Intellectual property rights and efficient firm organization

I show that intellectual property rights yield static efficiency gains, irrespective oftheir dynamic role in fostering innovation. I develop a property-rights model of firmorganization with two dimensions of non-contractible investment. In equilibrium, thefirst best is attained if and only if ownership of tangible and intangible assets is equallyprotected. If IP rights are weaker, firm structure is distorted and efficiency declines:the entrepreneur must either integrate her suppliers, which prompts a decline in theirinvestment; or else risk their defection, which entails a waste of her human capital. Mymodel predicts greater prevalence of vertical integration where IP rights are weaker,and a switch from integration to outsourcing over the product cycle. Both empiricalpredictions are consistent with evidence on multinational companies. As a normativeimplication, I find that IP rights should be strong but narrowly defined, to protect abusiness without holding up its potential spin-offs.

Quasi-integration in less-than-truckload trucking

This work studies the organization of less-than-truckload trucking from a contractual point of view. We show that the huge number of owner-operators working in the industry hides a much less fragmented reality. Most of those owner-operators are quasi-integrated in higher organizational structures. This hybrid form is generally more efficient than vertical integration because, in the Spanish institutional environment, it lessens serious moral hazard problems, related mainly to the use of the vehicles, and makes it possible to reach economies of scale and density. Empirical evidence suggests that what leads organizations to vertically integrate is not the presence of such economies but hold-up problems, related to the existence of specific assets. Finally, an international comparison hints that institutional constraints are able to explain differences in the evolution of vertical integration across countries.

New ideas need new space

We develop a setting with weak intellectual property rights, where firms' boundaries, location and knowledge spillovers are endogenous. We have two main results. The first one is that, if communication costs increase with distance, entrepreneurs concerned about information leakage have a benefit from locating away from the industry center: distance is an obstacle to collusive trades between members andnon-members. The second result is that we identify a trade-off for the entrepreneur between owning a facility (controlling all its characteristics) and sharing a facility with a {\it non-member} (an agent not involved in production), therefore losing control over some of its characteristics. We focus on ``location" as the relevant characteristic of the facility, but location can be used as a spatial metaphor for other relevant characteristics of the facility. For theentrepreneur, sharing the facility with non-members implies that the latter, as co-owners, know the location (even if they do not have access to it). Knowledge of the location for the co-owners facilitates collusion with employees, what increases leakage. The model yields a benefit for new plants from spatial dispersion (locating at the periphery of the industry), particularly so for new plants of new firms.We relate this result with recent empirical findings on the dynamics of industry location.

Does privatising public service provision reduce accountability?

This paper studies how privatising service provision (shifting control rights and contractualobligations to providers) affects accountability. There are two main effects. (1) Privatisation demotivates governments from investigating and responding to public demands, since providers then hold up service adaptations. (2) Privatisation demotivates the public from mobilising to pressure for service adaptations, since providers then indirectly holdup the public by inflating the government s cost of implementing these adaptations. So, when choosing governance mode, politicians may be biased towards privatising as a way to escape public attention; relatedly, privatising utilities may reduce public pressure and increase consumer prices.

Causes of subcontracting: Evidence from panel data on construction firms

This paper examines factors explaining subcontracting decisions in the construction industry. Rather than the more common cross-sectional analyses, we use panel data to evaluate the influence of all relevant variables. We design and use a new index of the closeness to small numbers situations to estimate the extent of hold-up problems. Results show that as specificity grows, firms tend to subcontract less. The opposite happens when output heterogeneity and the use of intangible assets and capabilities increase. Neither temporary shortage of capacity nor geographical dispersion of activities seem to affect the extent of subcontracting. Finally, proxies for uncertainty do not show any clear effect.

A reusable smart interface for gas sensor resistance measurement

The advances of the semiconductor industry enable microelectromechanical systems sensors, signal conditioning logic and network access to be integrated into a smart sensor node. In this framework, a mixed-mode interface circuit for monolithically integrated gas sensor arrays was developed with high-level design techniques. This interface system includes analog electronics for inspection of up to four sensor arrays and digital logic for smart control and data communication. Although different design methodologies were used in the conception of the complete circuit, high-level synthesis tools and methodologies were crucial in speeding up the whole design cycle, enhancing reusability for future applications and producing a flexible and robust component.

International Equity on Greenhouse Gas Emissions and World Levels: an integrated analysis through distributive welfare indices

Up until now, analyses of the international distribution of pollutant emissions have not paid sufficient attention to the implications that, in terms of social welfare, the combined evolution of the global world average entails. In this context, this paper proposes the use of environmental welfare indices, taken and adapted from the literature on social welfare and inequality, in order to make a comprehensive examination of the international equity factor and the mean factor in this field. The proposed methodology is implemented empirically in order to explore the evolution in distributive-based environmental welfare on a global level for the three main pollutants with greenhouse gas effects: CO2, CH4 and NO, both globally and for selected years during the period of 1990- 2005. The main results found are as follows: firstly, typically, the environmental welfare associated with the overall greenhouse gases decreased significantly over the period, due primarily to the role of CO2; secondly, in contrast, the global welfare associated with CH4 and NO improved; and thirdly, typically, the evolutions can be attributed to a greater extent to the mean component than to the distributive component, although there are exceptions. These results would seem to be relevant in policy terms. JEL codes: D39; Q43; Q56. Keywords: environmental welfare: greenhouse gases; environmental equity.

