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  • ddc:330  (14)
  • Audit quality  (1)
  • Heidelberg: Springer  (14)
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  • 1
    Publication Date: 2018-12-07
    Description: This paper explores the long-run effects of inflation on the dynamics of private sector bank credit and economic growth in Mexico over the period 1969 - 2011. With an ARDL-type model, the statistical results suggest that the availability of private sector bank credit in the economy exerts a positive impact on real GDP. In addition, inflation rates have contributed negatively to the increase in private credit, liquid liabilities, and financial development. A key outcome is that one percent increase in inflation is associated with a 0.07 % fall in long-run real rate of output through its effect on bank credit to the private sector. Another crucial finding is that policies of financial liberalization have helped stimulate economic growth. Reinforcing the literature on finance and growth, this study reaffirms that inflation rates are detrimental to long-run financial development and economic growth.
    Keywords: E31 ; G21 ; E44 ; O4 ; C22 ; ddc:330 ; Inflation ; Private sector bank credit ; Financial development ; Growth
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:article
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  • 2
    Publication Date: 2018-12-07
    Description: Background: Opioid addiction is a worldwide problem. Agonist opioid treatment (AOT) is the most widespread and frequent pharmacotherapeutic approach. Methadone has been the most widely used AOT, but buprenorphine, a partial kappa-opiod agonist and a my-opiod antagonist, is fast gaining acceptance. The objective was to assess the budgetary impact in Spain of the introduction of buprenorphine-naloxone (B/N) combination. Methods: A budgetary impact model was developed to estimate healthcare costs of the addition of B/N combination to the therapeutic arsenal for treating opioid dependent patients, during a 3-year period under the National Health System perspective. Inputs for the model were obtained from the specialized scientific literature. Detailed information concerning resource consumption (drug cost, logistics, dispensing, medical, psychiatry and pharmacy supervision, counselling and laboratory test) was obtained from a local expert panel. Costs are expressed in euros (€, 2010). Results: The number of patients estimated to be prescribed B/N combination was 2,334; 2,993 and 3,589 in the first, second and third year respectively. Total budget is €85,766,129; €79,855,471 and €79,137,502 in the first, second and third year for the scenario without B/N combination. With B/N combination the total budget would be €86,589,210; €80,398,259 and €79,708,964 in the first, second and third year of the analyses. Incremental cost/ patient comparing the addition of the B/N combination to the scenario only with methadone is €10.58; €6.98 and €7.34 in the first, second and third year respectively. Conclusion: Addition of B/N combination would imply a maximum incremental yearly cost of €10.58 per patient compared to scenario only with methadone and would provide additional benefits.
    Keywords: ddc:330 ; Buprenorphine-naloxone, Methadone, budgetary impact, opioid dependence, Spain
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 3
    Publication Date: 2017-01-24
    Description: This paper investigates to what extent international migration can be explained by climatic variations. A gravity model of migration augmented with average temperature and precipitation in the country of origin is estimated using a panel data set of 142 sending countries for the period 1995 to 2006. We find two primary results. First, temperature is positively correlated with migration. Second, stronger changes in precipitation are also associated with aligned, but small changes in migration. Both effects are robust to various model modifications. Furthermore, we present initial explorations into the channels relating climate changes with migration via agriculture and internal conflict.
    Keywords: F22 ; Q54 ; ddc:330 ; International migration ; Climate change ; Gravity model ; Panel data
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
    Publication Date: 2017-05-30
    Description: This paper offers estimates of the underreporting of income by selfemployed workers using the Spanish household surveys over the period 2006-2009. We replicate the well-known approach by Pissarides and Weber (J Public Econ 39(1):17-32, 1989) but extending its interpretation for admitting also the concealment of income by salary workers. Our results show that the reported income by self-employed has to be increased by about 25 % to obtain the level of income which would equal the level of underreporting by employees. Our estimates are robust to changes in specification, endogeneity and non-linearities.
    Keywords: D12 ; H26 ; O17 ; ddc:330 ; Underreporting ; Household surveys ; Food consumption ; Tax evasion
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
    Publication Date: 2017-05-30
    Description: In this study, we consider the role of a publicly owned platform and programme quality in the free-to-air broadcasting industry. We compare the equilibrium levels of advertising under private and mixed duopoly competition, and show that the connection between programme quality and advertising incentives is drastically different in each scenario. We also consider the welfare implications of our analysis and generate policy implications regarding the optimal level of government intervention in the broadcasting industry.
    Keywords: L11 ; L33 ; L82 ; M37 ; ddc:330 ; Quality ; Mixed duopoly ; Advertising ; Media
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
    Publication Date: 2017-05-30
    Description: In this paper, we provide empirical evidence for the impact of disciplinary sanctions imposed on Spanish auditing firms and their engagement partners. The disciplinary sanctions resulted from external investigations, which revealed misapplications of auditing standards. In particular, we evaluate (a) the efficacy of the external supervisory board in identifying low-quality auditors and (b) the effectiveness of the disciplinary system in improving the quality of subsequent statutory audits performed by the sanctioned auditors.We employ two earnings management indicators as proxies for audit quality: loss avoidance through extraordinary items and abnormal accruals. And we compare these measures in the financial statements of client companies (auditees) audited by sanctioned and non-sanctioned auditors between 1995 and 2007. Our evidence is mixed. The results show that companies audited by Non-Big 4 sanctioned auditors in the pre-inspection period are less likely to avoid bottom-line losses. Additionally, we conclude that use of this earnings management tool decreases in the post-investigation period for all sanctioned auditors, whether Big 4 or Non-Big 4 firms. Contrary to our expectations, the enhancement performance on this measure of audit quality is observed only for smaller fines. The discretionary accrual approach to earnings management does not offer significant results, however. Therefore, the conclusions are not robust, and further investigation is needed. A feasible explanation for the elusive conclusion may be based on the strong incentives for private firms to avoid bottom-line losses for financing purposes and to manipulate earnings to minimize tax payments.
