http://www.recercat.cat:80/handle/2072/1168 webs2002.uab.es/suab69w/ 2012-02-11T21:44:17Z http://www.recercat.cat:80/handle/2072/171394 Uranium reserve, nuclear fuel cycle delusion, CO2 emission from the sea, and electricity supply: reflections after the fuel meltdown of Fukushima nuclear power units Mayumi, Kozo; Polimeni, John M. The Great Tohoku-Kanto earthquake and resulting tsunami has brought considerable attention to the issue of the construction of new power plants. We argue in this paper, nuclear power is not a sustainable solution to energy problems. First, we explore the stock of uranium-235 and the different schemes developed by the nuclear power industry to exploit this resource. Second, we show that these methods, fast breeder and MOX fuel reactors, are not feasible. Third, we show that the argument that nuclear energy can be used to reduce CO2 emissions is false: the emissions from the increased water evaporation from nuclear power generation must be accounted for. In the case of Japan, water from nuclear power plants is drained into the surrounding sea, raising the water temperature which has an adverse affect on the immediate ecosystem, as well as increasing CO2 emissions from increased water evaporation from the sea. Next, a short exercise is used to show that nuclear power is not even needed to meet consumer demand in Japan. Such an exercise should be performed for any country considering the construction of additional nuclear power plants. Lastly, the paper is concluded with a discussion of the implications of our findings. 2011-01-01T00:00:00Z http://www.recercat.cat:80/handle/2072/171393 Aigua, agricultura i regadiu a la Catalunya contemporània, 1800-2010 Garrabou, Ramon, 1937-; Ramón-Muñoz, Josep Maria L‟objectiu d‟aquest article és mostrar quina ha estat l‟evolució i les característiques del regadiu a Catalunya entre mitjan segle XIX i principis del segle XXI. Per portar-ho a terme, a més d‟aquesta introducció, el text s‟estructura en quatre seccions. En la primera s‟expliquen quines havien estat les principals respostes de l‟agricultura tradicional a les disponibilitats d‟aigua i es destaca el paper que va tenir el regadiu. En la segona s‟analitzen els principis, les planificacions i els programes de foment del regadiu sorgits de la política hidràulica implementada per l‟estat espanyol entre finals del segle XIX i la dictadura franquista. En la tercera es destaca el protagonisme de la gran hidràulica i es mostra l‟evolució del regadiu i de la capacitat d‟embassament a Catalunya. Finalment, en la quarta secció, es realitza un balanç de la política de grans obres hidràuliques que ha imperat durant el segles XIX i XX i es destaca l‟emergència del nou paradigma hidràulic de la nova cultura de l‟aigua. 2011-01-01T00:00:00Z http://www.recercat.cat:80/handle/2072/171392 Resiliencia, territorios y empleo: el caso de las comarcas catalanas Rosell Foxà, Jordi; Viladomiu, Lourdes; Mancilla Mancilla, Claudio Andrés La resiliencia es un concepto que ayuda a explicar el diferencial de los territorios para responder, reaccionar y enfrentarse a diferentes shocks con impacto económico. Los debates sobre desarrollo regional han dejado de centrarse exclusivamente en el crecimiento, para abarcar la resiliencia relativa de los territorios en responder a las crisis. Este artículo busca determinar el impacto de diferentes factores en el grado de resiliencia de las comarcas de Cataluña. Los resultados indican que la densidad empresarial, la especialización sectorial, el porcentaje de población extranjera, y el carácter de ruralidad impactan sobre el nivel de resiliencia de estos territorios. 2011-01-01T00:00:00Z http://www.recercat.cat:80/handle/2072/169667 Indicadores de desempeño educativo regional: metodología y resultados para los cursos 2005-06 a 2007-08 Fuente, Ángel de la; Gundín, María En esta nota se recopilan y/o construyen algunos indicadores de desempeño para los sistemas educativos de las regiones españolas durante los cursos 2005-06 a 2007-08 a partir de la información suministrada por diversas publicaciones del Ministerio de Educación. Aunque el trabajo se concentra en los niveles educativos no universitarios, se ofrecen también algunos resultados preliminares a nivel universitario. 