1,338 research outputs found
Exploring the links between tourism and quality of institutions
This paper introduces a new perspective on the impacts of tourism on host communi-ties by analyzing the links between tourism specialization and quality of institutions. Our research has two principal aims: firstly, to test the significance and sign of this relationship; and secondly, to explore the channels through which tourism could affect institutional qual-ity. To this end, an econometric analysis is conducted using a sample of 92 countries over the period 1995-2014. The results indicate that there is a significant and positive associa-tion between tourism specialization and institutional quality. Moreover, this relation can be explained through three main channels: level of income, income inequality, and economic freedom.Este trabajo aporta una nueva perspectiva sobre los impactos del turismo analizando las relaciones entre la especialización turística de un país y la calidad de sus instituciones. La investigación plantea dos objetivos: (1) testar empíricamente la significatividad y signo de dichas relaciones y (2) explorar los canales a través de los que se producen. Realizamos un análisis econométrico para 92 países y 20 años. Los principales resultados indican la existencia de una asociación significativa y positiva entre turismo y calidad institucional que se produce principalmente a través de tres canales: nivel de renta, distribución de la renta y libertad económica
Ethnolinguistic Diversity and Education: a Successful Pairing
The many growing migratory flows render our societies increasingly heterogeneous. From
the point of view of social welfare, achieving all the positive effects of diversity appears as a challenge
for our societies. Nevertheless, while it is true that ethnolinguistic diversity involves costs and
benefits, at a country level it seems that the former are greater than the latter, even more so when
income inequality between ethnic groups is taken into account. In this respect, there is a vast literature
at a macro level that shows that ethnolinguistic fragmentation induces lower income, which leads to
the conclusion that part of the difference in income observed between countries can be attributed to
their different levels of fragmentation. This paper presents primary evidence of the role of education
in mitigating the adverse effects of ethnolinguistic fractionalization on the level of income. While the
results show a negative association between fragmentation and income for all indices of diversity,
the attainment of a certain level of education, especially secondary and tertiary, manages to reverse
the sign of the marginal effect of ethnolinguistic fractionalization on income level. Since current
societies are increasingly diverse, these results could have major economic policy implications
Cournot equilibria for socially responsible firms in an uncertain environment
This paper considers firms which compete under Cournot assumptions and in-
corporate social responsibility to the evaluation of their results. In our model a
socially responsible firm is one which takes into account not only its profits, but also
it internalizes its own share of externality and is sensitive to consumer surplus.
The analysis of the equilibria to which the firms will eventually arrive is ad-
dressed in a framework where the results of the strategic decisions of the firms depend
on a future uncertain event and no information about the probability distribution
is available.En este trabajo se analiza el efecto de la inclusión de objetivos de responsabilidad
social en un modelo de empresas que compiten bajo los supuestos de Cournot. En nuestro
modelo una empresa socialmente responsable es aquella que no solo tiene en cuenta sus
beneficios, sino que también tiene en cuenta las externalidades positivas generadas por el
excedente del consumidor.
El análisis de los equilibrios a los que pueden llegar las empresas se realiza en un
contexto de incertidumbre. Los resultados de las decisiones estratégicas de las empresas
dependen de la realización de un escenario futuro y no se dispone de información sobre
las probabilidades de ocurrencia de los posibles escenarios
Do tolerant societies demand better institutions?
The increasing ethnic heterogeneity that many societies are experiencing could be interpreted as a detrimental phenomenon, since empirical literature exists that indicates that higher levels of ethnic fractionalization induce higher levels of corruption. This paper aims to show the role of tolerance in overcoming this harmful effect of ethnic heterogeneity. To this end, a sample of 86 countries is tested for a positive association between ethnic fractionalization and corruption. It is then shown that tolerance offsets
this effect through both direct and indirect effects on corruption. In order to analyse the
indirect effects, the level of income and the freedom of the press are selected as channels, since these represent two determinants of corruption that are linked to tolerance.
Moreover, tolerance and corruption have been modelled as composites. Consequently,
Partial Least Squares path modelling (PLS-PM) has been used. For our sample, an index of tolerance towards immigrants and people of different race and an index of corruption are constructed, for which several sources are jointly utilised.
Our results appear to indicate that the adverse effect of ethnic fractionalization on corruption is offset by tolerance, which reduces corruption not only directly but also indirectly through the level of income and the freedom of the press
Estimation of soil resistivity by the assembly of a vertical electrical sounding equipment at a university campus at Turbaco, Bolivar
A low-cost geoelectric equipment was implemented for academic purposes to carry out the Vertical Electrical Sounding method in order to determine the resistivity and depth of a point on the surface of a university zone and obtain the contrasts of that resistivity parameter for each type of soil. A model was reproduced at the laboratory to calibrate the equipment, and then the technique was tested in the field. Among the results, layers of sandy loam, soft limestone and dark clay with thicknesses of 0.3 m, 0.75 m and 12 m respectively were obtained, finally a clear clay was obtained whose thickness is unknown. These were compared with reference samples by well drilling method. There was a concordance between the results through the method of statistical confidence intervals with a normal distribution. The data behaved according to a soil model of lower-higher-lower resistivity. © Published under licence by IOP Publishing Ltd
Nominal rigidities, skewness and inflation regimes
The menu-costs model developed by Ball and Mankiw (BM) [Ball, L., Mankiw, N.G., 1994. Asymmetric price adjustment and
economic fluctuations. Economic Journal 104 (423), 247–261; Ball, L., Mankiw, N.G., 1995. Relative-Price Changes as Aggregate
supply shocks. Quarterly Journal of Economics 110 (1), 161–193] predicts that inflation is positively related to the skewness of
price changes distribution. We test this prediction in different inflationary contexts: Spain (1975–2002) and Argentina (1960–1989).
We find a positive inflation–skewness relationship in both countries at low inflation, even though the mean annual inflation rates
were very different: 2.2% for Spain and 23% for Argentina. Therefore, the threshold of low inflation under which the menu-costs
model is suitable is determined endogenously, and it depends on the inflationary experience of each economy. In the higher inflation
periods skewness is not significant. Finally, our results suggest that the menu-costs model is not suitable beyond certain threshold
of inflation
Is 2% the optimal inflation rate for the Euro Area?
According to the relevant literatu
re, monetary policy implications
concerning the optimal inflation rate can be derived by examining the relationship
between inflation and the Relative Price Variability (RPV). This paper studies this
issue for selected Euro Area (EA) countries, using monthly data for the Harmonized
Index of Consumer Prices. In particular, semi-parametric estimations are employed so
as to find the accurate form of the inflation-RPV relationship. The results indicate that
this relationship exhibits a U-shape functional profile. Furthermore, the optimal
inflation rates for the EA, France, Germany and Spain are also calculated. For all
countries and the EA, we find that although the European Central Bank
’
s
“
below but
close to 2 %
”
inflation target is optimal for the EA average, it is not the optimum
inflation rate for the individual counties.Junta de Andalucía SEJ-454
- …