Efficient partnership dissolution under buy-sell clauses

When a partnership comes to an end, partners have to determine the terms of the dissolution. A well known way to do so is by enforcing a buy-sell clause. Under its rules one party offers a price for the partnership and the other party chooses whether to sell her share or buy her partner´s share at this price. It is well known that in a model with private valuations this dissolution rule may generate inefficient allocations. However, we show that if partners negotiate for the advantage of being chooser, then buy-sell clauses result in an ex-post efficient outcome. We argue that this endogenous selection of the proposer is consistent with how buysell clauses are drafted in practice. For an example with interdependent valuations, we further show that the buy-sell clause can perform better than an auction.

Exploring the link between employment search time and reservation

In our piece of work we are facing a two-fold problem: on the one hand, we study the behaviour of young job seekers and the extent to which reservation wages and unemployment benefits play a relevant role in the transition into working life. On the other hand, we intend to find out whether the determinants of the job search process may also affect subsequent wages. We undertake an empirical approach combining one-step estimations with two-step instrumental variables techniques. The data used to this end come from the European Community Household Panel (ECHP) for the period 1995-2001. To be precise, the sub-sample gathers both male and female Southern European (Italian, Greek, Spanish and Portuguese) workers. From the results of the analysis important subtleties arise, particularly related to differences across countries.Transitions into work, unemployment benefits, reservation wages, earnings.

Exploring Content-Based Language Arts Instruction In The ESOL Classroom Through A Holistic Approach

The activities contained in this project derive from personal efforts to implement content-based instruction with a language arts thematic unit in the ESOL classroom through a holistic approach. Public school ESOL students and teachers alike are more than ever experiencing a tremendous pressure to accelerate English language instruction and learning in order to satisfy local/state curriculum tests, and national standards. This materials-development project correlates with the local Board of Education’s Academic Knowledge and Skills Curriculum guidelines without restricting the teacher’s freedom to prioritize what is most important and relevant to students’ lives, respecting their self as learners, and demonstrating their efforts to learn the new language while attaining academic achievement. The intention of this holistic approach is to offer the students the opportunity to find their desire to learn within themselves, when the content presented to them links to their prior knowledge or experiences and where the teacher, acting as a facilitator, allows the students to think, express their feelings, and understand their actions

Especialización vertical, outsourcing e inversión directa en la industria española

No se puede entender la globalización sin estudiar la creciente expansión del comercio internacional de bienes intermedios. Las medidas de outsourcing aquí utilizadas a partir de la tablas input-output permiten explicar la evolución del comercio intra-industrial e inter-industrial de la industria española entre 1995 y 2000. La especialización vertical permite avanzar un poco más, al vincular las importaciones de inputs que requiere un país con las exportaciones que éste realiza. Además, se analiza el papel que han jugado tanto la presencia de multinacionales extranjeras como los flujos de entrada y de salida de inversiones directas en el outsourcing. Los resultados indican que en las ramas de alta tecnología la presencia de multinacionales va asociada a un alto outsourcing intra-industrial y que en algunas ramas tradicionales el outsourcing va acompañado de inversiones españolas en el exterior. ____________________________________________ It is not possible to understand the globalisation process without studying the growing expansion of international trade in intermediate goods. The outsourcing measures used in this paper are calculated from input-output tables and allow us to explain the evolution of intra –and inter– industrial trade for the Spanish manufactures in 1995-2000. Vertical specialization goes a step further by linking imports of inputs required by a country and its exports. Furthermore, this paper analyses the impact on outsourcing of both the presence of multinational firms (MNEs) and the inward and outward flows of direct investment. Our results indicate that in high-tech sectors, the presence of MNEs is linked to high intra-industrial outsourcing, and in some traditional (low-tech) outsourcing is related to Spanish outward FDI

Financial Crises In Spain: Lessons From The Last 150 Years

The financial disturbances that originated in the US in the second half of 2007 are the latest in a series of episodes in various regions of the world in recent years. However, financial crises are not unique to current financial systems, history being full of banking and exchange rate crises. Are crises alike? Do they share similar features or, on the contrary, are they strikingly distinct? Have they become more frequent, longer-lasting and more severe since the 20th century? Are we now living in a more vulnerable financial world? What does history tell us when comparing past and present crises? This paper chooses to address some of these questions for the case of Spain. The objective of this paper is to study the financial crises that have occurred in Spain over the last 150 years. Data are revised and different indicators constructed to identify financial crises. We consider all types of crises, namely currency, banking, stock market and debt crises and all their possible combinations, estimate their frequency by period and measure their length and depth. The Spanish case is compared to the results obtained for multi-country analyses in order to test whether the general conclusions obtained in those papers hold for one sole country. Finally, we perform an analysis of the main financial crises in order to establish hypotheses that could be tested in future research.financial crises, currency, banking, stock market and debt crises, Spanish banking history.

PROPUESTA DE PROFESIONALIZACIÓN DEL PERSONAL DE SEGURIDAD PÚBLICA MUNICIPAL DE JOCOTITLÁN ESTADO DE MÉXICO

Esta investigación se realiza con el propósito de llevar a cabo un análisis acerca de la profesionalización que se tiene dentro del área de seguridad pública en el ámbito municipal; específicamente en el municipio de Jocotitlán Estado de México

Sobre Melissa officinalis L. subsp. officinalis en Andalucía occidental

Melissa officinalis subsp. officinalis in west Andalusia Flora.Palabras clave. Lamiaceae, Melissa, Andalucía Occidental.Key words. Lamiaceae, Melissa, Andalucía Occidental

Estadística y causalidad en la sociología empírica del XX

Las ideas que se trabajan en este artículo tienen que ver con el desarrollo de la teoría de la probabilidad y con lo que, por vía estadística, se ha llegado a establecer acerca de la causalidad dentro de algunas tradiciones reconocibles de la sociología empírica del siglo XX. Para ello, se hará una reconstrucción -esquemática aunque con pretensión informativa acerca de las distintas escuelas- de los capítulos más señalados en el desarrollo de la sociología estadística institucional. Se arrancará, así, de su inicial despegue en el ámbito estadounidense a comienzos de siglo, hasta llegar a bosquejar las expectativas actuales de la sociología estadística, dado el impacto de su creciente automatización y las alternativas que tales desarrollos pueden ofrecer a una posible conjunción de investigación y teoría.The ideas here presented deal with the development of probability theory and the statistical claims on causality made by some identifiable traditions in XXth century empirical sociology. With this view, the most relevant chapters in the development of institutional statistical sociology will be reconstructed in a summarized way, paying attention to the different schools. This reconstruction will start from the departure of this type of sociology in the United States at the beginning of the XXth century, and will outline the present prospects of statistical sociology given the impact of its growing automation; it will also consider the chances that these developments may offer for a possible link between theory and research

El futuro del cuidado: El envejecimiento de la población y sus consecuencias

Este artículo fue en su origen una conferencia en Debats a la Nau . Cicle: futur obert. publicada después en Pasajes: Revista de pensamiento contemporáneo. Incorpora algunas referencias a ceremonias tradicionales relacionadas con el fallecimiento de los niños en la región de Valencia (los mortichuelos y el albalaet) y analiza los cambios recientes en la adscripción de la obligación social del cuidado.Peer reviewe