2024-03-28T22:38:08Zhttp://oai-repositori.upf.edu/oai/requestoai:repositori.upf.edu:10230/334592018-01-24T08:36:39Zcom_10230_26995com_10230_16441col_10230_26999
Ruberl, Heather
Stoian, Anca
2017-12-12T16:29:48Z
2017-12-12T16:29:48Z
2017
http://hdl.handle.net/10230/33459
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Michael Creel
Extending an Aiyagari-Huggett style model to include health-related produc-tivity shocks with wealth-dependent probability of occurrence, this paper sets out to assess the implications of introducing a guaranteed minimum income and con-trasts the ensuing general equilibrium outcome with the one obtained by imple-menting a targeted subsidy policy instead (which represents the welfare systems seen in many European countries). The calibration of the model incorporates our empirical finding that individuals in households with debt are more likely to suffer from poor health and have lower productivity than individuals in house-holds without debt. Adding this feature changes the predictions of the standard model by creating an incentive for agents to accumulate just enough assets to secure themselves better health prospects. In this context, the minimum income is welfare improving, but creates more wealth inequality.
L'extensió d'un model d'estil Aiyagari-Huggett per incloure els xocs de productivitat relacionats amb la salut amb probabilitat d'aparició de la riquesa, es proposa avaluar les implicacions d'introduir un ingrés mínim garantit i confirmar el consegüent resultat de l'equilibri general amb el obtingut mitjançant la implementació d'una política de subvencions específiques (que representa els sistemes de benestar que es veuen en molts països europeus). La calibració del model incorpora la nostra constatació empírica que els individus en les famílies amb deute tenen més probabilitats de patir una mala salut i tenen una menor productivitat que els individus a les cases sense deutes. Si afegiu aquesta característica, es modifiquen les prediccions del model estàndard creant un incentiu perquè els agents acumulin només béns suficients per assegurar-se millors perspectives de salut. En aquest context, l'ingrés mínim és millorar el benestar, però crea més desigualtat de riquesa.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2016-2017
Money for nothing: what can basic income achieve?
info:eu-repo/semantics/masterThesis
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Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/334602018-01-24T08:36:45Zcom_10230_26995com_10230_16441col_10230_26999
Ahmed, Naveed
García Jordan, Francisco
Keenan, Michael
Kline, Benjamin
Lecland, Inés
2017-12-12T16:37:18Z
2017-12-12T16:37:18Z
2017
http://hdl.handle.net/10230/33460
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner, Antonio Ciccone i Jaume Ventura
This paper uses household-level survey data from the USAID and the Colombian government to analyse the e˙ect of the Code of Childhood and Adolescence of 2006, which raised the minimum working age from 12 to 15, on the socioeconomic outcomes of the a˙ected cohort. We utilise OLS, probit, di˙erence-in-di˙erence, and triple di˙erence techniques. Our results show statistically significant but marginally impactful changes in outcomes due to the law. Education results are mixed, with an increase in secondary school completion but a decrease in tertiary school enrollment. We o˙er a “Gap Year Hypothesis” to explain this outcome. Rural areas and areas with lower incidences of violence seem to experience more of an e˙ect from the law change. Our results for probability of being employed are inconclusive, but there is a decrease in wages which asymmetrically harms females. The paper includes a variety of policy proposals to decrease incidences of child labour and create more positive social outcomes.
Aquest article fa servir dades de les enquestes a nivell domiciliari de la USAID i el govern colombià per analitzar el Codi de la infància i l'adolescència de 2006, que va elevar l'edat mínima de treball de 12 a 15 anys, sobre els resultats socioeconòmics de la AH cohort ected. Utilitzem tècniques OLS, probit, diherence-in-tenència i triple indicació. Els nostres resultats mostren canvis estadísticament significatius però impactants en els resultats derivats de la llei. Els resultats de l'educació es combinen, amb un augment de la formació de secundària, però una disminució de la matrícula escolar. Es tracta d'una "hipòtesi de bretxa" per explicar aquest resultat. Les zones rurals i les zones amb menor incidència de violència semblen experimentar més d'un eix del canvi de llei. Els nostres resultats per a la probabilitat de ser emprats no són concloents, però hi ha una disminució dels salaris que perjudiquen asimètricament les femelles. El document inclou una varietat de propostes polítiques per reduir les incidències del treball infantil i crear resultats socials més positius.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2016-2017
Putting child labour laws to work: evidence from Colombia
info:eu-repo/semantics/masterThesis
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Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/334652018-11-22T17:13:05Zcom_10230_26995com_10230_16441col_10230_26999
Bergevin-Chammah, Carine
Domenech, Maria del Mar
Guasch Salvadó, Marta
Murillo, Ricard
Ripoll, Rosa
2017-12-13T09:07:21Z
2017-12-13T09:07:21Z
2017
http://hdl.handle.net/10230/33465
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner ; Antonio Ciccone i Jaume Ventura
This paper analyses how a dollarized country is affected by a financial crisis, since a different response is expected due to the lack of independent monetary policy. The study focuses on the case of the dollarized economy of Ecuador during the 2008 U.S. dollar appreciation amid the financial crisis. In order to assess whether Ecuador had a different response to the crisis compared to its non-dollarized counter-factual, a Synthetic Control Method is implemented. Fur-thermore, a Structural Vector Autoregression (SVAR) method is used to study the response of the main macroeconomic variables to a nominal appreciation through a Structural Impulse-response Function (SIRF), comparing it to the response to a nominal depreciation in the case of Colombia. The results show that the behavior of Ecuador during the crisis diverges substantially from the response of similar economies. The results in the case of Colombia are in accordance with the IS-LM model, whilst for the case of Ecuador the nominal rigidities prevent prices to adjust immediately, provoking short term fluctuations in real variables. Finally, some policy recommendations are proposed.
Aquest article analitza com un país dolarizat està condicionat per una crisi financera, ja que es preveu una resposta diferent a causa de la manca de política monetària independent. L'estudi se centra en el cas de l'economia dolaritzada de l'Equador durant l'apreciació dels EUA dels EUA en el marc de la crisi financera. Per tal de determinar si l'Equador tenia una resposta diferent a la crisi en comparació amb la seva no-dolarització contrafactual, s'implementa un mètode de control sintètic. El mètode d'Autoregresió vectorial estructural (SVAR) de Fur-Thermore s'utilitza per estudiar la resposta de les principals variables macroeconòmiques a una valoració nominal a través d'una Funció d'impuls-resposta estructural (SIRF), comparant-la amb la resposta a una depreciació nominal del cas de Colòmbia. Els resultats mostren que el comportament de l'Equador durant la crisi difereix substancialment de la resposta d'economies similars. Els resultats en el cas de Colòmbia estan d'acord amb el model IS-LM, mentre que per al cas de l'Equador, les rigideses nominals impedeixen que els preus s'ajustin immediatament, provocant fluctuacions a curt termini en variables reals. Finalment, es proposen algunes recomanacions de política.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2016-2017
How does being a dollarized economy affect a country in times of a crisis? Evidence from Ecuador
info:eu-repo/semantics/masterThesis
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10230/33465
oai:repositori.upf.edu:10230/33465
2018-11-22 18:13:05.374
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/334662018-05-04T01:31:30Zcom_10230_26995com_10230_16441col_10230_26999
Garchi Casal, Skander
2017-12-13T09:14:00Z
2017-12-13T09:14:00Z
2017
http://hdl.handle.net/10230/33466
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Michael Creel
This paper aims to replicate Michael Creel’s work in ”Neural Nets for Indi-rect Inference” by calibrating a heterogeneous agent model. Michael Creel proposes to use neural networks to approximate the limited posterior mean, E(θ|ZG), where θ is the parameter vector of the simulatable model and ZG is a vector of statistics. Simulating and calibrating macroeconomic models can be a really difficult task. The goal of this thesis is to provide the tools for an easy and fast calibration of a heterogeneous agent model. The use of neural nets will be essential to identify the mapping from the statistics space to the parameter’s space.
Aquest article pretén reproduir el treball de Michael Creel a "Xarxes neuronals per a la inferència indirecta" calibrant un model d'agent heterogeni. Michael Creel proposa utilitzar xarxes neuronals per aproximar la mitjana posterior limitada, E (θ | ZG), on θ és el vector de paràmetres del model simulable i ZG és un vector d'estadístiques. Simular i calibrar models macroeconòmics pot ser una tasca realment difícil. L'objectiu d'aquesta tesi és proporcionar les eines per a una calibració fàcil i ràpida d'un model d'agent heterogeni. L'ús de xarxes neuronals serà essencial per identificar el mapa des de l'espai d'estadístiques fins a l'espai del paràmetre.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2016-2017
The heterogeneous agent model
: a calibration based on a simulation
info:eu-repo/semantics/masterThesis
TEXT
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10230/33466
oai:repositori.upf.edu:10230/33466
2018-05-04 03:31:30.392
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/334672018-01-24T08:36:51Zcom_10230_26995com_10230_16441col_10230_26999
Fidelis, Andressa Lin
Ortaç, Zeynep
2017-12-13T09:24:12Z
2017-12-13T09:24:12Z
2017
http://hdl.handle.net/10230/33467
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Anna Merino
This report reviews data-driven mergers by focusing on two main competition challenges associated with them. Departing from the economic characteristics of data-driven markets, we analyze the unreplicable competitive advantage that data-platforms may pose to entrants. Secondly, it reviews the intersection between competition and privacy and the quantification of the merger effects on consumer choice. The report argues that a more dynamic approach can contribute to address those challenges better than a pure static framework, and proposes a re-analysis of the European Commission’s merger decision regarding Facebook/WhatsApp to test whether its outcome would have changed if a more forward-looking analysis were taken into account. The report concludes by summarizing the main takeaways and proposing that dynamic effects, consumer choice, and merger control be analyzed more holistically.
Aquest informe revisa les fusions basades en dades centrant-se en dos principals desafiaments relacionats amb la competència associada. Partint de les característiques econòmiques dels mercats impulsats per la informació, analitzem l'avantatge competitiu no replicable que les plataformes de dades poden presentar als participants. En segon lloc, revisa la intersecció entre la competència i la privadesa i la quantificació dels efectes de la fusió en l'elecció del consumidor. L'informe argumenta que un enfocament més dinàmic pot contribuir a afrontar aquests reptes millor que un marc estàtic pur i proposa una nova anàlisi de la decisió de la fusió de la Comissió Europea respecte a Facebook / WhatsApp per comprovar si el seu resultat hauria canviat si un canvi més avançat hagués tingut en compte unes anàlisis amb més visió de futur. L'informe conclou sumant els principals objectius i proposant que els efectes dinàmics, l'elecció del consumidor i el control de fusions s'analitzin de manera més holística.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2016-2017
Data-driven mergers : a call for further integration of dynamics effects into competition analysis
info:eu-repo/semantics/masterThesis
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2018-01-24 09:36:51.671
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/334682018-01-24T08:36:54Zcom_10230_26995com_10230_16441col_10230_26999
Branco, Samira
Brossard-Ruffey, Amélie
2017-12-13T09:28:52Z
2017-12-13T09:28:52Z
2017
http://hdl.handle.net/10230/33468
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Anna Merino
The emerging practice of price discrimination based on Big Data will enable firms, especially online retailers to increase their profitability while consumers fear to be the losers of the game. A study of Netflix services demonstrated that a surprisingly restricted number of explanatory variables allow for efficient tailored-prices. We explain that with this technology sellers will be able to approximate consumers ‘reservation utility and engage in what we call an almost perfect price discrimination. If it is still superior to buy the good, overall welfare effects depend on the competitive landscape and characteristics of the mass of consumers. Positive effects for consumers are possible but subject to specific assumptions. The most challenging one for antitrust analysis is the access of data and the interaction between retailing firms and data brokers. Part of our work applies the theoretical discussion to the insurance sector
La pràctica emergent de discriminació de preus basada en Big Data permetrá les companyies, especialment de venda online, d’incrementar la seva rentabilitat mentre els consumidors temen sortir-hi perdent. Un estudi de Netflix demostrà que un nombre sorprenentment restringit de variables explicatives permetía generar uns preus customitzats i eficients. Nosaltres expliquem que, amb aquesta tecnología, els venedors serán capaços d’abordar les restriccions dels consumidors i establir el que nosaltres anomenem discriminació de preus quasi-perfecte. Si encara és més important comprar el producte, els efectes generals del benestar dependràn en el panorama de la compètencia i en les característiques de la massa de consumidors. Hi pot haver efectes positius per als consumidors, pero estarán subjectes a suposicions concretes. La que presenta un major repte per a l’anàlisi anti-monopoli és l’accés a les dades i a la interacció entre compañíes al detall i “brokers” de dades. Part del nostre treball aplica la discussió teórica al sector d’assegurances.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2016-2017
Welfare effects of price discrimination : the impact of big data
info:eu-repo/semantics/masterThesis
THUMBNAIL
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BrancoBrossard TFM2017.pdf
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10230/33468
oai:repositori.upf.edu:10230/33468
2018-01-24 09:36:54.822
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/334692018-01-24T08:36:56Zcom_10230_26995com_10230_16441col_10230_26999
Quintanilha Barbosa, Vitor
2017-12-13T09:45:36Z
2017-12-13T09:45:36Z
2017
http://hdl.handle.net/10230/33469
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Hannes Mueller ; Joan Llull
We analyze the impact of the construction of bike lanes in Barcelona during 2015 and
2016 on the number of trips of a public bicycle-share system. We use different
specifications of control groups and also different distances of impact for the new lanes.
Using different econometric models we find robust effects when considering short
distances (200m) that goes from 3.8% to around 5.7%in the number of trips. We find less
convincing evidence for higher distances, what could indicate either absence of effect or
the possibility of a displacement effect between stations.
Analitzem l'impacte de la construcció de carrils bici a Barcelona durant els anys 2015 i
2016 en el nombre de viatges d'un sistema públic de bicicletes compartits. Utilitzem
diferents especificacions dels grups de control i també distàncies d'impacte diferents per
als nous carrils. Mitjançant models economètrics diferents, es constaten uns efectes
robusts al considerar distàncies curtes (200 m) que van del 3,8% al 5,7% en el nombre
de viatges. Determinem proves menys convincents per a distàncies més altes, el que
podria indicar una absència d'efecte o la possibilitat d'un desplaçament entre les
estacions.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Bike lane impact
Cycling infraestructure
Bicycle-share system
Impacte carril bici
Infraestructura de ciclisme
Sistema de bicicletes compartides
Treball de fi de màster – Curs 2016-2017
Measuring the impact of bike lanes in the number of bikeshare trips in Barcelona
info:eu-repo/semantics/masterThesis
THUMBNAIL
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Barbosa TFM2017.pdf
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application/pdf
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10230/33469
oai:repositori.upf.edu:10230/33469
2018-01-24 09:36:56.586
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/358942018-11-30T02:31:10Zcom_10230_26995com_10230_16441col_10230_26999
Brekelmans, Sybrand J.
Sanz Marin, Guillermo
Tomassetti, Luca
2018-11-29T12:43:22Z
2018-11-29T12:43:22Z
2018
http://hdl.handle.net/10230/35894
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Joan Llull
In this paper, we study the dynamics and drivers of sovereign bond yields in euro area countries, using a panel data and a time varying coefficient approach with GARCH volatility, which allows for capturing changes in the pricing mechanism of bond yields. Our key contribution is the inclusion of new fiscal variables as determinants of yields in the Eurozone as a whole, which were discarded by other methods and older data sets. Furthermore, our findings confirm that after the period of divergence in interest rates caused by a refocus on fundamentals, Eurozone interest rates converged again under the effect of a normalization of bond yield drivers back to pre-crisis levels. This implies that in times of economic uncertainty when default risk becomes an issue, interest rate effects of government policy can become significant leading to accentuated crowding out effects. Finally, our analysis provides a new methodological framework which discards panel data approaches to answer questions similar to ours.
En aquest article, estudiem les dinàmiques i els impulsors de rendiments de bons sobirans als països de la zona de l'euro, utilitzant dades de panell i un enfocament de coeficient variable en el temps amb la volatilitat de GARCH, que permet capturar canvis en el mecanisme de preus dels rendiments dels bons. La nostra principal contribució és la inclusió de noves variables fiscals com a determinants dels rendiments a l’Eurozona com a unitat, variables que foren descartes per d'altres mètodes i conjunts de dades més antics. A més, els nostres resultats confirmen que després d’un període de divergència en els tipus d'interès causats per un enfocament en els fonaments, els tipus d'interès de la Zona Euro tornaren a convergir sota l'efecte d'una normalització dels impulsors de rendiment de bons fins als nivells previs a la crisi. Això implica que en moments d'incertesa econòmica quan el risc d’impagament es converteix en un problema, els efectes de tipus d'interès de les polítiques governamentals poden arribar a ser significatius, donant lloc a efectes d'exclusió agreujats. Finalment, la nostra anàlisi proporciona un nou marc metodològic que descarta els enfocaments de dades del panell per respondre preguntes similars a les nostres.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Tipus d'interès
Interest rates
Crisis financeres
Financial crises
Bons
Bonds
The dynamic relationship between long term interest rates and fiscal stances in the EMU
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/35894
oai:repositori.upf.edu:10230/35894
2018-11-30 03:31:10.407
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/358952018-11-30T02:31:12Zcom_10230_26995com_10230_16441col_10230_26999
Colombo, Karina
Lohner, Gabrielle
Ramirez-Diaz, Eric
2018-11-29T13:05:16Z
2018-11-29T13:05:16Z
2018
http://hdl.handle.net/10230/35895
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Joan Llull ; Ada Ferrer-i-Carbonell
This paper analyzes the impact of a cash transfer program targeting households in extreme poverty, Tarjeta Uruguay Social, on a variety of life outcomes. A fuzzy Regression Discontinuity Design is implemented by using administrative data for the period 2013-2017, exploiting a doubling of the transfer to the poorest members of the program based on a poverty score. The results show significant improvements in both household and individual outcomes, specifically regarding dwelling attributes, durable goods, and formal work. Our results highlight the significant impact that the amount of the transfer and duration of the benefit have on the treatment effects.
