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Population age structure and private consumption in Spain
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
In this paper we study the effect of population age distribution upon private consumption expenditure in Spain from 1964 to 1997 using aggregate data. We obtain four main results. First, changes in the population pyramid ...
Should Fiscal Policy be different in a Non-Competitive Framework?
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper studies if imperfections in the labor market justify a different fiscal policy. We present a dynamic general equilibrium model with a Ramsey planner deciding about public spending, labor taxes and debt. Two ...
Optimal Fiscal Policy with Rationing in the Labor Market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper characterizes the optimal fiscal policy when it is assumed that there exists a minimum wage below which no worker can be hired. The rigidity due to the minimum wage legislation can lead to equilibria in which ...
Censored Translations in Franco’s Spain: The TRACE Project — Theatre and Fiction (English-Spanish)
(Association Canadienne de Traductologie, 2002)
[EN] This article explores whether translational phenomena that are particular to censoring societies, such as Franco’s Spain, exist and, if so, whether they are exclusive to this type of recipient context. By using data ...
Dietary fat source regulates ob gene expression in white adipose tissue of rats under hyperphagic feeding
(Cambridge University Press, 2002-05)
This work was designed to investigate the effect of different lipid sources on ob gene expression and serum leptin levels in rats with two different feeding protocols: (1) free access to food; or (2) energy-controlled ...
Understanding the ex-ante cost of liquidity in the limit order book: A note
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-01)
This paper estimates a new measure of liquidity costs in a market driven by orders. It represents thecost of simultaneously buying and selling a given amount of shares, and it is given by a single measure of ex-ante liquidity ...
Asset pricing and systematic liquidity risk: an empirical investigation of the Spanish stock market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
Systematic liquidity shocks should affect the optimal behavior of agents in financial
markets. Indeed, fluctuations in various measures of liquidity are significantly
correlated across common stocks. Accordingly, this ...
Cyclical Features of Uzawa-Lucas Endogenous Growth Model
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the cyclical properties of a generalized version of Uzawa-Lucas endogenous growth model. We study the dynamic features of different cyclical components of this model characterized by a variety of ...
Explosive Hyperinflation, Inflation Tax Laffer Curve and Modelling the use of Money
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the existence of an inflation tax Laffer curve (ITLC) in the context of two standard optimizing monetary models: a cash-in-advance model and a money in the utility function model. Agents’ preferences ...
Markov Switching Risk Premium and the term structure of interest rates. Empirical evidence from US post-war interest rates
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-04)
This paper considers the basic present value model of interest rates under rational expectations with two additional features. First, following McCallum (1994), the model assumes a policy reaction function where changes ...