2024-03-30T00:49:41Zhttp://oai.recercat.cat/request
oai:recercat.cat:2072/17502012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaButnar, IsabelaLlop Llop, Maria2006-03-31T13:45:42Z20061576-3382http://hdl.handle.net/2072/1750Extending the traditional input-output model to account for the environmental impacts
of production processes reveals the channels by which environmental burdens are
transmitted throughout the economy. In particular, the environmental input-output
approach is a useful technique for quantifying the changes in the levels of greenhouse
emissions caused by changes in the final demand for production activities. The inputoutput
model can also be used to determine the changes in the relative composition of
greenhouse gas emissions due to exogenous inflows. In this paper we describe a method
for evaluating how the exogenous changes in sectorial demand, such as changes in
private consumption, public consumption, investment and exports, affect the relative
contribution of the six major greenhouse gases regulated by the Kyoto Protocol to total
greenhouse emissions. The empirical application is for Spain, and the economic and
environmental data are for the year 2000. Our results show that there are significant
differences in the effects of different sectors on the composition of greenhouse
emissions. Therefore, the final impact on the relative contribution of pollutants will
basically depend on the activity that receives the exogenous shock in final demand,
because there are considerable differences in the way, and the extent to which,
individual activities affect the relative composition of greenhouse gas emissions. Keywords: Greenhouse emissions, composition of emissions, sectorial demand,
exogenous shock.The first author acknowledges the institutional support of the Ministerio de Educación y
Cultura. The second author acknowledges the Ministerio de Educación y Cultura
(grants SEC2003-06630 and SEJ2004-07477) and the Generalitat de Catalunya (grant
XT2004-0095).application/pdfengDocuments de treball del Departament d'Economia;2006-1Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Efecte d'hivernacle, Gasos d'Emissions atmosfèriquesAnàlisi d'entrada/sortidaConsum (Economia)InversionsExportacionsComposition of Greenhouse Gas Emissions in Spain: an Input-Output Analysisinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17522012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaCorbella Domènech, TeresaOliva, Martí2006-03-31T15:05:45Z2005http://hdl.handle.net/2072/1752As paintings are assets, we propose to model a painting's price dynamics as a diffusion process, i.e., as the financial literature models share prices, but correcting by size. We show that the influence of size on the artwork price diminishes as the paintings gets older because 1) prices incorporate progressively more noise and 2) for high quality artists, the relative importance of size on price decreases as the artist consolidates and authorship gains importance as explanatory variable. Our theoretical results are consistent with data from a sample of 19th- and 20th-century Catalan painters of similar quality. These findings suggest that an artist's quality and antiquity should be taken into account in order to obtain more efficient estimates of parameters in hedonic art market models.Financial support from the Spanish Ministerio de Educación y Ciencia, through project SEJ2004-07477application/pdfengDocuments de treball del Departament d'Economia;2005-2Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Mercat de l'artPinturaPreusModels matemàticsA Rembrandt is a Rembrandtinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17512012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaSegarra Blasco, AgustíArauzo Carod, Josep Maria2006-03-31T14:08:08Z2005http://hdl.handle.net/2072/1751This paper is about the firm innovation process and the cooperation of the innovative
firms with other firms and public institutions. A special attention is paid to the
cooperation with universities. We use the Technological Innovation Survey (TIS) from
the Instituto Nacional de Estadística (Spain) in order to obtain data for 4,159
innovative firms. Our results show that firm's cooperation activities are closely linked
to the characteristics of the industry and the firm as well as to the origin of public
funds for R&D activities. Key words: Innovation, universities, Spanish economy.
JEL code: O31, I20, L60This research was partially funded by CICYT: SEJ2004-05860/ECON and CICYT: SEJ2004-
07824/ECON. We would like to acknowledge the helpful and supportive comments of participants at
the Workshop on Local Development and Territorial Governance (Toulouse) and the XXX Reunión de
Estudios Regionales (Barcelona) and those of an anonymous referee. The usual disclaimer applies.application/pdfengDocuments de treball del Departament d'Economia;2005-1Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)InnovacióUniversitatsEspanyaEconomiaExternal sources of innovation and industry-university interaction:evidence from Spanish firmsinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17532012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep Maria2006-03-31T15:19:16Z2005http://hdl.handle.net/2072/1753In this paper we analyze the existence of spatial autocorrelation at a local level
in Catalonia using variables such as urbanisation economies, population
density, human capital and firm entries. From a static approach, our results
show that spatial autocorrelation is weak and diminishes as the distance
between municipalities increases. From a dynamic approach, however, spatial
autocorrelation increased over the period we analysed. These results are
important from a policy point of view, since it is essential to know how economic
activities are spatially concentrated or disseminated. Key words: spatial autocorrelation, municipalities.
JEL classification: R110, R120This research was partially funded by CICYT: SEJ2004-05860/ECON and
CICYT: SEJ2004-07824/ECON.application/pdfengDocuments de treball del Departament d'Economia;2005-3Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Autocorrelació (Estadística)Anàlisi espacial (Estadística)MunicipisA note on Spatial Autocorrelation at a Local Levelinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17542012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFrutos, M. Ángeles deManzano, Carolina2006-03-31T16:31:40Z2005http://hdl.handle.net/2072/1754This paper analyzes the role of traders' priors (proper versus improper) on the implications of market transparency by comparing a pre-trade transparent market with an opaque market in a set-up based on Madhavan (1996). We show that prices may be more informative in the opaque market, regardless of how priors are modelled. In contrast, the comparison of market liquidity and volatility in the two market structures are affected by prior specification. Key words: Market microstructure, Transparency, Prior informationFinancial support from the Spanish Ministerio de Educación y Ciencia, through projects SEJ2004-01959 and SEJ2004-07477, and the Departament d’Universitats, Recerca i Societat de la Informació de la Generalitat de Catalunya are gratefully acknowledged.application/pdfengDocuments de treball del Departament d'Economia;2005-4Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Mercat de capitalsInformació privilegiadaSecurity prices and market transparency: the role of prior informationinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17552012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaLlop Llop, Maria2006-03-31T17:29:08Z2005http://hdl.handle.net/2072/1755The environmental input-output approach reveals the channels through which the
environmental burdens of production activities are transmitted throughout the economy.
This paper uses the input-output framework and analyses the changes in Spanish
emission multipliers during the period 1995-2000. By decomposing the global changes
in multipliers into different components, it is possible to evaluate separately the
economic and ecological impacts captured by the environmental input-output model.
Specifically, in this study we distinguish between the effects on multipliers caused by
changes in emission coefficients (the ecological impacts) and the effects on multipliers
caused by changes in technical coefficients (the economic impacts). Our results show a
significant improvement in the ecological impacts of production activities, which
contributed negatively to changes in emission multipliers. They also show a
deterioration in the economic impacts, which contributed positively to changes in
emission multipliers. Together, these two effects lead to a small reduction in global
multipliers during the period of analysis. Our results also show significant differences
in the individual behaviour of different sectors in terms of their contribution to
multiplier changes. Since there are considerable differences in the way individual
sectors affect the changes in emission levels, and in the intensity of these effects, this
means that the final effects will basically depend on the activity considered. Keywords: emission multipliers, multipliers' changes, ecological impacts, economic
impacts.This study has been supported by the Ministerio de Educación y Cultura (grants SEC2003-06630 and
SEJ2004-07477) and the Generalitat de Catalunya (grant XT2004-0095).application/pdfengDocuments de treball del Departament d'Economia;2005-5Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Anàlisi d'entrada/sortidaEmissions atmosfèriquesImpacte ambientalImpacte econòmicMultiplicador (Economia)Ecological and Economic Impacts within the Environmental Input-Output Frameworkinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17712012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaManjón Antolín, Miguel C.Martín Bofarull, MònicaSegarra Blasco, Agustí2006-04-27T13:12:14Z2001http://hdl.handle.net/2072/1771En este trabajo se analiza una vía alternativa en el debate de la convergencia regional en España: el estudio de la dinámica industrial de sus Comunidades Autónomas. Para ello se analizan los flujos de entrada y salida de establecimientos industriales en las manufacturas delas regiones españolas y se abordan los factores de carácter sectorial o regional que inciden sobre la movilidad industrial. Las specificaciones econométricas adoptan la estructura de un sistema de ecuaciones y cubren las tres hipótesis fundamentales que se han abordado en laliteratura (independencia, simetría y simultaneidad) a partir de un panel de datos construido con informaciones procedentes del Registro de Establecimientos Industriales y la Encuesta Industrial.
Palabras clave: demografía industrial, sistemas de ecuaciones, datos de panelLos autores agradecen el soporte financiero de la Fundación Caja de Ahorros y de la
CICYT (SEC2000-0882-C02-02).application/pdfspaDocuments de treball del Departament d'Economia;2001-4Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)IndústriesLocalització industrialEquacionsAnàlisi de dades de pannellEspanyaComunitats autònomesEntradas y salidas de empresas: un contraste de las hipótesis de independencia, simetría y simultaneidadinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17722012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaManjón Antolín, Miguel C.2006-04-27T13:31:06Z2001http://hdl.handle.net/2072/1772This paper assesses empirically the importance of size discrimination and disaggregate data for deciding where to locate a start-up concern. We compare three econometric specifications using Catalan data: a multinomial logit with 4 and 41
alternatives (provinces and comarques, respectively) in which firm size is the main
covariate; a conditional logit with 4 and 41 alternatives including attributes of the sites
as well as size-site interactions; and a Poisson model on the comarques and the full spatial choice set (942 municipalities) with site-specific variables. Our results suggest that if these two issues are ignored, conclusions may be misleading. We provide evidence that large and small firms behave differently and conclude that Catalan firms
tend to choose between comarques rather than between municipalities. Moreover, labour-intensive firms seem more likely to be located in the city of Barcelona. Keywords: Catalonia, industrial location, multinomial response model.
JEL: C250, E30, R00, R12This research was partially funded by the CICYT
(SEC2000-0882-C02-02).application/pdfengDocuments de treball del Departament d'Economia;2001-5Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialModels economètricsCatalunyaFirm Size and Geographical Aggregation: An Empirical Appraisal in Industrial Locationinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17732012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFrutos Casado, Ángeles deManzano, Carolina2006-04-27T14:16:09Z2003http://hdl.handle.net/2072/1773This paper determines the effects of post-trade opaqueness on market performance. We find that the degree of market transparency has important effects on market equilibria. In particular, we show that dealers operating in a transparent structure set regret-free prices at each period making zero expected profits in each of the two trading rounds, whereas in the opaque market dealers invest in acquiring information at the beginning of the trading day. Moreover, we obtain that if there is no trading activity in the first period, then market makers only change their quotes in the opaque market. Additionally, we show that trade disclosure increases the informational efficiency of transaction prices and reduces volatility. Finally, concerning welfare of market participants, we obtain ambiguous results. Keywords: Market microstructure, Post-trade transparency, Price experimentation, Price dispersion.Financial support from project BEC 2000-0173 for the first author and from SEC2001-0445 for the second author is gratefully acknowledged.application/pdfengDocuments de treball del Departament d'Economia;2003-2Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Mercat-AnalisiPreusTrade disclosure and price dispersioninfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17742012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFerré Carracedo, Montserrat2006-04-27T14:45:54Z20031576 - 3382http://hdl.handle.net/2072/1774In this paper we analyse the setting of optimal policies in a monetary union with one monetary authority and various fiscal authorities that have a public deficit target. We will show that fiscal cooperation among the fiscal authorities, in the presence of positive supply shocks, ends up producing higher public deficits than in a non-cooperative regime. JEL No. E61, E63, F33, H0. Keywords: monetary union, fiscal policy coordination.application/pdfengDocuments de treball del Departament d'Economia;2003-4Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Integració monetàriaPolítica fiscalShould fiscal authorities cooperate in a monetary union with public deficit targets?info:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17752012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaSegarra Blasco, Agustí2006-04-27T16:54:54Z2004http://hdl.handle.net/2072/1775In this paper we explore the determinants of firm start-up size of Spanish manufacturing industries. The industries' barriers to entry affect the ability of potential entrants to enter the markets and the size range at which they decide to enter. In order to examine the relationships between barriers to entry and size we applied the quantile regression techniques. Our results indicate that the variables that characterize the structure of the market, the variables that are related to the behaviour of the incumbent firms and the rate of growth of the industries generate different barriers depending on the initial size of the entrants. Keywords: Entry, regression quantiles, start-up size.
JEL classification: L110, L600This research was partially funded by the CICYT (SEJ2004-05860/ECON and SEJ2004-07824/ECON).application/pdfengDocuments de treball del Departament d'Economia;2004-1Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Empreses -- CreacióEmpreses -- DimensióBarreres per a entrar en un mercatAnàlisi de regressióEspanyaThe Determinants of Entry are not Independent of Start-up Size: Some evidence from Spanish manufacturinginfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17762012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaTheilen, Bernd2006-04-27T17:11:26Z2004http://hdl.handle.net/2072/1776Information sharing in oligopoly has been analyzed by assuming that firms behave as a sole economic agent. In this paper I assume that ownership and management are separated. Managers are allowed to falsely report their costs to owners and rivals. Under such circumstances, if owners want to achieve information sharing they must use managerial contracts that implement truthful cost reporting by managers as a dominant strategy. I show that, contrary to the classical result, without the inclusion of message-dependent payments in managerial contracts there will be no information sharing. On the other hand, with the inclusion of such publicly observable payments and credible ex-ante commitment by owners not to modify these payments, there will be perfect information sharing without the need for third parties. Keywords: Information sharing, Delegation, Managerial contracts. JEL classification numbers: D21, D82, L13, L21application/pdfengDocuments de treball del Departament d'Economia;2004-2Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)OligopolisModels economètricsDelegation and information sharing in oligopolyinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17772012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaTeruel Carrizosa, Mercedes2006-04-27T17:49:36Z2004http://hdl.handle.net/2072/1777This paper concerns the effects of territorial factors on the processes involved in the creation of manufacturing firms in Spanish cities. Most contributions have focused on regional factors rather than urban ones. Here we assume that it is
possible to identify certain urban factors that attract new firms. We use data for the entry of firms in Spanish manufacturing industries between 1994 and 2002. This paper contributes to the existing literature on market entry. Key words: cities, regions, firm entry and Spanish economy.
JEL: R0, R12, L60The authors are grateful to the CICYT (SEC2000-0882-C02-02) and the Department of
Universities, Research and Information Society (DURSI) of the Catalan Government for their
financial support.application/pdfengDocuments de treball del Departament d'Economia;2004-3Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)CiutatsRegionsEspanya -- Condicions econòmiquesEmpresesLocalització industrialA territorial approach to firm entry: The effect of city sizeinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/17782012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaManjón Antolín, Miguel C.2006-04-27T18:12:47Z20041576 - 3382http://hdl.handle.net/2072/1778Much of the research on industry dynamics focuses on the interdependence between the sectorial rates
of entry and exit. This paper argues that the size of firms and the reaction-adjustment period are
important conditions missed in this literature. I illustrate the effects of this omission using data from the Spanish manufacturing industries between 1994 and 2001. Estimates from systems of equations models provide evidence of a conical revolving door phenomenon and of partial adjustments in the
replacement-displacement of large firms. KEYWORDS: aggregation, industry dynamics, panel data, symmetry, simultaneity.
