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I lE I NSTITUTO VALENCIANO DE INVESTIGACIONES ECONOMICAS
Cl Guardia Civil, 22, Esc. 2, 10
Telf. (96) 393 08 16 Fax (96) 393 08 56 46020 V ALE N C I A (ESPANA)
T
INDEX
GENERAL INFORMATION ............................... 5
1. The main institute's main objectives. .......................... 7
2. Organization of the institute. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2.1. Board of lVlE. ...................................... 9
2.2. Advisory Board. ..................................... 9
2.3. Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.4. Management. ....................................... 10
2.5. Technical staff. ...................................... 10
2.6. Services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
3. Researcllers. ............................................... 11
3.1. Research professors. ................................. 11
3.2: Associate researchers. ................................ 17
3.3. Collaborators in Research Projects. . . . . . . . . . . . . . . . . . . . . . 17
3.4. Collaborators with training contracts. ................... 19
4. Institutional cooperation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
4.1. Patronage. .......................................... 20
4.2. Collaboration agreements. ............................ 20
4.3. European Research Networks. ......................... 21
1994 ACTIVITIES ....................................... 23
5. Publications. .............................................. 25
5.1. lVlE Working- Papers. ............................... 25
· AD Series: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
· EC Series: ................................................. 27
· Referees: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
5.2: Associate researchers' publications. . . . . . . . . . . . . . . . . . . . . . 31
6. Research projects. .......................................... 36
6.1. Contracts by IVIE with other institutions. . . . . . . . . . . . . . . . . 36 · Public Capital Endowments and Regional Development in Catalonia 36
· Basic Strategic Lines for CAM's Social and Cultural Foundation 37
· Financial Situation of Valencian Co-operative Firms Towards the European Integration ....................................... 37
· Elaboration of a Social Accounting Matrix for Spain ............. 38
· Public Expenditure in Education in the Valencian region: Territorial Distribution and Recent Evolution of Employment and Qualifications Demand.................................................. 38
· Human Capital and Em.ployn1ent ............................. 39
· The Problems of Local Corporations: Competences, Performance of Services and Finance ..................................... 40
· Economic Impact of the Airport of Valencia on its Surroundings .. 41
· Education Accounts in Spain ................................ 41
· The Stock of Capital in the Spanish Econon1Y .................. 42
· Ex-post Evaluation Programme .............................. 43
· Application of the Strategic Plan for the Social and Cultural Activities of Bancaja ................................................ 43
6.2. Research contracts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
· Social Welfare: ............................................. 43
· Industrial Economics: ....................................... 44
· Financial Economics: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
6.3. National Research Programme. ........................ 45
7. Scientific meetings. ......................................... 47
7.1. Meetings organized by the IVIE. ....................... 47
· Workshops: ............................................... 47
7.? P~r.ticipati~:m of the IVIE researchers at other sCIentIfIc meetings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
· Congress: ................................................. 52
· Seminars. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
· Co-urses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
8. Edllcational activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
8.1. University of Valencia. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
8.2. lnstituto Valenciano de Administraci6n Publica. .......... 61
GENERAL INFORMATION
1. THE MAIN INSTITUTE'S MAIN OBJECTIVES.
The objectives of the Instituto Valenciano de Investigacio
nes Econ6micas (IVIE) - Valencian Institute of Economic
Research - are to promote and develop Economic Research in
Valencia and to project it at a national and international level.
IVIE was created by the Generalitat Valenciana -Valen
cian Regional Government- as a public institution dependent
on the Conselleria d'Economia i Hisenda -Regional Board of
Economy and Treasury-. It aims for the consolidation of teams
of specialists able to ensure continued production along fixed
economic research lines of general interest.
Another objective of the IVIE is to contribute to the esta
blishment of a broad relationship between research work and
the decisions of economic agents. Many of these economic
decisions require a careful analysis of the existing alternatives,
backed up by the results reached through research, the quality
of statistical information and the experience of specialists as
evaluators of the alternatives. For this reason, IVIE also offers
technical consultancy on economic matters to any public and
private institutions and companies who should request it.
To accomplish its purpose, the IVIE includes a General
Services Area and three Research Departments: SOCIAL WEL
FARE, FINANCIAL ECONOMICS and INDUSTRIAL ECONO
MICS. The development of these areas rests mainly with the
work of the institute's associate researchers, all of whom have
broad academic experience.
Furthermore, in order to carry out the projects IVIE esta
blishes all kinds of relations with the researchers from Valencian
Universities, and has signed collaboration agreements with
them, supporting the Economic Research Teams of the Univer
sity Departments in the achievement of their activities and pro
moting the social use of the research effort.
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IVIE started to undertake its work in November 1990, and
since then has received patronage stemming from the collabo
ration agreements signed with the Conselleria d'Economia i
Hisenda, the lnstituto de la Mediana y Pequena Empresa Valen
ciana (IMPIVA) - Institute of Small and Mediunt-sized Compa
nies - and the Caja de Ahorros del Mediterraneo (CAM) - one of
the main Regional Savings Bank -.
