(No)competition in the Spanish retailing gasoline market: a variance filter approach

Various methodologies in economic literature have been used to analyse the international hydrocarbon retail sector. Nevertheless at a Spanish level these studies are much more recent and most conclude that generally there is no effective competition present in this market, regardless of the approach used. In this paper, in order to analyse the price levels in the Spanish petrol market, our starting hypothesis is that in uncompetitive markets the prices are higher and the standard deviation is lower. We use weekly retail petrol price data from the ten biggest Spanish cities, and apply Markov chains to fill the missing values for petrol 95 and diesel, and we also employ a variance filter. We conclude that this market demonstrates reduced price dispersion, regardless of brand or city.

Spanish pension system: population aging and immigration policy

There is a widespread consensus in the literature that, as consequence of the demographic transition, the current Spanish pension system will become unsustainable in the next decades. In this article we evaluate the sustainability of the contributory pensions' sub-system, taking into account the demographic projections by the Spanish Statistical Office (INE). A baseline scenario is projected as well as several reforms are simulated, focusing on: (i) selective immigration policy, (ii) changes in the way of setting the pensions and (iii) increase of the legal age of retirement up to 68. The main results are the following. The current system would not incur deficits until 2018, from then deficits will begin to be accumulated. The expenditure in pensions practically would double (from 8.3 % in 2005 to 17.2 % in 2050). A selective immigration policy -towards foreign young people- would help, but does not solve the long-term sustainability of the current system. A policy that combines a pensions' growth at a pace lower than productivity growth and extends the legal age of retirement up to 68 would give solvency to the system beyond 2029

Agronomic and commercial performance of four Spanish carob cultivars

The carob tree (Ceratonia siliqua) shows interesting prospects for some coastal Mediterranean growing areas and is widely used for industrial, agricultural, and ornamental purposes. It can be an alternative crop adapted to part-time farming and can also be used to regenerate vegetation in areas with a mild climate and erosion problems. Four Spanish carob cultivars were examined (Banya de Cabra, Duraio, Matalafera, and Rojal) to determine the one that performed the best for planting new orchards in northeastern Spain (Catalonia). The trees in this rain-fed trial (average rainfall of 500 mm) were planted in 1986 using seedling rootstocks that were budded in 1987. The trees were trained using the free-vase system and were spaced 8 x 9 m (138 trees/ha including 12% pollinators). The results showed that ‘Rojal’ was the earliest bearing cultivar. However, no significant differences were observed for cumulative pod production 18 years after budding. With respect to cumulative seed yield, ‘Duraio’ had the highest production (95 kg/tree). The lowest tree vigor (trunk cross-section) was observed in ‘Matalafera’. ‘Rojal’ trees produced the largest pods (average fruit weight of 18.9 g) and lowest seed content (11.8%), while ‘Banya de Cabra’ and ‘Duraio’ produced the smallest fruit (weighing 15.3 and 16.2 g, respectively) with the highest seed content (15.2% and 17.3%, respectively). Gum content, expressed as a percentage of the dry weight, was highest in ‘Duraio’ (56.9%) and was lowest in ‘Rojal’ (54.1%). Thus, in terms of kernel and pod production, ‘Duraio’ appeared to be the best-performing female cultivar for planting new carob orchards

Women at home, at school and in the factory. The particular discourse of domesticity done by the Spanish Escuela Economista (1861-1909)

The texts by the Spanish Economist School (second half of the 19th century) contain an assessment of the role of women in the economy and society that is transgressor in front of the prevailing discourse that defended a unique and exclusive role for all women: being at home and a mother. Most members of that economic trend defended female work in the factories, basing themselves on wage arguments and even asked for a professional training for those who in many cases could not even write and read for the fact of being a woman. The texts of those economists give new ideas about the economic and social role of women in a Spain dominated by a discourse that denied the necessity of female work for the working families.

