ISBN: 3790801046
TITLE: Essays on Microeconomics and Industrial Organisation
AUTHOR: Coto-Milln et al.
TOC:

Introduction
PART 1 Demand
1 Modeling Seasonal Integrated Time Series: the Spanish Industrial Production Index
J. L. Gallego-Gmez 5
1.1 Seasonal Time Series Models 5
1.2 Forecasting 9
1.3 Unobservable Components 11
1.4 Empirical Analysis 12
References 16
2 Passenger's Choice of Air Transport under Road Competition: the Use of Cointegration Techniques
J. Baos-Pino, P. Coto-Milln, V. Inglada-Lpez de Sabando 19
2.1 Introduction 19
2.2 The Model 21
2.3 The Data 22
2.4 Marshallian or Non Compensated Demands of Interurban Passenger Transport: Air and Road Transport 23
2.4.1 Air Transport Demand 23
2.4.2 Road Transport Demand 25
2.5 Conclusions 27
References 27
3 Introduction of an Innovative Product: the High Speed Train (AVE)
V. Inglada-Lpez de Sabando, P. Coto-Milln 29
3.1 AVE: Characterisation 29
3.2 Qualitative Analysis 31
3.3 The Concept of Generalised Cost 33
3.4 Comparison Among Different Competing Products 35
3.5 Induction and Substitution Effects 38
3.5.1 Induction Effect 38
3.5.2 Substitution Effect 39
3.5.3 The Demand for the New Product 39
3.6 Impact on Demand 40
References 40
4 An Approach to the Hub-and-Spoke Systems from SVARs Models. A Practical Application to Container Traffic between the Port of Bahia de Algeciras and Other Ports of the Spanish Port System (Bahia de Cdiz and Las Palmas)
J. I. Castillo-Manzano, P. Coto-Milln, L. Lpez-Valpuesta 41
4.1 Introduction and Reasons for Analysis 41
4.2 VAR Models: Methodological Approach 42
4.2.1 Impulse Response 43
4.3 Formulating Long-Run Restrictions under a SVAR Model Applied to a Hub-and-Spoke System 44
4.4 Practical Application to Container Traffic between the Bahia de Algeciras Port and other Ports of the Spanish Port System 47
4.4.1 Scenario 1: Existence of a Shared Hinterland between the Infrastructures. Practical Applications: Bivariate SVAR between the Ports Baha de Algeciras and Cdiz 48
4.4.2 Scenario 2: Lack of Shared Hinterland between Infrastructures. A Practical Application: Bivatiate SVAR between the Bahia de Algeciras and Las Palmas Ports 53
4.5 Conclusions 57
References 58
PART II. Production and Costs (Supply) 59
5 Technical and Allocative Inefficiency in Spanish Public Hospitals
C. Garca-Prieto 61
5.1 The Model 62
5.2 Definition of Variables and Functional Specification 66
5.2.1 Outputs 67
5.2.2 Input Prices 67
5.2.3 Fixed Input 68
5.2.4 Functional Form 68
5.3 Estimation and Results 69
5.4 Conclusions 72
References 73
6 Technical Efficiency of Road Haulage Firms
J. Baos-Pino, P. Coto-Milln, A. Rodrguez-lvarez, V. Inglada-Lpez de Sabando 75
6.1 Introduction 75
6.2 Efficiency 76
6.3 Classification of Efficiency Frontiers 78
6.4 A Theoretical Application to Goods Haulage Companies on Spanish Roads Using Panel Data 80
References 86
7 Technical Efficiency and Liberalisation within International Air Transport (1992- 2000)
P. Coto-Milln, V. Inglada-Lpez de Sabando, B. Rey, A. Rodrguez-lvarez 89
7.1 Introduction 89
7.2 Methodology 92
7.3 Description of the Data and the Variables Used 94
7.4 Econometric Specification 94
7.5 Results of the Estimation 95
7.6 Conclusions 100
References 101
8 Technological Innovation and Employment: Intersectoral Appraisals of Structural Change in the Service Economy
D. Daz-Fuentes 103
8.1 Introduction 103
8.2 Extent of Structural Change in Services Employment 106
8.3 Innovation and Employment Trends in Structural Change 108
8.4 Embodied Technology and Technology Diffusion in Services 110
8.5 Compositional Structural Change in Employment (Final and Intermediate Demand for Services) 114
8.6 Conclusions 116
References 117
PART III Market and Industrial Structure 121
