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Spanish GDP short-term point and density forecasting using a mixed-frequency dynamic factor model SERIEs (IF 1.737) Pub Date : 2024-04-10 Diego Fresoli
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Learning loss one year after school closures: evidence from the Basque Country SERIEs (IF 1.737) Pub Date : 2024-02-26
Abstract We use census data on external assessments in primary and secondary schools in the Basque Country (Spain) to estimate learning losses due to the COVID-19 pandemic in March 2021, 1 year after school closures, which lasted from March to June 2020. Differences-in-differences with student and school-by-grade fixed effects show an average learning loss of 0.045 standard deviations, an effect that
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Sequential licensing with several competing technologies SERIEs (IF 1.737) Pub Date : 2024-01-11
Abstract We assume a multistage oligopoly wherein a given number of innovators compete by selling their substitutive technologies. Each innovator sequentially and independently chooses how many licenses to sell, and subsequently, all licensees compete à la Cournot in the product market. We show that, in equilibrium, the total number of licensees grows exponentially with the number of innovators. In
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Horizontal licensing in vertically related markets SERIEs (IF 1.737) Pub Date : 2024-01-10 Elpiniki Bakaouka
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Employment effects of the minimum wage: evidence from the Spanish 2019 reform SERIEs (IF 1.737) Pub Date : 2023-11-29 Lucía Gorjón, David Martinez de Lafuente, Gonzalo Romero
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How consumption carbon emission intensity varies across Spanish households SERIEs (IF 1.737) Pub Date : 2023-11-09 Henrique S. Basso, Ourania Dimakou, Myroslav Pidkuyko
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Identification in a binary choice panel data model with a predetermined covariate SERIEs (IF 1.737) Pub Date : 2023-10-13 Stéphane Bonhomme, Kevin Dano, Bryan S. Graham
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The differential impact by gender of the Covid-19 pandemic on the labor outcomes of older adults SERIEs (IF 1.737) Pub Date : 2023-09-15 Domenico Depalo, Santiago Pereda-Fernández
We study the effect of the COVID-19 pandemic during the first semester of 2020 on the labor market outcomes of elderly workers, using data from the Survey of Health, Ageing and Retirement in Europe. We measure the gender gap in the conditional mean of the probability of experiencing a job interruption, of changing the number of hours worked, and of working from home. We control for a rich set of observable
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Skill heterogeneity and market labour income inequality SERIEs (IF 1.737) Pub Date : 2023-08-21 Luis Medrano-Adán, Vicente Salas-Fumás, Javier Sanchez-Asin
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Identification in dynamic binary choice models SERIEs (IF 1.737) Pub Date : 2023-08-18 Gary Chamberlain
This paper studies identification in a binary choice panel data model with choice probabilities depending on a lagged outcome, additional observed regressors and an unobserved unit-specific effect. It is shown that with two consecutive periods of data identification is not possible (in a neighborhood of zero), even in the logistic case.
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Which Crisis Support Fiscal Measures Worked During the Covid-19 Shock in Europe? SERIEs (IF 1.737) Pub Date : 2023-08-05 Evi Pappa, Andrey Ramos, Eugenia Vella
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New results on asymptotic properties of likelihood estimators with persistent data for small and large T SERIEs (IF 1.737) Pub Date : 2023-08-03 Artūras Juodis, Vasilis Sarafidis
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Modified-likelihood estimation of fixed-effect models for dyadic data SERIEs (IF 1.737) Pub Date : 2023-07-14 Koen Jochmans
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PML versus minimum $${\chi }^{2}$$ : the comeback SERIEs (IF 1.737) Pub Date : 2023-06-24 Dante Amengual, Gabriele Fiorentini, Enrique Sentana
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Should I stay or should I go? The effect of London’s terrorist attack on the educational choices of Muslims SERIEs (IF 1.737) Pub Date : 2023-06-09 Diego Astorga-Rojas
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Approximate functional differencing SERIEs (IF 1.737) Pub Date : 2023-06-09 Geert Dhaene, Martin Weidner
