Vol 20, No 42 (2017): enero-marzo

This paper evaluates the influence that macroeconomic and institutional variables have on the unemployment rate in 14 countries within the European Union. A panel data model is used for the 1985-2011-time period. The model allows concluding which macroeconomic and institutional variables could be more effective for improving the labor market response when facing economic difficulties. It can be concluded then that excessive protection for workers, inter-professional minimum salary wage, as well as a low competition in the product market, can partially explain the higher unemployment rates found in several countries of the European Union.

This paper analyses the evolution of Spain´s income distribution between 2004-2013. The main purpose is to examine the role that the labor market played in the inequality gap increase, as well as the role that several public actions played via monetary transactions, direct taxes, and public services supplied in kind. The methodology uses several classical inequality indicators, which appear on the Standard of Living Survey. The results lead to the conclusion that inequality increases are closely related to the labor market deterioration that arose after the 2007 crisis.

This paper in based on a critical and comparative analysis done over the logic treaty (Principles of Science) and economic treaty (Theory of political Economy), which objective is to analyze W.S Jevons thoughts on his definition on inductive logic and its application in economics, taking as base the profit principle. Jevons objective is to analyze economics as a science under the proposed inductive logic methodology included in his scientific method treaty (Principles of Science). Within this proposal, the profit principal can be conceived as a hypothesis for individual behavior appealable by empiric behavior.

This paper presents a core-periphery model application for measuring two systemic risk dimensions in the Venezuelan inter-bank market: connectivity and funding patterns between banks. The period of study is of special interest given that it includes a financial adjustment during 2009. Results evidence that after this date, market connectivity seems to have dropped, which could lead to a smaller systemic risk spread. In the other hand, funding patterns seem to have been modified and suggest that banks, which belong to the core, tend to present increasing liquidity needs, which increases the liquidity risks of this banks. Likewise, the model application helps to identify which banks should be more closely supervised.

The goal of this paper is to analyze the effects that physical characteristics of workers have over wages in the Ecuadorian labor market. Using micro data information taken from the 2012 National Health and Nutrition Survey of Ecuador, Mincer equations are estimated relating the wage income per hour and socioeconomic characteristics of the worker variables. Given that survey data present an implicit problem called selection bias, which consists in lack of randomness within the survey respondents, a Heckman anti-bias equation is used in order to correct this issue. Results show that those taller and heavier individuals, as well as those that have higher body-mass, tend to have higher wages. These results are consistent even between genders, geographic areas and educational levels.

The goal of the paper is to review existent evidences of international cooperation effects for developments related with educational advancements in developing economies. The used method was based on the most relevant academic research found related to this specific topic. Initially, the effect of development cooperation over relevant variables for least developed countries was analyzed, excluding educational variables. Then, the literature that researches effects over education is analyzed (stock and flow variables). Evidences found in literature are not conclusive about the impact that cooperation has in developing countries, given that evidences show positive and negative effects on the same time.

The main goal this paper has is to analyze the behavior or rural property tax in Colombia between 1998 and 2010. The methodological structure includes calculating six variables related with property tax collection and four local institutional variables, which are organized by municipality; using these indicators, a descriptive analysis is done in order to identify property performance per municipality group. Results suggest the existence of a heterogeneous behavior between different municipalities, largely explained by institutional variables such as land concentration, political concentration and the presence of illegal groups that have the possibility of replacing local power.