Articles publicats en revistes (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))
URI permanent per a aquesta col·leccióhttps://diposit.ub.edu/handle/2445/184324
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ArticleExpected, unexpected, good and bad aggregate uncertainty(De Gruyter, 2022) Uribe Gil, Jorge Mario; Chuliá Soler, HelenaWe study aggregate uncertainty and its linear and nonlinear impact on real and financial markets. By distinguishing between four general notions of aggregate uncertainty (good-expected, bad-expected, good-unexpected, bad-unexpected) within a simple, common framework, we show that it is bad-unexpected uncertainty shocks that generate a negative reaction of economic variables (such as investment and consumption) and asset prices. Our results help to elucidate the real, complex nature of uncertainty, which can be both a backward- or forward-looking expected or unexpected event, with markedly different consequences for the economy. We also document nonlinearities in the propagation of uncertainty to both real and financial markets, which calls for the close monitoring of the evolution of uncertainty so as to help mitigate the adverse effects of its occurrence- ArticleAn evaluation of optimal scale and jurisdiction size to improve efficiency in metropolitan bus systems(Elsevier Ltd., 2023) Albalate, Daniel, 1980-; Bel i Queralt, Germà, 1963-; Rosell i Segura, JordiUrban bus services operate under concession regime in many cities around the world. Their area boundaries are usually an institutional or administrative legacy, which do not necessarily meet the criteria of optimal jurisdictions. This means that some concessions suffer from a sub-optimal size, either because they are too small, and so fail to exploit economies of scale and/or density, or too big, and so operate in diseconomies of them. This study, by estimating the values of the economies of scale and density for the regulated concessions, identifies the dimensions for optimal exploitation in the Barcelona Metropolitan Area (AMB) for public and private bus providers. Our data cover the period 2012-2018 and we apply a stochastic frontier model for panel data to estimate both economies of scale and density. We found that the optimal size for a passenger bus service concession in terms of economies of scale in the AMB is between 0.5 and 1 million net km per annum. In the case of density economies, the size is considerably lower, at somewhere between 430,000 and 1,000,000 net km per year. We recommend ensuring that the size of the service provision area is optimal before the tendering process.
- ArticleQuality and Environmental Management Systems as Business Tools to Enhance ESG Performance: A Cross-Regional Empirical Study(Springer Nature, 2023) Ronalter, Louis Maximilian; Bernardo Vilamitjana, Mercè; Romaní Fernández, Javier, 1969-The growing societal and political focus on sustainability at global level is pressurizing companies to enhance their environmental, social and governance (ESG) performance to satisfy respective stakeholder needs and ensure sustained business success. With a data sample of 4292 companies from Europe, East Asia and North America, this work aims to prove through a cross-regional empirical study that quality management systems (QMSs) and environmental management systems (EMSs) represent powerful business tools to achieve this enhanced ESG performance. Descriptive and cluster analyses reveal that firms with QMSs and/or EMSs accomplish statistically significant higher ESG scores than companies without such management systems (MSs). Furthermore, the results indicate that operating both types of MSs simultaneously increases performance in the environmental and social pillar even further, while the governance dimension appears to be affected mainly by the adoption of EMSs alone. To the best of the authors' knowledge, such large-scale, cross-regional analysis of the impact of QMSs and EMSs on ESG performance is absent from the literature, thus paving the way for pioneering academic research. The study is grounded in stakeholder theory and demonstrates managers how the implementation of MSs can assist in successfully translating stakeholders' sustainability concerns into actionable business practice. Furthermore, it allows decision-makers to gain insight into the strengths and weaknesses of QMSs and EMSs for tackling specific ESG issues and highlights the performance advantages of combining both MSs. The work also depicts policymakers how corporate sustainable performance (CSP) can be improved by fostering MSs adoption, thereby emphasizing the importance of supporting and facilitating the diffusion of these systems.