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Attitudes towards single parents’ children in private and state-dependent private schools: experimental evidence SERIEs (IF 1.737) Pub Date : 2023-05-06 Luis Diaz-Serrano, Sabine Flamand
Single parenthood is on the rise worldwide. While acceptance of single-parent households is increasing, some authors point out that single-parent families still suffer from negative societal attitudes compared to heterosexual two-parent families, while also being among the most vulnerable groups of society. Motivated by these findings, we study whether private and state-dependent private schools in
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Properties of least squares estimator in estimation of average treatment effects SERIEs (IF 1.737) Pub Date : 2023-04-29 Jinyong Hahn
Treatment effects are often estimated by the least squares estimator controlling for some covariates. This paper investigates its properties. When the propensity score is constant, it is a consistent estimator of the average treatment effects if it is viewed as a semiparametric partially linear regression estimator, but it is not necessarily more efficient than the simple difference-of-means estimator
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The price effects of reducing payment card interchange fees SERIEs (IF 1.737) Pub Date : 2023-04-27 Bita Shabgard, Javier Asensio
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Revisiting the public–private wage gap in Spain: new evidence and interpretation SERIEs (IF 1.737) Pub Date : 2023-04-25 Alba Couceiro de León, Juan J. Dolado
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Housing prices in Spain: convergence or decoupling? SERIEs (IF 1.737) Pub Date : 2023-04-05 Corinna Ghirelli, Danilo Leiva-León, Alberto Urtasun
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Schumpeter meets Goldilocks: the scarring effects of firm destruction SERIEs (IF 1.737) Pub Date : 2023-03-08 Beatriz González, Enrique Moral-Benito, Isabel Soler
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Education and internal migration: evidence from a child labor reform in Spain SERIEs (IF 1.737) Pub Date : 2023-02-13 Jorge González Chapela, Sergi Jiménez-Martín, Judit Vall Castello
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The aggregate effects of government income transfers shocks: EU evidence SERIEs (IF 1.737) Pub Date : 2023-01-07 Susana Párraga Rodríguez, Banco de España
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Born this way: the effect of an unexpected child benefit at birth on longer-term educational outcomes SERIEs (IF 1.737) Pub Date : 2022-12-02 Sergi Sánchez-Coll
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Macroeconomic and distributive effects of increasing taxes in Spain SERIEs (IF 1.737) Pub Date : 2022-11-09 Luisa Fuster
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Minimum age requirements and the role of the school choice set SERIEs (IF 1.737) Pub Date : 2022-08-30 Julio Cáceres-Delpiano, Eugenio Giolito
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A connections model with decreasing returns link-formation technology SERIEs (IF 1.737) Pub Date : 2022-06-23 Norma Olaizola, Federico Valenciano
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New empirical insights into conflicting claims problems SERIEs (IF 1.737) Pub Date : 2022-06-09 José-Manuel Giménez-Gómez, M. Carmen Marco-Gil, Juan-Francisco Sánchez-García
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Spillover dynamics effects between risk-neutral equity and Treasury volatilities SERIEs (IF 1.737) Pub Date : 2022-06-06 Ana González-Urteaga, Belén Nieto, Gonzalo Rubio
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Introduction to the special issue in honor of Juan Jose Dolado. SERIEs (IF 1.737) Pub Date : 2022-05-10 Laura Mayoral,Evi Pappa
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Introducing an Austrian backpack in Spain SERIEs (IF 1.737) Pub Date : 2022-04-18 João Brogueira de Sousa, Julián Díaz-Saavedra, Ramon Marimon
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Internship contracts in Spain: a stepping stone or a hurdle towards job stability? SERIEs (IF 1.737) Pub Date : 2022-03-29 Sara De la Rica, Lucía Gorjón
Internship contracts (ICs) were designed as a stepping stone for educated young workers to develop their professional skills upon graduation. Such contracts incentivise employment creation, as firms benefit from lower wages and tax reductions, but at the same time, firms are expected to develop training programmes to improve the professional skills of youth. This paper assesses whether such subsidies
