Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 54
Title: Composition of Greenhouse Gas Emissions in Spain: an Input-Output Analysis
Author-Name: Butnar, Isabela 
Author-Name: Llop Llop, Maria 
Abstract:
 Extending the traditional input-output model to account for the
 environmental impacts of production processes reveals the channels by
 which environmental burdens are transmitted throughout the economy. In
 particular, the environmental input-output approach is a useful technique
 for quantifying the changes in the levels of greenhouse emissions caused
 by changes in the final demand for production activities. The inputoutput
 model can also be used to determine the changes in the relative
 composition of greenhouse gas emissions due to exogenous inflows. In this
 paper we describe a method for evaluating how the exogenous changes in
 sectorial demand, such as changes in private consumption, public
 consumption, investment and exports, affect the relative contribution of
 the six major greenhouse gases regulated by the Kyoto Protocol to total
 greenhouse emissions. The empirical application is for Spain, and the
 economic and environmental data are for the year 2000. Our results show
 that there are significant differences in the effects of different sectors
 on the composition of greenhouse emissions. Therefore, the final impact on
 the relative contribution of pollutants will basically depend on the
 activity that receives the exogenous shock in final demand, because there
 are considerable differences in the way, and the extent to which,
 individual activities affect the relative composition of greenhouse gas
 emissions.
Keywords: Efecte d'hivernacle, Gasos d', Emissions atmosfèriques, Anàlisi d'entrada/sortida, Consum (Economia), Inversions, Exportacions, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/54 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:54 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 55
Title: Ecological and Economic Impacts within the Environmental Input-Output Framework
Author-Name: Llop Llop, Maria 
Abstract:
 The environmental input-output approach reveals the channels through which
 the environmental burdens of production activities are transmitted
 throughout the economy. This paper uses the input-output framework and
 analyses the changes in Spanish emission multipliers during the period
 1995-2000. By decomposing the global changes in multipliers into different
 components, it is possible to evaluate separately the economic and
 ecological impacts captured by the environmental input-output model.
 Specifically, in this study we distinguish between the effects on
 multipliers caused by changes in emission coefficients (the ecological
 impacts) and the effects on multipliers caused by changes in technical
 coefficients (the economic impacts). Our results show a significant
 improvement in the ecological impacts of production activities, which
 contributed negatively to changes in emission multipliers. They also show
 a deterioration in the economic impacts, which contributed positively to
 changes in emission multipliers. Together, these two effects lead to a
 small reduction in global multipliers during the period of analysis. Our
 results also show significant differences in the individual behaviour of
 different sectors in terms of their contribution to multiplier changes.
 Since there are considerable differences in the way individual sectors
 affect the changes in emission levels, and in the intensity of these
 effects, this means that the final effects will basically depend on the
 activity considered.
Keywords: Anàlisi d'entrada/sortida, Emissions atmosfèriques, Impacte ambiental, Impacte econòmic, Multiplicador (Economia), 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/55 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:55 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 56
Title: Security prices and market transparency: the role of prior information
Author-Name: Frutos Casado, M. Ángeles de 
Abstract:
 This paper analyzes the role of traders€٠priors (proper versus improper)
 on the implications of market transparency by comparing a pre-trade
 transparent market with an opaque market in a set-up based on Madhavan
 (1996). We show that prices may be more informative in the opaque market,
 regardless of how priors are modelled. In contrast, the comparison of
 market liquidity and volatility in the two market structures are affected
 by prior specification.
Keywords: Mercat de capitals, Informació privilegiada, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/56 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:56 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 57
Title: A note on Spatial Autocorrelation at a Local Level
Author-Name: Arauzo Carod, Josep Maria 
Abstract:
 In this paper we analyze the existence of spatial autocorrelation at a
 local level in Catalonia using variables such as urbanisation economies,
 population density, human capital and firm entries. From a static
 approach, our results show that spatial autocorrelation is weak and
 diminishes as the distance between municipalities increases. From a
 dynamic approach, however, spatial autocorrelation increased over the
 period we analysed. These results are important from a policy point of
 view, since it is essential to know how economic activities are spatially
 concentrated or disseminated.
