Land markets and agrarian backwardness (Spain, 1900-1936)

To what extent were land markets the cause of Spanish agrarian backwardness? This paper uses new provincial data on average real land prices, together with provincial level variation in land productivity, to analyse land markets efficiency. To address this unresolved issue, we test whether land markets were spatially integrated and whether their prices can be explained with the present value model. Our results suggest that land prices converged across provinces and that variations were driven by fundamentals. In consequence, we conclude that institutional failure in land markets was not the cause of the relatively poor productivity performance of Spanish agricultureLand prices determinants, Price convergence, Panel unit-roots, Present value model

Was land reform necessary? : access to land in Spain, 1860 to 1931.

In Spain, land reform involving the break-up of large southern estates was a central issue during the first decades of the twentieth century. It was justified on the grounds of economic efficiency, social equity and the distribution of political power. This paper uses new provincial data on landless workers, land prices and agrarian wages to consider if government intervention was desirable because land redistribution did not take place. Our evidence shows that the relative amount of landless workers decreased largely from 1890 to 1930. This was due to two interrelated market forces: structural change that drained rural population and a decrease in the ratio between land prices and rural wages, which made land cheaper for landless workers. So, given that rural markets did not restrict access to land, the government-initiated land redistribution had no clear-cut justification.Land markets; Structural change; Land prices; Landless peasants;

Spanish housing markets during the first phase of the rural-urban transition process

This paper discusses how Spain’s housing markets reacted to the far-reaching changes that affected the demand for dwellings during the first phase of the rural-urban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional panel dataset of price fundamentals. The results of our econometric analysis suggest that housing markets did not face supply constraints, responded swiftly to the growing demand for accommodation and were efficient. In light of this new evidence, we conclude that housing markets were not a burden for Spanish economic development and that Spain’s institutional and regulatory frameworks were suitable for the housing needs at the time.Hedonic prices, Demand and supply of housing, Regulation in housing markets

Spanish housing markets during the first phase of the rural-urban transition process

This paper discusses how Spain’s housing markets reacted to the far-reaching changes that affected the demand for dwellings during the first phase of the rural-urban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional panel dataset of price fundamentals. The results of our econometric analysis suggest that housing markets did not face supply constraints, responded swiftly to the growing demand for accommodation and were efficient. In light of this new evidence, we conclude that housing markets were not a burden for Spanish economic development and that Spain’s institutional and regulatory frameworks were suitable for the housing needs at the time

Housing affordability during the urban transition in Spain

During the decades previous to the Civil War, Spain experienced a rapid process of urbanization, which was accompanied by the demographic transition and sizeable rural-urban migrations. This article investigates how urban housing markets reacted to these far-reaching changes that increased demand for dwellings. To this end, we employ a new hedonic index of real housing prices and construct a cross-regional panel dataset of rents and housing price fundamentals. This new evidence indicates that rents were not a significant financial burden on low-income families and, hence, housing was affordable for working classes. Also, we show that families' access to new homes was facilitated by a sizable growth of housing supply. Substantial investments in urban infrastructure and the institutional framework enabled the construction of new homes at affordable prices. Our results suggest that housing problems were not pervasive during the urban transition as the literature often seems to claim.Financial support was received by the Spanish Ministry of Economy and Competitiveness projects: 2013/00066/001 (Juan Carmona), ECO2011-25713 (Markus Lampe) and ECO2012-39169-C03-01 (Joan R. Rosés)

Spanish housing markets, 1904-1934: new evidence

This article makes the first systematic attempt to analyse quantitativelythe evolution of Spanish housing markets from 1904 to 1934, a period ofdramatic changes in housing demand as a consequence of substantialincome and demographic growth. In order to do so, we collect a newdatabase on houses sold and their prices using data from the Registrar'sYearbooks. Furthermore, we construct a new hedonic index of real housingprices for Spain and its provinces. To our surprise, we found that realhousing prices rose slightly over the entire period and, hence, that housingsupply responded effectively to new demand for housing.Este artículo realiza el primer intento sistemático de analizar cuantitativamente la evolución del mercado de la vivienda en España desde 1904 a 1934, un periodo donde se experimentaron cambios dramáticos en la demanda de vivienda como consecuencia del notable crecimiento económico y demográfico. Para realizar este nuevo análisis, los autores han reunido una nueva base de datos con información procedente de los anuarios de los registradores de la propiedad. Además han construido un nuevo índice de precios hedónicos de la vivienda para el conjunto del país y sus provincias. De manera sorprendente, la nueva evidencia indica que los precios reales de la vivienda aumentaron solo ligeramente durante el periodo y que, en consecuencia, la oferta de vivienda respondió de manera efectiva a la nueva demanda

Housing markets during the rural-urban transition : evidence from early 20th century Spain

This paper discusses how Spain’s urban housing markets reacted to the farreaching changes that affected the demand for dwellings during the first phase of the rural-urban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional panel dataset of price fundamentals. The results of our econometric analysis suggest that urban housing markets did not face supply constraints and responded swiftly to the growing demand for accommodation. In light of this new evidence, we conclude that housing markets were not a burden for Spanish economic development and that Spain’s urban infrastructure and institutional framework and were suitable for the housing needs at the timeThe authors acknowledge financial support from the Spanish Ministry of Science and Innovation projects “Consolidating Economics” within the Consolider-Ingenio 2010 Program. Rosés also acknowledges support from the project ECO2009-13331-C02-01. Lampe thanks project ECO2011-25713

Nuevos datos sobre la estructura general del Carbonífero en el Horst de La Camocha (Gijón, Asturias).

Una reciente campaña de investigación geológico-minera, mediante la realización de transversales de reconocimiento, sondeos de superficie e interior y perfiles sísmicos de reflexión, ha permitido profundizar en el conocimiento de la estructura del Carbonífero en el entorno de Mina La Camocha. En esta zona, al sur de Gijón, los materiales carboníferos, cubiertos por una cobertera permotriásica y jurásica, no afloran. Se precisa el estilo de plegamiento, analizándose y datándose las principales familias de fracturación. El estilo tectónico de los materiales carboníferos productivos no aflorantes, se ilustra mediante varios de los nuevos cortes obtenidos

The echocardiography diagnosis of cor pulmonale in a horse

The authors describe the two-dimensional and Doppler signs that characterize the pulmonary hypertension caused by chronic obstructive pulmonary disease (COPD) in a horse