Population suburbanization in Barcelona, 1991–2005: Is its spatial structure changing?

The aim of this article is to determine whether population suburbanization is occurring in Barcelona and, if so, how it is organized spatially. This issue is addressed through an analysis of the spatial structure of the population of the Barcelona Metropolitan Region and its evolution between 1991 and 2005. The ultimate aim is to determine whether there is a process of population suburbanization during these 15 years and, if this is the case, whether it arises according to a dispersed or a polycentric model. The results are consistent with a polycentric model for 1991 and 2005. However, this spatial structure is changing because of the process of suburbanization, which is affecting both the central business district and subcenters. During this same period, it is found that the role played by transport infrastructure in determining the spatial structure is becoming stronger. Without considering this latter result, it would appear that the dispersed model would best describe the next spatial stage. On the other hand, if the role played by transport infrastructure is taken into consideration, the next spatial stage would be an accessibility model in which population concentrates along freeways and highways.     

Single european currency: Effects on firm structure and personnel management

This paper examines the likely effects of the introduction of the single European currency, whose arrival means that the development of the economic space of the European Union will be completed. Two aspects of the forthcoming changes are analyzed. First is the process of monetary integration, which will spread over three years, and is here reviewed chronologically. Second is the final effect of this process on firms—how different company structures will adapt and what actions will have to be taken with regard to the management of human resources.     

Assessing the Impact of Fair‐Value Accounting on Financial Statement Analysis: A Data Envelopment Analysis Approach

The historical‐cost and prudence principles have guided accounting for financial investments and tangible fixed assets in many jurisdictions around the globe. This situation might change as a consequence of the increasing number of countries adopting International Financial Reporting Standards (IFRS), which, to some extent, permit accounting on a fair‐value basis. It is unclear how such a change would affect the analysis of financial statements and to what extent it could modify analysts' perceptions of companies' condition and performance. This paper attempts to shed some light on this issue by restating the financial investments and tangible fixed assets of a sample of 85 Spanish insurance companies, applying fair value instead of historical‐cost‐based valuations and by simulating analyst perception of these companies' efficiency and profitability for both sets of data using data envelopment analysis (DEA). We find that the numbers on the face of the financial statements change considerably and observe that the magnitude of these changes varies between companies and classes of assets. However, only in a few cases does a change in the valuation basis lead to a relevant change in DEA scores; within our sample, the overall assessment of companies with regard to efficiency and profitability remains largely the same under both valuation bases. These findings seem to indicate that a change from historical‐cost to fair‐value accounting could alter analyst perceptions of a limited number of companies but likely will not have a major impact on the appraisal of the majority of them.     

Mobility and labour market exclusion in the Barcelona Metropolitan Region

This article analyses the relationship between daily mobility and labour market exclusion. In many areas of the Barcelona Metropolitan Region, the predominant car-based mobility model and the secondary role of public transport discriminate against non-car users when it comes to job opportunities. This territory’s capacity to generate labour market inclusion is analysed based on multi-functionality and the level of public transport services which, in turn, serve as a basis for three territorial classifications: non-excluding, semi-excluding and excluding.     

Optimal information transmission in organizations: search and congestion

We propose a stylized model of a problem-solving organization whose internal communication structure is given by a fixed network. Problems arrive randomly anywhere in this network and must find their way to their respective specialized solvers by relying on local information alone. The organization handles multiple problems simultaneously. For this reason, the process may be subject to congestion. We provide a characterization of the threshold of collapse of the network and of the stock of floating problems (or average delay) that prevails below that threshold. We build upon this characterization to address a design problem: the determination of what kind of network architecture optimizes performance for any given problem arrival rate. We conclude that, for low arrival rates, the optimal network is very polarized (i.e. star-like or centralized), whereas it is largely homogenous (or decentralized) for high arrival rates. These observations are in line with a common transformation experienced by information-intensive organizations as their work flow has risen in recent years.     

The new organizational structure and its virtual functioning

"Virtuality" is initiating a change in organizations. It is necessary for companies to be managed flexibly and to respond to the changing needs of the environment. Some new concepts of understanding the organization, accompanied by current technological developments, may offer some opportunities and solutions to the various strategies. How does this new concept of organization with no presence, no physical attendance, and no material factors affect existing companies? This paper deals with questions such as: What is virtuality for companies? How does one manage a virtual company? What elements of virtuality need to be considered by traditional companies entering the new millennium? These questions will be reflected upon and analyzed from a theoretical framework. The framework will provide the basis for the design of an empirical study. The results of the study contribute to and give feedback on these initial questions.     

Does the Exchange Rate Respond to Monetary Policy in Mexico? Solving an Exchange Rate Puzzle in Emerging Markets

This paper argues that the null or weak response of emerging market currencies to domestic monetary policy documented in the literature is the result of wide event windows. An event study with intraday data for Mexico shows that an unanticipated tightening appreciates the currency and flattens the yield curve, consistent with the evidence for advanced economies. With daily event windows, however, only the yield curve responds to monetary policy. Noise in daily exchange rate returns explains the lack of response of the currency. Such noise gives rise to a bias that declines after controlling for potential omitted variables.