JEL CLASSIFICATION: C33, C52, L60, L11Research funding from the CICYT grant SEC2000-0882-C02-02.application/pdfengDocuments de treball del Departament d'Economia;2004-4Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Agregació (Estadística)EspanyaIndústriesAnàlisi de dades de pannellSimetria (Matemàtica)Firm Size and Short-Term Dynamics in Aggregate Entry and Exitinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/36812012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaLlop Llop, Maria2007-02-14T14:18:18Z200620061576 - 3382T-1985-2006http://hdl.handle.net/2072/3681The objective of this paper is to analyse the economic impacts of alternative
water policies implemented in the Spanish production system. The methodology uses
two versions of the input-output price model: a competitive formulation and a mark-up
formulation. The input-output framework evaluates the impact of water policy measures
on production prices, consumption prices, intermediate water demand and private
welfare. Our results show that a tax on the water used by sectors considerably reduces
the intermediate water demand, and increases the production and consumption prices.
On the other hand, according to Jevons' paradox, an improvement in technical
efficiency, which leads to a reduction in the water requirements of all sectors and an
increase in water production, increases the amount of water consumed. The combination
of a tax on water and improved technical efficiency takes the pressure off prices and
significantly reduces intermediate water demand. JEL Classification: C67 ; D57 ; Q25.
Keywords: Production prices; Consumption prices; Water uses; Water policy; Water
taxation.application/pdfengDocuments de treball del Departament d'Economia;2006-2Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)PreusConsum (Economia)Aigua-UtilitzacióAigua-Polítiques de gestióAigua-ImpostosEconomic impacts of alternative water policy scenarios in the Spanish production system: an input-output analysisinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/36852012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAlañón Pardo, ÁngelArauzo Carod, Josep Maria2007-02-19T14:18:35Z200620061576 - 3382T-1986-2006http://hdl.handle.net/2072/3685El propòsit d'aquest treball és analitzar fins a quin punt la millora en l'accessibilitat dels municipis a la xarxa viària d'alta capacitat ha tingut efectes positius en la creació d'establiments industrials. En concret, estudiem les decisions de localització d'establiments industrials a escala local per a 19 sectors manufacturers amb una desagregació de 2 dígits. Aquest treball incorpora variables de gran rellevància (com ara una mesura d'accessibilitat mesurada en temps de desplaçament i els efectes de les inversions viàries) i utilitza tècniques d'anàlisi espacial. Pel que fa a les entrades d'establiments industrials, les dades han estat obtingudes del Registre d'Establiments Industrials de Catalunya (REIC). Els resultats mostren una incidència positiva de les millores en la xarxa viària sobre les decisions de localització de les empreses.application/pdfcatDocuments de treball del Departament d'Economia;2006-3Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialInfraestructures de transportCatalunyaInfraestructures de Transport i Localització Industrial. Evidència Empírica per a Catalunyainfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/36862012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaLiviano Solís, DanielMartín Bofarull, Mònica2007-02-19T14:24:21Z200620061576-3382T-1987-2006http://hdl.handle.net/2072/3686This paper explores the effects of new business formation on employment growth
in Spanish manufacturing industries. New firms are believed to make an important
contribution to economic growth but the extent of this contribution is unclear. We
consider time lags of new firm formation as explanatory variables of employment
change and identify how long the effect of new firm entries on employment lasts.
Our main results show that the effects of new business formation are positive in the
short term, negative in the medium term and positive in the long term, thus
confirming the existence of indirect supply-side effects found in similar studies for
other countries. Key words: regional growth, firm entry, time lags and Spanish economy.
JEL classifications: L00, L60, R11, R12application/pdfengDocuments de treball del Departament d'Economia;2006-4;Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Empreses -- CreacióCreació d'ocupacióEspanyaManufacturesNew business formation and employment growth: some evidence for the Spanish manufacturing industryinfo:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/36872012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFerré Carracedo, Montserrat2007-02-19T14:36:03Z200620061576-3382T-1988-2006http://hdl.handle.net/2072/3687This article studies whether fiscal authorities would prefer to operate like in the current
EMU or to coordinate according to the theoretical literature. The EMU approach will
lead to higher volatility of interest rates, output, inflation and average budget deficits,
but the SGP deficit target will be breached less often. Keywords: fiscal policy coordination, monetary union, Stability and Growth Pact.
JEL No. E61, E63, F33, H0application/pdfengDocuments de treball del Departament d'Economia;2006-5;Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Política fiscalUnió Monetària EuropeaDèficit pressupostariUnió EuropeaStability and Growth PactWould Fiscal Authorities in the EMU prefer to coordinate?info:eu-repo/semantics/workingPaperDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/40552012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaTheilen, Bernd2007-04-25T18:28:04Z200720071988 - 0812T-550- 2007http://hdl.handle.net/2072/4055The relationship between competition and performance-related pay has been analysed in single-principal-single-agent models. While this approach yields good predictions for managerial pay schemes, the predictions fail to apply for employees at lower tiers of a firm's hierarchy. In this paper, a principal-multi-agent model of incentive pay is developed which makes it possible to analyze the effect of changes in the competitiveness of markets on lower tier incentive payment schemes. The results explain why the payment schemes of agents located at low and mid tiers are less sensitive to changes in competition when aggregated firm data is used. JEL classification numbers: D82, J21, L13, L22. Keywords: Cournot competition, Contract delegation, Moral hazard, Entry, Market size, Wage cost.application/pdfengDocuments de treball del Departament d'Economia;2007-01;Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Cournot competitionContract delegationMoral hazardEntryMarket sizeWage costMarket Competition and Lower Tier Incentivesinfo:eu-repo/semantics/articleDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/41762012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDíaz, LuisAndonova, Veneta Stefanova2007-06-12T18:24:20Z200720071988 - 0812T –1162-2007http://hdl.handle.net/2072/4176It has traditionally been argued that the development of telecommunications infrastructure is dependent on the quality of countries' political institutions. We estimate the effect of political institutions on the diffusion of three telecommunications services and find it to be much smaller in cellular telephony than in the others. By evaluating the importance of institutions for technologies rather than for industries, we reveal important growth opportunities for developing countries and offer policy implications for alleviating differences between countries in international telecommunications development. Keywords: Political constraints, telecommunications, GMM, economic development.
JEL codes: O1, O3.application/pdfengDocuments de treball del Departament d'Economia;2007-02Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Política de la telecomunicacióTelecomunicacióDesenvolupament econòmicPolitical constraintsTelecommunicationsGMMEconomic developmentPolitical institutions and the development of telecommunicationsinfo:eu-repo/semantics/articleDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/41772012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaLlop Llop, Maria2007-06-12T18:29:23Z200720071988 - 0812T-1163- 2007http://hdl.handle.net/2072/4177Social Accounting Matrices (SAM) are normally used to analyse the income
generation process. They are also useful, however, for analysing the cost transmission and price formation mechanisms. For price contributions, Roland-Holst and Sancho (1995) used the SAM structure to analyse the price and cost linkages through a representation of the interdependence between activities, households and factors. This paper is a further analysis of the cost transmission mechanisms, in which I add the capital account to the endogenous components of the Roland-Holst and Sancho approach. By doing this I reflect the responses of
prices to the exogenous shocks in savings and investment. I also present an
additive decomposition of the global price effects into categories of interdependence that isolates the impact on price levels of shocks in the capital account. I use a 1994 Social Accounting Matrix to make an empirical application of the Catalan economy. Keywords: social accounting matrix, cost linkages, price transmission, capital
account.
JEL Classification: C63, C69, D59.application/pdfengDocuments de treball del Departament d'Economia;2007-03Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Comptabilitat socialSocial accounting matrixCost linkagesPrice transmissionCapital accountA Multisectorial model of prices: the SAM approachinfo:eu-repo/semantics/articleDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/41782012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep Maria2007-06-12T18:37:47Z200720071988 - 0812T-1164- 2007http://hdl.handle.net/2072/4178This paper contributes to the existing literature on industrial location by
discussing some issues regarding the territorial levels that have been used in
location analysis. We analyse which could be the advantages and disadvantages of performing locational analysis at a different local levels. We use data for new manufacturing firms located at municipality, county and travel to work areas level. We show that location determinants vary according to the territorial level used in the analysis, so we conclude that the level at which we perform the investigation should be carefully selected. Keywords: industrial location, cities, agglomeration economies, count data
models.application/pdfengDocuments de treball del Departament d'Economia;2007-04Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialCiutatsIndustrial locationCitiesAgglomeration economiesCount data modelsIndustrial location at a local level: some comments about the territorial level of the analysisinfo:eu-repo/semantics/articleDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/42882012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaLiviano, Daniel2007-08-03T11:52:30Z200720071988 - 0812T-1571 - 2007http://hdl.handle.net/2072/4288The aim of this article is to assess the effects of several territorial
characteristics, specifically agglomeration economies, on industrial location
processes in the Spanish region of Catalonia. Theoretically, the level of
agglomeration causes economies which favour the location of new
establishments, but an excessive level of agglomeration might cause
diseconomies, since congestion effects arise. The empirical evidence on this
matter is inconclusive, probably because the models used so far are not
suitable enough. We use a more flexible semiparametric specification, which
allows us to study the nonlinear relationship between the different types of
agglomeration levels and location processes. Our main statistical source is the
REIC (Catalan Manufacturing Establishments Register), which has plant-level
microdata on location of new industrial establishments. Keywords: agglomeration economies, industrial location, Generalized Additive
Models, nonparametric estimation, count data models.application/pdfengDocuments de treball del Departament d'Economia;2007-05;Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialAgglomeration economiesIndustrial locationGeneralized Additive ModelsNonparametric estimationCount data modelsAgglomeration and location: a nonparametric approachinfo:eu-repo/semantics/articleDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53162012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaManjón Antolín, Miguel C.2008-04-07T18:00:18Z20072007ISSN 1988 - 0812Dipòsit Legal: T - 1886 - 2007http://hdl.handle.net/2072/5316Empirical studies on industrial location do not typically distinguish between new and relocated establishments. This paper addresses this shortcoming using data on the frequency of these events in municipalities of the same economic-administrative region. This enables us to test not only for differences in their determinants but also for interrelations between start-ups and relocations. Estimates from count regression models for cross-section and panel data show that, although partial effects differ, common patterns arise in “institutional” and “neoclassical” explanatory factors. Also, start-ups and relocations are positive but asymmetrically related. JEL classification: C25, R30, R10. Keywords: cities, count data models, industrial locationapplication/pdfengDocuments de treball del Departament d'Economia;2007-06Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialCiutatsModels economètricsLocations and Relocations:Modelling, Determinants, and Interrelationsinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53172012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFerré Carracedo, MontserratManzano, Carolina2008-04-07T18:10:57Z200720071988 - 0812T - 1887 - 2007http://hdl.handle.net/2072/5317Central banks often intervene secretly in the foreign exchange market. This secrecy
seems to be at odds with the signalling channel. In this article we will analyse when
a central bank intervening in the foreign exchange rate market purely through the
signalling channel would prefer to act secretly or publicly. By using a microstructure model, we will show that the consistency of the intervention with fundamentals, the volume of noise trading, the weight given to the effectiveness of intervention and the degree of superior information held by the central bank will influence the decision to intervene secretly or publicly. Keywords: foreign exchange intervention, market microstructure. JEL Classifi
cation: D82, E58, F31, G14.application/pdfengDocuments de treball del Departament d'Economia;2007-07Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Canvi exteriorMercat exteriorBancs centralsWhen do central banks prefer to intervene secretly?info:eu-repo/semantics/workingPaper339 - Comerç. Relacions econòmiques internacionals. Economia mundial. MàrquetingDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53182012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAslanidis, Nektarios2008-04-07T18:18:23Z200720071988 - 0812T - 1888- 2007http://hdl.handle.net/2072/5318We use a threshold seemingly unrelated regressions specification to assess whether the Central and East European countries (CEECs) are synchronized in their business cycles to the Euro-area. This specification is useful in two ways: First, it takes into account the common institutional factors and the similarities across CEECs in their process of economic transition. Second, it captures business cycle asymmetries by allowing for the presence of two distinct regimes for the CEECs. As the CEECs are strongly affected by the Euro-area these regimes may be associated with Euro-area expansions and contractions. We discuss representation, estimation by maximum likelihood and inference. The methodology is illustrated by using monthly industrial production in 8 CEECs. The results show that apart from Lithuania the rest of the CEECs experience “normal” growth when the Euro-area contracts and “high” growth when the Euro-area expands. Given that the CEECs are “catching up” with the Euro-area this result shows that most CEECs seem synchronized to the Euro-area cycle. Keywords: Threshold SURE; asymmetry; business cycles; CEECs. JEL classification: C33; C50; E32.application/pdfengDocuments de treball del Departament d'Economia;2007-08Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Cicles econòmicsEuropa CentralEuropa de l'EstBusiness Cycle Regimes in CEECs Production: A Threshold SURE Approachinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53192012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaLlop Llop, MariaPié Dols, Laia2008-04-07T18:23:39Z200720071988 - 0812T - 1889 - 2007http://hdl.handle.net/2072/5319The aim of the paper is to analyse the economic impact of alternative policies
implemented on the energy activities of the Catalan production system. Specifically, we
analyse the effects of a tax on intermediate energy uses, a reduction in the final production
of energy, and a reduction in intermediate energy uses. The methodology involves two
versions of the input-output price model: a competitive price formulation and a mark-up
price formulation. The input-output price framework will make it possible to evaluate how
the alternative measures modify production prices, consumption prices, private welfare,
and intermediate energy uses. The empirical application is for the Catalan economy and
uses economic data for the year 2001.application/pdfengDocuments de treball del Departament d'Economia;2007-09Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Política energèticaEnergiaImpostosCatalunyaEconomic impact of alternative policy measures implemented on the energy activities of the Catalan production system: an input-output analysisinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53602012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDahm, MatthiasGonzález, PaulaPorteiro Fresco, Nicolás2008-04-24T15:11:22Z200820081988 - 0812T – 811- 2008http://hdl.handle.net/2072/5360Scandals of selective reporting of clinical trial results by pharmaceutical firms have underlined the need for more transparency in clinical trials. We provide a theoretical framework
which reproduces incentives for selective reporting and yields three key implications concerning regulation. First, a compulsory clinical trial registry complemented through a voluntary
clinical trial results database can implement full transparency (the existence of all trials as
well as their results is known). Second, full transparency comes at a price. It has a deterrence
effect on the incentives to conduct clinical trials, as it reduces the firms'gains from trials.
Third, in principle, a voluntary clinical trial results database without a compulsory registry
is a superior regulatory tool; but we provide some qualified support for additional compulsory registries when medical decision-makers cannot anticipate correctly the drug companies'
decisions whether to conduct trials.