2011-09-13T00:00:00Z http://www.recercat.cat:80/handle/2072/169666 A non-possibility theorem for joint-stability in interindustry models Guerra, Ana-Isabel; Sancho, Ferran Joint-stability in interindustry models relates to the mutual simultaneous consistency of the demand-driven and supply-driven models of Leontief and Ghosh, respectively. Previous work has claimed joint-stability to be an acceptable assumption from the empirical viewpoint, provided only small changes in exogenous variables are considered. We show in this note, however, that the issue has deeper theoretical roots and offer an analytical demonstration that shows the impossibility of consistency between demand-driven and supply-driven models. 2011-09-07T00:00:00Z http://www.recercat.cat:80/handle/2072/169665 Sharing the surplus in games with externalities within and across issues Diamantoudi, Effrosyni; Macho-Stadler, Inés; Pérez-Castrillo, David; Xue, Licun We consider environments in which agents can cooperate on multiple issues and externalities are present both within and across issues. We propose a way to extend (Shapley) values that have been put forward to deal with externalities within issues to games where there are externalities within and across issues. We characterize our proposal through axioms that extend the Shapley axioms to our more general environment. 2011-08-01T00:00:00Z http://www.recercat.cat:80/handle/2072/169664 Growth, unemployment and wage inertia Raurich, Xavier; Sorolla, Valeri We introduce wage setting via efficiency wages in the neoclassical one-sector growth model to study the growth effects of wage inertia. We compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy without wage inertia. We show that wage inertia affects the long run employment rate and that the transitional dynamics of the main economic variables will be different because wages are a state variable when wage inertia is introduced. In particular, we show non-monotonic transitions in the economy with wage inertia that do not arise in the economy with flexible wages. We also study the growth effects of permanent technological and fiscal policy shocks in these two economies. During the transition, the growth effects of technological shocks obtained when wages exhibit inertia may be the opposite from the ones obtained when wages are flexible. In the long run, these technological shocks may have long run effects if there is wage inertia. We also show that the growth effects of fiscal policies will be delayed when there is wage inertia. 2011-07-26T00:00:00Z http://www.recercat.cat:80/handle/2072/169663 La Financiación territorial en España: situación actual y propuestas de reforma Fuente, Ángel de la En el presente informe se realiza un análisis crítico del sistema español de financiación territorial y se avanzan una serie de recomendaciones para su reforma. La principal conclusión del trabajo es que el modelo actual no se adecua satisfactoriamente a los principios de igualdad, autonomía, responsabilidad y transparencia que deberían orientar su diseño y puede dificultar el cumplimiento de los objetivos básicos de la política macroeconómica. La solución de estos problemas exigiría una reforma en profundidad del sistema actual en la línea que se esboza en la parte final del documento. En el análisis se distingue entre el subsistema de régimen común en el que se integran la mayoría de las comunidades autónomas y el subsistema foral que se aplica en el País Vasco y Navarra. El sistema de régimen común ha sido objeto recientemente de una reforma que ha introducido novedades importantes en su estructura y filosofía. En el lado positivo, la nueva ley se ha traducido en una distribución más equitativa de los recursos asignados a las regiones, reduciendo de forma apreciable la dispersión de la financiación por unidad de necesidad en relación con el sistema anterior. Otra mejora significativa ha sido la creación del Fondo de Garantía, un instrumento que, por primera vez en la historia del sistema, permite ir adaptando la financiación a las cambiantes circunstancias regionales, ofreciendo así a las comunidades autónomas un seguro parcial contra los riesgos ligados a la evolución de sus ingresos y sus necesidades de gasto. A pesar de que éstas son mejoras importantes, el balance global de la reforma no es positivo. El nuevo acuerdo no resuelve satisfactoriamente los problemas que obligaron a la reforma de su antecesor, es bastante más complejo y opaco que éste, introduce un mecanismo de nivelación parcial de dudoso encaje constitucional, opta por un reparto inicial incierto que podría ser difícilmente aceptable ex-post para algunas regiones, y no ha abordado otros problemas estructurales del sistema, incluyendo su excesiva sensibilidad al