GMM estimation of a production function with panel data : an application to Spanish manufacturing firms

In this paper we consider the estimation of a Cobb-Douglas production function using a panel dataset of Spanish manufacturing firms. As it is stressed in the econometric literature, the use of standard GMM first differences estimators to eliminate the unobserved firm-specific effects may yield imprecise estimates, particularly in the case of the estimation of the production function. The reason is that the high persistence of output and inputs involved in the estimation of production functions make that their lagged levels to be weak instruments for the first differences of these series. The extended GMM estimator proposed by Arellano and Bover (1995) considers further orthogonality conditions based on lagged differences as instruments for the equation in levels. This approach has been applied to the estimation of technological parameters by Blundell and Bond (1999). Our estimation results, based on this approach, confirm the better performance of the extended GMM estimator compared to the standard first-differenced GMM estimato

Una aproximación crítica a las tasas judiciales desde el derecho financiero y tributario

El presente trabajo examina la implantación de las nuevas tasas judiciales tras la aprobación de la Ley 10/2012 (y su posterior reforma). El autor realiza un análisis crítico desde el ámbito del derecho financiero y tributario. En particular, se centra en la finalidad declarada de la medida adoptada, así como en los lesivos efectos que puede tener sobre los usuarios del sistema judicialThis work examines the implementation of the new court fees, as a result of the Act 10/2012 (and its recent amendment). The author undertakes a critical analysis from the perspective of tax and budgetary law. In particular, he focuses on the alleged purpose of this measure, as well as the potential harmful effects on users of the justice syste

A Temporal Logic for Hyperproperties

Hyperproperties, as introduced by Clarkson and Schneider, characterize the correctness of a computer program as a condition on its set of computation paths. Standard temporal logics can only refer to a single path at a time, and therefore cannot express many hyperproperties of interest, including noninterference and other important properties in security and coding theory. In this paper, we investigate an extension of temporal logic with explicit path variables. We show that the quantification over paths naturally subsumes other extensions of temporal logic with operators for information flow and knowledge. The model checking problem for temporal logic with path quantification is decidable. For alternation depth 1, the complexity is PSPACE in the length of the formula and NLOGSPACE in the size of the system, as for linear-time temporal logic

GMM ESTIMATION OF A PRODUCTION FUNCTION WITH PANEL DATA: AN APPLICATION TO SPANISH MANUFACTURING FIRMS

In this paper we consider the estimation of a Cobb-Douglas production function using a panel dataset of Spanish manufacturing firms. As it is stressed in the econometric literature, the use of standard GMM first differences estimators to eliminate the unobserved firm-specific effects may yield imprecise estimates, particularly in the case of the estimation of the production function. The reason is that the high persistence of output and inputs involved in the estimation of production functions make that their lagged levels to be weak instruments for the first differences of these series. The extended GMM estimator proposed by Arellano and Bover (1995) considers further orthogonality conditions based on lagged differences as instruments for the equation in levels. This approach has been applied to the estimation of technological parameters by Blundell and Bond (1999). Our estimation results, based on this approach, confirm the better performance of the extended GMM estimator compared to the standard first-differenced GMM estimator

Study of Negative effects of Traffic Localization

Català: Les xarxes P2P s'han convertit en una important xarxa per usuaris i ISP. Els usuaris volen compartir i aprofitar aquestes noves xarxes. D'altra banda, els ISP no volen que els usuaris utilitzin de manera tan intensa les seves connexions a Internet. Això causa que els seus beneficis es redueixin. La localització de tràfic ha estat anunciat com una solució per als inconvenients del P2P. Redueix el tràfic intercanviat entre els usuaris fent clúster. Només uns pocs usuaris d'un cluster intercanviaren dades amb altres xarxes. Hi ha diversos estudis que mostren els beneficis d'aquesta mesura, però no hi ha massa estudis sobre els efectes negatius. En el nostre treball hem tractat de simular una xarxa BitTorrent. Un cop tinguem aquesta xarxa preparada simularem una xarxa que utilitzi tècniques de localització de trànsit. Fent diverses simulacions volem demostrar com la localització de trànsit afecta l'experiència dels usuaris.Castellano: Las redes P2P se han convertido en una importante red para usuarios e ISP. Los usuarios quieren compartir y aprovechar estas nuevas redes. Por otra parte, los ISP no les interesa que los usuarios utilicen de manera tan intensa sus conexiones. Esto es debido a que sus beneficios se ven reducidos. La localización de tráfico ha sido anunciada como una de las mejores soluciones para los inconvenientes del P2P. Reduce el tráfico intercambiado entre los usuarios lejanos o de diferentes redes haciendo clúster. Sólo unos pocos usuarios de un clúster van a intercambiar datos con otros usuarios de otras redes. Hay varios estudios que indican los beneficios de esta medida, pero no hay demasiados estudios acerca de los efectos negativos. En nuestro trabajo hemos tratado de simular una red BitTorrent. Una vez que tengamos esta red lista simularemos una red P2P con alguna técnica de localización de tráfico. Haciendo varias simulaciones queremos demostrar cómo la localización de tráfico afecta a la experiencia de los usuarios.English: P2P networks has become one important network for users and ISP. Users wants to share and take profit of this new networks. On the other hand, ISP don not want users' to use so intensively their internet connections because their profits are being reduced. Traffic Localization has been announced as a solution for P2P disadvantages. It reduces the traffic exchanged between users making cluster. Only a few users from one cluster are going to change data to other networks. There are several studies that indicates the benefits of this measure but there are not too much studies about negative effects. In our work we tried to simulate a BitTorrent network. Once we have this network ready we constructed it making clusters simulating some Traffic Localization technique. Making several simulations we want to prove how traffic localization affects users' experience