Keywords: pharmaceutical firms, strategic information transmission, clinical trials, registries, results databases, scientific knowledge
JEL classification: D72, I18, L15application/pdfengDocuments de treball del Departament d'Economia;2008-01Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Indústria farmacèuticaComunicació científicaAssaigs clínicsConeixement científicTrials, tricks and transparency: how disclosure rules affect clinical knowledgeinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53612012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaMartínez Ibáñez, OscarOlmo, José2008-04-24T15:27:09Z20082008T – 812 - 20081988 - 0812http://hdl.handle.net/2072/5361One of the main implications of the efficient market hypothesis (EMH) is that expected
future returns on financial assets are not predictable if investors are risk neutral. In this
paper we argue that financial time series offer more information than that this hypothesis
seems to supply. In particular we postulate that runs of very large returns can be predictable
for small time periods. In order to prove this we propose a TAR(3,1)-GARCH(1,1) model
that is able to describe two different types of extreme events: a first type generated by large
uncertainty regimes where runs of extremes are not predictable and a second type where
extremes come from isolated dread/joy events. This model is new in the literature in nonlinear
processes. Its novelty resides on two features of the model that make it different from previous
TAR methodologies. The regimes are motivated by the occurrence of extreme values and
the threshold variable is defined by the shock affecting the process in the preceding period.
In this way this model is able to uncover dependence and clustering of extremes in high
as well as in low volatility periods. This model is tested with data from General Motors
stocks prices corresponding to two crises that had a substantial impact in financial markets
worldwide; the Black Monday of October 1987 and September 11th, 2001. By analyzing the
periods around these crises we find evidence of statistical significance of our model and thereby
of predictability of extremes for September 11th but not for Black Monday. These findings
support the hypotheses of a big negative event producing runs of negative returns in the first
case, and of the burst of a worldwide stock market bubble in the second example.
JEL classification: C12; C15; C22; C51
Keywords and Phrases: asymmetries, crises, extreme values, hypothesis testing, leverage effect,
nonlinearities, threshold modelsapplication/pdfengDocuments de treball del Departament d'Economia;2008-02Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Crisis financeresObservacions aberrants (Estadística)Hipòtesi estadística -- ProvesTeories no-linealsA nonlinear threshold model for the dependence of extremes of stationary sequencesinfo:eu-repo/semantics/workingPaper519.1 - Teoria general de l'anàlisi combinatòria. Teoria de grafsDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53662012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFerré Carracedo, MontserratManzano, Carolina2008-05-06T13:49:40Z200820081988 - 0812T-835-2008http://hdl.handle.net/2072/5366In this article we develop a theoretical microstructure model of coordinated central bank intervention based on asymmetric information. We
study the economic implications of coordination on some measures of market quality and show that the model predicts higher volatility and more
significant exchange rate changes when central banks coordinate compared
to when they intervene unilaterally. Both these predictions are in line with
empirical evidence.
Keywords: coordinated foreign exchange intervention, market microstructure.
JEL Classification: D82, E58, F31, G14application/pdfengDocuments de treball del Departament d'Economia;2008-03Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Bancs centralsPlanificació centralitzadaModels economètricsEstructura econòmicaMarket effects of foreign exchange coordinated interventioninfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/53682012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAlcalde, JoséDahm, Matthias2008-05-06T14:16:30Z200820081988 - 0812T-836-2008http://hdl.handle.net/2072/5368We analyze (non-deterministic) contests with anonymous contest success functions.
There is no restriction on the number of contestants or on their valuations for the
prize. We provide intuitive and easily verifiable conditions for the existence of an
equilibrium with properties similar to the one of the (deterministic) all-pay auction.
Since these conditions are fulfilled for a wide array of situations, the predictions of
this equilibrium are very robust to the specific details of the contest. An application
of this result contributes to fill a gap in the analysis of the popular Tullock rent-
seeking game because it characterizes properties of an equilibrium for increasing
returns to scale larger than two, for any number of contestants and in contests with
or without a common value.
Keywords: (non-) deterministic contest, all-pay auction, contest success functions.
JEL Classification Numbers:
C72 (Noncooperative Games),
D72 (Economic Models of Political Processes: Rent-Seeking, Elections),
D44 (Auctions).application/pdfengDocuments de treball del Departament d'Economia;2008-04Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)SubhastesPolíticaModels economètricsRenda (Teoria econòmica)EleccionsJocs, Teoria deAll-pay auction equilibria in contestsinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/89502012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAslanidis, NektariosOsborn, Denise R.Sensier, Marianne2008-06-17T13:17:59Z200820081988 - 0812T-1029-2008http://hdl.handle.net/2072/8950This paper provides evidence on the sources of co-movement in monthly US and UK
stock price movements by investigating the role of macroeconomic and financial
variables in a bivariate system with time-varying conditional correlations. Crosscountry
communality in response is uncovered, with changes in the US Federal Funds
rate, UK bond yields and oil prices having similar negative effects in both markets.
Other variables also play a role, especially for the UK market. These effects do not,
however, explain the marked increase in cross-market correlations observed from
around 2000, which we attribute to time variation in the correlations of shocks to
these markets. A regime-switching smooth transition model captures this time
variation well and shows the correlations increase dramatically around 1999-2000.
JEL classifications: C32, C51, G15
Keywords: international stock returns, DCC-GARCH model, smooth transition
conditional correlation GARCH model, model evaluation.application/pdfengDocuments de treball del Departament d'Economia;2008-05Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Anàlisi de sèries temporalsModels economètricsFinances internacionalsCo-movements between US and UK stock prices: the roles of macroeconomic information and time-series varying conditional correlationsinfo:eu-repo/semantics/workingPaper339 - Comerç. Relacions econòmiques internacionals. Economia mundial. MàrquetingDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/92572012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaLiviano Solís, DanielManjón Antolín, Miguel C.2008200820081988 - 0812T-1176-2008http://hdl.handle.net/2072/9257This paper surveys recent evidence on the determinants of (national and/or foreign)
industrial location. We find that the basic analytical framework has remained
essentially unaltered since the early contributions of the early 1980's while, in contrast,
there have been significant advances in the quality of the data and, to a lesser extent,
the econometric modelling. We also identify certain determinants (neoclassical and
institutional factors) that tend to provide largely consistent results across the reviewed
studies. In light of this evidence, we finally suggest future lines of research.application/pdfengDocuments de treball del Departament d'Economia;2008-06Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialEmpirical studies in industrial location: an assessment of their methods and resultsinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/92592012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaSegarra Blasco, AgustíTeruel Carrizosa, Mercedes2008-09-23T14:31:47Z200820081988 - 0812T - 1177 - 2008http://hdl.handle.net/2072/9259This paper explores the effects of two main sources of innovation -intramural and external R&D- on the productivity level in a sample of 3,267 Catalonian firms. The data set used is based on the official innovation survey of Catalonia which was a part of the Spanish sample of CIS4, covering the years 2002-2004. We compare empirical results by applying usual OLS and quantile regression techniques both in manufacturing and services industries. In quantile regression, results suggest different patterns at both innovation sources as we move across conditional quantiles. The elasticity of intramural R&D activities on productivity decreased when we move up the high productivity levels both in manufacturing and services sectors, while the effects of external R&D rise in high-technology industries but are more ambiguous in low-technology and knowledge-intensive services. JEL codes: O300, C100, O140. Keywords: Innovation sources, R&D, Productivity, Quantile regressionapplication/pdfengDocuments de treball del Departament d'Economia;2008-07Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Investigació industrialEmpreses -- Innovacions tecnològiquesProductivitat industrialTecnologia -- InnovacionsAnàlisi de regressióInnovation sources and productivity in Catalonian firms: a quantile regression analysisinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/94932012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaCorchón, Luis C.Dahm, Matthias2008-09-23T14:50:57Z200820081988 - 0812T - 1178 - 2008http://hdl.handle.net/2072/9493In the literature the outcome of contests is either interpreted as win probabilities or
as shares of the prize. With this in mind, we examine two approaches to contest success
functions. In the first we analyze the implications of contestants' incomplete information
concerning the "type" of the contest administrator. While in the case of two contestants
this approach can rationalize prominent contest success functions, we show that it runs into
difficulties when there are more agents. Our second approach interprets contest success
functions as sharing rules and establishes a connection to bargaining and claims problems
which is independent of the number of contestants. Both approaches provide foundations for
popular contest success functions and guidelines for the definition of new ones.
Keywords: Endogenous Contests, Contest Success Function.
JEL Classification: C72 (Noncooperative Games), D72 (Economic Models of Political
Processes: Rent-Seeking, Elections), D74 (Conflict; Conflict Resolution; Alliances).application/pdfengDocuments de treball del Departament d'Economia;2008-08Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Ciències polítiques -- Models matemàticsFoundations for contest success functionsinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/95292012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaLlop Llop, MariaArauzo Carod, Josep Maria2008-09-23T15:14:15Z200820081988 - 0812T - 1324 - 2008http://hdl.handle.net/2072/9529In this paper we analyse the economic impact of a new museum (the Gaudí
Centre) on the local economy of Reus, a city in the province of Tarragona
(southern Catalonia). We use a Keynesian income multiplier model to evaluate
the effects of this new cultural venue on local income. In our calculation of the
economic impact we distinguish between two phases: the construction phase
and the exploitation phase. Our results show the important income impact of
this cultural investment on the local economy.application/pdfengDocuments de treball del Departament d'Economia;2008-09Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Reus -- Condicions econòmiquesMuseus -- ReusGaudí Centre (Reus)Economia urbanaEconomic impact of a new museum on the local economy: "The Gaudí Centre"info:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/132632012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAslanidis, NektariosSavva, Christos S.2009-01-19T16:38:26Z200820081988 - 0812T - 1618 - 2008http://hdl.handle.net/2072/13263This paper measures the degree in stock market integration between five Eastern
European countries and the Euro-zone. A potentially gradual transition in correlations
is accommodated by smooth transition conditional correlation models. We find that
the correlation between stock markets has increased from 2001 to 2007. In particular,
the Czech and Polish markets show a higher correlation to the Euro-zone. However,
this is not a broad-based phenomenon across Eastern Europe. We also find that the
increase in correlations is not a reflection of a world-wide phenomenon of financial
integration but appears to be specific to the European market.
JEL classifications: C32; C51; F36; G15
Keywords: Multivariate GARCH; Smooth Transition Conditional Correlation; Stock
Return Comovement; New EU Members.application/pdfengDocuments de treball del Departament d'Economia;2008-10Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Anàlisi de sèries temporalsModels economètricsIntegració econòmicaIntegració europeaFinances internacionalsEuropa de l'EstAmpliació de la Unió EuropeaStock market integration between new EU member
states and the Euro-zoneinfo:eu-repo/semantics/workingPaper339 - Comerç. Relacions econòmiques internacionals. Economia mundial. MàrquetingDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/132642012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAlcalde, JoséDahm, Matthias2009-01-19T17:14:13Z200820081988 - 0812T - 2122 - 2008http://hdl.handle.net/2072/13264Abstract
Despite the popularity of auction theoretical thinking, it appears that no one has
presented an elementary equilibrium analysis of the first-price sealed-bid auction
mechanism under complete information. This paper aims to remedy that omission.
We show that the existence of pure strategy undominated Nash equilibria requires
that the bidding space is not "too divisible" (that is, a continuum). In fact, when
bids must form part of a finite grid there always exists a "high price equilibrium".
However, there might also be "low price equilibria" and when the bidding space
is very restrictive the revenue obtained in these "low price equilibria" might be
very low. We discuss the properties of the equilibria and an application of auction
theoretical thinking in which "low price equilibria" may be relevant.
Keywords: First-price auctions, undominated Nash equilibria.
JEL Classification Numbers:
C72 (Noncooperative Games),
D44 (Auctions).application/pdfengDocuments de treball del Departament d'Economia;2008-11Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Jocs, Teoria dePreus -- FixacióEquilibri (Economia)Nash, Varietats deThe Complete Information First. Price Auction or the Importance of Being Indivisibleinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/132652012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAslanidis, NektariosDungey, MardiSavva, Christos S.2009-01-19T17:56:52Z200820081988 - 0812T - 2123 - 2008http://hdl.handle.net/2072/13265The advent of the European Union has decreased the diversification benefits available
from country based equity market indices in the region. This paper measures the increase in
stock integration between the three largest new EU members (Hungary, the Czech Republic
and Poland who joined in May 2004) and the Euro-zone. A potentially gradual transition in
correlations is accommodated in a single VAR model by embedding smooth transition
conditional correlation models with fat tails, spillovers, volatility clustering, and asymmetric
volatility effects. At the country market index level all three Eastern European markets show
a considerable increase in correlations in 2006. At the industry level the dates and transition
periods for the correlations differ, and the correlations are lower although also increasing. The
results show that sectoral indices in Eastern European markets may provide larger
diversification opportunities than the aggregate market.
JEL classifications: C32; C51; F36; G15
Keywords: Multivariate GARCH; Smooth Transition Conditional Correlation;
Stock Return Comovement; Sectoral correlations; New EU Membersapplication/pdfengDocuments de treball del Departament d'Economia;2008-12Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Anàlisi de sèries temporalsModels economètricsIntegració econòmicaIntegració europeaFinances internacionalsAmpliació de la Unió EuropeaHongriaRepública TxecaPolòniaProgress Towards to Equity Market Integration in Eastern Europeinfo:eu-repo/semantics/workingPaper339 - Comerç. Relacions econòmiques internacionals. Economia mundial. MàrquetingDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/132682012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDíaz Serrano, Luis2009-01-20T14:13:12Z200820081988 - 0812T - 2124 - 2008http://hdl.handle.net/2072/13268Residential satisfaction is often used as a barometer to assess the performance of public policy and programmes designed to raise individuals' well-being. However, the fact that responses elicited from residents might be biased by subjective, non-observable factors casts doubt on whether these responses can be taken as trustable indicators of the individuals' housing situation. Emotional factors such as aspirations or expectations might affect individuals' cognitions of their true residential situation. To disentangle this puzzle, we investigated whether identical residential attributes can be perceived differently depending on tenure status. Our results indicate that tenure status is crucial not only in determining the level of housing satisfaction, but also regarding how dwellers perceive their housing characteristics. Keywords: Housing satisfaction, subjective well-being, homeownership. JEL classification: D1, R2.application/pdfengDocuments de treball del Departament d'Economia;2008-13Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Economia domèsticaBenestarHabitatge -- Aspectes psicològicsLlarPropietatConsumidors -- SatisfaccióIndividual Aspirations and Satisfaction:Quantifying the Importance of Homeownershipinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/158092012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDahm, Matthias2009-05-19T14:06:26Z200920091988 - 0812T - 351 - 2009http://hdl.handle.net/2072/15809We consider a population of agents distributed on the unit interval. Agents form jurisdictions
in order to provide a public facility and share its costs equally. This creates an incentive
to form large entities. Individuals also incur a transportation cost depending on their location
and that of the facility which makes small jurisdictions advantageous. We consider a
fairly general class of distributions of agents and generalize previous versions of this model by
allowing for non-linear transportation costs. We show that, in general, jurisdictions are not
necessarily homogeneous. However, they are if facilities are always intraterritory and transportation
costs are superadditive. Superadditivity can be weakened to strictly increasing
and strictly concave when agents are uniformly distributed.
Keywords: Consecutiveness, stratification, local public goods, coalition formation, country
formation.
