We study the dynamic bidirectional relationship between firm R&D intensity and corporate diversification, using longitudinal data of Spanish manufacturing companies. Our empirical approach takes into account the censored nature of the dependent variables and the existence of firm-specific...

Job security provisions are commonly invoked to explain the high and persistent European unemployment rates. This belief has led several countries to reform their labor markets and liberalize the use of fixed-term contracts. Despite how common such contracts have become after deregulation, there...

The relationship between crime and immigration has been a matter of controversy in the US and around the world. This paper investigates empirically the case of Spain. From 1999 to 2009, Spain has had a large wave of immigration from different areas of the globe. At the same time, crime rates...

We explore evidence on the perceived economic value of higher education to college students in terms of their reported expected and shadow wages. Our estimates provide predictions for expected wages that are similar across gender and become closer to actual wages as students approach graduation....

Econometric reduction theory provides a comprehensive probabilistic framework for the analysis and classification of the reductions (simplifications) associated with empirical econometric models. However, the available approaches to econometric reduction theory are unable to satisfactory...