Articles publicats en revistes (Economia)
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- ArticleSocial Security Reforms, Retirement and Sectoral Decisions(Economics Dept. of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association [etc.], 2026-07-24) Delalibera, Bruno R.; Cavalcanti Ferreira, Pedro; Machado Parente, RafaelWe study social security reforms in economies with segmented labor markets and pension systems. We develop a life-cycle general equilibrium model with heterogeneous agents and endogenous retirement and sectoral choice across public, formal, and informal jobs. Calibrated to Brazil, the model shows that unifying pension systems and raising the minimum retirement age reduce the pension deficit by nearly 40 percent, while increasing output, capital accumulation, and welfare, despite redistributive effects across age groups, sectors, and along the transition path. Sectoral reallocation plays a central role in shaping reform effects, and ignoring these margins substantially underestimates the macroeconomic consequences of pension reforms.
- ArticleDeposit insurance in a sequential-service constrained environment(Elsevier B.V., 2025-07-01) Barros, Fernando, Jr.; Cruz, Samuel; Delalibera, Bruno R.; Silva, DiegoWe study the effect of a deposit insurance scheme (DIS) in an economy with multiple isolated banks. Participant banks fund the scheme, which follows a pre-determined insurance payment scheme. An external player transfers insurance benefits to all banks where depositors are running. The total insurance payment depends on resources collected by the external authority and the number of eligible queues to receive the insurance benefit. We discuss the effect of DIS on the optimal payment contract. More specifically, we analyze the existence of bank-run equilibria and whether the optimal payment contract is incentive-compatible. We find that DIS prevents bank-run equilibria at the same time that it may expose the environment to contagion. We also see that the insurance policy relaxes the truth-telling condition for general parameters.
- ArticleDo consumption categories respond differently to indebtedness shocks across business cycle stages?(Taylor & Francis, 2025-09-15) Barros, Fernando, Jr.; Delalibera, Bruno R.; Galle, Juliano M.; Gomes, Fábio A. R.This paper investigates how household consumption of durable goods, nondurable goods, and services responds to unexpected changes in indebtedness within a threshold vector-autoregression (TVAR) framework. Two regimes emerge: good times, when the lagged output gap exceeds a data-driven threshold, and bad times, when it falls below. A positive indebtedness shock raises consumption of nondurable goods and services, with the effect strongest in bad times. By contrast, durable-goods spending declines in the bad-times regime. These findings imply that North American households rely on additional borrowing to smooth everyday expenditures, but cut back on big-ticket purchases when macroeconomic conditions deteriorate, even if they remain optimistic about future income.
ArticleA Systematic Review of the Economic Burden of Prostate Cancer: Direct and Indirect Cost Perspectives(ADIS Press International, 2026-02-06) Darbà, Josep; Ascanio, Meritxell; Rodríguez, AntonioIntroduction Prostate cancer (PC) is the second most common cancer in men. Although many studies have assessed its economic burden, no recent reviews have focused on studies conducted under current clinical guidelines. This study systematically reviews recent cost-of-illness studies evaluating direct and indirect costs associated with PC. Methods A systematic search was conducted using the PICOS framework and a combination of free-text and MeSH terms in PubMed and the Cochrane Library, and only free-text terms in EconLit. The search included articles published between January 2015 and October 2025. Data on total, direct, and indirect costs were extracted and synthesized. All costs were converted to 2025 USD, and quality of studies was assessed with a simplified version of the CHEERS checklist. Results Ninety-five studies met the inclusion criteria. Direct medical costs for non-metastatic prostate cancer (nmPC) varied widely by disease stage, treatment, and country, ranging from approximately US$1200 to US$280,000 per patient-year, with higher costs observed in advanced stages and in patients experiencing treatment-related adverse events (AEs). Progression to metastatic disease was associated with a marked cost escalation, with annual costs largely driven by systemic therapies and skeletal-related events. Indirect costs ranged from US$666 to US$12,900 per patient-year and accounted for up to 30% of total PC-related costs, primarily due to productivity losses from premature mortality. Conclusions PC imposes a substantial economic burden on healthcare systems and society, particularly in advanced stages. Policy promoting early detection, risk-adapted treatment, and equitable therapy access may help contain costs. Further research should address the economic impact of emerging diagnostics and minimally invasive interventions.