JEL Classification: C71 (Cooperative Games), D71 (Social Choice; Clubs; Committees;
Associations), H73 (Interjurisdictional Differentials and Their Effects).application/pdfengDocuments de treball del Departament d'Economia;2009-01Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Jocs cooperatiusElecció socialBéns públicsCoalició (Ciències socials)Desigualtats regionalsFree Mobility and Taste-Homogeneity of Jurisdiction Structuresinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/158102012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAslanidis, NektariosCipollini, Andrea2009-05-19T15:31:10Z20092009ISSN 1988 - 0812T - 352 - 2009http://hdl.handle.net/2072/15810In this paper we examine the out-of-sample forecast performance of high-yield credit
spreads regarding real-time and revised data on employment and industrial production
in the US. We evaluate models using both a point forecast and a probability forecast
exercise. Our main findings suggest the use of few factors obtained by pooling
information from a number of sector-specific high-yield credit spreads. This can be
justified by observing that, especially for employment, there is a gain from using a
principal components model fitted to high-yield credit spreads compared to the
prediction produced by benchmarks, such as an AR, and ARDL models that use either
the term spread or the aggregate high-yield spread as exogenous regressor. Moreover,
forecasts based on real-time data are generally comparable to forecasts based on revised
data.
JEL Classification: C22; C53; E32
Keywords: Credit spreads; Principal components; Forecasting; Real-time data.application/pdfengDocuments de treball del Departament d'Economia;2009-02Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Sèries temporals--AnàlisiPrevisió econòmica--Models economètricsCicles econòmicsProcessament de dades en temps realCrèditLeading indicator properties of US high-yield credit spreadsinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/158432012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaTheilen, Bernd2009-05-26T15:16:48Z200920091988 - 0812T - 546 - 2009http://hdl.handle.net/2072/15843The relationship between competition and performance-related pay has been analyzed
in single-principal-single-agent models. While this approach yields good predictions for
managerial pay schemes, the predictions fail to apply for employees at lower tiers of a
firm's hierarchy. In this paper, a principal-multi-agent model of incentive pay is developed
which makes it possible to analyze the effect of changes in the competitiveness of markets
on lower tier incentive payment schemes. The results explain why the payment schemes
of agents located at low and mid tiers are less sensitive to changes in competition when
aggregated firm data is used.
Journal of Economic Literature classiffication numbers: D82, J21, L13, L22.
Keywords: Cournot Competition, Contract Delegation, Moral Hazard, Entry, Market Size,
Wage Cost.application/pdfengDocuments de treball del Departament d'Economia;2009-03Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Mercat de treballOligopolis-Models economètricsRendiment industrialCompetència econòmicaMarket Competition and Lower Tier Incentivesinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/158442012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFlores-Fillol, Ricardo2009-05-26T15:34:03Z200920091988 - 0812T - 610 - 2009http://hdl.handle.net/2072/15844Hub congestion is a major problem and a relevant policy issue because it causes
delays and many organizational problems at airports that end up implying unpleasant
consequences both for air travelers and airlines. In a competitive framework in which
carriers choose aircraft size, this paper suggests that airlines schedule too many flights
using overly small aircraft, which constitutes a major contributor to congestion. Two-
part congestion tolls, accounting for the congestion imposed on other carriers and the
congestion imposed on all passengers, are needed to recover e¢ ciency. Finally, we
analyze the validity of the results by studying the effects of network size, airport
capacity, competition in layover time, and the formation of airline alliances.
Keywords: congestion; hub-and-spoke networks; overprovision of frequency; con-
gestion internalization; congestion tolls
JEL Classiffication Numbers: L13; L2; L93application/pdfengDocuments de treball del Departament d'Economia;2009-04Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)OligopolisOrganització industrialAviació comercialAeroports-Direcció i administracióCongested hubsinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/158452012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaOliva, MartíCarles Lavila, Misericòrdia2009-05-26T15:48:56Z200920091988 - 0812T - 757 - 2009http://hdl.handle.net/2072/15845Presentamos un modelo de diferenciación vertical y horizontal de productos que explica la dispersión de
precios de la industria de seguros sanitarios con prestación de servicios en España. El modelo capta la
competencia en precios de grandes aseguradoras con pequeñas mutualidades de ámbito local y establece
que las primeras cargan, en general, primas mayores. También obtenemos que, aunque el mercado
permite la entrada de un número excesivo de empresas, la presencia de aseguradoras de ámbito local
aumenta el bienestar social, al completar la gama de productos disponibles por los consumidores, a partir
de unos reducidos costes de entrada en la industria.
Organización industrial, seguros sanitarios, economía de la saludapplication/pdfspaDocuments de treball del Departament d'Economia;2009-05Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Organització industrialAssegurances de malaltiaEconomia de la salutDispersión de precios en la industria de seguros sanitarios privadosinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/158462012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaBilotkach, VolodymyrFageda, XavierFlores-Fillol, Ricardo2009-05-26T17:09:06Z200920091988 - 0812T - 787 - 2009http://hdl.handle.net/2072/15846This paper presents a theoretical and empirical analysis of the relationship be-
tween frequency of scheduled transportation services and their substitutability with
personal transportation (using distance as a proxy). We study the interaction between
a monopoly firm providing a high-speed scheduled service and private transportation
(i.e., car). Interestingly, the carrier chooses to increase the frequency of service on
longer routes when competing with personal transportation because by providing higher
frequency (at extra cost) it can also charge higher fares which can boost its profits.
However, in line with the results of earlier studies, frequency decreases for longer flights
when driving is not a viable option. An empirical application of our analysis to the
European airline industry confirms the predictions of our theoretical model.
Keywords: short-haul routes; long-haul routes; flight frequency; distance
JEL Classification Numbers: L13; L2; L93application/pdfengDocuments de treball del Departament d'Economia;2009-06Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)OligopolisOrganització industrialAviació comercialAviació-VolsTransport públicScheduled Service Versus Personal Transportation: The Role of Distanceinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/158472012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAslanidis, Nektarios2009-05-26T17:27:03Z200920091988 - 0812T - 803 - 2009http://hdl.handle.net/2072/15847The empirical finding of an inverse U-shaped relationship between per capita income and pollution, the so-called Environmental Kuznets Curve (EKC), suggests that as countries experience economic growth, environmental deterioration decelerates and thus becomes less of an issue. Focusing on the prime example of carbon emissions, the present article provides a critical review of the new econometric techniques that have questioned the baseline polynomial specification in the EKC literature. We discuss issues related to the functional form, heterogeneity, “spurious” regressions and spatial dependence to address whether and to what extent the EKC can be observed. Despite these new approaches, there is still no clear-cut evidence supporting the existence of the EKC for carbon emissions. JEL classifications: C20; Q32; Q50; O13 Keywords: Environmental Kuznets Curve; Carbon emissions; Functional form; Heterogeneity; “Spurious” regressions; Spatial dependence.Residential satisfaction is often used as a barometer to assess the performance of public policy and programmes designed to raise individuals' well-being. However, the fact that responses elicited from residents might be biased by subjective, non-observable factors casts doubt on whether these responses can be taken as trustable indicators of the individuals' housing situation. Emotional factors such as aspirations or expectations might affect individuals' cognitions of their true residential situation. To disentangle this puzzle, we investigated whether identical residential attributes can be perceived differently depending on tenure status. Our results indicate that tenure status is crucial not only in determining the level of housing satisfaction, but also regarding how dwellers perceive their housing characteristics. Keywords: Housing satisfaction, subjective well-being, homeownership. JEL classification: D1, R2.application/pdfengDocuments de treball del Departament d'Economia;2009-07Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Recursos naturalsDesenvolupament econòmicEconomia-Aspectes ambientalsCarboniEmissions atmosfèriquesModels economètricsEnvironmental Kuznets Curves for Carbon Emissions: A Critical Surveyinfo:eu-repo/semantics/workingPaper504 - Ciències del medi ambientDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428632012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaTheilen, Bernd2009-12-10T18:11:28Z200920091988 - 0812T - 1278 - 2009http://hdl.handle.net/2072/42863This paper analyzes the delegation of contracting capacity in a moral hazard environment with sequential
production in a project which involves a principal and two agents. The agent in charge of the
nal production
can obtain soft information about the other agent's effort choice by investing in monitoring. I investigate the
circumstances under which it is optimal for the principal to use a centralized organization in which she designs
the contracts with both agents or to use a decentralized organization in which she contracts only one agent, and
delegates the power to contract the other agent. It is shown that in this setting a decentralized organization can
be superior to a centralized organization. This is because the principal is better off under monitoring and the
incentives for an agent to invest in monitoring can be higher in a decentralized organization. The circumstances
under which this is true are related to the monitoring costs and the importance of each agent for production.
The results explain the recent application of the design-build method in public procurement.
Journal of Economic Literature Classi
cation Numbers: D23, D82, L14, L22.
Keywords: Decentralization of Contracting, Monitoring, Moral Hazard.application/pdfengDocuments de treball del Departament d'Economia;2009-08Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Conducta organitzacionalContractació externaDecentralization and the Gains from Monitoringinfo:eu-repo/semantics/workingPaper65 - Gestió i organització. Administració i direcció d'empreses. Publicitat. Relacions públiques. Mitjans de comunicació de massesDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428652012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaIranzo, SusanaPeri, Giovanni2009-12-10T18:33:05Z200920091988 - 0812T - 1279 - 2009http://hdl.handle.net/2072/42865The remarkable increase in trade flows and in migratory flows of highly educated people are two important
features of globalization of the last decades. This paper extends a two-country model of inter- and intraindustry
trade to a rich environment featuring technological differences, skill differences and the possibility
of international labor mobility. The model is used to explain the patterns of trade and migration as countries
remove barriers to trade and to labor mobility. We parameterize the model to match the features of the
Western and Eastern European members of the EU and analyze first the effects of the trade liberalization
which occured between 1989 and 2004, and then the gains and losses from migration which are expected to
occur if legal barriers to labor mobility are substantially reduced. The lower barriers to migration would
result in significant migration of skilled workers from Eastern European countries. Interestingly, this would
not only benefit the migrants and most Western European workers but, via trade, it would also benefit the
workers remaining in Eastern Europe.
Key Words: Skilled Migration, Gains from Variety, Real Wages, Eastern-Western Europe.
JEL Codes: F12, F22, J61.application/pdfengDocuments de treball del Departament d'Economia;2009-09Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Competència econòmica imperfectaEmigració i immigracióImmigrants -- TreballMobilitat laboralMigration and trade: Theory with an Application to the Eastern- Western European Integrationinfo:eu-repo/semantics/workingPaper331 - Treball. Relacions laborals. Ocupació. Organització del treballDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428662012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaArauzo Carod, Josep MariaManjón Antolín, Miguel C.2009-12-10T18:41:14Z200920091988 - 0812T - 1280 - 2009http://hdl.handle.net/2072/42866Empirical studies on the determinants of industrial location typically use
variables measured at the available administrative level (municipalities,
counties, etc.). However, this amounts to assuming that the effects these
determinants may have on the location process do not extent beyond the
geographical limits of the selected site. We address the validity of this
assumption by comparing results from standard count data models with those
obtained by calculating the geographical scope of the spatially varying
explanatory variables using a wide range of distances and alternative spatial
autocorrelation measures. Our results reject the usual practice of using
administrative records as covariates without making some kind of spatial
correction.
Keywords: industrial location, count data models, spatial statistics
JEL classification: C25, C52, R11, R30application/pdfengDocuments de treball del Departament d'Economia;2009-10Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialAnàlisi espacial (Estadística)Models economètricsEconomia regional(Optimal) Spatial Aggregation in the Determinants of Industrial Locationinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428672012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaManjón Antolín, Miguel C.Añón Higón, Dolores2009-12-10T19:02:08Z200920091988 - 0812T - 1281 - 2009http://hdl.handle.net/2072/42867R&D investment is an important driver of productivity gains. However, firms differ in their ability to appropiate the returns to their R&D efforts. This paper analyses to what extent firm's internationalization influences the endogenous relation between R&D and productivity. In particular, we assess the contribution of R&D to productivity for a panel of UK firms that differ in their degree of internationalization. We find that, on average, multinationals obtain higher gains from their investment in R&D. However, the influence of internationalization on the contribution of R&D to productivity varies along the distribution of the returns to R&D.
Keywords: R&D, Multinationals, Productivity.
JEL Codes: C14, D24, F23.application/pdfengDocuments de treball del Departament d'Economia;2009-11Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Investigació industrialEmpreses multinacionalsProductivitat industrialDoes Internationalization Alter the R&D-Productivity Relationship?info:eu-repo/semantics/workingPaper65 - Gestió i organització. Administració i direcció d'empreses. Publicitat. Relacions públiques. Mitjans de comunicació de massesDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428702012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaMañé Vernet, FerranBenner, Chris2009-12-10T19:11:26Z200920091988 - 0812T - 1282 - 2009http://hdl.handle.net/2072/42870Employment in call centers has grown significantly throughout the world over the past 15 years. In debates about the quality of these new jobs, there are few studies that specifically address promotion opportunities. Using a survey of over 2400 call centers in 16 countries, this paper documents levels and analyzes factors shaping promotions in call centers, and discusses implications for promotions in the service sector generally. On average, less than 10% of call center agents are promoted in any year--5.7% promoted internally to the call center, and 4% promoted elsewhere in the business. Firms that have more complex labor processes and require agents to have higher levels of firm-specific knowledge tend to also have greater promotion opportunities, which might be expected. There are also unexpected findings, including that increased autonomy in the workplace often provides a ‘substitute' to advancement opportunities, and that unionization is associated with fewer advancement opportunities within call centers, though more advancement opportunities to other parts of the business. Key words: promotions, service industries, call centers.application/pdfengDocuments de treball del Departament d'Economia;2009-12Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Centres d'atenció telefònicaEmpreses de serveisPromoció professionalDead-End Jobs or Career Opportunities? Advancement opportunities in call centersinfo:eu-repo/semantics/workingPaper65 - Gestió i organització. Administració i direcció d'empreses. Publicitat. Relacions públiques. Mitjans de comunicació de massesDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428922012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaSegarra Blasco, AgustíTeruel Carrizosa, Mercedes2009-12-11T17:48:08Z200920091988 - 0812T - 1283 - 2009http://hdl.handle.net/2072/42892This paper explores the effects of two main sources of innovation - intramural and external R&D— on the productivity level in a sample of 3,267 Catalonian firms. The data set used is based on the official innovation survey of Catalonia which was a part of the Spanish sample of CIS4, covering the years 2002-2004. We compare empirical results by applying usual OLS and quantile regression techniques both in manufacturing and services industries. In quantile regression, results suggest different patterns at both innovation sources as we move across conditional quantiles. The elasticity of intramural R&D activities on productivity decreased when we move up the high productivity levels both in manufacturing and services sectors, while the effects of external R&D rise in high-technology industries but are more ambiguous in low-technology and knowledge-intensive services. JEL codes: O300, C100, O140 Keywords: Innovation sources, R&D, Productivity, Quantile Regressionapplication/pdfengDocuments de treball del Departament d'Economia; 2009-13Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Empreses -- InnovacionsInvestigació industrialProductivitat industrialInnovation sources and productivity in Catalonian firms: a quantile regression analysisinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428952012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDíaz Serrano, LuisStoyanova, Alexandrina Petrova2009-12-11T18:55:57Z200920091988 - 0812T - 1284 - 2009http://hdl.handle.net/2072/42895Using panel data for twelve EU countries, we analyze the relationship between selfreported housing satisfaction and residential mobility. Our results indicate the existence of a positive link between the two variables and that housing satisfaction exerts a mediating effect between residential characteristics and dwellers' mobility propensities. Some interesting cross-country differences regarding the effect of other variables on mobility are also observed. Our results can be used in defining, implementing and evaluating housing and neighbourhood policies. Residential satisfaction is put forward as one of the most appropriate indicators of the success or failure of such policies. Keywords: Housing satisfaction, residential mobility JEL classification: R21, D19application/pdfengDocuments de treball del Departament d'Economia;2009-14Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Mobilitat residencialHabitatge, Política de l'Economia domèsticaMobility and Housing Satisfaction: An Empirical Analysis for Twelve EU Countriesinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428972012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDíaz Serrano, LuisFerrer Carbonell, AdaHartog, Joop2009-12-11T19:12:02Z200920091988 - 0812T - 1285 - 2009http://hdl.handle.net/2072/42897We replicate Shaw (1996) who found that individual wage growth is higher for
individuals with greater preference for risk taking. Expanding her dataset with more
American observations and data for Germany, Spain and Italy, we find mixed support
for the earlier results. We present and estimate a new model and find that in particular
the wage level is sensitive to attitudes towards risk taking.
