CARABALLO , M. Ángeles

This paper studies the relation between inflation and relative price variability (RPV) in Spain during the 1987-2009 period. We find that this relation presents a U-shape profile, and that the optimal annual inflation rate (defined as the one that minimizes RPV) is around 4%, higher than the 2% inflation target proposed by the European Monetary...

The menu-costs model developed by Ball and Mankiw (BM) [Ball, L., Mankiw, N.G., 1994. Asymmetric price adjustment and economic fluctuations. Economic Journal 104 (423), 247–261; Ball, L., Mankiw, N.G., 1995. Relative-Price Changes as Aggregate supply shocks. Quarterly Journal of Economics 110 (1), 161–193] predicts that inflation is positively...

La curva de Kuznets de carbono ha sido un tema ampliamente estudiado por la economía ambiental empírica y altamente controversial debido sobre todo a sus consecuencias para la elaboración política contra el cambio climático. Este trabajo está dirigido a analizar la relación entre emisiones de dióxido de carbono y producto para un conjunto de...

According to the relevant literatu re, monetary policy implications concerning the optimal inflation rate can be derived by examining the relationship between inflation and the Relative Price Variability (RPV). This paper studies this issue for selected Euro Area (EA) countries, using monthly data for the Harmonized Index of Consumer Prices. In...

´The methodology applied in this article to the Spanish economy is based on Ball and Mankiw (1995). These authors assume that a good proxy for supply shocks is the third moment of the price changes distribution. The main data used are the monthly consumer price indexes of each region, disaggregated in 57 categories, for the 1993–2005 period. We...

This paper presents a model of the conditions that may lead a small open economy towards a middle income trap. This situation has shown to be pervasive in Latin America. As Argentina is a salient instance of this phenomenon, we develop a stylized model of its economy at the first decades of the XXth century. It consists of a general equilibrium...

Over recent decades, the growing research on social diversity at country level has striven to explain several outcomes such as the differences in income across countries and the origins of civil conflicts. The literature employs a wide range of indices to measure social diversity that hinders the comparison of the results with respect to their...

Antecedentes: Este trabajo evalúa la sostenibilidad del modelo de desarrollo económico español en el periodo 1980-2010. Asimismo, realiza un análisis comparativo con las grandes economías europeas: Alemania, Francia, Italia y Reino Unido. Metodología: Para alcanzar el objetivo del trabajo se han empleado técnicas de cointegración. Mediante...

This paper introduces a new perspective on the impacts of tourism on host communi-ties by analyzing the links between tourism specialization and quality of institutions. Our research has two principal aims: firstly, to test the significance and sign of this relationship; and secondly, to explore the channels through which tourism could affect...

The relationship between income inequality and economic growth is estimated using dynamic panel estimation on a sample covering 112 emerging countries for the period 1980–2014. The results show that income inequality has a positive influence on economic growth for richer countries, in line with the classic theory, and a negative effect for...

This paper models the influence of political instability on long-term economic growth. We consider three political systems associated to real-world political systems of increasing participation in policy-making. For each system, society chooses an agent that remains in power unless instability, represented as a shortening of the period in...

The many growing migratory flows render our societies increasingly heterogeneous. From the point of view of social welfare, achieving all the positive effects of diversity appears as a challenge for our societies. Nevertheless, while it is true that ethnolinguistic diversity involves costs and benefits, at a country level it seems that the...

This paper analyses the relationship between inflation and relative price variability, in the direction of the latter, in two countries with very different inflationary experiences: Argentina and Spain. To address this objective, using disaggregated price indexes (the Wholesale Price Index for Argentina and the Consumer Price Index for Spain),...

El objetivo de este trabajo es el análisis de los determinantes del grado de satisfacción de los estudiantes con la formación ética que reciben en la Universidad. Con ello pretendemos detectar si existe una demanda de formación ética por parte de los universitarios que los actuales planes de estudios no cubren. Para alcanzar nuestro objetivo,...