Mostrando recursos 1 - 20 de 178

  1. Los recursos no renovables de las provincias argentinas: consecuencias sobre el comportamiento fiscal

    Rodríguez, Nicolás Gonzalo
    Este documento analiza las finanzas subnacionales en Argentina. En particular, los efectos de los ingresos por regalías sobre los recursos no renovables de las provincias, y sus posibles efectos sobre el comportamiento fiscal de estos gobiernos. En primer lugar, se describen las principales líneas de investigación relacionadas a los recursos no renovables. Después se analizan las características económicas e implicancias fiscales de estos recursos; en particular, los efectos en términos del federalismo fiscal. Seguidamente, se expone los aspectos conceptuales referidos al comportamiento fiscal de los gobiernos. Luego, se presentan las principales estadísticas respecto a la significatividad económica y fiscal de...

  2. TWO METHODS TO GENERATE CENTERED DISTRIBUTIONS CONTROLLING SKEWNESS AND KURTOSIS COEFFICIENTS

    Treyens, Pierre-Eric
    Whatever the econometric model which we study; any simulation requires a perfectly definite DGP. Thus, even if all software can generate standard normal distributions, we need methods not programmed to control higher moments. For all these methods, we need to estimate the parameters connected to the desired values of the higher moments. Within the framework of Monte Carlo experiments, the computing times of this estimate are then not very important. Indeed, once these parameters estimated, we can re-use them and the computing time of simulations does not suffer from it. On the other hand, for a parametric bootstrap which would...

  3. Political versus Economic Institutions in the Growth Process

    Flachaire, Emmanuel; Garcìa-Peñalosa, Cecilia; Konte, Maty
    After a decade of research on the relationship between institutions and growth, scholars in this field seem to be divided. Economic institutions perform well in growth regressions and a body of literature argues that this supports the key importance of institutions for development. Other authors maintain that the type of constraints that the recent theoretical literature describes are the more stable political institutions, and these have been found to play no role in empirical growth analyses. In this paper we re-examine the role that institutions play in the growth process using cross-section and panel data for both developed and developing...

  4. Crop Insurance and Pesticides in French agriculture: an empirical analysis of multiple risks management

    Chakir, Raja; Hardelin, Julien
    This paper investigates the determinants of rapeseed hail insurance and chemical input decisions using individual panel data set of French farms covering the period from 1993 to 2004. Economic theory suggests that insurance and prevention decisions are not independent due to risk reduction and/or moral hazard eff ects. We propose a theoretical framework that integrates two statistically independent sources of risk faced by farmers of our sample hail risk and pest risk. Statistical tests confi rm that chemical and insurance demands are endogenous to each other and simultaneously determined. An econometric model involving two simultaneous equations with mixed censored/continuous dependent...

  5. Impact of Performance - B ased Contracting on Product Reliability : An Empirical Analysis

    Guajardo, Jose; Cohen, Morris. A; Netessine, Serguie
    Using a proprietary data set provided by a major manufacturer of aircraft engines, we empirically investigate how product reliability is impacted by the use of two different types of after-sales maintenance support contracts: time and material contracts (T&MC) and performance-based contracts (PBC). We offer a number of competing arguments based on the theory of incentives that establish why product reliability may increase or decrease under PBC. We build a two-stage econometric model that explicitly accounts for the endogeneity of contract choices, and find evidence of a positive and significant effect of PBC on product reliability. The estimation of our model...

  6. Structural Estimation of the Newsvendor Model: An Application to Reserving Operating Room Time

    Olivares, Marcelo; Terwiesch, Christian; Cassorla, Lydia
    The newsvendor model captures the trade-off faced by a decision maker that needs to place a firm bet prior to the occurrence of a random event. Previous research in operations management has mostly focused on deriving the decision that minimizes the expected mismatch costs. In contrast, we present two methods that estimate the unobservable cost parameters characterizing the mismatch cost function. We present a structural estimation framework that accounts for heterogeneity in the uncertainty faced by the newsvendor as well as in the cost parameters. We develop statistical methods that give consistent estimates of the model primitives, and derive their...