Unconventional Determinants of Greenhouse Gas Emissions: The Role of Trust

[cat] Les normes socials han estat incloses en la teoria de l’acció col.lectiva per a superar les dificultats per explicar perquè la gestió del béns comuns podria ser més efectiva quan s’autoregula per les mateixes comunitats. El paper rellevant de la confiança en els altres s’ha identificat en diversos contextos d’acció social a nivell local, però només recentment s’ha considerat la idea que també podria ser rellevant en el cas de béns comuns de caire global, seguint l’evidència bàsicament descriptiva recollida per Elinor Ostrom. Però fins ara no hi havia proves quantitatives disponibles d’aquesta idea. Utilitzant un conjunt de dades de 29 països europeus durant el període 1990-2007, donem evidència empírica a favor del paper del nivell de confiança en els altres en el context dels béns públics globals. Concloem que el nivell de confiança en els altres té un impacte reductor de les emissions de gasos d’efecte hivernacle; per exemple, l’extrapolació dels resultats implicaria una reducció d’emissions d’Espanya del 12,5% si el nivell mitjà de confiança en els altres dels espanyols fos tan elevat com els dels suecs.

Unconventional Determinants of Greenhouse Gas Emissions: The Role of Trust

[cat] Les normes socials han estat incloses en la teoria de l’acció col.lectiva per a superar les dificultats per explicar perquè la gestió del béns comuns podria ser més efectiva quan s’autoregula per les mateixes comunitats. El paper rellevant de la confiança en els altres s’ha identificat en diversos contextos d’acció social a nivell local, però només recentment s’ha considerat la idea que també podria ser rellevant en el cas de béns comuns de caire global, seguint l’evidència bàsicament descriptiva recollida per Elinor Ostrom. Però fins ara no hi havia proves quantitatives disponibles d’aquesta idea. Utilitzant un conjunt de dades de 29 països europeus durant el període 1990-2007, donem evidència empírica a favor del paper del nivell de confiança en els altres en el context dels béns públics globals. Concloem que el nivell de confiança en els altres té un impacte reductor de les emissions de gasos d’efecte hivernacle; per exemple, l’extrapolació dels resultats implicaria una reducció d’emissions d’Espanya del 12,5% si el nivell mitjà de confiança en els altres dels espanyols fos tan elevat com els dels suecs.

Composition of Greenhouse Gas Emissions in Spain: an Input-Output Analysis

Extending the traditional input-output model to account for the environmental impacts of production processes reveals the channels by which environmental burdens are transmitted throughout the economy. In particular, the environmental input-output approach is a useful technique for quantifying the changes in the levels of greenhouse emissions caused by changes in the final demand for production activities. The inputoutput model can also be used to determine the changes in the relative composition of greenhouse gas emissions due to exogenous inflows. In this paper we describe a method for evaluating how the exogenous changes in sectorial demand, such as changes in private consumption, public consumption, investment and exports, affect the relative contribution of the six major greenhouse gases regulated by the Kyoto Protocol to total greenhouse emissions. The empirical application is for Spain, and the economic and environmental data are for the year 2000. Our results show that there are significant differences in the effects of different sectors on the composition of greenhouse emissions. Therefore, the final impact on the relative contribution of pollutants will basically depend on the activity that receives the exogenous shock in final demand, because there are considerable differences in the way, and the extent to which, individual activities affect the relative composition of greenhouse gas emissions. Keywords: Greenhouse emissions, composition of emissions, sectorial demand, exogenous shock.

The Determinants of Entry are not Independent of Start-up Size: Some evidence from Spanish manufacturing

In this paper we explore the determinants of firm start-up size of Spanish manufacturing industries. The industries' barriers to entry affect the ability of potential entrants to enter the markets and the size range at which they decide to enter. In order to examine the relationships between barriers to entry and size we applied the quantile regression techniques. Our results indicate that the variables that characterize the structure of the market, the variables that are related to the behaviour of the incumbent firms and the rate of growth of the industries generate different barriers depending on the initial size of the entrants. Keywords: Entry, regression quantiles, start-up size. JEL classification: L110, L600

Growth, habit formation, and catching-up\ with the Joneses

When habits are introduced multiplicatively in a capital accumulation model, the consumers' objective function might fail to be concave. In this paper we provide conditions aimed at guaranteeing the existence of interior solutions to the consumers' problem. We also characterize the equilibrium path of two growth models with multiplicative habits: the internal habit formation model, where individual habits coincide with own past consumption, and the external habit formation (or catching-up with the Joneses) model, where habits arise from the average past consumption in the economy. We show that the introduction of external habits makes the equilibrium path inefficient during the transition towards the balanced growth path. We characterize in this context the optimal tax policy.

Assessment of current anglo-saxon proposals about criminal justice and the justification of legal punishment: Moore, Duff and Finnis on retribution, and the challenging compatibility with the up-and-coming Restorative Justice

Pendent

Trade of permits for greenhouse gas emissions; bilateral trade need not be the answer

The Kyoto Protocol sets national quotas on CO2 emissions and allows international trade of these quotas. We argue that this trade is characterized by asymmetric, identity-dependent externalities, and show that bilateral trade may not be sufficient for an efficient allocation of emissions. We derive conditions under which bilateral trade does improve the allocation of permits. The conditions are strong. In this sense, we argue that, for emissions permits, market design matters.

A classification, up to hyperbolicity, of groups given by 2 generators and one relator of length 8

"Vegeu el resum a l'inici del document del fitxer adjunt."