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In this paper, we analyze the interrelation between technological, institutional, and geographical peripheries. By distinguishing between the quality and quantity of access to information and communication technologies, together with institutional and geographical factors, and using a sample of 229 European regions during the period 2007-2018, we find that the diffusion and quality of information and communication technologies foster economic development and decrease the risk of social exclusion. A similar effect is found for institutional and geographical factors, suggesting that the interplay of these three determinants may be crucial to set up place-based policies.The online version contains supplementary material available at 10.1007/s00168-022-01127-9.

The COVID-19 pandemic has been a chance and a boost for those retailers that develop their online profile. This new context can raise privacy issues on the consumer side. For this reason, here we explore the determinants of online self-disclosure, and its relationship with customer care. We collected the data through an online survey (n = 426) and tested a variance-based structural equations model. The findings unriddle the role of perceived customer care as an antecedent of both perceived control and trust, the latter emerging as a key mediator of the impact of both perceived customer care and privacy concern on self-disclosure. Moreover, in line with previous studies, perceived control was found to be positively related with trust, and negatively with privacy concerns. According to the findings, we draw several managerial implications and suggest future research paths., Spanish Ministry of Sciences and Innovation under the grant PID 2021-125155NB-100

Ambitious goals to combat pollution should be supported in policies that discourage the use of private cars, notably old and more polluting vehicles. Price signals, such as a congestion tax, and traffic restrictions, such as low-emission zones (LEZ), are widely used tools among European cities to limit car use. In this paper, we look at the dissuasive effect of the implementation of the Madrid Central LEZ and analyze how traffic intensity has been affected in both the restricted area and in other zones of the city. Although the ultimate policy goal of LEZ is to reduce pollution, the instrument considered is traffic limitations, so it is important to know whether or not traffic intensity has been affected by traffic restrictions. Despite its limited extension and the adoption of long transitional periods, the LEZ of Madrid has been seriously questioned from its inception. The results show that traffic intensity has been reduced in the Madrid Central zone but has unfortunately increased in bordering areas. Previous studies on the effects of Madrid Central have not taken into account this potential substitution effect. The future design of a mobility policy in the metropolitan area of Madrid should address this undesirable outcome, Open Access funding provided thanks to the CRUE-CSIC agreement with Springer Nature. This work was partially supported by the Comunidad de Madrid (INNJOBMAD-HUM-5761)

We make the case for a technology-enabled approach to Smart Specialisation policy making in order to foster its effectiveness by proposing a novel type of economic impact assessment. We use the RHOMOLO model to gauge empirically the general equilibrium effects implied by the Smart Specialisation logic of intervention as foreseen by the policy makers designing and implementing the European Cohesion policy. More specifically, we simulate the macroeconomic effects of achieving the R&D personnel targets planned by a set of Southern European regions. We discuss the implications of the proposed methodology for future assessments of Smart Specialisation.

This work was supported by the Spanish Ministry of Economics, Industry and Competitiveness under the grant ECO2017-82449-P., Supplemental data for this article is available online at https://doi.org/10.1080/1331677X.2021.1902364, The current environment is highly dynamic and undergoing continuous change, and the recent outbreak of the COVID-19 pandemic has shown how firms and governments need to act promptly to face unexpected threats. In this regard, location-based applications have been implemented successfully in China and South Korea, but in some Western countries, serious privacy issues have been raised. With these premises in mind, this paper has the aim of examining the factors that motivate or discourage users to adopt mobile applications able to trace location. The proposed model is based on the combination of the Protection Motivation Theory, the Theory of Planned Behavior, and the Technology Acceptance Model. A variance-based Structural Equations Modeling approach has been used to test the conceptual model using Partial Least Squares (PLS). The findings show that perceived usefulness positively influences attitude. In addition, subjective norms and self-efficacy were found to be the key drivers of the intention to adopt location-based applications, whilst perceived severity emerged as an important barrier. Finally, this study provides empirical evidence for the positive and significant relationship between the intention to use this type of apps and actual behavior. Academic and managerial implications are drawn and future research directions are suggested., Spanish Ministry of Economics, Industry and Competitiveness ECO2017-82449-P

El objetivo de este artículo es establecer un marco analítico riguroso que permita determinar la dimensión e importancia económica de la industria de la cultura y el ocio, con el fin de situarla en el lugar prominente que ha alcanzado como sector estratégico en la estructura productiva de España. Se pretende evaluar la contribución que esta industria realiza a la riqueza nacional, destacando su creciente relevancia en términos de PIBpm y empleo, así como profundizar en estos agregados desde una triple vertiente: nacional, regional y sectorial. Los resultados de este artículo muestran que en 2003 la industria representa un 3,9% del PIBpm y un 7,8% del empleo. Se observa una alta concentración de la industria tanto desde el punto de vista regional como sectorial., The goal of this article is to offer a rigorous analytical framework to determine the economic dimension of the culture and leisure industry in Spain, in order to highlight its relevance as a strategic sector in the Spanish structure of production. We estimate the contribution of this industry to the national welfare, emphasizing its growing contribution to GDPmp and employment, detailing the results from the national, regional and sectoral perspectives. Our results show that the industry represents 3.9% of GDPmp and a 7.8% of employment. The results show that the industry is also highly concentrated in its regional and sectoral dimensions.

