Seminario:- José Rueda Llano (Friedrich-Schiller University, Jena, Germany)

Abstract: The appeal of the concept of perfectly competitive equilibrium (PCE), to describe the outcome of trade in competitive markets, relies on three assumptions: 1) in the absence of frictions, PCE is the result of the centralized or decentralized interaction of rational agents, 2) whenever the market is out of equilibrium, an adjustment process would…

Seminario: -Mª Pilar Martínez García (U. Murcia)- Tourism, environment and growth in an economy with pollution abatement activities

Abstract: In this paper a dynamic model of economic growth, tourism and environment is studied. The model considers tourists in the economy as optimizing agents, interacting with domestic consumers. The number of tourists arriving in the country follows the Tourism Are Life-cycle model with a tourism carrying capacity dependent on environmental quality. Tourism hurts environment and abatement activities have…

Seminario 17/13: Miguel González Maestre (U. Murcia) – Populist Traps under Democratic Competition Policy

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Abstract In a two-sector economy, we consider the endogenous determination of the level of competition in the imperfectly competitive sector, under democratic, non-manipulated voting. In the context of the Salop’s (1979) circular model, we identify conditions such that besides a competitive equilibrium (with most voters choosing the efficient level of transport cost), a “populist” equilibrium…

Seminario 17/05: – Luís C. Corchón (U. Carlos III)- Oligopolistic Equilibrium and Financial Constraints

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Abstract We provide a model of dynamic duopoly in which firms take into account the financial constraints of all firms. The study of the equilibria of our dynamic game leads to the concept of Bankruptcy-Free outputs (BF) in which no firm can drive another firm to bankruptcy without becoming bankrupt itself. We show that, in…

Seminario 17/03: – Asier Minondo Uribe-Etxeberria (U. Deusto) – The contribution of fundamental and granular comparative advantage to export specialization

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Abstract: Neoclassical models of international trade do not grant firms any role in shaping countries’ export specialization. However, the evidence shows that in many countries few firms dominate sectoral exports. In this paper we propose an easy-to-implement methodology to determine the contribution of country-level variables, fundamental comparative advantage, and firm-level variables, granular comparative advantage, to…

Seminario 16/17: Pedro Marques (Instituto Ingenio, CSIC-UPV) -The six presumptions of smart specialisation

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Abstract: For the funding period of 2014-2020, the European Union demanded from all regions or countries the design of a ‘smart specialisation’ strategy. One of the main goals of this strategy was to shift cohesion fund spending away from infrastructure and to encourage policies that stimulate innovation and increase business competitiveness. A second major goal…

Seminario 16/09: – Berta Ferrer (U. Lleida)- How and how much do air travellers spend? Bringing trip budget share and trip total expenditure together

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Microeconometric analysis of tourist expenditure as a function of traveler characteristics has focused on total absolute expenditure, on absolute expenditures per trip budget parts, and in relative terms per trip budget parts. The analysis of absolute trip expenditure by budget parts confounds how much (budget volume) and how (budget allocation) tourists spend, while that of…

Seminario 16/07: – Alejandro Cuñat (U. Viena)- Offshoring and Skill-upgrading in French Manufacturing: A Heckscher-Ohlin-Melitz View

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Abstract: We present a factor-proportions trade model in which heterogeneous firms can offshore intermediate inputs subject to fixed offshoring costs. In the skill-abundant country, high-productivity firms offshore a larger range of labor-intensive inputs to the labor-abundant countries than low-productivity firms. Differently from the traditional versions of factor-proportions trade theory, Heckscher-Ohlin forces operate at the within-industry…

Seminario 16/05: -Asier Mariscal (U. Alicante) – How Firms Accumulate Inputs: Evidence from Import Switching

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Abstract: We uncover new dynamic patterns related to importers age and the macroeconomic environment that static models cannot explain. Our patterns are related to import switching, i.e., the simultaneous adding and dropping of intermediates at the firm level. Three facts stand out. First, switching is pervasive as 65% of firms do it and, at the…