- ArticleThe impact of aging drivers and vehicles on the injury severity of crash victims(MDPI, 2022-12-14) Santolino, Miguel; Céspedes, Luis; Ayuso, MercedesAgainst a general trend of increasing driver longevity, the injuries suffered by vehicle occupants in Spanish road traffic crashes are analyzed by the level of severity of their bodily injuries (BI). Generalized linear mixed models are applied to model the proportion of non-serious, serious, and fatal victims. The dependence between vehicles involved in the same crash is captured by including random effects. The effect of driver age and vehicle age and their interaction on the proportion of injured victims is analyzed. We find a nonlinear relationship between driver age and BI severity, with young and older drivers constituting the riskiest groups. In contrast, the expected severity of the crash increases linearly up to a vehicle age of 18 and remains constant thereafter at the highest level of BI severity. No interaction between the two variables is found. These results are especially relevant for countries such as Spain with increasing driver longevity and an aging car fleet.
- ArticleAcute respiratory infection rates in primary care anticipate ICU bed occupancy during COVID-19 waves(Public Library of Science (PLoS), 2022-05-01) Guillén, Montserrat; Bardes Robles, Ignasi; Bordera Cabrera, Ester; Acebes Roldán, Xénia; Bolancé Losilla, Catalina; Jorba, Daniel; Moriña, DavidBackground: Bed occupancy in the ICU is a major constraint to in-patient care during COVID-19 pandemic. Diagnoses of acute respiratory infection (ARI) by general practitioners have not previously been investigated as an early warning indicator of ICU occupancy. Methods: A population-based central health care system registry in the autonomous community of Catalonia, Spain, was used to analyze all diagnoses of ARI related to COVID-19 established by general practitioners and the number of occupied ICU beds in all hospitals from Catalonia between March 26, 2020 and January 20, 2021. The primary outcome was the cross-correlation between the series of COVID-19-related ARI cases and ICU bed occupancy taking into account the effect of bank holidays and weekends. Recalculations were later implemented until March 27, 2022. Findings: Weekly average incidence of ARI diagnoses increased from 252.7 per 100,000 in August, 2020 to 496.5 in October, 2020 (294.2 in November, 2020), while the average number of ICU beds occupied by COVID-19-infected patients rose from 1.7 per 100,000 to 3.5 in the same period (6.9 in November, 2020). The incidence of ARI detected in the primary care setting anticipated hospital occupancy of ICUs, with a maximum correlation of 17.3 days in advance (95% confidence interval 15.9 to 18.9). Interpretation: COVID-19-related ARI cases may be a novel warning sign of ICU occupancy with a delay of over two weeks, a latency window period for establishing restrictions on social contacts and mobility to mitigate the propagation of COVID-19. Monitoring ARI cases would enable immediate adoption of measures to prevent ICU saturation in future waves.
- ArticleThe ability of European regions to diversify in renewable energies: The role of technological relatedness(Elsevier, 2022-01) Moreno Serrano, Rosina; Ocampo-Corrales, Diego B.Despite the global consensus about the growing significance of renewables, the regional drivers of innovation in these unique and novel technologies have been widely neglected in the literature. In this paper, we show that renewable energy (RE) inventions differ from other green inventions in the knowledge recombination processes leading to their generation as well as in their impact on subsequent inventions. The evidence on these specificities of RE technologies allows us hypothesizing that regional branching in renewables may rely on relatedness differently than other non-RE green technologies. In checking this hypothesis, we use a data set spanning the period 1981-2015 covering 277 European NUTS2 regions in the EU28 countries plus Norway. We obtain that relatedness is highly relevant in explaining regional specialization in RE, and more relevant than for other green technologies, which we associate to the lower generality in their impact and the narrower scope of the knowledge from which they nurture. This conclusion is maintained when considering separately regions with high and low development levels. However, the impact of relatedness increases for RE as the regional economic development decreases, signaling that a low endowment of resources and capabilities does not allow the region to break from its past technological specialization, depending more on relatedness. This would not be the case for other green technologies, probably due to their higher level of generality and wider scope.