Trabajo Fin de Grado. Curso Académico 2021-2022. Grado en Filosofía, Política y Economía

Trabajo Fin de Grado. Curso Académico 2021-2022. Grado en Economía

Background: Previous studies found that individuals who harbor hostile attitudes toward immigrants & refugees tend to vote for far right nationalist parties, and that the same individuals also tend to report worse health status. We sought to test these associations using the latest data from 21 EU countries, and also whether the associations were moderated by the share of unemployed people in each region and individuals’ labor situation. Methods: We analyzed the second release of the 2016 European Social Survey which includes different questions about attitudes toward immigrants and refugees, as well as a rich variety of socioeconomic variables. Multilevel Poisson regression models were developed, regressing fair/poor health on attitudes towards immigrants & refugees. Results: For each one point increase in favorable attitudes toward immigrants, the prevalence of fair/poor health was reduced by 2 percentage points (PR = 0.98; 95%CI: 0.96–0.99). In analyses incorporating cross-level interactions, the association was not moderated by high background unemployment rates or individual labor market attachment. Conclusion: Positive attitudes toward immigrants are correlated with lower prevalence of fair/poor health in general, regardless of individuals’ labor situation and the objective economic situation. Fostering empathy toward immigrants and refugees may thus promote a healthier society, especially among more prejudiced individuals

In many countries, labor courts play a central role in the determination of firing costs by monitoring and supervising the procedures for dismissals, and, eventually, deciding severance payments mandated by the employment protection legislation (EPL). To get some insights about the impact of labor courts on effective firing costs, we explore a new database that contains information on labor courts’ intervention in firings before and after the implementation of significant EPL reforms modifying severance payments and procedures for dismissals. Our results suggest that labor court rulings on economic dismissals did not fully translate the reduction of firing costs mandated by the new EPL to effective firing costs.

In a Diamond–Dybvig type model of financial intermediation, we allow depositors to announce at a positive cost to subsequent depositors that they keep their funds deposited in the bank. Theoretically, the mere availability of public announcements (and not its use) ensures that no bank run is the unique equilibrium outcome. Multiple equilibria—including bank run—exist without such public announcements. We test the theoretical results in the lab and find a widespread use of announcements, which we interpret as an attempt to coordinate on the no bank run outcome. Withdrawal rates in general are lower in information sets that contain announcements.

The conventional dynamic cost inefficiency model relies on the directional distance function with an exogenous directional vector to measure technical and allocative inefficiency. However, this approach may lead to contradictory recommendations for firms to become technically and allocatively efficient. By definition, the conventional model forces firms to reduce their inputs and increase their investments in order to become technically efficient; for some firms this is followed by the reverse recommendation to become allocatively efficient. This paper proposes a model that endogenizes the directional vector to solve for the cost minimizing combination of inputs and investments. In contrast to the conventional model with an exogenous directional vector, our model provides managers with monotonic prescriptions. We illustrate the superiority of the endogenous directional vector model over its conventional counterpart using a dataset of EU firms in the dietetic food industry. The differences in the managerial prescriptions are striking, with the conventional model wrongly recommending reductions in inputs that are underused with respect to their optimal amounts minimizing cost, Assoc. Prof. Magdalena Kapelko acknowledges financial support by the National Science center in Poland (grant no. 2016/23/B/HS4/03398) and by the Ministry of Science and Higher Education in Poland under the programme “Regional Initiative of Excellence” program 20192022, project number 015/RID/2018/19 total funding amount 10 1159 721 040.00 PLN

This article analyses the integration of economic history into economics using a unique dataset containing 11,143 articles written by 919 economic historians and published between 1980 and 2019 in leading journals; we also analyzed the authors’ biographical information. Using a probit regression, we find that since 1980, economic historians have increased their likelihood of publishing in Economics or Finance Journals (EFJs) by 12 points. This integration is more marked in North America than in Europe because North American economic historians are more likely to be trained in the discipline of economics. In contrast, a significant share of scholars in Europe are trained in the discipline of economic history. Network visualizations confirm these regional differences: citations to EFJs are much more central in North American scholars’ work. Our findings support Robert Margo’s claim that economic history is currently integrated into economics more often in publications in North America than in Europe., Open Access funding provided thanks to the CRUE-CSIC agreement with Springer Nature