Devolution dynamics of Spanish local government

Over the last few years, ther has been a devolutionary tendency in many developed and developing countries. In this article we propose a methodology to decompose whether the benefits in terms of effciency derived from transfers of powers from higher to municipal levels of government "the "economic dividend" of devolution) might increase over time. This methodology is based on linear programming approaches for effciency measurement. We provide anapplication to Spanish municipalities, which have had to adapt to both the European Stability and Growth Pact as well as to domestic regulation seeking local governments balanced budget. Results indicate that efficiency gains from enhaced decentralization have increased over time. However, the way through which these gains accrue differs across municipalities -in some cases technical change is the main component, whereas in others catching up dominates.

Heterogeneity across immigrants in the Spanish labour

The purpose of this paper is to analyze the diferences that immigrants have in the Spanish labour market. Immigrants in Spain come from a diversity of continents (Africa, South America, Eastern Europe, Asia, etc.), and there are substantial diferences in characteristics not only among continents but also among countries in each continent. Using a quantile regression method of decomposition we estimate these diferences that are reflected in the labour market and in particular are mirrored in the wage, so some immigrants are more discriminated or segregated that others because they have less advantage. For example Argentineans and Peruvians have the same origin and culture but we can find diferences in the wage that they receive in the Spanish labor market, or for example Moroccans have a advantage with respect to the Rest of Africans, due to the geographical proximity to Spain. So when we study the pay gap and the gender pay gap we need to take into consideration the origin of immigrants. We also want to study how the integration of immigrants evolved across years, whether the wage gap that we find in the first episode of work between immigrants and natives disappears or continues to be present in the Spain labour market.

Testing, not modelling, the impact of cohesion support: a theoretical framework and some preliminary results for the Spanish regions

This paper develops a simple model that can be used to estimate the effectiveness of Cohesion expenditure relative to similar but unsubsidized projects, thereby making it possible to explicitly test an important assumption that is often implicit in estimates of the impact of Cohesion policies. Some preliminary results are reported for the case of infrastructure investment in the Spanish regions.

Is the Spanish Inheritance and Gift Tax incompatible with the free movement of workers and capital?: The reasoned opinion of the EU Commission IP/10/513

The aim of my speech is answering to the question if the Spanish Inheritance and Gift Tax is incompatible with the free movement of workers and capital. We are going to pay special attention to the European Commission’s request to Spain to change its Inheritance and Gift Tax provisions for Non-Residents or Assets held abroad. In order to answer to the question mentioned above five points will be explained. At first place I am going to describe the infrengement procedure established in the Article 258 that the EU Commission can follow when a Member State doesn’t comply with Community Law. At second place, we are going to explain what is the content of the EU Commission delivered on 5th of may 2010 regarding the spanish Inheritance and Gift Tax. Then, we will analise what establishes the Community Law regarding the freedom of workers and capital and how they are understood by the EU Court of Justice in similar cases. Finally, we are going to provide possible amendments that Spain could undertake.

Prediction of the economic cost of individual long-term care in the Spanish population

Pensions together with savings and investments during active life are key elements of retirement planning. Motivation for personal choices about the standard of living, bequest and the replacement ratio of pension with respect to last salary income must be considered. This research contributes to the financial planning by helping to quantify long-term care economic needs. We estimate life expectancy from retirement age onwards. The economic cost of care per unit of service is linked to the expected time of needed care and the intensity of required services. The expected individual cost of long-term care from an onset of dependence is estimated separately for men and women. Assumptions on the mortality of the dependent people compared to the general population are introduced. Parameters defining eligibility for various forms of coverage by the universal public social care of the welfare system are addressed. The impact of the intensity of social services on individual predictions is assessed, and a partial coverage by standard private insurance products is also explored. Data were collected by the Spanish Institute of Statistics in two surveys conducted on the general Spanish population in 1999 and in 2008. Official mortality records and life table trends were used to create realistic scenarios for longevity. We find empirical evidence that the public long-term care system in Spain effectively mitigates the risk of incurring huge lifetime costs. We also find that the most vulnerable categories are citizens with moderate disabilities that do not qualify to obtain public social care support. In the Spanish case, the trends between 1999 and 2008 need to be further explored.

New trends in world wine consumption and its impact on the Spanish wineries during the second half of the twentieth century

The main goal of this research is explain the impact of the new trends of wine consumption, and the way these enterprises adapted to the circumstances. The hypothesis is that the Spanish companies had to start a deep and traumatic restructuring process, with the aim of surviving adequately in the changeable wine national and international markets. Heavy technological investments were made, with serious finance problems, during the eighties and nineties. We will see this from two specific cases, the Cooperatives "San Isidro" and "Rosario", located in the Region of Murcia, in the Spanish southeast.