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On the identification of the effect of education on health: a comment on Fonseca et al. (2020) SERIEs (IF 1.737) Pub Date : 2022-02-17 Pedro Albarrán, Marisa Hidalgo-Hidalgo, Iñigo Iturbe-Ormaetxe
In this note we revisit the paper by Fonseca et al. (Series 11: 83-103, 2020) who find that education has a positive effect on health. They use several compulsory schooling reforms as instruments for education. Our objective is to replicate this causal finding, so we start by thoroughly discussing their identification strategy. In particular, we emphasize the importance of carefully defining birth
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The impact of different data sources on the level and structure of income inequality SERIEs (IF 1.737) Pub Date : 2021-12-30 Luis Ayala, Ana Pérez, Mercedes Prieto-Alaiz
This paper aims to analyze the effect on measured inequality and its structure of using administrative data instead of survey data. Different analyses are carried out based on the Spanish Survey on Income and Living Conditions (ECV) that continued to ask households for their income despite assigning their income data as provided by the Tax Agency and the Social Security Administration. Our main finding
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Moment tests of independent components SERIEs (IF 1.737) Pub Date : 2021-12-11 Dante Amengual, Gabriele Fiorentini, Enrique Sentana
We propose simple specification tests for independent component analysis and structural vector autoregressions with non-Gaussian shocks that check the normality of a single shock and the potential cross-sectional dependence among several of them. Our tests compare the integer (product) moments of the shocks in the sample with their population counterparts. Importantly, we explicitly consider the sampling
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Higher education decisions and macroeconomic conditions at age eighteen SERIEs (IF 1.737) Pub Date : 2021-12-07 Jennifer Graves, Zoë Kuehn
Using individual data from PIAAC and data on youth unemployment for 18 countries, we test how macroeconomic conditions experienced at age eighteen affect the following decisions in post-secondary and tertiary education: (i) enrollment (ii) dropping-out, (iii) type of degree completed, (iv) area of specialization, and (v) time-to-degree. We also analyze how the effects vary by gender and parental background
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Primary elections and electoral outcomes: evidence from the Spanish Socialist Party SERIEs (IF 1.737) Pub Date : 2021-12-02 Ciacci, Riccardo, Garcia-Hernandez, Ana, García-Hombrados, Jorge, Gismera, Laura, Núñez-Partido, Antonio
Using a regression discontinuity design and primary elections to select Spanish Socialist Party (PSOE) mayoral candidates as a case study, this paper investigates the causal link between primary elections and electoral outcomes. The results suggest that selecting the PSOE’s mayoral candidate through primary elections has no effect on the percentage of votes and total votes received by the PSOE’s candidate
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Temping fates in Spain: hours and employment in a dual labor market during the Great Recession and COVID-19 SERIEs (IF 1.737) Pub Date : 2021-12-02 Cristina Lafuente, Raül Santaeulàlia-Llopis, Ludo Visschers
We investigate the behavior of aggregate hours supplied by workers in permanent (open-ended) contracts and temporary contracts, distinguishing changes in employment (extensive margin) and hours per worker (intensive margin). We focus on the differences between the Great Recession and the start of the COVID-19 Recession. In the Great Recession, the loss in aggregate hours is largely accounted for by
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Lost in recessions: youth employment and earnings in Spain SERIEs (IF 1.737) Pub Date : 2021-11-26 Bentolila, Samuel, Felgueroso, Florentino, Jansen, Marcel, Jimeno, Juan F.
Young workers in Spain face the unprecedented impact of the Great Recession and the COVID-19 crisis in short sequence. Moreover, they have also experienced a deterioration in their employment and earnings over the last three decades. In this paper, we document this evolution and adopt a longitudinal approach to show that employment and earnings losses suffered by young workers during recessions are
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Gender distribution across topics in the top five economics journals: a machine learning approach SERIEs (IF 1.737) Pub Date : 2021-11-25 Conde-Ruiz, J. Ignacio, Ganuza, Juan-José, García, Manu, Puch, Luis A.