Using individual data from PIAAC and data on youth unemployment for 18 countries, we test how macroeconomic conditions experienced at age eighteen affect the following decisions in post-secondary and tertiary education: (i) enrollment (ii) dropping-out, (iii) type of degree completed, (iv) area of specialization, and (v) time-to-degree. We also analyze how the effects vary by gender and parental background. Our findings differ across geographies (Anglo-Saxon, Southern European, Western European, and Scandinavian countries), which shows that the impacts of macroeconomic conditions on higher education decisions depend on context, such as labor markets and education systems. By analyzing various components of higher education together, we are able to obtain a clearer picture of how during economic downturns potential mechanisms interact to determine higher education decisions, Financial support from the Spanish Ministry of Science and Innovation (Grants: ECO2017-82882-R and PID2020-112739GA-I00)

Using a regression discontinuity design and primary elections to select Spanish Socialist Party (PSOE) mayoral candidates as a case study, this paper investigates the causal link between primary elections and electoral outcomes. The results suggest that selecting the PSOE’s mayoral candidate through primary elections has no effect on the percentage of votes and total votes received by the PSOE’s candidate in local elections, the probability of gaining the mayorship and the local government’s stability. On the other hand, the results suggest that PSOE’s primary elections result in increased votes for competing political parties to the right of the PSOE and in reduced votes for competing parties to the left of the PSOE.

This study assesses the causal effect of child marriage on infant mortality. Using age discontinuities in exposure to a law that raised the legal age of marriage for women in Ethiopia, the study estimates that a 1-year delay in a woman’s age at cohabitation during her teenage years reduces the probability of her first-born child dying during infancy by 3.8 percentage points. This impact is closely linked to the effect of delaying cohabitation on women’s age at first birth, The research that led to this paper was funded by an ESRC-DTC scholarship and by the European Research Council starting grant 336475 (COSTPOST) to Mikko Myrskyla

Cross-efficiency measurement is an extension of Data Envelopment Analysis that allows for tie-breaking ranking of the Decision Making Units (DMUs) using all the peer evaluations. In this article we examine the theory of cross-efficiency measurement by comparing a selection of methods popular in the literature. These methods are applied to performance measurement of European warehouses. We develop a cross-efficiency method based on a rank-order DEA model to accommodate the ordinal nature of some key variables characterizing warehouse performance. This is one of the first comparisons of methods on a real-life dataset and the first time that a model allowing for qualitative variables is included in such a comparison. Our results show that the choice of model matters, as one obtains statistically different rankings from each one of them. This holds in particular for the multiplicative and game-theoretic methods whose results diverge from the classic method. From a managerial perspective, focused on the applicability of the methods, we evaluate them through a multidimensional metric which considers their capability to rank DMUs, their ease of implementation, and their robustness to sensitivity analyses. We conclude that standard weight-restriction methods, as initiated by Sexton et al. [48], perform as well as recently introduced, more sophisticated alternatives, Spanish Ministry of Science and Innovation (Ministerio de Ciencia e Innovación), the State Research Agency (Agencia Estatal de Investigación) and the European Regional Development Fund (Fondo Europeo de Desarrollo Regional) under grants EIN2020-112260

This paper examines the propagation of COVID-19 across the Spanish provinces and assesses the effectiveness of the Spanish lockdown of the population implemented on March 14, 2020 in order to battle this pandemic. To achieve these objectives, a standard spatial econometric model used in economics is adapted to resemble the popular reproduction models employed in the epidemiological literature. In addition, we introduce a counterfactual exercise that allows us to examine the Gross domestic product (GDP) gains of bringing forward the date of the Spanish Lockdown. We find that the number of COVID-19 cases would have been reduced by 70.4% in the absence of spatial propagation between the Spanish provinces. We also determine that the lockdown prevented the propagation of the virus within and between provinces. As such, the Spanish lockdown reduced the number of potential COVID-19 cases by 82.8%. However, the number of coronavirus cases would have been reduced by an additional 11.6% if the lockdown had been brought forward to March 7, 2020. Finally, an earlier lockdown would have saved approximately 26,900,000,000 euros, Ministerio de Ciencia, Innovación y Universidades, Grant/Award Number: PRX19/00596, PRX19/00589 INNJOBMAD-CM, Grant/Award Number: H2019/HUM-5761 Ministry of Science and Innovation, Grant/Award Number: PID2020-113076GB-I00