  7. Impact of Performance-Based Contracting on Product Reliability: An Empirical Analysis

    Guajardo, Jose A; Cohen, Morris A; Kim, Sang-Hyun; Netessine, Serguei
    Using a proprietary data set provided by a major manufacturer of aircraft engines, we empirically investigate how product reliability is impacted by the use of two different types of after-sales maintenance support contracts: time and material contracts (T&MC) and performance-based contracts (PBC). We offer a number of competing arguments based on the theory of incentives that establish why product reliability may increase or decrease under PBC. We build a two-stage econometric model that explicitly accounts for the endogeneity of contract choices, and find evidence of a positive and significant effect of PBC on product reliability. The estimation of our model...

  8. Demand and Supply Dynamics for Sequentially Released Products in International Markets: The Case of Motion Pictures

    Elberse, Anita; Eliashberg, Jehoshua
    We develop an econometric model to study a setting in which a new product is launched first in its domestic market and only at a later stage in foreign markets, and where the product's performance (“demand”) and availability (“supply”) are highly interdependent over time within and across markets. Integrating literature on international diffusion, “success-breeds-success” trends, and the theatrical motion picture industry—the focus of the empirical analysis—we develop a dynamic simultanenous-equations model of the drivers and interrelationship of the behavior of consumers (“audiences”) and retailers (“exhibitors”). Our findings emphasize the importance of considering the endogeneity and simultaneity of audience and exhibitor...

  9. Analyzing the Relationship Between Organic and Sponsored Search Advertising: Positive, Negative, or Zero Interdependence?

    Yang, Sha; Ghose, Anindya
    The phenomenon of paid search advertising has now become the most predominant form of online advertising in the marketing world. However, we have little understanding of the impact of search engine advertising on consumers' responses in the presence of organic listings of the same firms. In this paper, we model and estimate the interrelationship between organic search listings and paid search advertisements. We use a unique panel data set based on aggregate consumer response to several hundred keywords over a three-month period collected from a major nationwide retailer store chain that advertises on Google. In particular, we focus on understanding...

  10. Análisis del consumo eléctrico por comunidades autónomas a través de modelos econométricos

    BLANES ORTIZ, IGNACIO
    El alumno procederá a recapitular información acerca del consumo eléctrico en España, la cual procesará mediante herramientas estadísticas como la regresión múltiple. El objetivo es lograr un modelo a partir del cual se pueda ver que factores afectan y de que manera lo hacen.

  11. Cognitive skills and the LOGSE reform in Spain: evidence from PIAAC

    Robles-Zurita, Jose Antonio
    We use data from the Spanish sample of the Programme for the International Assessment of Adult Competencies to analyze the effect of the LOGSE (Spanish acronym for General Law of the Education System) reform passed in 1990 on numeracy and literacy proficiency of the adult population. The LOGSE effect is identified by exploiting the variability of the rate of implementation among cohorts and regions. The results change depending on the specification of the econometric model and mainly on the type of birth year trend assumed. Nonetheless, overall results suggest that the LOGSE reform did not help to increase cognitive skills...

  12. Cognitive skills and the LOGSE reform in Spain: evidence from PIAAC

    Robles-Zurita, Jose Antonio
    We use data from the Spanish sample of the Programme for the International Assessment of Adult Competencies to analyze the effect of the LOGSE (Spanish acronym for General Law of the Education System) reform passed in 1990 on numeracy and literacy proficiency of the adult population. The LOGSE effect is identified by exploiting the variability of the rate of implementation among cohorts and regions. The results change depending on the specification of the econometric model and mainly on the type of birth year trend assumed. Nonetheless, overall results suggest that the LOGSE reform did not help to increase cognitive skills...

  13. Social optimal shifts and fares of taxi services

    Salanova Grau, Josep Maria; Estrada Romeu, Miquel
    [EN] This paper presents a mathematical model for supporting the decision and policy making related to the optimal determination of shifts and fares of taxi services in a major city. The model is based on the system’s generalized cost function and uses continuous approximations and geometric probabilities for estimating the key performance indicators of the taxi market, which are waiting and access time for the customers (in-vehicle travel time does not depend on the offer side) and benefits for the drivers. The model is based on an econometric model with the inclusion of an elastic demand, which allows the estimation of the optimal values for the two...