We analyze text data in all the articles published in the top five (T5) economics journals between 2002 and 2019 in order to find gender differences in their research approach. We implement an unsupervised machine learning algorithm: the structural topic model (STM), so as to incorporate gender document-level meta-data into a probabilistic text model. This algorithm characterizes jointly the set of
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A tale of three cities: climate heterogeneity SERIEs (IF 1.737) Pub Date : 2021-11-23 Gadea Rivas, María Dolores, Gonzalo, Jesús
Professor Dolado has developed much of his professional career in three cities: Zaragoza, Oxford and Madrid. This fact, together with the recent appearance of literature relating climate with human behavior, has inspired us to analyze a set of relevant climate change issues linked to these areas, particularly any possible heterogeneity. The novel methodology proposed in (Gadea Rivas and Gonzalo in
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Dynamic factor models: Does the specification matter? SERIEs (IF 1.737) Pub Date : 2021-11-23 Miranda, Karen, Poncela, Pilar, Ruiz, Esther
Dynamic factor models (DFMs), which assume the existence of a small number of unobserved underlying factors common to a large number of variables, are very popular among empirical macroeconomists. Factors can be extracted using either nonparametric principal components or parametric Kalman filter and smoothing procedures, with the former being computationally simpler and robust against misspecification
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So different yet so alike: micro and macro labour market outcomes in Germany and Spain SERIEs (IF 1.737) Pub Date : 2021-11-23 Güell, Maia, Lafuente, Cristina, Sánchez, Manuel, Turon, Hélène
It is well known that German and Spanish labour markets are quite different from a macro point of view. In this paper, we look at these markets through the lenses of individual unstable spells. These include all forms of atypical employment (such as temporary contracts and mini-jobs) as well as unemployment. This combined unstable state captures a fuller picture of the individual experience of volatile
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Seasonal adjustment of the Spanish sales daily data SERIEs (IF 1.737) Pub Date : 2021-11-22 Cuevas, Ángel, Ledo, Ramiro, Quilis, Enrique M.
We present a procedure to perform seasonal adjustment over daily sales data. The model adjusts daily information from the Immediate Supply of Information System for Value Added Tax declaration forms compiled by the Spanish Tax Agency. The procedure performs signal extraction and forecasting at the daily frequency, by means of an unobserved components model. The daily information allows a permanently
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Redistribution of tax resources: a cooperative game theory approach SERIEs (IF 1.737) Pub Date : 2021-11-19 Calvo, Emilio
We consider the problem of how to distribute public expenditure among the different regions of an economic entity after all taxes have been collected. Typical examples are: the regions that make up a country, the states of a federal country, or the countries of a confederation of countries. We model the problem as a cooperative game in coalitional form, called the tax game. This game estimates the
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Inequality and psychological well-being in times of COVID-19: evidence from Spain SERIEs (IF 1.737) Pub Date : 2021-11-09 Martinez-Bravo, Monica, Sanz, Carlos
Using two novel online surveys collected in May and November 2020, we study the consequences of the COVID-19 pandemic on Spanish households. We document a large and negative effect on household income. By May 2020, the average individual lived in a household that had lost 16% of their pre-pandemic monthly income. Furthermore, this drop was highly unequal: while households in the richest quintile lost
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From He-Cession to She-Stimulus? The labor market impact of fiscal policy across gender SERIEs (IF 1.737) Pub Date : 2021-10-21 Bonk, Alica Ida, Simon, Laure
Men, especially those that are young and less educated, typically bear the brunt of recessions because of the stronger cyclicality of their employment and wages relative to women’s. We study the extent to which fiscal policy may offset or worsen these asymmetric effects across gender. Using micro-level data for the U.S. from the Current Population Survey, we find that the effects of fiscal policy shocks
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Two extensions of consumer surplus SERIEs (IF 1.737) Pub Date : 2021-10-07 Corchón, Luis C., Torregrosa, Ramón J.
We study consumer surplus in a single market when (a) there is a lower bound in the consumption of the outside good and (b) the weights in the social welfare function given to consumers and firms are different. We assume quasilinear utility. When the lower bound constraint on the consumption of the outside good is binding, income effects arise in demand. In some cases, Cournot equilibrium output is
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Work and children in Spain: challenges and opportunities for equality between men and women SERIEs (IF 1.737) Pub Date : 2021-10-04 Hupkau, Claudia, Ruiz-Valenzuela, Jenifer
Over the past decades, Spain has seen a striking convergence between women’s and men’s participation in the labour market. However, this convergence has stalled since the early 2010s. We show that women still fare worse in several important labour market dimensions. Gender inequalities are further aggravated among people with children. Women with children under 16 are much more likely to be unemployed
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Decoupling synthetic control methods to ensure stability, accuracy and meaningfulness SERIEs (IF 1.737) Pub Date : 2021-08-16 Albalate, Daniel, Bel, Germà, Mazaira-Font, Ferran A.
