Search results for "jel:L60"
showing 3 items of 3 documents
Cartels Uncovered
2018
How many cartels are there? The answer is important in assessing the efficiency of competition policy. We present a Hidden Markov Model that answers the question, taking into account that often we do not know whether a cartel exists in an industry or not. Our model identifies key policy parameters from data generated under different competition policy regimes and may be used with time-series or panel data. We take the model to data from a period of legal cartels - Finnish manufacturing industries 1951 - 1990. Our estimates suggest that by the end of the period, almost all industries were cartelized.
Factores de localización regional en las inversiones industriales
2008
En este trabajo se analiza la localización regional de la inversión industrial en España en el periodo 1964-2000, evaluando tanto la influencia de factores clásicos de demanda y coste como economías de aglomeración, y el papel desempeñado por las infraestructuras de transporte además del capital humano. Los resultados muestran que son el capital humano y las diferencias salariales los factores que más han contribuido a modificar la localización y el desplazamiento de la inversión hacia nuevos núcleos industriales, mientras que las infraestructuras de transporte y el crecimiento de los salarios han contribuido también a intensificar la utilización de capital sobre todo en las regiones con ma…
Work incentive and productivity in Spain
2013
Work incentives are closely related to production performance. This paper presents evidence that the value added of a firm increases when relative labor costs rise, or the level of unemployment increases. Both circumstances imply evidence in favor of the efficiency wage model. This theory is consistent with the views of many managers and personal administrators, who tend to ascribe primary importance to wage setting as an incentive to increase effort. We use a micro panel data set of Spanish manufacturing firms, during the period 2004–2009, to simultaneously estimate a stochastic frontier of a firm’s value added and the inefficiency determinants. The data source is published in the Spanish …