Essays on Microeconomics and Industrial Organisation

ISBN-13: 9783790801040 / Angielski / Miękka / 2003 / 386 str.

Pablo Coto-Millan

Opis

Essays on Microeconomics and Industrial Organisation aim to serve as a source and work of reference and consultation for the field of Microeconomics in general and of Industrial Organisation in particular. Traditionally, Microeconomics is essentially taught as theory and hardly ever an estimation of a demand, production and cost function is offered . Over the last two decades, however, Microeconomics has greatly broadened its field of empirical application. Therefore, this text combines microeconomic theories with a variety of empirical cases. The standardised microeconomic analysis of demand, production and costs is set forth along with appropriate econometric techniques. The text consists of four parts: Demand, Production and Costs (Supply), Market and Industrial Structure and Failure of Market and Industrial Regulation. It includes eleven new chapters with respect to the first edition.

Spis treści

I Demand.- 1 Modeling Seasonal Integrated Time Series: the Spanish Industrial Production Index.- 1.1 Seasonal Time Series Models.- 1.2 Forecasting.- 1.3 Unobservable Components.- 1.4 Empirical Analysis.- References.- 2 Passenger’s Choice of Air Transport under Road Competition: the Use of Cointegration Techniques.- 2.1 Introduction.- 2.2 The Model.- 2.3 The Data.- 2.4 Marshallian or Non Compensated Demands of Interurban Passenger Transport: Air and Road Transport.- 2.4.1 Air Transport Demand.- 2.4.2 Road Transport Demand.- 2.5 Conclusions.- References.- 3 Introduction of an Innovative Product: the High Speed Train (AVE).- 3.1 AVE: Characterisation.- 3.2 Qualitative Analysis.- 3.3 The Concept of Generalised Cost.- 3.4 Comparison Among Different Competing Products.- 3.5 Induction and Substitution Effects.- 3.5.1 Induction Effect.- 3.5.2 Substitution Effect.- 3.5.3 The Demand for the New Product.- 3.6 Impact on Demand.- References.- 4 An Approach to the Hub-and-Spoke Systems from SVARs Models. A Practical Application to Container Traffic between the Port of Bah (a de Algeciras and Other Ports of the Spanish Port System (Bahia de Cadiz and Las Palmas).- 4.1 Introduction and Reasons for Analysis.- 4.2 VAR Models: Methodological Approach.- 4.2.1 Impulse Response.- 4.3 Formulating Long-Run Restrictions under a SVAR Model Applied to a Hub-and-Spoke System.- 4.4 Practical Application to Container Traffic between the Bahía de Algeciras Port and other Ports of the Spanish Port System.- 4.4.1 Scenario 1: Existence of a Shared Hinterland between the Infrastructures. Practical Applications: Bivariate SVAR between the Ports Bahia de Algeciras and Cádiz.- 4.4.2 Scenario 2: Lack of Shared Hinterland between Infrastructures. A Practical Application: Bivariate SVAR between the Bahía de Algeciras and Las Palmas Ports.- 4.5 Conclusions.- References.- Production and Costs (Supply).- 5 Technical and Allocative Inefficiency in Spanish Public Hospitals.- 5.1 The Model.- 5.2 Definition of Variables and Functional Specification.- 5.2.1 Outputs.- 5.2.2 Input Prices.- 5.2.3 Fixed Input.- 5.2.4 Functional Form.- 5.3 Estimation and Results.- 5.4 Conclusions.- References.- 6 Technical Efficiency of Road Haulage Firms.- 6.1 Introduction.- 6.2 Efficiency.- 6.3 Classification of Efficiency Frontiers.- 6.4 A Theoretical Application to Goods Haulage Companies on Spanish Roads Using Panel Data.- References.- 7 Technical Efficiency and Liberalisation within International Air Transport (1992– 2000).- 7.1 Introduction.- 7.2 Methodology.- 7.3 Description of the Data and the Variables Used.- 7.4 Econometric Specification.- 7.5 Results of the Estimation.- 7.6 Conclusions.- References.- 8 Technological Innovation and Employment: Intersectoral Appraisals of Structural Change in the Service Economy.