- ArticleMinimum wages, youth employment and spatial spillovers: New evidence for Spain(Springer Science + Business Media, 2022) López-Tamayo, Jordi; Melguizo Cháfer, Celia; Ramos Lobo, RaúlThe effect of minimum wages increases on youth employment level has been extensively analysed, but recent contributions have highlighted the potential bias in these studies due to neglected spatial autocorrelation in the considered relationship. This paper contributes to this scarce literature by providing novel evidence for a country with very low interregional mobility. The aim is to see if the bias of neglecting spatial dependence acts in a similar direction than in the few studies for the United States and if this bias explains the low elasticity of youth employment to minimum wages in Spain compared to the international literature. Our results show the relevance of spatial spillovers in the Spanish regional labour markets, but after correcting for the bias, we do not find a significant negative elasticity of youth employment to minimum wages, with the only exception of those between 16 and 19 years old.
- ArticleMeasuring the impact of ride-hailing firms on urban congestion: The case of Uber in Europe(Blackwell, 2021-04-01) Fageda, Xavier, 1975-This paper examines the impact of Uber, the world's largest ride-hailing firm, on congestion. Drawing on data from European cities for the period 2008 through 2016, I find a negative impact of Uber on congestion. The estimated impact in the baseline regression is 3.5 percentage points, but it is higher in cities that do not impose strong regulatory restrictions to ride-hailing services. In addition, the negative impact of Uber on congestion is only statistically significant in denser cities. The Uber effect is gradual given that its impact increases over time. Finally, I find suggestive evidence that the potential endogeneity bias underestimates the negative effect of Uber on congestion.
- ArticleRegional borders, local unemployment, and life satisfaction(Wiley, 2022-03) Di Paolo, Antonio; Ferrer i Carbonell, AdaIn this paper, we provide novel evidence on the effect of local unemployment rate on life satisfaction. With this, we contribute to the expanding literature that aims to understand the role of the local labor market's conditions for individual well-being. This information can be used to only analyze the impact of regional economic policies, as well as to understand individuals' behavior and reactions to policy changes. In concrete, we investigate how changes in local unemployment rate affect subjective well-being in Germany, allowing for the presence of spatial spillovers and considering the role played by regional borders. The results indicate that higher unemployment in the own local area of residence has a negative effect on satisfaction. Similarly, individuals' happiness negatively correlates with the unemployment rate in contiguous local areas, but only if these areas are located in the same Federal State as the one where the individual lives. Heterogeneity analysis reveals that these negative effects of local unemployment rate are larger for individuals with stronger ties to the job market and less secure jobs.
- ArticleOn the relationship between congestion and road safety in cities(Elsevier Ltd, 2021-05-01) Albalate, Daniel, 1980-; Fageda, Xavier, 1975-We empirically examine the relationship between traffic congestion and deaths in road accidents at the city level. We use panel data from 130 large cities in Europe for the period 2008-2017. We find strong evidence of a quadratic relationship between congestion and deaths in accidents, using both parametric and non-parametric econometric techniques. The threshold point at which the relationship between congestion and deaths in accidents is reversed and becomes positive occurs when congestion results in about a 30 per cent increase in travel time compared to a free flow situation. For most congested cities, any effective measure to contain congestion may also lead to better safety outcomes.
- Document de treballExpected, Unexpected, Good and Bad Uncertainty(Universitat de Barcelona. Facultat d'Economia i Empresa, 2019) Chuliá Soler, Helena; Uribe Gil, Jorge MarioBy distinguishing between four general notions of uncertainty (good expected, bad-expected, good-unexpected, bad-unexpected) within a common and simple framework, we show that it is bad-unexpected uncertainty shocks that generate a negative reaction of macroeconomic variables (such as investment and consumption), and asset prices. Other notions of uncertainty might produce even positive responses in the macroeconomy. We also show that small uncertainty shocks might have larger impacts on economic activity and financial markets than bigger shocks between one to three years after its realization. We explore the time and magnitude of uncertainty shocks by means of a novel distributed lag nonlinear model. Our results help to elucidate the real and complex nature of uncertainty, which can be both a backward or forward-looking expected or unexpected event, with markedly different consequences for the economy. They have implications for policy making, asset pricing and risk management.