Comments given at the Labour Economics Conference in honour of Niels Westergaard
(Nyborg, August 2008) and EALE 2008 (Amsterdam) and at seminars in
Maastricht,Reus and Essen (RWI) are gratefully acknowledged. The authors also
acknowledge financial support from the Spanish Ministry of Science and Innovation
(grant number SEJ2007-66318) and from the Barcelona Economics Program of CREA.
JEL code: J24; J30.
Key words: wage growth, risk, post-school investment.application/pdfengDocuments de treball del Departament d'Economia;2009-15Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)SalarisOcupació, Cerca d'Promoció professionalRisk Attitude And Wage Growth: Replication And Reconstructioninfo:eu-repo/semantics/workingPaper331 - Treball. Relacions laborals. Ocupació. Organització del treballDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/428982012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDíaz Serrano, LuisFerrer Carbonell, AdaHartog, Joop2009-12-11T19:26:42Z200920091988 - 0812T - 1286 - 2009http://hdl.handle.net/2072/42898There is a general consensus that homeownership has beneficial effects for both individuals and society in many outcomes. However, research regarding the effect of homeownership on individuals' subjective well-being remains inconclusive. In this paper, for the first time, we provide empirical evidence for the link between homeownership and housing satisfaction using panel data. We use the eight waves of the European Community Household Panel (ECHP) covering the period 1994-2001. We observe that renters who become homeowners not only experience a significant increase in housing satisfaction, but also after changing their tenure status, they obtain a different utility from the same housing context. This evidence might provide support to the hypothesis that a share of the differences in the perceived utility derived from housing can be attributed to (un)fulfilled expectations or aspirations regarding homeownership. Keywords: Housing satisfaction, subjective well-being, homeownership, fixed-effects, housing aspirations JEL classification: D1, R2.application/pdfengDocuments de treball del Departament d'Economia;2009-16Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)HabitatgeSatisfaccióBenestarBéns immoblesDisentangling the Housing Satisfaction Puzzle: Does Homeownership Really Matter?info:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/438592012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaStoyanova, Alexandrina PetrovaDíaz Serrano, Luis2010-02-23200920091988 - 0812T - 2116 - 2009http://hdl.handle.net/2072/43859El fenómeno de la inmigración está transformando las sociedades receptoras.
Un creciente número de estudios revela que la reciente inmigración en España es
principalmente motivada por razones económicas y por tanto se trata de una población
compuesta por gente joven, cualificada y sana. Por otro lado, hay cada vez más
evidencia sobre la relevancia del capital social sobre la salud. Nuestro trabajo pretende
crear un puente entre la literatura sobre la inmigración y la que relaciona el capital
social y la salud. El presente trabajo tiene un doble objetivo. Por un lado, queremos
dilucidar la verdadera relación entre el capital social y la salud utilizando por primera
vez datos de Cataluña. Por otro lado, pretendemos determinar un posible efecto
diferencial del capital social sobre la salud en tres grupos de población, más
concretamente, los nacidos en Cataluña, los españoles nacidos fuera de Cataluña y los
inmigrantes extranjeros. Utilizamos datos de la Encuesta de Salud de Cataluña 2006,
que contiene una muestra representativa del colectivo inmigrante. Los indicadores
contextuales provienen de fuentes alternativas. Para determinar la relación entre el
capital social y la salud (salud auto-percibida y salud mental, GHQ-12), controlando por
otros factores determinantes, estimados modelos multinivel separadamente para las tres
muestras poblacionales. Distinguimos entre capital social individual y capital social
comunitario. Nuestros resultados revelan que el capital social individual tiene mayor
impacto sobre la salud que el capital social comunitario. Sin embargo,
independientemente de los indicadores de capital social empleados en el análisis,
observamos que el capital social ejerce un efecto beneficioso tanto para la salud física
como la salud mental en Cataluña. Además, encontramos que las redes sociales son más
importantes para la salud de la población autóctona, que para la salud de los inmigrantes.
Creemos que potenciar la acumulación de capital social puede ser un instrumento
potencialmente eficaz (y que requiere, en comparación con otras medidas políticas,
menos recursos económicos) para la consecución de los objetivos relacionados con la
mejora de la salud y la reducción de las desigualdades en salud entre los colectivos de
nativos e inmigrantes.
Palabras clave: estado de salud, capital social, inmigraciónapplication/pdfspaDocuments de treball del Departament d'Economia;2009-17Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)SalutImmigracióCapital socialPoblació autòctonaCatalunyaEl impacto diferencial del capital social sobre la salud de la población autóctona y los inmigrantes residentes en Cataluñainfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/438602012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaPié Dols, LaiaSáez, Marc2010-02-23T15:57:43Z200920091988 - 0812T - 2117 - 2009http://hdl.handle.net/2072/43860As is known, the Kyoto Protocol proposes to reinforce national policies for emission
reduction and, furthermore, to cooperate with other contracting parties. In this
context, it would be necessary to assess these emissions, both in general and
specifically, by pollutants and/or among productive sectors. The object of this
paper is precisely to estimate the polluting emissions of industrial origin in
Catalonia in the year 2001, in a multivariate context which explicitly allows a
distinction to be made between the polluter and/or the productive sector causing
this emission.
Six pollutants considered, four directly related to greenhouse effect. A multi-level
model, with two levels, pollutants and productive sectors, was specified. Both
technological progress and elasticity of capital were introduced as random effects.
Hence, it has been permitted that these coefficients vary according to one or other
level. The most important finding in this paper is that elasticity of capital has been
estimated as very non-elastic, with a range which varies between 0.162 (the paper
industry) and 0.556 (commerce). In fact, and generally speaking, the greater
capital the sector has, the less elasticity of capital has been estimated.
Key words: Kyoto protocol, multilevel model, technological progressapplication/pdfengDocuments de treball del Departament d'Economia;2009-18Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Kyoto Protocol, 1997Progrès tecnològicContaminacióEmissions atmosfèriquesCatalunyaRelationship between technological progress, capital elasticity and emissions of industrial pollutants for the production sectors in Cataloniainfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/438612012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaLlop Llop, MariaPié Dols, Laia2010-02-23T16:06:13Z200920091988 - 0812T - 2118 - 2009http://hdl.handle.net/2072/43861The aim of this paper is the analysis of the Catalan economy (2001) with the use of a National Accounting Matrix with environmental accounts (NAMEA) for the Catalan economy with 2001 data. We will focus on the analysis of the emission multipliers and we will also analyse the impact of a 10% reduction in greenhouse emissions on emission multipliers. This emission-reduction percentage would bring the Catalan economy into compliance with the maximum emissions level allowed by the Kyoto Protocol. We consider three possible scenarios that would allow this goal to be met. First, we will simulate a 10% reduction in regional emissions and a 5% drop in the endogenous income of the multipliers' model (production, factorial and private income). Second, we will simulate a 10% reduction in emissions and a 10% increase in endogenous income. Finally, we will simulate a 10% reduction in emissions and a 5% increase in endogenous income. Additionally, we will analyse the decomposition of the emission multipliers into own effects, open effects and circular effects to capture the different channels of the emission generation process. Keywords: NAMEA, emission multipliers, Kyoto Protocol.application/pdfengDocuments de treball del Departament d'Economia;2009-19Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Economia -- Aspectes ambientalsCatalunyaMedi ambient -- DespesaThe Analysis of Accounting Multipliers: The NAMEA Approach in the Case of Cataloniainfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/438622012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaManzano, CarolinaVives, Xavier2010-02-23T16:17:01Z200920091988 - 0812T - 2119 - 2009http://hdl.handle.net/2072/43862This paper studies the implications of correlation of private signals
about the liquidation value of a risky asset in a variation of a standard
noisy rational expectations model in which traders receive endowment
shocks which are private information and have a common component.
We
nd that a necessary condition to generate multiple linear partially
revealing rational expectations equilibria is the existence of several sources
of information dispersion. In this context equilibrium multiplicity tends
to occur when information is more dispersed. A necessary condition to
have strategic complementarity in information acquisition is to have mul-
tiple equilibria. When the equilibrium is unique there is strategic substi-
tutability in information acquisition, corroborating the result obtained in
Grossman and Stiglitz (1980).
JEL Classi
cation: D82, D83, G14
Keywords: Multiplicity of equilibria, strategic complementarity, asym-
metric information.application/pdfengDocuments de treball del Departament d'Economia;2009-20Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Informació -- Aspectes econòmicsIncertesa (Teoria de la informació)Eficiència (Estadística)Mercat de capitalsInformation Dispersion and Equilibrium Multiplicityinfo:eu-repo/semantics/workingPaper336 - Finances. Banca. Moneda. BorsaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/438632012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaMartín Bofarull, MònicaGarcía Alonso, Lorena2010-02-23T16:31:02Z200920091988 - 0812T - 2120 - 2009http://hdl.handle.net/2072/43863The aim of this paper is to discuss the circumstances in which the process of competition
between ports takes place in Spain − circumstances arising from the way the port system
is currently set up and from the regulations governing it. The importance of this matter lies
both in the fact that intensified competition between ports is the way to set about boosting
the efficiency of the Spanish port sector and in the relevance of this business to the
economies of the regions in which the ports are located. It is precisely for this reason that
the reform instituted in 1992 aimed to combine balanced development of the national port
system with the defence of the interests of autonomous regions. To this end the current
regulatory framework provides for the possibility of port authorities drawing up their own
competitive strategies, but makes their implementation conditional upon approval of their
business plan by the Spanish state port authority. The latter body coordinates the national
port system to ensure the guidelines set by the central government authorities are followed
in the field of transport. However, the scale of the differences which exist among both the
size of facilities and their relevant markets on the one hand, and the financial and economic
circumstances of each of them on the other, suggest that each port authority's needs must
be very different. Consequently, their competitive strategies must also be very different. It is
therefore valid to ask whether coping with this diversity calls for different guidelines to
regulate their freedom of action.
Key words: Competition, regulation, port sector
JEL classification numbers: L1, L5, L9application/pdfengDocuments de treball del Departament d'Economia;2009-21Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)PortsEspanyaRegulació del mercatCompetència econòmicaSome Considerations Concerning Regulation and Competition in the Port Sectorinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/438692012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDahm, MatthiasDur, RobertGlazerz, Amihai2010-02-23T18:33:06Z200920091988 - 0812T - 2121 - 2009http://hdl.handle.net/2072/43869A firm may induce voters or elected politicians to support a policy it favors by suggesting that it is more likely to invest in a district whose voters or representatives support the policy. In equilibrium, no one vote may be decisive, and the policy may gain strong support though the majority of districts suffer from adoption of the program. When votes reveal information about the district, the firm's implicit promise or threat can be credible.application/pdfengDocuments de treball del Departament d'Economia;2009-22Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Vot -- InvestigacióPolítica públicaGrups de pressióPolítica -- Aspectes socialsEmpreses -- Aspectes políticsLobbying of Firms by Votersinfo:eu-repo/semantics/workingPaper32 - PolíticaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1484752012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAslanidis, NektariosSavva, Christos S.2011-05-09T15:23:29Z201020101988 - 0812T - 1458 - 2010http://hdl.handle.net/2072/148475This paper examines the effects of the current financial crisis on the correlations of four
international banking stocks. We find that in the beginning of the crisis banks generally
show a transition to a higher correlation followed by a dramatic decline towards the end
of 2008. These findings are consistent with both traditional contagion theory and the
more recent network theory of contagion.
JEL classifications: C51; G15
Keywords: Financial Crises; Contagion; Interbank Markets.application/pdfengDocuments de treball del Departament d'Economia;2010-01Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Mercats financersModels economètricsCrisis financeresBancsInstitucions financeresModelling Interbank Relations during the International Financial Crisisinfo:eu-repo/semantics/workingPaper336 - Finances. Banca. Moneda. BorsaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1484762012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDíaz Serrano, Lluís2011-05-09T15:31:23Z201020101988 - 0812T - 1459 - 2010http://hdl.handle.net/2072/148476The precondition for labour-market competition between immigrants and natives is that both are willing to accept jobs that do not differ in quality. To test this hypothesis, in this paper we compare the working conditions between immigrants and natives in Catalonia. Comparing immigrants’ working conditions in relation to their native counterparts is not only a useful analysis for studying the extent to which immigrants and low-skilled native workers are direct competitors in the labour market, but also allows us to contribute to the literature on this issue by moving away from the conventional approach used in previous studies. Our results indicate that: i) natives and immigrants display a different taste for job (dis)amenities; ii) Catalan-born workers might be in direct competition with EU15 immigrants, while non-Catalan Spanish workers might be competing with Latin American immigrants, and; iii) African-born immigrants are the group in the Catalan workforce that by far face the worst working conditions.application/pdfengDocuments de treball del Departament d'Economia;2010-02Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Mercat de treballCatalunyaTreballadors estrangersImmigrantsCondicions de treballQualitat de vida en el treballSatisfacció en el treballDo Legal Immigrants and Natives Compete in the Labour Market? Evidence from Cataloniainfo:eu-repo/semantics/workingPaper331 - Treball. Relacions laborals. Ocupació. Organització del treballDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1484782012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaCorbella i Domenech, TeresaDomingo Vernis, Misericòrdia2011-05-09T15:43:33Z20102010ISSN 1988 - 0812T - 1460 - 2010http://hdl.handle.net/2072/148478Every year, the World Economic Forum publishes the World Gender Gap Report mainly based
on the results of the Global Gender Gap Index (GGGI) computed by country. This index is
made out of four subindexes to capture the magnitude of the gender gap in 4 areas: educational
attainment, economic participation and opportunity, political empowerment, and health and
survival; its methodology was reformed in 2006.
In this paper we adapt the GGGI to construct a Regional Gender Gap Index (RGGI) and we
compute it by regions (Comunidades Autónomas) in Spain with 2006 data. The RGGI could be
applied to other regions. Results of the RGGI show that not only are there gender gap
differences between Spanish regions in Spain, but that there are at the political empowerment
and economic participation and opportunity categories that those differences are strongest.