Aquest article analitza l’impacte d’un programa de transferències d’efectiu dirigit a llars en pobresa extrema, Tarjeta Uruguay Social, en una varietat de resultats de vida. S’implementa un disseny de discontinuïtat de regressió borrosa utilitzant dades administratives del període 2013-2017, explotant una duplicació de la transferència als membres més pobres del programa, basant-se en una puntuació de pobresa. Els resultats mostren millores significatives tant en els resultats de llars com d’individus, específicament en relació a atributs d’habitatge, bens durables i treball formal. Els nostres resultats remarquen l’impacte significatiu que tenen l’import de la transferència i la durada de l’ajut sobre els efectes de tractament.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Pobresa
Poverty
Cash transfer
Regression discontinuity
Discontinuïtat de regressió
Transferència en efectiu
The impact of a cash transfer program on life outcomes : evidence from Uruguay
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/35895
oai:repositori.upf.edu:10230/35895
2018-11-30 03:31:12.54
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/358962018-11-30T02:31:09Zcom_10230_26995com_10230_16441col_10230_26999
Cooper, Matthew G.
Fina, Davide
2018-11-29T13:26:09Z
2018-11-29T13:26:09Z
2018
http://hdl.handle.net/10230/35896
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Anna Merino
This paper investigates whether news broadcaster mergers can lead to reduction the plurality of viewpoints offered in the market. The existing academic literature downplays this risk by demonstrating that the incentive to reduce plurality is independent of market structure. We investigate this claim by taking aim at a pivotal, yet overlooked, assumption in the literature of media markets: that news broadcasters are “opinion-takers”. We find that when news broadcasters have opinion-setting power, such as the ability to influence to political ideologies of their audiences, a horizontally adjacent broadcasting merger may create economic incentives to reduce the plurality of viewpoints offered to the market.
Aquest treball investiga si les fusions de mitjans de comunicació poden comportar una reducció de la pluralitat d’opinions que s’ofereixen al mercat. La literatura acadèmica existent al respecte minimitza aquest risc, demostrant que l’incentiu per reduir la pluralitat és independent de l’estructura de mercat. Nosaltres investiguem aquesta afirmació tot apuntant a una fonamental, malgrat que ignorada, suposició en la literatura del mercat de mitjans: que les cadenes de notícies són “prenedors d’opinions”. Trobem que, quan les cadenes de notícies tenen el poder d’establir opinió, com ara, la capacitat d’influenciar ideologies polítiques en les seves audiències, una fusió horitzontal adjacent pot crear incentius econòmics per tal de reduir la pluralitat d’opinions que s’ofereixen al mercat.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Fusions – En els mitjans de comunicació de massa
Mergers – Mass media
Media plurality : a theory of harm?
info:eu-repo/semantics/masterThesis
THUMBNAIL
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oai:repositori.upf.edu:10230/35896
2018-11-30 03:31:09.3
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/358982018-11-30T02:31:08Zcom_10230_26995com_10230_16441col_10230_26999
Elizondo, Hazel
Flores, Sandra
Quinto, Alicia de
2018-11-29T14:07:06Z
2018-11-29T14:07:06Z
2018
http://hdl.handle.net/10230/35898
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Joan Llull i Ada Ferrer
This study attempts to analyze the effect of the non-contributory Costa Rican pension in employment, schooling, household composition and changes in well-being at household level. This regime has been granted since 1975 to elders aged above 65 that live in extreme poverty situation. In 2007 the pension experimented an increase in their amount by 186%, this with the aim to mitigate poverty in this population. Using data from the National Institute of Statistics and Census (INEC for its acronym in Spanish) in the period 2001-2009 we analyze whether households that receive the pension exhibit changes in labor force supply, household composition and well-being. The methodology applied includes a difference-in-differences model (DD), that compares households with members above 65 years before and after 2007. Then, exploiting a discontinuity in the treatment regarding the age of the oldest household member, we applied a Regression Discontinuity Fuzzy Design (RD) and a Difference in Discontinuity Design (diff-in-disc). Findings in the DD method suggest an impact of the pension on the labor outcomes for the receiver households, showing a decrease on the hours worked, labor force participation, labor income and child work. Regarding the two left methods, there is no evidence of impacts triggered by the non-contributory pension.
Aquest estudi intenta analitzar l’efecte de la pensió no contributiva de Costa Rica a l’ocupació, l’escolarització, la composició de les llars i els canvis en el benestar a nivell de les llars. Aquest règim s’ha garantit des de 1975 a la gent gran major de 65 anys que viuen en situació de pobresa extrema. Al 2007 la pensió va experimentar un increment del 186% del seu import, amb l’objectiu de mitigar la pobresa en aquesta població. Utilitzant dades de l’Institut Nacional d’Estadística i Censos (INEC per l’acrònim en espanyol) del període 2001-2009 analitzem si les llars que reben la pensió mostren canvis en l’oferta laboral, composició de la llar i benestar. La metodologia aplicada inclou un model diferències en diferències (DD) que compara llars amb membres majors de 65 anys abans i després de 2007. A continuació, explotant una discontinuïtat en el tractament en relació a l’edat del membre de major edat de la llar, hem aplicat un disseny borrós de regressió discontínua (RD) i un disseny de discontinuïtat en diferència (diff-in-disc). Els resultats en el mètode DD suggereixen un impacte de la pensió en els outcomes de treball per a les llars receptores, mostrant un decreixement en les hores treballades, la participació en la mà d’obra, els ingressos del treball i el treball infantil. En relació amb els altres dos mètodes, no hi ha evidència dels impactes provocats per la pensió no contributiva.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Pensions no contributives
Non-contributory pensions
Benestar
Well-being
Mercat de treball
Labor supply
Regressió discontínua
Regression discontinuity
The impact of non-contributory pensions : a case study for Costa Rica
info:eu-repo/semantics/masterThesis
THUMBNAIL
Pensions TFMSEA2018.pdf.jpg
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Pensions TFMSEA2018.pdf.txt
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ORIGINAL
Pensions TFMSEA2018.pdf
Pensions TFMSEA2018.pdf
application/pdf
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10230/35898
oai:repositori.upf.edu:10230/35898
2018-11-30 03:31:08.358
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359162018-12-01T02:30:53Zcom_10230_26995com_10230_16441col_10230_26999
Gardner, Frederic Luke
Tucci, Ilaria
2018-11-30T10:29:22Z
2018-11-30T10:29:22Z
2018
http://hdl.handle.net/10230/35916
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directora: Anna Merino
The application of Article 102 to rebates has been chaotic and entrenched in an object-based approach. This is fundamentally awed because it ignores the material economic effects that may arise from rebates. Although they have the ability to be anti-competitive and foreclose rivals, there exists the potential for an offsetting pro-competitive scope which can make consumers better off overall. The Intel case offers the perfect opportunity to adopt a new legal standard which eliminates the unnecessary segregation of different types of rebates and opens the door to an effects-based approach. We use information on the economics of rebates and elements of competition policy to suggest a framework for analyzing rebates under an effects-based approach. This framework is then briefly applied to two current and controversial rebate cases: Intel and Qualcomm.
L’aplicació de l’Article 102 en reemborsaments ha estat caòtic i atrinxerat en un punt de vista basant en l’objecte, fet bàsicament sorprenent ja que ignora els efectes econòmics concrets que puguin sorgir dels reemborsaments. Tot i tenir la capacitat dels reemborsaments de ser anti competitius i d’excloure els rivals, existeix el potencial que sorgeixi un àmbit pro-competitiu compensatori que afavoreixi els consumidors en general. El cas d’Intel ofereix una autèntica oportunitat d’adoptar un nou marc legal que elimini les segregacions innecessàries de diferents tipus de reemborsaments i que obri una porta a un enfoc basat en els efectes. Utilitzem informació dels reemborsaments econòmics i elements de polítiques de la competència per suggerir un marc des d’analitzar els reemborsaments sota un enfocament basat en efectes. Subseqüentment, apliquem breument aquest marc a dos casos actuals i controvertits sobre els reemborsaments: Intel i Qualcomm.
Submitted by Montserrat FERNÁNDEZ TEIXIDÓ (montserrat.fernandez@upf.edu) on 2018-11-30T10:29:22Z
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Reimbursements
Object-based approach
Competitive scope
Reemborsament
Enfoc basat en objectes
Àmbit competitiu
Dominance assessment post-Intel : towards an effects-based approach of art. 102 cases
info:eu-repo/semantics/masterThesis
THUMBNAIL
Dominance TFMSEA2018.pdf.jpg
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ORIGINAL
Dominance TFMSEA2018.pdf
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10230/35916
oai:repositori.upf.edu:10230/35916
2018-12-01 03:30:53.217
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359172018-12-01T02:31:03Zcom_10230_26995com_10230_16441col_10230_26999
Gómez Urda, Mercedes
Khokhlova, Kseniia
Stamatia, Kontopoulou
2018-11-30T10:49:05Z
2018-11-30T10:49:05Z
2018
http://hdl.handle.net/10230/35917
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Joan Llull
We combine the basic Diamond (1982), Mortensen (1982), and Pissarides (1985) (DMP) labor market matching model with the one proposed by Autor et al. (2006) to analyze the labor market equilibria in a framework with frictions, where automation is introduced as an increase in the labor-replacing capital. Identical productivities of routine and manual workers, do generate significant increases in unemployment in routine tasks and a subsequent fall in the labor income share of this sector. Complementarity of labor-replacing capital on university graduates is not detected because of a no profitability mechanism but evidence of substitutability of lower-skilled workers is captured, after controlling for changes in labor force bases. By construction, the model fails to detect wage polarization, but it provides evidence of skilled-biased wage premia.
Combinem el model corresponent de mercat ocupacional basic de Diamond (1982), Mortensen (1982), i Pissarides (1985) (DMP) amb el que proposen Autor et al. (2006) per analitzar l’equilibri del mercat ocupacional en un context amb friccions, on l’automació és presentada com un increment en el capital substitutiu de l’ocupació. Rendiments idèntics de treballadors amb tasques rutinàries o manuals generen augments significatius en desocupació en tasques rutinàries i la subseqüent caiguda de la part de la renta ocupacional del sector. La complementarietat del capital substitutiu del treball en graduats universitaris no és identificada degut al mecanisme de no-rendibilitat, però sí es recull evidència de la capacitat de substituir treballadors menys qualificats, després de controlar les variacions en les bases de la força laboral. Estructuralment, el model no detecta la polarització salarial, però mostra evidència de bonificacions salarials basades en l’experiència.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Automatització
Polarització col·lectiva
Polarization (Social sciences)
Treballadors qualificats
Skilled labor
Automation
Automation and polarization in the labor market
info:eu-repo/semantics/masterThesis
THUMBNAIL
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Automation TFMSEA2018.pdf.txt
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ORIGINAL
Automation TFMSEA2018.pdf
Automation TFMSEA2018.pdf
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10230/35917
oai:repositori.upf.edu:10230/35917
2018-12-01 03:31:03.073
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359182018-12-01T02:30:51Zcom_10230_26995com_10230_16441col_10230_26999
Guerrero Putz, Samantha Catalina
Peya Ballesteros, Josep
2018-11-30T11:17:48Z
2018-11-30T11:17:48Z
2018
http://hdl.handle.net/10230/35918
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directora: Anna Merino
Under the context of digital platforms who act as an intermediary between consumers and sellers, Price Parity Clauses (PPCs) is a contractual restriction for the seller not to sell at a lower price through any other channel (the so-called wide PPCs), or only in its own channel (narrow PPCs). These clauses present a trade-off between efficiencies and anticompetitive effects. On one side, PPCs act as a committing device of the seller to solve the show-rooming effect suffered by platforms (a particular form of free-riding), at the same time that it ensures platforms viability and enhances its incentives to invest and innovate. On the other side, PPCs allow platforms to charge higher fees, and lead to foreclosure of the market. Currently, neither the EC nor NCAs have set a clear guidance on how to assess these clauses. The main contribution of this paper is to set a legal standard for both wide and narrow PPCs using the cost-error analysis. The conclusions we arrived to are that wide PPCs should be per se illegal; and narrow PPCs should be presumed legal unless proven otherwise, except if narrow PPCs are eliminating the competitive restraints of the platform, in which case the standard should be that of rebuttable presumption of illegality.
Sota el context de les plataformes digitals que actuen com intermediàries entre els consumidors i els venedors, les Clàusules paritàries de preus (CPPs) són una restricció contractual que fan que el venedor no vengui a un preu més baix mitjançant un altre canal (els anomenats CPPs àmplies), o només a través del seu propi canal (CPP’s restrictives). Aquestes clàusules representen una solució intermèdia entre les eficiències i els efectes anti-competitius.
Per una banda, les CPPs actuen com un dispositiu pel qual el venedor es compromet a solucionar l’efecte “aparador” que pateixen les plataformes (una forma particular d’oportunisme), al mateix temps que assegura viabilitat a les plataformes i millora els seus incentius per invertir i innovar. Per l’altra banda, les CPPs permeten que les plataformes cobrin tarifes més altes, i portin a l’exclusió del mercat. En l’actualitat, ni la Comunitat Europea, ni les associacions nacionals de consumidors han establer una guia clara de com avaluar aquestes clàusules. La principal contribució d’aquest informe es establir una normativa legal tant per les CPPs àmplies com les restrictives, utilitzant l’anàlisi de costos i errors. Les conclusions a les que vam arribar són que les CPPs àmplies haurien de ser il·legals “per se”, i que les CPPs restrictives s’haurien de considerar com a legals a menys que es provi el contrari, excepte si les CPPs restrictives estiguin eliminant les restriccions competitives de les plataformes. En aquest cas, la normativa hauria de ser d’una presumpció d’il·legalitat refutable.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Digital platforms
Plataformes digitals
Clàusules paritàries de preus (CPPs)
Price parity clauses (PPCs)
Il·legalitat
Unlawfullness
Dret – Interpretació
Price parity clauses : setting a new legal standard
info:eu-repo/semantics/masterThesis
THUMBNAIL
Price TFMSEA2018.pdf.jpg
Price TFMSEA2018.pdf.jpg
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TEXT
Price TFMSEA2018.pdf.txt
Price TFMSEA2018.pdf.txt
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ORIGINAL
Price TFMSEA2018.pdf
Price TFMSEA2018.pdf
application/pdf
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10230/35918
oai:repositori.upf.edu:10230/35918
2018-12-01 03:30:51.819
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359202018-12-01T02:30:56Zcom_10230_26995com_10230_16441col_10230_26999
Deb, Deepshikha
Handler, Nils
Peciar, Vladimír
Proka, Ksenia
Stolle, Juliane
2018-11-30T12:31:49Z
2018-11-30T12:31:49Z
2018
http://hdl.handle.net/10230/35920
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner; Antonio Ciccone; Jaume Ventura
This paper analyzes whether access to imported intermediate goods can raise export performance of Russian firms. We employ an instrumental variable strategy which exploits variation in firm-specific input tariffs to identify the effect of imported intermediates on firm exports during the period 2007-2013, utilizing a unique firm-level database on firm characteristics and customs declarations. Our results suggest that with the rising globalization and fragmentation of production processes, countries interested in raising exports need to think strategically of promoting imports as well. We propose and discuss several policy measures for Russia in the areas of tariff regulation, non-tariff measures, trade facilitation and trade integration.
Aquest article analitza si l'accés a la importació de béns intermedis pot augmentar el rendiment d'exportació d'empreses russes. Fem servir una estratègia variable instrumental que explota la variació en les tarifes d'entrada específiques de l'empresa per identificar l'efecte dels intermedis importats en exportacions d’empreses durant el període 2007- 2013, utilitzant una única base de dades a nivell d'empresa sobre característiques d’empreses i declaracions duaneres. Els nostres resultats suggereixen que amb la creixent globalització i fragmentació dels processos de producció, els països interessats a augmentar les exportacions han de pensar estratègicament per promoure també les importacions. Proposem i discutim diverses mesures de política per a Rússia en els àmbits de la regulació de tarifa, mesures no aranzelàries, facilitació del comerç i integració del comerç.
Submitted by Montserrat FERNÁNDEZ TEIXIDÓ (montserrat.fernandez@upf.edu) on 2018-11-30T12:31:49Z
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application/pdf
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Importacions
Imports
Exportacions
Exports
Béns intermedis
Intermediate goods
Comerç exterior
Empreses – Rússia (Federació)
Can import promotion increase export performance in times of global value chains? Firm-level evidence from Russia
info:eu-repo/semantics/masterThesis
THUMBNAIL
Import TFMSEA2018.pdf.jpg
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IM Thumbnail
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Import TFMSEA2018.pdf.txt
Import TFMSEA2018.pdf.txt
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ORIGINAL
Import TFMSEA2018.pdf
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MD5
1
10230/35920
oai:repositori.upf.edu:10230/35920
2018-12-01 03:30:56.528
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359272018-12-01T02:30:54Zcom_10230_26995com_10230_16441col_10230_26999
Exarchos, Orestis
Öztunc, Jonathan
Pape, Niklas
Sgariglia, Roberta
Tewari, Krishna
2018-11-30T12:57:02Z
2018-11-30T12:57:02Z
2018
http://hdl.handle.net/10230/35927
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner; Antonio Ciccone; Jaume Ventura
In this thesis, we provide evidence on the transmission of U.S. monetary policy shocks to the Korean economy. First, we show that there are spillovers of U.S. monetary policy shocks to Korean domestic credit and real economic conditions. We find a drop in credit supply, an increase in lending rate, risk premia and a drop in asset prices in response to U.S. monetary policy shocks. Thereafter, we calculate the response of different capital inflows and outflows to identify which capital flows are likely to transmit the monetary policy shock. In line with the theory, we find that portfolio debt securities and especially short term banking flows drop significantly in response to U.S. monetary policy shocks.
En aquesta tesi, proporcionem evidència de la transmissió dels xocs de la política monetària dels EUA a l'economia coreana. En primer lloc, ens mostren que hi ha efectes secundaris dels xocs de la política monetària dels EUA al crèdit nacional coreà i condicions econòmiques reals. Trobem una baixada en l'oferta de crèdit, un augment en la taxa d'interès, primes de risc i una disminució en les preus dels actius en resposta als xocs de la política monetària dels Estats Units. Per tant, calculem la resposta de diferents entrades i sortides de capital per identificar quins fluxos de capital són propensos a transmetre el xoc de la política monetària. En consonància amb la teoria, trobem que els títols de deute en cartera i especialment els fluxos bancaris a curt termini cauen significativament en resposta als xocs de la política monetària dels Estats Units.
