldwide throughout the adoption of the Universal Declaration of Human Rights for the purpose of insured person compensation for damages regarding some inherent risks as: permanent or temporary inability of work, old age or unemployment. The main objectives of a pension system are decreasing poverty regarding the lower income persons throughout the conditions of limitation of the working capacity which are financially vulnerable. In this article we provide a qualitative and quantitative overview regarding the Romanian pension system structure and mechanism. The conclusion…
Adam Smith and the family
2008
This paper examines Adam Smith’s vision of family life and the role of the family in society as it stems from the Theory of Moral Sentiments. We first discuss textual evidences of Smith’s vision of gender differences and of the relationships between the sexes. Then we turn to TMS’s analysis of marriage and family life, exploring the importance of sentiments in strengthening family bonds and in fostering individuals’ moral education. Then we enlarge our perspective, considering Smith’s view on the role of the family within society, especially as market and non market relationships are concerned. Finally, we focus on Smith’s vision of the possible threats which life in Commercial societies ma…
El artículo 47 de la Carta de los Derechos Fundamentales de la Unión Europa sobre el derecho a la tutela judicial efectiva y a un juez imparcial
2022
En esta publicación, os comento el artículo 47 de la Carta de los Derechos Fundamentales de la Unión Europa sobre el derecho a la tutela judicial efectiva y a un juez imparcial. In this publication, I comment you the article 47 of the Charter of Fundamental Rights of the European Union on the right to an effective remedy and to a fair trial.