9 The Measurement of Intra-industry Trade and Specialisation: a Review
G. Carrera-Gmez 123
9.1 Measures of Intra-industry Trade and Specialisation 123
9.1.1 Intra-industry Trade Indices 124
9.1.2 Intra-industry Specialisation Indices 131
9.1.3 Comparison of Measures 134
9.1.4 Later Developments 136
9.2 Trade Imbalance Adjustment 139
9.2.1 Grubel and Lloyd (1975) 139
9.2.2 Aquino (1978) 141
9.2.3 Balassa (1979) 144
9.2.4 Loertscher and Wolter (1980) 145
9.2.5 Bergstrand (1982) 145
9.2.6 Comments and Conclusions 147
9.3 Categorical Aggregation 148
9.3.1 Definition of the Problem 148
9.3.2 Categorical Aggregation Tests 149
9.3.3 Critics and Conclusions 151
9.4 Summary and Conclusions 152
References 153
10 Measurement of Intra-industry Trade: a Categorical Aggregation Exercise with Spanish Trade Data
G. Carrera-Gmez 155
10.1 Introduction 155
10.2 Methodology 156
10.2.1 Measurement of Infra-industry Trade 156
10.2.2 Categorical Aggregation: Definition of the Problem and Assessment Methods 157
10.3 Main Results Obtained 159
10.4 Summary and Conclusions 162
References 163
11 The Determinants of Intra-industry Trade in Spanish Manufacturing Sectors: a Cross-section Analysis
G. Carrera-Gmez 165
11.1 Spanish Intra-industry Trade Measurement 166
11.2 Analysis of the Determinants of Intra-industry Trade in Spain 167
11.2.1 Hypotheses 167
11.2.2 Data, Variables and Econometric Model 169
11.2.3 Results 171
11.3 Summary and Conclusions 173
References 173
12 Economic Integration, Vertical and Horizontal Intra-industry Trade and Structural Adjustment: the Spanish Experience
G. Carrera-Gmez 175
12.1 Data and Methodology 176
12.2 Results 179
12.3 Summary and Conclusions 184
References 184
PART IV. Failures of Market and Industrial Regulation 187
13 Organisation and Regulation of the Port Industry: Europe and Spain
B. Tovar, L. Trujillo, S. Jara-Daz 189
13.1 Introduction 189
13.2 Models of Port Property and Management 190
13.3 Private Participation in Ports 191
13.4 Regulation of Port Activities 193
13.5 Port Services and Terminals 194
13.5.1 Cargo Unitisation 196
13.5.2 Factors of Production and Their Regulation 196
13.6 Port Regulation in the European Union 199
13.6.1 Port Regulation in Spain 201
13.7 Conclusions 203
References 205
14 Positive Theory of Regulation: an Application to Spanish Foreign Trade
G. Camera-Gmez, P. Coto-Milln, J. Villaverde-Castro 209
14.1 Introduction 209
14.2 Data and Variables 210
13.3 Empirical Results 214
14.4 Conclusions 216
References 216
15 Structure, Functioning and Regulation of the Spanish Electricity Sector. The Legal Framework and the New Proposals for Reform
F. J. Ramos-Real, E. Martnez-Budra, S. Jara-Daz 219
15.1 Introduction 219
15.2 Structure, Functioning and Regulation of the Spanish Electricity Sector between 1983-1996 220
15.2.1 The Reform Process and the Basic Principles Regulating the System's Operation (1983-1996) 222
15.2.2 Unified Management and Central Planning 223
15.2.3 The Rates and Financial Return Policy of the Legal and Stable Framework (MLE) 224
15.3 Regulation Reform in the Spanish Electricity Sector from 1997 231
15.4 Conclusions 235
References 236
16 Effects of a Reduction of Standard Working Hours on Labour Market Performance
C. Prez-Domnguez 237
16.1 Effects on Employment 238
16.1.1 The Basic Model 238
16.1.2 The Role of Fixed Labour Costs 239
16.1.3 Effort Effect and Organisational Effect 241
16.2 Effects on Labour Market Participation 244
16.2.1 Labour Market Participation with Compulsory Working Hours 244
16.2.2 Effects of a Reduction of the Working Hours on Aggregate Labour Supply 246
16.3 Effects on the Unemployment Rate 247
16.3.1 The Basic Case 247
