We address the issue of social distribution of an aggregate risk (on agricultural export price), in a macro-economic perspective. Individual incomes in representative social groups are computed as a function of export prices, which are assumed to be stochastic, using an applied general...

In this paper, we argue that many of the rigidities that characterize European labour markets can be understood as the outcome of political influence by incumbent employees. We then empirically investigate the determinants of labour market institutions and show that the results are consistent...

We develop a model to analyse the implications of firing costs on international specialization.