Una aproximación cuantitativa a la calidad de zona: caso residencial Barcelona

La calidad de zona se encuentra íntimamente ligada a las preferencias de los individuos por ocupar lugares específicos de un área geográfica, municipio, ciudad, distrito o barrio. En donde sea posible tener facilidades a las mejores condiciones de acceso al trabajo, a equipamientos urbanos o simplemente donde poder establecer las relaciones sociales de su preferencia. Este documento tiene el propósito de mostrar la metodología utilizada para estimar los elementos de calidad que caracterizan una zona urbana residencial. Los elementos considerados parten de indicadores obtenidos de las bases de datos oficiales, pasando por diversas etapas de síntesis en conceptos cada vez más amplios hasta llegar a un indicador sintético de calidad de zona. La síntesis gradual de la información de calidad de zona se realiza a partir de un método multivariante de reducción de la información (Componentes Principales) y se complementa con otro método de suma de distancias para obtener indicadores sintéticos (Distancia Ponderada 2). Para finalmente mostrar sus valores en la geografía del Municipio de Barcelona, utilizando herramientas de sistemas de información geográficaPeer Reviewe

Estimación de la tasa de rentabilidad inmobiliaria: caso Barcelona

Peer Reviewe

Supply-side policies and the zero lower bound

This paper examines how supply-side policies may play a role in fighting a low aggregate demand that traps an economy at the zero lower bound (ZLB) of nominal interest rates. Future increases in productivity or reductions in mark-ups triggered by supply-side policies generate a wealth effect that pulls current consumption and output up. Since the economy is at the ZLB, increases in the interest rates do not undo this wealth effect, as we will have in the case outside the ZLB. The authors illustrate this mechanism with a simple two-period New Keynesian model. They discuss possible objections to this set of policies and the relation of supply-side policies with more conventional monetary and fiscal policies.Supply-side economics ; Keynesian economics

Fortune or Virtue: Time-Variant Volatilities Versus Parameter Drifting in U.S. Data

This paper compares the role of stochastic volatility versus changes in monetary policy rules in accounting for the time-varying volatility of U.S. aggregate data. Of special interest to us is understanding the sources of the great moderation of business cycle fluctuations that the U.S. economy experienced between 1984 and 2007. To explore this issue, we build a medium-scale dynamic stochastic general equilibrium (DSGE) model with both stochastic volatility and parameter drifting in the Taylor rule and we estimate it non-linearly using U.S. data and Bayesian methods. Methodologically, we show how to confront such a rich model with the data by exploiting the structure of the high-order approximation to the decision rules that characterize the equilibrium of the economy. Our main empirical findings are: 1) even after controlling for stochastic volatility (and there is a fair amount of it), there is overwhelming evidence of changes in monetary policy during the analyzed period; 2) however, these changes in monetary policy mattered little for the great moderation; 3) most of the great performance of the U.S. economy during the 1990s was a result of good shocks; and 4) the response of monetary policy to inflation under Burns, Miller, and Greenspan was similar, while it was much higher under Volcker.DSGE models, Stochastic volatility, Parameter drifting, Bayesian methods

Reading the recent monetary history of the United States, 1959-2007

In this paper the authors report the results of the estimation of a rich dynamic stochastic general equilibrium (DSGE) model of the U.S. economy with both stochastic volatility and parameter drifting in the Taylor rule. They use the results of this estimation to examine the recent monetary history of the United States and to interpret, through this lens, the sources of the rise and fall of the Great Inflation from the late 1960s to the early 1980s and of the Great Moderation of business cycle fluctuations between 1984 and 2007. Their main findings are that, while there is strong evidence of changes in monetary policy during Chairman Paul Volcker's tenure at the Federal Reserve, those changes contributed little to the Great Moderation. Instead, changes in the volatility of structural shocks account for most of it. Also, although the authors find that monetary policy was different under Volcker, they do not find much evidence of a big difference in monetary policy among the tenures of Chairmen Arthur Burns, G. William Miller, and Alan Greenspan. The difference in aggregate outcomes across these periods is attributed to the time-varying volatility of shocks. The history for inflation is more nuanced, as a more vigorous stand against it would have reduced inflation in the 1970s, but not completely eliminated it. In addition, they find that volatile shocks (especially those related to aggregate demand) were important contributors to the Great Inflation.Monetary policy - United States ; Economic conditions - United States

