Design of Bicolored Observers for Interpreted Petri Nets (original) (raw)

On the aggregate effects of immigration in Spain

Series, 2010

Over the period 1995–2006 the Spanish economy experienced a rapid increase in employment and output growth, a surge in investment over GDP, a substantial deterioration in the current account balance and an improvement in the finances of the social security system. This paper presents a dynamic general equilibrium model designed to quantify the role played by immigration in shaping these facts. In the context of the aging of the Spanish population, we also analyze the medium and long run effects of the immigration process accounting for relevant supply and demand effects. This is done by allowing for enough heterogeneity in the demographic characteristics of immigrant and native workers in a way that allow us to perform counterfactual experiments regarding the flow of immigrants and its skill composition.

E-Book Towards A Philosophy of Decentralization Jimmy

LAP Academic Publishing, 2016

It can be acknowledged that moving towards a philosophy of decentralization is not easy in developing countries as virtually decentralization is normally associated with diversity of complications. The process of decentralization is really a complicated one and may not have quick wins to offset the challenges that go with it. Over the years, developing countries have embarked on decentralization reforms thinking that it would resolve some of their development problems. At global level, there has been a strong trend towards a philosophy of decentralization reforms in both developed and developing nations. However, this philosophy of decentralization in the developing countries should be tailored to the local existing social, cultural, political and economic environment. Most analysts have contested that western concept of decentralization is not a blue print for developing countries as countries differ from one another in terms of social, political and economic background. There is always a perception that the western concept of decentralization can succeed in most developing countries. Fundamentally, developing countries should follow homegrown concept towards a philosophy of decentralization if they to realize the benefits of democracy and decentralization. The one size fits all approach towards a philosophy of decentralization for the developing countries is an alien to the local environment. It is also claimed that one size fits all approach to decentralization is a fallacy as it should be country specific and driven on the basis of the local environment. The path towards a philosophy of decentralization by any model needs a strong political will rather than the usual political rhetoric often said by those in the governing seat. There is no single dosage or prescription that fits for all developing countries as what can be considered workable in one country may not be applicable in another country as decentralization is an not end in itself but a process. On one hand, most of opponents of decentralization agenda strongly argue that sequencing of decentralization process is fundamentally correct as decentralization is a complex and multi-dimensional concept. On the other hand, proponents of decentralization claim that the wave of comprehensive decentralization can contribute towards good governance and development at the local level. However, it is also argued that local public accountability between the elected leaders and the citizenry is a key component of the successful decentralization. Moreover, it is important to promote the vertical downwards accountability thus between the local government and the public at large. This should be promoted on the basis of an effective local public accountability system in order to build mutual trust between the local elected representatives and the citizenry in the decentralization process.

The productivity paradox and the new economy: The Spanish case

Journal of Macroeconomics, 2008

This paper studies the impact of the information and communication technologies (ICT) on economic growth in Spain using a dynamic general equilibrium approach. Contrary to previous works, we use a production function with six different capital inputs, three of them corresponding to ICT assets. Calibration of the model suggests that the contribution of ICT to Spanish productivity growth is very relevant, whereas the contribution of non-ICT capital has been even negative. Additionally, over the sample period 1995-2002, we find a negative TFP and productivity growth. These results together aim at the hypothesis that the Spanish economy could be placed within the productivity paradox. JEL classification: E22, O30, O40.

Trade Policy Making in a Model of Legislative Bargaining

2011

for their hospitality during the authors' visits. We acknowledge the research support provided by the University of Auckland Faculty Research Development Fund (project ref. # 3625352/9554) and by the Czech Science Foundation (project ref. # GAµCR P402/12/0666). All errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

Bank Leverage Cycles and the External Finance Premium

Journal of Money, Credit and Banking

Durch die Finanzkrise der Jahre 2007 bis 2009 wurde die Aufmerksamkeit erneut auf die Wechselwirkung zwischen Bankbilanzen, externen Finanzierungsprämien und wirtschaftlicher Entwicklung gelenkt. Mehrere empirische Studien belegen, dass Schocks, die sich negativ auf das Eigenkapital der Banken auswirken, die Kreditvergabe und die Wirtschaftstätigkeit bremsen. Adrian et al. (2012) dokumentieren darüber hinaus die Prozyklizität des Verschuldungsgrads der Banken. Unterdessen scheint das Reinvermögen der nichtfinanziellen Unternehmen einen positiven Einfluss auf die Investitionsausgaben zu haben.