Revistas
Revista:
JOURNAL OF ECONOMIC STUDIES
ISSN:
0144-3585
Año:
2019
Vol.:
46
N°:
2
Págs.:
356 - 371
Purpose
The purpose of this paper is to examine the impact of fossil fuel prices ¿ crude oil, natural gas and coal ¿ on different electricity prices in Mexico. The use of alternative variables for electricity price helps to increase the robustness of the analysis in comparison to previous empirical studies.
Design/methodology/approach
The authors use an unrestricted vector autoregressive model and the sample covers the period January 2006 to January 2016.
Findings
Empirical findings suggest that crude oil, natural gas and coal prices have a significant positive impact on electricity prices ¿ domestic electricity rates ¿ in Mexico in the short run. Furthermore, crude oil and natural gas prices have also a significant positive impact on electricity prices ¿ commercial and industrial electricity rates.
Originality/value
Two are the main contributions. First, this paper explores the nexus among crude oil, natural gas, coal and electricity prices in Mexico, while previous studies focus on the US, UK and some European economies. Second, instead of using one electricity price as a reference of national or domestic electricity sector, the analysis considers alternative Mexican electricity prices.
Revista:
ECONOMIC INQUIRY
ISSN:
0095-2583
Año:
2017
Vol.:
55
N°:
1
Págs.:
339 - 351
We propose a model with two markets to analyze the welfare implications of price discrimination with quality differences. In each market a local firm that operates in that market only competes against a global firm that operates in both markets. Local firms produce higher-quality goods than the global firm. If the quality levels of the local firms' products are the same, price discrimination is never welfare-decreasing. If they differ, discrimination is welfare-increasing if quantity increases. Because of a positive allocation effect of price discrimination, there are parameter values such that welfare increases while total output decreases with price discrimination. (JEL D43, D60)
Revista:
JOURNAL OF ECONOMICS
ISSN:
0931-8658
Año:
2017
Vol.:
120
N°:
3
Págs.:
269 - 277
We discuss a potential limitation to a widely accepted result, namely that an output increase is a necessary condition for welfare to increase with price discrimination. We use a theoretical model to show that the existence of seasonal demand fluctuations may allow for a simultaneous reduction in verage output and increase in average welfare. We also discuss a number of extensions of our basic model.
Revista:
JOURNAL OF POLICY MODELING
ISSN:
0161-8938
Año:
2016
Vol.:
38
N°:
1
Págs.:
166 - 180
This paper investigates the relationship between oil prices and exchange rates in three African countries using a Vector AutoRegressive (VAR) model. We use daily data on nominal exchange rates, oil prices and short term interbank interest rates from 01/12/2003 to 02/07/2014. The results suggest that the exchange rate of the three selected countries behavior is different in the event of an oil price shock, not only before and after the oil peak of July of 2008, but also between each other. Therefore, no general rule can be made for net oil importing sub-Saharan countries, such as Botswana, Kenya and Tanzania. We conclude that after an oil price peak, the Botswanan pula clearly appreciates against the US dollar, the Kenyan and Tanzanian shilling.
Revista:
ENERGY ECONOMICS
ISSN:
0140-9883
Año:
2016
Vol.:
54
Págs.:
417 - 430
This study examines the relationship between oil price volatility and stock returns in the G7 economies (Canada, France, Germany, Italy, Japan, the UK and the US) using monthly data for the period 1970 to 2014. In order to measure oil volatility we consider alternative specifications for oil prices (world, nominal and real prices). We estimate a vector autoregressive model with the following variables: interest rates, economic activity, stock returns and oil price volatility taking into account the structural break in the year 1986. We find a negative response of G7 stock markets to an increase in oil price volatility. Results also indicate that world oil price volatility is generally more significant for stock markets than the national oil price volatility.
Revista:
CUESTIONES ECONOMICAS
ISSN:
0252-8673
Año:
2016
Vol.:
26
N°:
2
Págs.:
141 - 167
In this paper we study the impact of oil price shocks on real economic activity and inflation rates in three Latin American economies (Brazil, Colombia and Peru) using a Vector AutoRegressive (VAR) model over the period 1991:M01-2014:M01. We also consider different oil shock specifications. We find a strong and prolonged increase in inflation in Brazil after an oil price shock and a negative effect with respect to economic growth. We find less significant results for Colombia and Peru that can be explained by the distorted pass-through of oil price shocks to domestic prices.