Evolution and recent developments of Spanish wine sector, 1950-2008

Since the 1980s the traditional European winegrowing regions have been carrying out deep changes in response to the onslaught of winegrowers in the New World. In recent years Spanish regions have been foremost in Europe in terms of change in areas turned over to wine production and distribution. This study analyses the main sequences of changes the Spanish wine industry has undergone: the evolution of consumption through the changes in consumer drinking habits; the leading role of exports in international markets; the spread of different types of marketing and business organization; the distribution in large and small sellers, and the main factors that have been involved in the chain of production and in the modernization of the wineries.

Structural decomposition analysis and input-output subsystems: An application to Spanish CO2 emissions

Analysis of gas emissions by the input-output subsystem approach provides detailed insight into pollution generation in an economy. Structural decomposition analysis, on the other hand, identifies the factors behind the changes in key variables over time. Extending the input-output subsystem model to account for the changes in these variables reveals the channels by which environmental burdens are caused and transmitted throughout the production system. In this paper we propose a decomposition of the changes in the components of CO2 emissions captured by an input-output subsystems representation. The empirical application is for the Spanish service sector, and the economic and environmental data are for years 1990 and 2000. Our results show that services increased their CO2 emissions mainly because of a rise in emissions generated by non-services to cover the final demand for services. In all service activities, the decomposed effects show an increase in CO2 emissions due to a decrease in emission coefficients (i.e., emissions per unit of output) compensated by an increase in emissions caused both by the input-output coefficients and the rise in demand for services. Finally, large asymmetries exist not only in the quantitative changes in the CO2 emissions of the various services but also in the decomposed effects of these changes. Keywords: structural decomposition analysis, input-output subsystems, CO2 emissions, service sector.

Is there Descriminatory Mortgage Pricing against Immigrants in the Spanish Lending Market?

In this paper, we investigate whether evidence of discriminatory treatment against immigrants in the Spanish mortgage market exists. More specifically, we test whether, ceteris paribus, immigrant borrowers tend to be charged with higher interest rates on their mortgages than their Spanish born counterparts. To do so, we use a unique dataset on granted mortgages that contains information not only regarding the conditions of the loan but also the socio-economic characteristics of the mortgagors. We observe that immigrants are systematically charged with higher interest rates. We apply the well known Oaxaca-Blinder decomposition to measure the extent to which this disparate treatment of lenders in mortgage pricing against immigrants is due to discrimination. Our results indicate that approximately two thirds of the gap in the interest rate between Spanish born and immigrant borrowers can be attributed to discriminatory treatment. Key words: Immigration, discrimination, mortgage pricing, housing market. JEL codes: R21, G21, J14

Age effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990s

This paper computes and compares alternative quality-adjusted price indexes for new cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously controls for time-invariant unobserved product e¤ects and time-variant unobserved quality changes, that are assumed to be captured by model age effects. The results show that the non-adjusted price index largely overstates the increase in the cost of living induced by changes in car prices and that previous evidence for this market have not measured the real extent of that bias, probably due to the omission of controls for unobservables. It is also shown that omitting age effects can also lead to misleading conclusions. The estimated price indexes give also some insights on what could have been the determinants of price evolution in the Spanish car market.

Age effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990's

This paper computes and compares alternative quality-adjusted price indexes for new cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously controls for time-invariant unobserved product effects and time-variant unobserved quality changes, that are assumed to be captured by model age effects. The results show that the non-adjusted price index largely overstates the increase in the cost of living induced by changes in car prices and that previous evidence for this market have not measured the real extent of that bias, probably due to the omission of controls for unobservables. It is also shown that omitting age effects can also lead to misleading conclusions. The estimated price indexes give also some insights on what could have been the determinants of price evolution in the Spanish car market. JEL classi…fication numbers: C43, E31, L11, L13, Keywords: Hedonic price indexes, Spanish car market, car prices, CPI, Cost of living