ciclo económico. El sistema foral tampoco está libre de problemas. Tal como se ha implementado en la práctica, el modelo vasco-navarro de concierto o convenio supone una violación flagrante de la prohibición constitucional de que los regímenes autonómicos comporten privilegios económicos o sociales y constituye una fuente permanente de inestabilidad para el sistema de régimen común al ser percibido como un agravio comparativo en las regiones no forales de mayor renta, y en particular, en Cataluña. Según mis cálculos, la financiación por habitante del País Vasco es superior en un 60% a la media de las regiones de régimen común a igualdad de competencias y la situación no es muy distinta en Navarra. El origen de esta anomalía está en las leyes quinquenales del Cupo, donde los principios y procedimientos de valoración establecidos en la ley del Concierto se concretan de una forma muy discutible. Los problemas fundamentales que se detectan son dos. Primero, la valoración de las competencias estatales no asumidas por el País Vasco que se recoge en los anexos de las leyes quinquenales está fuertemente sesgada a la baja. Y segundo, el ajuste por IVA se realiza utilizando valores desfasados de los coeficientes que recogen el peso del País Vasco en el consumo nacional y en la base del impuesto. El efecto conjunto de ambos factores ha sido el de rebajar la contribución vasca a los gastos del Estado en 2.800 millones de euros en 2002 y en casi 4.500 millones en 2007, lo que supone respectivamente un 6,21% y un 6,89% del PIB del País Vasco. Dado todo esto, resulta difícil evitar la conclusión de que el diseño del sistema de financiación regional sigue siendo un problema abierto que no tardará mucho en volver a ocupar un lugar preferente en la agenda política nacional. Es de esperar que la próxima reforma del modelo sea algo más meditada que la aprobada el pasado diciembre y sirva realmente para dotar de un diseño razonable a uno de los elementos más críticos de nuestra arquitectura legal. Para alcanzar este objetivo, será necesario realizar una serie de reformas que pueden agruparse en tres grandes líneas de actuación: garantizar el cumplimiento efectivo del principio de igualdad, reforzar la responsabilidad fiscal de los gobiernos regionales y asegurar que el sistema contribuye a alcanzar los objetivos fundamentales de la política macroeconómica, o al menos que no dificulta su cumplimiento. Entre las medidas recomendadas cabría destacar las siguientes: - Corregir gradualmente el fuerte sesgo a la baja que existe actualmente en el cálculo de la aportación de los territorios forales a la hacienda central. Para ello no hace falta modificar las leyes del Concierto vasco y el Convenio navarro. Bastaría con que en las correspondientes leyes quinquenales se realizase una valoración razonable de las competencias que permanecen en manos del Estado, entre las que habría de incluirse la nivelación interregional, y se actualizasen los coeficientes que se utilizan para calcular el ajuste por IVA. - Recuperar la garantía de igualdad de acceso de todos los ciudadanos al conjunto de los servicios públicos como principio básico orientador del diseño del sistema de financiación y asegurar su aplicación efectiva en la práctica. Con este fin, sería aconsejable eliminar el Fondo de Suficiencia (excepto como vehículo para la financiación de las competencias singulares) y los Fondos de Convergencia para repartir el conjunto de los recursos del sistema de acuerdo con la fórmula de necesidades de gasto que actualmente se aplica sólo a la dotación del Fondo de Garantía. Con el fin de evitar la necesidad de fuertes recortes en la financiación de algunas comunidades, convendría hacer una transición suave desde la asignación actual hasta la derivada de la fórmula. - Introducir ciertos retoques en la actual fórmula de necesidades de gasto, incluyendo la recuperación de una partida que permita sufragar los costes fijos ligados a las instituciones de autogobierno y a ciertos servicios autonómicos así como la introducción de una corrección por diferencias en niveles de precios entre regiones. - Desdoblar el IRPF, el IVA y los Impuestos Especiales en un tramo estatal y otro autonómico claramente diferenciados, abandonando los actuales porcentajes de cesión. Los dos tramos serían regulados de forma independiente, aunque manteniendo en manos del Estado la determinación de la base imponible y la gestión del impuesto. - Dotar a las comunidades autónomas de competencias normativas sobre un tramo