We contribute to the literature on the assessment of innovation systems by relating the amount of inputs available to the system and its performance through the concept of returns to scale (increasing, constant or decreasing). We study to what extent the size or scale of innovation systems relates to their performance, which is estimated through frontier Data Envelopment Analysis-TOPSIS methods, which overcome several limitations of the standard DEA approach. Using the same data provided by the European Innovation Scoreboard (EIS) for years 2010, 2013 and 2016, our results indicate that countries with a high innovation scale tend to overinvest in innovation inputs. This results into scale inefficiencies stemming from decreasing returns, leading to lower productivity levels. Thanks to DEA-TOPSIS we identify the best and worst performing innovation systems. This provides helpful information by setting suitable reference benchmarks for policy analysis and decision-making. Our results question the current allocation of resources and call for a reconsideration of how innovation policies are designed in many European countries. We conclude that for the EIS to become a useful instrument for the definition of innovation policies, it should consider the nature of returns to scale. This would allow policymakers to identify problems and limitations related to the size of their respective innovation systems, and hence, design holistic innovation policies to act upon them, The authors acknowledge financial support from the Comunidad de Madrid Government, under grant H2019/HUM-5761 (INNJOBMAD-CM). Prof. Jos´e L. Zofío acknowledges financial support from the Spanish Ministry of Science and Innovation and the State Research Agency under grants EIN 2020- 112260/AEI/10.13039/501100011033 and PID2019-105952GB-I00/ AEI/10.13039/501100011033. Assoc. Prof. Jon Mikel Zabala- Iturriagagoitia acknowledges financial support from the Basque Government, Department of Education, Language Policy and Culture, under grant IT 885–16

During the confinement due to the Covid-19 crisis, economies survived thanks to the available technology and changes of the production model. To study the vulnerability of economies against the challenges of the recovery, in this paper we study the role of some factors related to the development of productive sectors, the use of technology, and the structure of public finances. Using panel data estimations for the European Union, we identify some characteristics that would help economies to boost economic growth. We find that the employment in sectors with a high technological content is the variable that most drives output growth

La COVID-19 ha cambiado la docencia universitaria en los últimos dos cursos. Además de una serie de retos, también ha traído otras oportunidades para la mejora de la enseñanza universitaria. Entre estas oportunidades está el uso más intensivo de herramientas digitales para la docencia a distancia. Este trabajo presenta la experiencia docente desarrollada en asignaturas de Microeconomía, en los Grados de Economía, Administración de Empresas y Economía y Finanzas de la Universidad Autónoma de Madrid, tanto en castellano como en inglés, aunque se puede generalizar a cualquiera otra área de la Economía y la Empresa. La propuesta tiene como objetivo trasladar metodologías presenciales al ámbito online. Para ello se han introducido actividades de escape room, adaptando dichas técnicas al entorno de la docencia a distancia o híbrida mediante sesiones de BreakOut educativos digitales. Aunque la experiencia descrita se ha desarrollado al final del curso, las herramientas descritas tienen la flexibilidad de poder usarse en otros momentos temporales del curso según los objetivos docentes de cada profesor. Las modificaciones introducidas permiten a los estudiantes, como se verá en este trabajo, adquirir y asentar los conocimientos centrales de su aprendizaje, así como obtener una serie de competencias transversales que les serán de utilidad en su futuro profesional, tales como el trabajo colaborativo, la imaginación y la creatividad, el razonamiento y análisis crítico, la resolución de problemas prácticos, o el uso de nuevas tecnologías. La experiencia demuestra que los estudiantes mejoran la motivación por las asignaturas, pero también se observa una mejora de sus resultados académicos, así como de la calidad, percibida por los estudiantes, de la docencia de los profesores y la valoración de la utilidad de este tipo de actividades por encima del resto de las implementadas, incluidas otras técnicas de gamificación, entre otros resultados obtenidos.

We render operational the model outlined by Carter (1990) via the introduction of the research methods necessary for studying the spatial and sectoral (upstream and downstream) benefits of productivity-enhancing innovations within a real interregional input–output framework. As case study we examine the reduction in production costs derived from the adoption of longer and heavier vehicles in freight road transportation. We exploit a new Spanish regional table including a detailed disaggregation of the transportation sector. The productivity gains at the national level, resulting from a 30% reduction in transport costs, amount to 2.95% of the GVA at market prices. Results show that firms operating in this niche market appropriate most of the gross operation surplus (which increases by 10%), consistent with the existence of market power. The remaining transportation sectors see profits slightly worsened, suggesting limited substitution effects. A high regional heterogeneity exists because of the different input–output structures, This work was supported by Ministerio de Fomento, Spain: [Grant Number P42-08]

Trabajo Fin de Grado. Curso Académico 2020-2021. Grado en Economía y Finanzas

Trabajo Fin de Grado. Curso Académico 2020-2021. Doble Grado en Derecho y Administración y Dirección de Empresas