Geographic distribution of the gender gap shows that the deepest gaps are, in general, located
in the northern regions (Euskadi, with a high score, and Murcia and Extremadura, with low
scores, being exceptions); this is mainly due to the poor participation in politics of women in
those regions.application/pdfengDocuments de treball del Departament d'Economia;2010-03Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Discriminació sexualEspanyaComunitats autònomesGender gap index in Spain by regionsinfo:eu-repo/semantics/workingPaper316 - Sociologia. ComunicacióDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1484792012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaPickhardt, MichaelSardà Pons, Jordi2011-05-09T15:50:28Z201020101988 - 0812T - 1461 - 2010http://hdl.handle.net/2072/148479Based on the Ahumada et al. (2007, Review of Income and Wealth) critique we
revise existing estimates of the size of the German underground economy. Among other
things, it turns out that most of these estimates are untenable and that the tax pressure induced
size of the German underground economy may be much lower than previously thought. To
this extent, German policy and law makers have been misguided during the last three decades.
Therefore, we introduce the Modified-Cash-Deposit-Ratio (MCDR) approach, which is not
subject to the recent critique and apply it to Germany for the period 1960 to 2008.
JEL: O17, Q41, C22, Keywords: underground economy, shadow economy, cash-depositratio,
currency demand approach, MIMIC approachapplication/pdfengDocuments de treball del Departament d'Economia;2010-04Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Economia submergidaAlemanyaFlux de caixaDesenvolupament econòmicOferta i demandaVariables (Matemàtica)The size of the underground economy in Germany: A correction of the record and new evidence from the Modified-Cash-deposit-Ratio approachinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1484812012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaCorchón, Luis C.Dahm, Matthias2011-05-09T16:02:15Z201020101988 - 0812T - 1462 - 2010http://hdl.handle.net/2072/148481We analyze how a contest organizer chooses optimally the winner when the contestants'
efforts are already exerted and commitment to the use of a given contest success function
is not possible. We de…ne the notion of rationalizability in mixed-strategies to capture such
a situation. Our approach allows to derive different contest success functions depending
on the aims and attitudes of the decider. We derive contest success functions which are
closely related to commonly used functions providing new support for them. By taking into
account social welfare considerations our approach bridges the contest literature and the
recent literature on political economy.
Keywords: Endogenous Contests, Contest Success Function, Mixed-Strategies.
JEL Classi…cation: C72 (Noncooperative Games), D72 (Economic Models of Political
Processes: Rent-Seeking, Elections), D74 (Conflict; Conflict Resolution; Alliances)application/pdfengDocuments de treball del Departament d'Economia;2010-05Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Teoria de jocsCiències polítiques -- Models matemàticsPresa de decisionsWelfare Maximizing Contest Success Functions when the Planner Cannot Commitinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1484822012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaPablo Martí, FedericoArauzo Carod, Josep Maria2011-05-09T18:49:22Z201020101988 - 0812T - 1835 - 2010http://hdl.handle.net/2072/148482The aim of this paper is to analyse the colocation patterns of industries and
firms. We study the spatial distribution of firms from different industries at a
microgeographic level and from this identify the main reasons for this locational
behaviour. The empirical application uses data from Mercantile Registers of
Spanish firms (manufacturers and services). Inter-sectorial linkages are shown
using self-organizing maps.
Key words: clusters, microgeographic data, self-organizing maps, firm location
JEL classification: R10, R12, R34application/pdfengDocuments de treball del Departament d'Economia;2010-06Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialDesigualtats econòmiques regionalsEconomia regionalEntrada/SortidaSistemes productius localsSpatial distribution of economic activities: an empirical approach usingself-organizing mapsinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515422012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAlañón Pardo, ÁngelArauzo Carod, Josep Maria2011-05-10T12:37:27Z201020101988 - 0812T - 1836 - 2010http://hdl.handle.net/2072/151542This article analyses how agglomeration economies shaped the location decisions of
new manufacturing start-ups in Catalan municipalities in 2001-2005. We estimate
whether the locations of new firms are spatially autocorrelated and whether this
phenomenon is industry-specific. Our aim is to estimate the geographical scope of
agglomeration economies on firm entries. The data set comes from a compulsory
register of manufacturing establishments (REIC: Catalan Manufacturing Establishments
Register).
JEL classification: R1, R3
Keywords: firm location; spatial autocorrelationapplication/pdfengDocuments de treball del Departament d'Economia;2010-07Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialEconomia regionalCatalunyaOn the effect of the geographical scope of agglomeration economies on firm locationinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515432012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaCarreras Roig, Lluís2011-05-10T12:48:49Z201020101988 - 0812T - 1837 - 2010http://hdl.handle.net/2072/151543En este trabajo se hace referencia a la posible consideración de las sociedades
cooperativas como sociedades mercantiles, cumpliéndose determinadas
circunstancias, y ello sin pérdida de sus características específicas en cuanto a la
toma de decisiones, el reparto de beneficios y la búsqueda de la satisfacción de fines
de interés general.
Asimismo, se analizan las consecuencias de aumentar el porcentaje de operaciones
realizadas con terceros no socios, respecto del total de operaciones realizadas por la
sociedad cooperativa, y su incidencia en la cuantía de los fondos de la cooperativa y
en la retribución del socio cooperativista. Se realiza en este punto una comparación
con las sociedades capitalistas convencionales (S.A., S.L.).
Finalmente, se propone una reforma legislativa al objeto de permitir aumentar el
porcentaje de realización de operaciones cooperativizadas con terceros no socios, y
ello sin pérdida de su tratamiento fiscal favorable.
PALABRAS CLAVE: Cooperativas, mercantilidad, mutualismo, operaciones con
terceros, régimen fiscal, reformas legislativas.
CLAVES ECONLIT: P130, Q130, L310Cooperatives: le comerce et les transactions avec les tiers. Un commentaire
RÉSUMÉ: Le présent document se réfère à la prise en considération éventuelle des
sociétés coopératives comme sociétés commerciales, répondant à certaines
conditions et sans perte de ses caractéristiques spédifiques en termes de prise de
decisión, le partage des avantages et la recherche de la satisfaction d´intéret général.
Nous analysons également l´effet d’ augmentar le pourcentage de transactions avec
des tiers à l’égard de toutes les transactions effectuées par la coopérative, et son
impact sur le montant des fonds de la coopérative et la rémunération des membres de
la coopérative. Se fait à ce point la comparaison avec les sociétés capitalistes
classiques (S.A., S.L.).
Enfin, nous proposons une réforme législative afin de permettre une augmentation du
pourcentage de réalisation des transactions avec des tiers dans les coopératives, et
sans perte de leur traitement fiscal favorable.Cooperatives: Commercial and transactions with third parties. A commentary
ABSTRACT: This paper refers to the possible consideration of cooperative societies as
a commercial companies, fulfilling certain circumstances and without loss of its specific
characteristics in terms of decision-making, benefit sharing and the search for
satisfaction general interest.
We also analyze the effect of increasing the percentage of transactions with third
parties in respect of all transactions undertaken by the cooperative, and its impact on
the amount of the funds of the cooperative and the pay of a collaborator. Is done at this
point a comparison with conventional capitalist societies (S.A, S.L.).
Finally, we propose a legislative reform in order to allow and increase in the percentage
of completion of transactions with third parties in cooperatives, and without loss of
favorable tax treatment.application/pdfspaDocuments de treball del Departament d'Economia;2010-08Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)CooperativesIndústria agrícolaOrganitzacions no governamentalsMutualismeFiscalitatReforma legalSociedades cooperativas: mercantilidad y operaciones con terceros. Un comentarioinfo:eu-repo/semantics/workingPaper334 - Formes d'organització i cooperació en l'economiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515442012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaManzano, CarolinaVives, Xavier2011-05-10T13:05:58Z201020101988 - 0812T - 1838 - 2010http://hdl.handle.net/2072/151544We study a general static noisy rational expectations model where investors
have private information about asset payoffs, with common and
private components, and about their own exposure to an aggregate risk
factor, and derive conditions for existence and uniqueness (or multiplicity)
of equilibria. We find that a main driver of the characterization of
equilibria is whether the actions of investors are strategic substitutes or
complements. This latter property in turn is driven by the strength of
a private learning channel from prices, arising from the multidimensional
sources of asymmetric information, in relation to the usual public learning
channel. When the private learning channel is strong (weak) in relation
to the public we have strong (weak) strategic complementarity in actions
and potentially multiple (unique) equilibria. The results enable a precise
characterization of whether information acquisition decisions are strategic
substitutes or complements. We find that the strategic substitutability in
information acquisition result obtained in Grossman and Stiglitz (1980)
is robust.
JEL Classification: D82, D83, G14
Keywords: Rational expectations equilibrium, asymmetric information,
risk exposure, hedging, supply information, information acquisition.application/pdfengDocuments de treball del Departament d'Economia;2010-09Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Expectatives racionals (Teoria econòmica)Equilibri (Economia)Cobertura del riscMercat eficientPublic and private learning from prices, strategic substitutability and complementarity, and equilibrium multiplicityinfo:eu-repo/semantics/workingPaper336 - Finances. Banca. Moneda. BorsaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515452012-07-10T07:43:44Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaZudenkova, Galina2011-05-10T13:16:09Z201020101988 - 0812T - 1839 - 2010http://hdl.handle.net/2072/151545This paper analyzes endogenous lobbying over a unidimensional policy issue. Individuals differ in policy preferences and decide either to join one of two opposite interest
lobbies or not to take part in lobbying activities. Once formed, lobbies make contributions to the incumbent government in exchange for a policy favor as in a common-agency
model. A "sincere-lobby-formation" condition for equilibrium is introduced: an individual
joins a lobby if their gain from the policy change that this lobby might achieve exceeds a
contribution fee. Thus, an equilibrium occurs only if no lobby member would prefer their
lobby to cease to exist. I show the existence of an equilibrium with two organized lobbies.
Individuals with more extreme preferences are more likely to join lobbying activities. I fi
nd that lobbying somewhat moderates the government's preferences, i.e., it shifts the
final policy in favor of individuals who are initially disadvantaged by the government's
pro- or anti-policy preferred position. Under a utilitarian government, however, lobbying
does not affect the fi
nal policy, and political competition results in a socially optimal
outcome.
JEL classi
cation: D72.
Keywords: Sincere lobby formation; common agency; endogenous lobbying.application/pdfengDocuments de treball del Departament d'Economia;2010-10Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Grups de pressióLobbismeSincere Lobby Formationinfo:eu-repo/semantics/workingPaper32 - PolíticaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515462012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaButnar, IsabelaLlop Llop, Maria2011-05-10T13:27:53Z201020101988 - 0812T - 1840 - 2010http://hdl.handle.net/2072/151546Analysis of gas emissions by the input-output subsystem approach provides detailed
insight into pollution generation in an economy. Structural decomposition analysis, on
the other hand, identifies the factors behind the changes in key variables over time.
Extending the input-output subsystem model to account for the changes in these
variables reveals the channels by which environmental burdens are caused and
transmitted throughout the production system. In this paper we propose a decomposition
of the changes in the components of CO2 emissions captured by an input-output
subsystems representation. The empirical application is for the Spanish service sector,
and the economic and environmental data are for years 1990 and 2000. Our results show
that services increased their CO2 emissions mainly because of a rise in emissions
generated by non-services to cover the final demand for services. In all service
activities, the decomposed effects show an increase in CO2 emissions due to a decrease
in emission coefficients (i.e., emissions per unit of output) compensated by an increase
in emissions caused both by the input-output coefficients and the rise in demand for services. Finally, large asymmetries exist not only in the quantitative changes in the
CO2 emissions of the various services but also in the decomposed effects of these
changes.
Keywords: structural decomposition analysis, input-output subsystems, CO2 emissions,
service sector.application/pdfengDocuments de treball del Departament d'Economia;2010-11Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Entrada/SortidaEmissions atmosfèriquesAnhídrid carbònicSector terciariStructural decomposition analysis and input-output subsystems: An application to Spanish CO2 emissionsinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515472012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaLlop Llop, MariaManresa, Antonio, 1954-2011-05-10T13:38:37Z201020101988 - 0812T - 1841 - 2010http://hdl.handle.net/2072/151547In economic literature, information deficiencies and computational complexities have
traditionally been solved through the aggregation of agents and institutions. In inputoutput
modelling, researchers have been interested in the aggregation problem since the
beginning of 1950s. Extending the conventional input-output aggregation approach to
the social accounting matrix (SAM) models may help to identify the effects caused by
the information problems and data deficiencies that usually appear in the SAM
framework. This paper develops the theory of aggregation and applies it to the social
accounting matrix model of multipliers. First, we define the concept of linear
aggregation in a SAM database context. Second, we define the aggregated partitioned
matrices of multipliers which are characteristic of the SAM approach. Third, we extend
the analysis to other related concepts, such as aggregation bias and consistency in
aggregation. Finally, we provide an illustrative example that shows the effects of
aggregating a social accounting matrix model.application/pdfengDocuments de treball del Departament d'Economia;2010-12Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Economia de la informacióEntrada/SortidaComptabilitat socialLinear Aggregation In The Social Accounting Matrix Frameworkinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515482012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaSolé, MeritxellDíaz Serrano, LluísRodríguez, Marisol2011-05-10T15:08:47Z201020101988 - 0812T – 1921 - 2010http://hdl.handle.net/2072/151548We analyze the impact of working and contractual conditions, particularly exposure to job risks, on the probability of acquiring a disability. We postulate a model in which this impact is mediated by the choice of occupation, with a level of risk associated to it. We assume this choice is endogenous, and that it depends on preferences and opportunities in the labour market, both of which may differ between immigrants and natives. To test this hypothesis we use data from the Continuous Sample of Working Lives of the Spanish SS system. It contains individual, job and firm information of over a million workers, including a representative sample of immigrants. We find that risk exposure increases the probability of permanent disability by 5.3%; temporary employment also influences health. Migrant status -with differences among regions of origin- significantly affects both disability and the probability of being employed in a risky occupation. Most groups of immigrants work in riskier jobs, but have lower probability of becoming disabled. Nevertheless, our theoretical hypothesis that disability and risk are jointly determined is not valid for immigrants: i.e. for them working conditions is not a matter of choice in terms of health.application/pdfengDocuments de treball del Departament d'Economia;2010-13Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Treballadors estrangersImmigrantsEspanyaDiscapacitatsSeguretat socialCondicions de treballMercat de treballWork, risk and health: differences between immigrants and natives in Spaininfo:eu-repo/semantics/workingPaper331 - Treball. Relacions laborals. Ocupació. Organització del treballDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515492012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDahm, MatthiasGlazer, Amihai2011-05-10T15:21:36Z201020101988 - 0812T - 1922 - 2010http://hdl.handle.net/2072/151549This paper addresses the puzzle of why legislation, even highly inefficient legislation, may pass with overwhelming majorities. We model a
egislature in which the same agenda setter serves for two periods, showing how he can exploit a legislature (completely) in the first period by
romising future benefits to legislators who support him. In equilibrium,
large majority of legislators vote for the first-period proposal because a
ote in favor maintains the chance for membership in the minimum winning coalition in the future. The model thus generates situations in which
egislators approve policies by large majorities, or even unanimously, that
enefit few, or even none, of them. The results are robust: some institutional arrangements, such as super-majority rules or sequential voting,
imit but do not eliminate the agenda setter's power to exploit the legislature, and other institutions such as secret voting do not limit his power.application/pdfengDocuments de treball del Departament d'Economia;2010-14Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Política i governLegislacióAdministració pública -- PlanificacióRepeated Agenda Setting and the Unanimous Approval of Bad Policiesinfo:eu-repo/semantics/workingPaper32 - PolíticaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515502012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaTheilen, Bernd, 1965-2011-05-10T15:43:36Z20102010ISSN 1988 - 0812T – 1923 - 2010http://hdl.handle.net/2072/151550In a recent paper Tishler and Milstein (2009) fi…nd that increased competition
may increase aggregate R&D spending while market output decreases. Therefore,
they obtain the surprising result that R&D spending is excessive when competition
becomes intense. Their result is based on the standard linear demand function for
differentiated products introduced by Bowley (1924) where decreased product differentiation is interpreted as more competitive pressure. In this paper I show that
at an aggregate level this interpretation is problematic because equilibrium effects
are dominated by a demand reduction effect. A slight modifi…cation of the standard
demand function eliminates this effect. For the Tishler and Milstein (2009) setting
it is shown that then increased competition increases both R&D spending and aggregate market output. Therefore, at least for consumers, more intense competition
increases welfare.
