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Munich RePEc Personal Archive
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35654 Publications
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  • Transferencias y Condiciones: Efectos no previstos del Programa JUNTOS

    This is the third policy brief from Young Lives about Juntos, the conditional cash transfer programme in Peru which aims, in the short term, to reduce poverty by making a payment of 100 nuevos soles per month to each participating household if they comply with certain conditions intended to improve children’s health and education. The brief describes the conditionalities employed by Juntos and finds there are also some unintended impacts for beneficiary families. First the authors review ...

    Back to the Sixties: A Note on Multi-Primary-Factor Linear Models with Homogeneous Capital

    This paper extends Bruno's (1967) one capital good two-sector growth model with discrete technology by allowing for multiple primary factors of production. While the existence of an optimal steady state is established for any positive rate of discount, an example in which three "modified golden rules" exist shows that the optimal steady state is not necessarily unique. The extended model provides a simple exemplification of the more general principle that the presence of multiple primary fact...

    The Impacts of the 2008 and 2011 Crises on the Japan REIT Market

    This empirical paper studies the fundamental value of the J-REIT price from impact of the 2008 financial crisis and the 2011 Japan earthquake between May 2003 and December 2014. The results show that the fundamental value of the J-REIT is determined only by the real estate price in the long-run. The short-run deviations from the fundamental value of the J-REIT price occur during the 2008 crisis and the 2011 earthquake because the trading volume by foreigners exceeded 50%. The deviations from ...

    Liberalismo, legge, normatività. Per una rilettura epistemologica del dibattito Croce-Einaudi

    Italian abstract: In questo saggio intendo rileggere, disarticolare e problematizzare il dibattito Einaudi-Croce sul rapporto tra liberismo e liberalismo muovendo da una prospettiva epistemologica lato sensu costruttivista, volta a mostrare l’insufficienza esplicativa della dicotomia ‘empirismo vs idealismo’ quale chiave di lettura delle loro reciproche incomprensioni. Pur muovendo da problemi diversi, l’idealismo e l’empirismo (e poi l’empirismo logico) sono accomunati dalla credenza di a...

    Retail Channel Management in Consumer Search Markets

    We study how a monopoly manufacturer optimally manages her contractual relations with retailers in markets with consumer search. By choosing wholesale prices, the manufacturer affects the degree of competition between retailers and the incentives of consumers to search. We show that depending on whether or not the manufacturer can commit to her price decisions and on the search cost, the manufacturer may be substantially better off choosing her wholesale prices not independent of each othe...
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