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…

Seminario 16/03: – Manuel García-Santana (U. Pompeu Fabra) – Growing like Spain: 1995-2007

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Abstract Spanish GDP grew at an average rate of 3.5% per year during the expansion of 1995- 2007, above the EU average of 2.2%. However, this growth was based on factor accumulation rather than productivity gains. In particular, TFP fell at an annual rate of 0.7%, while it increased at 0.4% in the EU and…

4 Diciembre: Seminario 2015/28 – J.A. García-Martínez (U. Miguel Hernández) – A theory of media self-silence

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Abstract This paper proposes a theory of media silence. The argument is that news organizations have the power to raise public concern and so affect the probability that there is ex-post verification of the true state of the world. Following the seminal article by Gentzkow and Shapiro (2006), we consider a newspaper that seeks to…

30 Octubre: Seminario 2015/22 – M. I. González-Martínez (U. Murcia) – Nonconstant reputation effect in a dynamic tourism demand model for Spain

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Abstract Following the ideas of the Tourism Area Life Cycle (TALC) theory, we propose a dynamic econometric model for tourism demand where the reputation effect (the effect of the lagged demand on the current tourism demand) is not constant, but dependent on congestion. We test the model using panel data from Spanish regions during the…

23 Octubre: Seminario 2015/21 – M. Solaz (U. Valencia) – Especialización productiva y comercial y generación de valor añadido en la economía española

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Abstract Siguiendo la metodología propuesta por Koopman, Wang y Wei (2014) y a partir del banco de datos generado en base a las tablas input-output internacionales de la World Input-Output Database (WIOD), el trabajo analiza la integración de la economía española y sus distintos sectores en las cadenas globales de valor (CGV) a lo largo…