Property as an economic concept: Reconciling legal and economic conceptions of property rights in a Coasean framework

Adopting a simplistic view of Coase (1960), most economic analyses of property rightsdisregard both the key advantage that legal property rights (that is, in rem rights) provide torightholders in terms of enhanced enforcement, and the difficulties they pose to acquirers interms of information asymmetry about legal title. Consequently, these analyses tend to overstatethe role of "private ordering" and disregard the two key elements of property law: first, theessential conflict between property (that is, in rem) enforcement and transaction costs; and,second, the institutional solutions created to overcome it, mainly contractual registries capable ofmaking truly impersonal (that is, asset-based) trade viable when previous relevant transactionson the same assets are not verifiable by judges. This paper fills this gap by reinterpreting bothelements within the Coasean framework and thus redrawing the institutional foundations of bothproperty and corporate contracting.

The effects of tax deductibility on the mix of property taxes and use charges: an empirical analysis of the spanish case

This paper tests some hypothesis about the determinants of the local tax structure. In particular, we focus on the effects that the property tax deductibility in the national income tax has on the relative use of the property tax and user charges. We deal with the incentive effects that local governments face regarding the different sources of revenue by means of a model in which the local tax structure and the level of public expenditure arise as a result of the maximizing behaviour of local politicians subject to the economic effects of the tax system. We attempt to test the hypothesis developed with data corresponding to a set of Spanish municipalities during the period 1987-9l. We find that tax deductibility provides incentives to raise revenues from the property tax but does not introduce a biass against user charges or in favor of overall spending growth

The effects of tax deductibility on the mix of property taxes and use charges: an empirical analysis of the spanish case

This paper tests some hypothesis about the determinants of the local tax structure. In particular, we focus on the effects that the property tax deductibility in the national income tax has on the relative use of the property tax and user charges. We deal with the incentive effects that local governments face regarding the different sources of revenue by means of a model in which the local tax structure and the level of public expenditure arise as a result of the maximizing behaviour of local politicians subject to the economic effects of the tax system. We attempt to test the hypothesis developed with data corresponding to a set of Spanish municipalities during the period 1987-9l. We find that tax deductibility provides incentives to raise revenues from the property tax but does not introduce a biass against user charges or in favor of overall spending growth

Prime Property Institutions for a Subprime Era: Exploring Innovative Models of Residential Development and Finance

This paper breaks new ground toward contractual and institutional innovation in models of homeownership, equity building, and mortgage enforcement. Inspired by recent developments in the affordable housing sector and in other types of public financing schemes, this paper suggests extending institutional and financial strategies such as timeand place-based division of property rights, conditional subsidies, and credit mediation to alleviate the systemic risks of mortgage foreclosure. Alongside a for-profit shared equity scheme that would be led by local governments, we also outline a private market shared equity model, one of bootstrapping home buying with purchase options.

Prime property institutions for a subprime era: Toward innovative models of homeownership

This Article breaks new ground toward contractual and institutional innovation in models of homeownership, equity building, and mortgage enforcement. Inspired by recent developments in the affordable housing sector and other types of public financing schemes, we suggest extending institutional and financial strategies such as time- and place-based division of property rights, conditional subsidies, and credit mediation to alleviate the systemic risks of mortgage foreclosure. Two new solutions offer a broad theoretical basis for such developments in the economic and legal institution of homeownership: a for-profit shared equity scheme led by local governments alongside a private market shared equity model, one of "bootstrapping home buying with purchase options".

Payments for environmental services in watersheds: insights from a comparative study of three cases in Central America

We have compared three cases of payments for water-related environmental services (PES) in Central America, in terms of socioeconomic background, opportunity costs of forest conservation and stakeholders’ perceptions on the conditions of water resources and other issues. We found that, in general, the foregone benefits from land uses alternative to forest cover are larger than the amount paid, which apparently contradicts the economic foundation of PES schemes. A number of possible explanations are explored. The results also suggest that trade-offs between different environmental and social goals are likely to emerge in PES schemes, posing some doubts on their ability to be multipurpose instruments for environmental improvement and rural development. We also found that PES schemes may work as a conflictresolution instrument, facilitating downstream -upstream problem solving, though at the same time they might introduce changes in social perceptions of property rights.

Market and institutional determinants in the regulation of conveyancers

Demand for law professionals in the conveyancing of property is decreasing because of market and institutional changes. On the market side, many transactions feature large, well-known parties and standardized transactions, which make professionals less effective or necessary for protecting the parties to private contracts. On the institutional side, public titling makes it possible to dispense with a broadening set of their former functions. Recording of deeds made professionals redundant as depositories of deeds and reduced demand for them to design title guarantees. Effective registration of rights increasingly substitutes professionals for detecting title conflicts with third parties and gathering their consent. Market changes undermine the information asymmetry rationale for regulating conveyancing, while institutional changes facilitate liberalizing not only conduct but also license regulations. These arguments are supported here by disentangling the logic of titling systems and presenting empirical evidence from the European and USA markets.

