Analysis of volatility transmissions in integrated and interconnected markets: The case of the Iberian and French markets

This paper models the mean and volatility spillovers of prices within the integrated Iberian and the interconnected Spanish and French electricity markets. Using the constant (CCC) and dynamic conditional correlation (DCC) bivariate models with three different specifications of the univariate variance processes, we study the extent to which increasing interconnection and harmonization in regulation have favoured price convergence. The data consist of daily prices calculated as the arithmetic mean of the hourly prices over a span from July 1st 2007 until February 29th 2012. The DCC model in which the variances of the univariate processes are specified with a VARMA(1,1) fits the data best for the integrated MIBEL whereas a CCC model with a GARCH(1,1) specification for the univariate variance processes is selected to model the price series in Spain and France. Results show that there are significant mean and volatility spillovers in the MIBEL, indicating strong interdependence between the two markets, while there is a weaker evidence of integration between the Spanish and French markets. We provide new evidence that the EU target of achieving a single electricity market largely depends on increasing trade between countries and homogeneous rules of market functioning.

¿Vascos o euskaldunak?: una aproximación al papel del Euskara en la conformación de las Colectividades vascas de América, siglo XIX

[ES] El artículo se centra en el papel jugado por la lengua vasca, el euskara,en el proceso de creación e institucionalización de las colectividades vascas creadas a lo largo del siglo XIX y comienzos del XX en diversos países americanos a los que se dirigieron preferentemente los emigrantes vascos. En todos los casos, las colectividades vascas que se crearon integraban a originarios de todos los territorios tradicionales de Euskal Herria, tanto de las actuales Comunidades autónomas vasca y navarra en España, como del País Vasco-francés. En este proceso el euskara jugó un doble papel,práctico y simbólico, que posibilitó la asunción por parte de los emigrantes vascos,y de la sociedad que los acogió, de una identidad común por encima de otras divisiones basadas en la nacionalidad política o la diversidad ideológica.

Incorporating American Dreams into Australian Stories: Political Erasure and cultural transference in film adaptations of Australian Literary Classics

Eterio Pajares, Raquel Merino y José Miguel Santamaría (eds.)

La Guerra de la Convención, la separación de Guipúzcoa y los comerciantes vasco-franceses y bearneses

[ES] El intento de separación de Guipúzcoa de la Corona española durante la Guerra de la Convención (1793-1795) es un asunto en el que se vio implicado un numeroso grupo de comerciantes vascofranceses y bearneses, residentes en San Sebastián desde hacía tiempo. Los estudiosos han explicado su impli- cación desde parámetros ideológicos y políticos. Sin embargo, existió tam- bién un componente económico y familiar, que tuvo más peso que el resto de factores. Es precisamente este componente el objeto de estudio del presente artículo.

Economic Efficiency, Environmental Effectiveness and Political Feasibility of Energy Efficiency Rebates: The Case of the Spanish Energy Efficiency 'Renove' Plan

29 p.

From social to political. New forms of mobilization and democratization. Conference proceedings

In the recent evolution of contemporary social movements three phases can be identified. The first phase is marked by the labour movement and the systemic importance attributed to the labour conflict in industrial societies. This conflict has been interpreted as a consequence of the shortcoming of social integration mechanisms by Emile Durkheim, as a rational conflict by entrepreneurs’ and workers’ interests by Max Wener, and as a central class struggle for the transformation of society by Karl Marx. The second phase in this development was led by the new social movements of the post-industrial society of the 1960s and 1970s’ students, women and environmentalist movements. Two new analytical perspectives have explained these movements’ meaning and actions. Resource mobilization theory (McAdam and Tilly) has focuses on rational attitudes and conflicts. Actionalist sociology, in turn, has identified the new protagonists of social conflicts that replaced the labour movement in postindustrial societies. The third phase emerges in a world characterized by the ascendance of markets, the increasingly prominent role of financial capital flows, the closure of communities, and fundamentalism. In this context, human rights and pro-democratization movements constitute alternatives to global domination and the systemic conditioning of individual and groups.

Political Institutions, Technology and Growth: a dynamic panel approach

This paper investigates whether the effect of political institutions on sectoral economic performance is determined by the level of technological development of industries. Building on previous studies on the linkages among political institutions, technology and economic growth, we employ the dynamic panel Generalized Method of Moments (GMM) estimator for a sample of 4,134 country-industries from 61 industries and 89 countries over the 1990-2010 period. Our main findings suggest that changes of political institutions towards higher levels of democracy, political rights and civil liberties enhance economic growth in technologically developed industries. On the contrary, the same institutional changes might retard economic growth of those industries that are below a technological development threshold. Overall, these results give evidence of a technologically conditioned nature of political institutions to be growth-promoting.