Optimal Minimum Wage in a Competitive Economy: an Alternative Modelling Approach

This paper analyzes whether a minimum wage can be an optimal redistribution policy when distorting taxes and lump-sum transfers are also available in a competitive economy. We build a static general equilibrium model with a Ramsey planner making decisions on taxes, transfers, and minimum wage levels. Workers are assumed to differ only in their productivity. We find that optimal redistribution may imply the use of a minimum wage. The key factor driving our results is the reaction of the demand for low skilled labor to the minimum wage law. Hence, an optimal minimum wage appears to be most likely when low skilled households are scarce, the complementarity between the two types of workers is large or the difference in productivity is small. The main contribution of the paper is a modelling approach that allows us to adopt analysis and solution techniques widely used in recent public finance research. Moreover, this modelling strategy is flexible enough to allow for potential extensions to include dynamics into the model.

An empirical comparison of the performance of alternative option pricing models

Published as an article in: Investigaciones Economicas, 2005, vol. 29, issue 3, pages 483-523.

Desarrollo y optimización de herramientas biotecnológicas para la obtención de material clonal de "Pinus radiata" D. Don

224 p. : il. col.

Zein instrumentazio eta material erosiko zenuke ingurugiroko analisiak egiten dituen laborategia muntatzeko?

Duración (en horas): Más de 50 horas. Destinatario: Estudiante y Docente

The coincidence of the kernel and nucleolus of a convex game: an alternative proof

In 1972, Maschler, Peleg and Shapley proved that in the class of convex the nucleolus and the kernel coincide. The only aim of this note is to provide a shorter, alternative proof of this result.

Introducción a la contabilidad. Material didáctico.

Material de apoyo de la asignatura “Introducción a la contabilidad”. Nivel educativo: Grado.

Design,optimization and in vivo evaluation of non-viral vectors for gene therapy. Applications in ocular disorders

227 págs.

Wage stickiness and unemployment fluctuations: an alternative approach

28 p.

Estudio de series temporales y composición química del material particulado atmosférico en distintas áreas del País Vasco

286 p. : il. col.

High voltage cathodes for Na-ion batteries: Na3V2O2x(PO4)2F3-2x system

254 p : il, graf. col.

Diseño, implementación y evaluación de material didáctico para Educación Primaria en relación a una visita a una explotación agropecuaria

105 p. : il. - Ilustraciones de Oscar Mardones Ruiz

An Alternative View of the US Price-Dividend Ratio Dynamics

As a necessary condition for the validity of the present value model, the price-dividend ratio must be stationary. However, significant market episodes seem to provide evidence of prices significantly drifting apart from dividends while other episodes show prices anchoring back to dividends. This paper investigates the stationarity of this ratio in the context of a Markov- switching model à la Hamilton (1989) where an asymmetric speed of adjustment towards a unique attractor is introduced. A three-regime model displays the best regime identification and reveals that the first part of the 90’s boom (1985-1995) and the post-war period are characterized by a stationary state featuring a slow reverting process to a relatively high attractor. Interestingly, the latter part of the 90’s boom (1996-2000), characterized by a growing price-dividend ratio, is entirely attributed to a stationary regime featuring a highly reverting process to the attractor. Finally, the post-Lehman Brothers episode of the subprime crisis can be classified into a temporary nonstationary regime.

Material berritzaile eta originalaren sorkuntza matematika lantzeko

Matematikaren ikaskuntza-irakaskuntza prozesuaren elementu nabarmen bat erabiltzen diren material eta baliabideak dira, eta horien artean unitate didaktikoak eta proiektuak. Era askotakoak daude, baina gehienak zaharkiturik daude eta ez dute ikasleen interesa eta motibazioa pizten. Umeen errealitatea, gustuak eta nahiak, eduki, kolore eta jolasekin erlazionaturik dagoen proiektu original eta berritzailea sortzea izan da lan honen helburua. Ikasleak era aktiboan barneratuko dituzte edukiak eta praktikara eraman ahal izango dituzte, ikasketa esanguratsua eta parte hartzailea bultzatuz. Horrek guztiak haurren egunerokotasuna eta interesak barne hartzen dituen proiektu honetan eragina du, emaitza positiboak jasotzerako orduan, eta beraz, ikasleen aldetik, harrera ezin hobea eskaintzen du.

Evaluation of two alternative carbon capture and storage technologies

4 p.

Alternative trajectories for decarbonizing urban transportation

4 p.