- 8.1 Introduction.- 8.2 Extent of Structural Change in Services Employment.- 8.3 Innovation and Employment Trends in Structural Change.- 8.4 Embodied Technology and Technology Diffusion in Services.- 8.5 Compositional Structural Change in Employment (Final and Intermediate Demand for Services).- 8.6 Conclusions.- References.- III Market and Industrial Structure.- 9 The Measurement of Intra-industry Trade and Specialisation: a Review.- 9.1 Measures of Intra-industry Trade and Specialisation.- 9.1.1 Intra-industry Trade Indices.- 9.1.2 Intra-industry Specialisation Indices.- 9.1.3 Comparison of Measures.- 9.1.4 Later Developments.- 9.2 Trade Imbalance Adjustment.- 9.2.1 Grubel and Lloyd (1975).- 9.2.2 Aquino (1978).- 9.2.3 Balassa(1979).- 9.2.4 Loertscher and Wolter (1980).- 9.2.5 Bergstrand(1982).- 9.2.6 Comments and Conclusions.- 9.3 Categorical Aggregation.- 9.3.1 Definition of the Problem.- 9.3.2 Categorical Aggregation Tests.- 9.3.3 Critics and Conclusions.- 9.4 Summary and Conclusions.- References.- 10 Measurement of Intra-industry Trade: a Categorical Aggregation Exercise with Spanish Trade Data.- 10.1 Introduction.- 10.2 Methodology.- 10.2.1 Measurement of Intra-industry Trade.- 10.2.2 Categorical Aggregation: Definition of the Problem and Assessment Methods.- 10.3 Main Results Obtained.- 10.4 Summary and Conclusions.- References.- 11 The Determinants of Intra-industry Trade in Spanish Manufacturing Sectors: a Cross-section Analysis.- 11.1 Spanish Intra-industry Trade Measurement.- 11.2 Analysis of the Determinants of Intra-industry Trade in Spain.- 11.2.1 Hypotheses.- 11.2.2 Data, Variables and Econometric Model.- 11.2.3 Results.- 11.3 Summary and Conclusions.- References.- 12 Economic Integration, Vertical and Horizontal Intra-industry Trade and Structural Adjustment: the Spanish Experience.- 12.1 Data and Methodology.- 12.2 Results.- 12.3 Summary and Conclusions.- References.- IV. Failures of Market and Industrial Regulation.- 13 Organisation and Regulation of the Port Industry: Europe and Spain.- 13.1 Introduction.- 13.2 Models of Port Property and Management.- 13.3 Private Participation in Ports.- 13.4 Regulation of Port Activities.- 13.5 Port Services and Terminals.- 13.5.1 Cargo Unitisation.- 13.5.2 Factors of Production and Their Regulation.- 13.6 Port Regulation in the European Union.- 13.6.1 Port Regulation in Spain.- 13.7 Conclusions.- References.- 14 Positive Theory of Regulation: an Application to Spanish Foreign Trade.- 14.1 Introduction.- 14.2 Data and Variables.- 13.3 Empirical Results.- 14.4 Conclusions.- References.- 15 Structure, Functioning and Regulation of the Spanish Electricity Sector. The Legal Framework and the New Proposals for Reform.- 15.1 Introduction.- 15.2 Structure, Functioning and Regulation of the Spanish Electricity Sector between 1983–1996.- 15.2.1 The Reform Process and the Basic Principles Regulating the System’s Operation (1983–1996).- 15.2.2 Unified Management and Central Planning.- 15.2.3 The Rates and Financial Return Policy of the Legal and Stable Framework (MLE).- 15.3 Regulation Reform in the Spanish Electricity Sector from 1997.- 15.4 Conclusions.- References.- 16 Effects of a Reduction of Standard Working Hours on Labour Market Performance.- 16.1 Effects on Employment.- 16.1.1 The Basic Model.- 16.1.2 The Role of Fixed Labour Costs.- 16.1.3 Effort Effect and Organisational Effect.- 16.2 Effects on Labour Market Participation.- 16.2.1 Labour Market Participation with Compulsory Working Hours.- 16.2.2 Effects of a Reduction of the Working Hours on Aggregate Labour Supply.- 16.3 Effects on the Unemployment Rate.- 16.3.1 The Basic Case.- 16.3.2 Effects on the Unemployment Rate under a More General Model.- 16.4 Conclusions.- References.- 17 Transitional Dynamics and Endogenous Growth Revisited: the Case of Public Capital.- 17.1 Introduction.- 17.2 Setup of the Models.