In this paper, we try to analyse the extent to which a redefinition of the monetary policy rule would help to avoid the zero-lower bound, as well as to explore the conditions needed to avoid that constraint. To that aim, we estimate the threshold values of the key variables of the policy rule: the inflation gap and the output gap. The threshold model allows us to know which are the turning points from which the relationship between the key variables and the interest rate revert. In the Eurozone countries, we have found that the inflation gap always contributes to increasing the nominal interest rate. On the contrary, the output gap works differently when it reaches values above or below the threshold value, which would favour the reduction of the interest rates towards the zero level, Spanish Ministry of Economy, Industry and Competitiveness through the project ECO2015-65826-P

Trabajo Fin de Grado. Curso Académico 2020-2021. Grado en Economía y Finanzas

Trabajo Fin de Grado. Curso Académico 2020-2021. Doble Grado en Derecho y Administración y Dirección de Empresas

Dentro de la UE, la crisis de 2008 provocó importantes cambios laborales en materia de género. Una de las pautas más importantes y llamativas ha sido la existencia de una disminución en la segregación laboral. En el presente artículo abordamos el estudio de la segregación ocupacional y sectorial por género en una selección de países de la UE utilizando los datos trimestrales de la Labour Force Survey (LFS) desde el año 2008 a 2015. A través de múltiples análisis, nuestros resultados demuestran que la segregación laboral logra reducirse principalmente por la destrucción de empleo dentro de la construcción y la industria, sectores de elevada contratación masculina. Por lo cual la segregación seguiría un proceso de “levelling down”. Asimismo, también se ha producido un importante efecto del “Trabajador añadido” entre las mujeres que ha compensado parcialmente la caída de la segregación. Finalmente, el perfil de la segregación no parece modificarse durante este periodo

Trabajo Fin de Grado. Curso Académico 2020-2021. Grado en Economía

Background Hostility toward others is related to negative emotions, which is hypothesized to have negative health consequences. In this article, we sought to test the relationship between individuals’ attitudes toward immigrants and their self-rated health (SRH) across time in large dataset of 15 European countries. Methods We used the 2010, 2012, 2014 and 2016 waves of the European Social Survey, which include information about attitudes toward immigrants and individuals’ SRH. Results Combining all countries and survey years, we found an association between negative attitudes toward immigrants and fair/poor SRH. However, when analyzing the relationship within each country, we found variations (depending on the year of the survey) in some countries, such as Hungary, Poland, Portugal, Sweden and Slovenia. Additionally, we found that there are more middle class individuals who hold unfavorable attitudes toward immigrants over time. Conclusions In general, poor attitudes toward immigrants are associated with higher odds of reporting fair/poor health, although the ‘health advantage’ of those with favorable attitudes is diminishing over time. However, in some countries, this relationship is contingent on when the survey was conducted, possibly reflecting the changing composition of individuals who hold unfavorable attitudes toward immigrants.

This paper introduces a series of new concepts under the name of Economic Cross-Efficiency, which is rendered operational through Data Envelopment Analysis (DEA) techniques. To achieve this goal, from a theoretical perspective, we connect two key topics in the efficiency literature that have been unrelated until now: economic efficiency and cross-efficiency. In particular, it is shown that, under input (output) homotheticity, the traditional bilateral notion of input (output) cross-efficiency for unit l, when the weights of an alternative counterpart k are used in the evaluation, coincides with the well-known Farrell notion of cost (revenue) efficiency for evaluated unit l when the weights of k are used as market prices. This motivates the introduction of the concept of Farrell Cross-Efficiency (FCE) based upon Farrell's notion of cost (revenue) efficiency. One advantage of the FCE is that it is well defined under Variable Returns to Scale (VRS), yielding scores between zero and one in a natural way, and thereby improving upon its standard cross-efficiency counterpart. To complete the analysis we extend the FCE to the notion of Nerlovian cross-inefficiency (NCI), based on the dual relationship between profit inefficiency and the directional distance function. Finally, we illustrate the new models with a recently compiled dataset of European warehouses, Spanish Ministry for Science and Innovation and the State Research Agency under grants PID2019-105952GB-I00/AEI/10.13039/501100011033 and EIN2020-112260/AEI/10.13039/501100011033

Este artículo analiza el papel de la Unión Europea (UE) en la geopolítica global tras la pandemia del nuevo coronavirus. Parte de la premisa de que la pandemia acelera la crisis del multilateralismo y la rivalidad entre grandes potencias, lo que deja a la UE en una posición incómoda. Tras exponer cómo y por qué el sistema internacional ha pasado de la cooperación institucionalizada a la rivalidad geoestratégica, se analizan las bazas con las que cuenta la UE en las distintas estructuras del poder internacional para desarrollar autonomía estratégica en materia económica, tecnológica y de seguridad y defensa, con especial atención a cómo debe relacionarse con Estados Unidos y China, This article discusses the role of the European Union (EU) in global geopolitics following the pandemic of the new coronavirus. It argues that the pandemic accelerates the crisis of multilateralism and the rivalry between great powers, leaving the EU in an uncomfortable position. It first explains how and why the international system has moved from institutionalized cooperation to geostrategic rivalry. Then, it focuses on the EU’s strengths in the various structures of international power and on its chances for developing strategic autonomy in economic, technological and security and defence matters. Finally, it explains how the EU should deal with the United States and China.