Submitted by Montserrat FERNÁNDEZ TEIXIDÓ (montserrat.fernandez@upf.edu) on 2018-11-30T12:57:02Z
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Política monetària
Monetary policy
International capital flows
Moviments de capital
Capital movements
Estats Units d'Amèrica
United States of America
Corea
Korea
Implications of U.S. monetary policy normalization on international capital flows : evidence from South Korea
info:eu-repo/semantics/masterThesis
THUMBNAIL
SouthKorea TFMSEA2018.pdf.jpg
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SouthKorea TFMSEA2018.pdf.txt
SouthKorea TFMSEA2018.pdf.txt
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ORIGINAL
SouthKorea TFMSEA2018.pdf
SouthKorea TFMSEA2018.pdf
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10230/35927
oai:repositori.upf.edu:10230/35927
2018-12-01 03:30:54.56
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359282018-12-01T02:30:57Zcom_10230_26995com_10230_16441col_10230_26999
Jones, Samuel
Mahajan, Annanya
Oliva, Maria
Reyna, Debora
Vila, Marta
2018-11-30T13:30:23Z
2018-11-30T13:30:23Z
2018
http://hdl.handle.net/10230/35928
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner; Antonio Ciccone; Jaume Ventura
We capitalise on the 2006 implementation of a minimum wage for the hospitality sector to make well-evidenced inferences about the impact of the upcoming National Minimum Wage (NMW) Legislation on low-wage workers. Our paper focuses on the two largest low-wage sectors currently without minimum wage regulation, which are manufacturing and construction. Two regression specifications and sensitivity analysis are used to provide insights into the implications for wages, hours worked, employment, formality and poverty rates. In light of our results and a comprehensive review of the literature, we conclude that the NMW will be largely beneficial for low-wage labourers. Our critical recommendation for policymakers is the need for complementary policies to ensure compliance and facilitate the transition of vulnerable groups (particularly black women) into the formal sector.
Aprofitem la implementació d'un salari mínim per al sector de l’hosteleria de 2006 per fer inferències ben contrastades sobre l'impacte de la futura legislació del salari mínim interprofessional (SMI) en els treballadors de baixos salaris. El nostre article se centra en els dos sectors més grans amb baixos salaris actualment sense regulació del salari mínim, que són la fabricació i la construcció. S’utilitzen dues especificacions de regressió i anàlisi de sensibilitat per proporcionar informació sobre les implicacions dels salaris, hores treballades, ocupació, taxes de formalitat i de pobresa. Davant els nostres resultats i una revisió exhaustiva de la literatura, podem concloure que l'SMI serà clarament beneficiós per als treballadors amb salaris baixos. La nostra recomanació crítica per als responsables de les polítiques és la necessitat de polítiques complementàries per assegurar el compliment i facilitar la transició de colꞏlectius vulnerables (especialment les dones negres) en el sector formal.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
South Africa
República de Sud-àfrica
National Minimum Wage (NMW)
Salari mínim interprofessional (SMI)
Salaris
Wages
Salaris – Gestió
The effects of the South African minimum wage on labour market outcomes for low-income earners
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/35928
oai:repositori.upf.edu:10230/35928
2018-12-01 03:30:57.608
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359292018-12-01T02:30:58Zcom_10230_26995com_10230_16441col_10230_26999
Mac Mullen, Marcos
2018-11-30T13:45:08Z
2018-11-30T13:45:08Z
2018
http://hdl.handle.net/10230/35929
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Joan Llull
The goal of this paper is to assess quantitatively the impact that the emergence of China in the international markets during the 1990s had on the U.S. economy (i.e. the so-called China Shock). To do so, I build a model with two sectors producing two final goods, each of them using as the only input of production an intermediate good specific to each sector. Final goods are produced in a perfectly competitive environment. The intermediate goods are produced in a frictional environment with labor as the only input. First, I calibrate the close economy model to match some salient stylized facts from the 1980s in the U.S. Then to assess the China Shock I introduce a new country (China) in the international scene. I proceed with two calibration strategies: (i) calibrate China such that it matches the variation in the price of imports relative to the price of exports for the U.S. between the average of the 1980s and the average of 2005- 2007, (ii) Calibrate China such that variation in allocations are close to the ones observed in data, for the same window of time. I found that under calibration (i) the China Shock in the model explains 26.38% of the variation in the share of employment in the manufacturing sector, 16.28% of the variation in the share of manufacturing production and 27.40% of the variation in the share of wages of the manufacturing sector. Finally, under calibration (ii) I found that the change in relative price needed to match between 80 to 90 percent of the variation in allocations is around 3.47 times the one observed in data.
L’objectiu d’aquest treball és estimar de forma quantitativa l’impacte que el creixement de Xina tingué en l’economia dels EUA durant els anys noranta (és a dir, l’anomenat «Impacte Xinès»). Per fer-ho, he construït un model amb dos sectors que produeixen dos béns finals, i on cadascun d’aquests sectors utilitza, com a única aportació a la producció, un bé intermedi a cada sector. Els béns finals es produeixen en un entorn plenament competitiu. Els béns intermedis es produeixen en un entorn de fricció amb la força laboral com la única aportació. En primer lloc, afino el model d’economia tancada per poder relacionar alguns fets estilitzats destacats dels anys vuitanta als EUA. Seguidament, per avaluar l’Impacte Xinès, introdueixo un nou país (la Xina) a l’escena internacional i continuo amb dues estratègies de calibratge: (i) calibro la Xina per tal que coincideixi amb la variació en el preu de les importacions relatiu al preu de les exportacions dels EUA entre la mitjana dels anys 80 i la mitjana de 2005-2007; (ii) calibro la Xina de tal manera que la variació en assignacions s’assembli a les que s’han observat en les dades, per la mateixa finestra de temps. Els resultats mostren que, sota el calibratge (i) l’Impacte Xinès en el model explica el 26.38% de la variació en la part d’ocupació en el sector manufacturer, 16.28% de la variació en la part de la producció manufacturera, i 27.40% en la variació en la part de sous del sector manufacturer. Finalment, en el calibratge (ii) trobo que el canvi en el preu relatiu necessari per igualar entre el 80-90% de la variació en assignacions es al voltant de 3.47 vegades a l’observada en les dades.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Impacte xinès
Màrqueting internacional
Export marketing
China shock
Labor markets, search frictions and international trade : assessing the China shock
info:eu-repo/semantics/masterThesis
THUMBNAIL
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McMullen TFMSEA2018.pdf
McMullen TFMSEA2018.pdf
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10230/35929
oai:repositori.upf.edu:10230/35929
2018-12-01 03:30:58.392
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359302018-12-01T02:30:59Zcom_10230_26995com_10230_16441col_10230_26999
Fabián Salazar, Alexis
2018-11-30T14:00:16Z
2018-11-30T14:00:16Z
2018
http://hdl.handle.net/10230/35930
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directora: Anna Merino
Regarding competition policy, there has been a concern about the use of algorithms to commit anticompetitive acts. As it is proven, the use of algorithms facilitates agreements, but at the same time, authorities may have incentives to invest in equipment to pursue this conduct. But recent literature has been leaving aside important issues: (i) the complexities to sanction cartels that use algorithms, and (ii) the specific benefit that algorithms can bring to authorities. These difficulties are not arguments for agencies to not use algorithms. In fact, the use of them can be important trough investigation process, obtaining results automatically, giving a better allocation of resources, developing continuous information and constantly monitor markets that have information available online.
En política de competències, hi ha hagut una preocupació sobre l'ús d'algoritmes per cometre actes anti-competitius. Com s’ha comprovat, l'ús d'algoritmes facilita els acords, però al mateix temps, les autoritats poden tenir incentius per invertir en equips que els ajudin a perseguir aquestes activitats. Però els estudis recents han deixat de costat problemes importants: (i) les complexitats per sancionar càrtels que utilitzen algoritmes, i (ii) el benefici específic que els algoritmes poden aportar a les autoritats. Aquestes dificultats no justifiquen que les agències no usin algoritmes. De fet, la seva utilització pot ser important al llarg dels processos d'investigació obtenint resultats automàticament, assignant els recursos de millor manera, desenvolupant una informació contínua i monitoritzant constantment els mercats que tenen la informació disponible en línia.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Algorismes
Algorithms
Anti-competitive acts
Actes anti-competitius
Competència econòmica
Competition
How data science, algorithms and machine learning can help antitrust agencies? A collusion perspective
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/35930
oai:repositori.upf.edu:10230/35930
2018-12-01 03:30:59.36
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/359312018-12-03T13:59:22Zcom_10230_26995com_10230_16441col_10230_26999
Buthada, Nikhil
Miró i Escolà, Marc
Müller-Demary, Daniel
2018-11-30T14:11:37Z
2018-11-30T14:11:37Z
2018
http://hdl.handle.net/10230/35931
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Ada Ferrer i Carbonell; Hannes Mueller
Given the increased use and dependence of peer-to-peer markets on algorithmic optimisation processes, the problems biased algorithms may bring about for individuals have been gaining significance. With the emergence of the sharing economy, more people can be subjected to damaging allocation systems. This paper makes a first attempt to connect the notion of bias, frequently discussed in computer science, with classic problems of systematic discrimination observed in labour markets. Following the methods used in identifying such biases, the authors discuss aspects of equity and efficiency that arise from different matching mechanisms. In offering a framework for analysing the algorithms present in such markets, the authors conclude that any verdict depends on the normative stance of the reviewer, leaving the reader with a set of questions and directions for future research.
Donat l’increment de l’ús i la dependència dels mercats peer-to-peer (mercats entre pars) de processos d’optimització algorítmica, els problemes que poden ocasionar els algoritmes esbiaixats per als individus han estat guanyant importància. Amb l’emergència de l’economia col·laborativa, més gent pot estar subjecte a sistemes d’assignació perjudicial. Aquest article fa un primer intent de connectar la noció de biaix, freqüentment discutit en la ciència informàtica, amb els problemes clàssics de discriminació sistemàtica observats als mercats de treball. Seguint els mètodes utilitzats en identificar aquests biaixos, els autors discuteixen aspectes com l’equitat i l’eficiència que sorgeixen de diferents mecanismes d’emparellament. En oferir un marc per a analitzar els algoritmes presents en aquests mercats, els autors conclouen que qualsevol veredicte depèn de la posició normativa del revisor, deixant el lector amb una sèrie de preguntes i direccions per a futura recerca.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2017-2018
Economia col·laborativa
Mercats entre pars
Acoblament, Teoria de
Matching theory
Algorismes
Sharing--Economic aspects
Peer-to-peer markets
Algorithms
The implications of algorithms in rental markets with matching mechanisms : the role of exposure, choice and efficiency in the sharing economy
info:eu-repo/semantics/masterThesis
THUMBNAIL
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Implications TFMSEA2018.pdf
Implications TFMSEA2018.pdf
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10230/35931
oai:repositori.upf.edu:10230/35931
2018-12-03 14:59:22.459
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433082020-01-21T02:30:56Zcom_10230_26995com_10230_16441col_10230_26999
Schwartz, Moritz
2020-01-20T10:27:00Z
2020-01-20T10:27:00Z
2019
http://hdl.handle.net/10230/43308
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Anna Merino
Has economic analysis in EU merger control advanced as policymakers promised since the modernization in 2004? Based on a novel data set obtained by web scraping and optical character recognition, I find that there was indeed, an increase in the usage of quantitative techniques typically involving economists. This could be explained by the trend to longer and more complex cases, which I document. Moreover, adoption of new techniques occurred timely, which suggests that the Commission quickly follows up on the latest economic research. I also propose using Latent Dirichlet Allocation to delineate topics within merger decisions. Since the number of cases is driven by a small set of industries, topic allocation is overly influenced by industry-specific vocabulary. Thus, and also because economic and legal analysis co-occur, they cannot be separated into different topics by the given machine learning algorithm.
Ha avançat, tal i com van prometre els responsables polítics, L’anàlisi econòmica del control de fusions de la UE, des de la seva modernització l’any 2004? Basant-me en un nou conjunt de dades obtingut mitjançant el web scraping i el reconeixement òptic de caràcters, trobo que realment hi va haver, un augment en l'ús de tècniques quantitatives que típicament involucren als economistes. Això es podria explicar vista la tendència de casos més llargs i complexos, que documento. A més, l’adopció de
noves tècniques va donar-se en el moment oportú, cosa que suggereix que la
Comissió realitza un ràpid seguiment de les últimes investigacions econòmiques. També proposo utilitzar la Latent Dirichet Allocation per delinear temes dins de les decisions sobre fusions. Donat que el nombre de casos és impulsat per un petit conjunt d’indústries, l’assignació de temes està massa influïda per vocabulari específic d’aquestes indústries. Per tant, i donat alhora perquè les anàlisis econòmica i legal es donen en paral·lel, no poden ser separades en diferents temes pel seu algoritme d’aprenentatge automàtic.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Formulació de polítiques
Autoritat de la competència
Fusió
Policy formulation
Competition authority
Merger
Economic analysis in EU merger control : a natural language processing approach
info:eu-repo/semantics/masterThesis
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10230/43308
oai:repositori.upf.edu:10230/43308
2020-01-21 03:30:56.024
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433092020-01-21T02:30:56Zcom_10230_26995com_10230_16441col_10230_26999
Bolduc, Daniel
Daboin, Jesús
McCrum, Ryan
Ríos, Gabriel
Velandia, Juan
2020-01-20T11:34:54Z
2020-01-20T11:34:54Z
2019
http://hdl.handle.net/10230/43309
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner, Antonio Ciccone
The purpose of this paper is to assess the effect of political connections on fiscal outcomes and economic growth. Using municipal electoral data, we employ a Regression Discontinuity Design, which gives more weight to close electoral outcomes in Colombia. We find that those politically connected to the national ruling party experience a boost of economic growth and receive more current transfers. These effects are concentrated in those municipalities that keep the political connection versus those which recently lost it. Since there are no significant results on capital transfers, we speculate on potential mechanisms that could be driving these results.
El propósito de esta investigación es evaluar el efecto de las conexiones políticas en variables fiscales y en crecimiento económico. Utilizando datos electorales municipales, utilizamos un Diseño de Discontinuidad que le atribuye más peso a las observaciones con márgenes cerrados en Colombia. Encontramos que aquellos alcaldes conectados al partido que gobierna nacionalmente crecen más rápido y reciben más transferencias corrientes. Los efectos están concentrados en municipios que mantuvieron la conexión versus aquellos que recién la perdieron. Ya que no hay resultados significativos en transferencias de capital, especulamos sobre los mecanismos potenciales que llevan a estos resultados.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Political economy
Colombia
Economic growth
Desenvolupament econòmic
Economia
Political connections, decentralization and economic growth : evidence from Colombian municipalities
info:eu-repo/semantics/masterThesis
THUMBNAIL
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Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433102020-01-21T02:30:57Zcom_10230_26995com_10230_16441col_10230_26999
Álvarez, Sofía
Barczay, Michael
Galambos, Guadalupe
Sandler, Ina
Schmidt, Rasmus
2020-01-20T12:00:41Z
2020-01-20T12:00:41Z
2019
http://hdl.handle.net/10230/43310
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner, Antonio Ciccone
Whereas monetary policy in the euro area is conducted by one single authority, the European Central Bank (ECB), the real effects of these decisions provoke different reactions among the set of targeted countries. An explanation for this finding is structural heterogeneity across the members of the eurozone. This paper assesses how commercial bank interconnectedness affects the propagation of monetary policy shocks across the euro countries between 2003 and 2018. We construct a panel data set of 12 euro area countries and identify exogenous monetary policy shocks using high-frequency data. Employing local projections, we find evidence that – in accordance with the theory – a contractionary monetary policy surprise leads to a reduction in the supply of loans in countries with a low degree of interconnectedness. Conversely, when the banking sector is highly interconnected, the impact of monetary policy is reduced and can even be reversed. This implies that a common monetary policy shock can have heterogeneous effects among countries of the euro area, depending on the degree of interconnectedness of their banking industries.
La política monetaria en la eurozona es desarrollada por una única autoridad, el Banco Central Europeo (BCE). Sin embargo, los efectos reales de sus decisiones provocan reacciones diferentes entre los distintos países. Una explicación común a este fenómeno es la heterogeneidad estructural entre los países miembros. Este trabajo analiza cómo la interconectividad de los bancos comerciales afecta a la propagación de los shocks de política monetaria en los países de la zona del euro entre 2003 y 2018. Construimos un panel de datos incluyendo 12 países de la unión monetaria e identificamos shocks exógenos de política monetaria usando datos de alta frecuencia. Mediante proyecciones locales, encontramos que – de acuerdo con la teoría – una política monetaria contractiva da lugar a una reducción en la oferta de préstamos en países con bajos niveles de interconectividad. Por el contrario, si el sector bancario de un país está muy interconectado, el impacto de la política monetaria se reduce llegando incluso a ser revertido. Esto implica que una política monetaria común puede tener efectos heterogéneos entre los países de la zona del euro, dependiendo del nivel de interconectividad de sus sectores bancarios.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Commercial bank interconnectedness
Monetary policy transmission
Heterogeneous monetary policy effects
Bancs comercials
Política monetària
Bank interconnectedness and monetary policy transmission : evidence from the euro area
info:eu-repo/semantics/masterThesis
THUMBNAIL
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oai:repositori.upf.edu:10230/43310
2020-01-21 03:30:57.417
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433112020-01-21T02:31:01Zcom_10230_26995com_10230_16441col_10230_26999
Ashikbayeva, Zhuldyz
Fürstenberg, Marei
Kapelari, Timo
Pierres, Albert
Thies, Stephan
2020-01-20T12:37:49Z
2020-01-20T12:37:49Z
2019
http://hdl.handle.net/10230/43311
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner, Antonio Ciccone
This thesis studies the impacts of flooding on income and expenditures of rural households in northeast Thailand. It explores and compares shock coping strategies and identifies household level differences in flood resilience. Drawing on unique household panel data collected between 2007 and 2016, we exploit random spatio-temporal variation in flood intensities on the village level to identify the causal impacts of flooding on households. Two objective measures for flood intensities are derived from satellite data and employed in the analysis. Both proposed measures rely on the percentage area inundated in the surrounding of a village, but the second measure is standardized and expressed in comparison to the median village level flood exposure. We find that household incomes are negatively affected by floods. However, our results suggest that rather than absolute levels of flooding, deviations from median flood exposure are driving negative effects on households. This indicates a certain degree of adaptation to floods. Household expenditures for health and especially food rise in the aftermath of flooding. Lastly, we find that above primary school education helps to completely offset potential negative effects of flooding.