Revista:
APPLIED ECONOMICS LETTERS
ISSN:
1350-4851
Año:
2014
Vol.:
21
N°:
17
Págs.:
1221 - 1225
This article analyses a model in which a local monopolist that produces low-quality goods competes against a foreign competitive industry that produces a higher quality version of the goods. We use the model to analyse the welfare implications of introducing a unit tax on the local producer, relative to an ad valorem tax. We find parameter values for which the unit tax dominates the ad valorem tax, in the sense of increasing welfare while not reducing government revenues. This result contrasts with the mainstream results on the dominance of ad valorem over unit taxes
Revista:
MODERN ECONOMY
ISSN:
2152-7245
Año:
2012
Vol.:
3
Págs.:
205-209
This paper offers further evidence to "The Economist" index of economic power developed by Pujol (2002, 2003, and 2009). The original index is composite by construction and it gives information about year 2000, comparing the results with year 1990.
Revista:
JOURNAL OF BUSINESS ETHICS
ISSN:
0167-4544
Año:
2012
Vol.:
105
N°:
2
Págs.:
151 - 162
We conduct an empirical study on the determinants of the psychological costs of tax evasion, also known as tax morale.
Revista:
PRESUPUESTO Y GASTO PUBLICO
ISSN:
0210-5977
Año:
2011
N°:
65
Págs.:
111 - 130
Revista:
CONSTITUTIONAL POLITICAL ECONOMY
ISSN:
1043-4062
Año:
2010
Vol.:
21
N°:
1
Págs.:
50 - 79
Revista:
REVISTA EMPRESA Y HUMANISMO
ISSN:
1139-7608
Año:
2010
Vol.:
13
N°:
2
Págs.:
41 - 66
Las perspectivas financieras de las pensiones españolas no son halagüeñas. La recesión ha provocado una fuerte caída del número de cotizantes. Viviremos, además, un intenso envejecimiento de la población, que elevará las tasas de dependencia en los próximos cuarenta o cincuenta años. Ambos son retos de envergadura para la sostenibilidad financiera del actual modelo de pensiones. En este artículo se abordan las distintas opciones con que hacer frente a dichos desafíos y se defiende la urgente necesidad de un debate público sobre la cuestión. Un debate riguroso que, con el pretexto de evitar la politización de un asunto tan sensible, ha sido sistemáticamente negado a la sociedad española por la opacidad política del Pacto de Toledo, provocando entre los españoles confusión y complacencia acerca de la viabilidad del sistema de pensiones.-----The financial perspectives for the future of the pensions¿ system in Spain are not very hopeful. Economic recession has caused a substantial decrease in Social Security affiliation. We also expect the intensification of the Spanish aging population and, consequently, higher dependence rates. All these problems pose great challenges for the financial sustainability of the pensions' system. In this paper we address the different possible options to face those challenges and point to the urgent debate this question asks for. Unfortunately, this debate has been systematically neglected. Precisely trying to avoid partisan discussions, the debate has been left to the Pacto de Toledo, which has political opacity as one of its main characteristics. This situation leads to social ignorance and indulgence with respect to the sustainability of the pensions system
Nacionales y Regionales
Título:
RENDIMIENTOS Y VOLATILITDAD DE LOS PRECIOS DE LAS MATERIAS PRIMAS: DETERMINANTES, CONECTIVIDAD E
IMPLICACIONES MACRO-FINANCIERAS
Código de expediente:
PID2020-114275GB-I00
Financiador:
AGENCIA ESTATAL DE INVESTIGACION
Convocatoria:
2020 AEI PROYECTOS I+D+i (incluye Generación del conocimiento y Retos investigación)
Fecha de inicio:
01/09/2021
Fecha fin:
31/08/2024
Importe concedido:
60.258,00€
Otros fondos:
-
Título:
Precios del petróleo y de las materias primas, incertidumbre económica y su interacción con variables económicas y financiaeres. Implicaciones de política
Código de expediente:
ECO2017-83183-P
Financiador:
MINISTERIO DE CIENCIA E INNOVACIÓN
Convocatoria:
2017 MINECO RETOS INVESTIGACION. PROYECTOS DE I+D+i
Fecha de inicio:
01/01/2018
Fecha fin:
30/09/2021
Importe concedido:
29.040,00€
Otros fondos:
Fondos FEDER