  14. Oil price influence on spanish gas prices : fundamentals and volatility

    Cansado Bravo, Pablo
    A pesar de la rápida evolución de los mercados organizados nacionales de gas en el mundo, la contratación de gas a largo plazo sigue siendo el proceso principal de determinación de precios de referencia, al menos en Europa continental y Asia Oriental. El caso de España es un ejemplo de mercado local, donde las condiciones de suministro de gas están condicionadas por la existencia de una cantidad sustancial de contratos de largo plazo, que junto con la limitada interconexión gasista con Francia, explican en gran medida la lenta evolución hacía un mercado líquido. En este contexto, parece conveniente profundizar con...

  15. If at First You Don't Succeed: Budgeting by a Sequence of Referenda

    Ladha, Krishna; Romer, Thomas; Rosenthal, Howard
    An econometric model, based on the Romer-Rosenthal model of agenda control by budget-maximizing bureaucracies is used to analyze the budgetary and voting outcomes of referenda in a cross-section of Oregon school districts. In addition to estimates of the effects of agenda control, the model permits estimation of the spending effects of voter failure to perceive the .availability of lump-sum intergovernmental grants. Budgets are set via referenda. In the event of a failed referendum, a limited number of additional votes may be taken. The model permits estimation of the degree to which the agenda setter (e.g., the school superintendent) learns about...

  16. Is animal health management of cattle herds consistent with environmental concerns?

    LETORT, Elodie; Rault, Arnaud
    The preservation of a good animal health and the preservation of the environment are both considered as public goods, and they are at the core of livestock farming. Hence, the sustainability and the competitiveness of the livestock production sector do not only rely on economic performances, but also on its ability to reach high levels of environmental and health performances. While farm production decisions may affect at once the income, the herd health and the environmental externalities, the potential spillover effects (positive or negative) of farmers' decisions between these three pillars of sustainability are rarely addressed in the literature.The focus...

  17. Price Effects of Energy-Efficient Technologies: A Study of Residential Demand for Heating and Cooling

    Dubin, Jeffrey A.; Miedema, Allen K.; Ramachandran, V.
    This paper applies a mixed engineering and econometric model to empirically analyze behavioral interaction with new energy-efficient appliances and thermal improvements. The hypothesis is that energy efficient technologies lower the effective price of the services they provide and consequently reduce electricity consumption by smaller amounts than would be anticipated in engineering estimates. The approach incorporates prior engineering knowledge about the interactive effects of weather, appliance efficiencies, and thermal integrity of dwellings to explore treatment groups in an experiment conducted in Florida.

  18. Price Effects of Energy-Efficient Technologies: A Study of Residential Demand for Heating and Cooling

    Dubin, Jeffrey A.; Miedema, Allen K.; Ramachandran, V.
    This paper applies a mixed engineering and econometric model to empirically analyze behavioral interaction with new energy-efficient appliances and thermal improvements. The hypothesis is that energy efficient technologies lower the effective price of the services they provide and consequently reduce electricity consumption by smaller amounts than would be anticipated in engineering estimates. The approach incorporates prior engineering knowledge about the interactive effects of weather, appliance efficiencies, and thermal integrity of dwellings to explore treatment groups in an experiment conducted in Florida.

  19. The Returns to Insulation Upgrades: Results from a Mixed Engineering Econometric Model

    Dubin, Jeffrey A.; Henson, Steven E.
    This paper estimates a new model of residential electricity demand. It differs from previous work in two ways. First, we utilize individual monthly billing data in a pooled time-series/cross-section framework. Second, we use an engineering/thermal load technique to model the household apace-heating technology. This allows more precise separation of the effects of economic variables from those of weather, and permits simulation of the effects of various conservation policies. We estimate the model using data from the Pacific Northwest, and use the results to analyze three conservation measures: a price increase, a reduction in thermostat settings, and an improvement of insulation levels....

  20. Impact of Middle East emerging carriers on US and EU legacy airlines

    De Vergnes, Matthieu (Matthieu Arthur)
    Airlines in the Middle East have captured significant attention from governments, media and consumers over the past decade. By building large networks that facilitate international connections at their hubs, Middle East carriers are able to compete in a wide range of origin destination markets around the globe. Three of these carriers stand out with their recent expansion to European, US and Asian destinations: Emirates, Etihad Airways and Qatar Airways, also known as the ME3 carriers. From a capacity perspective, ME3 airlines have grown very rapidly on routes where they compete with US and European airlines. Over the 2010-2015 period, from...

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