de los principales tributos indirectos y sobre los elementos de copago en sanidad, educación y otros servicios. Dada la oposición de la Comisión Europea a cualquier cambio normativo que pueda abrir la puerta a la existencia de tipos impositivos diferenciados regionalmente, el poder de decisión sobre el tramo autonómico del IVA y los Impuestos Especiales deberá ejercerse de forma colegiada por el conjunto de las comunidades autónomas, que habrán de fijar tipos uniformes en todo el territorio nacional. - Establecer un Fondo de Estabilización Presupuestaria, que se nutriría con el 'exceso' de recudación tributaria que se genera en la parte alta del ciclo económico y serviría para complementar los ingresos autonómicos en la parte baja del mismo. - Reformar la legislación sobre estabilidad presupuestaria para fijar a las comunidades autónomas un objetivo de equilibrio presupuestario año a año similar al que ya tienen las corporaciones locales y para concretar las medidas extraordinarias que el Estado podrá imponer a las administraciones territoriales en situaciones de 'emergencia presupuestaria'. 2010-09-26T00:00:00Z http://www.recercat.cat:80/handle/2072/169662 A Many-to-many 'rural hospital theorem' Klijn, Flip We show that the full version of the so-called 'rural hospital theorem' (Roth, 1986) generalizes to many-to-many matching where agents on both sides of the market have separable and substitutable preferences. 2011-06-27T00:00:00Z http://www.recercat.cat:80/handle/2072/169661 Growth, selection and appropriate contracts Bonfiglioli, Alessandra; Gancia, Gino We study a dynamic model where growth requires both long-term investment and the selection of talented managers. When ability is not ex-ante observable and contracts are incomplete, managerial selection imposes a cost, as managers facing the risk of being replaced tend to choose a sub-optimally low level of long-term investment. This generates a trade-off between selection and investment that has implications for the choice of contractual relationships. Our analysis shows that rigid long-term contracts sacrificing managerial selection may be optimal at early stages of economic development and when access to information is limited. As the economy grows, however, knowledge accumulation increases the return to talent and makes it optimal to adopt flexible contractual relationships, where managerial selection is implemented even at the cost of lower investment. Better institutions, in the form of a richer contracting environment and less severe informational frictions, speed up the transition to short-term relationships. 2011-06-17T00:00:00Z http://www.recercat.cat:80/handle/2072/169660 Vintage capital growth theory: three breakthroughs Boucekkine, Raouf; De La Croix, David; Licandro, Omar Vintage capital growth models have been at the heart of growth theory in the 60s. This research line collapsed in the late 60s with the so-called embodiment controversy and the technical sophisitication of the vintage models. This paper analyzes the astonishing revival of this literature in the 90s. In particular, it outlines three methodological breakthroughs explaining this resurgence: a growth accounting revolution, taking advantage of the availability of new time series, an optimal control revolution allowing to safely study vintage capital optimal growth models, and a vintage human capital revolution, along with the rise of economic demography, accounting for the vintage structure of human capital similarly to physical capital age structuring. The related literature is surveyed. 2011-06-15T00:00:00Z http://www.recercat.cat:80/handle/2072/152049 Indirect likelihood inference Creel, Michael; Kristensen, Dennis Given a sample from a fully specified parametric model, let Zn be a given finite-dimensional statistic - for example, an initial estimator or a set of sample moments. We propose to (re-)estimate the parameters of the model by maximizing the likelihood of Zn. We call this the maximum indirect likelihood (MIL) estimator. We also propose a computationally tractable Bayesian version of the estimator which we refer to as a Bayesian Indirect Likelihood (BIL) estimator. In most cases, the density of the statistic will be of unknown form, and we develop simulated versions of the MIL and BIL estimators. We show that the indirect likelihood estimators are consistent and asymptotically normally distributed, with the same asymptotic variance as that of the corresponding efficient two-step GMM estimator based on the same statistic. However, our likelihood-based estimators, by taking into account the full finite-sample distribution of the statistic, are higher order efficient relative to GMM-type estimators. Furthermore, in many cases they enjoy a bias reduction property similar to that of the indirect inference estimator. Monte Carlo results for a number of applications including dynamic and nonlinear panel data models, a structural auction model and two DSGE models show that the proposed estimators indeed have attractive finite sample properties. 