Journal of Economic Literature Classi…fication Numbers: D43, L1, O3.
Keywords: Oligopoly markets, Product differentiation, Competitive pressure.application/pdfengDocuments de treball del Departament d'Economia;2010-15Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)OligopolisDiferenciació de productesCompetència econòmicaTecnologia -- InnovacionsRendimentProduct differentiation, competitive pressure and the effects of innovation on the success and survivability of firms in oligopoly marketsinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515512012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFlores-Fillol, RicardoMoner Colonques, Rafael2011-05-10T15:53:13Z201020101988 - 0812T – 1999 - 2010http://hdl.handle.net/2072/151551This paper studies endogenous mergers of complements with mixed bundling, by allowing both for joint and separate consumption. After merger, partner fi
rms decrease the
price of the bundled system. Besides, when markets for individual components are suffi
ciently important, partner
firms raise prices of stand-alone products, exploiting their
monopoly power in local markets and making substitute 'mix-and-match' composite
products less attractive to consumers. Even though these effects favor the pro
fitability
of mergers, merging is not always an equilibrium outcome. The reason is that outsiders
respond by cutting their prices to retain their market share, and mergers can be unprofitable when competition is intense. From a welfare analysis, we observe that the number
of mergers observed in equilibrium may be either excessive (when markets for individual
components are important) or suboptimal (when markets for individual components are
less important).
Keywords: complements; merger; mixed bundling; separate consumption
JEL classi
fication: L13; L41; D43application/pdfengDocuments de treball del Departament d'Economia;2010-16Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)OligopolisMonopolisEmpreses -- FusióConsum (Economia)PreusEndogenous Mergers of Complements with Mixed Bundlinginfo:eu-repo/semantics/workingPaper334 - Formes d'organització i cooperació en l'economiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515522012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaFageda, Xavier, 1975-Flores-Fillol, Ricardo2011-05-10T16:08:27Z201020101988 - 0812T – 2000 - 2010http://hdl.handle.net/2072/151552Network airlines have been increasingly focusing their operations on hub airports
through the exploitation of connecting traffic, allowing them to take advantage of economies
of traffic density, which are unequivocal in the airline industry. Less attention has been
devoted to airlines' decisions on point-to-point thin routes, which could be served using
different aircraft technologies and different business models. This paper examines, both
theoretically and empirically, the impact on airlines' networks of the two major innovations in the airline industry in the last two decades: the regional jet technology and the
low-cost business model. We show that, under certain circumstances, direct services on
point-to-point thin routes can be viable and thus airlines may be interested in deviating
passengers out of the hub.
Keywords: regional jet technology; low-cost business model; point-to-point network;
hub-and-spoke network
JEL Classi…fication Numbers: L13; L2; L93application/pdfengDocuments de treball del Departament d'Economia;2010-17Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Indústria aeronàuticaTransport aeriOligopolisLínies aèriesTechnology, business models and network structure in the airline industryinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1515532012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAñón Higón, DoloresManjón Antolín, Miguel C.Máñez, Juan A.2011-05-10T16:19:23Z20102010ISSN 1988 - 0812T – 2001 - 2010http://hdl.handle.net/2072/151553En este estudio se analiza en qué medida el carácter multinacional de las empresas
(definido en términos de su participación accionarial) influye en la relación
endógena entre investigación y desarrollo (I+D) y productividad. En particular, la
contribución de la I+D a la productividad es analizada para un panel
representativo de empresas extraídas de la Encuesta sobre Estrategias
Empresariales. Los resultados indican que la “multinacionalidad” no ejerce un
papel diferencial en los rendimientos obtenidos por la I+D. En cambio, factores
como el tamaño de las empresas y la intensidad tecnológica del sector en el que
opera la empresa, sí parecen conllevar diferencias significativas en los
rendimientos.
Palabras Clave: I+D, Productividad, Multinacional
JEL Classification: C14, D24, F23application/pdfspaDocuments de treball del Departament d'Economia;2010-18Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Investigació industrialProductivitat industrialEmpreses multinacionals¿Obtienen las multinacionales mayores rendimientos de sus actividades de I+D?info:eu-repo/semantics/workingPaper334 - Formes d'organització i cooperació en l'economiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1516162012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaAñón Higón, DoloresManjón Antolín, Miguel C.Máñez, Juan A.2011-05-11T13:42:34Z201020101988 - 0812T – 2002 - 2010http://hdl.handle.net/2072/151616In this study we analyze multinationality (domestic-based firms vs. multinationals) and foreignness (foreign vs. domestic firms) effects in the returns of R&D to productivity. We follow a two-step strategy. In the first step, we consistently ''s productivity by GMM and numerically compute the sample distribution of the R&D returns. In the second step, we use stochastic dominance techniques to make inferences on the multinationality and foreignness effects. Results for a panel of UK manufacturing firms suggest that multinationality and foreignness effects operate in an opposite way: whilst the multinationality effect enhances R&D returns, the foreignness diminishes them.application/pdfengDocuments de treball del Departament d'Economia;2010-19Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Empreses multinacionalsInvestigació industrialProductivitat industrialMultinationals, R&D and productivity: Evidence for UK Manufactoring firmsinfo:eu-repo/semantics/workingPaper339 - Comerç. Relacions econòmiques internacionals. Economia mundial. MàrquetingDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1516172012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaDuro Moreno, Juan Antonio2011-05-11T13:53:46Z201020101988 - 0812T – 2016 - 2010http://hdl.handle.net/2072/151617In recent years traditional inequality measures have been used to quite a considerable
extent to examine the international distribution of environmental indicators. One of its
main characteristics is that each one assigns different weights to the changes that occur
in the different sections of the variable distribution and, consequently, the results they
yield can potentially be very different. Hence, we suggest the appropriateness of using a
range of well-recommended measures to achieve more robust results. We also provide
an empirical test for the comparative behaviour of several suitable inequality measures
and environmental indicators. Our findings support the hypothesis that in some cases
there are differences among measures in both the sign of the evolution and its size.
JEL codes: D39; Q43; Q56.
Keywords: international environment factor distribution; Kaya factors; Inequality
measurementapplication/pdfengDocuments de treball del Departament d'Economia;2010-20Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Medi ambient -- IndicadorsMedi ambient -- DesenvolupamentOn the automatic application of inequality indexes in the analysis of the international distribution of environmental indicatorsinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1516182012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaZudenkova, Galina2011-05-11T14:01:56Z20102010ISSN 1988 - 0812T – 2017 - 2010http://hdl.handle.net/2072/151618In this paper, I provide a formal justi
cation for a well-established coattail effect,
when a popular candidate at one branch of government attracts votes to candidates from
the same political party for other branches of government. A political agency frame-
work with moral hazard is applied to analyze coattails in simultaneous presidential and
congressional elections. I show that coattail voting is a natural outcome of the optimal
reelection scheme adopted by a representative voter to motivate politicians' efforts in a
retrospective voting environment. I assume that an office-motivated politician (executive
or congressman) prefers her counterpart to be affiliated with the same political party.
This correlation of incentives leads the voter to adopt a joint performance evaluation
rule, which is conditioned on the politicians belonging to the same party or different
parties. The two-sided coattail effects then arise. On the one hand, the executive's suc-
cess/failure props up/drags down her partisan ally in congressional election, which implies
presidential coattails. On the other hand, the executive's reelection itself is affected by
the congressman's performance, which results in reverse coattails.
JEL classi
fication: D72, D86.
Keywords: Coattail voting; Presidential coattails; Reverse coattails; Simultaneous
elections; Political Agency; Retrospective voting.application/pdfengDocuments de treball del Departament d'Economia;2010-21Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)EleccionsA Political Agency Model of Coattail Votinginfo:eu-repo/semantics/workingPaper32 - PolíticaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1516192012-11-06T18:30:38Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaOsório Costa, Antonio Miguel2011-05-11T14:17:00Z201020101988 - 0812T – 2018 - 2010http://hdl.handle.net/2072/151619This paper studies a dynamic principal-monitor-agent relation where a strategic principal delegates the task of monitoring the effort of a strategic agent to a third party. The latter we call the monitor, whose type is initially unknown. Through repeated interaction the agent might learn his type. We show that this process damages the principal's payoffs. Compensation is assumed exogenous, limiting to a great extent the provision of incentives. We go around this difficulty by introducing costly replacement strategies, i.e. the principal replaces the monitor, thus disrupting the agent's learning. We found that even when replacement costs are null, if the revealed monitor is strictly preferred by both parties, there is a loss in efficiency due to the impossibility of bene…tting from it. Nonetheless, these strategies can partially recover the principal's losses. Additionally, we establish upper and lower bounds on the payoffs that the principal and the agent can achieve. Finally we characterize the equilibrium strategies under public and private monitoring (with communication) for different cost and impatience levels.application/pdfengDocuments de treball del Departament d'Economia;2010-22Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Repeated Interaction and the Revelation of the Monitor's Type: A Principal-Monitor-Agent Probleminfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1516212012-11-06T18:30:58Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaOsório Costa, Antonio Miguel2011-05-11T14:31:40Z201020101988 - 0812T – 2019 - 2010http://hdl.handle.net/2072/151621General signaling results in dynamic Tullock contests have been missing for long. The reason is the tractability of the problems. In this paper,
an uninformed contestant with valuation vx competes against an informed
opponent with valuation, either high vh or low vl. We show that; (i) When
the hierarchy of valuations is vh ≥ vx ≥ vl, there is no pooling. Sandbagging is too costly for the high type. (ii) When the order of valuations is
vx ≥ vh ≥ vl, there is no separation if vh and vl are close. Sandbagging
is cheap due to the proximity of valuations. However, if vh and vx are
close, there is no pooling. First period cost of pooling is high. (iii) For
valuations satisfying vh ≥ vl ≥ vx, there is no separation if vh and vl
are close. Bluffing in the first period is cheap for the low valuation type.
Conversely, if vx and vl are close there is no pooling. Bluffing in the first
stage is too costly.
JEL: C72, C73, D44, D82.
KEYWORDS: Signaling, Dynamic Contests, Non-existence, Sandbag
Pooling, Bluff Pooling, Separatingapplication/pdfengDocuments de treball del Departament d'Economia;2010-23Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Signaling in Dynamic Contests: Some Impossibility Resultsinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1516232012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaSegarra Blasco, Agustí, 1958-Teruel, Mercedes2011-05-11T14:42:48Z201020101988 - 0812T – 2020 - 2010http://hdl.handle.net/2072/151623This paper analyses the impact of different sources of finance on the growth of firms.
sing panel data from Spanish manufacturing firms for the period 2000-2006, we investigate the effects of internal and external finances on firm growth. In particular, we examine
wo dimensions of these financial sources: a) the performance of the firms' capital structure
n accordance with firm size; b) the combined effect of equity, external debt and cash
low
n firm growth. We find that low-growth firms are sensitive to cash
low and short-term
ank debt, while high-growth firms are more sensitive to long-term debt. Furthermore,
ur results show that low-growth firms are more sensitive to short-term financial variables,
hile fast growth firms are more sensitive to long-term financial variables.
EL codes: L25, R12.
eywords: Finance, Firm growth, Quantile regressions, Small firmsapplication/pdfengDocuments de treball del Departament d'Economia;2010-24Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Empreses petites i mitjanesEmpreses -- CreixementEmpreses -- FinancesAre small firms more sensitive to financial variables?info:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1518092012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaAslanidis, NektariosChristiansen, Charlotte2011-05-16T13:37:03Z201120111988 - 0812T - 772 - 2011http://hdl.handle.net/2072/151809Abstract: We scrutinize the realized stock-bond correlation based upon high
frequency returns. We use quantile regressions to pin down the systematic
variation of the extreme tails over their economic determinants. The correlation
dependence behaves differently when the correlation is large negative and large
positive. The important explanatory variables at the extreme low quantile are
the short rate, the yield spread, and the volatility index. At the extreme high
quantile the bond market liquidity is also important. The empirical fi
ndings are
only partially robust to using less precise measures of the stock-bond correlation.
The results are not caused by the recent
financial crisis.
Keywords: Extreme returns; Financial crisis; Realized stock-bond correlation; Quantile regressions; VIX.
JEL Classifi
cations: C22; G01; G11; G12application/pdfengDocuments de treball del Departament d'Economia;2011-01Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Cartera de valors -- GestióActius financersQuantiles of the Realized Stock-Bond Correlationinfo:eu-repo/semantics/workingPaper336 - Finances. Banca. Moneda. BorsaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1518102012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaBové Sans, Miquel ÀngelLaguado Ramírez, Raquel Irene2011-05-16T13:44:29Z201120111988 - 0812T - 773 - 2011http://hdl.handle.net/2072/151810ABSTRACT:
El proceso de decisión de compra del consumidor turístico viene condicionado en gran medida
por la imagen que éste tiene de los diferentes destinos que configuran su campo de elección. En
un mercado turístico internacional altamente competitivo, los responsables de las políticas de
desarrollo y promoción de los destinos buscan estrategias de diferenciación que les permitan
posicionarse en los segmentos de mercado más adecuados para su producto, con el fin de
conseguir mejorar su poder de atracción de visitantes e incrementar o consolidar los beneficios
económicos que la actividad turística genera en su territorio. En este sentido, el objetivo
principal que nos planteamos en este trabajo es el análisis empírico de los factores que
determinan la formación de la imagen de la ciudad de Tarragona como destino turístico de
patrimonio cultural. Sin duda, la declaración como Patrimonio Mundial por parte de la
UNESCO, en el año 2000, del conjunto artístico y monumental con el que cuenta la ciudad de
Tarragona, supuso un importante reconocimiento internacional de la calidad de los elementos
culturales y patrimoniales que ofrece la Ciudad a todos los visitantes que la escogen como
destino turístico. También representa una oportunidad estratégica para impulsar la promoción
turística de la Ciudad y su consolidación como destino singularizado por sus características
culturales y patrimoniales.