La presente tesis analiza el impacto de las inundaciones sobre el ingreso y consumo de los hogares rurales del noreste de Tailandia. El estudio, además, explora y compara las estrategias de adaptación e identifica diferencias en la resistencia a las inundaciones entre las familias. A partir de datos de panel sobre hogares obtenidos entre 2007 y 2016 exploramos variaciones espacio-temporales y aleatorias en la intensidad de las inundaciones a nivel de aldeas para así identificar el impacto causal de las inundaciones sobre los hogares. Para determinar la intensidad de las inundaciones, se desarrollan dos medidas objetivas a partir de datos satélite. Las dos medidas se basan en el porcentaje de área inundada en los alrededores de las aldeas, no obstante, la segunda medida se estandariza y expresa en comparación a la exposición mediana de cada aldea. Encontramos que el ingreso de las familias se ve afectado negativamente por las inundaciones, no obstante, los resultados sugieren que el determinante de los efectos negativos sobre los hogares no es el nivel absoluto de las inundaciones sino la desviación del nivel de inundaciones respecto a la mediana. Esto indica que existe un cierto grado de adaptación a las inundaciones recurrentes. En su lugar, el consumo de las familias en salud y alimentación aumentan una vez se han producido las inundaciones. Finalmente, encontramos que un nivel educativo superior a la educación primaria ayuda a compensar los potenciales efectos negativos de las inundaciones.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Inundacions
Floods
Household effects
Coping strategies
Estratègies d'adaptació
Household level effects of flooding : evidence from Thailand
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/43311
oai:repositori.upf.edu:10230/43311
2020-01-21 03:31:01.677
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433752020-01-23T02:31:07Zcom_10230_26995com_10230_16441col_10230_26999
Benítez, Leandro
Tórda, Ádám
2020-01-22T10:30:25Z
2020-01-22T10:30:25Z
2019
http://hdl.handle.net/10230/43375
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Anna Merino
This research arises in a context of strong debate on the effectiveness of merger control and how competition authorities assess the potential anticompetitive effects of mergers. In order to contribute to the discussion, we apply merger simulation – the most sophisticated and often used tool to assess unilateral effects – to predict the post-merger prices of the AB InBev / SAB-Miller merger in Argentina. The basic idea of merger simulation is to simulate post-merger equilibrium from estimated structural parameters of the demand and supply equations. Assuming that firms compete à la Bertrand, we use different discrete choice demand systems – Logit, Nested Logit and Random Coefficients Logit models – in order to test how sensible, the predictions are to changes in demand specification. Then, to get a measure of the precision of the method we compare these predictions with actual post-merger prices. Finally, to conclude, we point out the importance of post-merger evaluation of merger simulation methods applied in complex cases, as well as the advantages and limitations of using these type of demand models.
Aquesta investigació sorgeix en un context de fort debat sobre l'efectivitat del control de fusions i sobre com les autoritats de competència avaluen els efectes anticoncurrents de les fusions. Per contribuir a la discussió, apliquem la simulació de fusions, l’eina més sofisticada i utilitzada sovint per a avaluar els efectes unilaterals, per predir els preus posteriors a la fusió de la fusió AB InBev / SAB-Miller a l’Argentina. La idea bàsica de la simulació de fusions és simular l'equilibri post-fusió a partir dels paràmetres estructurals estimats de les equacions de demanda i oferta. Suposant que les empreses competeixen a l’estil Bertrand, utilitzem diferents sistemes de demanda d’elecció discreta (models Logit, Nested Logit i Random Coefficients Logit) per tal de provar com de raonables, les prediccions són canvis en l’especificació de la demanda. A continuació, per obtenir una mesura de la precisió del mètode, comparem aquestes prediccions amb els preus reals posteriors a la fusió. Finalment, per concloure, assenyalem la importància de l’avaluació posterior a la fusió dels mètodes de simulació de fusions aplicats en casos complexos, així com els avantatges i limitacions d’utilitzar aquest tipus de models de demanda.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Efectes unilaterals
Models d’elecció discreta
Simulació de fusió
Avaluació post-fusió
Unilateral effects
Discrete choice models
Merger simulation
Post-merger evaluation
Companyies consolidades
Evaluating the performance of merger simulation using different demand systems : Evidence from the Argentinian beer market
info:eu-repo/semantics/masterThesis
THUMBNAIL
2019_TFM_SEA_BenitezEvaluating.pdf.jpg
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10230/43375
oai:repositori.upf.edu:10230/43375
2020-01-23 03:31:07.943
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433762020-01-23T02:31:09Zcom_10230_26995com_10230_16441col_10230_26999
Ganeva, Ivana
Mohie, Rana
2020-01-22T11:06:18Z
2020-01-22T11:06:18Z
2019
http://hdl.handle.net/10230/43376
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Joan Llull
The following research project aims at comparing across often used and unconventional models on forecasting currency crises. The methods chosen to compare include the Binary Probit model as seen in Berg and Pattillo (1999), and the Markov-Switching Approach presented by Abiad (2007). The last model we focus on is essentially a Feed-Forward Artificial Neural Network, and we provide an extension to its usual ’financial’ form by adding means of learning techniques applied in image recognition that have not been used before. We achieve findings on the performance of the so-called conventional methods that are comparable with the results reported in the literature. However, we gain a tangible improvement on predictability when introducing a special form of clustering for our data, instead of relying on the separate country-by-country data sets. The latter alteration is in its essence a different interpretation of the definition of a currency crisis and, offers a ’middle ground’ for working with a large data set like ours. All our findings are empirical and are solely based on open-source data downloaded and modified from the IMF data bases1. Our initial data set includes observations on 33 countries which are later cut down to 17 due to data availability of the indicators of interest. We consider working on this amount of information simultaneously a potential step-ahead from previous relevant research, as the literature on the topic so far would usually consider only few countries at a time.
El següent projecte de recerca té com a objectiu la comparació entre models sovint usats i convencionals en la previsió de crisis monetàries. Els mètodes escollits de comparació inclouen el model binari de Probit segons es veu a Berg i Pattillo (1999); i l’enfocament Markov-Switching presentat per Abiad (2007) . El darrer model en què ens centrem és essencialment una xarxa neuronal artificial de control anticipat a la que li proporcionem una extensió a la seva forma “financera” habitual afegint-hi mitjans d’aprenentatge de tècniques aplicades en el reconeixement d’imatges que no s’han utilitzat abans. Aconseguim descobriments sobre el rendiment dels anomenats mètodes convencionals comparables amb els resultats reportats a la bibliografía. Tanmateix, obtenim una millora tangible de la predicció en introduir una forma especial d’agrupament per a les nostres dades, en lloc de confiar en els conjunts de dades separats per país. Aquesta última modificació és, en essència, una interpretació diferent de la definició de crisi monetària, i ofereix un punt mig per treballar amb un conjunt de dades gran com el nostre. Totes les conclusions són empíriques i es basen exclusivament en dades de codi obert descarregades i modificades de les bases de dades1 del FMI. El nostre conjunt de dades inicial inclou observacions sobre 33 països que després es redueixen a 17 segons la disponibilitat de dades dels indicadors d’interès. Considerem que poder treballar simultàniament amb aquesta quantitat d’informació és un possible avenç d’investigacions rellevants anteriors, ja que la literatura sobre el tema fins ara sol considerar només alguns països alhora.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Crisis financeres
Financial crises
Liquiditat (Economia)
Forecasting current crises : comparison of conventional methods and an artificial neural network model
info:eu-repo/semantics/masterThesis
THUMBNAIL
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oai:repositori.upf.edu:10230/43376
2020-01-23 03:31:09.754
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433772020-01-23T02:31:11Zcom_10230_26995com_10230_16441col_10230_26999
Sahore, Agrima
Jang, Ah-Young
Pang, Marjorie
2020-01-22T11:36:45Z
2020-01-22T11:36:45Z
2019
http://hdl.handle.net/10230/43377
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Ada Ferrer-i-Carbonell ; Joan Llull
Using household survey data from rural Bangladesh, we explore determinants of domestic violence. We propose two hypotheses: first, women suffer more domestic abuse as a result of marrying young; and second, women who are empowered suffer less gender-based violence. We isolate the causal effect of marriage timing using age at first menstruation and extreme weather as instruments; and the effect of empowerment using the number of types of informal credit sources as instrument. We find robust evidence contrary to our hypotheses. Our findings highlight that mere empowerment or increasing age at first marriage are insufficient mediums to combat gender-based violence and can in fact be counterproductive to reducing domestic violence against women, if the socio-economic context is not carefully considered.
Utilizando datos de encuestas de hogares de zonas rurales de Bangladesh, exploramos los determinantes de la violencia doméstica. Proponemos dos hipótesis: primero, las mujeres sufren más abuso doméstico como resultado de casarse con jóvenes; y segundo, las mujeres empoderadas sufren menos violencia de género. Aislamos el efecto causal del tiempo de matrimonio usando la edad en la primera menstruación y el clima extremo como instrumentos; y el efecto del empoderamiento utilizando el número de tipos de fuentes de crédito informales como instrumento. Encontramos evidencia sólida contraria a nuestras hipótesis. Nuestros hallazgos resaltan que el mero empoderamiento o el aumento de la edad en el primer matrimonio son medios insuficientes para combatir la violencia de género y, de hecho, pueden ser contraproducentes para reducir la violencia doméstica contra las mujeres, si el contexto socioeconómico no se considera cuidadosamente.
Submitted by Montserrat FERNÁNDEZ TEIXIDÓ (montserrat.fernandez@upf.edu) on 2020-01-22T11:36:45Z
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Violència familiar
Edat al primer matrimoni
Empoderament
Domestic violence
Empowerment
Age at first marriage
Women's status in rural Bangladesh : explotation and empowerment
info:eu-repo/semantics/masterThesis
THUMBNAIL
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2019_TFM_SEA_SahoreWomen..pdf
2019_TFM_SEA_SahoreWomen..pdf
application/pdf
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10230/43377
oai:repositori.upf.edu:10230/43377
2020-01-23 03:31:11.266
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/433782020-01-23T02:31:12Zcom_10230_26995com_10230_16441col_10230_26999
Armijos, Mary
Cuberta, Guillem
2020-01-22T15:26:24Z
2020-01-22T15:26:24Z
2019
http://hdl.handle.net/10230/43378
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Hannes Mueller i Ada Ferrer-i-Carbonell
This paper studies how policy uncertainty and political connection has affected Venezuelan banks’ performance and lending activities. We use monthly microdata from the Venezuela’s Superintendence of Banks and we construct two indices to exploit its variation. We find that in period of high economic policy uncertainty politically connected banks are willing to assimilate taking more risks and thus they give out more loans. Complementarily, the amount of provisions held for potential loses is also higher for connected banks during high uncertainty periods. Nevertheless, we find that having a political connection, during times of high uncertainty, damages the profitability compared to non-politically connected banks. Our study provides new insights for the scarce literature on this field, especially on the measure of the variables of interest. It also highlights relevant information for Venezuelan economy. It's noteworthy to mention that although political connection benefits some banks, it's not possible to achieve a full competitive advantage over non-politically connected banks. This might be due to the current state of the country's economy and financial markets.
Este documento estudia cómo la incertidumbre política y la conexión política ha afectado el desempeño y las actividades crediticias de los bancos venezolanos. Utilizamos microdatos mensuales de la Superintendencia de Bancos de Venezuela y construimos dos índices para explotar su variación. Encontramos que en un período de alta incertidumbre en la política económica, los bancos conectados políticamente están dispuestos a asimilar más riesgos y, por lo tanto, otorgan más préstamos. Así mismo, la cantidad de provisiones mantenidas para pérdidas potenciales también es mayor para los bancos conectados durante períodos de alta incertidumbre. Sin embargo, encontramos que tener una conexión política, en tiempos de alta incertidumbre, perjudica la rentabilidad en comparación con los bancos no políticamente conectados. Nuestro estudio proporciona nuevas ideas para la escasa literatura sobre este campo, especialmente sobre la medida de las variables de interés. También destaca información relevante para la economía venezolana. Cabe mencionar que, aunque la conexión política beneficia a algunos bancos, no es posible lograr una ventaja competitiva completa sobre los bancos no conectados políticamente. Esto podría deberse al estado actual de la economía y los mercados financieros del país.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2018-2019
Economia – Aspectes polítics – Veneçuela
Incertesa – Aspectes polítics
Incertesa – Models matemàtics
Veneçuela
Political connections
Economic policy
Uncertainty
Venezuela
Certain uncertainty? The response of Venezuelan banks to a political dilemma
info:eu-repo/semantics/masterThesis
THUMBNAIL
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ORIGINAL
2019_TFM_SEA_ArmijosCertain.pdf
2019_TFM_SEA_ArmijosCertain.pdf
application/pdf
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10230/43378
oai:repositori.upf.edu:10230/43378
2020-01-23 03:31:12.003
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464252021-02-11T02:31:09Zcom_10230_26995com_10230_16441col_10230_26999
Calderón, Sully
Moreu, Aida
2021-02-10T11:01:40Z
2021-02-10T11:01:40Z
2020-07
http://hdl.handle.net/10230/46425
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Miguel Espinosa
The Spanish Free to air TV industry is a two-sided market in which viewers demand TV programs and advertisers demand spots whose price depend mainly on audience. We specify Viewers Demand through a logit model and Advertisers Demand by an adaptation of the model of Wilbur (2008). The first model shows an elastic demand (-1.6), and adversity of viewers to advertising regardless of the day but during prime time they are a bit more ad tolerant. The second model shows that advertisers are relatively inelastic to both an increase of adds (-0.1) and an increase in audience share (0.46).
La televisión española en abierto es un mercado de dos caras en el que los espectadores demandan programas y los anunciantes, espacios publicitarios cuyo precio depende de la audiencia. Especificamos la Demanda de espectadores con un modelo “logit” y la Demanda de anunciantes mediante una adaptación de Wilbur (2008). El primer modelo muestra una demanda elástica (-1,6) y que, los espectadores son reacios a la publicidad, aunque algo más tolerantes durante el horario de máxima audiencia. El segundo modelo muestra que los anunciantes son relativamente inelásticos a un aumento de anuncios (-0,1) y a un aumento en audiencia (0,46).
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Competència econòmica
Mercat de doble cara
Publicitat
Competition
Two-sided market
Advertising
Demand estimation in a two-sided market : viewers and advertisers in the Spanish free-to-air TV market
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/46425
oai:repositori.upf.edu:10230/46425
2021-02-11 03:31:09.931
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464262021-02-11T02:31:11Zcom_10230_26995com_10230_16441col_10230_26999
Brumana, Silvia
Medina, Roger
2021-02-10T11:15:23Z
2021-02-10T11:15:23Z
2020-08-26
http://hdl.handle.net/10230/46426
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Miguel Espinosa
Asymmetric pricing in the retail fuel market describes the situation in which retail prices are adjusted quickly in case of positive shocks in the wholesale costs, whereas the adjustment is much slower in case of negative ones (rockets and feathers). By relying on a reduced version of a database containing the series of diesel and Brent prices for the period 08/2014-06/2015, we address the following research question: how did the fuel prices of the retail gas stations in a subset of Spanish provinces react in this period to changes in the price of Brent? In order to answer this question, we construct a pricing equation that takes into account all the possible factors that can affect pricing with the aim of isolating the effect of negative shocks and the effect of positive shocks in the price of Brent on the price of gasoline of the various Spanish operators. Then, we check whether the difference between these two effects is statistically significant to see whether there are asymmetric reactions. Furthermore, since in the period covered by the database a cartel was active, we also investigate the relation between asymmetric pricing and competition.
Les asimetries de preus en el mercat minorista de carburants descriu aquella situació on els preus s’ajusten molt ràpidament en casos de xocs positius sobre el preu majorista, mentre que els ajustaments són molt més lents en el cas de xocs negatius (fenomen conegut com plomes i coets). Fent servir una versió reduïda d’una base de dades que conté la sèrie dels preus del carburant i del Brent pel període 08/2014-06/2015, plantegem la següent qüestió: com van reaccionar els preus de les gasolineres en un conjunt de províncies espanyoles davant de canvis en el preu del Brent? Per tal de contestar aquesta pregunta construïm una equació de preus que té en compte tots els possibles factors que poden afectar el preu, amb l’objectiu d’aïllar l’efecte de xocs positius i negatius en el preu del Brent sobre el preu del combustible. Aleshores comprovem si les diferències entre ambdós efectes és estadísticament significativa per veure si hi ha reaccions asimètriques. Finalment, tenint en compte que durant el període que cobreix la base de dades hi va haver un càrtel actiu i sancionat per l’autoritat nacional de competència, també investiguem si la relació entre asimetries de preus i competència.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Asimetries de preus
Sèries temporals
Competència
Price assymetries
Time series
Competition
Competition and price asymmetries in the retail gasoline market: an application to a Spanish cartel case
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/46426
oai:repositori.upf.edu:10230/46426
2021-02-11 03:31:11.122
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464302021-02-11T02:31:25Zcom_10230_26995com_10230_16441col_10230_26999
Rai, Aditi
Goglione, Annalisa
Krauskopf, Rahel Sophia
2021-02-10T11:33:43Z
2021-02-10T11:33:43Z
2020-06-14
http://hdl.handle.net/10230/46430
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Luca Gambetti ; Luis Rojas ; Hugo Rodríguez Mendizábal
The Global Financial Crisis prompted central banks to adopt unconventional monetary policies such as the asset purchase programmes. In our thesis, we analyse whether securities purchases carried out by the ECB have had an impact on stock prices and whether these effects vary across sectors. We decompose the central bank announcement surprises into two opposing effects, a pure monetary policy shock and an information shock. We find that the pure monetary policy shock has indeed significant effects on stock prices across all sectors, suggesting that controlling for the information shock is important when analysing the effects of central bank announcements.
La crisi financera global va empènyer els bancs centrals a adoptar polítiques monetàries no convencionals com ara els programes de compra d'actius. Aquest treball analitza si aquestes compres per part del BCE han tingut un impacte sobre el preu de les accions així com si l'efecte ha estat homogeni per a tots els sectors. Descomposem les sorpreses del banc central en un xoc purament de política monetària i un xoc d'informació. En aquest marc podem concloure que els xocs purament tenen un efecte significatiu sobre el preu de les accions de tots els sectors i per tant, és necessari controlar pels xocs d'informació quan s'estudien els efectes dels anuncis dels banc centrals.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Política monetària
Preus de les accions
Sector financer
Monetary policy
Stock prices
Financial sector
The impact of quantitative easing on sectoral stock prices in the euro area
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/46430
oai:repositori.upf.edu:10230/46430
2021-02-11 03:31:25.671
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464312021-02-11T09:08:14Zcom_10230_26995com_10230_16441col_10230_26999
Campos, Juan Antonio
Celis, Francisco
2021-02-10T11:47:59Z
2021-02-10T11:47:59Z
2020-07
http://hdl.handle.net/10230/46431
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Director: Miguel Espinosa
The potential liberalization of the Chilean retail electricity market has raised important uncertainty regarding the effects of retail prices on inequality. This work models the price effects after liberalization and highlights how cross-subsidies can potentially become ineffective due to lack of competition. We used the model proposed by Laffont and Tirole 1994 to understand the interactions of the variables that determine the retail price. Our conclusions emphasise the need to encourage competition in the poorest counties, given
the fact that subsidizing retailers directly through lower input prices does not fully resolve the inequality concerns in the absence of enough competition.