- ArticlePancreatic cancer mortality and associated productivity losses in Spain: A population-based estimate (2013-2022)(Elsevier B.V., 2026-01-09) Darbà, Josep; Ascanio, Meritxell; Rodríguez, AntonioBackground: Pancreatic cancer remains as the cancer type with the poorest prognosis, characterized by rising incidence and mortality rates. This disease imposes a substantial economic burden, including productivity losses resulting from premature mortality. Objective: This study aims to estimate productivity losses due to premature deaths from pancreatic cancer in Spain during the period 2013–2022. Methods: Productivity costs were quantified using a simulation model based on the human capital method. Data on mortality rates, average salaries, and employment rates were obtained from the Spanish Instituto Nacional de Estadística for the entire study period. Results: Between 2013 and 2022, the number of deaths due to pancreatic cancer in Spain increased from 6039 to 7973 and, by 2022, pancreatic cancer became the leading cause of death among digestive system tumours. This rise was accompanied by an increase in Years of Potential Labour Productive Life Lost due to premature death (YPLPLL): for men, YPLPLL grew from 8146 in 2013 to 9650 in 2022, and for women, from 4699 to 6053 over the same period. Consequently, labour productivity losses were estimated at €253.40 million in 2013, rising to €406.20 million in 2022, with a cumulative cost of €3253.97 million during the study period. Conclusions: These findings provide valuable insights into the societal costs of pancreatic cancer in Spain. Investments in targeted strategies focusing on prevention, early detection, and advanced-stage therapies for pancreatic cancer have the potential to significantly reduce its future economic and health impacts.
- ArticleEconomic burden of heart failure in Europe: A systematic review of costs and cost-effectiveness(John Wiley & Sons, 2025-12-01) Darbà, Josep; Ascanio, Meritxell; Rodríguez, Antonio; STRATIFYHF InvestigatorsHeart failure (HF) affects over 64 million individuals worldwide and is a major cause of hospitalization and mortality, particularly among older adults. In Europe, HF imposes a significant and growing economic burden. This systematic review aimed to evaluate the economic impact of HF diagnosis, treatment and management across European healthcare systems. A systematic literature search was conducted using PubMed, Cochrane Library and Econlit databases including the terms ‘heart failure’ AND ‘costs’ OR ‘cost of illness’ OR ‘cost analysis’ OR ‘economic burden’ OR ‘cost effectiveness’ OR ‘primary care’ OR ‘secondary care’. Studies published between January 2000 and January 2024 were included. A total of 49 studies were included: 17 on resource use, 11 on costs, 15 on resource use and costs, 1 on costs and cost-effectiveness, and 5 on resource use, costs and cost-effectiveness. Hospitalizations and medication use were the most frequently reported resource parameters. Annual HF-related costs varied widely across countries, ranging from €613 to €22,647 per patient. Hospitalizations represented the primary cost driver, accounting for 15% to 92% of total HF costs. Cost-reduction strategies included multidisciplinary care, telemonitoring and pharmacologic interventions. Several disease management programmes reduced hospital admissions and emergency visits. Cost-effectiveness analyses supported the use of certain HF therapies, with incremental cost-effectiveness ratios ranging from €1490 to €9406 per QALY gained. F imposes a substantial economic burden in Europe, largely driven by hospitalizations. Cost-effective interventions such as remote monitoring and integrated care programmes can reduce this burden. Broader adoption of these strategies may improve outcomes and optimize resource allocation across healthcare systems.
- ArticleProductivity costs associated with premature deaths due to acute myocardial infarction in Spain: analysis from 2013 to 2022(Springer Verlag, 2025-12-30) Darbà, Josep; Ascanio, Meritxell; Rodríguez, AntonioIntroduction Acute myocardial infarction is one of the leading causes of death in Spain and a contributor to productivity loss. This condition represents an economic burden, involving significant indirect costs. Our objective here is to estimate premature deaths and productivity losses due to acute myocardial infarction in Spain during the period 2013–2022. Methods Productivity costs were estimated using a simulation model based on the human capital method. Mortality rates, average salaries, and employment rates were collected for the entire study period. Results After the analysis, acute myocardial infarction was identified as the leading cause of premature deaths related to cardiovascular diseases, accounting for 24% over the 10-year period. Additionally, an annual average of 26,935 YPLPLL was determined, with total productivity losses estimated at €5574.31 million, showing an upward trend over the reference period 2013–2022. Conclusions The study concludes by emphasizing the economic burden associated with acute myocardial infarction, which can assist decision-makers in allocating resources more efficiently.
