Suchergebnisse

The liberalization of telecommunications and technological change have unbundled a vector of public interventions in this industry. Now different government levels interact. The economics of federalism shed light into this new landscape. The insights from this branch of research are used to analyze the European Union common telecommunications policy (as compared to the history of federal and state regulations in the US) and the role of local and regional powers in the promotion of broadband new generation networks. Decentralized non-specialized policies internalize policy externalities, whereas specialized centralized authority internalizes territorial spillovers. Preliminary empirical evidence shows that decentralization of policies inside member states is not detrimental for broadband investment in the European Union. ; La liberalización de las telecomunicaciones y los cambios tecnológicos han dado lugar a un nuevo vector desagregado de intervenciones públicas en este sector. Dado que en la regulación ahora participan distintos niveles de gobierno, el análisis económico del federalismo puede aportar ideas a este nuevo escenario. Las herramientas de este área de investigación son utilizadas en este trabajo para analizar la política común de telecomunicaciones de la Unión Europea (en comparación con la historia de las regulaciones federal y estatal en los Estados Unidos), así como también el papel de los poderes locales y regionales en la promoción de las redes de nueva generación. Las políticas no especializadas y descentralizadas intenalizan las externalidades que se producen en la interacción de políticas públicas, mientras que las autoridades especializadas y centralizadas internalizan los efectos desbordamiento entre territorios. Alguna evidencia empírica preliminar señala que la descentralización de las políticas dentro de los Estados miembros no perjudica a las inversiones en banda ancha en la UE.

L'atemptat terrorista a Madrid tres dies abans de les eleccions generals de març de 2004 sembla que capgirà els resultat esperats pels sondejos decantant la balança del PP cap al PSOE. Investigadors de la UAB han aprofitat l'oportunitat única que els brinda aquest fet per analitzar l'impacte d'aquelles eleccions generals en les grans empreses espanyoles utilitzant les tècniques d'estudi d'esdeveniments, que mesuren l'impacte dels esdeveniments sorpresa en el mercat de valors, i així posar a prova algunes hipòtesis políticoeconòmiques. La seva conclusió és que l'impacte d'un o altre partit governant a Espanya no provoca grans canvis en les polítiques econòmiques generals, sinó que canvia el valor dels acords entre els polítics i les empreses. ; El atentado terrorista en Madrid tres días antes de las elecciones generales de marzo de 2004 parece que invirtió los resultados esperados por los sondeos decantando la balanza del PP hacia el PSOE. Investigadores de la UAB han aprovechado la oportunidad única que les brinda este hecho para analizar el impacto de aquellas elecciones generales en las grandes empresas españolas utilizando las técnicas del estudio de eventos, que miden el impacto de los eventos sorpresa en el mercado de valores, y así poner a prueba algunas hipótesis político-económicas. Su conclusión es que el impacto de uno u otro partido gobernante en España no provoca grandes cambios en las políticas económicas generales, sino cambia que el valor de los acuerdos entre los políticos y las empresas. ; The terrorist attack in Madrid three days before the general election of March 2004 seemed to be the cause of the unexpected election results, overturning all predictions and tipping the balance from PP to PSOE. UAB researchers have taken the opportunity this event presents to analyse the impact the 2004 election had on large Spanish firms. To do this, they used event study techniques, which measure the impact of surprise events on the stock market, and tested a series of politico- economic hypotheses. Their conclusion is that the impact produced by either of the ruling parties in Spain does not cause large changes in general economic policies. Instead, what changes is the value of agreements between politicians and firms.

This article starts by surveying the literature on economic federalism and relating it to Network industries. Some new developments (which focus on the role of interjurisdictional externalities and multiple objectives) are then added and used to analyze regulatory arrangements in telecommunications and energy in the EU and the US. Although central or federal policy making is more focused and specialized and makes it difficult for more interest groups to organize, it is not clear that under all conditions central powers will not be associated with underinvestment. When technology makes the introduction of competition in some segments possible, the possibilities for organizing the institutional architecture of regulation expand.

Defence date: 8 December 2000 ; Examining Board: Vicente Salas (Chairman, University of Zaragoza) Ramón Marimón, (Ministry of Science and Technoclogy, Madrid / EUI, Co-supervisor) James Dow, (London Business School, Supervisor) Paul Grout (University of Bristol) ; First made available online 12 February 2019 ; The examining board indicated in the PDF and on the print version of the thesis ( Prof. Roger Farmer, UCLA and EUI ; Prof. Itzhak Gilboa, Tel Aviv University ; Prof. Alan Kirman, GREQAM. Marseille, Supervisor ; Prof. Avner Shaked, University of Bonn) are wrongly indicated ; The academic literature has developed a number of "standard prescriptions" for the privatization and regulation of utilities. The main purpose of this thesis is to qualify some of them, and build on the qualifications to find new insights. Although these prescriptions have not been endorsed universally, they permeate most of the theoretical and empirical work done in the recent past. In general, they constitute a benchmark that has enriched our understanding of the many economic issues related to the role and performance of privatized, regulated firms. These standard prescriptions are broadly based on the British experience and some specific strands of economic theory. By and large, progress has been made in reforming countries using these standard prescriptions. But the British experience can today be complemented with the experience of other countries, and with new developments in several fields of economic theory. The evolution itself of the British privatized industries, interacting with the evolution of the political cycle in the U.K., also helps to give a more balanced and complex view of this field. ; 1. Introduction 2. Regulating utilities with political constraints 3. The structure of corporate ownership in privatized utilities 4. The takeover of Enersis by Endesa : the control of privatized utilities

In the last days of the electoral campaign for the 2004 general election in Spain, on Thursday March 11th 2004, a series of simultaneous terror attacks caused the death of 191 persons in commuting trains in the capital Madrid. Four days later, the opposition party won the election, against all predictions that were made prior to the terror attacks. This change in expectations presents a unique opportunity to take advantage of event study techniques to test some politico-economic hypotheses. The quantitative exercise is carried out employing Seemingly Unrelated Regressions (SUR). Hypothesis testing is improved by means of bootstrapping techniques. Convergence theories prove quite resilient as, jointly, quoted firms were not significantly affected by the election outcome. The impact on politically connected companies and particular economic sectors, however, suggest that a combination of capture and agency problems may play a role in explaining the effects of the change in expectations.

In the last days of the electoral campaign for the 2004 general election in Spain, on Thursday March 11th 2004, a series of simultaneous terror attacks caused the death of 191 persons in commuting trains in the capital Madrid. Four days later, the opposition party won the election, against all predictions that were made prior to the terror attacks. This change in expectations presents a unique opportunity to take advantage of event study techniques to test some politico-economic hypotheses. The quantitative exercise is carried out employing Seemingly Unrelated Regressions (SUR). Hypothesis testing is improved by means of bootstrapping techniques. Convergence theories prove quite resilient as, jointly, quoted firms were not significantly affected by the election outcome. The impact on politically connected companies and particular economic sectors, however, suggest that a combination of capture and agency problems may play a role in explaining the effects of the change in expectations.