La eventual liberalización del mercado eléctrico minorista en Chile ha causado incertidumbre respecto a los efectos desiguales en los precios minoristas. Este trabajo modela los efectos sobre los precios después de la liberalización y destaca cómo subsidios cruzados podrían perder su efectividad por ausencia de competencia. Utilizamos un modelo propuesto por Laffont y Tirole 1994 para entender las interacciones de las variables que determinan el precio minorista. Las conclusiones enfatizan la necesidad de incentivar la competencia en las comunas más pobres, dado que subsidiar a los comercializadores directamente por medio de precios de acceso más bajos no resuelve completamente los efectos sobre la desigualdad en ausencia de suficiente competencia.
Submitted by Montserrat FERNÁNDEZ TEIXIDÓ (montserrat.fernandez@upf.edu) on 2021-02-10T11:47:59Z
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Liberalització
Preu d'accès
Comerç al detall
Empreses elèctriques – Xile
Energia elèctrica – Xile
Liberalization
Access price
Retail electricity market
Inequality in the liberalization of the retail electricity market : the Chilean case
info:eu-repo/semantics/masterThesis
THUMBNAIL
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1
10230/46431
oai:repositori.upf.edu:10230/46431
2021-02-11 10:08:14.355
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464322021-02-11T09:20:16Zcom_10230_26995com_10230_16441col_10230_26999
Condessa, Bruna
Salat, Isabel
Palacio, Maria Clara
2021-02-10T11:54:53Z
2021-02-10T11:54:53Z
2020-07
http://hdl.handle.net/10230/46432
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Hugo Rodríguez Mendizábal ; Luca Gambetti ; Luis Rojas
Using microeconomic data from the Family Expenditure Survey (FES), we investigate whether conventional and unconventional monetary policies played a role in explaining the evolution of British inequality over time. By performing a Vector Autoregression (VAR) analysis, we find that conventional contractionary monetary policy shocks increase wage and income inequality. Contractionary shocks are also found to have asymmetric effects among households, leading to greater losses in wage and income for those at the bottom of the distribution while yielding considerable gains for those at the top. Unconventional monetary policy shocks, in turn, are found have relatively small and non-persistent impacts on inequality. Distribution-specific effects are also verified in the case of unconventional shocks but those are also largely non-persistent. Our findings suggest that conventional monetary policy can have important and persistent redistributive impacts, while unconventional monetary policy effects on wage and income inequality are shorter-lived and overall less pronounced.
Utilizando datos microeconómicos de la Family Expenditure Survey (FES), investigamos el papel que juegan las políticas monetarias convencionales y no convencionales a la hora de explicar la evolución de la desigualdad a lo largo de los años en Reino Unido. Mediante la realización de un análisis de autorregresión vectorial, encontramos que los choques convencionales de política monetaria contractiva aumentan la desigualdad de ingresos y salarios. A su vez, los choques contractivos también presentan efectos asimétricos entre los distintos hogares. Esto lleva a una mayor pérdida de salarios y ingresos para aquellos que se encuentran en la zona más vulnerable de la distribución salarial, mientras que genera ganancias considerables para aquellos que se encuentran en la zona privilegiada. Por el otro lado, los choques de política monetaria no convencionales resultan tener un impacto casi insignificante y no persistente en la desigualdad. Estos a su vez también generan efectos específicos de distribución, aunque generalmente resultan ser poco duraderos. Nuestros hallazgos sugieren que las políticas monetarias convencionales tienen efectos importantes y persistentes en la redistribución de ingresos y salarios, mientras que las políticas monetarias no convencionales, por lo general, tienen un impacto menos pronunciado y poco duradero.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Macroeconomia
Desigualtat social
Política monetària
Igualtat
Macroeconomics
Equality
Monetary policy
Monetary policy and inequality dynamics : the case of the United Kingdom
info:eu-repo/semantics/masterThesis
THUMBNAIL
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TFMBGSE2020CondessaPalacioSalat.pdf
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10230/46432
oai:repositori.upf.edu:10230/46432
2021-02-11 10:20:16.324
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464332021-02-11T09:37:42Zcom_10230_26995com_10230_16441col_10230_26999
Lamb, Charlotte
Víglundsdóttir, Jana
Zicchieri, Alessandro
2021-02-10T11:59:15Z
2021-02-10T11:59:15Z
2020-06
http://hdl.handle.net/10230/46433
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Joan Llull ; Ada Ferrer-i-Carbonell
This paper examines the wages and career prospects of employees in flexible work arrangements (FWAs). Using the British Household Panel Survey, we analyse the effect being in a FWA has on hourly wages and the likelihood of promotion. We use the occupational share of employees in FWAs before and after the introduction of "Right to Request" legislation as an instrument to control for sample selection. Applying our instrument in pooled OLS and linear regression models, we find that flexible workers, particularly women, may receive higher wages than their non-flexible counterparts. This supports theoretical arguments that FWAs could increase labour productivity.
Este trabajo examina las perspectivas salariales y laborales de empleados en acuerdos laborales flexibles (FWA). Mediante la BHPS, analizamos el efecto que tiene estar en un FWA en el salario por hora y la probabilidad de ascenso. Utilizamos el porcentaje de los empleados en FWA antes y después de la introducción de la legislación del "derecho a solicitar" como un instrumento para controlar el sesgo de selección. Aplicando nuestro instrumento en modelos MCO agrupados y de regresión lineal, encontramos que los trabajadores flexibles, particularmente las mujeres, pueden recibir salarios más altos que sus colegas no flexibles. Esto respalda que los FWA podrían aumentar la productividad laboral.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Treball
Salaris
Ascensos
Jornada de treball flexible
Flexible working
Wages
Promotions
A flexible fix? : assessing the labor market penalties to flexible working in Britain
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/46433
oai:repositori.upf.edu:10230/46433
2021-02-11 10:37:42.084
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464342021-02-11T09:47:20Zcom_10230_26995com_10230_16441col_10230_26999
Howard, Emma
Murphy, Kean
Nientker, Wouter
El-Ouaghlidi, Karim
Schmidt, Harry
2021-02-10T12:04:15Z
2021-02-10T12:04:15Z
2020-06-12
http://hdl.handle.net/10230/46434
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner ; Manuel García-Santana
We employ a dynamic panel fixed effects model to assess the macroeconomic consequences of natural disasters in Africa and the effectiveness of debt relief in promoting post-disaster recovery. Our results show that floods and droughts have a negative contemporaneous effect on GDP growth which, in the case of floods, is recovered at the second lag. General debt relief - consisting of debt forgiveness, rescheduling, and significant increases in ODA - has no impact on economic growth. However, significant increases in ODA in the aftermath of disasters have a positive effect that is increasing in disaster severity, suggesting that it is an effective post-disaster recovery instrument. Debt-to-GDP growth and crop production growth are also considered in the analysis.
Las implicancias de los desastres naturales en África y el consecuente alivio de la deuda soberana son los objetos de estudio de este trabajo. Empleamos un modelo de efectos fijos de panel dinámico para evaluar las consecuencias macroeconómicas de los desastres y la eficacia del alivio de la deuda para facilitar la recuperación posterior a los mismos. El alivio general de la deuda - que consiste en la condonación de la deuda, el reescalonamiento y aumentos significativos de la AOD - no tiene repercusiones en el crecimiento económico. Sin embargo, los aumentos significativos de la AOD después de los desastres tienen un efecto positivo que aumenta de acuerdo a la gravedad de los desastres. Esto sugiere que es un instrumento eficaz de recuperación después de los desastres.
Submitted by Montserrat FERNÁNDEZ TEIXIDÓ (montserrat.fernandez@upf.edu) on 2021-02-10T12:04:15Z
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Catàstrofes naturals
Deutes – Alleujament
Natural disasters
Debt Relief
Official development assistance
The effectiveness of debt relief in mitigating the macroeconomic consequences of natural disasters
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/46434
oai:repositori.upf.edu:10230/46434
2021-02-11 10:47:20.161
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464352021-02-11T09:57:49Zcom_10230_26995com_10230_16441col_10230_26999
Dale, Maria
Gattorno, Giacomo
Osorio, André
Peers, Rebeca
Torres, Kerenny
2021-02-10T12:09:39Z
2021-02-10T12:09:39Z
2020-06
http://hdl.handle.net/10230/46435
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Fernando Broner ; María Ptashkina ; Manuel Santana
How does a sudden migrant crisis affect criminal activity, and through which mechanisms does this effect take place? We approach this topic by studying the effect of Venezuelan migration on crime rates in Colombia, in the context of the recent migrant crisis that made more than 1.2 million Venezuelans cross the border. Our study focuses on border provinces, where the presence of non-economic migrants is higher and potential assimilation problems could be exacerbated. Building on the fact that Venezuelan migration to Colombia is unrelated to economic outcomes in the latter, we are able to establish a causal effect. Our results show that Venezuelan forced migration had no significant effect on overall crime, but a positive and significant effect on personal theft. Particularly, there is an increase in Colombian and Venezuelan victimization rates, and an increase in the criminalization rates of Venezuelans. These results are robust to different specifications and controls and are reinforced by two placebo tests.
¿Cómo una crisis migratoria repentina afecta al crimen, y a través de qué mecanismos puede tener efecto? Estudiamos el efecto de la migración venezolana sobre las tasas de crimen en Colombia en el contexto de la reciente crisis migratoria que causó que más de 1.2 millones venezolanos cruzaran la frontera hacia Colombia. Nuestro estudio se centra en las provincias fronterizas, donde la presencia de inmigrantes por razones no económicas es más elevada y donde los potenciales problemas de asimilación pueden ser mayores. Considerando que la causa de esta ola migratoria no está relacionada con variables económicas en Colombia, podemos establecer causalidad. Nuestros resultados muestran que la ola de inmigración no tuvo efecto sobre el crimen total, pero sí un efecto positivo y significativo en las tasas de hurto a personas. En particular, muestran un incremento de las tasas de víctimas colombianas y venezolanas, y un incremento de las tasas de criminalidad de venezolanos. Estos resultados son robustos a diferentes especificaciones e inclusión de variables de control, y son reforzados por dos test de placebo.
Submitted by Montserrat FERNÁNDEZ TEIXIDÓ (montserrat.fernandez@upf.edu) on 2021-02-10T12:09:39Z
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Emigració i immigració
Delinqüència
Veneçuela
Colòmbia
Emigration and immigration
Crime
Venezuela
Colombia
Criminals or victims? : evidence on forced migration and crime from the Colombia–Venezuela border
info:eu-repo/semantics/masterThesis
THUMBNAIL
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TFMBGSE2020CriminalsorVictims.pdf
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MD5
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10230/46435
oai:repositori.upf.edu:10230/46435
2021-02-11 10:57:49.759
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/464362021-02-11T08:58:22Zcom_10230_26995com_10230_16441col_10230_26999
Biondi, Antonio
Kountoupis, Zacharias
Rabascall Costa, Joan
Solera, Marco
2021-02-10T12:16:21Z
2021-02-10T12:16:21Z
2020-07-14
http://hdl.handle.net/10230/46436
Treball fi de màster de: Master's Degree in Specialized Economic Analysis
Directors: Ada Ferrer-i-Carbonell ; Joan Llull
This paper explores the role of soft skills in the U.S. labor market. According to the previous literature, these skills – also called non-cognitive- are crucial as they allow firms to lower coordination costs by trading job tasks more efficiently. We look at both sides of the labor market. On the demand side, we collect 4,980 job ads from U.S. job portals through a web scraping technique, finding that larger firms require more job tasks and soft skills in their ads than the small and the medium ones. On the supply side, we match the skills from the O*NET dictionary with the Survey of Income and Program Participation (SIPP) of the United States from 2013 to 2016, estimating return to soft skills around 15% of hourly wage. Moreover, we find statistically significant soft skills wage premium in the big firms around 2.5%, up to 3.5% for highly educated workers. To the best of our knowledge, this is the first paper that finds a firm size wage premium for soft skills. These pieces of evidence suggest that larger enterprises are willing to pay more soft skills as they face higher coordination costs.
Aquest treball explora el paper de les habilitats socials en el mercat laboral dels Estats Units. Segons la literatura prèvia, aquestes habilitats -també anomenades soft skills o no cognitives- són crucials ja que permeten a les empreses reduir els costos de coordinació intercanviant les tasques de treball de manera més eficient. Mirem a banda i banda del mercat laboral. Pel costat de la demanda, recollim 4.980 anuncis de treball dels portals d'ocupació dels EUA a través d'una tècnica de web scraping i trobem que les empreses més grans requereixen més tasques de treball i habilitats socials en els seus anuncis que les petites i mitjanes. Pel costat de l'oferta, comparem les habilitats del diccionari O*NET amb l'Enquesta d'Ingressos i Participació en Programes (SIPP) dels Estats Units de 2013 a 2016 i estimem el retorn de les habilitats socials al voltant del 15% del salari per hora. A més, trobem estadísticament significativa la prima salarial de les habilitats socials en les grans empreses al voltant del 2,5%, fins al 3,5% per als treballadors altament qualificats. Fins on sabem, aquest és el primer treball que troba una prima salarial per a les habilitats socials tenint en compte la mida de l'empresa. Aquesta evidència ens suggereix que les empreses més grans estan disposades a pagar més per les habilitats socials, ja que s'enfronten a majors costos de coordinació.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2019-2020
Estats Units d'Amèrica
No-cognitiu
Habilitats
Prima Salarial
United States of America
Non-cognitive skills
Ability
Wage premium
SIPP
On the importance of soft skills in the U.S. labor market
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/46436
oai:repositori.upf.edu:10230/46436
2021-02-11 09:58:22.001
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/491332021-12-10T08:49:31Zcom_10230_26995com_10230_16441col_10230_26999
Matthíasardóttir, Diljá
Zarges, Lara
2021-12-02T11:56:36Z
2021-12-02T11:56:36Z
2021-06-07
http://hdl.handle.net/10230/49133
Treball fi de màster de: Master's Degree in Specialized Economic Analysis. Curs 2020-2021
Directors: Christopher Busch, Luca Gambetti i Hugo Rodriguez
Shocks to the European Central bank’s unconventional monetary policy trigger Dutch pension funds to search for yield: A structural VAR analysis shows that the pension funds reallocate their asset holdings from bonds towards equity and alternatives. The latter suggests the existence of a portfolio rebalancing channel through institutional investors in the euro area. Moreover, we emphasize that the portfolio reallocation induced by monetary policy has increased the overall riskiness of the funds’ investments, which has potentially systemic risk implications. As the Dutch pension sector has evolved into a key player in financial markets, we additionally investigate the
domestic real effects of a further increase in its size. In this context a second SVAR approach shows that an expansive shock to total asset holdings boosts economic growth. Nevertheless this link also works in the reverse direction and hence points out the potential problems of a sudden dissaving of pension funds. Our case study is restricted to the Netherlands, where the pension sector accounts for almost 200% of GDP, which is an exceptional case in the euro area. However, our results are of general interest for the aging societies in Europe as they improve the understanding of pension funds’ potential importance for economic policy in a period of demographic change.
Los cambios inesperados en la política monetaria no convencional del Banco Central Europeo llevan a los fondos de pensiones holandeses a buscar rendimientos: un análisis VAR estructural muestra que los fondos de pensiones trasladan sus tenencias de activos de bonos hacia participaciones y otras alternativas. Esto último sugiere que existe un canal de reequilibrio en la composición de sus carteras a través de los inversores
institucionales del área euro. Asimismo, enfatizamos que la relocalización de carteras de activos inducida por la política monetaria ha incrementado el riesgo general de las inversiones en fondos, lo que implica potencialmente un riesgo sistémico. Al evolucionar el sector holandés de las pensiones hacia un papel clave en los mercados financieros, investigamos adicionalmente los efectos reales de un aumento aún mayor en su tamaño. En este contexto, un segundo enfoque SVAR muestra que una perturbación expansiva a la totalidad de las tenencias de activos impulsa el crecimiento
económico. Sin embargo, este vínculo también funciona de forma inversa, y en consecuencia muestra las problemáticas potenciales de un repentino desahorro en los fondos de pensiones. Nuestro estudio de caso está restringido a Países Bajos, donde el sector de las pensiones representa casi el 200% del PIB, siendo un caso excepcional en el área euro. A pesar de ello, nuestros resultados son de interés general para las sociedades envejecidas de Europa, ya que mejoran la comprensión de la potencial importancia de los fondos de pensiones en la política económica, en un período de cambio demográfico.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Pension funds
Economic growth
Monetary policy
Fondos de pensiones
Crecimiento económico
Política monetaria
The role of pensions: exploring the link between pension funds, monetary policy and economic performance: a case study of the Netherlands
info:eu-repo/semantics/masterThesis
THUMBNAIL
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TFM2021BGSEZarges.pdf
TFM2021BGSEZarges.pdf
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10230/49133
oai:repositori.upf.edu:10230/49133
2021-12-10 09:49:31.415
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/491342021-12-14T17:13:20Zcom_10230_26995com_10230_16441col_10230_26999
Buades, Mercedes
Ibáñez, Lucía
Martínez, Andrés
2021-12-02T12:28:41Z
2021-12-02T12:28:41Z
2021-06
http://hdl.handle.net/10230/49134
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Macroeconomic Policy and Financial Markets. Curs 2020-2021
Directors: Konstantin Boss, Christian Busch, Luca Gambetti i Hugo Rodríguez Mendizábal.
