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Second-best tax policy in a growing economy with externalities
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2006-10)
This paper investigates the exploitation of environmental resources in a growing economy within a second-best scal policy framework. Agents derive utility from two types of consumption goods one which relies on an ...
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 ...
A sensitivity study of bias and variance of k-fold cross-validation in prediction error estimation
(2009)
In the machine learning field the performance of a classifier is usually measured in terms of prediction error. In most real-world problems, the error cannot be exactly calculated and it must be estimated. Therefore, it’s ...
Admissible Hierachic Sets
(2005-05)
In this paper we present a solution concept for abstract systems called the admissible hierarchic set. The solution we propose is a refinement of the hierarchic solution, a generalization of the von Neumann and Morgenstern ...
The Stability of the Roommate Problem Revisited
(2007-09)
The lack of stability in some matching problems suggests that alternative solution concepts to the core might be applied to find predictable matchings. We propose the absorbing sets as a solution for the class of roommate ...
The Supercore for Normal Form Games
(2003-10)
We study the supercore of a system derived from a normal form game. For the case of a finite game with pure strategies, we define a sequence of games and show that the supercore of that system coincides with the set of ...
Turnout Intention and Social Networks
(2009-06)
How can networking affect the turnout in an election? We present a simple model to explain turnout as a result of a dynamic process of formation of the intention to vote within Erdös-Renyi random networks. Citizens have ...
Consumption-Leisure Trade-offs and Persistency in Business Cycles
(2007)
This paper studies whether nonseparabilities between consumption and leisure may help to explain the observed persistence in GNP growth. We consider an extended version of Lucas' (1988) human capital investment model that ...
Inequality for Wage Earners and Self-Employed: Evidence from Panel Data
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-03)
In this paper we study the evolution of income inequality for employees and self-employed workers. We highlight the importance of separately analyze these different sources of income to gain a broader understanding of ...
The Black Box of Mutual Fund Fees
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)
This paper re-examines the determinants of mutual fund fees paid by mutual fund shareholders for management costs and other expenses. There are two novelties with respect to previous studies. First, each type of fee is ...