ORGANIZATION OF THE INSTITUTE.
2.1. Board ofIVIE.
Chairman:
Aurelio Martlnez Estevez
(Head of the Conselleria d'Economia i Hisenda)
Vice president:
Ernest Reig Martlnez
(General Director of Econon1Y of the Conselleria d'Economia i
Hisenda)
Secretary:
Jose Salvador Martlnez Ciscar
(General Director of Public Works Administration of the Regio
nal Government)
Members of the Board:
Alfonso Alonso Barc6n
(Regional Director of Instituto Social de la Marina in Valencia)
Juan Antonio Gisbert Garda
(General Director of CAM)
Francisco de Paula Pons Alfonso
(General Director of IMPNA)
Emilio Tortosa Cosme
(General Director of BANCAJA)
2.2. Advisory Board.
Francesco Giavazzi
(Innocenzo Gasparini Institute for Econon#c Research, Milan)
Jean-Jacques Laffont
(Institut d'Econon1ie Industrielle, Toulo'use)
Emilio Ontiveros
(Universidad Autonon'la de Madrid)
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Vicente Salas
(Universitat Autonoma de Barcelona)
Joaquim Silvestre
(University of California-Davis)
Jose Vifials
(Banco de Espana)
2 .. 3. Directors.
Director: Francisco Perez
Research Director: Antonio Villar
Projects Director: Matilde Mas
2.4. Management.
Daniel Romero Manager
2.5. Technical staff.
Rodrigo Aragon Computer engineering
Vicent Cucarella Economist
Manuel Illueca Economist
Juan Carlos Robledo Economist
2.6. Services.
10
Marina Bramwell
Rosa Buitrago
Daniel Escandell
Leonor Marques
Mercedes Mateo
Ana Me Sanchez
Amparo Sarrio
Julia Teschendorff
Clerk
Secretary
Publication
Administration
Secretary
Assistant
Administration
Publication
RESEARCHERS.
3.1. Research professors.
Luis Corch6n (University of Alicante)
Graduate and Doctor from the Universidad Complutense
de Madrid, Master and PhD. at the London School of Econo
mics. He is presently Professor at the University of Alicante. In
the research field, his areas of interest cover Game Theory,
General Equilibrium, Industrial Organization and Public Econo
mics. He has had articles published in journals such as the
Quarterly Journal of Economics, Scandinavian Journal of Eco
nontics, International Journal of Industrial Organization, Eco
nomics Letters, European Journal of Political Economy, Metroe
conontica, Mathe1natical Social Sciences, Economic Design,
Economic Theory, as well as in the main Spanish journals of this
speciality. He has been a visiting scholar at Rochester, Califor
nia-Davis and Harvard Universities, as well as at Bellcore, the
Indian Statistical Institute, Institute for Advanced Studies of
Viena and at the Centre for Interactive Decision Making
(Hebrew University of Jerusalem). He is a member of the Edi
ting Board of the Revista Espanola de Econon1,{a, is the resear
cher in charge of the project of the National R+D project entitled
"Strategic Behaviour and Social Welfare" (PB91-0756) and is the
Spanish person in charge of an Integrated Spanish-German
Action (University of Bielefeld) and of an INTAS scholarship.
Carmen Herrero (University of Alicante)
Graduate in Mathematics from the Universidad Complu
tense de Madrid and Doctor of Valencia University, she is
currently Professor at the University of Alicante. Her research
fields are: Mathematical Economics, General Equilibrium, Wel
fare Economics and Decision Theory. She is the author of "Cal
culo en Variedades Reales" and "Matrices Sentipositivas y Mode
los Lineales" (Universidad de Alicante publications, in collabo
ration with others, 1982 and 1984 respectively) and of about
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thirty articles published in journals such as Metroeconomica,
Economics Letters, Linear Algebra and its applications, Journal
of Economics, The Manchester School, Mathematical Program
m,ing, Mathem,atical Social Sciences, and in Spanish specialist
reviews. She has been a senior research member of St.
Anthony's College (University of Oxford) and a member of the
Editing Board of the Revista Espaiiola de Economia. She is in
charge of the National R+D project "Behavior Models Under
General Hypothesis" (PB92-0342, type C granted for 5 years)
and is the Spanish person in charge of a Community Research
Grant (SPES Progral11me) in cooperation with Bielefeld Univer
sity, as well as team member of an Integrated Spanish-German
Action with Bielefeld University and an Integrated Spanish
Austrian Action with Viena University.
