This paper analyses the relationship between inflation and relative price variability, in the direction of the latter, in two countries with very different inflationary experiences: Argentina and Spain. To address this objective, using disaggregated price indexes (the Wholesale Price Index for...

This article investigates the degree of persistence of different inflation rates for the Spanish economy using the Consumer Price Index (CPI) for the aggregate as well as for the regions, provinces and eight groups of goods and services, in addition to the Producer Price Index (PPI) for the...

This article proposes empirical tools to account for the role of heterogeneities in the labour matching process, and shows an application to the Andalusian labour market which relies on individual data. The central idea of the paper is that the labour market is segmented, and this segmentation...

Corruption is harmful for public finances and appears closely related to fiscal deficits. We open a new avenue in addressing the effects of corruption on public deficits through fiscal decentralization. For a sample of 31 OECD countries over the period 1986–2010, we find that fiscal...

This paper tests the hysteresis hypothesis for the unemployment rate of the Spanish regions over the period 1976–2004. For that purpose, we employ a large battery of recently developed panel tests which explicitly control for cross-sectional correlation in addition to the panel stationarity...

The methodology applied in this article to the Spanish economy is based on Ball and Mankiw (1995). These authors assume that a good proxy for supply shocks is the third moment of the price changes distribution. The main data used are the monthly consumer price indexes of each region,...

This paper investigates the hypothesis of a unit root in inflation for 13 OECD countries over the period 1957-2005, taking into account cross-sectional dependence and multiple mean shifts. We conduct unit root testing with the more powerful unit root tests with cross-dependence proposed by Smith...

This paper focuses on the role of imperfect competition as a microfoundation for fiscal policy effectiveness. The seminal papers in this area conclude that the higher the degree of monopoly power the higher the value of fiscal policy multipliers. However, this result has been criticised because...