The factor content of regional bilateral trade: The role of technology and demand

The Heckscher–Ohlin–Vanek (HOV) model in its strict form has been strongly rejected by the data. Relaxing some assumptions of the standard HOV model is key to find improvements in its performance. We apply the Davis and Weinstein (2001) methodology to analyse the validity of the HOV model using regions rather than countries. Surprisingly, our results using data for 17 Spanish regions are similar to theirs with international data for OECD countries. Accounting for technological differences improves the predictive capacity of the factor proportions model and including trade costs and geography reduces significantly the missing trade problem. However, relaxing the assumption of factor price equalisation does not improve the performance of the HOV model in a regional setting.     

The case for multi-unit single-run descending-price auctions

We show that a multiple-unit descending-price auction in which the clock is not reset after each sale may be faster and yield more stable prices than an efficient alternative, thus providing sellers a rationale for using it in practice.     

Investigating regional house price convergence in the United States: Evidence from a pair-wise approach

In this paper we examine long-run house price convergence across US states using a novel econometric approach advocated by Pesaran (2007) and Pesaran et al. (2009). Our empirical modelling strategy employs a probabilistic test statistic for convergence based on the percentage of unit root rejections among all state house price differentials. Using a sieve bootstrap procedure, we construct confidence intervals and find evidence in favour of convergence. We also conclude that speed of adjustment towards long-run equilibrium is inversely related to distance.     

Water scarcity, social power and the production of an elite suburb: The political ecology of water in Matadepera, Catalonia

This article investigates the history of land and water transformations in Matadepera, a wealthy suburb of metropolitan Barcelona. Analysis is informed by theories of political ecology and methods of environmental history; although very relevant, these have received relatively little attention within ecological economics. Empirical material includes communications from the City Archives of Matadepera (1919-1979), 17 interviews with locals born between 1913 and 1958, and an exhaustive review of grey historical literature. Existing water histories of Barcelona and its outskirts portray a battle against natural water scarcity, hard won by heroic engineers and politicians acting for the good of the community. Our research in Matadepera tells a very different story. We reveal the production of a highly uneven landscape and waterscape through fierce political and power struggles. The evolution of Matadepera from a small rural village to an elite suburb was anything but spontaneous or peaceful. It was a socio-environmental project well intended by landowning elites and heavily fought by others. The struggle for the control of water went hand in hand with the land and political struggles that culminated - and were violently resolved - in the Spanish Civil War. The displacement of the economic and environmental costs of water use from few to many continues to this day and is constitutive of Matadepera's uneven and unsustainable landscape. By unravelling the relations of power that are inscribed in the urbanization of nature (Swyngedouw, 2004), we question the perceived wisdoms of contemporary water policy debates, particularly the notion of a natural scarcity that merits a technical or economic response. We argue that the water question is fundamentally a political question of environmental justice; it is about negotiating alternative visions of the future and deciding whose visions will be produced.     

The Asian clam Corbicula fluminea in the European freshwater-dependent industry: A latent threat or a friendly enemy?

While the biofouler Corbicula fluminea (Müller, 1774) is known to cause great economic losses in North America, studies reporting the problem in Europe are much scarcer. This paper explores the industrial effects of the species in Portugal, the gateway by which the bivalve entered Europe around 30 years ago. National waterworks, major power stations, cement plants, pulp and paper mills and irrigation systems were surveyed. The industrial impacts of the pest were shown to remain relatively mild; irrigation systems are those that seem to be facing more significant economic losses due to infestation. Possible reasons for the apparent discrepancy between this result and the species dispersal in natural ecosystems are discussed, and recommendations on adequate responses to the latent threat are provided. This study may assist the implementation of integrated pest management policies in countries at risk of invasion or recently invaded, and contribute to an understanding of the species’ progression in industrial environments.     

Idiosyncratic risk and financial policy

In economies subject to uninsurable idiosyncratic risks, competitive equilibrium allocations are constrained inefficient: reallocations of assets support Pareto superior allocations. This is the case even if the asset market for the allocation of aggregate risks is complete.     

Mein Partner ist dement

LebensAufgabe für pflegende Angeh?rige — Die Betreuung und Pflege eines demenziell erkrankten Familienangeh?rigen stellt nahe Bezugspersonen vor gro?e Herausforderungen. Ohne Unterstützungsangebote brechen viele unter der Last des Alltags zusammen. Pflegekr?fte sollten daher die Belastungsgrenzen von Angeh?rigen erkennen und ihnen rechtzeitig professionelle Hilfe anbieten.     

Singapore＇s Investments More Involved in China＇s Urbanization

<正>Singapore,a nation of merely around 5 million population,invested US＄5.657 billion to China in 2010,according to statistics from Ministry of Commerce of P.R....