¿Conduce la flexibilización a menor desempleo? Un análisis empírico del mercado laboral español

En España se llevaron a cabo dos grandes reformas laborales (2010 y 2012) bajo el supuesto de que la flexibilización del mercado laboral y la descentralización de la negociación colectiva conducirían mecánicamente a reducir el desempleo (hipótesis flexibilizadora). Este artículo destaca la centralidad de la demanda y de la composición sectorial de la economía para explicar el comportamiento de esta variable (hipótesis estructural). Mediante un análisis con datos de panel a escala subnacional, evaluamos la capacidad de ambas hipótesis para explicar la evolución del desempleo. Nuestros resultados cuestionan los supuestos de la hipótesis flexibilizadora y subrayan la importancia de los factores cíclicos y estructurales.     

Intensive Horticulture in Almería (Spain): A Counterpoint to Current European Rural Policy Strategies

Much of the recently published literature in Europe on rural development tends to focus on de‐agrarianization and multifunctionality in rural livelihoods as a way to generate employment and incomes. This paper analyses the case of Almería (Spain), an exception to this general rule. Almería, once one of the poorest Spanish provinces, has become the most affluent province in Andalusia and ranks now about average in Spain. This fast growth rate was achieved thanks to the development of intensive horticulture and its processes of change from the 1970s to the present day, due to the factors reviewed in the present study. This success story is a counterpoint to current European rural development strategies that consider the promotion of agriculture a mistake and advocate instead the economic diversification of farms.     

Integrating frequent flyer programs in multilateral airline alliances

Forming branded alliances has become a common strategy in the airline industry. These can be defined as ‘multilateral alliances’ as opposed to bilateral alliances. Limited attention has been paid to assessing the impact of multilateral alliances on complex sub-networks, such as distribution networks, cargo alliances and frequent flyer programs. These sub-networks are ‘derivative networks’ within multilateral alliances. These derivative networks create several dilemmas as they evolve causing airline managers to confront fundamental questions regarding harmonization, conflict resolution, and organizational structure.     

American option valuation using first-passage densities

This paper explores the advantages of pricing American options using the first-passage density of a Brownian motion to a curved barrier. First, we demonstrate that, under this approach, the exact computation of the optimal boundary becomes secondary. Consequently, a simple approximation to the optimal boundary suffices to obtain accurate prices. Moreover, the first-passage approach tends to give more accurate prices than the early-exercise-premium integral representation. We present two ways of implementing the approach. The first is based on an exact representation of the first-passage density. The second exploits the method of images, which gives us a family of barriers with first-passage densities given in closed form. Both methods are very easy to implement and give accurate prices. In particular, the images-based method is extremely accurate.     

A Class of Bonferroni Inequality Indices

The purpose of this paper is to propose a family of inequality measures obtained from the Bonferroni curve as a distribution function. This family characterizes the income distribution, given the mean income, as well as other families considered in this paper. Although all of the families show a clear formal analogy and are mutually determined, their elements include very different value judgments for measuring inequality and social welfare. Normative aspects are analyzed by means of the preference distributions associated to the indexes. This allows us to compare the indexes, and in some cases, rank them according to their degree of inequality aversion, as well as studying their behavior regarding different principles of transfer.