Matilde Mas (University of Valencia)
Graduate and Doctor in Economics from the Universidad
de Valencia. Lecturer of Economic Analysis at the said Univer
sity, her specialized fields being Housing Market, Public Expen
diture and Analysis of Technological Change. She is co-author
of Economia Espa1~ola 1960-1980: Grecimiento y Gambio
Estructural (Blume 1982) and has published different works in
specialist journals such as Investigaciones Economicas, Revista
de Economia Publica, Papeles de Econon'lia Espaiiola, Informa
cion Gon1,ercial Espaiiola, Revista de Economia Aplicada y
Moneda y GnJdito amongst others. Associate researcher of the
National Research Plan project "Production and Competitivity:
Theory and Analysis of the Spanish Case: (PB90-0S79).
Ignacio Mauleon (University of Alicante)
Graduate in Sociology from the Universidad de Deusto
and in Economics from the Universidad Publica del Pals Vasco,
Doctor in Economics of UNED, Master in Econometrics and
Mathematical Economics, and PhD at the London School of
Economics. Currently Professor at the University of Alicante. His
research interests are Monetary and Financial Economics and
Econometry. He has published several books, being the most
relevant Oferta y Demanda de Dinero: Teoria y EVidenciaEmpi
rica (Alianza, 1989) and Inversiones y Riesgos Financieros
(Espasa Calpe, 1991). His articles have been published in jour
nals such as Econom,ics Letters, Revista Espanola de Economia,
Investigaciones Econon~icas. He has been visiting scholar at
Yale University (1984). Member of the Advisory Board of the
review Investigaciones Economicas, and presently member of
the Editing Board of Revista de Economia Aplicada. He has
taken part in several research projects sponsored by Banco de
Espafia, Fundaci6n Empresa Publica, Fundaci6n FIES, SPES
Program.
Jordi Palafox (University of Valencia)
Graduate and Doctor in Economics from Universidad de
Valencia at which he is Professor of Economic History and Insti
tutions. Specialist in Twentieth Century Spanish Economic His
tory, he has published the results of his research in different
specialist journals: Papeles de Econon~ia Espafiola, Journal of
European Econon~ic History, Hacienda Publica Espanola,
Investigaciones Econon~icas, In!orn~acion Comercial Espanola.
Author of the book Atraso Econon~ico y Den~ocracia. La
Segunda Republica y la Economia Espanola (Critic a , 1991) and
co-author of La Financiacion de las Universidades Valencianas
(Alfons el Magnanim, 1993). He is responsible for the National
Research Plan project "Spanish Industrialization in its historical
perspective (1891-1959)" (PB90-423). Has been visiting scholar
at the U.C. Berkeley (1986-1987) and also during 1992-93. He is
member of the Editing Board of the Revista de Historia Econo
m,ica.
Francisco Perez (University of ValenCia)
Graduate and Doctor in Economics from Universidad de
Valencia. Professor of Economic Analysis at the University of
Valencia. His specialized fields are Financial Economics -Ban
king and Public Finances- and the Analysis of Economic
Growth and Technological Change. Has published three books
in collaboration with others - Teoria Econ6n~ica Heterodoxa
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(Oikos Tau, 1977); Economfa Espanola 1960-1980: creci
miento y cam,bio estructural (Blume 1982); Dinero y Sistema
Bancario: teorfa y analisis del caso espanol (Espasa-Calpe
1991); La Financiacion de las Universidades Valencianas
(Alfons el Magnanim, 1993) and over twenty articles in specia
list journals, Investigaciones Econon~icas, Giornale degli Econo
misti, Moneda y Credito, BNL Quarterly Reviezu, Papeles de Eco
nomla Espanola, Revista de Economia Publica, Revista de Eco
non~ia Espanola, Hacienda Publica Espaiiola and Revista de
Economia Aplicada amongst others. Has stayed as a visiting
researcher at the Universities of Milan (Cattolica, 1978-79) and
Rome (La Sapienza, 1986). Main researcher of the National
Research Plan project "Production and Competitivity: Theory
and Analysis of the Spanish Case" (PB90-0579). Member of the
AdviSOry Board of Moneda y Credito and of the Editing Board of
the review Palau 14, Revista Valenciana de Hacienda Publica.
Javier Quesada (University of ValenCia)
Graduate in Economics from Universidad de Valencia and
Doctor in Economics of the University ofCincinnati (OhiO). Lec
turer of Economic Analysis at the Universidad de Valencia. He
undertakes his research in Financial and Monetary Economics.
Has jOintly published two books: Econon~ia Espanola
1960-1980: crecin~iento y cambio estructural (Blume 1982);
Dinero y Sisten1,a Bancario: teorfa y analisis del caso espanol
(Espasa-Calpe 1991) and articles in Revell, J. (ed.) The Chan
ging Face of European Banks and Securities Markets, in Fair,
D.E. and Raymond, R.J. (eds.) The Con~petitiveness of Financial
Institutions and Centers in Europe and in specialist journals,
Investigaciones Econon#cas, Zeitschrift fiir Wirtschafts und
Sozial'wissenschaften, Moneda y Credito, amongst others. Has
stayed as visiting scholar at Harvard University (1985-86). Asso
ciate researcher in the National Research Plan project "Produc
tion and Competitivity: theory and analysis of the Spanish case"
(PB90-0579).