2011-05-19T00:00:00Z http://www.recercat.cat:80/handle/2072/152048 Gasto educativo por regiones y niveles en 2005 Fuente, Ángel de la; Boscá, J. E. En esta nota se construyen algunos indicadores de gasto educativo por estudiante para las distintas comunidades autónomas a partir de la información suministrada en diversas publicaciones del Ministerio de Educación y del INE para el año 2005. 2011-05-12T00:00:00Z http://www.recercat.cat:80/handle/2072/152047 Optimal coexistence of long-term and short-term contracts in labor Markets Macho Stadler, Inés; Pérez Castrillo, David; Porteiro Fresco, Nicolás We consider a market where firms hire workers to run their projects and such projects differ in profitability. At any period, each firm needs two workers to successfully run its project: a junior agent, with no specific skills, and a senior worker, whose effort is not verifiable. Senior workers differ in ability and their competence is revealed after they have worked as juniors in the market. We study the length of the contractual relationships between firms and workers in an environment where the matching between firms and workers is the result of market interaction. We show that, despite in a one-firm-one-worker set-up long-term contracts are the optimal choice for firms, market forces often induce firms to use short-term contracts. Unless the market only consists of firms with very profitable projects, firms operating highly profitable projects offer short-term contracts to ensure the service of high-ability workers and those with less lucrative projects also use short-term contracts to save on the junior workers' wage. Intermediate firms may (or may not) hire workers through long-term contracts. 2011-05-05T00:00:00Z http://www.recercat.cat:80/handle/2072/152046 A simple model of aggregate pension expenditure Fuente, Ángel de la This paper develops a simple model that can be used to analyze the long-term sustainability of the contributive pension system and the steady-state response of pension expenditure to changes in some key demographic and economic variables, in the characteristics of the average pensioner and in the parameters that describe how pensions are calculated in Spain as a function of workers' Social Security contribution histories. 2011-04-26T00:00:00Z http://www.recercat.cat:80/handle/2072/152045 Tax evasion, technology shocks, and the cyclicality of government revenues Caballé, Jordi; Panadés Martí, Judith This paper analyzes the behavior of the tax revenue to output ratio over the business cycle. In order to replicate the empirical evidence, we develop a simple model combining the standard Ak growth model with the tax evasion phenomenon. When individuals conceal part of their true income from the tax authority, they face the risk of being audited and hence of paying the corresponding fine. Under the empirically plausible assumptions that the intertemporal elasticity of substitution exhibits a sufficiently small value and that productivity shocks are serially correlated, we show that the elasticity of government revenue with respect to output is larger than one, which agrees with the empirical evidence. This result holds even if the tax system displays flat tax rates. We extend the previous setup to generate larger fiscal deficits when the economy experiences a recession. 2011-04-06T00:00:00Z http://www.recercat.cat:80/handle/2072/152044 Sectoral composition and macroeconomic dynamics Alonso Carrera, Jaime; Caballé, Jordi; Raurich, Xavier We analyze the transitional dynamics of a model with heterogeneous consumption goods. In this model, convergence is driven by two different forces: the typical diminishing returns to capital and the sectoral change inducing the variation in relative prices. We show that this second force affects the growth rate if the two consumption goods are not Edgeworth independent and if these two goods are produced with technologies exhibiting different capital intensities. Because the afore mentioned dynamic sectoral change arises only under heterogeneous consumption goods, the transitional dynamics of this model exhibits striking differences with the growth model with a single consumption good. We also show that these differences in the transitional dynamics can give raise to large discrepancies in the welfare cost of shocks between the economy with a unique consumption good and the economy with multiple consumption goods. 