This study analyses whether self-confidence affects financial abilities of young people in Spain, through financial literacy. We use data from the Programme for International Student Assessment (PISA) Financial Literacy (2012) report, conducted by the OECD. Our hypothesis is that non-cognitive...

This paper analyzes the effect of the number and age structure of children on women's wages in Colombia. On average, mothers earn 17.6% less than non-mothers. Because not all women participate in the labor market, sample selection is a potential issue and is therefore corrected. After...

This study identifies the main problems that Colombia faces and the medium and long term policies that it should follows in order to become a developed country. We concentrate on five relevant elements of development: Education, health and demography, poverty and income distribution, labor...

In this paper we present a preliminary estimate of the financial impact of the recent reform of the Spanish pension system. After updating the projections of pension expenditure constructed in de la Fuente and Domenech (2010) for the period 2008-60, we analyze the impact on this variable of...

After analyzing the different reasons why the financial system and also the regulatory framework induced procyclicality, this paper reviews the experiences of three countries which have introduced dynamic provisioning as a regulatory tool to limit procyclicality. The case of...

This paper develops a simple model that can be used to analyze the long-term sustainability of the contributive pension system and the steady-state of pension expenditure to changes in some key demographic and economic variables.

While general equilibrium theories of trade stress the role of third-country effects, little work has been done in the empirical foreign direct investment (FDI) literature to test such spatial linkages. This paper aims to provide further insights into long-run determinants of Spanish FDI by...