Ernest Reig (University of Valencia)
Graduate and Doctor in Economics from Universidad de
Valencia. Professor of Applied Economics at the said University.
His fields of specialization are Regional Economic Analysis and
Agro-alimentary Economics. Has published six books, some of
which areEconomiaEspafiola 1960-1980: Crecimiento y Cam
bio estructural (Blume 1982) (with others); La politz'ca Agraria
de la Comunidad Econontica Europea. Repercusiones Interna
cionales (Alfons el Magnanim, 1986) and taken part in various
joint works, Espafia.Economia. (Espasa-Calpe 1988) and
Estructura Econon1,ica de la Con1,unidad Valenciana (Espasa
Calpe, 1992) being the most relevant ones. Has also published
over twenty-five articles in different specialized reviews, Inves
tz'gaciones Economicas, Papeles de Economia Espafiola, Infor
n1acion Con1ercial Espaiiola and Investz'gacion Agraria. Was a
research scholar at the London School of Economics in 1983-84,
and Director of the Instituto Valenciano de Econom{a of the Ins
tituto Valenciano de Estudios e Investigacion, from 1986 to
1991.
Ezequiel Uriel (University of ValenCia)
Took his degree and doctorate at the Universidad Com
plutense de Madrid. His specialized fields are Labour Market,
Statistical Information Systems and Forecasting Techniques.
Has published six books, individually and in collaboration with
others, on statistical and econon1etric methods and the labour
market. Author of over fifty articles in specialized journals,
among these Estadistz'ca Espaiiola, Investigaciones Economi
cas, CtlCldernosdelICE, Moneday Cnfdz'to, PapelesdeEconomia
Espafiola, Revista de Econontia Aplicada y Anales de Economia.
Was a visiting fellow at Warwick University during the
1988-1989 course and guest lecturer at the Business Harvard
School in 1979.
Fernando Vega (University of Alicante)
With a degree in Economics from the Universidad Com
plutense de Madrid and a Doctorate in Economics (PhD) from
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the University of Minnesota, he is at present Professor at the
University of Alicante. His present research interest is centred
on the field of Game Theory and its Applications to Evolutio
nary Processes (Growth, Institutions, Technological Change).
His articles have been published in reviews such as Journal of
Econontic Theory, Economic Theory, Econon1,ics Letters, Inter
national Economic Review, Mathematical Social Sciences,
Games and Econon1ic Behaviour, Journal of Theoretical Bio
logy, Journal of Evolutionary Economics, Social Choice and
Welfare and Spanish specialist journals. Has been a visiting
scholar at the University of Harvard, at the Indian Statistical Ins
titute and at the Institute for Advanced Studies (Vienna) and at
the Hebrew University of Jerusalem. He is the researcher in
charge of the National R+D plan project entitled "Dynamic
models: technological evolution and change" (PS90-0156) and
of an Integrated Spanish-Austrian Action in collaboration with
the Institute for Advanced Studies in Vienna.
Antonio Villar (University of Alicante)
Has a degree in Economics from the Universidad de
Valencia, Doctor of the Universidad de Alicante and Doctor of
Philosophy of the University of Oxford. Is at present Professor
at the University of Alicante. His specialized fields cover sub
jects of General Equilibrium and Welfare Economics. He is
author of the books Matrices Sentipositivas y Modelos Lineales (a
publication of the Universidad de Alicante) and Operator Theo
ren1S with Applications to Distributive Problen1s and Equili
briun1, n1Ddels (Springer-Verlag) and of over thirty articles,
published in journals such as Metroeconomica, Linear Algebra
and its Applications, Journal of Econon1ics, The Manchester
School, Econon1ics Letters, Journal of Public Economics, Mathe
n1atical Social Sciences, Econon1,ic Theory and Spanish specia
list journals. Has been a visiting researcher at the Centre for
Operation Research and Econometrics (Louvain-Ia-Neuve)
and at Stanford University. Is a member of the Advisory Board of
the Investigaciones Econo1nicas review, and is the Spanish per-
son in charge of a European Research Network (within its
Human Capital and Mobility Programme).
3.2. Associate researchers.
Jose Garcia Montalvo (Universitat Pompeu Fabra)
Graduated in Economics from the University of Valencia
in 1987, Doctor in Economics from the University of Harvard,
1993. His research is concentrated on themes connected with
Theoretical and Applied Economics, Industrial Organisation
and Financial Theory. He worked for a year as a researcher in
the Technology and Political Economy Programme of the Ken
nedy School of Government, of the University of Harvard. He
has published articles in International Journal of Industrial
Organisation, Economic Letters and Revista Espanola de Econo
n~ia. Associate researcher in the National Research Plan's pro
ject "Market Imperfections, Growth and the Financial Sector"
(PB93-0388) .