2011-04-05T00:00:00Z http://www.recercat.cat:80/handle/2072/152043 Parents, television and cultural change Hauk, Esther; Immordino, Giovanni This paper develops a model of cultural transmission where television plays a central role for socialization. Parents split their free time between educating their children which is costly and watching TV which though entertaining might socialize the children to the wrong trait. The free to air television industry maximizes advertisement revenue. We show that TV watching is increasing in cultural coverage, cost of education, TV's entertainment value and decreasing in the perceived cultural distance between the two traits. A monopolistic television industry captures all TV watching by both groups if the perceived cultural distance between groups is small relative to the TV's entertainment value. Otherwise, more coverage will be given to the most profitable group where profitability increases in group size, advertisement sensitivity and perceived cultural distance. This leads to two possible steady states where one group is larger but both groups survive in the long run. Competition in the media industry might lead to cultural extinction but only if one group is very insensitive to advertisement and not radical enough not to watch TV. We briefly discuss the existing evidence for the empirical predictions of the model. 2011-03-30T00:00:00Z http://www.recercat.cat:80/handle/2072/152042 Misallocation of capital in a model of endogenous financial intermediation and insurance Bohacek, Radim; Rodríguez Mendizábal, Hugo In this paper we analyze productivity and welfare losses from capital misallocation in a general equilibrium model of occupational choice and endogenous financial intermediation. We study the effects of borrowing and lending, insurance, and risk sharing on the optimal allocation of resources. We find that financial markets together with general equilibrium effects have large impact on entrepreneurs' entry and firm-size decisions. Efficiency gains are increasing in the quality of financial markets, particularly in their ability to alleviate a financing constraint by providing insurance against idiosyncratic risk. 2011-03-15T00:00:00Z http://www.recercat.cat:80/handle/2072/152041 Local and global consistency properties for student placement Klaus, Bettina; Klijn, Flip In the context of resource allocation on the basis of priorities, Ergin (2002) identifies a necessary and sufficient condition on the priority structure such that the student-optimal stable mechanism satisfies a consistency principle. Ergin (2002) formulates consistency as a local property based on a fixed population of agents and fixed resources -- we refer to this condition as local consistency and to his condition on the priority structure as local acyclicity. We identify a related but stronger necessary and sufficient condition (unit acyclicity) on the priority structure such that the student-optimal stable mechanism satisfies a more standard global consistency property. Next, we provide necessary and sufficient conditions for the student-optimal stable mechanism to satisfy converse consistency principles. We identify a necessary and sufficient condition (local shift-freeness) on the priority structure such that the student-optimal stable mechanism satisfies local converse consistency. Interestingly, local acyclicity implies local shift-freeness and hence the student-optimal stable mechanism more frequently satisfies local converse consistency than local consistency. Finally, in order for the student-optimal stable mechanism to be globally conversely consistent, one again has to impose unit acyclicity on the priority structure. Hence, unit acyclicity is a necessary and sufficient condition on the priority structure for the student-optimal stable mechanism to satisfy global consistency or global converse consistency. 