Spanish Economic Review
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How do consumers switch between close substitutes when price variation is small? The case of cigarette types
Spanish Economic Review - - 2006
Past empirical studies report ambiguous results regarding the magnitude and
significance of substitution between different types of smoking tobacco. Since
all types of tobacco contain nicotine this is quite surprising. Using a 20-year
rotating panel data set of Norwegian households and a multinomial logit model,
we find evidence that consumers switch between tobacco types: first, estimated
price e...
Econometric applications of positive rank-one modifications of the symmetric factorization of a positive semi-definite matrix
Spanish Economic Review - Tập 1 - Trang 79-90 - 1999
We present an algorithm for updating the symmetric factorization of a positive
semi-definite matrix after a positive rank-one modification, which works even if
the matrices involved do not have full rank. Recursive least squares and factor
analysis provide two important econometric applications. An illustrative
simulation shows that it can be potentially very useful in recursive situations.
Causes and consequences of exports' channel integration
Spanish Economic Review - Tập 4 - Trang 239-259 - 2002
This paper investigates the decision to export with a proprietary exports
channel by Spanish manufacturing firms. The research focuses on the effects of
organizational capabilities versus scale economies on the vertical integration
decision, and postulates a system of two simultaneous equations to properly
evaluate the influence of a proprietary exports channel on the volume of
exports. The result...
Relative wages, labor specialization and bargaining patterns
Spanish Economic Review - Tập 3 - Trang 211-221 - 2001
The goal of this paper is to study the effects of centralized and decentralized
bargaining patterns on wage inequality when there are two different types of
labor, skilled and unskilled. We present two models where labor is specialized
between firms, that is, there are two types of firms, each one employing one
type of labor. We show that the revenue shares of the production factors in each
type o...
Games of strategic complementarities: an application to Bayesian games
Spanish Economic Review - Tập 9 - Trang 237-247 - 2007
This paper provides an introduction to the theory of games of strategic
complementarities, considers Bayesian games, and provides an application to
global games.
Monetary policy and exchange rate dynamics in the Spanish economy
Spanish Economic Review - Tập 1 - Trang 55-77 - 1999
As the Spanish economy gets more integrated in international markets, the real
exchange rate becomes a key determinant of the monetary transmission. In this
paper we trace out the dynamic response of prices, output and the exchange rate
following a monetary policy shock. We estimate a structural VAR model whose
identification scheme is based on the long run properties common to a large
class of mo...
Outline of forecast theory using generalized cost functions
Spanish Economic Review - Tập 1 - Trang 161-173 - 1999
The cost functions used to form forecasts in practice may be quite different
than the squared costs that is often assumed in forecast theory. The impact on
evaluation procedures is determined and simple properties for the derivate of
the cost function of the errors are found to provide simple tests of optimality.
For a very limited class of situations are forecasts based on conditional means
optim...
Sample attrition and labor force dynamics: Evidence from the Spanish labor force survey
Spanish Economic Review - Tập 4 - Trang 79-102 - 2002
In this paper we examine a number of issues that arise in investigating labor
force dynamics using the Spanish Labor Force Survey (EPA). These issues are by
no means specific to the Spanish case and apply to most European-style labor
force surveys. Our main conclusions may be summarized as follows. First, survey
nonresponse cannot be neglected. Second, the EPA tends to underestimate
employment and...
Publishing performance of Spanish academics: 1970—2004
Spanish Economic Review - - 2006
This work complements some of the results appearing in the article “Publishing
Performance in Economics: Spanish Rankings” by Dolado et al. (Span Econ Rev 5:
80–103, 2003) Specifically we focus on the robustness of the results regardless
of the time span considered, the effect of the choice of a particular database
on the final results, and the effects on changes in the unit of institutional
measu...
On the impact of leverage constraints on asset prices and trading volume
Spanish Economic Review - Tập 5 - Trang 123-151 - 2003
Abstract. Researchers have used stylized facts on asset prices and trading
volume in stock markets (in particular, the mean reversion of asset returns and
the correlations between trading volume, price changes and price levels) to
support theories where agents are not rational expected utility maximizers. This
paper shows that this empirical evidence is in fact consistent with a standard
infinite ...
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