This paper discusses the determinants of two alternative measures of innovative success/output by looking at firm’s innovation strategies. These relationships are also discussed by distinguishing between firms belonging to manufacturing and services sectors.Our econometric analysis is based on an extensive sample of 3,919 firms taken from the Spanish Technological Innovation Panel (PITEC) for the period 2008–2012. Alongside the empirical analysis we applied a two-step procedure. We first identified a diverse range of innovation strategies by applying a principal component analysis (absence, mixed and oriented). Then, after controlling for positive skewness of the dependent variables, we used a generalized linear model (GLM) to examine the impact of these strategies. Our empirical results have some interesting aspects. Firstly, firms that do not design innovation strategies have a lower probability of being a successful innovative firm. Secondly, firms that design a strategy, but one that is not oriented on any specific direction, are prone to achieving lower success rates than firms with an oriented strategy. Finally, the results also show that there is a good fit between the oriented strategy pursued by a firm and its innovation success.
Jové-Llopis, E. (GRIT, XREAP); Segarra, A. (GRIT, XREAP)
Theoretical and empirical approaches have stressed the existence of financial constraints in firms’ innovative activities. Although a large number of innovation projects are abandoned before their completion, the empirical evidence has focused on the determinants of innovation while failed projects have received little attention. This paper analyses the role of financial obstacles on the likelihood of abandoning an innovation project by using panel data of potential innovative Spanish firms for the period 2005–2013. Our analysis differentiates between internal and external barriers on the probability of abandoning a project and we examine whether the effects are different depending on the stage of the innovation process. Controlling for potential endogeneity, we use a bivariate probit model to take into account the simultaneity of financial constraints and the decision to abandon an innovation project. Our results show that financial constraints most affect the probability of abandoning an innovation project during the concept stage.
García-Quevedo, J. (IEB, XREAP); Segarra, A. (GRIT, XREAP); Teruel, M. (GRIT, XREAP)
En este trabajo se estudia el efecto de la dependencia entre dos subcarteras en el requerimiento de capital obligatorio (SCR) por primas y reservas en una cartera de seguros no vida. Para ello, la dependencia se establece entre el número de siniestros de cada subcartera, que se modeliza mediante un choque común. A continuación, se plantean diversas opciones para el cálculo de la distribución del coste total en la cartera agregada, obteniéndose fórmulas explícitas en algunos casos. Finalmente, se incluye una aplicación práctica a partir de datos de una cartera real de seguros de automóviles.
Castañer, A. (CREB, XREAP); Claramunt, M M. (CREB, XREAP); Tadeo, A.; Varea, J. (CREB, XREAP)
Evidence on trends in prevalence of disease and disability can clarify whether countries are experiencing a compression or expansion of morbidity. An expansion of morbidity as indicated by disease have appeared in Europe and other developed regions. It is likely that better treatment, preventive measures and increases in education levels have contributed to the declines in mortality and increments in life expectancy. This paper examines whether there has been an expansion of morbidity in Catalonia (Spain). It uses trends in mortality and morbidity from major causes of death and links of these with survival to provide estimates of life expectancy with and without diseases and functioning loss. We use a repeated cross-sectional health survey carried out in 1994 and 2011 for measures of morbidity; mortality information comes from the Spanish National Statistics Institute. Our findings show that at age 65 the percentage of life with disease increased from 52% to 70% for men, and from 56% to 72% for women; the expectation of life unable to function increased from 24% to 30% for men and 40% to 47% for women between 1994 and 2011. These changes were attributable to increases in the prevalences of diseases and moderate functional limitation. Overall, we find an expansion of morbidity along the period. Increasing survival among people with diseases can lead to a higher prevalence of diseases in the older population. Higher prevalence of health problems can lead to greater pressure on the health care system and a growing burden of disease for individuals.
El objetivo del trabajo es analizar el papel de los diferentes componentes del capital humano como determinantes de los ingresos de los inmigrantes recientes en el mercado de trabajo español. A partir de los microdatos de la Encuesta Nacional de Inmigrantes 2007, se examina la rentabilidad del capital humano de este colectivo, distinguiendo el adquirido en origen del acumulado en destino, así como el impacto salarial de la situación documental. La evidencia obtenida muestra que el capital humano adquirido en España tiene una mayor rentabilidad marginal que el acumulado en origen, lo que refleja la limitada transferibilidad de este último. La única excepción se da en el caso de los inmigrantes procedentes de países desarrollados o que han estudiado en España, independientemente de su procedencia, los cuales obtienen una rentabilidad de sus estudios –incluso de aquéllos cursados en origen– comparativamente elevada. Una situación legal en España está asociada, por su parte, con una sustancial prima salarial positiva (15%). Por último, el conjunto de la evidencia confirma la presencia de una fuerte heterogeneidad, tanto en la rentabilidad de las diferentes formas de capital humano como en la magnitud de la prima por trabajar legalmente, en función de la zona de origen de los inmigrantes.
Sanromá, E. (IEB); Ramos, R. (AQR-IREA); Simón, H.
At present, Spain faces one of the key moments in planning the future design of the infrastructure network. As a consequence of the critical role played by haulage in intra-European trade, the most important investments are those that guarantee that road haulage traffic can move freely at the borders. That is why it is necessary to make serious evaluations of the economic and social profitability of these investments. Normally the most significant social benefit of investment projects in transport infrastructure is time saving, which in turn changes traffic intensity. In this article we analyse the changes in the user excess caused by public investment in transport infrastructure planned by the Spanish government and which will be located on the border between Spain and France. In particular, we study the increase in network user surplus for HGV traffic in the Spanish and French border zones in the Pyrenees.
Christian Durán Weitkamp (GRIT), Mònica Martín Bofarull (GRIT), Federico Pablo Martí
Empleando la Encuesta de Estructura Salarial se plantea una propuesta de estimación de externalidades de capital humano intraempresa que permite relajar las restricciones introducidas por las especificaciones que la literatura empírica existente ha usado. En concreto, la metodología propuesta evalúa las externalidades de capital humano aprovechando al máximo la variabilidad en la muestra, al permitir que todos los coeficientes de las ecuaciones estimadas varíen con el nivel de capital humano del establecimiento, relajando la hipótesis implícita de linealidad entre el efecto de externalidad y el nivel educativo de los individuos.
We distinguish and assess three fundamental views of the labor market regarding the movements in unempoyment: (i) the frictionless equilibrium view; (ii) the chain reaction theory, or prolonged adjustment view; and (iii) the hysteresis view. While the frictionless view implies a clear compartmentalization between the short- and long-run, the hysteresis view implies that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the problems faced by these conceptions in explaining the diversity of labor market experiences across the OECD labor markets. We argue that the prolonged adjustment view can overcome these problems since it implies that the short, medium, and long runs are interrelated, merging with one another along an intertemporal continuum.
Marika Karanassou; Hector Sala (GEAP) and Dennis J. Snower