Muchos gobiernos regionales en los países desarrollados diseñan programas para mejorar la competitividad de las empresas locales. En este papel, evaluamos la efectividad de programas públicos cuyo objetivo es reforzar la actuación de las empresas localizada en Cataluña (España). Se compara la actuación de empresas subvencionadas (tratadas) con empresas similares, pero no subvencionadas (no tratadas). Se utiliza el Propensity Score Matching (PSM) para construir un grupo de control que, con respecto a las principales características, es muy similar al grupo tratado, lo que permite identificar empresas que presentan la misma propensión a recibir subvenciones. Una vez se ha establecido un grupo de comparación válido, se comparan los resultados de cada empresa. Como resultado se encuentra que, en promedio, las empresas tratadas cambian sus prácticas comerciales, mejoran su actuación, y aumentan su valor añadido como resultado directo de los programas públicos.
Néstor Duch (IEB); Daniel Montolio (IEB); Mauro Mediavilla
This paper shows that tourism specialisation can help to explain the observed high growth rates of small countries. For this purpose, two models of growth and trade are constructed to represent the trade relations between two countries. One of the countries is large, rich, has an own source of sustained growth and produces a tradable capital good. The other is a small poor economy, which does not have an own engine of growth and produces tradable tourism services. The poor country exports tourism services to and imports capital goods from the rich economy. In one model tourism is a luxury good, while in the other the expenditure elasticity of tourism imports is unitary. Two main results are obtained. In the long run, the tourism country overcomes decreasing returns and permanently grows because its terms of trade continuously improve. Since the tourism sector is relatively less productive than the capital good sector, tourism services become relatively scarcer and hence more expensive than the capital good. Moreover, along the transition the growth rate of the tourism economy holds well above the one of the rich country for a long time. The growth rate differential between countries is particularly high when tourism is a luxury good. In this case, there is a faster increase in the tourism demand. As a result, investment of the small economy is boosted and its terms of trade highly improve.
Carmen Álvarez-Albelo (CREB); Raúl Hernández-Martín
The objective of this paper is to analyse to what extent the use of cross-section data will distort the estimated elasticities for car ownership demand when the observed variables do not correspond to a state equilibrium for some individuals in the sample. Our proposal consists of approximating the equilibrium values of the observed variables by constructing a pseudo-panel data set which entails averaging individuals observed at different points of time into cohorts. The results show that individual and aggregate data lead to almost the same value for income elasticity, whereas with respect to working adult elasticity the similarity is less pronounced.
Capital taxation is currently under debate, basically due to problems of administrative control and proper assessment of the levied assets. We analyze both problems focusing on a capital tax, the annual wealth tax (WT), which is only applied in five OECD countries, being Spain one of them. We concentrate our analysis on top 1% adult population, which permits us to describe the evolution of wealth concentration in Spainalong 1983-2001. On average top 1% holds about 18% of total wealth, which rises to 19% when tax incompliance and under-assessment is corrected for housing, the main asset. The evolution suggests wealth concentration has risen. Regarding WT, we analyze whether it helps to reduce wealth inequality or, on the contrary, it reinforces vertical inequity (due to especial concessions) and horizontal inequity (due to the de iure and to de facto different treatment of assets). We analyze in detail housing and equity shares. By means of a time series analysis, we relate the reported values with reasonable price indicators and proxies of the propensity to save. We infer net tax compliance is extremely low, which includes both what we commonly understand by (gross) tax compliance and the degree of under-assessment due to fiscal legislation (for housing). That is especially true for housing, whose level of net tax compliance is well below 50%. Hence, we corroborate the difficulties in taxing capital, and so cast doubts on the current role of the WT in Spain in reducing wealth inequality.
José Mª Durán Cabré (IEB); Alejandro Esteller Moré (IEB)
This paper analyses how fiscal adjustment comes about when both central and sub-national governments are involved in consolidation. We test sustainability of public debt with a fiscal rule for both the federal and regional government. Results for the German Länder show that lower tier governments bear a relatively smaller part of the burden of debt consolidation, if they consolidate at all. Most of the fiscal adjustment occurs via central government debt. In contrast, both the US federal and state levels contribute to consolidation of public finances.
Peter Claeys (AQR-IREA), Raúl Ramos (AQR-IREA), Jordi Suriñach (AQR-IREA)
This paper investigates the extent to which the gap in total factor productivity between small and large firms is due to differences in the endowment of factors determining productivity and to the returns associated with these factors. We place particular emphasis on the contribution of differences in the propensity to innovate and in the use of skilled labor across firms of different size. Empirical evidence from a representative sample of Spanish manufacturing firms corroborates that both differences in endowments and returns to innovation and skilled labor significantly contribute to the productivity gap between small and large firms. In addition, it is observed that the contribution of innovation to this gap is caused only by differences in quantity, while differences in returns have no effect; in the case of human capital, however, most of the effect can be attributed to increasing differences in returns between small and large firms.
Laia Castany (AQR-IREA); Enrique López-Bazo (AQR-IREA) and Rosina Moreno (AQR-IREA)
This empirical work studies the influence of immigrant students on individuals’ school choice in one of the most populated regions in Spain: Catalonia. It has estimated, following the Poisson model, the probability that a certain school, which immigrant students are already attending, may be chosen by natives as well as by immigrants, respectively. The information provided by the Catalonia School Department presents school characteristics of all the primary and secondary schools in Catalonia during the 2001/02 and 2002/03 school years. The results obtained support the evidence that Catalonia native families avoid schools attended by immigrants. Natives certainly prefer not to interact with immigrants. Private schools are more successful in avoiding immigrants. Finally, the main reason for non-natives’ choice is the presence of other non-natives in the same school.
La composición de la población española ha cambiado en los últimos años debido a la llegada de la población inmigrante. En este trabajo se acota cuánto podría llegar a cambiar la esperanza de vida en salud y en discapacidad de la población española, debido a la incorporación de un nuevo colectivo. La metodología propuesta permite calcular el máximo cambio posible en la esperanza de vida en salud y en discapacidad, en función de un porcentaje fijo de inmigración, y con el supuesto de mantenimiento de la mortalidad. Los resultados permiten analizar cambios en los costes de la dependencia para los mayores de 65 años.
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.