The colonial origins of Civil War

The dominant hypothesis in the literature that studies conflict is that poverty is the main cause of civil wars. We instead analyze the effect of institutions on civil war, controlling for income per capita. In our set up, institutions are endogenous and colonial origins affect civil wars through their legacy on institutions. Our results indicate that institutions, proxied by the protection of property rights, rule of law and the efficiency of the legal system, are a fundamental cause of civil war. In particular, an improvement in institutions from the median value in the sample to the 75th percentile is associated with a 38 percentage points reduction in the incidence of civil wars. Moreover, once institutions are included as explaining civil wars, income does not have any effect on civil war, either directly or indirectly.

Les communautés bulu contre la plantation industrielle HEVECAM au Cameroun

In 1975 the Kribi region (Southern Cameroon) became host of the rubber plantation HEVECAM, the third largest employer in Cameroon. The establishment of the plantation has been preceded by the expropriation of customary land and by the destruction of the rainforest used by local populations. As a result, conflicts – mostly latent – pitting neighbouring Bulu communities against the plantation have occurred, especially during the last few years. Drawing on fieldwork data as well as on anthropological, economic and historical materials, I try to explore a new way of looking at such environmental conflicts by arguing that they reflect the struggle between two distinct institutional logics with different impacts on the environment, i.e. the logic of property versus the one of possession. In short, the logic of possession corresponds to a multi-functional community-based forest management, while the logic of property gave birth to the commercial monoculture model, the highest stage of the transformation of an ecosystem in order to match the requirements of property. It is argued that the conflict between the logic of possession and the logic of property is at the heart of many cases of “environmentalisms of the poor” that arise in reaction to “development”.

Institutional Balance in the EU. The Prodi Administration as a Reforming Commission

The essay looks at the Prodi Commission (1999-2004) in the context of the institutional balance in the European Union. Not only did Prodi come into office at a time of unprecedented weakness of the Executive, but the Commission operates within a changing institutional equilibrium, one made more precarious by the shifting political disposition of the Member States

Nanotermoparells: heterounions de nanowires

Projecte de recerca elaborat a partir d’una estada a la University of California a Irvine, EEUU, entre juliol del 2007 i gener del 2008. Els termoparells són actualment els sensors de temperatura més populars i més utilitzats per a un ampli rang d’aplicacions: industrials, domèstiques, etc. Aconseguir miniaturar els dispositius fins a dimensions extremadament petites obra un ampli rang de noves aplicacions per aquests dispositius, per exemple, en el camp de la tecnologia lab-on-a-chip. En aquesta investigació, el concepte de termoparell, és a dir, dos cables de diferent metall connectats per un extrem s’ha extrapolat a l’escala nanomètrica, utilitzant nanowires com a element de construcció. Aquests nanowires s’han sintetitzat a través d’un nou procediment desenvolupat en el grup d’investigació de la Universitat de California, Irvine, que ha permès treballar amb nanowires de diferents dimensions (control independent de l’alçada i amplada) i un major grau d’èxit en la fabricació d’aquests termometres. El mètode també permet dipositar aquestes nanoestructures sobre substractes no conductors de manera controlable, simplificant notablement tot el procés de fabricació. L’obtenció d’aquests dispositius ha permès demostrar que, a part de ser bons sensors de temperatura a nivell macroscòpic (fonts de calor ambientals), també permet la determinació de temperatura a nivell microscòpic (fonts de calor focalitzada, com és el cas de feixos làser). Per a la seva caracterització ha estat necessari l’ús de tecnologia puntera (làsers, amplificadors, microscopis de forces atòmiques) i inclòs el disseny de nous dispositius. Aquests nanotermoparells presenten propietats extraordinàries, com una gran sensitivitat, gran velocitat de resposta a estímuls tèrmics, i un comportament estable vers l’ús i el temps.

Aplicació web per a gestió patrimonial de les administracions publiques

Aplicació web que adapti el Reglament deBéns de les Entitats Locals a la gestió Patrimonial que fan les Corporacions dels seus béns, amb l'objectiu d'establir les normes procedimentals a seguir en els expedients administratius municipals, quan afecten al seu patrimoni.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques (maig-setembre 2008)

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques de 5 de maig 2008, 16 de juliol 2008 i 29 de setembre 2008.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques IV

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques 22 de gener 2007, de 24 de gener 2007, de 15 de febrer 2007, de 16 de febrer 200 i de 19 de febrer 2007.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques (maig 2007-febrer 2008)

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques de 2 de maig 2007, de 10 de juliol 2007, d'11 de juliol 2007, de 16 de juliol 2007, de 17 de juliol 2007, de 22 d'octubre 2007, de 21 de desembre 2007 i 4 de febrer 2008.