Panel data stochastic convergence analysis of the Mexican regions

The stochastic convergence amongst Mexican Federal entities is analyzed in panel data framework. The joint consideration of cross-section dependence and multiple structural breaks is required to ensure that the statistical inference is based on statistics with good statistical properties. Once these features are accounted for, evidence in favour of stochastic convergence is found. Since stochastic convergence is a necessary, but not sufficient, condition for convergence as predicted by economic growth models, the paper also investigates whether β-convergence process has taken place. We found that the Mexican states have followed either heterogeneous convergence patterns or divergence process throughout the analyzed period.     

SHORT‐RUN AND LONG‐RUN DETERMINANTS OF THE REAL EXCHANGE RATE IN MEXICO

This paper explores the real exchange rate behavior in Mexico from 1960 until 2005. Since the empirical analysis reveals that the real exchange rate is not mean reverting, we propose that economic fundamental variables affect its evolution in the long run. Therefore, based on equilibrium exchange rate paradigms, we propose a simple model of real exchange rate determination, which includes the relative GDP per capita, the real interest rates, and the net foreign assets over a long period of time. Our analysis also considers the dynamic adjustment in response to shocks through impulse response functions derived from the multivariate vector autoregressive (VAR) model.     

Empirical analysis of the relationship between labour cost stickiness and labour reforms in Spain

This study performs an empirical analysis on the relationship between labour cost stickiness and the decrease in employment protection in the Spanish labour reforms in 2010 and 2012. Following these reforms, the sticky behaviour of labour costs substantially decreased with respect to the pre-reform period. All constituents of total labour costs followed a similar pattern: wages, social security contributions and number of employees. Results are robust to different models, estimation methods, periods of time, and industries, as well as with respect to endogeneity concerns.     

Upskilling y cambios distributivos en la cadena global de valor de la industria electrónica

La cadena global de valor de la industria electrónica es una de las más complejas de la economía internacional. Utilizando las tablas input‐output internacionales de 2000‐2014, se infieren las contribuciones individuales a dicha cadena para observar cómo la crisis de 2007–2008 afectó a su evolución y cartografiar las interacciones internacionales. Se observa un aumento de la deslocalización hasta el estallido de la crisis y después China y otras economías de Asia oriental se convierten en un epicentro de creación de valor. También se observa una profunda transformación de las tecnologías de producción, acompañada de un proceso de mejora del perfil de la cualificación (upskilling).     

The Effects of Immigration on Labour Tax Avoidance: An Empirical Spatial Analysis

We investigate whether the geographic concentration of non-EU immigrants in the various Italian provinces affects labour tax avoidance (LTAV) practices adopted by firms located in the same provinces, as well as in the neighbouring provinces, and operating in construction and agriculture industries that mostly employ immigrants in Italy. For this purpose, we develop a LTAV proxy based on the financial accounting information of a sample of 993,606 firm-years, disseminated throughout the 108 Italian provinces, over the period 2008–2016. Our results, based on a Spatial Durbin Model panel regression, reveal a statistically significant positive association between the concentration of non-EU immigrants and LTAV at province level, as well as the presence of spillover effects among neighbouring provinces. Our findings are robust to several additional analyses, including instrumental variable estimations. Our study provides empirical support to previous structuralist or marginalization theories holding that socioeconomically marginalized groups, such as non-EU immigrants, are more likely to be involved in labour exploitation practices, which could underlie our LTAV outcomes. Furthermore, it supports the need for tax authorities to strengthen labour inspections, coordinated at national level, especially in those contexts where non-EU immigrants are mostly employed. On the other hand, a greater social integration, assistance, and recognition of rights of immigrants may help to alleviate their situation of weakness that makes them more vulnerable to LTAV practices. Finally, tackling LTAV, associated with the underemployment of immigrants, may prevent its negative effects for society arising from the reduction of public resources to sustain the social welfare and finance public goods and services.

     

Setting the Context: The Role Information Technology in a Business Ethics Course Based on Face-to-Face Dialogue

Based on the experience of a course taught by the authors, this paper seeks to show that an adequate use of IT in the teaching of a Business Ethics (BE) course depends on clarifying the assumptions about ethics and the place of the course within a programme. For this purpose it explains how IT can be used to strengthen a view of BE based on dialogue and mutual learning and it encourages the combination between virtual and face-to-face teaching. Finally, the paper examines the relationship between the use of IT, individual learning processes and communities of practice.     

A guide to the computation of stationarity tests

In this paper we compare ways of computing stationarity tests. We show that whereas some of the procedures recommended lead to inconsistency of the tests, it is still possible to compute a test with good properties in finite sample in terms of empirical size and power. The guidance suggested in the paper is illustrated by testing for the purchasing power parity hypothesis in some developed countries.

Impact of lifestyle oriented-motivation and corporate social responsibility on multiadventure sports firms´ performance

International Entrepreneurship and Management Journal - The number of sports firms has grown in recent years, along with the emergence in this sector of so-called lifestyle entrepreneurs. However,...     

Rational stability of choice functions

Two independent approaches have been used to analyze choices. A prominent notion is rationalizability: individuals choose maximizing binary relations. An alternative is to analyze choices in terms of standards of behavior with the notion of von Neumann–Morgenstern (vNM)-stability. We introduce a new concept ($r-$stability) that in turn extends the notion of stability and rationality. Our main result establishes that every rationalizable choice function is $r-$stable and every vNM-stable choice has an $r-$stable selection. An appealing property of $r-$stability is that well-known solution concepts (top cycle, uncovered set, …) are $r-$stable, while they are neither rationalizable nor vNM-stable.