Asymmetries in the capacity-inflation trade-off

This paper analyzes the joint dynamics of two key macroeconomic variables for the conduct of monetary policy: inflation and the aggregate capacity utilization rate. An econometric procedure useful for estimating dynamic rational expectation models with unobserved components is developed and applied in this context. The method combines the flexibility of the unobserved components approach, based on the Kalman recursion, with the power of the general method of moments estimation procedure. A 'hyb id' Phillips curve relating inflation to the capacity utilization gap and incorporating forward and backward looking components is estimated. The results show that such a relationship in non-linear: the slope of the Phillips curve depends significantly on the magnitude of the capacity gap. These findings provide support for studying the implications of asymmetricmonetary policy rules.

Paraphrasing : scope and typology : a computational approach

This PhD project aims to study paraphrasing, initially understood as the different ways in which the same content is expressed linguistically. We will go into that concept in depth trying to define and delimit its scope more accurately. In that sense, we also aim to discover which kind of structures and phenomena it covers. Although there exist some paraphrasing typologies, the great majority of them only apply to English, and focus on lexical and syntactic transformations. Our intention is to go further into this subject and propose a paraphrasing typology for Spanish and Catalan combining lexical, syntactic, semantic and pragmatic knowledge. We apply a bottom-up methodology trying to collect evidence of this phenomenon from the data. For this purpose, we are initially using the Spanish Wikipedia as our corpus. The internal structure of this encyclopedia makes it a good resource for extracting paraphrasing examples for our investigation. This empirical approach will be complemented with the use of linguistic knowledge, and by comparing and contrasting our results to previously proposed paraphrasing typologies in order to enlarge the possible paraphrasing forms found in our corpus. The fact that the same content can be expressed in many different ways presents a major challenge for Natural Language Processing (NLP) applications. Thus, research on paraphrasing has recently been attracting increasing attention in the fields of NLP and Computational Linguistics. The results obtained in this investigation would be of great interest in many of these applications.

On the effect of the geographical scope of agglomeration economies on firm location

This article analyses how agglomeration economies shaped the location decisions of new manufacturing start-ups in Catalan municipalities in 2001-2005. We estimate whether the locations of new firms are spatially autocorrelated and whether this phenomenon is industry-specific. Our aim is to estimate the geographical scope of agglomeration economies on firm entries. The data set comes from a compulsory register of manufacturing establishments (REIC: Catalan Manufacturing Establishments Register). JEL classification: R1, R3 Keywords: firm location; spatial autocorrelation

Bargaining failures and merger policy

In this paper we study the optimal ex-ante merger policy in a model where merger proposals are the result of strategic bargaining among alternative candidates. We allow for firm asymmetries and, in particular, we emphasize the fact that potential synergies generated by a merger may vary substantially depending on the identity of the participating firms. The model demonstrates that, under some circumstances, relatively inefficient mergers may take place. That is, a particular merger may materialize despite the existence of an alternative merger capable of generating higher social surplus and even higher profits. Such bargaining failures have important implications for the ex-ante optimal merger policy. We show that a more stringent policy than the ex-post optimal reduces the scope of these bargaining failures and raises expected social surplus. We use a bargaining model that is flexible, in the sense that its strategic structure does not place any exogenous restriction on the endogenous likelihood of feasible mergers.

On the origin and scope of the second language speech production disadvatage

Los hablantes bilingües tienen un acceso al léxico más lento y menos robusto que los monolingües, incluso cuando hablan en su lengua materna y dominante. Este fenómeno, comúnmente llamado “la desventaja bilingüe” también se observa en hablantes de una segunda lengua en comparación con hablantes de una primera lengua. Una causa que posiblemente contribuya a estas desventajas es el uso de control inhibitorio durante la producción del lenguaje: la inhibición de palabras coactivadas de la lengua actualmente no en uso puede prevenir intrusiones de dicha lengua, pero al mismo tiempo ralentizar la producción del lenguaje. El primer objetivo de los estudios descritos en este informe era testear esta hipótesis mediante diferentes predicciones generadas por teorías de control inhibitorio del lenguaje. Un segundo objetivo era investigar la extensión de la desventaja bilingüe dentro y fuera de la producción de palabras aisladas, así como avanzar en el conocimiento de las variables que la modulan. En lo atingente al primer objetivo, la evidencia obtenida es incompatible con un control inhibitorio global, desafiando la idea de mecanismos específicos en el hablante bilingüe utilizados para la selección léxica. Esto implica que una explicación común para el control de lenguaje y la desventaja bilingüe en el acceso al léxico es poco plausible. En cuanto al segundo objetivo, los resultados muestran que (a) la desventaja bilingüe no tiene un impacto al acceso a la memoria; (b) la desventaja bilingüe extiende a la producción del habla conectada; y (c) similitudes entre lenguas a diferentes niveles de representación así como la frecuencia de uso son factores que modulan la desventaja bilingüe.   

The Geographical Scope of Industrial Location Determinants: An Alternative Approach

This paper considers the estimation of the geographical scope of industrial location determinants. While previous studies impose strong assumptions on the weighting scheme of the spatial neighbour matrix, we propose a exible parametrisation that allows for di fferent (distance-based) de finitions of neighbourhood and di fferent weights to the neighbours. In particular, we estimate how far can reach indirect marginal e ffects and discuss how to report them. We also show that the use of smooth transition functions provides tools for policy analysis that are not available in the traditional threshold modelling. Keywords: count data models, industrial location, smooth transition functions, threshold models. JEL-Codes: C25, C52, R11, R30.