The reform of the European fiscal framework is a live debate and a need recently recognized by the European Commission. Surges in public debt as a result of the COVID-19 crisis intensify the debate, while the structural economic changes of recent years (low interest rates and low potential growth) place European economies in a completely different economic scenario from that of 1992, when the 60 % of GDP debt rule was introduced in the Maastricht Treaty. Given that no economic justification was provided at that time to determine this number, and the fact that the analysis focused on debt sustainability does not yield solid answers, the present work aims to contribute to the debate by providing an answer on what would be the level of structural debt indicated by the economic fundamentals for certain European countries. Using a panel regression, we develop a country specific and time variant “structural level of debt" determined solely by the country's macroeconomic variables, as opposed to the 60 % debt limit established in the European Treaties. Subsequently, we study whether shocks to debt (both structural and observed debt) harm real GDP. Positive shocks to observed debt are found to have a considerably greater negative impact than shocks to structural debt, suggesting that what drives the decline in GDP are increases in public debt determined by non-structural factors.
La reforma del marco fiscal europeo es un debate vivo y una necesidad reconocida recientemente por la Comisión Europea. El aumento de la deuda pública debido a la crisis del covid-19 intensifica el debate, al mismo tiempo que los cambios estructurales de los últimos años (bajos tipos de interés y bajo crecimiento potencial) sitúan a las economías europeas en un escenario completamente diferente al de 1992, cuando la regla del 60% de deuda sobre el PIB fue introducida en el Tratado de Maastricht. Dado que en aquel momento no se proporcionó una justificación económica para determinar esta cifra, y que el análisis centrado en la sostenibilidad no arroja respuestas contundentes, el presente trabajo pretende contribuir al debate proporcionando una respuesta sobre cuál sería el nivel de deuda estructural que indican los fundamentos económicos de ciertos países europeos. Utilizando una regresión de panel, desarrollamos un “nivel de deuda estructural” específico para cada país y variable en el tiempo, determinado únicamente por las variables macroeconómicas de los países estudiados, en contraposición al límite de la deuda del 60% establecido en el Tratado de Funcionamiento de la Unión Europea. Posteriormente, estudiamos si los shocks a la deuda (tanto a la deuda estructural como a la observada) dañan el PIB real. Se encuentra que los shocks positivos a la deuda observada tienen un impacto negativo mayor que los shocks a la deuda estructural, sugiriendo que la caída del PIB se debe a incrementos en la deuda pública determinados por factores no estructurales.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Public debt
EU fiscal rules
Secular stagnation
Deuda pública
Reglas fiscales europeas
Estancamiento secular
A departure from the sustainability approach: a structural debt level for EU countries
info:eu-repo/semantics/masterThesis
THUMBNAIL
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TFM2021BGSEBuades.pdf
TFM2021BGSEBuades.pdf
application/pdf
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http://repositori.upf.edu/bitstream/10230/49134/1/TFM2021BGSEBuades.pdf
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MD5
1
10230/49134
oai:repositori.upf.edu:10230/49134
2021-12-14 18:13:20.585
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/491352021-12-10T08:53:39Zcom_10230_26995com_10230_16441col_10230_26999
Ng, Bryan
Gourevich, Isabella
Münch, Markus
Lim, Timothy
2021-12-02T13:10:42Z
2021-12-02T13:10:42Z
2021-06-11
http://hdl.handle.net/10230/49135
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance and Development. Curs 2020-2021
Directors: Fernando Broner, Manuel García-Santana i Maria Ptashkina
In 2016, the first shipment left Ethiopia’s capital for Djibouti port, which handles 90% of Ethiopia’s international trade. The revolutionary 753km single-track electrified railway reduced the journey from 84 hours to 15 hours. We provide a micro evaluation of the project and its implications for the manufacturing sector, through a difference-in-difference regression using two years of Ethiopian firm-level data. While the railway increased sales by 20.6%, value-added by 19.7%, and firm size by 11.1%, we find heterogeneous size effects and adverse distributional effects. We conclude that transportation investments in Africa must be complemented by transitions in production technologies, educational investments, and regional redistribution.
En 2016, el primer cargamento salió de la capital de Etiopía al puerto de Yibuti, que gestiona el 90% del comercio internacional de Etiopía. El revolucionario ferrocarril electrificó de vía única de 753 km redujo el tiempo de viaje de 84 a 15 horas. En nuestro estudio se analiza una microevaluación del proyecto y sus implicaciones para el sector manufacturero, mediante una regresión diferencia en diferencia utilizando los datos de empresas etíopes durante los dos años. Aunque el ferrocarril aumentó las ventas en un 20,6%, el valor añadido en un 19,7% y el tamaño de las empresas en un 11,1%, encontramos efectos heterogéneos en cuanto al tamaño y efectos distributivos adversos. Concluimos que las inversiones en transporte en África deben complementarse con transiciones en tecnologías de producción, inversiones en educación y redistribución regional.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Transport Infrastructure
Firms
Ethiopia
Infraestructura de transporte
Empresas
Etiopía
Tracks to growth: does railway investment promote industrial development?
info:eu-repo/semantics/masterThesis
THUMBNAIL
TFM2021BGSEBryanNg.pdf.jpg
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ORIGINAL
TFM2021BGSEBryanNg.pdf
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MD5
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10230/49135
oai:repositori.upf.edu:10230/49135
2021-12-10 09:53:39.038
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/491362021-12-10T08:55:23Zcom_10230_26995com_10230_16441col_10230_26999
Blanchard, Thomas Jonathan Yasue
Masdottir, Katrin Svava
Schuelke, Lukas
Tully, Marc Robert
2021-12-02T14:32:54Z
2021-12-02T14:32:54Z
2021-06-11
http://hdl.handle.net/10230/49136
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance and Development. Curs 2020-2021
Directors: Fernando Broner, Manuel García-Santana, Maria Ptashkina
Natural disasters frequently happen in Indonesia. However, the May 27, 2006 Yogyakarta earthquake still stands out with a magnitude of 6.3 on the Richter Scale. The total financial cost caused by the earthquake was US$ 3.1 billion. An estimated 154,000 houses were destroyed, and at least 260,000 households suffered some damage. This paper analyses the medium-term impact of this earthquake on the development of children five and below. We estimate that, on average, affected children are between 1.6-2.8 centimetres smaller and lose between 0.5-2.5 kilograms. Boys and children who reside within urban areas are adversely affected the most.
Els desastres naturals ocorren sovint a Indonèsia. No obstant això, el terratrèmol de Yogyakarta del 27 de maig de 2006 continua destacant amb una magnitud de 6,3 en l'escala de Richter. El cost financer total causat pel terratrèmol va ser de 3.100 milions de dòlars. S'estima que es van destruir 154.000 cases, i almenys 260.000 llars van patir alguns danys. Aquest document analitza l'impacte a mitjà termini d'aquest terratrèmol en el desenvolupament dels nens de menys de cinc anys. Es calcula que, de mitjana, els nens afectats són entre 1,6 i 2,8 centímetres més baixos i pesen entre 0,5 i 2,5 quilos menys. Els nois i nens que resideixen dins les zones urbanes són els més afectats.
Los desastres naturales ocurren a menudo en Indonesia. Sin embargo, el terremoto de Yogyakarta del 27 de mayo de 2006 continúa destacando con una magnitud de 6,3 en la escala de Richter. El coste financiero total causado por el terremoto fue de 3.100 millones de dólares. Se estima que se destruyeron 154.000 casas, y al menos 260.000 hogares sufrieron algunos daños. Este documento analiza el impacto a medio plazo de este terremoto en el desarrollo de los niños de menos de cinco años. Se calcula que, de media, los niños afectados son entre 1,6 y 2,8 centímetros más bajos y pesan entre 0,5 y 2,5 kilos menos. Los chicos y niños que residen dentro de las zonas urbanas son los más afectados.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Childhood development
Indonesia
Earthquake
Desenvolupament infantil
Indonèsia
Terratrèmol
Desarrollo infantil
Terremoto
How earthquakes impact child development: evidence from Indonesia
info:eu-repo/semantics/masterThesis
THUMBNAIL
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ORIGINAL
TFM2021BGSEBlanchardEarthquakes.pdf
TFM2021BGSEBlanchardEarthquakes.pdf
application/pdf
2443620
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MD5
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10230/49136
oai:repositori.upf.edu:10230/49136
2021-12-10 09:55:23.443
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/492052021-12-15T02:31:52Zcom_10230_26995com_10230_16441col_10230_26999
Akker, Ruben van den
Hammad, Nour
Marin, Alexandre
2021-12-14T14:32:43Z
2021-12-14T14:32:43Z
2021-07-24
http://hdl.handle.net/10230/49205
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Economics of Public Policy. Curs 2020-2021
Directors: Ada Ferrer-i-Carbonell, Hannes Mueller
Mental health outcomes significantly deteriorated in the United Kingdom as a result of the Covid-19 pandemic, particularly for younger individuals. This paper uses data from the Millennium Cohort Study to investigate the heterogeneity of mental health effects of the Covid-19 pandemic on adolescents by both personality types and personality traits. Using two-step cluster analysis we find three robust personality clusters: resilient, overcontrolled, and undercontrolled. We find that resilient individuals, who generally have better mental health, reported larger decreases in mental health during the pandemic than both undercontrollers and overcontrollers. The effect seems to be driven by the neuroticism trait, such that those with higher neuroticism scores fared better than those with lower scores during the pandemic. Our findings highlight that personality traits are important factors in identifying stress-prone individuals during a pandemic.
La salud mental se deterioró en el Reino Unido durante la pandemia del Covid-19, especialmente entre los más jóvenes. Usamos el Millennium Cohort Study e investigamos los efectos de la pandemia entre los adolescentes, centrándonos en la heterogeneidad por tipos y por rasgos de personalidad. Usando un método de agrupación en dos pasos, identificamos tres tipos de personalidad: resilientes, sobre-controlados y sub-controlados. Encontramos que las personas resilientes, quienes en general tienen una mejor salud mental, experimentaron una mayor deterioración de su salud mental. Esto se debe al rasgo de personalidad neocriticismo. Subrayamos la importancia de la personalidad para identificar las personas propensas al estrés durante una pandemia.
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Mental health
Personality
Covid-19
Salud mental
Personalidad
Personality traits and mental health outcomes: the effect of the Covid-19 pandemic on young adults in the UK
info:eu-repo/semantics/masterThesis
THUMBNAIL
TFM2021BGSEAkkerPerson.pdf.jpg
TFM2021BGSEAkkerPerson.pdf.jpg
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MD5
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10230/49205
oai:repositori.upf.edu:10230/49205
2021-12-15 03:31:52.953
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/492062021-12-15T02:31:53Zcom_10230_26995com_10230_16441col_10230_26999
Noviello, Ilaria
Tey, Shaun
2021-12-14T16:03:26Z
2021-12-14T16:03:26Z
2021-06
http://hdl.handle.net/10230/49206
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Competition and Market Regulation. Curs 2020-2021
Director: Miguel Espinosa
We undertook an ex-post analysis of a 2013 Agreement in the Netherlands to close five aging coal power plants in 2016 and 2017. First, we evaluate the Authority for Consumers and Markets’ (ACM) assumption that the plant closures would result in an increase of the wholesale electricity price in the Netherlands by undertaking a before-and-after analysis. Second, we examine how the ACM would have quantified the benefit of the plant closures in mid-2018 and considered the effect of using an alternative evaluation technique based on estimating consumers’ willingness to pay for green electricity. Our findings indicate that the ACM evaluation was likely incorrect to oppose the agreement to close the coal power plants.
Hemos realizado un análisis ex-post del acuerdo celebrado en los Países Bajos en 2013 para cerrar cinco antiguas centrales eléctricas de carbón entre 2016 y 2017. En primer lugar, siguiendo la metodología before-and-after, evaluamos el supuesto adoptado por la Autoridad para Consumidores y Mercados (ACM) de que el cierre de la planta resultaría en un aumento del precio de la electricidad en el mercado mayorista de los Países Bajos. En segundo lugar, examinamos cómo el ACM pudo haber cuantificado los beneficios de cerrar plantas de energía y consideramos el efecto de utilizar una técnica de evaluación alternativa basada en estimar la disposición de los consumidores a pagar por la electricidad verde. Nuestros resultados indican que la evaluación de ACM fue probablemente incorrecta al oponerse al acuerdo de cierre de las centrales eléctricas de carbón.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2021-12-14T16:03:26Z
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Green agreements
Ex-post analysis
Electricity
Acuerdos verdes
Análisis ex-post
Electricidad
Green agreement in the electricity market: an ex-post evaluation of the 2013 Dutch coal power plants closure agreement
info:eu-repo/semantics/masterThesis
THUMBNAIL
TFM2021BGSENovielloGreen.pdf.jpg
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MD5
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10230/49206
oai:repositori.upf.edu:10230/49206
2021-12-15 03:31:53.847
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/492072021-12-15T02:31:54Zcom_10230_26995com_10230_16441col_10230_26999
Greene Morales, Elisa
2021-12-14T16:13:16Z
2021-12-14T16:13:16Z
2021-07-14
http://hdl.handle.net/10230/49207
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Competition and Market Regulation. Curs 2020-2021
Director: Miguel Espinosa
This report present a conceptual and empirical analysis of the Chilean Antitrust Authority's decision in the upstream dairy market. In 2004, the Antitrust Court decided that the biggest milk processors should not discriminate and publish their buying prices in order to improve the competitive conditions in the market. The empirical analysis focuses on the effect of the decision in the prices of fresh milk, using aggregated and plant level data. Estimation results show that the decision caused an increase in price of fresh milk. Considering the development of the market in the last years, it is unlikely that the decision is achieving the original objectives, so it is likely that it is causing inefficiencies to the market and higher prices for final consumers of dairy products.
Este reporte presenta un análisis conceptual y empírico de las obligaciones impuestas por el Tribunal de Defensa de Libre Competencia de Chile en el mercado de provisión de leche fresca. En el año 2004, el Tribunal decidió que los principales procesadores de leche no podrían discriminar en la compra de leche fresca y que debían publicar los precios de compra para mejorar las condiciones de competencia en el mercado. El análisis empírico se centra en estudiar el efecto de esta decisión en los precios de compra de leche fresca, usando data agregada y a nivel de planta procesadora. Los resultados muestran que la decisión causó un aumento en el precio de la leche fresca. Considerando el desarrollo del mercado en los últimos años, es poco probable que las obligaciones estén cumpliendo sus objetivos originales. Por lo tanto, es probable que la decisión esté causando ineficiencias en el mercado y mayores precios para los consumidores finales de productos lácteos.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2021-12-14T16:13:16Z
No. of bitstreams: 1
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Ex-post evaluation
Buyer power
Dairy market
Evaluación ex-post
Poder de compra
Mercado lácteo
Chilean fresh milk market: ex-post evaluation of competition authority's decisions
info:eu-repo/semantics/masterThesis
THUMBNAIL
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TFM2021BGSEGreeneChilean.pdf
TFM2021BGSEGreeneChilean.pdf
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MD5
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10230/49207
oai:repositori.upf.edu:10230/49207
2021-12-15 03:31:54.63
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/492082021-12-15T02:31:55Zcom_10230_26995com_10230_16441col_10230_26999
Arenas, Paul
Paredes, Saúl
2021-12-14T16:23:58Z
2021-12-14T16:23:58Z
2021-07-14
http://hdl.handle.net/10230/49208
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Competition and Market Regulation. Curs 2020-2021
Director: Miguel Espinosa
In recent years, large platforms have raised concerns that they may engage in anticompetitive practices that affect the market competition. Therefore, analyze the competition structure inside platforms is a relevant issue that has not been treated in many empirical research. This study analyze how a platform's owner could affect the degree of competition among members of one group in the platform through biasing searching results using rating classifications. In this paper, we perform an application to Airbnb's market in Barcelona given the particularity of rating is an unavailable searching filter to guests. We found evidence that listing's rating classification represents an important market segmentation in the Airbnb's market in Barcelona that could imply a possible practice of biasing searching results. Moreover, we found that the intensity of competition is differentiated by the rating-related segments, which means that this segments are concentrating competition.
En los últimos años, las grandes plataformas han generado preocupación sobre su involucramiento en prácticas anticompetitivas que afecta la competencia del mercado. Por tanto, analizar la estructura de la competencia dentro de las plataformas es un tema relevante que no ha sido tratado en muchas investigaciones empíricas. Este estudio analiza cómo los dueños de una plataforma pueden afectar el grado de competencia entre los miembros de un grupo dentro de la plataforma al sesgar los resultados de búsqueda utilizando clasificaciones de calificación. En este artículo, realizamos una aplicación al mercado de Airbnb en Barcelona, dada la particularidad de que el puntaje no es un filtro de búsqueda disponible para los huéspedes. Encontramos evidencia de que la clasificación de calificación de los alojamientos representa una segmentación importante en el mercado de Airbnb en Barcelona que podría implicar un posible sesgo en los resultados de búsqueda. Además, encontramos que la intensidad de la competencia se diferencia por los segmentos relacionados con la calificación, lo que significa que estos segmentos están concentrando la competencia.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2021-12-14T16:23:58Z
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2020-2021
Platform competition
Digital market
Economics of sharing
Competencia en plataformas
Mercado digital
Economía compartida
Implications of market rating-based segmentation on intra-platform competition: an application to Airbnb's market in Barcelona
info:eu-repo/semantics/masterThesis
THUMBNAIL
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6cc013ecb4238fe0a9af5c3963aa201e
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ORIGINAL
TFM2021BGSEArenasImplications.pdf
TFM2021BGSEArenasImplications.pdf
application/pdf
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MD5
1
10230/49208
oai:repositori.upf.edu:10230/49208
2021-12-15 03:31:55.903
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/552202022-12-23T02:32:11Zcom_10230_26995com_10230_16441col_10230_26999
Torres, Angela
Vargas, Joelky
Weatherburn, William
2022-12-22T10:31:31Z
2022-12-22T10:31:31Z
2022-06-13
http://hdl.handle.net/10230/55220
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Macroeconomic Policy and Financial Markets. Curs 2021-2022
Supervised by: Luis Rojas and Hugo Rodríguez
To reduce greenhouse gas emissions European countries have primarily relied on two polices: carbon taxes and the Emissions Trading Scheme. A growing body of research has studied the effect that these policies have had on the macroeconomy, including on inflation. However, current literature has concentrated on the effect of these policies on the mean inflation rate, ignoring the effect on unlikely but extreme inflation outcomes. To the best of our knowledge, our paper is the first to study the effect of EU carbon policies on the distribution of inflation. We perform panel quantile regressions on 17 European countries and find that the Emissions Trading Scheme price and carbon tax growth predict the mean and upper 10% of the inflation distribution contemporaneously. We then estimate impulse response functions to examine how these policies affect the distribution of inflation into the future.