2011-03-11T00:00:00Z http://www.recercat.cat:80/handle/2072/152040 El Impacto sobre el gasto de la reforma de las pensiones: una primera estimación Fuente, Ángel de la; Doménech, Rafael, 1962- En este trabajo se presenta una primera estimación del impacto de la reforma del sistema de pensiones acordada por el Gobierno y los agentes sociales en enero de 2011. Tras actualizar las proyecciones de gasto en pensiones realizadas por de la Fuente y Doménech (2009) para el período 2008-60, se analiza el impacto sobre esta variable de la elevación de la edad de jubilación hasta los 67 años, la ampliación del período de cómputo de las pensiones y el aumento en el número de años de cotización necesarios para alcanzar el 100% de la base reguladora. Condicionados a los supuestos realizados sobre la evolución del empleo, la productividad y la demografía, los resultados sugieren que estas medidas tendrán un impacto apreciable sobre el gasto en pensiones, con un ahorro que ascenderá a dos puntos de PIB al final del período transitorio en 2027. No obstante, dadas las incertidumbres existentes sobre la evolución futura de muchas de las variables que afectan a los resultados, sería deseable adelantar la introducción del llamado factor de sostenibilidad al inicio de la reforma, de forma que exista un mecanismo claro para modular el ritmo y el alcance de las reformas previstas si así lo exige la situación financiera del sistema antes del final del período transitorio. 2011-03-10T00:00:00Z http://www.recercat.cat:80/handle/2072/152039 Pseudomarkets with priorities in large random assignment economies Miralles, Antonio; I study large random assignment economies with a continuum of agents and a finite number of object types. I consider the existence of weak priorities discriminating among agents with respect to their rights concerning the final assignment. The respect for priorities ex ante (ex-ante stability) usually precludes ex-ante envy-freeness. Therefore I define a new concept of fairness, called no unjustified lower chances: priorities with respect to one object type cannot justify different achievable chances regarding another object type. This concept, which applies to the assignment mechanism rather than to the assignment itself, implies ex-ante envy-freeness among agents of the same priority type. I propose a variation of Hylland and Zeckhauser' (1979) pseudomarket that meets ex-ante stability, no unjustified lower chances and ex-ante efficiency among agents of the same priority type. Assuming enough richness in preferences and priorities, the converse is also true: any random assignment with these properties could be achieved through an equilibrium in a pseudomarket with priorities. If priorities are acyclical (the ordering of agents is the same for each object type), this pseudomarket achieves ex-ante efficient random assignments. 2011-03-08T00:00:00Z http://www.recercat.cat:80/handle/2072/152038 Testing for sufficient information in structural VARs Forni, Mario; Gambetti, Luca We derive necessary and sufficient conditions under which a set of variables is informationally sufficient, i.e. it contains enough information to estimate the structural shocks with a VAR model. Based on such conditions, we suggest a procedure to test for informational sufficiency. Moreover, we show how to amend the VAR if informational sufficiency is rejected. We apply our procedure to a VAR including TFP, unemployment and per-capita hours worked. We find that the three variables are not informationally sufficient. When adding missing information, the effects of technology shocks change dramatically. 2011-02-22T00:00:00Z http://www.recercat.cat:80/handle/2072/152037 No news in business cycles Forni, Mario; Gambetti, Luca; Sala, Luca This paper uses a structural, large dimensional factor model to evaluate the role of 'news' shocks (shocks with a delayed effect on productivity) in generating the business cycle. We find that (i) existing small-scale VECM models are affected by 'non-fundamentalness' and therefore fail to recover the correct shock and impulse response functions; (ii) news shocks have a limited role in explaining the business cycle; (iii) their effects are in line with what predicted by standard neoclassical theory; (iv) the bulk of business cycle fluctuations are explained by shocks unrelated to technology. 