- 17.3 Solution for the BGP in the CES Case.- 17.4 The Time Elimination Method and the Analysis of Transitional Dynamics.- 17.5 Discussion of the Main Results of the Simulations.- 17.6 Conclusions.- References.- 18 Unions, Wages and Productivity. The Spanish Case, 1981–2000.- 18.1 Introduction.- 18.2 Theoretical Background.- 18.2.1 Elasticity of Output with Respect to Unions through Wages.- 18.2.2 Elasticity of Productivity to Unions through Changes in Efficiency.- 18.2.3 Total Elasticity of Productivity to Unions.- 18.3 Empirical Analysis.- 18.4 Data and Variables.- 18.5 Main Empirical Results.- 18.6 Concluding Remarks.- References.- 19 Comparative Analysis of Port Economic Impact Studies in the Spanish Port System (1992– 2000).- 19.1 Introduction.- 19.2 The Economic Impact Studies as a Tool Employed by the Port System.- 19.3 Spanish Impact Studies Representative Sample.- 19.4 Comparative Methodology of the Impact Studies.- 19.4.1 Variables Chosen.- 19.4.2 Testing by Homogenising the Variables over Time.- 19.4.3 Testing by the Homogenisation of the Variables over Time and in the Geographical Area.- 19.5 Conclusions.- References.- Additional References.- 20 Economic Impact of Santander Airport.- 20.1 Introduction.- 20.2 Direct Effects of the Airport Industry.- 20.2.1 Santander Airport. AENA.- 20.2.2 Customs and Administration Services.- 20.2.3 Rest of Airport Industry.- 20.2.4 Total Airport Industry.- 20.3 Indirect and Induced Effects of Airport Industry.- 20.3.1 Regionalisation of the National Input-Output Table.- 20.3.2 Indirect and Induced Impact Vectors.- 20.3.3 Total Airport Industry.- 20.4 Total Effects of the Airport Industry.- 20.5 Effects of the Airport-Dependent Industry.- 20.6 Induced Effects of the Airport-Dependent Industry.- 20.7 Impact of Santander Airport on the Economy of Cantabria.- 20.8 Summary and Conclusions.- References.- Other References.- 21 Dynamic Adjustments in a Two-Sector Model.- 21.1 The Formal Model.- 21.2 Basic Results.- 21.3 Conclusions.- Annex.- Basic References.- Other References.- 22 Market Failures: the Case for Road Congestion Externalities.- 22.1 Introduction.- 22.2 Externality.- 22.2.1 Concept.- 22.3 Transport Externalities.- 22.3.1 Methodological Framework.- 22.3.2 Typology.- 22.3.3 Internalisation Instruments.- 22.4 Congestion.- 22.4.1 Concept.- 22.4.2 Congestion Pricing.- 22.5 The Case of Spain.- 22.5.1 Assessment Process.- 22.5.2 Results.- 22.6 Conclusions.- References.- 23 Social Benefits of Investment Projects: the Case for High-Speed Rail.- 23.1 Introduction.- 23.2 Methodological Framework.- 23.3 High-Speed Rail.- 23.3.1 Main Features.- 23.3.2 Corridor Features.- 23.3.3 Features of the AVE.- 23.3.4 Mode Parameters and Features.- 23.3.5 Demand.- 23.4 Cost-Benefit Analysis.- 23.4.1 Social Costs.- 23.4.2 Social Benefits.- 23.4.3 Other Social Benefits.- 23.4.4 Other Evaluation Hypotheses.- 23.4.5 Social Profitability.- 23.5 Conclusions.- References.

Blurb

Essays on Microeconomics and Industrial Organisation aims to serve as a source and work of reference and consultation for the field of Microeconomics in general and of Industrial Organisation in particular. Traditionally, Microeconomics is essentially taught as theory and hardly ever an estimation of a demand, production and cost function is offered . Over the last two decades, however, Microeconomics has greatly broadened its field of empirical application. Therefore, this text combines microeconomic theories with a variety of empirical cases. The standardised microeconomic analysis of demand, production and costs is set forth along with appropriate econometric techniques. The text consists of four parts: Demand, Production and Costs (Supply), Market and Industrial Structure and Failure of Market and Industrial Regulation. It includes eleven new chapters with respect to the first edition.