The authors introduce wage setting via efficiency wages in the neoclassical one-sector growth model to study the growth effects of wage inertia. They compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy without wage inertia. They show that wage inertia affects the long ...Download Now
The efficiency-equity dilemma, in conjunction with political partisan interests, has received increasing attention in attempts to explain the territorial allocation of investment. However, centralization policies that seek to introduce or reinforce the hierarchization of the political system have, as yet, to be subject to empirical analysis. The main contribution of ...Download Now
This paper provides further insights into the dynamics of exports and outward Foreign Direct Investment (FDI) flows in Spain from a time-series approach. The contribution of the paper is twofold: firstly, the existence of either substitution or a complementary relationship between Spanish outward investments and exports is empirically tested using ...Download Now
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