Essays on Microeconomics and Industrial Organisation

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.