Does it make us unhappier when we compare our current consumption with that of the Joneses or our own past achievements? This paper tries an answer without recurring on interpersonal utility comparisons. It calibrates an economy under three different assumptions, non-comparing utility, and...

Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...

This paper studies the effects of heterogeneity in planning propensity on wealth inequality and asset prices. I consider an economy populated by attentive and inattentive agents. Attentive agents plan their consumption period by period, while inattentive agents plan every other period....

We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct revelation through an announcement, versus indirect information transmission through monetary policy. These two ways of transmitting information have very different consequences. Since...

Spain is a European leader as a golf tourism destination, and Andalusia is the region that receives the most tourism in this sector, boosting not only the golf industry but also the percentage of income overall. Thus, user loyalty and knowing the future intentions of users is a matter of vital...

Social media have been credited with the potential of reinvigorating trust by offering new opportunities for social and political participation. This view has been recently challenged by the rising phenomenon of online incivility, which has made the environment of social networking sites hostile...

We study how the diffusion of broadband Internet affects social capital using two data sets from the UK. Our empirical strategy exploits the fact that broadband access has long depended on customers position in the voice telecommunication infrastructure that was designed in the 1930s. The actual...