Under general conditions, it has been proved that free trade improves the welfare of open economies. However, the conditions to attain the free trade equilibrium are non trivial: when the productive process is planned, industries do not know the price that will prevail, while the production is...

This paper shows the dynamic effects of the reform of the Spanish social security pension system on the pensions received by one of the most vulnerable groups of the population, namely, widows. We undertake a duration analysis to account for the effects of reform over time. We study the effects...