    Keywords: M42 ; M48 ; ddc:330 ; Auditing ; Quality assurance ; Audit quality ; Oversight ; Disciplinary systems ; Inspections ; Investigations ; Sanctions ; Earnings management ; Discretionary accruals
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 7
    Publication Date: 2019-04-10
    Description: This paper evaluates the impact of the structural and cohesion funds received by Spain in the period 2007-2013. The analysis is performed with a detailed computable general equilibrium (CGE) model calibrated with a SAM for Spain in 2005 elaborated by the authors, which contains highly detailed information on capital goods and tax rates. The aim of this paper is to quantify the short-run effects of the EU funds in the Spanish economy, which can help economic recovery. Additionally, it is evaluated to what extent these short-run effects may be over- or underestimated due to the closure rule used in this kind of models (neoclassical or Keynesian). The closure determines the endogenous variables in the market clearance conditions, and they affect the results of shocks in final demand. The conclusions show that neoclassical closure, used in previous CGE studies done for Spain, underestimates the impact they have on employment and GDP and captures a fictitious shock in private investment. In this case, employment and real GDP do not almost change, while under Keynesian rule they increase in 1.2 and 0.68%, respectively. These results invalidate some of the estimates derived from previous studies and suggest that the best option to quantify the likely positive short-run effects of raising public investment is only captured through Keynesian closure.
    Keywords: ddc:330 ; Structural funds ; Computable general equilibrium model ; Investment goods ; Closure rules
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
    Publication Date: 2019-04-10
    Description: The trade deficit of the USA with its NAFTA partners, Mexico and Canada, increased since 1994 from 21,991 to 119,257 million dollars in 2013 (UNCOMTRADE, 2015. http://comtrade.un.org/db), and most of this increase is explained by the growth in the volume of commerce between Mexico and the USA. Nonetheless, since the mid-1990s Mexico has been experiencing its lowest economic growth rates. By using the World Input Output Database and the Input-Output Analysis, this paper presents an estimate of the intra-NAFTA trade flows in terms of value added and its distribution among both labor and capital; labor by skill level; and content of persons engaged. The findings show that trade between the NAFTA members is quite different concerning value added. In 1995 the USA had a trade deficit of 30,351 million dollars with Canada, of which 6384 million dollars was a surplus in favor of Canada in terms of value added. Similarly, the same year the USA had a deficit of 4276 million dollars with Mexico that became a surplus for the latter of 4561 million dollars in terms of value added. For the following years, until 2011, a similar pattern was observed. The distribution of this value added between capital and labor compensations tends to favor USA and Canadian workers, especially middle-skilled labor, and the sector that tends to have the lowest share is the low-skilled Mexican and Canadian workers. Even more, the average labor compensations per hour grew less for the three types of Mexican workers.
    Keywords: ddc:330 ; Value added in trade ; Income distribution ; NAFTA
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 9
    Publication Date: 2019-04-18
    Description: By means of a single-bounded, referendum format contingent valuation, this paper estimates willingness to pay (WTP) for improved air quality among residents of Mexico City Metropolitan Area (MCMA). Findings from this paper illustrate heterogeneity in WTP associated with environmental and social attitudes, and family concerns. For instance, WTP is higher than average if respondents state a very high priority to air pollution but smaller than average if respondent's household contains more adults than the sample median. This contingent valuation exercise provides elements to carry out cost-benefit analysis of environmental policies both recently implemented and currently under discussion in the MCMA context. For instance, a cost-benefit analysis using estimates from this paper suggests benefits from improved air quality surpass the costs of investing in hybrid buses. Usefulness of this study is underscored by pointing out recent evidence suggesting that (1) air pollution in MCMA has larger health impacts than in similar cities located in developed countries, and (2) policies tackling air pollution in MCMA have had no impact on pollution levels.
    Keywords: Q51 ; Q53 ; D61 ; ddc:330 ; Air quality ; Willingness to pay ; Mexico City ; Contingent valuation ; Attitudes
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
    Publication Date: 2013-07-18
    Description: A high court has to decide whether a lawis constitutional, unconstitutional, or interpretable. The voting system is runoff. Runoff voting systems can be interpreted both, as social choice functions or as mechanisms. It is known that, for universal domains of preferences, runoff voting systems have several drawbacks as social choice functions. Although in our setting the preferences are restricted to be singlepeaked over three alternatives, these problems persist. Runoff mechanisms are not well-behaved either: they do not implement any Condorcet consistent social choice function in undominated subgame perfect Nash equilibria. We show, however, that some Condorcet consistent social choice functions can be implemented in dominant strategies via other simple and natural mechanisms.
    Keywords: C72 ; D71 ; D78 ; ddc:330 ; runoff voting system ; Condorcet consistency ; strategy-proofness ; implementation theory ; Wahlsystem ; Condorcet-Paradoxon ; Nash-Gleichgewicht ; Nichtkooperatives Spiel ; Neue politische Ökonomie ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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