Keywords: Autocorrelació (Estadística), Anàlisi espacial (Estadística), Municipis, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/57 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:57 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 58
Title: A Rembrandt is a Rembrandt
Author-Name: Corbella Domènech, Teresa 
Author-Name: Oliva, Martí 
Abstract:
 As paintings are assets, we propose to model a painting€ٳ price dynamics
 as a diffusion process, i.e., as the financial literature models share
 prices, but correcting by size. We show that the influence of size on the
 artwork price diminishes as the paintings gets older because 1) prices
 incorporate progressively more noise and 2) for high quality artists, the
 relative importance of size on price decreases as the artist consolidates
 and authorship gains importance as explanatory variable. Our theoretical
 results are consistent with data from a sample of 19th- and 20th-century
 Catalan painters of similar quality. These findings suggest that an
 artist€ٳ quality and antiquity should be taken into account in order to
 obtain more efficient estimates of parameters in hedonic art market
 models.
Keywords: Mercat de l'art, Pintura, Preus, Models matemàtics, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/58 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:58 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 59
Title: External sources of innovation and industry-university interaction:evidence from Spanish firms
Author-Name: Segarra Blasco, Agustí 
Author-Name: Arauzo Carod, Josep Maria 
Abstract:
 This paper is about the firm innovation process and the cooperation of the
 innovative firms with other firms and public institutions. A special
 attention is paid to the cooperation with universities. We use the
 Technological Innovation Survey (TIS) from the Instituto Nacional de
 Estadística (Spain) in order to obtain data for 4,159 innovative firms.
 Our results show that firm's cooperation activities are closely linked to
 the characteristics of the industry and the firm as well as to the origin
 of public funds for R&D activities.
Keywords: Innovació, Universitats, Espanya, Economia, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/59 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:59 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 60
Title: Firm Size and Short-Term Dynamics in Aggregate Entry and Exit
Author-Name: Manjón Antolín, Miguel C. 
Abstract:
 Much of the research on industry dynamics focuses on the interdependence
 between the sectorial rates of entry and exit. This paper argues that the
 size of firms and the reaction-adjustment period are important conditions
 missed in this literature. I illustrate the effects of this omission using
 data from the Spanish manufacturing industries between 1994 and 2001.
 Estimates from systems of equations models provide evidence of a conical
 revolving door phenomenon and of partial adjustments in the
 replacement-displacement of large firms.
Keywords: Agregació (Estadística), Espanya, Indústries, Anàlisi de dades de panel, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/60 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:60 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 61
Title: A territorial approach to firm entry: The effect of city size
Author-Name: Arauzo Carod, Josep Maria 
Author-Name: Teruel Carrizosa, Mercedes 
Abstract:
 This paper concerns the effects of territorial factors on the processes
 involved in the creation of manufacturing firms in Spanish cities. Most
 contributions have focused on regional factors rather than urban ones.
 Here we assume that it is possible to identify certain urban factors that
 attract new firms. We use data for the entry of firms in Spanish
 manufacturing industries between 1994 and 2002. This paper contributes to
 the existing literature on market entry.
Keywords: Ciutats, Regions, Espanya -- Condicions econòmiques, Empreses, Localització industrial, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/61 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:61 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 62
Title: Delegation and information sharing in oligopoly
Author-Name: Theilen, Bernd 
Abstract:
 Information sharing in oligopoly has been analyzed by assuming that firms
 behave as a sole economic agent. In this paper I assume that ownership and
 management are separated. Managers are allowed to falsely report their
 costs to owners and rivals. Under such circumstances, if owners want to
 achieve information sharing they must use managerial contracts that
 implement truthful cost reporting by managers as a dominant strategy. I
 show that, contrary to the classical result, without the inclusion of
 message-dependent payments in managerial contracts there will be no
 information sharing. On the other hand, with the inclusion of such
 publicly observable payments and credible ex-ante commitment by owners not
 to modify these payments, there will be perfect information sharing
 without the need for third parties.
Keywords: Oligopolis, Models economètrics, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/62 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:62 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 63
Title: The Determinants of Entry are not Independent of Start-up Size: Some evidence from Spanish manufacturing
Author-Name: Arauzo Carod, Josep Maria 
Author-Name: Segarra Blasco, Agustí 
Abstract:
 In this paper we explore the determinants of firm start-up size of Spanish
 manufacturing industries. The industries' barriers to entry affect the
 ability of potential entrants to enter the markets and the size range at
 which they decide to enter. In order to examine the relationships between
 barriers to entry and size we applied the quantile regression techniques.