Nuestro trabajo se basa en la utilización de técnicas estructuradas para identificar los factores
que determinan los componentes de la imagen turística de Tarragona y que influyen de manera
decisiva en el proceso de elección del destino por parte de sus visitantes. Además de poder
conocer la imagen turística global de Tarragona, consideramos que la heterogeneidad de sus
visitantes requiere un estudio más detallado que nos permita segmentar la tipología de los
visitantes. La información que nos aportan estos resultados nos han de permitir comparar la
imagen percibida por los turistas que visitan Tarragona, con los objetivos de diseño de producto
y promoción del destino que tienen los responsables de la política turística local.
Key words:
Imagen de destino turístico; análisis factorial; análisis cluster; política turística local.application/pdfspaDocuments de treball del Departament d'Economia;2011-02Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Imatge turísticaAnàlisi de ClusterPolítica turísticaTarragonaImagen y segmentación en un destino turístico de Patrimonio de la Humanidad: el caso de la ciudad de Tarragonainfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1518112012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaDíaz Serrano, LluísRaya, Josep Maria2011-05-16T13:56:04Z201120111988 - 0812T - 774 - 2011http://hdl.handle.net/2072/151811In this paper, we investigate whether evidence of discriminatory treatment against immigrants in
the Spanish mortgage market exists. More specifically, we test whether, ceteris paribus,
immigrant borrowers tend to be charged with higher interest rates on their mortgages than their
Spanish born counterparts. To do so, we use a unique dataset on granted mortgages that contains
information not only regarding the conditions of the loan but also the socio-economic
characteristics of the mortgagors. We observe that immigrants are systematically charged with
higher interest rates. We apply the well known Oaxaca-Blinder decomposition to measure the
extent to which this disparate treatment of lenders in mortgage pricing against immigrants is due
to discrimination. Our results indicate that approximately two thirds of the gap in the interest
rate between Spanish born and immigrant borrowers can be attributed to discriminatory
treatment.
Key words: Immigration, discrimination, mortgage pricing, housing market.
JEL codes: R21, G21, J14application/pdfengDocuments de treball del Departament d'Economia;2011-03Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Emigració i immigracióDiscriminacióPréstecs hipotecarisOferta i demandaHabitatgeIs there Descriminatory Mortgage Pricing against Immigrants in the Spanish Lending Market?info:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1518122012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaDíaz Serrano, LluísRodríguez Pose, Andrés2011-05-16T14:06:48Z201120111988 - 0812T - 775 - 2011http://hdl.handle.net/2072/151812This paper analyses whether the different powers and resources at the
disposal of local and regional governments across Europe deliver greater
satisfaction with political institutions and lead to greater personal happiness.
The analysis uses microdata from the four available waves of the European
social survey (2002, 2004, 2006 and 2008), including more than 160,000
observations of individuals living in 29 European countries. Our results
reveal that political and fiscal decentralization have a positive and
significant effect on individuals’ overall happiness. Fiscal decentralization
also exerts a significant effect on the level of satisfaction with political and
economic institutions and with the education and health systems, whereas
the effect of political decentralization on these variables is more limited.
The results show that citizens seem to be happier with the actual capacity of
their local governments to deliver than with the general principle that they
can have a say on their daily politics and policies.
Keywords: Happiness, well-being, satisfaction, fiscal and political
decentralization, Europe.
JEL codes: H11, H77application/pdfengDocuments de treball del Departament d'Economia;2011-04Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)FelicitatBenestarSatisfaccióDescentralització administrativaDecentralization, happiness and the perception of institutionsinfo:eu-repo/semantics/workingPaper32 - PolíticaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1518132012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaZudenkova, Galina2011-05-16T14:20:15Z201120111988 - 0812T - 776 - 2011http://hdl.handle.net/2072/151813This paper studies party discipline in a congress within a political agency framework
with retrospective voting. Party discipline serves as an incentive device to induce office-
motivated congress members to perform in line with the party leadership's objective of
controlling both the executive and the legislative branches of government. I show fi
rst
that the same party is more likely to control both branches of government (i.e., uni
ed
government) the stronger the party discipline in the congress is. Second, the leader of
the governing party imposes more party discipline under uni
ed government than does
the opposition leader under divided government. Moreover, the incumbents' aggregate
performance increases with party discipline, so a representative voter becomes better off.
JEL classi
cation: D72.
Keywords: Party discipline; Political agency; Retrospective voting; Office-motivated
politicians.application/pdfengDocuments de treball del Departament d'Economia;2011-05Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Disciplina de partitA Model of Party Discipline in a Congressinfo:eu-repo/semantics/workingPaper32 - PolíticaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1518142012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaZudenkova, Galina2011-05-16T14:32:51Z201120111988 - 0812T - 777 - 2011http://hdl.handle.net/2072/151814This paper contrasts the incentives for cronyism in business, the public sector and
politics within an agency problem model with moral hazard. The analysis is focused on the
institutional differences between private, public and political organizations. In business,
when facing a residual claimant contract, a chief manager ends up with a relatively
moderate
rst-best level of cronyism within a
firm. The institutional framework of the
public sector does not allow explicit contracting, which leads to a more severe cronyism
problem within public organizations. Finally, it is shown that the nature of political
appointments (such that the subordinate's reappointment is conditioned on the chief's
re-election) together with implicit contracting makes political cronyism the most extreme
case.
JEL classifi
cation: D72, D73, D86.
Keywords: Cronyism; Meritocracy; Manager; Bureaucrat; Politician.application/pdfengDocuments de treball del Departament d'Economia;2011-06Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)ClientelismeBurocràciaPolíticsCronyism in Business, Public Sector and Politicsinfo:eu-repo/semantics/workingPaper32 - PolíticaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1518152012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaLlop Llop, Maria2011-05-16T14:44:47Z201120111988 - 0812T - 778 - 2011http://hdl.handle.net/2072/151815Water reallocation between economic agents has been –and continues to be- the subject
of a considerable amount of research. This paper proposes a method for evaluating how
water is reallocated within the economy in response to changes in final demand and
changes in the technical water needs of activities and consumers. The empirical
application, which is for the Catalan economy, shows important asymmetries in the
effects that exogenous inflows and changes in water technical requirements cause on
water reallocation. In the process of water distribution, exogenous inflows mostly
benefit agriculture and damage private consumers. On the other hand, increases in
technical water requirements have negative effects on agriculture and positive effects on
the other production activities. The results of the study suggest that agriculture is an
important activity not only in terms of water distribution but also in terms of water
reallocation due to changes in final demand and technical water needs.
Keywords: Water reallocation, water distribution, exogenous shock, technical water
needs.application/pdfengDocuments de treball del Departament d'Economia;2011-07Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Aigua -- DistribucióWater Reallocation in the Input-Output Modelinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1521362012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaArauzo Carod, Josep Maria2011-07-07T16:39:11Z201120111988 - 0812T - 1092 - 2011http://hdl.handle.net/2072/152136This paper is about the role played by stock of human capital on location decisions of new manufacturing plants. We analyse the effect of several skill levels (from basic school to PhD) on decisions about the location of plants in various industries and, therefore, of different technological levels. We also test whether spatial aggregation level biases the results and determine the most appropriate areas to be considered in analyses of these phenomena. Our main statistical source is the Register of Manufacturing Establishments of Catalonia (REIC), which has plant-level microdata on the locations of new manufacturing plants.
Keywords: agglomeration economies, industrial location, human capital, count-data models, spatial econometrics.application/pdfengDocuments de treball del Departament d'Economia;2011-08Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialRecursos humansAnàlisi espacial (Estadística)Location Determinants of New Firms: Does Skill Level of Human Capital Really Matter?info:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1521372012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaLiviano Solís, DanielArauzo Carod, Josep Maria2011-07-07T16:45:00Z201120111988 - 0812T - 1093 - 2011http://hdl.handle.net/2072/152137This paper tries to resolve some of the main shortcomings in the empirical literature of location decisions
for new plants, i.e. spatial effects and overdispersion. Spatial effects are omnipresent, being
a source of overdispersion in the data as well as a factor shaping the functional relationship between
the variables that explain a firm’s location decisions. Using Count Data models, empirical
researchers have dealt with overdispersion and excess zeros by developments of the Poisson regression
model. This study aims to take this a step further, by adopting Bayesian methods and models
in order to tackle the excess of zeros, spatial and non-spatial overdispersion and spatial dependence
simultaneously. Data for Catalonia is used and location determinants are analysed to that end. The
results show that spatial effects are determinant. Additionally, overdispersion is descomposed into
an unstructured iid effect and a spatially structured effect.
Keywords: Bayesian Analysis, Spatial Models, Firm Location.
JEL Classification: C11, C21, R30.application/pdfengDocuments de treball del Departament d'Economia;2011-09Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Localització industrialAnàlisi espacial (Estadística)Estadística bayesianaIndustrial Location and Space: New Insightsinfo:eu-repo/semantics/workingPaper332 - Economia regional i territorial. Economia del sòl i de la vivendaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1521382012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaAslanidis, NektariosChristiansen, Charlotte2011-07-07T16:51:52Z201120111988 - 0812T - 1094 - 2011http://hdl.handle.net/2072/152138Abstract: We analyze the realized stock-bond correlation. Gradual transitions
between negative and positive stock-bond correlation is accommodated by the
smooth transition regression (STR) model. The changes in regime are de
ned
by economic and
financial transition variables. Both in sample and out-of-
sample results document that STR models with multiple transition variables
outperform STR models with a single transition variable. The most important
transition variables are the short rate, the yield spread, and the VIX volatility
index.
Keywords: realized correlation; smooth transition regressions; stock-bond
correlation; VIX index
JEL Classifi
cations: C22; G11; G12; G17application/pdfengDocuments de treball del Departament d'Economia;2011-10Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Correlació (Estadística)Actius financers -- PreusCartera de valors -- GestióSmooth Transition Patterns in the Realized Stock- Bond Correlationinfo:eu-repo/semantics/workingPaper336 - Finances. Banca. Moneda. BorsaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1521392012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaLlop Llop, MariaPonce Alifonso, Xavier2011-07-07T16:58:14Z201120111988 - 0812T - 1096 - 2011http://hdl.handle.net/2072/152139Water scarcity is a long-standing problem in Catalonia, as there are significant differences in the spatial and temporal distribution of water through the territory. There has consequently been a debate for many years about whether the solution to water scarcity must be considered in terms of efficiency or equity, the role that the public sector must play and the role that market-based instruments should play in water management.
The aim of this paper is to use a Computable General Equilibrium (CGE) model to analyze the advantages and disadvantages associated with different policy instruments, from both a supply and a demand viewpoint, which can be applied to water management in Catalonia. We also introduce an ecological sector in our CGE model, allowing us to analyze the environmental impact of the alternative policies simulated. The calibration of the exogenous variables of the CGE model is performed by using a Social Accounting Matrix (SAM) for the Catalan economy with 2001 data. The results suggest that taking into account the principle of sustainability of the resource, the policy debate between supply and demand in water policies is obsolete, and a new combination of policies is required to respect the different values associated with water.
Keywords: Water Policies; Computable General Equilibrium Model; Economic Effects; Environmental Effects.application/pdfengDocuments de treball del Departament d'Economia;2011-11Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Aigua -- Polítiques de gestióA never-ending debate: Demand versus supply water policies. A CGE analysis for Cataloniainfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1696812012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaMiguel, Francisco Javier deLlop Llop, MariaManresa, Antonio, 1954-2011-09-19T14:36:26Z201120111988 - 0812T - 1210 - 2011http://hdl.handle.net/2072/169681In this paper we simulate and analyse the economic impact that sectorial productivity gains have
on two regional Spanish economies (Catalonia and Extremadura). In particular we study the
quantitative effect that each sector’s productivity gain has on household welfare (real disposable
income and equivalent variation), on the consumption price indices and factor relative prices, on
real production (GDP) and on the government’s net income (net taxation revenues of social
transfers to households). The analytical approach consists of a computable general equilibrium
model, in which we assume perfect competition and cleared markets, including factor markets.
All the parameters and exogenous variables of the model are calibrated by means of two social
accounting matrices, one for each region under study. The results allow us to identify those
sectors with the greatest impact on consumer welfare as the key sectors in the regional
economies.
Keywords: Productivity gains, key sectors, computable general equilibriumapplication/pdfengDocuments de treball del Departament d'Economia;2011-12Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Productivitat (Economia)Catalunya -- Condicions econòmiquesExtremadura -- Condicions econòmiquesSectors econòmicsSimulating the Impact of Sectorial Productivity Gains on Two Regional Economies: Key Sectors from a Supply Side Perspectiveinfo:eu-repo/semantics/workingPaper334 - Formes d'organització i cooperació en l'economiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1696822012-07-10T07:43:45Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaAlcalde, JoséDahm, Matthias2011-09-19T14:44:19Z201120111988 - 0812T - 1211 - 2011http://hdl.handle.net/2072/169682We propose a new procurement procedure which allocates shares of the
total amount to be procured depending on the bids of suppliers. Among
the properties of the mechanism are: (i) Bidders have an incentive to par-
ticipate in the procurement procedure, as equilibrium payoffs are strictly
positive. (ii) The mechanism allows to vary the extent to which affirma-
tive action objectives, like promoting local industries, are pursued. (iii)
Surprisingly, even accomplishing affirmative action goals, procurement ex-
penditures might be lower than under a classical auction format.
Keywords: Procurement Auction, Affirmative Action.
JEL: C72, D44, H57application/pdfengDocuments de treball del Departament d'Economia;2011-13Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Jocs no-cooperatius (Matemàtica)Competition for Procurement Sharesinfo:eu-repo/semantics/workingPaper33 - EconomiaDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
oai:recercat.cat:2072/1696832012-07-10T07:43:43Zhdl_2072_1745Universitat Rovira i Virgili. Departament d'EconomiaUniversitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia PúblicaVarela-Irimia, Xosé-Luís2011-09-19T15:04:21Z201120111988 - 0812T - 1322 - 2011http://hdl.handle.net/2072/169683This paper computes and compares alternative quality-adjusted price indexes for new
cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously
controls for time-invariant unobserved product effects and time-variant unobserved quality
changes, that are assumed to be captured by model age effects. The results show that the
non-adjusted price index largely overstates the increase in the cost of living induced by
changes in car prices and that previous evidence for this market have not measured the
real extent of that bias, probably due to the omission of controls for unobservables. It is
also shown that omitting age effects can also lead to misleading conclusions. The estimated
price indexes give also some insights on what could have been the determinants of price
evolution in the Spanish car market.
JEL classi…fication numbers: C43, E31, L11, L13,
Keywords: Hedonic price indexes, Spanish car market, car prices, CPI, Cost of livingapplication/pdfengDocuments de treball del Departament d'Economia;2011-14Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)Automòbils -- Indústria i comerç -- EspanyaÍndex de preus al consumCost de la vidaPreus -- Política governamentalAge effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990'sinfo:eu-repo/semantics/workingPaper338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. PreusDepartament d'EconomiaUniversitat Rovira i VirgiliDocuments de treball del Departament d'Economia
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