- ArticleEconomic consequences of premature mortality due to brain cancer in Spain: a human capital approach(Clayton-Wray Publications Ltd., 2025-07-26) Darbà, Josep; Ascanio, MeritxellObjective: Although primary malignant brain and central nervous system (CNS) tumours arerelatively rare, they contribute disproportionately to cancer-related mortality due to their highfatality rates and aggressive progression. This study quantifies the economic impact of braincancer-related premature deaths in Spain from a societal perspective.Methods: We employed the human capital approach to estimate productivity losses from braincancer mortality. Age- and sex-specific mortality, employment rates, and average salaries (2013–2022) were obtained from the Spanish National Statistics Institute. We calculated years of poten-tial labour productive life lost (YPLPLL) and applied a 3% discount rate to estimate the presentvalue of future income losses. Sensitivity analyses were conducted using alternative discountrates (0 and 6%) and varying assumptions about retirement age, wage, and employment rates.Results: Brain cancer accounted for 2–3% of all cancer-related deaths in Spain, with a higherburden in men. Approximately 44% of deaths occurred in working-age individuals, resulting inan estimated 157,396 YPLPLL and e2.78 billion in productivity losses over the study period.Sensitivity analyses showed a range of e2.08–3.48 billion. On average, this equates to e309 mil-lion annually, or around e8 per working-age individual.Conclusion: Despite its low incidence, brain cancer imposes a substantial economic burden dueto premature mortality during peak productive years. These findings underscores the impor-tance of enhancing prevention, early diagnosis, and care delivery, particularly in ageing popula-tions and high-income countries such as Spain.
- ArticleExogenous and endogenous factors affecting the social impact of cultural projects: the case of Barcelona ecosystem(SpringerOpen, 2023-03-15) Bonet, Lluís (Bonet i Agustí); Calvano, Giada; Fernandez Compañ, PabloCultural projects, particularly when aiming at social impact, are usually the result of the context, values, and social fabric. Some endogenous factors, such as governance models and availability of resources, mainly committed human resources, could explain their particular development as well, despite being widely recurrent. Cultural policies are also determined by dominant social values and usually respond to the territorial context. But to what extent are these also enabling factors for the development of cultural projects with specific social goals? The present article intends to study the emergence of cultural projects with a clear intentionality of social impact in the local context of Barcelona. Starting from the analysis of 14 cases, the article evaluates the exogenous and endogenous factors and typologies of programmes implemented in order to understand the non-linear complexity of social impact generation in the case of cultural projects.
- ArticleDurable and nondurable consumption responses to indebtedness shocks: A cross-country analysis(Economics Bulletin, 2025-09-30) Barros, Fernando, Jr.; Delalibera, Bruno R.; Galle, Juliano; Gomes, FábioUsing a Panel-VAR model for 20 OECD countries from 2007Q3 to 2019Q4, we examine how durable and nondurable goods consumption responds to household indebtedness shocks. Our results indicate that durable good consumption responds more strongly and negatively to an indebtedness shock compared to nondurable consumption. Additionally, higher household indebtedness is associated with a decline in economic activity. These findings can inform policies aimed at mitigating the adverse effects of household indebtedness, particularly during periods of contractionary monetary policy, when higher interest rates increase debt service burdens and compromise future disposable income.