The evaluation of the Single European Market requires a better knowledge of the level of integration both between and within the EU countries. While some institutions are pushing for greater integration between EU countries, others may be introducing—purposely or collaterally—additional barriers to interaction. Several reports have reported the high levels of market fragmentation prevailing within Spain. This paper aims to determine whether regional borders influenced the patterns of intra- and interregional trade between the 18 regions of Spain (Nuts 2) over a long period of time (1995–2017). While trade is more intense within regions than between them, our results suggest the presence of spatial and temporal heterogeneity in the estimated home bias. We also investigate empirically the effect that the quantity and quality of national, regional and local regulations have on the economic performance of firms, in both the industrial and the service sectors. We use different non-spatial and spatial-gravity models, which yield robust results, Funding was provided by Secretaría de Estado de Investigación, Desarrollo e Innovación (Grant No. ECO2016-79650-P).We also want to aknowledge Richard Sellner and James LeSage for their generouse contribution sharing the required code for certain specifications

Este artículo repasa los objetivos y posibles puntos de interacción entre la política monetaria y la política macroprudencial. También revisa los desarrollos más recientes respecto al debate sobre la idoneidad o no de coordinar ambas políticas. El trabajo concluye con una visión de los principales retos que deben afrontar estas dos políticas dadas las condiciones macroeconómicas actuales.

In this paper, we examine whether innovation and information and communication technology (ICT) contribute to reducing producer prices, thus promoting economic growth. We also check whether the contributions of ICT enhance environmental quality, leading to sustainable economic growth. To this end, we apply panel data techniques to the 27 EU countries over the period of recovery from the financial crisis. Our results suggest that technological progress leads to a significant reduction in producer prices. Moreover, controlling for some macroeconomics factors, ICT fosters per capita economic growth in the European countries. Finally, we found that the higher the ICT employment is, the lower greenhouse gas emissions are.

Tesis doctoral inédita leída en la Universidad Autónoma de Madrid, Facultad de Ciencias Económicas y Empresariales, Departamento de Análisis Económico, Teoría Económica e Historia Económica. Fecha de lectura: 19-02-2021

This paper examines the impact of COVID-19 on bilateral trade flows using a state-of-the-art gravity model of trade. Using the monthly trade data of 68 countries exporting across 222 destinations between January 2019 and October 2020, our results are threefold. First, we find a greater negative impact of COVID-19 on bilateral trade for those countries that were members of regional trade agreements before the pandemic. Second, we find that the impact of COVID-19 is negative and significant when we consider indicators related to governmental actions. Finally, this negative effect is more intense when exporter and importer country share identical income levels. In the latter case, the highest negative impact is found for exports between high-income countries, Universidad de Alcalá de Henares (UAH) and Banco Santander through research project COVID-19 UAH 2019/00003/016/001/007. De Lucio also thanks financial support from Comunidad de Madrid and UAH (ref: EPUINV/2020/006 and H2019/HUM5761)

Trabajo Fin de Grado. Curso Académico 2020-2021. Grado en Economía

During the confinement due to the Covid-19 crisis, economies survived thanks to the available technology and changes of the production model. To study the vulnerability of economies against the challenges of the recovery, in this paper we study the role of some factors related to the development of productive sectors, the use of technology, and the structure of public finances. Using panel data estimations for the European Union, we identify some characteristics that would help economies to boost economic growth. We find that the employment in sectors with a high technological content is the variable that most drives output growth, Durante el confinamiento de la población debido a la crisis del Covid-19, las economías han sobrevivido gracias a la tecnología disponible y a cambios en el modelo productivo. Para estudiar la vulnerabilidad de las economías frente a los retos de la recuperación, en este trabajo, estudiamos el papel de algunos factores relacionados con el desarrollo de los sectores productivos, el uso de la tecnología y la estructura de las finanzas públicas. Haciendo uso de estimaciones de datos de panel, para la Unión Europea, identificamos algunas características que ayudarían a las economías a impulsar el crecimiento económico. Encontramos que el empleo en sectores con un alto contenido tecnológico es la variable que más impulsa el crecimiento de la producción

Increasing concerns about sustainability and energy conservation, coupled with the proliferation of incentives in the EU to achieve energy savings, suggest that significant improvements in energy efficiency should be realized. A policy measure that should have a direct impact on energy savings is the replacement of incandescent and halogen light bulbs by more efficient lighting technologies, which was implemented in 2009. Due to the lack of detailed data, it is not feasible to measure the effect of energy-efficient improvements on electricity consumption at the aggregate level using a bottom-up approach. To overcome this limitation, this paper analyzes hourly electricity demand in a very specific period of the day: the transition from day to night. In this short period, it is plausible that lighting is the main driver of changes in electricity demand, thus making it possible to estimate the increase in electricity consumption when lights are switched on and to analyze the effects of higher energy efficiency in lighting, if any. The results of the analysis for Spain show that during the periods 2009–2011 and 2015–2016, an estimated energy savings of 251 GWh can be attributed to a reduction in the magnitude of the lighting effect, which accounts for 20.3% of the observed decrease in electricity consumption during these two periods.

