The Effects of Corruption and Seigniorage on Growth and Inflation

In the last two decades, cases of corruption have been unveiled in different countries, raising public awareness and reinforcing a trend in which society expects more from their leaders. Our objective in this paper is to examine the effects of corruption and seigniorage on inflation and growth rates. The model used in this article is an extension of the model used by Huang and Wei (2006). We find interesting results and one of them is that, under some conditions, corruption has a positive impact on the growth rate. JEL classification : D73, E52, E58, E62. Keywords : Corruption; Fiscal Policy; Growth; Monetary Policy; Seigniorage.

Generalized three-sided assignment markets: consistency and the core

A class of three-sided markets (and games) is considered, where value is generated by pairs or triplets of agents belonging to different sectors, as well as by individuals. For these markets we analyze the situation that arises when some agents leave the market with some payoff To this end, we introduce the derived market (and game) and relate it to the Davis and Maschler (1965) reduced game. Consistency with respect to the derived market, together with singleness best and individual anti-monotonicity axiomatically characterize the core for these generalized three-sided assignment markets. These markets may have an empty core, but we define a balanced subclass, where the worth of each triplet is defined as the addition of the worths of the pairs it contains. Keywords: Multi-sided assignment market, Consistency, Core, Nucleolus. JEL Classification: C71, C78

The Determinants of Entrepreneurship in Developing Countries

We address the question of what determines entrepreneurship in developing countries. In particular, because of the influence that this may have on the design of entrepreneurship policies, our main concern is whether the determinants of entrepreneurship are the same and/or have the same impact in developed and developing countries. To this end, we discuss the arguments put forward in the literature in support of the existence of differences in the determinants of entrepreneurship between developed and developing countries. We also analyse the results found in empirical studies on the determinants of formal firm entry (following the World Bank, our proxy of entrepreneurship) in developing countries and compare these results with those typically found in developed countries. Our main conclusion is that policy makers in developing economies should be careful when using evidence from developed countries to design entrepreneurship-promoting policies. Key words: entrepreneurship, developing countries. JEL: O1; O12; L26; M13

Agglomeration vs. dispersion of economic activities in the districts of Paris

The spatial distribution of economic activity has often been analysed for wide geographical areas such as regions or metropolitan areas, but it has rarely been subject to microanalysis, especially outside the U.S. In this paper we focus on what happens within a large European city (Par is), and analyse how the industrial composition of its districts differs and how these districts evolve. We also analyse suburbanization process for both residents and the workforce and provide empirical evidence about the changing roles of the core and intramuros periphery. Keywords: agglomeration, suburbanization, Paris, micropolitan analysis

Idiosyncratic Volatility Puzzle: Influence of Macro-Finance Factors

In this paper, we scrutinize the cross-sectional relation between idiosyncratic volatility and stock returns. As a novelty, the idiosyncratic volatility is obtained by conditioning upon macro-finance factors as well as upon traditional asset pricing factors. The macro-finance factors are constructed from a large pool of macroeconomic and financial variables. Cleaning for macro-finance e§ects reverses the puzzling negative relation between returns and idiosyncratic volatility documented previously. Portfolio analysis shows that the effects from macro-finance factors are economically strong. The relation between idiosyncratic volatility and returns does not vary with the NBER business cycles. The empirical results are highly robust. Keywords: Idiosyncratic volatility puzzle; Macro-finance predictors; Factor analysis; Business cycle. JEL Classifications: G12; G14

Creación de un paquete de turismo étnico en Guatemala

Este trabajo trata sobre la creación de un producto de turismo étnico, concretamente un paquete vacacional, y para ello nos situaremos en una agencia de viajes hipotética como promotora del proyecto. De esta manera nos posicionaremos en el mercado como ofertantes y podremos determinar los recursos técnicos, humanos y económicos, con los que hacer frente al proyecto

Model per a la creació d'un itinerari cultural : seguint els passos de Mossé Ben Nahman

El present estudi analitza una part de la bibliografia existent sobre els itineraris culturals, recollint les aportacions de major rellevància i elaborant un model propi per a la elaboració d’aquests. Fer notori el fet que s’afegeixen també nocions que orienten a la seva gestió i control. Tanmateix, es fa una proposta d’itinerari basada en un personatge històric, Mossé Ben Nahman, i el seu lligam amb les ciutats de Girona i Barcelona. Destacar la rellevància de les temàtiques tractades, ja que ambdues es troben presents en estudis i projectes en curs, esdevenint subjectes en període d’expansió i anàlisi

Moventaa : Aplicación móvil para la gestión y control de ventas para vendedores

Aplicación desarrollada bajo tecnología Android destinada a la gestión y control de ventas de productos para vendedores.

Is Self-employment a Way to Escape from Skill Mismatches?

During the last two decades, skill mismatches have become one of the most important issues of policy concern in the EU (European Commission, 2008). Hence, the literature has stressed the necessity to reduce skill mismatches. We contribute to this literature by analyzing the impact of the transition from salaried employment to self-employment on self-reported skill mismatches. To do so, we resort to the European Community Household Panel (ECHP) covering the period 1994–2001. Using panel data, we track individuals over time and measure their self-reported skill mismatch before and after the transition. Our empirical findings indicate not only that the average self-employee is less likely to declare being skill-mismatched but also that those individuals who transit from salaried employment to self-employment reduce their probability of skill mismatches after the transition. Keywords: Self-employment, skill mismatches, salaried employment. JEL Classification: L26, J24, B23 __________________________

Enjoying cooperative games: The R package GameTheory

This paper focuses on cooperative games with transferable utility. We propose the computation of two solutions, the Shapley value for n agents and the nucleolus with a maximum of four agents. The current approach is also focused on conflicting claims problems, a particular case of coalitional games. We provide the computation of the most well-known and used claims solutions: the proportional, the constrained equal awards, the constrained equal losses, the Talmud and the random arrival rules. Keywords: Cooperative game, Shapley value, nucleolus, claims problem, claims rule, bankruptcy.