- Fecha(s): 16/01/2015
- Lugar: Seminario del Departamento de Métodos Cuantitativos para la Economía y Empresa, UMU. Se retransmitirá en directo.
- Ponente: Francisco Alcalá, Universidad de Murcia
Abstract There appears to be notable differences in average effort at work (pace and attentiveness) across countries, which affect relative TFP and comparative advantage. These differences are typically assumed to be the consequence of an exogenous cultural trait: industriousness; more industrious countries would thrive relative to more indolent ones. However, it is hard to accept…
- Fecha(s): 15/01/2015
- Lugar: Seminario del Departamento de Métodos Cuantitativos para la Economía y Empresa, UMU. Se retransmitirá en directo.
- Ponente: Oscar Arce, Banco de España
Abstract We assess the effects of reforms in product and labor markets in a model economy featuring credit restrictions and pre-existing long-term debt. Both elements, which are core features of the current scenario faced by some Euro area countries, combine to produce a slow deleveraging of the private sector and a persistent recession following a…
- Fecha(s): 17/12/2014
- Lugar: Seminario del Departamento de Métodos Cuantitativos para la Economía y Empresa, UMU. Se retransmitirá en directo.
- Ponente: María Victoria Caballero, UMU
Abstract In this paper we introduce the symbolic correlation integral SC(m), which avoids the noisy parameter » of the classical correlation integral defined by Grassberger-Procaccia. Moreover we provide the asymptotic distribution of SC(m) under the null of i.i.d. With a MonteCarlo simulation we show the size and the power performance of the new test under…
- Fecha(s): 11/12/2014
- Lugar: Seminario del Dpto de Métodos Cuantitativos para la Economía y la Empresa, Facultad de Economía y Empresa, Murcia. Se procurará retransmitirlo en directo para doctorandos/as e investigadores/as remotos/as del Programa.
- Ponente: José Antonio Espín Sánchez, Yale University
ABSTRACT: In 1966, the irrigation community in Mula (Murcia, Spain) switched from a market (auction), which had been in place in the town for over 700 years, to a system of fixed quotas with a ban on trading, to allocate water from the town’s river. We present a model, in which farmers face liquidity constraints…
- Fecha(s): 05/12/2014
- Lugar: Seminario Mtnez Gallur, Facultad de Economía y Empresa Campus de Espinardo, Murcia. Se procurará la retransmisión en directo para doctorandos/as e investigadores/as remotos/as del Programa.
- Ponente: Juan Carlos Negrete, UMU
ABSTRACT: We consider a monetary union where discretionary monetary policy creates the classical inflation bias. We analyze how the design of the central bank interacts with fiscal policy under distortionary taxation. We show that when countries share a single currency the perils of not having a conservative enough central bank are more severe. This result…
- Fecha(s): 27/11/2014
- Lugar: Seminario del Dpto de Métodos Cuantitativos para la Economía y la Empresa, UMU. Retransmisión en directo vía el AV.
- Ponente: Daniel Tirado Fábregat, Universidad de Barcelona
ABSTRACT: Según los datos ofrecidos por el Eurostat Regional Yearbook de 2012, la persistencia de una elevada desigualdad territorial sigue siendo uno de los grandes problemas que enfrenta la Unión Europea. Si tomamos las NUTS2 como unidad territorial básica, el PIB per cápita de la región más rica de EU27 (Inner London) alcanza un valor…
- Fecha(s): 20/11/2014
- Lugar: Seminario del Dpto de Métodos Cuantitativos para la Economía y la Empresa, Facultad de Economía y Empresa, Murcia. Se procurará retransmitirlo en directo para doctorandos/as e investigadores/as remotos/as del Programa.
- Ponente: María Angeles Carnero, Universidad de Alicante
ABSTRACT: The identification of asymmetric conditional heteroscedasticity is often based on sample cross-correlations between past and squared observations. In this paper we analyse the effects of outliers on these cross-correlations and, consequently, on the identification of asymmetric volatilities. We show that, as expected, one isolated big outlier biases the sample cross-correlations towards zero and hence could hide true leverage…
- Fecha(s): 07/11/2014
- Lugar: Seminario Mtnez Gallur, Facultad de Economía y Empresa Campus de Espinardo, Murcia. RETRANSMISIÓN EN DIRECTO
- Ponente: Francisco Alcalá, UMU
ABSTRACT: The quality dimension of consumption plays a distinctive and important role in many economic areas. This paper provides a new approach to the demand for quality building from the fact that consumption has to be combined with time to produce utility. Focusing on the implications of this approach on the labor supply, the paper…
- Fecha(s): 06/11/2014
- Lugar: Seminario del Dpto de Métodos Cuantitativos para la Economía y la Empresa, Facultad de Economía y Empresa, Murcia. Se procurará retransmitirlo en directo para doctorandos/as e investigadores/as remotos/as del Programa.
- Ponente: Susana Álvarez, UMU
ABSTRACT: Classical option pricing models are not well suited to the valuation of executive stock options (ESOs) and their incentive effects. The special characteristics of ESOs make standard methods difficult to apply to these options. The Wu-Lin model is a completely analytical expression based on the common feature of attaching performance targets to option vesting….
- Fecha(s): 24/10/2014
- Lugar: Seminario Mtnez Gallur, Facultad de Economía y Empresa Campus de Espinardo, Murcia. RETRANSMISIÓN EN DIRECTO
- Ponente: Fernando Broner, Universidad Pompeu Fabra, MIT
Abstract: We study the determinants of comparative advantage in polluting industries. We combine data on environmental policy at the country level with data on pollution intensity at the industry level to show that countries with laxer environmental regulation have a comparative advantage in polluting industries. Further, we address the potential problem of reverse causality. We…