Tesis Doctoral inédita leída en la Universidad Autónoma de Madrid. Facultad de Ciencias Económicas y Empresariales, Departamento de Análisis Económico, Teoría Económica e Historia Económica. Fecha de Lectura: 26-05-2021, Tesis financiada por el Ministerio de Economía, Industria y Competitividad, a través de los proyectos de investigación ECO2014-52372-P y ECO2017-82449-P.

Trabajo Fin de Grado. Curso Académico 2020-2021. Grado en Economía y Finanzas

Donald Trump’s so called trade wars and the COVID-19 pandemic are likely to have a substantial impact on international trade flows and would probably reshape globalization. As trade is restricted by tariffs, global value chains are shortened and international cooperation becomes more difficult, there is a chance that environmental sustainability will increase due to lower and shorter trade flows. This paper tackles this issue by exploring the impact that recent American tariffs have had on the EU with a special focus in Spain. Using the SMART simulation model developed by the World Bank and the UNCTAD, we estimate the impact of the new tariffs applied to iron, steel and aluminum, the products included in the list of products affected by the Airbus dispute, as well as the potential new tariffs to the automotive sector. We end with a discussion on the effects of this new wave of protectionism on sustainability, Es probable que las denominadas guerras comerciales de Donald Trump y la pandemia del COVID-19 tengan un impacto sustancial en los flujos comerciales internacionales y acaben por afectar al proceso de la globalización. A medida que el comercio se ve restringido por los aranceles, se acortan las cadenas de valor mundiales y la cooperación internacional se hace más difícil. Sin que sea tampoco evidente, es posible que la sostenibilidad medioambiental pueda beneficiarse de este acortamiento de los flujos comerciales mundiales. Desde una óptica más humilde, este artículo pretende analizar las repercusiones que los recientes aranceles estadounidenses han tenido en la UE, con un enfoque especial en España. Utilizando el modelo de simulación SMART

We explore the effect of institutional quality on participation in global value chains (GVCs) by distinguishing between backward and forward participation. Using a sample of 63 OECD and non-OECD countries during the period 2005-2015, the results obtained from a panel data estimation are twofold. First, we obtain a positive association between institutional quality and participation in GVCs, with slightly greater effects for backward than for forward participation. Second, we find that results are sensitive to the dimension of the institutions considered, with Voice and Accountability being associated with more backward participation, and Rule of Law and Political Stability with more forward participation, Se analiza el efecto de la calidad institucional en la participación en las cadenas globales de valor (CGV) distinguiendo entre participación hacia atrás y hacia delante. Utilizando una muestra de 63 países miembros y no miembros de la OCDE a lo largo del período 2005–2015, los resultados obtenidos a partir de una estimación con datos de panel reflejan una doble evidencia. En primer lugar, se obtiene una relación positiva entre calidad institucional y participación en CGV, que registra efectos ligeramente mayores para la participación hacia atrás que para la participación hacia delante. En segundo lugar, se encuentra que los resultados son sensibles a la dimensión de las instituciones considerada, ya que Voz y Rendición de Cuentas está asociada positivamente con mayor participación hacia atrás, mientras que Estado de Derecho y Estabilidad Política se relacionan positivamente con la participación hacia delante

We conducted an incentivized lab experiment examining the effect of gain vs. loss-framed warning messages on online security behavior. We measured the probability of suffering a cyberattack during the experiment as the result of five specific security behaviors: choosing a safe connection, providing minimum information during the sign-up process, choosing a strong password, choosing a trusted vendor, and logging-out. A loss-framed message led to more secure behavior during the experiment. The experiment also measured the effect of trusting beliefs and cybersecurity knowledge. Trusting beliefs had a negative effect on security behavior, while cybersecurity knowledge had a positive effect., The study was part of the European Commission’s project Behavioral Insights on Cybersecurity (JRC/SVQ/2014/J.3/0039/ RC-AMI).

This research analyzes the feasibility of adopting a common currency in South America using the Optimal Monetary Areas theory. Taking into account that the relative dominance of regional shocks in local output is considered a key indicator to adopt a regional currency, we use a structural vector autoregression (SVAR) model to determine what type of shock —among global, regional or country specific— prevails in South American economies. The results of variance decomposition demonstrate that the output trajectory of South American countries is mainly explained by country-specific shocks; therefore, South America as a whole is not considered not an optimal monetary area. However, we identified a group of countries —named Sud-5 (comprised of Chile, Peru, Ecuador, Brazil and Argentina)— for which the costs of a hypothetical monetary union would be relatively lower.