3.3. Collaborators in Research Projects.
In 1994 the following persons took part in different
research projects undertaken by IVIE:
Jose A1carria (University of Caste1l6n)
Joaqu{n Aldas (University of Valencia)
Pablo Antol{n (University of Alicante)
Pilar Beneito (University of ValenCia)
Aurelia Bengochea (University of Caste1l6n)
Carmen Bevia (University of Alicante)
Mf! Atnparo Calnarero (University of Caste1l6n)
Antonio Cubel (University of Valencia)
Jose Migue1 Elnbid (University of Caste1l6n)
Vicente Esteve (University of Valencia)
Gelnlna Fajardo (University of Valencia)
Javier FelTi (University of Valencia)
Jose Luis Gand{a (University of Valencia)
Manuel Garda FelTando (University of Valencia)
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Aurora Garda Gallego (University of Caste1l6n)
Nikolaos Georgantzis (University of Caste1l6n)
Antonio Gitnenez (University of Valencia)
Miguel Gines (University of Alicante)
Francisco]. Goerlich (University of Valencia)
Miguel GonzaJez (University of Alicante)
Dolores Guill6 (University of Alicante)
Mercedes Gumbau (University of Valencia)
Ana Huguet (Universitat de Valencia)
Juan Pablo Juarez (University of Alicante)
Jose Lopez (University of Valencia)
Juan Jose L6pez (Ayuntalniento de Valencia)
C.A. Knox Lovell (University of North Carolina)
M!! Carmen Marco (University of Alicante)
Francisco Marhuenda (University of Alicante)
Rosario Martinez (Universitat de Valencia)
Joaquln Maudos (University of Valencia)
Joaquln Melgarejo (University of Alicante)
M!! Luisa Molto (University of Valencia)
Rafael Molina (University of Valencia)
Jose-Gines Mora (University of Valencia)
Ignacio Ortuno (University of Alicante)
Jesus T. Pastor (University of Alicante)
Jose Manuel Pastor (University of Valencia)
Amado Peiro (University of Valencia)
Jose M!! Peiro (University of Valencia)
Carlos Peraita (University of Valencia)
Josep E. Peris (University of Alicante)
Angel Poveda (University of Alicante)
Otilia A. Salvador (University of Valencia)
Cannen Sanchez (Universitat de Alicante)
Lorenzo Serrano (University of Valencia)
Begona Subiza (University of Alicante)
Cecilio Tatnarit (University of Valencia)
Ramon Torregrosa (University of Alicante)
Jose Maria T011:osa (University of Alicante)
Jose Manuel Vela (University of Castellon)
Luis Vila (University of Valencia)
3.4. Collaborators with training contracts.
In agreement with the Fundaci6n Universidad-Empresa
ADEIT (University of Valencia) Educational Cooperation the
following persons collaborated with training contracts:
Joaquin Aldas
Amparo Sarrio
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4 .. INSTITUTIONAL COOPERATION ..
The Institute's initiatives are possible thanks to the finan
cial support of the institutions which patronize IVIE's lines of
research and share the Institute's aims. Likewise all research
undertaken by IVIE is based mainly on the initiatives and pro
jects of the university professors who are associated to the Insti
tute as researchers and, in general, on the research potential of
the Valencian universities. To favour this relationship, coopera
tion agreements have been signed with Alicante, Caste1l6n and
Valencia universities.
4.1. Patronage.
Financial Economics Area:
Caja de Ahorros del Mediterraneo: Cooperation agreement of
2nd May 1991.
Industrial Economics Area:
IMPIVA: Cooperation agreement of 7th November 1990 and
Special Cooperation agreement of 3rd June 1990.
Social Welfare Area:
Conselleda d'Econom{a i Hisenda (Generalitat Valenciana)
4.2. Collaboration agreements.
University of Valencia:
Collaboration agreement of 15th November 1991.
University of Alicante:
Collaboration agreement of 19th April 1991.
University of Caste1l6n:
Collaboration agreement of 3rd February 1992.
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Instituto Valenciano de Administracion Publica -Valencian Institute of Public Administration:
Collaboration agreement of 27th April 1993.
Fundacion Universidad-Empresa (ADEIT), University of Valencia:
Educational Cooperation agreement of 26th May 1992 and Spe
cial Cooperation agreement of 5th October 1992.
4.3. European Research Networks.
The lVlE participates in the EC Program "Human Capital
and Mobility" as member of an European research network
together with four other prestigious institutes:
• Instituto de Analisis Economico (Universitat Autonoma de
Barcelona), Bellaterra (Barcelona).
• Innocenzo Gaspirini Institute for Economic Research,
Milan.
• Institut d'Economie Industrielle (Universite Toulouse 1),
Toulouse.
