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101.
José García-Solanes Jesús Rodríguez-López José Luis Torres 《Open Economies Review》2011,22(4):739-766
This paper studies the trade balance dynamics in the G-7 countries plus Spain. We estimate a SVAR model to identify three
different shocks: real supply shocks, real demand disturbances and nominal shocks. A microfounded stochastic open-economy
model is built to derive the long-term identification restrictions. Estimates show that real demand shocks explain most of
the variability of trade imbalances, whereas, contrary to previous findings, nominal shocks play a very limited role. These
results are consistent with the predictions of a widely set of open-economy models and illustrate that demand policies are
the main responsible of trade imbalances. 相似文献
102.
Beatriz Tovar Roberto Rendeiro Martín-Cejas 《Transportation Research Part E: Logistics and Transportation Review》2010,46(2):249-260
This paper contributes to the airport benchmarking literature in two ways. To our knowledge, this is the first attempt at using a stochastic distance function to measure airports’ productivity changes while considering multiple outputs. Secondly, we calculate the evolution and decomposition of the Total Factor Productivity (TFP) for Spanish airports. The average rate of productivity showed a slight annual improvement of 0.9%, and the core engine of this was 3% increase in technical progress rather than through efficiency. Results, by airport, identify those needing improvement, to be more attractive in the Spanish airport restructuring program. 相似文献
103.
104.
Jordi Vilaseca-Requena Joan Torrent-Sellens Antoni Meseguer-Artola Inma Rodríguez-Ardura 《International Advances in Economic Research》2007,13(2):222-241
This work aims to explain firms’ decisions to adopt Internet-based e-commerce, and the extent to which the adopters subsequently
implement e-commerce to commercialize their products and services. We examine various types of factors previously considered
by the literature (competitive environment, organizational characteristics, strategic orientation, innovative capacity, managers’
characteristics, IT equipment possessed and the use made of it). The analytical model developed here on the basis of a sample
of 2,038 firms suggests that the factors influencing the adoption decision are different from those that eventually influence
the results of firms’ commercial operations on the Internet. Likewise, we discuss the contribution of each type of determinant
and the implications.
相似文献
105.
This paper evaluates the influence of contracting out, or outsourcing, certain airport services and of commercial diversification strategy. Although most of the effort is being put towards applying non-parametric techniques in airport efficiency studies, we have chosen parametric methodology. We use a distance function, as it has known advantages. The findings show the positive contribution of outsourcing and non-aeronautical revenues on the efficiency of the Spanish airports' network. 相似文献
106.
This is a study of how contractual mechanisms can mitigate agency conflicts in sub-advised mutual funds. Sub-advising contracts allow fund families to expand their product offerings to include new investment styles and thereby gain market share. We show that costly contractual arrangements, such as co-branding, multi-advising, and performance-based compensation, can mitigate agency conflicts in outsourcing and protect investors from potential underperformance. Fund families will find it cost-effective to implement such incentive mechanisms only when investors are sophisticated in assessing manager skill. The findings help to explain why a large percentage of fund families outsource their funds to advisory firms. 相似文献
107.
We predict that accounting conservatism influences insiders' opportunities to speculate on good and bad news, and thus, insider trading profitability. We find that greater conditional (unconditional) conservatism is associated with lower (higher) insiders' profitability from sales. We find limited evidence that conservatism influences profitability from purchases. These findings are consistent with our hypotheses on the different informational roles of conditional and unconditional conservatism, and on the asymmetric influence of conservatism over the opportunities to speculate on good versus bad news. Our research design takes into consideration the endogenous nature of insiders' trading and conservatism. The results are robust to different measures of conservatism and a number of additional analyses. 相似文献
108.
This note shows the empirical dangers of the presence of large additive outliers when testing for unit roots using standard unit root statistics. Using recent proposed procedures applied to four Latin-American inflation series, I show that the unit root hypothesis cannot be rejected.Jel classification: C2, C3, C5I want to thank Pierre Perron for useful comments on a preliminary version of this paper. Helpful comments from an anonymous referee, and Yiagadeesen Samy are appreciated. I thank the Editor Baldev Raj for useful comments about the final structure of this paper. Finally, I also thank André Lucas for helpful suggestions concerning the use of his nice computer program Robust Inference Plus Estimation (RIPE).First revision received: August 2001/Final revision received: December 2002 相似文献
109.
Despite its potential, the World Wide Web is not yet a real or viable alternative for marketing channels in Spain. This research attempts to identify and evaluate the factors that contribute and facilitate the development of the Web as an environment for commercial activities in the food and beverage sector in Spain. Spanish consumers have traditionally shown little interest in all forms of distance buying and direct marketing. A range of factors may facilitate this development such as continuous growth in access to the Internet, continued evolution of computer technology, reductions in Internet connection tariffs, and communication speed. Consumers' income, the availability of information online, and the online consumption experience may also act as an impulse for commercial developments on the Web. 相似文献
110.
Melanie Lisac Kerstin Blum Sophia Schlette Hans Maarse Yvette Bartholomée David McDaid Adam Oliver Ignacio Abásolo Beatriz G. Lopez-Valcarcel Gianluca Fiorentini Matteo Lippi Bruni Cristina Ugolini Eszter Sinkó 《Intereconomics》2008,43(4):184-218
The organisation of health care differs widely across Europe. Access to services, financing schemes, incentives for better care, and administrative efficiency are challenges that are being dealt with in a variety of ways. Are insurance-based systems the best solution for balancing resources and services or are national health funds preferable? Does the introduction of competition fulfil high hopes for better service at lower costs? What are the relative advantages and drawbacks of central and local management of health care? 相似文献