This paper addresses the long-term impacts of climate change on wind speed and, therefore, on wind energy generation. A projection of wind speed was carried out for four selected wind farms in Spain, using an ensemble of three climate models, two scenarios (RCP 4.5 and 8.5) and two time periods (2018-2041 and 2042-2065) per plant….
Abstract: This paper adds the standard input–output linkages into a multi-sector endogenous growth model to study the interaction effects between linkages and technology adoption for aggregate productivity and for income per capita. We show that the greater the intensity with which a good is used as input by other sectors, the smaller are the technology…
CANCELADO POR ENFERMEDAD DEL PONENTE. SE AVISARÁ CUANDO SE FIJE OTRA POSIBLE FECHA. ABSTRACT Relevant empirical findings point at the actual use of explicit (but imperfectly en- forceable) formal contracts by businesses alongside substantial informal dimensions in the relationship. In this paper we formally show the supporting role that formal contracts play for relational interactions. …
The homeownership plays an important role in the wealth accumulation, given that the real estate represents over the half of the private households’ wealth. For more than a century, the governments in the market economies have striven to maximize the proportion of households who occupy their own dwellings. The homeowners are thought to be better…
ABSTRACT. Temptation and self-control evolved as single mechanism to make humans behave against their own self-interest. I follow a recent literature in Economics on the evolution of preferences, by modeling the evolution of self-control in a principal-agent framework. The principal can obtain the first best asymptotically by biasing the utility of the agent (from which…
Abstract Which are the factors affecting the long run sustainability of GDP growth? This paper discusses a potentially important one that has been disregarded so far: the shift in advanced economies from quantity to quality growth. First, the paper lays down a simple model introducing the quality dimension of consumption into the IPAT analytical framework….
Abstract Los indicadores económicos demuestran que en Colombia hubo crecimiento económico de largo plazo durante el siglo XX. La estatura promedio de mujeres y hombres aumentó 0.05% y 0.06% anual, respectivamente, entre 1920 y 1990. Utilizando una base de datos única, los registros de certificados de antecedentes judiciales del antiguo Departamento Administrativo de Seguridad (DAS)…
Abstract We consider two families of strategy-proof social choice functions based on the majority principle: extended majority voting rules on the universal domain of preferences over two alternatives and generalized median voter schemes on the domain of single-peaked preferences over a finite and linearly ordered set of alternatives. We characterize their respective subclasses of obviously…
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…
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…
