Search results for "moneta"

Empirical Evidence on the Relationship between Mobile Termination Rates and Firms' Profits

2015

The theoretical literature on mobile termination rates (MTRs) is inconclusive on how the level of MTRs affects overall consumer charges and firms' profits. We show that when firms offer bundles with fixed included usage – a tariff structure that has become more common in recent years – an identical change in all MTRs does not affect firms' retail prices or profits. We use a panel dataset from saturated European markets to estimate the effect of MTRs on mobile operators' profits. As predicted by the theoretical model, we cannot reject the fact that firms' profits are unaffected by an identical change in all MTRs.

Financial Fragility and Interacting Units: an Exercise

2010

This paper assumes that financial fluctuations are the result of the dynamic interaction between liquidity and solvency conditions of individual financial units. The framework is designed as a heterogeneous agent model which proceeds through discrete time steps within a finite time horizon. The interaction at the microlevel between financial units and the market maker, who is in charge of clearing the market, produces interesting complex dynamics. The model is analyzed by means of numerical simulations and agent-based computational economics (ACE) approach. The behaviour and evolution of financial units are studied for different parameter regimes in order to show the importance of the param…

Dipo : ciudad 'tartésico-turdetana' en el valle del Guadiana

2009

Los hallazgos de monedas de Dipo en el término de Guadajira, Badajoz, y el estudio territorial del Valle del Guadiana en época orientalizante han permitido localizar esta importante población de la antigua Lusitania. Su origen es una colonia tartésica, paralela y rival de Medellín-Conisturgis, pues ambas controlaban dos ramales paralelos de la 'Via de la Plata ' y la vía de Olisipo a Oretum, que unía todas las colonias periféricas del mundo tartesio septentrional.

SOCIAL CAPITAL AND BANK PERFORMANCE: AN INTERNATIONAL COMPARISON FOR OECD COUNTRIES

2008

Over the last few years the literature on social capital and bank efficiency analysis has expanded rapidly. We merge them by analysing how social capital affects bank efficiency in OECD countries. We use activity analysis techniques to measure efficiency, and social capital, which is related to the concept of generalized trust, is considered an environmental variable. Results suggest that the effect of social capital is more relevant for those financial institutions operating in low-social-capital environments. In these cases, inefficiencies are biased upwards, and controlling for social capital enables these banks to move up in the efficiency rankings.

El pobre de la familia

2001

Las dos Europas

1998

El análisis de Vidal-Beneyto (I)

1993

El análisis de Vidal-Beneyto (II)

1993

Banking Competition, Housing Prices and Macroeconomic Stability

2012

We develop a dynamic general equilibrium model with an imperfectly competitive bank-loans market and collateral constraints that tie investors credit capacity to the value of their real estate holdings. Banks set optimal lending rates taking into account the effects of their price policies on their market share and on the volume of funds demanded by each customer. Lending margins have a significant effect on aggregate variables. Over the long run, fostering banking competition increases total consumption and output by triggering a reallocation of available collateral towards investors. However, as regards the short-run dynamics, we find that most macroeconomic variables are more responsive …

Government consumption volatility and the size of nations

2016

This paper analyzes the relation between government consumption volatility and country size. Using an unbalanced sample of 160 countries from 1960 to 2010, it finds that smaller countries have more volatile government consumption. Moreover, while this relation is more negative for more volatile economies, there is also evidence that smaller countries have more volatile government consumption even controlling for the level of volatility in the economy.