The synthetic control method (SCM) is widely used to evaluate causal effects under quasi-experimental designs. However, SCM suffers from weaknesses that compromise its accuracy, stability and meaningfulness, due to the nested optimization problem of covariate relevance and counterfactual weights. We propose a decoupling of both problems. We evaluate the economic effect of government formation deadlock
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Automation and sectoral reallocation SERIEs (IF 1.737) Pub Date : 2021-07-30 Hutschenreiter, Dennis C., Santini, Tommaso, Vella, Eugenia
Empirical evidence in Dauth et al. (J Eur Econ Assoc, 2021) suggests that industrial robot adoption in Germany has led to a sectoral reallocation of employment from manufacturing to services, leaving total employment unaffected. We rationalize this evidence through the lens of a general equilibrium model with two sectors, matching frictions and endogenous participation. Automation induces firms to
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The child penalty: evidence from Spain SERIEs (IF 1.737) Pub Date : 2021-07-27 Alicia de Quinto, Laura Hospido, Carlos Sanz
Using data from social security records and an event study approach, we estimate the child penalty in Spain, looking at disparities for women and men across different labor outcomes following the birth of the first child. Our findings show that, the year after the first child is born, mothers’ annual earnings drop by 11% while men’s remain unchanged. The gender gap is even larger 10 years after birth
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Economic policy uncertainty and investment in Spain SERIEs (IF 1.737) Pub Date : 2021-06-15 Daniel Dejuan-Bitria, Corinna Ghirelli
The aim of this paper is to investigate the effect of economic policy uncertainty on firms’ investment decisions. We focus on Spain for the period 1998–2014. To measure policy-related uncertainty, we borrow the economic policy uncertainty (EPU) indicator available for this country. We find strong evidence that uncertainty reduces corporate investment. This relationship appears to be nonlinear, being
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Incentives, ability and disutility of effort SERIEs (IF 1.737) Pub Date : 2021-06-12 Silvia Martinez-Gorricho, Miguel Sanchez Villalba
We generalize the disutility of effort function in the linear-Constant Absolute Risk Aversion (CARA) pure moral hazard model. We assume that agents are heterogeneous in ability. Each agent’s ability is observable and treated as a parameter that indexes the disutility of effort associated with the task performed. In opposition to the literature (the “traditional” scenario), we find a new, “novel” scenario
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Price competition and nominal illusion: experimental evidence and a behavioural model SERIEs (IF 1.737) Pub Date : 2021-06-08 Antonio J. Morales, Enrique Fatas
The standard approach to nominal illusion in Economics sees it as a transitory phenomenon, as economic agents eventually see through the nominal veil, making the right choices. Recent empirical studies suggest that money illusion may persist, distorting real prices in a variety of economic environments, including the housing market and the stock market. In this paper, we explore the emergence and persistence
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The distribution of wealth in Spain and the USA: the role of socioeconomic factors SERIEs (IF 1.737) Pub Date : 2021-06-02 Pedro Salas-Rojo, Juan Gabriel Rodríguez
The literature has typically found that the distribution of socioeconomic factors like education, labor status and income does not account for the remarkable wealth inequality disparities between countries. As a result, their different institutions and other latent factors receive all the credit. Here, we propose to focus on one type of wealth inequality, the inequality of opportunities (IOp) in wealth:
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The economics of the energy transition. SERIEs (IF 1.737) Pub Date : 2021-06-02 Natalia Fabra,Xavier Labandeira
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CO2 emissions and energy technologies in Western Europe SERIEs (IF 1.737) Pub Date : 2021-05-25 J. Barrera-Santana, Gustavo A. Marrero, Luis A. Puch, Antonia Díaz
In this paper, we investigate the path to the green transition in Europe. In so doing, we implement an empirical model of dynamic panel data on a sample of sixteen Western European countries over the period 1980 to 2019. The model is consistent with various features of neoclassical growth theory incorporating energy use. Our focus is on the short-run determinants of carbon emissions within that set