The Subdominant Eigenvalue of a Large Stochastic Matrix

Using intuition and computer experimentation, Brady conjectured that the ratio of the subdominant eigenvalue to the dominant eigenvalue of a positive random matrix (with identically and independently distributed entries) converges to zero when the number of the sectors tends to infinity. In this paper, we discuss the deterministic case and, among other things, prove the following version of this conjecture: if each entry of the matrix deviates from 1/n by at most θ/n^1+е, then the modulus of the subdominant root is at most θ/n^е where θ and ε are arbitrary positive real parameters.     

Economic inequality in Spain: the european community household panel dataset

This article uses data from the 1998 European Community Household Panel to study economic inequality in Spain. It reports data on the Spanish distributions of income, labor income, and capital income, and on related features of inequality, such as age, employment status, educational attainment, and marital status. It also reports data on the income mobility of Spanish households, and data on income inequality in other European countries and in the US. We find that income, earnings, and, especially, capital income are very unequally distributed in Spain and that economic inequality in Spain is well above the European average.     

On Combining Partial and Incompatible Information in E-negotiation and E-arbitration

The complexity of the problems to be addressed in an e-democracy framework and the variety of involved stakeholders, with different backgrounds, views and access to information sources, lead us to consider the case in which an e-negotiation should be performed among subjects who have partial, sometimes incompatible, information and can hardly gather to discuss issues together, under the supervision of a facilitator. We propose a statistical method which addresses the issue of partial and incompatible information, merging it and then using it to get a final decision, possibly in an automatic way, through processes of e-negotiation and e-arbitration.      

Validating a model for forecasting the project termination phase using existing business cases

Studies on project failure and its subsequent termination phase are scarce; studies that use a quantitative approach are almost nonexistent. This is most likely because organizations usually do not collect data on project failures, are unable to share such data, or a combination of both. The contribution of this article is twofold: to (1) showcase a methodology to validate a model using actual business cases and (2) validate a project termination phase forecast model (PTPFM) using the methodology. The model is validated through four business cases, comparing the results from the model to the decisions made in reality.     

The Value of Information: The Impact of European Union Bank Stress Tests on Stock Markets

International Advances in Economic Research - We tested whether the 2010, 2011 and 2014 European Union bank stress tests produced useful and real information to the market. Using an augmented...     

On the contribution of eco-innovation features to a circular economy: A microlevel quantitative approach

The circular economy (CE) and eco-innovation (EI) are two concepts deemed instrumental in achieving a sustainable transition. They have been proposed in the academic literature and by practitioners and have acquired very high public policy relevance, being endorsed by policymakers and ultimately leading to regulations supporting them. It has been argued that both concepts are compatible and interrelated and that EI is instrumental in achieving the CE. However, little is known about how different EI features contribute to the CE at the microlevel. This article tries to cover this gap. Its aim is to assess and quantify the causal relationship between different EI features and the CE with the help of a unique dataset of small- and medium-sized firms in Spain and an econometric analysis. Our results show that only systemic EIs contribute to a global CE, whereas other EI types such as component additions or small changes in existing production processes could even be barriers to high levels of circularity. It is found out that technological novelty is not relevant for reaching the CE. The results support the understanding of how EIs enable a transition to the CE. Care should be taken not to promote incremental EIs that do not only achieve low (or no) circularity but that effectively lock-in the economic system in solutions that entail a barrier to the achievement of high-level circularity.     

Firm size and productivity from occupational choices

Small Business Economics - We model the distributions of firm sizes and of firms’ total factor productivity (TFP) as outcomes of a market equilibrium from the occupational decisions of...     

Crecimiento económico,flexibilización laboral y calidad del empleo en Colombia de 2002 a 2011

Tras analizar el mercado de trabajo colombiano entre 2002 y 2011, los autores constatan una mejora sustancial de las oportunidades de empleo, junto con el aumento del empleo atípico. Exploran cómo ello afectó a la calidad del empleo mediante un indicador compuesto basado en el método de componentes principales categóricos, y concluyen que hubo una leve mejora generalizada, debida al aumento de los ingresos y de la seguridad social y al menor subempleo por horas, que benefició sobre todo a las trabajadoras independientes. Ello deja todavía un déficit cualitativo importante, que requiere políticas de estímulo de la institucionalidad y la productividad laborales y de la inversión.