This article presents, first, a graphical analysis of the well-known equality of saving and investment for the cases of Spain and the Eurozone between 2000 and 2011. Then, correlation and Granger causality between government deficit and private deficit in both economies is analyzed. Since public...

This paper analyzes the productivity of the Spanish economy in relation to the five major European economies and also the allocation of primary income between capital and labor factors. The evolution of productivity in the Spanish economy is weak compared to the European context. Furthermore, it...

Current regulation of smoking in Spain (Law 28 /2005) defines and reallocates environmental property rights in favour of nonsmokers. From this point of view, it is important to analyze the social desirability of maximizing the utility of a category of individuals knowing that this requires the...

To understand the formation and extent of the speculative tsunami that sweeps the coast of the Spanish economy since the end of 2007, it is necessary to analyze the profitability of property sales in the past decade. This article analyzes economic and financial profitability, and the multiplier...

The deterioration of protected natural areas due to over-visiting is a frequent situation. In this article we modelize the management of access to such places in an adverse selection setting. The regulator offers each visitor a contract based on a limited right of access together with a monetary...

Housing construction has been fueled in recent years by a speculative process that has ended up generating an extraordinary oversupply. The aim of this study is to quantify the gap between supply and demand for housing in the Spanish economy between 1996 and 2007. Different estimates of the...

The following work is to estimate the theoretical demand for housing in Spain given the demographic trends and the preferences of investors between 2001 and 2008. The paper shows how much of the demand does not respond to demographic factors. The stock of unsold new houses is estimated and it is...

No one can ignore the importance of financial innovation in mortgage markets. A relevant issue is the choice of the amortization system. This article shows how the French amortization system has reduced the price of loans in the short term whereas price of loans has become more expensive in the...

The sole ownership solution is an incentive to conserve collective goods but at the same time it can induce a lost of social utility. In the present work the sole ownership solution is analyzed and a synthesis of the problems of inefficiency associated with the exploitation of collective goods...

The economic and social importance of housing markets justifies, more than ever, rigorous analyses that show clearly the actual situation and the future trend of that sector. This paper aims to provide a preliminary estimate of the economic impact of the construction sector on the Spanish...