 Our results indicate that the variables that characterize the structure of
 the market, the variables that are related to the behaviour of the
 incumbent firms and the rate of growth of the industries generate
 different barriers depending on the initial size of the entrants.
Keywords: Empreses-Creació, Empreses-Dimensió, Barreres per a entrar en un mercat, Anàlisi de regressió, Espanya, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/63 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:63 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 64
Title: Should fiscal authorities cooperate in a monetary union with public deficit targets?
Author-Name: Ferré Carracedo, Montserrat 
Abstract:
 In this paper we analyse the setting of optimal policies in a monetary
 union with one monetary authority and various fiscal authorities that have
 a public deficit target. We will show that fiscal cooperation among the
 fiscal authorities, in the presence of positive supply shocks, ends up
 producing higher public deficits than in a non-cooperative regime.
Keywords: Integració monetària, Política fiscal, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/64 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:64 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 65
Title: Trade disclosure and price dispersion
Author-Name: Frutos Casado, M. Ángeles de 
Author-Name: Manzano Tovar, Carolina 
Abstract:
 This paper determines the effects of post-trade opaqueness on market
 performance. We find that the degree of market transparency has important
 effects on market equilibria. In particular, we show that dealers
 operating in a transparent structure set regret-free prices at each period
 making zero expected profits in each of the two trading rounds, whereas in
 the opaque market dealers invest in acquiring information at the beginning
 of the trading day. Moreover, we obtain that if there is no trading
 activity in the first period, then market makers only change their quotes
 in the opaque market. Additionally, we show that trade disclosure
 increases the informational efficiency of transaction prices and reduces
 volatility. Finally, concerning welfare of market participants, we obtain
 ambiguous results.
Keywords: Mercat-Anàlisi, Preus, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/65 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:65 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 66
Title: Firm Size and Geographical Aggregation: An Empirical Appraisal in Industrial Location
Author-Name: Arauzo Carod, Josep Maria 
Author-Name: Manjón Antolín, Miguel C. 
Abstract:
 This paper assesses empirically the importance of size discrimination and
 disaggregate data for deciding where to locate a start-up concern. We
 compare three econometric specifications using Catalan data: a multinomial
 logit with 4 and 41 alternatives (provinces and comarques, respectively)
 in which firm size is the main covariate; a conditional logit with 4 and
 41 alternatives including attributes of the sites as well as size-site
 interactions; and a Poisson model on the comarques and the full spatial
 choice set (942 municipalities) with site-specific variables. Our results
 suggest that if these two issues are ignored, conclusions may be
 misleading. We provide evidence that large and small firms behave
 differently and conclude that Catalan firms tend to choose between
 comarques rather than between municipalities. Moreover, labour-intensive
 firms seem more likely to be located in the city of Barcelona.
Keywords: Localització industrial, Models economètrics, Catalunya, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/66 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:66 

Template-Type: ReDIF-Paper 1.0
Series: 123456789
Number: 67
Title: Entradas y salidas de empresas: un contraste de las hipótesis de independencia, simetría y simultaneidad
Author-Name: Arauzo Carod, Josep Maria 
Author-Name: Manjón Antolín, Miguel C. 
Author-Name: Martín Bofarull, Mònica 
Author-Name: Segarra Blasco, Agustí 
Abstract:
 En este trabajo se analiza una vía alternativa en el debate de la
 convergencia regional en España: el estudio de la dinámica industrial de
 sus Comunidades Autónomas. Para ello se analizan los flujos de entrada y
 salida de establecimientos industriales en las manufacturas delas regiones
 españolas y se abordan los factores de carácter sectorial o regional que
 inciden sobre la movilidad industrial. Las specificaciones econométricas
 adoptan la estructura de un sistema de ecuaciones y cubren las tres
 hipótesis fundamentales que se han abordado en la literatura
 (independencia, simetría y simultaneidad) a partir de un panel de datos
 construido con informaciones procedentes del Registro de Establecimientos
 Industriales y la Encuesta Industrial.      e
Keywords: Indústries, Localització industrial, Equacions, Anàlisi de dades de panel, Espanya, Comunitats autònomes, 
Creation-Date: 2006-06-27
File-URL: http://teledoc.urv.es:8080/dspace/handle/123456789/67 
File-Format: application/pdf 
Handle: RePEc:urv:wpaper:67