16.3.2 Effects on the Unemployment Rate under a More General Model 249
16.4 Conclusions 250
References 251
17 Transitional Dynamics and Endogenous Growth Revisited: the Case of Public Capital
B. Snchez-Robles 253
17.1 Introduction 253
17.2 Setup of the Models 254
17.3 Solution for the BGP in the CES Case 256
17.4 The Time Elimination Method and the Analysis of Transitional Dynamics 260
17.5 Discussion of the Main Results of the Simulations 262
17.6 Conclusions 272
Appendix 273
References 274
18 Unions, Wages and Productivity. The Spanish Case, 1981-2000
N. Snchez-Snchez, B. Snchez-Robles 277
18.1 Introduction 277
18.2 Theoretical Background 280
18.2.1 Elasticity of Output with Respect to Unions through Wages 281
18.2.2 Elasticity of Productivity to Unions through Changes in Efficiency 282
18.2.3 Total Elasticity of Productivity to Unions 283
18.3 Empirical Analysis 283
18.4 Data and Variables 285
18.5 Main Empirical Results 286
18.6 Concluding Remarks 293
References 294
19 Comparative Analysis of Port Economic Impact Studies in the Spanish Port System (1992- 2000)
J. I. Castillo-Manzano, P. Coto-Milln, M. A. Pesquera, L. Lpez-Valpuesta 297
19.1 Introduction 297
19.2 The Economic Impact Studies as a Tool Employed by the Port System 298
19.3 Spanish Impact Studies Representative Sample 300
19.4 Comparative Methodology of the Impact Studies 306
19.4.1 Variables Chosen 306
19.4.2 Testing by Homogenising the Variables over Time 307
19.4.3 Testing by the Homogenisation of the Variables over Time and in the Geographical Area 309
19.5 Conclusions 314
Appendix 315
References 315
Additional References 316
20 Economic Impact of Santander Airport
G. Carrera-Gmez, P. Coto-Milln, R. Sainz-Gonzlez, V. Inglada-Lpez de Sabando 317
20.1 Introduction 317
20.2 Direct Effects of the Airport Industry 319
20.2.1 Santander Airport. AENA 319
20.2.2 Customs and Administration Services 319
20.2.3 Rest of Airport Industry 320
20.2.4 Total Airport Industry 320
20.3 Indirect and Induced Effects of Airport Industry 321
20.3.1 Regionalisation of the National Input-Output Table 322
20.3.2 Indirect and Induced Impact Vectors 324
20.3.3 Total Airport Industry 328
20.4 Total Effects of the Airport Industry 329
20.5 Effects of the Airport-Dependent Industry 329
20.6 Induced Effects of the Airport-Dependent Industry 330
20.7 Impact of Santander Airport on the Economy of Cantabria 331
20.8 Summary and Conclusions 331
References 332
Other References 332
21 Dynamic Adjustments in a Two-Sector Model
F. Galera, P. Coto-Milln 333
21.1 The Formal Model 333
21.2 Basic Results 335
21.3 Conclusions 337
Annex 337
Basic References 340
Other References 340
22 Market Failures: the Case for Road Congestion Externalities
V. Inglada-Lpez de Sabando, P. Coto-Milln 343
22.1 Introduction 343
22.2 Externality 344
22.2.1 Concept 344
22.3 Transport Externalities 346
22.3.1 Methodological Framework 346
22.3.2 Typology 347
22.3.3 Internalisation Instruments 348
22.4 Congestion 349
22.4.1 Concept 349
22.4.2 Congestion Pricing 350
22.5 The Case of Spain 354
22.5.1 Assessment Process 354
22.5.2 Results 356
22.6 Conclusions 358
References 358
23 Social Benefits of Investment Projects: the Case for High-Speed Rail
V. Inglada-Lpez de Sabando, P. Coto-Milln 361
23.1 Introduction 361
23.2 Methodological Framework 362
23.3 High-Speed Rail 364
23.3.1 Main Features 364
23.3.2 Corridor Features 365
23.3.3 Features of the AVE 366
23.3.4 Mode Parameters and Features 367
23.3.5 Demand 370
23.4 Cost-Benefit Analysis 371
23.4.1 Social Costs 371
23.4.2 Social Benefits 373
23.4.3 Other Social Benefits 375
23.4.4 Other Evaluation Hypotheses 381
23.4.5 Social Profitability 382
23.5 Conclusions 384
References 385
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