Los países europeos se han basado en dos políticas para reducir sus emisiones: impuestos a las emisiones y el comercio de permisos de emisión. Aunque efectivas, estas políticas no son inocuas al relacionarse con la inflación. No obstante, la literatura se ha concentrado en el efecto sobre la media, ignorando el efecto sobre las colas de la inflación (niveles inflacionarios poco probables pero extremos). Para estudiar el efecto de estas políticas sobre la distribución de la inflación, implementamos regresiones por quintiles adaptadas un panel de 17 países y encontramos que ambas políticas predicen solamente la media y el 10% superior de la distribución. Además, estimamos funciones de respuesta al impulso mediante proyecciones locales para examinar cómo afectan la distribución en el futuro.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2022-12-22T10:31:31Z
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Canvis climàtics – Europa
Inflation-at-risk
Inflation distribution
Tail risks
Climate change
Distribución de la inflación
Riesgos de cola
Cambio climático
Inflation in the time of climate change: a tail of unrequited love?: the effect of greenhouse gas emissions policies on the tails of the inflation distribution in Europe
info:eu-repo/semantics/masterThesis
THUMBNAIL
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oai:repositori.upf.edu:10230/55220
2022-12-23 03:32:11.491
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/552212022-12-23T02:32:12Zcom_10230_26995com_10230_16441col_10230_26999
Camilo, Camila
Rozada, Angie
Sanz, Carlos
2022-12-22T11:41:44Z
2022-12-22T11:41:44Z
2022-06-13
http://hdl.handle.net/10230/55221
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Macroeconomic Policy and Financial Markets. Curs 2021-2022
The rise in global temperatures have been a growing source of concern for policy makers given its potential impact for sustainable economic activity. This paper explores the effects of a temperature shock on the distribution of economic growth in Colombia. Specifically, it focuses on the impact of these shocks on economic risks. The findings suggest the existence of asymmetries on the lower and upper tail of the distribution, indicating that higher temperatures leads to less optimistic outcomes for GDP growth. Also, it is found negative and significant effects of temperature shocks on non-agricultural sectors. The results are obtained using quantile regressions under the Growth-at-risk approach and local projections.
Una fuente creciente de preocupación para los hacedores de política es el aumento de las temperaturas globales y su impacto potencial sobre la sostenibilidad de la actividad económica. Este artículo explora los efectos de un choque de temperatura en la distribución del crecimiento en Colombia. Específicamente, analiza el impacto de estos choques sobre los riesgos económicos, a través del uso de regresiones por cuantiles bajo la metodología de Growth-at-risk y proyecciones locales. Los resultados sugieren la existencia de asimetrías en la cola inferior y superior de la distribución, indicando que temperaturas más altas conducen a resultados menos optimistas para el crecimiento del PIB. Asimismo, se encuentran efectos negativos y significativos de choques de temperatura en sectores no agrícolas.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2022-12-22T11:41:44Z
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Canvis climàtics – Colòmbia
Growth-at-risk
Temperature shocks
Climate change
Quantile regressions
Local projections
Temperature shocks
Warming
Environment
Impulse response functions
Burning growth: rising temperatures in a growth-at-risk approach: a case study of Colombia
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/55221
oai:repositori.upf.edu:10230/55221
2022-12-23 03:32:12.618
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/552222022-12-23T02:32:13Zcom_10230_26995com_10230_16441col_10230_26999
Prudencio, Laura
Suárez, María J.
English, Benjamin
Young, Nolan
2022-12-22T12:14:46Z
2022-12-22T12:14:46Z
2022-06
http://hdl.handle.net/10230/55222
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance, and Development. Curs 2021-2022
Tutors: Fernando Broner, Ruben Durante
Natural disasters take lives, destroy homes, trigger epidemics, and affect individual health. Refugees fleeing to safety often are confined to camps and makeshift settlements until they can return home. As the climate crisis deepens, climate refugee flows will swell in frequency and intensity, escalating pre-existing economic tensions between local communities and refugees. A better understanding of the relationship between refugees and where they flee is needed. This paper finds that the presence of an Internally Displaced Persons (IDP) site can negatively affect the public health of local communities in Malawi. Sites with poorer hygiene conditions are associated with more drastic adverse health effects. Policymakers, humanitarian organizations, and relevant stakeholders should place greater emphasis on the quality of health and hygiene when responding to IDP flows triggered by natural disasters.
Los desastres naturales pueden acabar con vidas, destruir viviendas, provocar epidemias y afectar significativamente a la salud. Los individuos que huyen en busca de seguridad suelen tener que refugiarse en asentamientos improvisados hasta que puedan regresar nuevamente a sus hogares. Mientras no solucionemos la crisis climática, estos desplazamientos seguiran aumentando tanto en número como en intensidad, empeorando las tensiones ya existentes entre los refugiados y las comunidades receptoras. Este artículo estudia el efecto que pueden causar los campamentos temporales en la salud de las comunidades de acogida, analizando el caso del ciclón que arrasó el sur de Malawi en 2019. Los resultados obtenidos sugieren efectos saniatrios adversos en las zonas donde los campamentos presentaban peores condiciones higiénicas, por ello, no sólo la cantidad de ayudas destinadas a dichas causas debe mejorarse, si no también su calidad.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2022-12-22T12:14:46Z
No. of bitstreams: 1
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Health
Natural disasters
Internal migration
Desastres naturales
Migración interna
Salud
Fleeing the floods: the local health effects of internally displaced Malawians
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/55222
oai:repositori.upf.edu:10230/55222
2022-12-23 03:32:13.638
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/552232022-12-23T02:32:14Zcom_10230_26995com_10230_16441col_10230_26999
Burkinshaw, Sarah
Indalecio González, Judith
Silberring, Jana
Simkins, Gregory
2022-12-22T12:56:40Z
2022-12-22T12:56:40Z
2022-06-11
http://hdl.handle.net/10230/55223
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance, and Development. Curs 2021-2022
Tutors: Fernando Broner, Ruben Durante
Using all four waves of the Nigerian General Household Survey between 2011-2019, we implement a panel data model to investigate oil dependence and household human capital investment. We also supplement our analysis with a dynamic difference-in-differences event study of the 2014 global oil price shock. Our results find a strong relationship between changes in the global oil price and household school enrollment in Nigeria. Moreover, we find this effect is stronger for poorer households. Our study contributes to
the within-country resource dependence literature and is one of the first to focus on Nigeria.
Utilizando la Encuesta General de Hogares de Nigeria entre 2011 y 2019, implementamos un modelo panel para investigar la dependencia del petróleo y la inversión de los hogares en capital humano. Además, complementamos nuestro análisis con un estudio dinámico de Diferencias en Diferencias del choque mundial del precio del petróleo en 2014. Nuestros resultados muestran una fuerte relación entre la fluctuación mundial del precio del petróleo y la matriculación en las escuelas, especialmente en los hogares más pobres. Nuestro estudio contribuye a la literatura sobre la maldición de los recursos y es uno de los primeros en centrarse en Nigeria.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2022-12-22T12:56:40Z
No. of bitstreams: 1
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Resource curse
School enrollment
Nigeria
Maldición de los recursos
Matriculación escolar
A blessing or a curse: oil dependence and human capital in Nigeria
info:eu-repo/semantics/masterThesis
THUMBNAIL
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10230/55223
oai:repositori.upf.edu:10230/55223
2022-12-23 03:32:14.408
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/552282023-01-04T02:31:54Zcom_10230_26995com_10230_16441col_10230_26999
Breaks, Rachael
Durif, Clément
Sun, Peiyao
Voelz, Joule
2023-01-03T09:30:07Z
2023-01-03T09:30:07Z
2022-06-11
http://hdl.handle.net/10230/55228
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance, and Development. Curs 2021-2022
Tutors: Fernando Broner, Jaume Ventura
In this paper we consider the negative medium-term impact of the Russian Financial Crisis of 2014-2016 on remittances, consumption patterns, and credit in the Kyrgyz Republic. Using panel data, we show a significant drop in migration to Russia and remittances from Russia on the extensive and intensive margins. Households with a migrant abroad in Russia just prior to the crisis experience an average fall in real per capita income and an increase in poverty, while households both with and without a migrant rebalance their consumption basket to cope with the economic downturn.
En este estudio se considera el impacto negativo a medio plazo que tuvo la crisis financiera rusa de 2014-2016 en remesas, crédito y patrones de consumo en la República Kirguisa. Analizando datos de panel, se demuestra una reducción significativa de la migración hacia Rusia y de las remesas enviadas desde Rusia, tanto en el margen extensivo como en el intensivo. Los hogares kirguisos con un migrante en Rusia previo a la crisis experimentan un descenso de ingreso real per cápita y un aumento de pobreza. Por otro lado, ambos hogares con y sin migrante reequilibran su cesta de consumo para afrontar la crisis económica.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Remittances
Russian financial crisis 2014
Migration
Remesas
Crisis financiera rusa 2014
Migración
The impact of the 2014-2016 Russian financial crisis on remittances, consumption, and credit: the case of Kyrgyzstan
info:eu-repo/semantics/masterThesis
THUMBNAIL
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TFMBSE22SpeEconAnBDSV.pdf
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10230/55228
oai:repositori.upf.edu:10230/55228
2023-01-04 03:31:54.611
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/552292023-01-04T02:31:57Zcom_10230_26995com_10230_16441col_10230_26999
Batungbacal, Bernice
Contreras, María Paula
Martínez, Diego
2023-01-03T10:56:39Z
2023-01-03T10:56:39Z
2022-06-10
http://hdl.handle.net/10230/55229
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Macroeconomic Policy and Financial Markets. Curs 2021-2022
Tutors: Luca Gambetti, Hugo Rodríguez
Amid an extremely financially interconnected economic environment across the globe, coupled with the increasing interest rates post-pandemic, concerns surrounding the indirect and unintended consequences of policy are rising, not just domestically but across national borders as well. This paper examines United States monetary policy spillovers on inequality in a panel of nine Latin American countries using a local projection approach. We find that an unexpected increase in United States' interest rates results in a rise in both income and consumption inequality and that it is able to explain a relevant share of Gini variation. Furthermore, the Income Composition and Marginal Propensity to Consume channels may be playing some role in the transmission of the shock. Lastly, the effects on inequality depend on the kind of monetary policy conducted, revealing an asymmetric property of the shock.
En medio de un entorno económico extremadamente interconectado desde el punto de vista financiero en todo el mundo, junto con el aumento de las tasas de interés después de la pandemia, aumentan las preocupaciones sobre las consecuencias indirectas y no deseadas de las decisiones económicas, no solo a nivel nacional sino también a través de las fronteras nacionales. Esta tesis examina los efectos indirectos de la política monetaria de los Estados Unidos sobre la desigualdad en un panel de nueve países de América Latina utilizando un enfoque de local projection. Encontramos que un aumento inesperado en las tasas de interés de los Estados Unidos da como resultado un aumento en la desigualdad de ingresos y consumo y que puede explicar una parte importante de la variación del coeficiente Gini. Además, la composición del ingreso y propensión marginal a consumir pueden estar jugando algún papel en la transmisión del shock. Por último, los efectos sobre la desigualdad dependen del tipo de política monetaria que se lleve a cabo, lo que revela una propiedad asimétrica del shock.
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eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Macroeconomics
Monetary policy
Inequality
Macroeconomía
Política monetaria
Desigualdad
An unfair affair?: inequality spillovers of US monetary policy
info:eu-repo/semantics/masterThesis
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10230/55229
oai:repositori.upf.edu:10230/55229
2023-01-04 03:31:57.063
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/563792023-03-31T10:15:59Zcom_10230_26995com_10230_16441col_10230_26999
Toprak Erdagi, Dílan
Rajendran, Rathi
Tanos, Kimberly
2023-03-30T08:11:23Z
2023-03-30T08:11:23Z
2022-07
http://hdl.handle.net/10230/56379
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Competition and Market Regulation. Curs 2021-2022
Tutor: Rodrigo Carril
Turkey’s oil industry has been experiencing increasing retail diesel prices over the years. The Energy and Market Regulatory Authority has intervened into the market several times because of anti-competitive retail prices. This paper analyzes the competition level in the market, by using the conduct parameter. The empirical results show us that the competitiveness in the market has changed over time due to the interventions by the TCA and EMRA, marked by the changes in the conduct parameter. Although the market was never in full collusion, it is observed that the conduct parameter has decreased with each intervention.
La industria del petróleo de Turquía ha experimentado un aumento en los precios minoristas del diésel a lo largo de los años. La Autoridad Reguladora de Energía y Mercados ha intervenido en el mercado varias veces debido a precios minoristas anticompetitivos. Este reporte analiza el nivel de competencia en el mercado, utilizando el parámetro de conducta. Los resultados empíricos nos muestran que la competitividad en el mercado ha cambiado a lo largo del tiempo debido a las intervenciones de la TCA y la EMRA, marcados por los cambios en el parámetro de conducta. Si bien el mercado nunca estuvo en plena colusión, se observa que el parámetro de conducta ha ido disminuyendo con cada intervención.
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Istambul oil market
Conduct parameter
Collusion
Industria del petróleo de Estambul
Parámetro de conducta
Colusión
Estimating the conduct of Istanbul’s diesel oil market
info:eu-repo/semantics/masterThesis
THUMBNAIL
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oai:repositori.upf.edu:10230/56379
2023-03-31 12:15:59.225
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/563802023-03-31T10:17:41Zcom_10230_26995com_10230_16441col_10230_26999
Méndez Fernández, Daniel
Saiz Contreras, Noelia
2023-03-30T10:03:50Z
2023-03-30T10:03:50Z
2022-07
http://hdl.handle.net/10230/56380
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Competition and Market Regulation. Curs 2021-2022
Tutors: Rodrigo Carril, Elliot Motte
This paper looks at the effectiveness of recently developed safe-tests for the detection of collusion in public procurement. We discuss the prevalence and consequences of collusion in public procurement, as well as the limitations of existing detection methods. We then inspect the new methodologies proposed by Kawai which uses backlog and incumbency status indicators to identify bid patterns that are indicative of collusion. Finally, we demonstrate the methodology's effectiveness by applying it to a Chilean cartel. Our results suggest that safe-tests like the one presented can be useful to detect collusion, making it a valuable tool for combating it.
Este estudio analiza la eficacia de los tests desarrollados recientemente en la literatura para la detección de colusión en la contratación pública. Discutimos la prevalencia y las consecuencias de la colusión en las licitaciones, así como las limitaciones de los métodos de detección existentes. Además, estudiamos las nuevas metodologías propuestas, que utilizan distintas medidas para identificar patrones de ofertas que son indicativos de colusión. Finalmente, demostramos la efectividad de la metodología aplicándola a un cartel chileno. Nuestros resultados sugieren que este tipo de tests pueden ser útiles para detectar la colusión, lo que los convierte en una herramienta valiosa para combatirla.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2023-03-30T10:03:50Z
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Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Public procurement
Collusion
Detection
Licitación pública
Colusión
Detección
The Chilean injectables cartel: detection of collusion in public procurement
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/56380
2023-03-31 12:17:41.891
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/563812023-03-31T10:14:25Zcom_10230_26995com_10230_16441col_10230_26999
Maddaloni, Dario
McKnight, Lucille
Serra, Francesco
Wibisono, Iqbal
2023-03-30T11:13:25Z
2023-03-30T11:13:25Z
2022-06
http://hdl.handle.net/10230/56381
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Economics of Public Policy Program
Tutors: Ada Ferrer-i-Carbonell, Joan Llull
Droughts are thought to lower the opportunity cost of investing in education. However, there is limited evidence on the impact of droughts on human capital investment in children’s education, especially in developing countries. Our study contributes to the literature by providing empirical evidence to a theoretical model of the trade off between investment in education and labor during negative rainfall shocks. Using the Brazilian Schools Panel, we estimate a fixed effects specification and find that higher drought intensity leads to higher investment in schooling. Additionally, we find that longer droughts lead to a larger magnitude of the effect on educational investment. We also conduct heterogeneity analysis to understand the differential effect on rural and urban areas, as well as public and private schools.
Existe una creencia generalizada sobre cómo las sequías tienden a reducir el coste de oportunidad de invertir en educación. No obstante, hay evidencias limitadas del impacto que tienen las sequías sobre la inversión de capital humano en la educación de los niños, especialmente en países en vías de desarrollo. Nuestro estudio contribuye a la literatura existente proporcionando evidencia empírica a un modelo teórico de compensación entre inversión en educación y trabajo durante choques negativos de precipitaciones. Utilizando el Brazilian Schools Panel y mediante una especificación de efectos fijos, hallamos que las sequías más duraderas conducen a una mayor inversión en educación. Adicionalmente, encontramos que las sequías más largas conducen a una mayor magnitud del efecto sobre la inversión educativa. Asimismo, realizamos un análisis de heterogeneidad para comprender los efectos diferenciales en áreas urbanas y rurales, así como en escuelas públicas y privadas.
Submitted by MONTSERRAT FERNANDEZ TEIXIDO (montserrat.fernandez@upf.edu) on 2023-03-30T11:13:25Z
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application/pdf
eng
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2021-2022
Drought
Education
Brazil
Sequía
Educación
Brasil
Taking a rain-check: the effect of droughts on educational attainment in Brazil
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/56381
2023-03-31 12:14:25.176
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/583852023-12-07T13:43:12Zcom_10230_26995com_10230_16441col_10230_26999
Pinent Sans, Immaculada
Freixa Martínez, Joan
2023-11-27T15:21:30Z
2023-11-27T15:21:30Z
2023-06
http://hdl.handle.net/10230/58385
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Competition, Regulation and Markets Program. Curs 2022-2023
Tutors: Rodrigo Carril i Elliot Motte
In 2007 the European Commision (EC) prohibited Ryanair’s acquisition of Aer Lingus after an extensive analysis that indicated that the merger would be detrimental to consumers. To support their arguments, the EC included a regression analysis that showed that prices were expected to rise after the transaction. We showed the limitations of this analysis by applying it to the Jetblue/Spirit merger case in the US. We found that this approach has important endogeneity concerns that largely limit the conclusions that can be drawn from the results. We propose a solution through the use of appropriate instrumental variables for supply.