- ArticlePhD graduates in Spain: does it pay to study it abroad?(Emerald Publishing, 2025-10-31) Dopeso-Fernández, Roberto; Kucel, Aleksander; Vilalta-Bufí, MontserratPurpose:This paper studies early labor market effects of doing a PhD fully in Spain, partially abroad or fully abroad for a sample of recent young Spanish doctorate graduates. We check their pecuniary (wage) and non-pecuniary (education-job match) job qualities to see how well they fare in the labor market just after obtaining their PhDs.Design/methodology/approach: We use 2019 data to see if Spanish PhDs obtain well-paid and matching jobs depending on where they completed their thesis. We distinguish between doing the PhD entirely in Spain, partially between Spain and abroad or completely abroad. We use inverse probability weighting methods to bring our treatment groups (doing a PhD partly or fully abroad) as close as possible to an experimental assignment. We also control for selection into employment to reduce the possible selection bias.Findings: We find that most of the positive effects of studying abroad occur when people decide to live and work abroad after their PhD. This indicates a lack of adequate jobs for PhD holders in Spain. Nevertheless, we observe some positive wage returns to study abroad among those that remain in Spain.Originality/value: There are virtually no studies on PhD careers in Spain from the last decade and very scarce research on the topic in general. We use very recent data and find strong indications of possible brain drain from of PhDs from Spain. Our research has direct policy implications as we study both pecuniary (wage) and non-pecuniary (education-job match) job qualities. The government needs to issue policies to increase wages and improve the matching of PhDs in the labor market, particularly out of academia.
- ArticleIntroduction Special Issue “Time for a Real Tax Reform-2025”(Instituto de Estudios Fiscales, 2025) Boadway, Robin; Durán Cabré, José MaríaThese are challenging times for government policymakers. Fiscal systems are gradually recovering from the COVID-19 pandemic, but relatively high public debt and deficit levels persist. Addressing them is complicated by many persisting and emerging factors. Two issues are dominant. One is the slowdown in productivity growth rates, which reduces the automatic increases in tax revenues that many countries have relied on to finance improvements in the level and quality of public services and transfers. The other is the gradual increase in inequality of incomes and in the relative share of capital to labour income. The result is growing wealth inequality, with a high proportion of wealth being owned by relatively few super-wealth individuals. This leads to a polarized society with less privileged persons facing falling living standards and opportunities and wealthy persons seemingly able to exercise an unhealthy amount of influence on the political process.
- ArticleUnpacking the Rural-Urban Divide: Identities and Stereotypes(Elsevier, 2025-08-01) Breitenstein Gomis, Sofia Helen; Rodon, Toni; Riambau Armet, Guillem; Rodilla, AndreuThe resurgence of the rural–urban divide as a factor shaping political attitudes has gained increasing attention in both public and academic discourse. Although often framed in terms of social identities, less is known about whether people actually express rural or urban identities in their own terms. This study investigates whether rural and urban identities exist independently of other identities such as class or ideology, and how they shape perceptions of in-groups and out-groups. Drawing on open-ended survey responses from a representative sample in Spain – a context where the rural–urban divide has gained political relevance – we use a novel text analysis approach to examine how individuals describe the groups they identify with. Findings show that rural–urban identities surface only marginally without explicit prompting, while identities tied to age, ideology, and education are more salient. When primed, some stereotypical traits emerge: rural communities are associated with nature and a relaxed lifestyle, while urban ones are linked to stress and individualism. A more uniform and stereotyped view of rural areas also appears across both rural and urban respondents.
- ArticleSaving behavior and the intergenerational allocation of leisure time(Elsevier, 2025-12-01) Cerina, Fabio; Raurich, XavierWe study how cross-country cultural differences in the intergenerational allocation of leisure time affect savings and working time. To do so, we consider a life-cycle model in which leisure and consumption are complementary and individuals decide on the intertemporal allocation of consumption, on leisure time and on its allocation among individuals of the same generation or of a different one. The latter decision margin determines the equilibrium utility services from leisure that individuals obtain in each life time period. We show that economies in which older individuals obtain higher leisure services have higher savings rates, higher stock of capital per worker and higher fraction of time worked. Using data from the World Value Survey, we provide empirical support to these findings. Our results suggest that cultural differences in leisure allocation play a structural role in shaping cross-country differences in savings and labor supply.
