Geographical spillovers on the relation between risk-taking and market power in the US banking sector

Submitted by César Salazar on
EfD Authors:

This paper investigates the relation between risk taking and market power in the US banking sector by introducing the effect of geographical spillovers caused by the transmission of risk taking among banks. For this purpose, we use spatial econometrics. Our results support a negative relation between risk taking and market power. The transmission of risk taking causes significant geographical spillovers, which increases the magnitude of the relation under analysis here.

Urban

What has an Influence on Confidence in institutions? Empirical Evidence for Chile

Submitted by César Salazar on
EfD Authors:

This research estimates an ordered probit model with data from the 2014 LAPOP survey to explore the factors that explain confidence in institutions in Chile. Results show an increased lack of confidence from the original peoples toward security institutions, probably due to the Mapuche Conflict. There is also a positive effect of democracy and performance variables that unveils differences in responsibilities between the executive power and the municipalities.

Policy Design

The Phillips curve and the role of monetary policy in Chile

Submitted by César Salazar on
EfD Authors:

In this paper, the empirical analysis finds that the dynamics of inflation and unemployment can be described by a Phillips curve when allowing for a positive co-movement between trend-adjusted productivity and unemployment. This suggests that improvements in productivity have been achieved by laying off the least productive part of the labor force. Furthermore, the natural rate of unemployment is a function of the long-term interest rate, indicating that monetary policy is not completely neutral in the long run.

Policy Design

Collective Share Quotas and the Role of Fishermen’s Organizations in Ex-Vessel Price Determination

Submitted by César Salazar on
EfD Authors:

This article examines the collective bargaining efforts of atomized fishermen with a monopsony-like buying sector. Government allocation of collective share quotas to fishermen’s organizations triggered the voluntary formation of cooperative fishermen’s bargaining associations, while a highly concentrated processing sector started behaving as a countervailing monopsony. This drove ex-vessel price determination into region-specific bilateral monopoly price bargaining.

Fisheries, Policy Design

Ocean Acidification, Consumers' Preferences, and Market Adaptation Strategies in the Mussel Aquaculture Industry

Submitted by César Salazar on

Ocean acidification (OA) is one of the largest emerging and significant environmental threats for the aquaculture industry, jeopardizing its role as an alternative for supporting food security. Moreover, market conditions, characterized by price volatility and low value-added products, could exacerbate the industry's vulnerability to OA.

Climate Change, Fisheries, Policy Design