2011-02-21T00:00:00Z http://www.recercat.cat:80/handle/2072/152036 On the joint production of research and training Freitas, António; Macho Stadler, Inés Universities and research institutions have the responsibility to produce science and to provide training to new generations of researchers. In this paper, we propose a model to analyze the determinants of a senior scientist's decisions about allocating time between these tasks. The results of this decision depend upon the characteristics of the research project, the senior scientist's concern for training and the expected innate ability of the junior scientist involved. We analyze the role that a regulator can play in defining both the value of scientific projects and the future population of independent scientists. 2011-02-09T00:00:00Z http://www.recercat.cat:80/handle/2072/152035 Human capital and productivity Fuente, Ángel de la This paper surveys the empirical literature on human capital and productivity and summarizes the results of my own work on the subject. On balance, the available evidence suggests that investment in education has a positive, significant and sizable effect on productivity growth. According to my estimates, moreover, the social returns to investment in human capital are higher than those on physical capital in most EU countries and in many regions of Spain. 2011-01-31T00:00:00Z http://www.recercat.cat:80/handle/2072/152034 Candidate quality in a Downsian Model with a continuous policy space Aragonès, Enriqueta; Xefteris, Dimitrios This paper characterizes a mixed strategy Nash equilibrium in a one-dimensional Downsian model of two-candidate elections with a continuous policy space, where candidates are office motivated and one candidate enjoys a non-policy advantage over the other candidate. We assume that voters have quadratic preferences over policies and that their ideal points are drawn from a uniform distribution over the unit interval. In our equilibrium the advantaged candidate chooses the expected median voter with probability one and the disadvantaged candidate uses a mixed strategy that is symmetric around it. We show that this equilibrium exists if the number of voters is large enough relative to the size of the advantage. 2011-01-10T00:00:00Z http://www.recercat.cat:80/handle/2072/152033 Understanding the religious behaviour of Muslims in the Netherlands and the UK Güveli, Ayse; Platt, Lucinda The position of Muslims in Western societies is the subject of intense study and debate. However, remarkably little attention has been paid to the practice of European Muslims and how Muslim religiosity relates to conventional measures of social and economic integration. In this paper we draw on theories of secularization, assimilation, revitalization and integration to explore the correlates of attendance at religious meetings for Muslims of different backgrounds in the Netherlands and the UK. We conclude that patterns of religiosity and secularisation cannot be generalised across national contexts. 2011-01-18T00:00:00Z http://www.recercat.cat:80/handle/2072/152032 Ethnic and religious polarization and social conflict Esteban, Joan; Mayoral, Laura In this paper we examine the link between ethnic and religious polarization and conflict using interpersonal distances for ethnic and religious attitudes obtained from the World Values Survey. We use the Duclos et al (2004) polarization index. We measure conflict by means on an index of social unrest, as well as by the standard conflict onset or incidence based on a threshold number of deaths. Our results show that taking distances into account significantly improves the quality of the fit. Our measure of polarization outperforms the measure used by Montalvo and Reynal-Querol (2005) and the fractionalization index. We also obtain that both ethnic and religious polarization are significant in explaining conflict. The results improve when we use an indicator of social unrest as the dependent variable. 2011-01-13T00:00:00Z http://www.recercat.cat:80/handle/2072/152031 Patent policy, patent pools, and the accumulation of claims in sequential innovation Llanes, Gastón; Trento, Stefano We present a dynamic model where the accumulation of patents generates an increasing number of claims on sequential innovation. We compare innovation activity under three regimes -patents, no-patents, and patent pools- and find that none of them can reach the first best. We find that the first best can be reached through a decentralized tax-subsidy mechanism, by which innovators receive a subsidy when they innovate, and are taxed with subsequent innovations. This finding implies that optimal transfers work in the exact opposite way as traditional patents. Finally, we consider patents of finite duration and determine the optimal patent length. 2010-11-25T00:00:00Z