How are Firms’ Wages and Prices Linked: Survey Evidence in Europe

This paper presents new evidence on the patterns of price and wage adjustment in European firms and on the extent of nominal rigidities. It uses a unique dataset collected through a firm-level survey conducted in a broad range of countries and covering various sectors. Several conclusions are drawn from this evidence. Firms adjust wages less frequently than prices: the former tend to remain unchanged for about 15 months on average, the latter for around 10 months. The degree of price rigidity varies substantially across sectors and depends strongly on economic features, such as the intensity of competition, the exposure to foreign markets and the share of labour costs in total cost. Instead, country specificities, mostly related to the labour market institutional setting, are more relevant in characterising the pattern of wage adjustment. The latter exhibits also a substantial degree of time-dependence, as firms tend to concentrate wage changes in a specific month, mostly January in the majority of countries. Wage and price changes feed into each other at the micro level� and there is a relationship between wage and price rigidity.

Nonreferral of possible soft tissue sarcomas in adults: a dangerous omission in policy

Introduction. The aim of this study is to compare outcomes in three groups of STS patients treated in our specialist centre: patients referred immediately after an inadequate initial treatment, patients referred after a local recurrence, and patients referred directly, prior to any treatment. Patients and methods. We reviewed all our nonmetastatic extremity-STS patients with a minimum follow-up of 2 years. We compared three patient groups: those referred directly to our centre (group A), those referred after an inadequate initial excision (group B), and patients with local recurrence (group C). Results. The study included 174 patients. Disease-free survival was 73%, 76%, and 28% in groups A, B, and C, respectively (P < .001). Depth, size, and histologic grade influenced the outcome in groups A and B, but not in C. Conclusion. Initial wide surgical treatment is the main factor that determines local control, being even more important than the known intrinsic prognostic factors of tumour size, depth, and histologic grade. The influence on outcome of initial wide local excision (WLE), which is made possible by referral to a specialist centre, is paramount

Un modelo del mercado de trabajo y la restricción de oferta en la economía española

En este trabajo se estima un modelo de determinación de la NAIRU en la economía española durante el período 1964-1990. Con respecto a otros modelos de este tipo existentes en la literatura, se modela la NAIRU en el marco de una economía abierta, lo que permite establecer a medio plazo los "trade-offs" existentes entre variaciones en la tasa de inflación, la tasa de paro y el saldo de la balanza por cuenta corriente. Esta relación determina la restricción de oferta de la economía española.This paper develops and estimates a small macroeconomic equilibrium model of the Spanish labour market during 1964-1990. With respect to similar models in the literature, the model is developed for the open economy case, in a framework of imperfect competition in product and labour markets. As a byproduct of the analysis, it is possible to determine the available trade-offs between changes in inflation, unemployment and the current account, which establishes the existence of a supply constraint. The demand side policy mix adopted determines the values of the three variables in the constraint, though it cannot shift such constraint unless supply side policies are undertaken.Publicad

Nonreferral of possible soft tissue sarcomas in adults: a dangerous omission in policy

Introduction. The aim of this study is to compare outcomes in three groups of STS patients treated in our specialist centre: patients referred immediately after an inadequate initial treatment, patients referred after a local recurrence, and patients referred directly, prior to any treatment. Patients and methods. We reviewed all our nonmetastatic extremity-STS patients with a minimum follow-up of 2 years. We compared three patient groups: those referred directly to our centre (group A), those referred after an inadequate initial excision (group B), and patients with local recurrence (group C). Results. The study included 174 patients. Disease-free survival was 73%, 76%, and 28% in groups A, B, and C, respectively (P < .001). Depth, size, and histologic grade influenced the outcome in groups A and B, but not in C. Conclusion. Initial wide surgical treatment is the main factor that determines local control, being even more important than the known intrinsic prognostic factors of tumour size, depth, and histologic grade. The influence on outcome of initial wide local excision (WLE), which is made possible by referral to a specialist centre, is paramount