Assessing the role of Spain's AIReF in the context of EU fiscal policy

The work of the AIReF has helped to support progress on budget stability and, by ncreasing the reputational costs of non-complying public administrations, it has enhanced fiscal governance in Spain. Going forward, among addressing other challenges, the AIReF should strive to preserve its independence

Gasto público en I+D+i en España: análisis y propuestas

Este trabajo analiza la evolución del gasto público en I+D+i en España desde 2005. En términos agregados y en comparación con las principales economías de la UE, la financiación pública de la I+D en España ha oscilado de forma muy pronunciada y el sistema público sufre problemas de competitividad para captar recursos ajenos. En cuanto al análisis del gasto por CC.AA., se distingue entre inversión pública y privada. No se encuentran muestras de que las CC.AA. converjan entre sí en inversión en I+D pública mientras que, en cambio, hay indicios de que la I+D privada se está polarizando. A partir de este diagnóstico, el trabajo revisa algunas de las mejores prácticas internacionales y realiza propuestas de reforma del sistema español de I+D+i

Institutional reforms to integrate regulation and competition policy : economic analysis, international perspectives, and the case of the CNMC in Spain

We review the related academic literature and the international evidence on the institutions of regulation and competition policy, to analyze the creation in 2013 of the new macro regulator in Spain, the CNMC. The institutional reform merged the competition policy authority with virtually all sector regulators with the exception of the financial regulator. The aim of the paper is to assess the extent to which the Spanish reform follows international best practices as well as how it fits within the analysis found in the academic literature. Although there is not a universally superior approach, neither in practice nor in theory, important shortcomings remain with the model that was finally adopted in Spain. Some institutional diversity would facilitate an optimal level of regulatory independence and governmental coordination for each sector, and ultimately achieving better results in terms of consumer welfare

Los primeros años de actividad de la AIReF en el contexto del marco fiscal de la Unión Europea

El presente artículo estudia el papel que la Autoridad Independiente de Responsabilidad Fiscal (AIReF) ha tenido para consolidar la disciplina fiscal y la sostenibilidad de las finanzas públicas en España en el contexto del marco fiscal de la Unión Europea (UE). En primer lugar, se sitúan los términos principales del debate sobre los marcos fiscales en la UE. A continuación, a partir del análisis de las mejores prácticas internacionales de las instituciones fiscales independientes (IFI), se presentan tres de las principales dimensiones que determinan su efectividad: independencia, potencia comunicativa, y compromiso del poder ejecutivo con el mandato de la IFI y con la responsabilidad fiscal. Sobre esta base, se revisan los primeros años de actividad de la AIReF. Por un lado, se analizan las recomendaciones que ha emitido el organismo entre 2014 y 2016 y, por otro, se extraen los mensajes más importantes del reciente informe de evaluación de la AIReF promovido por la OCDE. La conclusión de este informe es que, en sus primeros años de funcionamiento, la AIReF ha construido una sólida reputación de independencia y credibilidad, contribuyendo a fortalecer la estabilidad presupuestaria en España y en la Unión Europea

International Risk Analysis: Firms in international business and trade. Academic year 2013-14

International business is the study of transactions taking place across national borders for the purpose of satisfying the needs of individuals and organizations. These economic transactions consist of trade, as in the case of exporting, importing and direct investment of funds in overseas operations. This note includes a basic introduction to: International Trade; Foreign Direct Investment; International Business; and the Multinational Enterpise

International Risk Analysis: Globalization views. Academic year 2013-14

This teaching note covers the contrasting views from leading experts on globalization. The main authors and books covered are: Thomas Friedman, "The World is Flat"; Pankaj Ghemawhat, "World 3.0", Dani Rodrik, "The Globalization Paradox"; and Daron Acemoglu and James Robinson, "Why Nations Fail"

International Risk Analysis: Political risk and country risk. Academic year 2013-14

The first step in creating an effective risk management system is to understand the qualitative distinctions among the types of risks that organizations face. According to Kaplan and Mikes (2012), risks fall into one of the three categories: preventable risks, strategy risks and external risks. This notes builds on this three types of risk to present a panoramic view of risk analysis

Business Organization: Main concepts. Academic year 2012-13

This teaching note summarizes the main issues regaring the core contents of the Business Organization course. For each topic, the note produces a list of key messages and ideas to retain. The topics covered are the following: Markets, organizations and knowledge; Incentive conflicets and contracts; Economics of strategy; Vertical Integration and Outsourcing; Organizational Architecture and the Level of Empowerment; Incentive Compensation and Performance Evaluation; Ethics and Organizational Architecture and Corporate Governance

International Risk Analysis: Firms in international business and trade. Academic year 2013-14

International business is the study of transactions taking place across national borders for the purpose of satisfying the needs of individuals and organizations. These economic transactions consist of trade, as in the case of exporting, importing and direct investment of funds in overseas operations. This note includes a basic introduction to: International Trade; Foreign Direct Investment; International Business; and the Multinational Enterpise

Business Organization: Main concepts. Academic year 2012-13

This teaching note summarizes the main issues regaring the core contents of the Business Organization course. For each topic, the note produces a list of key messages and ideas to retain. The topics covered are the following: Markets, organizations and knowledge; Incentive conflicets and contracts; Economics of strategy; Vertical Integration and Outsourcing; Organizational Architecture and the Level of Empowerment; Incentive Compensation and Performance Evaluation; Ethics and Organizational Architecture and Corporate Governance