L’any 2007 la Comissió Europea (CE) va prohibir a Ryanair adquirir Aer Lingus després d’una anàlisi extensiva que demostrava que la fusió afectaria negativament als consumidors. Com a part dels seus arguments, la CE va incloure una regressió que mostrava un increment de preus si després de la fusió. Hem explorat les limitacions d’aquesta regressió aplicant-la al cas de Jetblue/Spirit als EUA. Hem trobat que aqueta aproximació està subjecta a greus problemes d’endogeneïtat que limiten les conclusions que en podem treure. Proposem solucions a aquest problema a través de l’ús de variables instrumentals per l’oferta.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-11-27T15:21:30Z
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
Competition
Mergers
Airline
Endogeneity
Regression analysis
Instrumental variables
Acquisitions
European Commission
Ryanair
Jetblue
Spirit
Aer Lingus
Competència
Fusions
Adquisicions
Endogeneïtat
Regressió
Variables instrumentals
Comissió Europea
EC's methodology in Ryanair/Aer Lingus applied to Jetblue/Spirit: a review of merger analysis in airline markets
info:eu-repo/semantics/masterThesis
THUMBNAIL
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oai:repositori.upf.edu:10230/58385
2023-12-07 14:43:12.934
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/583862023-12-07T13:41:31Zcom_10230_26995com_10230_16441col_10230_26999
Arellano Baeza, Daniela
Babu, Dayitha
Gené, Blanca
Seberini, Daniella
Weathersby, Elizabeth
2023-11-27T15:36:40Z
2023-11-27T15:36:40Z
2023-06
http://hdl.handle.net/10230/58386
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance, and Development Program. Curs 2022-2023
Tutors: Fernando Broner i Gert Mesters
In the 1990s, Chile began to integrate more into the global economy. Likewise, China was becoming a major player in the world trade market. By 2007, China was Chile's main trading partner and Chinese goods accounted for nearly 40% of Chilean imports. This study analyzes the effect of increasing Chinese imports in the 2000s on small manufacturing firms in Chile. We find that for each percentage point increase in Chinese import intensity, small firms lose 0.7% of profits and 0.3 employees on average. Furthermore, we find that this negative impact disproportionately falls on female employees and employees involved in the production process.
Alrededor de 1990, Chile empezó a integrarse más en la economía mundial y China se convertia en un actor importante en el mercado internacional. En 2007, China era el principal socio comercial de Chile y los productos chinos representaban casi el 40% de sus importaciones. Este estudio analiza el efecto del aumento de las importaciones chinas en la década del 2000 sobre las pequeñas empresas manufactureras de Chile. Encontramos que por cada punto porcentual de aumento en la intensidad de las importaciones chinas, las pequeñas empresas pierden un 0,7% de ganacias y 0,3 empleados. Además, este impacto negativo recae desproporcionadamente sobre las mujeres y los empleados involucrados en el proceso de producción.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-11-27T15:36:40Z
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application/pdf
eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
SME
Trade
Employment
PYMES
Comercio
Empleo
From trade winds to tsunamis: examining the effects of China's WTO integration on Chilean SMEs
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/58386
2023-12-07 14:41:31.875
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/584182023-12-07T08:42:42Zcom_10230_26995com_10230_16441col_10230_26999
Gray, Danny
Rojas, Matías
2023-11-30T14:43:22Z
2023-11-30T14:43:22Z
2023-06-29
http://hdl.handle.net/10230/58418
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Economics of Energy, Climate Change, and Sustainability Program. Curs 2022-2023
Tutora: Mar Reguant
We build an electricity market model for Chile to investigate the competitiveness of utility-scale battery storage as costs change. We find that batteries are competitive from the social planner’s perspective under current costs and provide clear benefits. We show how the optimal allocation of battery capacity increases with lower future costs. We demonstrate that policy interventions, such as carbon taxes and cost subsidies, are effective in improving battery competitiveness. In addition, we highlight the complementarities between renewable generation and batteries. Battery competitiveness can and will improve. However, other frictions must also be overcome to ensure batteries operate in the market.
Modelamos el mercado eléctrico chileno para evaluar la competitividad de las baterías según cambian los costos de inversión. Encontramos que las baterías son competitivas a los costos actuales con claros beneficios para el mercado eléctrico. Mostramos como la capacidad óptima de batería en el mercado aumenta cuando los costos disminuyen. Demostramos que instrumentos de políticas públicas como impuesto al carbono y subsidios a la inversión son eficaces para mejorar la competitividad de las baterías. Además, destacamos que las energías renovables y las baterías se complementan. La competitividad de las baterías puede mejorar y mejorará. Sin embargo, también se deben superar otras fricciones para garantizar la correcta incorporación de baterías en el mercado.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-11-30T14:43:22Z
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eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
http://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
Electricity market
Battery storage
Renewable energy
Non-conventional renewable energies
Mercados eléctricos
Almacenamiento
Energías renovables
Energías renovables no convencionales
The competitiveness of battery storage in the electricity market
info:eu-repo/semantics/masterThesis
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10230/58418
oai:repositori.upf.edu:10230/58418
2023-12-07 09:42:42.662
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/584172023-12-07T08:36:18Zcom_10230_26995com_10230_16441col_10230_26999
Guest, Natalie
Deighton, Liam
2023-11-30T14:34:33Z
2023-11-30T14:34:33Z
2023-06
http://hdl.handle.net/10230/58417
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Competition, Regulation and Markets Program. Curs 2022-2023
Tutor: Rodrigo Carril
This paper examines the competitive dynamics of crowdfunding platforms, evaluating hypothesis of competition and spillover effects. It first evaluates a ’Competition Hypothesis’ that considers that projects compete for funds from backers. The results from this initial analysis confirm that the number of overlapping projects on crowdfunding platforms decreases donations for a project, which is consistent with other papers in the existing literature. Expanding on the analysis, the main focus of the paper explores a new perspective of a ’Spillover hypothesis’ which considers the positive effect on donations from overlapping with high-performing projects. It hypothesises that successful projects may attract new investors, expanding the pool of potential investments and benefiting concurrent, overlapping projects. Using an Ordinary Least Squares (OLS) regression and various definitions of ’top projects’, the findings demonstrate that overlapping with other high performing projects positively impacts a project’s ability to raise pledge amounts. These findings are positive news for Crowdfunding platforms, who can advertise large successful projects to increase donations for other projects and maximise their revenues and also revenues for the creators on their platform. This is also beneficial for consumers, who gain access to products they otherwise would not have. Sensitivity analyses are conducted to explore the impact of competition across different project categories, these robustness tests confirm the validity of the results and ensure that they can be interpreted causally.
Este artículo examina la dinámica competitiva de las plataformas de crowdfunding, evaluando una hipótesis de competencia y otra de efectos indirectos (spillover effects). En primer lugar, se evalúa la "hipótesis de competencia" que considera que los proyectos compiten por los fondos de los financiadores. Los resultados de este análisis inicial confirman que el número de proyectos que se solapan en las plataformas de crowdfunding disminuye las donaciones para un proyecto concreto, lo que concuerda con otros trabajos de la literatura existente. Ampliando el análisis, este trabajo se centra en la nueva perspectiva de la “hipótesis del efecto spillover”. La hipótesis es que los proyectos de éxito pueden atraer a nuevos inversores, ampliando el conjunto de inversiones potenciales y beneficiando a los proyectos concurrentes que se solapan. Utilizando una regresión de mínimos cuadrados ordinarios (MCO) y varias definiciones de "proyectos punteros", los resultados demuestran que la coincidencia con otros proyectos de alto rendimiento repercute positivamente en la capacidad de un proyecto para recaudar fondos. Estos resultados son favorables para las plataformas de crowdfunding, que pueden publicitar grandes proyectos de éxito para aumentar las donaciones para otros proyectos, maximizando sus ingresos así como los de los creadores en su plataforma. Esto también beneficia a los consumidores, quienes pueden acceder a productos que de lo contrario no tendrían. Finalmente, se realizan análisis de robustez para explorar el impacto de la competencia en las distintas categorías de proyectos, los cuales confirman la validez de los resultados alcanzados, y aseguran que los mismos se pueden interpretar de modo causal.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-11-30T14:34:32Z
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application/pdf
eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
Spillover effects
Crowdfunding
Kickstarter
Substitution effect
Funding platforms
Efectos indirectos
Efectos de substitución
Plataformas de financiación
Evaluating the impact of competition and spillover effects in crowdfunding markets
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/58417
2023-12-07 09:36:18.341
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/584272023-12-07T13:38:01Zcom_10230_26995com_10230_16441col_10230_26999
Frønsdal, Karianne
Recusani, Susanna
2023-12-01T14:22:07Z
2023-12-01T14:22:07Z
2023-07
http://hdl.handle.net/10230/58427
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Economics of Energy, Climate Change, and Sustainability Program. Curs 2022-2023
Tutors: Rodrigo Carril i Mar Reguant
Norway, a BEV adoption leader, targets zero-emissions car market by 2025. This research explores charging point impact on Norwegian BEV adoption, considering public and private investment. Using event studies, QGIS geospatial analysis, the study uncovers key findings: it emphasises the role of charging infrastructure in promoting BEV adoption and enhances understanding of the Norwegian market. The results highlight the impact of charging point proximity and reveal no specific funding pattern for charging infrastructure. Heterogeneity analysis reveals varied BEV uptake based on demographics: age, income, and electricity prices. By examining these factors, the study provides valuable insights for sustainable transportation.
Esta investigación explora el impacto de los puntos de recarga en la adopción del BEV en Noruega, líder en adopción de BEV, teniendo en cuenta la financiación pública y privada. Utilizando event studies y análisis geoespaciales, el estudio enfatiza el papel de la infraestructura de recarga en la promoción de la adopción del BEV. Los resultados destacan el impacto de la proximidad de los puntos de recarga y no revelan ningún esquema de financiación específico para la infraestructura de recarga. Al examinar estos factores, el estudio proporciona información valiosa para el transporte sostenible.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-12-01T14:22:07Z
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application/pdf
eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
BEV adoption
Charging infrastructure
Norway
Adopción del BEV
Infraestructura de recarga
Noruega
Public and private investment in BEV charging infrastructure and spillover effects
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/58427
2023-12-07 14:38:01.615
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repositori@upf.edu
oai:repositori.upf.edu:10230/586082024-01-03T02:30:35Zcom_10230_26995com_10230_16441col_10230_26999
Leslie, Cathal
Tillo, David
Morris, Harry
Castillo, Lakshmi
Atazona, Luke
Cheeseman, William
2024-01-02T13:48:06Z
2024-01-02T13:48:06Z
2023-06
http://hdl.handle.net/10230/58608
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance, and Development Program. Curs 2022-2023
Tutors: Fernando Broner i Geert Mesters
Our paper investigates whether the 2007 earthquake in Ica, Perú had long lasting impacts through human capital accumulation in Perú. We conduct our analysis through a dynamic difference-in-difference and propensity score matching approach, constructing treatment rings based on actual earthquake intensity. We find that the earthquake had a significantly negative and persistent impact on several dimensions of education, including a 17 per cent increase in the student dropout rate. A common theme from our results is those who were youngest at the time of the earthquake are most impacted, consistent with the existing literature and 1000-day hypothesis. Our research highlights the importance of prioritizing limited resources on the young and most vulnerable in the aftermath of natural disasters.
Nuestro artículo investiga si el terremoto de 2007 en Ica, Perú, tuvo impactos a largo plazo a través de la acumulación de capital humano en Perú. Realizamos nuestro análisis utilizando un enfoque de diferencia en diferencia dinámica y propensity score matching, construyendo anillos de tratamiento basados en la¡ intensidad real del terremoto. Encontramos que el terremoto tuvo un impacto negativo y persistente significativo en varias dimensiones de la educación, incluyendo un aumento del 17 por ciento en la tasa de abandono escolar. Un tema recurrente en nuestros resultados es que quienes eran más jóvenes en el momento del terremoto son los más afectados, lo que concuerda con la literatura existente y la hipótesis de los 1000 días. Nuestra investigación resalta la importancia de priorizar los recursos limitados en los jóvenes y los más vulnerables en el período posterior a los desastres naturales.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2024-01-02T13:48:06Z
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application/pdf
eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Shaken foundations: the impact of the 2007 Perú earthquake on human capital accumulation
info:eu-repo/semantics/masterThesis
Natural disaster
Human capital accumulation
Desastres naturales
Acumulación de capital humano
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oai:repositori.upf.edu:10230/58608
2024-01-03 03:30:35.701
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/584292023-12-07T08:54:23Zcom_10230_26995com_10230_16441col_10230_26999
Alturki, Deema
Bernstein, Emil
Lara White, Isabela
2023-12-01T15:17:30Z
2023-12-01T15:17:30Z
2023-06-12
http://hdl.handle.net/10230/58429
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Macroeconomic Policy and Financial Markets Program. Curs 2022-2023
Tutors: Hugo Rodríguez-Mendizábal i Luca Gambetti
We empirically test the theoretical hypothesis that long term bonds offer governments fiscal insurance in times of crisis, analyzing Belgian sovereign debt dynamics during the 21st century. We use a novel data set of monthly prices and quantities for bonds in circulation between 2000 and 2022. We calculate total market value of debt and one- period holding returns, capturing the funding cost in the government’s inter temporal budget constraint. The main findings of the study indicate a positive co movement between bond prices and government net funding requirement during periods of financial distress, suggesting a limited role of long bonds in fiscal insurance.
Examinamos empíricamente la hipótesis teórica que bonos de larga duración ofrecen seguro fiscal a gobiernos en tiempos de crisis, analizando la deuda soberana Belga durante el siglo XXI. Utilizamos una novedosa base de datos de precios y cantidades de bonos en circulación entre 2000 y 2022. Calculamos valor de mercado total de la deuda y rendimientos de tenencia de un período, capturando costos de financiamiento en la limitación presupuestaria inter-temporal del gobierno. Encontramos co movimiento positivo entre precios de bonos y requerimientos de financiamiento gubernamentales netos durante períodos de crisis, sugiriendo un papel limitado de bonos largos en el seguro fiscal.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-12-01T15:17:30Z
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application/pdf
eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
Maturity structure
Financial crises
Debt management
Manejo de deuda
Estructura vencimiento
Crisis financiera
Fiscal insurance during financial distress: the case of Belgian sovereign debt in the 21st century
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/58429
2023-12-07 09:54:23.385
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/584302023-12-07T10:10:17Zcom_10230_26995com_10230_16441col_10230_26999
Ríos Juaristi, Silvia
Easterling, Joe
Torres Rojas, Inés
Contreras Contreras, Jimena
2023-12-01T15:32:47Z
2023-12-01T15:32:47Z
2023-06
http://hdl.handle.net/10230/58430
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Economics of Public Policy Program. Curs 2022-2023
Tutors: Ada Ferrer i Carbonell i Joan Llull
A large informal sector and a low minimum wage have contributed to persistently high rates of inequality and poverty across Mexico. In particular, the development of cities located along the Mexico-US border has lagged behind in recent decades. The Northern Border Free Zone was implemented to counter this stagnation through economically stimulating policies, including a doubling of the minimum wage. This paper applies a Difference-in-Differences approach to estimate the impact of the minimum wage increase on low-wage workers. We find that the minimum wage significantly increased the wages of low-wage workers in both the formal and informal sector. Whilst we do not find any evidence of disemployment effects in either sector, we do find that the policy caused low-wage workers to work significantly less hours per week.
Altas tasas de informalidad y salarios bajos han contribuido al aumento de la pobreza y desigualdad en todo México. En particular, el desarrollo de las ciudades ubicadas a lo largo de la frontera entre México y Estados Unidos se ha visto comprometido por esta problemática. La Zona Libre de la Frontera Norte se implementó para contrarrestar este estancamiento mediante políticas de estímulo económico, incluida la duplicación del salario mínimo. En esta investigación se emplea el método de diferencias en diferencias para estimar el impacto del aumento del salario mínimo en los trabajadores con salarios bajos. Los resultados sugieren que esta política aumentó significativamente los salarios de los trabajadores con salarios bajos tanto en el sector formal como en el informal. Si bien no encontramos ninguna evidencia de efectos negativos sobre el empleo en ninguno de los sectores, sí encontramos que la política provocó que los trabajadores con salarios bajos trabajaran significativamente menos horas por semana.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-12-01T15:32:47Z
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application/pdf
eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
Minimum wage
Labor markets
Difference-in-differences
Salario mínimo
Mercados laborales
Diferencias en diferencias
The impact of a minimum wage increase on labour market outcomes: evidence from the northern Mexican border
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/58430
2023-12-07 11:10:17.726
Repositori digital de la UPF
repositori@upf.edu
oai:repositori.upf.edu:10230/584602023-12-07T08:31:40Zcom_10230_26995com_10230_16441col_10230_26999
Hunter, Timothy
Garcia Aguilar, Ferran
2023-12-05T15:12:40Z
2023-12-05T15:12:40Z
2023-06-12
http://hdl.handle.net/10230/58460
Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Macroeconomic Policy and Financial Markets Program. Curs 2022-2023
Tutors: Luca Gambetti i Hugo Rodriguez
We study text indicators to improve banking crisis forecasts. Using newspaper headlines from 18 countries over 1950-2019, we apply latent dirichlet allocation (lDA) to extract topic frequencies summarising the economic news written about a country. Including these variables in a logit model, we find significant improvement in predicting banking crises, but there is evidence that this is due to random chance, and results are not replicated using random forests. This runs counter to findings from other authors, suggesting that lDA may be over-sensitive to specification. Thus, further research should refine the lDA process, to establish a standardised approach across research.
Estudiamos indicadores basados en texto para mejorar la predicción de crisis bancarias. Usando titulares periodísticos de 18 países durante 1950-2019, aplicamos la asignación latente de Dirichlet (lDA) para extraer frecuencias sobre temas latentes en las noticias. Incluyéndolas en un modelo logit, encontramos una mejora significativa en el rendimiento, pero hay indicios de que puede ser debido al azar. Además, los resultados no se replican utilizando random forests. Al contradecir los resultados de otros autores, sugerimos que lDA puede ser sensible a su especificación. En futuras investigaciones se debería estandarizar el proceso lDA para establecer un marco común en éstas.
Submitted by MARIA PORT PUIG (maria.port@upf.edu) on 2023-12-05T15:12:40Z
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eng
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
https://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Treball de fi de màster – Curs 2022-2023
Banking crisis prediction
Natural language processing
Latent Dirichlet allocation
Predicción de crisis bancarias
Procesamiento de lenguajes naturales
Asignación latente de Dirichlet
Banking crisis prediction: exploring the role of text-based indicators
info:eu-repo/semantics/masterThesis
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oai:repositori.upf.edu:10230/58460
2023-12-07 09:31:40.982
Repositori digital de la UPF
repositori@upf.edu