Building TRACE (translations censored) theatre corpus: some methodological questions on text selection

Editores:Micaela Muñoz-Calvo; Carmen Buesa-Gómez

Choice of Flexible Production Technologies Under Strategic Delegation

This work analyzes a managerial delegation model in which firms can choose between a flexible production technology which allows them to produce two different products and a dedicated production technology which limits production to only one product. We analyze whether the incentives to adopt the flexible technology are smaller or greater in a managerial delegation model than under strict profit maximization. We obtain that the asymmetric equilibrium in which only one firm adopts the flexible technology can be sustained under strategic delegation but not under strict profit maximization when products are substitutes. We extend the analysis to consider welfare implications.

Cost-Saving production technologies and strategic delegation

This work analyzes a managerial delegation model in which firms that produce a differentiated good can choose between two production technologies: a low marginal cost technology and a high marginal cost technology. For the former to be adopted more investment is needed than for the latter. By giving managers of firms an incentive scheme based on a linear combination of profit and sales revenue, we find that Bertrand competition provides a stronger incentive to adopt the cost-saving technology than the strict profit maximization case. However, the results may be reversed under Cournot competition. We show that if the degree of product substitutability is sufficiently low (high), the incentive to adopt the cost-saving technology is larger under strict profit maximization (strategic delegation).

On the Informational Role of Term Structure in the U.S. Monetary Policy Rule

This paper uses a structural approach based on the indirect inference principle to estimate a standard version of the new Keynesian monetary (NKM) model augmented with term structure using both revised and real-time data. The estimation results show that the term spread and policy inertia are both important determinants of the U.S. estimated monetary policy rule whereas the persistence of shocks plays a small but significant role when revised and real-time data of output and inflation are both considered. More importantly, the relative importance of term spread and persistent shocks in the policy rule and the shock transmission mechanism drastically change when it is taken into account that real-time data are not well behaved.

Dynamic Inefficiency in an Overlapping Generation Economy with Pollution and Health Costs

Revised 2008-08.-- Published as an article in: Journal of Public Economic Theory (2008), 10(4), 563-594.

Term Structure and the Estimated Monetary Policy Rule in the Eurozone

Published as an article in: Spanish Economic Review, 2008, vol. 10, issue 4, pages 251-277.

The role of the term spread in an augmented Taylor rule: An empirical investigation

Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of an augmented version of the Taylor rule (ATR) that (i) allows for the presence of switching regimes, (ii) considers the long-short term spread in addition to the typical variables, (iii) uses an alternative monthly indicator of general economic activity suggested by Stock and Watson (1999), and (iv) considers interest rate smoothing. The estimation results show the existence of switching regimes, one characterized by low volatility and the other by high volatility. Moreover, the scale of the responses of the Federal funds rate to movements in the term spread, inflation and the economic activity index depend on the regime. The estimation results also show robust empirical evidence that the ATR has been more stable during the term of office of Chairman Greenspan than in the pre-Greenspan period. However, a closer look at the Greenspan period shows the existence of two alternative regimes and that the response of the Fed funds rate to inflation has not been significant during this period once the term spread is considered.

Innovative reaction systems for acetal (1,1 diethoxy butane) production from renewable sources

370 p.: il., graf.

The reverse self-dual serial cost-sharing rule

In this study we define a cost sharing rule for cost sharing problems. This rule is related to the serial cost-sharing rule defined by Moulin and Shenker (1992). We give some formulas and axiomatic characterizations for the new rule. The axiomatic characterizations are related to some previous ones provided by Moulin and Shenker (1994) and Albizuri (2010).

Breed effect on quality veal production in mountain areas: Emphasis on meat

This study was designed to compare the quality of veal produced from ‘Tudanca x Charolais’ cross (n=6) and Limousin (n=6) breeds when allowed to feed freely on mountain pastures and suckle naturally from birth to 7 months of age. After 80 days of age calves also had access to concentrate (maximum of 3 Kg/day), while mothers did not. At slaughter, Limousin calves were heavier (P<0.01) and provided better carcass yield (P<0.05) and conformation (P<0.001) than Tudanca calves. Tudanca beef provided higher fat content (P<0.05) was less tough (P<0.05), and was scored as more tender and juicy (P<0.1) with higher acceptability than Limousin beef (P<0.1). In general, Tudanca had a better fatty acid profile than Limousin beef, especially in terms of the content of polyunsaturated (P<0.05), long-chain polyunsaturated fatty acids (P<0.05) and their n-6/n-3 ratios (P<0.1), as well as vaccenic acid (P<0.1) and the overall trans-18:1 isomer profile.