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In this study, we consider the role of a publicly owned platform and programme quality in the free-to-air broadcasting industry. We compare the equilibrium levels of advertising under private and mixed duopoly competition, and show that the connection between programme quality and advertising...
Persistent link: https://www.econbiz.de/10010350364
This paper investigates a timing game in a mixed duopoly, whereby a relatively inefficient state-owned firm maximizing the linear combination of its profit and social welfare competes against a relatively efficient, profit-maximizing private firm over the timing of entry. We find that the...
Persistent link: https://www.econbiz.de/10015070463
Persistent link: https://www.econbiz.de/10009355410
are important in accounting for aggregate fluctuations in Spain. The model is estimated with Bayesian techniques and data …
Persistent link: https://www.econbiz.de/10009355412
Persistent link: https://www.econbiz.de/10009355415
This paper presents the model used for simulation purposes within the Spanish Ministry of Economic Affairs and Finance. REMS (a Rational Expectations Model for the Spanish economy) is a small open economy dynamic general equilibrium model in the vein of the New-Neoclassical-Keynesian synthesis...
Persistent link: https://www.econbiz.de/10009355416
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In the last 15 years, Spain has witnessed a large increase in housing prices and in the importance of the housing … sector, which has refreshed the debate on the drivers of housing cycles. Since Spain joined the European Monetary Union (EMU … currency area with durable goods, using data for Spain and the rest of the EMU. We find that parameter estimates are similar to …
Persistent link: https://www.econbiz.de/10009355418
Persistent link: https://www.econbiz.de/10009355419
Bayesian dynamic stochastic general equilibrium (DSGE) models combine microeconomic behavioural foundations with a full-system Bayesian likelihood estimation approach using key macro-economic variables. Because of the usefulness of this class ofmodels for addressing questions regarding the...
Persistent link: https://www.econbiz.de/10009355420