We analyse the budget balance forecasts prepared by 15 European countries in their Excessive Deficit Procedure reportings, studying the statistical properties of forecast errors and their politico-institutional determinants. Forecast errors are responsive to growth surprises, fiscal institutions...

We compare Europe with the USA and Canada as regards business cycle synchronization and core-periphery patterns. A long sample (1950-2005) makes it possible to study how these aspects have evolved over time. Results support the economic viability of EMU. Average cyclical correlations among...

As teorias do investimento em capital humano, enquanto ramo da abordagem neo- clássica da Economia do Trabalho, ultrapassam em muito a modelização das decisões individuais. No entanto, constitui este um dos domínios onde mais proficua se tem manifestado a endogeneizaçio das críticas de...

In this paper we examine the effects of asymmetric information on the nature of financial equilibrium and on the capital structure of firms. In the first model presented, the financial contracts on offer involve pooling equilibrium with no adverse selection. However, in the special case...

We analyze single binary-choice voting rules and identify the presence of the No-show paradox in this simple setting, as a consequence of specific turnout or quorum conditions that are included in actual rules. Since these conditions are meant to ensure a representative outcome, we try to...

The operation and management of common property resources (“the commons”) have been exhaustively examined in economics and political science, both in formal analysis and in practical applications. “Tragedy of the Commons” metaphor helps to explain why people overuse shared resources. On...

Current historiography on the European decolonization processes has developed no general theory of these processes, but is rather a collection of case-based studies. Moreover, there is no consideration for counter-factual possibilities, including the analysis of those cases where independence...

The paper deals with a location game involving two symmetric firms. The players choose strategies in a spatial setting made up by two asymmetric countries,where the smallest country has a labour cost advantage. Determination of equilibrium location patterns enables to assess under what...