- ArticleGender Differences in High-Stakes Performance and College Admission Policies(INFORMS (Institute for Operations Research and the Management Sciences), 2025-10-01) Arenas Jal, Andreu; Calsamiglia, CaterinaThe Gale-Shapley algorithm is one of the most popular college allocation mechanisms around the world. A crucial policy question in its setting is designing admission priorities for students, understanding how they disadvantage certain demographic groups, and whether these differences relate to differences in college performance potential. Studying a policy change in Spain, we find a negative effect of increasing the weight of standardized high-stakes exams on female college admission grades, driven by students expected to be at the top. The impact on admission grades does not affect enrollment, but the percentage of female students in the most selective degrees declines, along with their career prospects. Using data on the college performance of prereform cohorts, we find that female students most likely to lose from the reform tend to do better in college than male students expected to benefit from the reform. The results show that rewarding high-stakes performance in selection processes may come along with gender differences unrelated to the determinants of subsequent performance.
- ArticleProduct Quality and Price Dynamics over the Business Cycle(Wiley, 2021-06-16) Arespa Castelló, Marta; Gruber, DiegoTwo puzzling facts of international real business cycles are (1) weak or negative correlations between the terms of trade and output, and (2) a rise in relative consumption for countries where national goods become relatively more expensive. We show that these puzzles either vanish or become much weaker in recent data. We propose a new mechanism that generates endogenous international price movements that are consistent with both the 'old' and the 'new' facts. In this mechanism, firms operating in a monopolistically competitive environment adjust price and quality of their products in response to technological shocks. This model is consistent with the old facts if price levels are not adjusted for quality. Instead, if quality adjustments to price level are introduced, then the model's properties are in line with the new facts.
- ArticleAnalytic Approximation for Bachelier Option Prices and Applications(MDPI, 2026-06-06) Alòs, Elisa; Burés Mogollón, ÒscarIt is well-known that, in the Bachelier model, when asset prices and volatilities are uncorrelated, the at-the-money implied volatility coincides with the fair value of the volatility swap. Using this identity as a starting point and applying classical Itô calculus and Taylor expansions, we write the price for out-of the-money (OTM) and in-the-money (ITM) options as an expansion with respect to the moneyness, where the coefficients are related to the negative (non-integer) powers of the future mean volatility. As an a application, we use it as a control variate to reduce the variance of Monte Carlo option prices in the correlated case.
- ArticleEconomic complexity and robot adoption(Taylor & Francis) Barros, Fernando, Jr.; Delalibera, Bruno R.; Ribeiro, Marcos J.This paper examines the relationship between economic complexity and industrial robot adoption. Using panel data for 61 countries from 1996 to 2023 and a dynamic panel System GMM approach, we find that higher robot density is significantly associated with greater economic complexity. Notably, this association appears stronger in countries with a larger share of low-skilled workers.
- ArticleCross-fertilization of knowledge and technologies in collaborative research projects(Emerald Publishing, 2021-03-22) González-Piñero, Manel; Páez Avilés, Cristina; Juanola, Esteve; Samitier i Martí, JosepThis paper aims to explore how the cross-fertilization of knowledge and technologies in EU-funded research projects, including serious games and gamification, is influenced by the following variables: multidisciplinarity, knowledge base and organizations (number and diversity). The interrelation of actors and projects form a network of innovation. The largest contribution to cross-fertilization comes from the multidisciplinary nature of projects and the previous knowledge and technology of actors. The analysis draws on the understanding of how consortia perform as an innovation network, what their outcomes are and what capabilities are needed to reap value.
- ArticleProduction networks and structural transformation(Elsevier B.V., 2026-03-01) Barros, Fernando, Jr.; Delalibera, Bruno R.; Ribeiro, Marcos J.; Teignier, MarcWe examine the aggregate effects of greater integration of traditional and modern services into national supply chains. Using international input–output data, we document substantial cross-country variation in the composition of intermediate goods and identify distinct sectoral patterns. That is, modern services are more prevalent in advanced economies and are becoming increasingly central within production networks. To evaluate the implications, we construct a multisector general equilibrium model incorporating firm-level frictions in labor hiring and intermediate input purchases. These distortions weaken intersectoral linkages and distort production efficiency. Reducing them to US levels generates significant gains – aggregate output increases by 27% on average and by 50% in developing economies – while accelerating structural transformation toward services, particularly modern services, and enhancing their network centrality.