Asymmetries in the opportunity structure. Intergenerational mobility trends in Europe

It remains unclear whether social mobility is increasing in the advancednations. The answer may depend on mobility patterns within very recentbirth cohorts. We use the inter-generational module in the 2005 EUSILCwhich allows us to include more recent cohorts. Comparingacross two Nordic and three Continental European countries, weestimate inter-generational mobility trends for sons both indirectly, viasocial origin effects on educational attainment, and directly in terms ofadult income attainment. In line with other studies we find substantiallymore mobility in Scandinavia, but also that traditionally less mobilesocieties, like Spain, are moving towards greater equality. We focusparticularly on non-linear relations. Most interestingly, we revealevident asymmetries in the process of equalizing life chances, inDenmark. The disadvantages associated with low social class originshave largely disappeared, but the advantages related to privilegedorigins persist.

Country asymmetries, endogenous product choice and the speed of trade liberalization

In a world with two countries which differ in size, we study theimpact of (the speed of) trade liberalization on firms' profitsand total welfare of the countries involved. Firms correctlyanticipate the pace of trade liberalization and take it intoaccount when deciding on their product choices, which areendogenously determined at the beginning of the game. Competitionin the marketplace then occurs either on quantities or on prices.As long as the autarkic phase continues, local firms are nationalmonopolists. When trade liberalization occurs, firms compete in aninternational duopoly. We analyze trade effects by using twodifferent models of product differentiation. Across all thespecifications adopted (and independently of the price v. quantitycompetition hypothesis), total welfare always unambiguously riseswith the speed of trade liberalization: Possible losses by firmsare always outweighed by consumers' gains, which come under theform of lower prices, enlarged variety of higher average qualitiesavailable. The effect on profits depends on the type of industryanalyzed. Two results in particular seem to be worth of mention.With vertical product differentiation and fixed costs of qualityimprovements, the expected size of the market faced by the firmsdetermines the incentive to invest in quality. The longer the periodof autarky, the lower the possibility that the firm from the smallcountry would be producing the high quality and be the leader in theinternational market when it opens. On the contrary, when trade opensimmediately, national markets do not play any role and firms fromdifferent countries have the same opportunity to become the leader.Hence, immediate trade liberalization might be in the interest ofproducers in the small country. In general, the lower the size of thesmall country, the more likely its firm will gain from tradeliberalization. Losses from the small country firm can arise when itis relegated to low quality good production and the domestic marketsize is not very small. With horizontal product differentiation (thehomogeneous good case being a limit case of it when costs ofdifferentiation tend to infinity), investments in differentiationbenefit both firms in equal manner. Firms from the small country do notrun the risk of being relegated to a lower competitive position undertrade. As a result, they would never lose from it. Instead, firms fromthe large country may still incur losses from the opening of trade whenthe market expansion effect is low (i.e. when the country is very largerelative to the other).

Measuring asymmetries in brand associations using correspondence analysis

Correspondence analysis is introduced in the brand associationliterature as an alternative tool to measure dominance, for theparticular case of free choice data. The method is also used to analysedifferences, or asymmetries, between brand-attribute associations whereattributes are associated with evoked brands, and brand-attributeassociations where brands are associated with the attributes. Anapplication to a sample of deodorants is used to illustrate the proposedmethodology.

Plant-associated microorganisms: a view from the scope of microbiology

Microorganisms interact with plants because plants offer a wide diversity of habitats including the phyllosphere (aerial plant part), the rhizosphere (zone of influence of the root system), and the endosphere (internal transport system). Interactions of epiphytes, rhizophytes or endophytes may be detrimental or beneficial for either the microorganism or the plant and may be classified as neutralism, commensalism, synergism, mutualism, amensalism, competition or parasitism

Reaction time asymmetries between expansion and contraction

Different asymmetries between expansion and contraction (radial motions) have been reported in the literature. Often these patterns have been regarded as implying different channels for each type of radial direction (outward versus inwards) operating at a higher level of visual motion processing. In two experiments (detection and discrimination tasks) we report reaction time asymmetries between expansion and contraction. Power functions were fitted to the data. While an exponent of 0.5 accounted for the expansion data better, a value of unity yielded the best fit for the contraction data. Instead of interpreting these differences as corresponding to different higher order motion detectors, we regard these findings as reflecting the fact that expansion and contraction tap two distinct psychophysical input channels underlying the processing of fast and slow velocities respectively.

Entry Regulation Asymmetries and Gasoline Competition in a Mixed Motorway Network

Regulatory and funding asymmetries in the Spanish motorway network produce huge differences in the structure of gasoline markets by motorway type: free or toll. While competition is encouraged among gas stations on free motorways, the regulations for toll motorways allow private concessionaires to auction all gas stations to the same provider, thereby limiting competition and consolidating market power. This paper reports how this regulatory asymmetry results in higher prices and fewer gas stations. Specifically, we show that competition is constrained on toll motorways by the granting of geographical monopolies, resulting in a small number of rivals operating in close proximity to each other, and allowing gas stations to operate as local monopolies. The lack of competition would seem to account for the price differential between toll and free motorways. According to available evidence, deregulation measures affecting toll motorway concessions could help to mitigate price inefficiencies and increase consumer welfare.

Expanding the Customer Relationship Management scope to the non-profit organizations : an analysis focused on the e-university domain

Peer-reviewed