The Data Envelopment Analysis Toolbox is a new package for MATLAB that includes functions to calculate the main data envelopment analysis models. The package includes code for the standard radial input, output and additive measures, allowing for constant and variable returns to scale, as well as recent developments related to the directional distance function, and including both desirable and undesirable outputs when measuring efficiency and productivity; i.e., Malmquist and Malmquist-Luenberger indices. Bootstrapping to perform statistical analysis is also included. This paper describes the methodology and implementation of the functions, and reports numerical results using a reliable productivity database on US agriculture to illustrate their use., Javier Barbero and José L. Zofío thank the financial support from the Spanish Ministry for Economy and Competitiveness (Ministerio de Economía, Industria y Competitividad), the State Research Agency (Agencia Estatal de Investigacion) and the European Regional Development Fund (Fondo Europeo de Desarrollo Regional) under grants PID2019-105952GBI00 (AEI/FEDER,UE), and ECO2016-79650-P (AEI/FEDER, UE)

Donald Trump’s so called trade wars and the COVID-19 pandemic are likely to have a substantial impact on international trade flows and would probably reshape globalization. As trade is restricted by tariffs, global value chains are shortened and international cooperation becomes more difficult, there is a chance that environmental sustainability will increase due to lower and shorter trade flows. This paper tackles this issue by exploring the impact that recent American tariffs have had on the EU with a special focus in Spain. Using the SMART simulation model developed by the World Bank and the UNCTAD, we estimate the impact of the new tariffs applied to iron, steel and aluminum, the products included in the list of products affected by the Airbus dispute, as well as the potential new tariffs to the automotive sector. We end with a discussion on the effects of this new wave of protectionism on sustainability Es probable que las denominadas guerras comerciales de Donald Trump y la pandemia del COVID-19 tengan un impacto sustancial en los flujos comerciales internacionales y acaben por afectar al proceso de la globalización. A medida que el comercio se ve restringido por los aranceles, se acortan las cadenas de valor mundiales y la cooperación internacional se hace más difícil. Sin que sea tampoco evidente, es posible que la sostenibilidad medioambiental pueda beneficiarse de este acortamiento de los flujos comerciales mundiales. Desde una óptica más humilde, este artículo pretende analizar las repercusiones que los recientes aranceles estadounidenses han tenido en la UE, con un enfoque especial en España. Utilizando el modelo de simulación SMART

29 p., El presente documento de trabajo recoge una reflexión sobre cuál podría ser el impacto laboral provocado por la actual crisis sanitaria del COVID19. A través de las estadísticas de paro registrado, afiliaciones a la Seguridad Social y en base al posible efecto sobre el empleo (analizando sus características y composición se determinan cuáles serán los colectivos más perjudicados y/o aquellos que se encuentran en una situación laboral más vulnerable. Al respecto los grupos poblacionales en riesgo suelen ser las mujeres sobre-representada en los sectores productivos más afectados a medio plazo por la crisis sanitaria (Hostelería, Turismo y Comercio), los jóvenes entre los cuales se establece una elevada presencia del desempleo, los inmigrantes por presentar una situación laboral más precaria vinculada con la temporalidad, los mayores de 45 años que han sido muy perjudicados por la última crisis del empleo y los trabajadores menos cualificados o que desarrollan ocupaciones elementales debido a que no pueden adaptar su puesto de trabajo a las condiciones requeridas por el periodo de alarma en relación al teletrabajo. Ello establece un impacto laboral dispar entre los diferentes colectivos poblacionales que profundizará en las desigualdades laborales existentes dentro de nuestro mercado de trabajo. No se debe olvidar el componente humano que se escode detrás de las estadísticas las laborales., This working paper includes reflects on what the possible labor impact caused by the current health crisis of COVID19. Through the statistics of registered unemployment, affiliations to Social Security and based on the possible effect on employment, analysing its characteristics and composition, it is determined which groups will be most affected and / or those who are in a more vulnerable employment situation. In this regard, the population groups at risk are usually women who are over-represented in the productive sectors most affected in the medium term by the health crisis (Hospitality, Tourism and Commerce), young people among whom a high presence of unemployment is established, immigrants for presenting a more precarious employment situation linked to temporary employment, those over 45 years of age who have been severely affected by the latest employment crisis and those workers who are less qualified or engaged in elementary occupations because they are unable to adapt their jobs to the alarm period in relation to telework. This establishes a disparate labor impact among the different population groups that will deepen the existing labor inequalities within our labor market. The human component behind the labor statistics should not be forgotten.