Mechanisms for sharing the common tariff revenue in a customs union have received little attention in the literature (Syropoulus, 2003). Comparative analyses show that in past and current customs unions two main mechanisms are been used: generals rules and common funds. In this paper, a new...

This paper provides new evidence on the magnitude of the elasticity of substitution between labour and capital for the Uruguayan manufacturing sector. Labour demand is derived using a right-to-manage model estimated for the period 1985-1997 using data for six industries. The evidence found...

The paper argues that a comprehensive evaluation of education reform in particular in developing countries needs considering the triangle’ quality-quantity-equity of educational policies in the short, medium and long term in a broader context than the education system itself. There is no...

This paper studies household decisions about participation and investment in risky financial markets, using a unique panel dataset of Italian households. Micro data show that households are enormously heterogeneous in their financial decisions. Most of this heterogeneity is associated with the...

A common scenario for international commerce is the existence of restrictions on free trade,even when the majority of economists agree on the benefits of it, whatever the country’s size or whatever the country’s economic development. In contexts where politicians offer different policy...

The happiness literature provides evidence on various factors, other than money, that do seem to contribute to individual happiness. As one explores the produced “happiness economics” literature, it is direct to understand the difficulty to find proper information on developing countries...

The paper developed a political economy model about endogenous trade policy along the lines of the well known contribution of Grossman and Helpman (1994). In our case the structure of the economy is standard (neoclassical trade model instead of the specific factor trade model of the original...

In this paper we analyze the recent performance, perspectives and some policy options for two public social security programs in Uruguay: pensions and unemployment insurance. We review the impact of these programs on public expenditure, including recent and expected future trends, and on income...

In this paper we study the effects of increasing imports and foreign firm supply, as a consequence of trade liberalization policies, on the innovative activities of firms in a small developing economy. This is an interesting case as very little research exists on the R&D investments of firms in...