Reading the Recent Monetary History of the U.S., 1959-2007

In this paper we report the results of the estimation of a rich dynamic stochastic general equilibrium (DSGE) model of the U.S. economy with both stochastic volatility and parameter drifting in the Taylor rule. We use the results of this estimation to examine the recent monetary history of the U.S. and to interpret, through this lens, the sources of the rise and fall of the great American inflation from the late 1960s to the early 1980s and of the great moderation of business cycle fluctuations between 1984 and 2007. Our main findings are that while there is strong evidence of changes in monetary policy during Volcker’s tenure at the Fed, those changes contributed little to the great moderation. Instead, changes in the volatility of structural shocks account for most of it. Also, while we find that monetary policy was different under Volcker, we do not find much evidence of a big difference in monetary policy among Burns, Miller, and Greenspan. The difference in aggregate outcomes across these periods is attributed to the time-varying volatility of shocks. The history for inflation is more nuanced, as a more vigorous stand against it would have reduced inflation in the 1970s, but not completely eliminated it. In addition, we find that volatile shocks (especially those related to aggregate demand) were important contributors to the great American inflation.DSGE models, Stochastic volatility, Parameter drifting, Bayesian methods.

Supply-Side Policies and the Zero Lower Bound

This paper examines how supply-side policies may play a role in fighting a low aggregate demand that traps an economy at the zero lower bound (ZLB) of nominal interest rates. Future increases in productivity or reductions in mark-ups triggered by supply-side policies generate a wealth effect that pulls current consumption and output up. Since the economy is at the ZLB, increases in the interest rates do not undo this wealth effect, as we will have in the case outside the ZLB. We illustrate this mechanism with a simple two-period New Keynesian model. We discuss possible objections to this set of policies and the relation of supply-side policies with more conventional monetary and fiscal policies.

Percepción de trayectorias de balones entre los 9 y los 18 años

El trabajo estudia la capacidad de percibir las trayectorias desde la infancia hasta la edad adulta, y como pueden influir en la capacidad de percepción algunas variables como el tipo de deporte practicado, la habilidad y la experiencia en la práctica del fútbol, el sexo del sujeto o el estado de la función visual. La muestra estaba compuesta por 98 chicos y chicas voluntarios, entre 9 y 18 años, con distinta experiencia en la práctica deportiva. Se evaluó la Percepción de las Trayectorias, como combinación de la Precisión y la Anticipación de la toma de la decisión, lanzando balones de fútbol a una zona de caída. El sujeto debía decidir donde iba a caer el balón con la mayor anticipación y precisión posible. El estudio de la muestra revela diferencias significativas en la percepción de las trayectorias en función de la edad, el tipo de deporte practicado y el sexo del sujeto. La percepción de las trayectorias mejora con la edad, es mejor en deportistas con pelota y jugadores de fútbol y fútbol sala, y es mejor en chicos que en chicas. Otras variables como la práctica deportiva total, y la habilidad futbolística parecen estar relacionadas directamente con la eficiencia en la percepción de las trayectorias de pelotas de fútbol

La percepció de les trajectòries de pilotes entre els 9 i els 18 anys

El treball estudia la capacitat de percebre les trajectòries des de la infància fins a l’edat adulta. I de quina manera poden influir en la capacitat de percepció algunes variables com ara el tipus d’esport practicat, l’habilitat i l’experiència en la pràctica del futbol, el sexe del subjecte o l’estat de la funció visual. La mostra estava composta per 98 nois i noies voluntaris, d’entre 9 i 18 anys, amb experiència diversa en la pràctica esportiva. Es va avaluar la Percepció de les Trajectòries, com a combinació de la Precisió i l’Anticipació de la presa de la decisió, llançant pilotes de futbol en una zona de caiguda. El subjecte havia de decidir on cauria la pilota amb el màxim d’anticipació i precisió possible. L’estudi de la mostra revela diferències significatives en la percepció de les trajectòries d’acord amb l’edat, el tipus d’esport practicat i el sexe del subjecte. La percepció de les trajectòries millora amb l’edat, és millor en esportistes amb pilota i jugadors de futbol i futbol sala, i és millor en nois que no pas en noies. D’altres variables, com ara la pràctica esportiva total i l’habilitat futbolística, semblen estar relacionades directament amb l’eficiència en la percepció de les trajectòries de pilotes de futbol