Arxiu de la categoria: Document de treball

CREAP2006-14: New evidence of the real interest rate parity for OECD countries using panel unit root tests with breaks

En aquest article es duu a terme el contrast de la hipòtesi de paritat entre tipus d.interès reals (RIRP) entre dinou dels majors paísos de la OCDE al llarg del període 1978:Q2-1998:Q4. La metodologia economètrica aplicada es basa en la combinació de l.ús de diversos contrastos d.arrel unitària i d.estacionarietat dissenyats per un entorn de dades de panell que són vàlids sota la presència de dependència entre els individusi presència de múltiples canvis estructurals. Els nostres resultats donen fort suport al compliment de la versió dèbil de la RIRP en el període analitzat un cop la dependencia i els canvis estructurals són tinguts en compte.

Mariam Camarero; Josep Lluis Carrion-i-Silvestre (AQR-IREA) and Cecilio Tamarit

CREAP2006-14.pdf

CREAP2006-13: Economía urbana y calidad de vida. Una revisión del estado de conocimiento en España

Quality of life is increasingly becoming a concept researched empirically and theoretically in the field of economics. In urban economics in particular, this increasing interest stems mainly from the fact that quality of life affects urban competitiveness and urban growth: research shows that when households and businesses decide where to locate, quality of life considerations can play a very important role. The purpose of the present paper is to examine the way economic literature and urban economic literature in particular, have adopted quality of life considerations in the economic thinking. Moreover, it presents the ways various studies have attempted to capture the multidimensional nature of the concept, and quantify it for the purposes of empirical research. Additionally we focus on the state of the art in Spain. Looking at the experiences in the last years we see very important possibilities of developing new studies in the field.  

Vicente Royuela (AQR-IREA); Diona Lambiri and Bianca Biagi

CREAP2006-13.pdf

CREAP2006-12: Changes in the demand for private medical insurance following a shift in tax incentives

The 1998 Spanish reform of the Personal Income Tax eliminated the 15% deduction for private medical expenditures including payments on private health insurance (PHI) policies. To avoid an undesirable increase in the demand for publicly funded health care, tax incentives to buy PHI were not completely removed but basically shifted from individual to group employer-paid policies. In a unique fiscal experiment, at the same time that the tax relief for individually purchased policies was abolished, the government provided for tax allowances on policies taken out through employment. Using a bivariate probit model on data from National Health Surveys, we estimate the impact of said reform on the demand for PHI and the changes occurred within it. Our findings suggest that the total probability of buying PHI was not significantly affected. Indeed, the fall in the demand for individual policies (by 10% between 1997 and 2001) was offset by an increase in the demand for group employer-paid ones, so that the overall size of the market remained virtually unchanged. We also briefly discuss the welfare effects on the state budget, the industry and society at large. 

Marisol Rodríguez (CREB); Alexandrina Stoyanova (CREB)

CREAP2006-12.pdf

CREAP2006-11: Capital humano: un análisis comparativo Catalunya – España

En este documento se analizan comparativamente algunos aspectos relativos al capital humano de la economía catalana y española. En primer lugar se compara la dotación de capital humano tanto desde una metodología más tradicional, como es el caso de años de educación, como desde el punto de vista de la valoración del activo mediante actualización de flujos salariales a lo largo del ciclo vital de los individuos. Los resultados muestran indicios de una cierta desaceleración en el crecimiento del stock de capital humano. Adicionalmente, se lleva a cabo una estimación de la existencia de externalidades de capital humano intra-establecimiento, con datos de la Encuesta de Estructura Salarial, desarrollando una metodología menos restrictiva que la tradicional. Los resultados muestran comportamientos similares de la economía española y catalana, apuntando a la existencia de externalidades.

Josep Lluís Raymond Bara (GEAP); José Luis Roig Sabaté (GEAP)

CREAP2006-11.pdf

CREAP2006-10: Political institutions and the development of telecomunications

It 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.

Veneta Andonova; Luis Díaz-Serrano (CREB-GRIT-IZA)

CREAP2006-10.pdf

CREAP2006-09: Productivity growth and competition in spanish manufacturing firms: What has happened in recent years?

This paper addresses the issue of the relationship between productivity and market competition. In comparison to the economies of other European countries, the Spanish economy has been growing, while productivity growth has stagnated. Here we provide empirical evidence about the relationship between productivity and market competition from Spanish manufacturing firms at firm level between 1994 and 2004. Correcting for selection bias, our study pays special attention to the patterns of productivity growth between openness and non-openness firms. When market competition increases the effect on firms operating in domestic markets is positive but when the level of competition is high incentives to invest in innovation and productivity gains disappear. The empirical relationship between competition and productivity is an inverted U-shape, where productivity growth is highest at intermediate levels of competition. The productivity growth of firms operating in international markets is higher than that of non-openness firms, but when market competition rises they moderate their productivity growth. Our empirical results suggest that the correct competition policy in the Spanish economy should remove the barriers to competition in internal markets in order to increase the incentives for manufacturing firms to invest in innovation and productivity growth.