• European Centre for Advanced Research in Economics
(Institut d'Estudes Europeennes, Universite Libre de Bruxelles),
Brussels.
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ACTIVITIES
.. PUBLICATIONS.
One of the objectives of the Institute is to support the dif
fuss ion of economic research in the Comunidad Valenciana.
Since its beginnings, the IvrE has been publishing two wor
king-papers series which are previously submitted to an eva
luation process, in which highly qualified anonimous referees
evaluate the papers before they are accepted for publication.
The IvrE wants to publicly express its thanks to all the
referees, who are listed in this Annual Report, for their collabo
ration, which is decisive for the achievement of the Institute's
objectives.
Another aim is to finish the publication process of the
research results, submitting them continuously to the scientists'
judgement. The publication of the associated researchers' work
is held in high esteem and, for this reason, information about
the associates' published articles is also given.
5.1. IVIE Working-Papers .
• AD Series:
The AD series is a continuation of the work initiated by the
Department of Economic Analysis of the University of Alicante
in its collection "A DISCUSION", providing and distributing
papers marked by their theoretical content. This series was co
ordinated during 1994 by Ignacio Maule6n and Fernando Vega.
1994 published issues:
WP-AD 94-01 "Equal Split Guarantee Solution in Economies
with Indivisible Goods Consistency and Popula
tion Monotonicity"
Bevia, C.
WP-AD 94-02 "Expectations, Drift and Volatility in Evolutio
nary Gal11es"
Vega, F.
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WP-AD 94-03 "Expectations, Institutions and Growth"
Vega, F.
WP-AD 94-04 "A Demand Function for Pseudotransitive Prefe-
rences"
Peris, ].E., Subiza, B.
WP-AD 94-05 "Fair Allocation in a General Model with Indivisi
ble Goods"
Bevia, C.
WP-AD 94-06 "Honesty Versus Progressiveness in Income Tax
Enforcelnent Problems"
Marhuenda, F., Ortuno-Ortfn, I.
WP-AD 94-07 "Existence and Efficiency of Equilibrium in Eco
non1ies with Increasing Returns to Scale: An
Exposition"
Villar, A.
WP-AD 94-08 "Stability of Mixed Equilibria in Interactions Bet
ween Two Populations"
Vasin, A.
WP-AD 94-09 "Ilnperfectly Competitive Markets, Trade Unions
and Inflation: Do Itnperfectly Competitive Mar
kets Translnit More Inflation Than Perfectly
Competitive Ones? A Theoretical Appraisal"
Corch6n, L.
WP-AD 94-10 "On the COlnpetitive Effects of Divisionalization"
Corch6n, L., Gonzalez-Maestre, M.
WP-AD 94-11 "Efficient Solutions for Bargaining Problems with
Claitns"
Marco-Gil, M.C.
WP-AD 94-12 "Existence and Optimality of Social Equilibrium
with Many Convex and Nonconvex Finns"
Villar, A.
WP-AD 94-13 "Revealed Preference Axiolns for Rational
Choice on Nonfinite Sets"
Peris, ].E., Sanchez, M.C., Subiza, B.
WP-AD 94-14 "Market Learning and Price-Dispersion"
Alepuz, M.D., Urbano, A ..
WP-AD 94-15 "Bargaining with Reference Points - Bargaining
with Claims: Egalitarian Solutions Reexamined"
Herrero, C.
WP-AD 94-16 "The Itnportance of Fixed Costs in the Design of
Trade Policies: An Exercise in the Theory of
Second Best"
Corch6n, L., Gonzalez-Maestre, M.
WP-AD 94-17 "Computers, Productivity and Market Structure"
Corch6n, L., Wilkie, S.
WP-AD 94-18 "Fiscal Policy Restrictions in a Monetary System:
The Case of Spain"
Escobedo, M.l., Maule6n, I.
WP-AD 94-19 "Pareto Optitnal Ilnproven1ents for Sunspots:
.. BC Series:
The Golden Rule as a Target for Stabilization"
Chattopadhyay, S.K .
The EC series, co-ordinated by Matilde Mas and Javier
Quesada during the 1994 period, 11lainly includes applications
of different analytical tools to the study of specific economic
problems.
1994 published issues:
WP-EC 94-01 "International Migration Flows: The Case of
Spain"
AntoHn, P.
WP-EC 94-02 "Interest Rate, Expectations and the Credibility of
the Bank of Spain"
Goerlich, F.]., Maudos,]., Quesada,].
WP-EC 94-03 "Macrolnagnitudes Basicas a Nive1 Sectorial de la
Industria Espafiola: Series Hist6ricas"
Goerlich, F.]., Orts, V., Garda, S.
27
28
WP-EC 94-04 "Job Search Behaviour"
Antolfn, P.
WP-EC 94-05 "Unemployment Flows and Vacancies in Spain"
Antolfn, P.
