The aim of this paper is to obtain empirical evidence about the influence of the public debt externalities of the central and regional governments have on the credit rating of the Spanish Autonomous Communities. The analysis was done by estimating an ordered probit model from panel data for the...

This study analyses the Foreign Direct Investment (FDI) effects on the macroeconomic dynamics of Bolivian economy. For this purpose, a Structural Vector Autoregression model (SVAR) is used. The results show the expected signs according to economic theory, which implies a positive effect of...

The aim of this article is to revise the literature about the applied econometric models to the analysis of the demand and utilisation of health care. Due to the difficulty to measure directly the demand of these services, the empirical investigations resort to data of the use of medical...

In 2008, the company Airbnb started its activity becoming the most representative tourism accommodation company from the sharing economy. Nowadays, it has more than 6.500.000 registered listings around the world. Previous literature examines hedonic models where Airbnb's prices are explained in...

The valuation of options and to a large extent the financial derivatives market require an optimal estimation of the volatility, since this is precisely the variable that is negotiated. We present then a statistical methodology for the estimation of the volatility parameter for an asset using...

The Chinese economy has become one of the most important consumers of a broad range of commodities. This work aims at measuring the impact of China’s expansion on commodity prices and illustrate its effect on Latin American economies. It is found a positi

El sistema financiero colombiano ha sufrido cambios importantes en las últimas décadas. Un período de expansión seguido de una profunda crisis económica repercutieron de manera importante en la estructura y concentración de este mercado. Se ha analizado de manera amplia el efecto de la...

Siguiendo el trabajo de Favero y Rovelli (2003), estimamos un sistema de 3 ecuaciones para diferentes muestras de la economía Peruana con el objetivo de analizar la evolución de los parámetros asociados a las preferencias de la autoridad monetaria y a la estructura de la economía. Los...

Since no political economy is possible if the aggregate supply function (AS) is vertical and since political economy is always standing, this paper shows some special kind of production functions which are required in order to get the horizontal section of the AS curve and some special kind of...