Agustí Segarra Blasco (GRIT); Mercedes Teruel-Carrizosa (GRIT)

CREAP2006-09.pdf

CREAP2006-08: The choice of banking: Are the interest rate a significant criteria?

L’objectiu de la investigació és el determinar els factors que influeixen en l’elecció d’entitat bancària. Els resultats indiquen que la proximitat (la dimensió de la xarxa de sucursals) és el motiu que els espanyols més valoren a l’hora d’inclinar-se per una o una altra entitat. Tot i la creixent simetria del mercat bancari espanyol, les preferències dels clients de les caixes d’estalvi i les dels bancs són del tot coincidents, essent la proximitat –el principal motiu d’elecció- molt més valorada pels primers que pels segons. S’ha detectat també l’existència de divergències en les preferències segons quina sigui l’autonomia i la tipologia del municipi de residència de l’enquestat.

Antoni Garrido Torres (IEB), Pere Arqué Castells (IEB)

CREAP2006-08.pdf

CREAP2006-07: Lowering blood alcohol content levels to save lives: The European experience

La seguretat vial s’ha convertit en una creixent preocupació al món desenvolupat degut al gran número de víctimes mortals patides i  a les pèrdues econòmiques que se’n deriven d’ella. A l’any 2005 aquestes van ascendir a 200.000 milions d’euros, una quantitat que suposa el 2% del PIB europeu i que justifica l’existència d’intervenció pública. Els governs s’enfronten a aquest repte fixant lleis i normatives més estrictes, especialment a la lluita contra la conducció sota els efectes de l’alcohol. La majoria de països europeus van decidir al llarg de l’última dècada rebaixar el nivell d’alcohol a la sang permès fins a 0.5 mg/ml. Aquest treball avalua per primera vegada l’eficàcia d’aquesta transició utilitzant un panell de dades europees (CARE) mitjançant el mètode de Diferències en Diferències i efectes fixes permetent qualsevol patró de correlació (Cluster-Robust). Els resultats mostren l’existència d’un impacte positiu sobre certs grups, mentre que l’efectivitat sobre el conjunt d’usuaris només s’aconsegueix a on la reducció del nivell d’alcohol a la sang s’acompanya de mesures que forcen el seu compliment. A més, el treball troba un retràs superior a dos anys en aquesta eficàcia. Finalment, també es destaca la importància de controlar per l’autocorrelació habitualment oblidada a l’avaluació d’aquesta política.  

Daniel Albalate (GPRE-IREA)  Publicat a Journal of Policy Analysis and Management, 27 (1) pp. 20-39

CREAP2006-07.pdf

CREAP2006-06: Calculation of the variance in surveys of the economic climate

Public opinion surveys have become progressively incorporated into systems of official statistics. Surveys of the economic climate are usually qualitative because they collect opinions of businesspeople and/or experts about the long-term indicators described by a number of variables. In such cases the responses are expressed in ordinal numbers, that is, the respondents verbally report, for example, whether during a given trimester the sales or the new orders have increased, decreased or remained the same as in the previous trimester. These data allow to calculate the percent of respondents in the total population (results are extrapolated), who select every one of the three options. Data are often presented in the form of an index calculated as the difference between the percent of those who claim that a given variable has improved in value and of those who claim that it has deteriorated. As in any survey conducted on a sample the question of the measurement of the sample error of the results has to be addressed, since the error influences both the reliability of the results and the calculation of the sample size adequate for a desired confidence interval. The results presented here are based on data from the Survey of the Business Climate (Encuesta de Clima Empresarial) developed through the collaboration of the Statistical Institute of Catalonia (Institut d’Estadística de Catalunya) with the Chambers of Commerce (Cámaras de Comercio) of Sabadell and Terrassa.  

Manuela Alcañiz (RISC-IREA); Àlex Costa; Montserrat Guillén (RISC-IREA); Carme Luna; Cristina Rovira

CREAP2006-06.pdf

CREAP2006-05: Job losses, outsourcing and relocation: Empirical evidence using Microdata

Using microdata, we analyse the determinants of firm relocation and conventional outsourcing decisions as a way to reduce employment. The results for a sample of 32 countries show the relevance of factors not considered previously in the literature. Firms that are below average in quality or innovation have a higher propensity to externalise part of their production through outsourcing, while lower relative profitability and longer time to market for new products each imply a higher probability of relocation. 

Manuel Artís (AQR-IREA); Raúl Ramos (AQR-IREA); Jordi Suriñach (AQR-IREA)

CREAP2006-05.pdf