WP-EC 94-06 "Paro y Formacion Profesional: Un Analisis de
los Datos de la Encuesta de Poblacion Activa"
Garda Serrano, C., Toharia, L.
WP-EC 94-07 "Detenninantes de la Dinamica de la Productivi
dad de los Bancos y Cajas de Ahorro Espafiolas"
Pastor, ].M.
WP-EC 94-08 "Estimacion Regionalizada del Stock de Capital
Privado (1964-1989)"
Escriba, F.]., Calabuig, V., de Castro, J., Ruiz, J.R.
WP-EC 94-09 "Capital Publico y Eficiencia Productiva Regional
(1964-1989)"
Mas, M., Maudos, ]., Perez, F., Urie1, E.
WP-EC 94-10 "Can the Previous Year Unemployment Rate
Affect Productivity? A DPD Contrast"
Sanchez, R.
WP-EC 94-11 "Colnparing Cointegration Regression Estilna
tors: Some Additional Monte Carlo Results"
Garda Montalvo, ].
WP-EC 94-12 "Factores Determinantes de la Innovacion en las
Empresas de la Comunidad Valenciana"
Gumbau, M.
WP-EC 94-13 "Colnpetencia Ilnperfecta y Discriminacion de
Precios en los Mercados de Exportacion. El Caso
del Sector de Pavitnentos Ceran1icos"
Balaguer, J.
WP-EC 94-14 "Utilidad Expandida Estado Dependiente: Algu
nas Aplicaciones"
Sirvent, R.]., TOlnas, ].
WP-EC 94-15 "EI Efecto de las Nuevas Tecnologfas de Transac
cion en la Deluanda de Dinero en Espafia"
Maudos, ].
WP-EC 94-16 "Desajustes en 10s Tipos de Cambio e 'Hysteresis'
en los Flujos COluerciales: Las Exportaciones
Espafiolas a EE.UU."
de Castro,]., Orts, V., Sempere, J.].
WP-EC 94-17 "Stock Prices and Macroeconomic Factors: Evi
dence frolu European Countries"
Peiro, A .
• Referees:
Antonio Abadia (Universidad COluplutense Madrid)
Marty ]. Andrews (University of Manchester)
Diego Azqueta (Universidad de AlcaIa de Henares)
Philippe Bacchetta (Studienzentrulu Gerzensee, Suiza)
Oscar Bajo (UNED, Madrid)
Samuel Bentolila (CEMFI, Madrid)
Jean-Marc Bonnisseau (Laboratoire d'Econometrie de l'Ecole
Poly technique )
Antoni Bosch (Universitat POlupeu Fabra)
Roberto Burguet (Instituto Analisis Econon1ico, CSIC)
Antonio Cabrales (Universitat POlupeu Fabra)
Luis Corchon (IVIE, Universidad de Alicante)
Bernard Cornet (Universite Paris I)
Juan Jose Dolado (Centro de Estudios Monetarios y Financieros,
Madrid)
Jose Luis Escriva (Coluite de Gobernadores Bancos Centrales CEE,
Basilea)
Manuel Espitia (Universidad de Zaragoza)
Cheol S. Eun (Georgia Institute of Technology)
Ratuon Faulf (Universitat Pompeu Fabra)
M!! Angeles de Frutos (Boston University)
Rosario Gandoy (Universidad de Castilla-La Mancha)
Teresa Garcia-Mila (Universitat POlupeu Fabra)
Jose Garda Montalvo (IVIE, Universitat POlupeu Fabra)
Jordi Gual (IESE)
M!! Dolores Guillo (Universidad de Alicante)
29
30
Carmen Herrero (IVIE, Universidad de Alicante)
Carlos Herves (Universidad Carlos Ill, Madrid)
Ifligo lturbe (U niversidad del Pais Vasco y U niversitat Aut6noma de
Barcelona)
Michael Jerison (University of Bonn)
Juan Pablo Juarez (Universidad de Alicante)
Bruno M. Jullien (CEPREMAP, Paris)
Antoni Manresa (Universitat de Barcelona)
Francisco Marhuenda (Universidad de Alicante)
Matilde Mas (IVIE, Universitat de Valencia)
Jordi Mass6 (Universitat Autonolna de Barcelona)
Ignacio Maule6n (IVIE, Universidad de Alicante)
Diego Moreno (Universidad Carlos Ill, Madrid)
Vicente Orts (Universitat Jaulne I de Caste1l6)
Amado Peir6 (Universitat de Valencia)
Juan Ignacio Pefla (Universidad Carlos Ill, Madrid)
David Perez Castrillo (Universitat Autonoma de Barcelona)
Francisco Perez Garda (IVIE, Universitat deValencia)
Diego Prior (Universitat Aut6noma de Barcelona)
Javier Quesada (IVIE, Universitat de Valencia)
Matthias Raith (Bielefeld Universitat)
Jose Luis RaYlnond (Fundaci6n FIES)
Xavier Sala-i-Martin (Universitat POlnpeu Fabra)
Vicente Salas (Universitat Autonolna de Barcelona)
Larry Satnuelson (University of Wisconsin)
Isabe1 Sanchez Garda (Universidad Carlos Ill, Madrid)
Lorenzo Serrano (Universitat de Valencia)
WaIter Trockel (Institute of Mathelnatical Econolnics, Bielefeld Uni
versitat)
Amparo Urbano (Universitat de Valencia)
Ezequiel Uriel (IVIE, Universitat de Valencia)
Fernando Vega (IVIE, Universidad de Alicante)
Antonio Villar (IVIE, Universidad de Alicante)
Xavier Vives (Instituto de Analisis Econ6mico)
Rajiv Vohra (Brown University)
WaIter Wasserfallen (Studienzentruln Gerzensee, Suiza)
