Of utmost importance is improving our understanding of the complex interactions between: (a) the epidemiology that describes the evolution of the coronavirus/COVID-19; and (b) the social and economic choices of individuals. Towards this end, we have developed a model that captures some salient elements of this interaction. The parameters of the model are calibrated [...]

Although no one needs to be convinced of the importance of climate change, it never hurts to remember that Spain, due to its geographical location and climate, is one of countries most exposed this threat. The European Union has set itself the goal of reaching climate neutrality by 2050. If this goal is achieved, [...]

The yield curve of sovereign bonds reflects the different costs of debt funding for governments across maturities. So, for instance, long-term funding tends to be more costly than short-term funding, given that long-term risks are usually higher than short-term risks. Factors influencing the yield curve have been widely studied, and they affect the level, [...]

In recent years, several studies have retrospectively measured the evolution of wealth inequality in developed countries, finding a common increasing trend since the 1980s in the US and in the major economies of Western. Over the same period, the share of inheritance and gifts (intergenerational transfers) in aggregate wealth has also been found to [...]

If capital-to-labour ratios are low in poor countries and returns high, as the standard one-sector growth model predicts, why doesn’t more capital flow from rich to poor countries? By making two reasonable adjustments to a naïve measure of the marginal product of capital (MPK), Caselli and Feyrer (2007) find that the cross-country MPK is [...]

We show that both the ability of educated and non educated workers have sizable effects on the incentives of firms regarding the type of vacancies they open and also regarding the incentives of educated workers as of where to search for a job. Therefore education outcomes are relevant to understand the overeducation phenomena observed in the labor [...]