5.2. Associate researchers' publications.
Bevia, c. and Corch6n, L.:
· "On the Generic Impossibility of Truthful Behavior: A
Simple Approach", Economic Theo1Y (forthcoming).
Corch6n, L.: · "Fixed Prices and Quality Signals", Mathematical Social
Sciences, vol. 27, pp. 49-58.
Corch6n, L.:
· "Comparative Statics for Aggregative Games: The Strong
Concavity Case", Matbe1natical Social Sciences, vol. 28,
pp. 151-165.
Corch6n, L. and Ortuiio, I.: · "Robust Implementation under Alternative Information
Structures", Econon1,ic Design (forthcoming).
Domenech, R., Perez, F. and Quesada, J.: · "Specialisation and Profitability in the Spanish Thrift
Institutions (1986-91)", Research Papers RP 94/6, Institute
of European Finance, University College of North Wales,
29 pp.
Garcia Montalvo, J: · "Comparing Co integrating Regression Estimators: Some
Additional Monte Carlo Results", Economic Letters
(forthcoming) .
Garcia Montalvo, J and Yafeh, Y.: · "A Microeconomic Analysis of Technology Transfer: The
Case of Licensing Agreen1ents to Japanese Firms",
InternationalJournal of Industrial Organization, nr. 12,
pp. 227-244.
Herrero, C. and Marco, M.C.: · "Rational Equal-Loss Solution for Bargaining Problems",
Mathen1,atical Social Sciences, vol. 26, pp. 273-286.
31
32
Herrero, Co and Villar, Ae:
· "La Asistencia Sanitaria como un Problema de
Asignaci6n en Presencia de Objetivos Inalcanzables" in G.
L6pez Casasnovas (ed.): Analisis Economico del Sector
Sanitario, Barcelona, Servei Catabi de la Salut, pp.
141-160.
Mas, M., Maudos, J", Perez, F. and Uriel, E.:
· "Disparidades Regionales y Convergencia en las
Comunidades Aut6nomas", Revista de Economia
Aplicada, nr. 4, vol. Il, pp. 129-148.
Mas, M., Maudos, J., Perez, F. and Uriel, E.: · "Capital Publico y Productividad en las Regiones
Espafiolas", Moneda y Credito, nr. 198, pp. 163-206.
Mas, Me, Perez, F. and Uriel, E.:
· "Una nota sobre las dotaciones de capital publico en
Cantabria", Papeles de Econon1ia Espaiiola, nr. 13, pp.
314-320.
Mas, M., Perez, F. and Uriel, E.: · "El capital p{lblico en las Comunidades Aut6nomas
Espafiolas", Boletin de Coyuntura Industrial,
Subdirecci6n General de Estudios, Ministerio de Industria
y Energ{a, nr. 3, pp. 41-51.
Mauleon, le and Raymond, J.L.: · "Inflation in Spain: A Two Sector Model Approach", in
Grauwe, P. de and Tullio, G. (eds.): Controlling Inflation
During Transition to EMU, Oxford University Press
(forthcoming) .
Mauleon, I. and Sastre, L.:
· "Cuatro Preguntas sobre el Deficit Exterior", in "La
Competitividad de la Industria Espafiola", Economia
Industrial, nr. 292, pp. 61-72.
Molto, M.L., Peraita, C., Sanchez, M. and Uriel, E.:
"Metodo e intensidad de busqueda en 10s
desempOrganizador y el Comite Cientffico junto
conleados", Revista de Economfa Aplicada, nr. 4, vol. Il,
pp. 53-74.
Pastor, JeM. and Perez, F.:
· "La Productividad del Sistema Bancario Espafiol
(1986-1992)", Papeles de Economfa Espaiiola, nr. 58, pp.
62-87.
Pastor, J.M., Perez, F. and Quesada, J.: · "Indicadores de Eficiencia en Banca", Revista Vasca de
Economfa, Ekonomiaz, nr. 28, pp. 78-99.
Perez, F.:
· "La Hacienda de la Generalitat Valenciana: un
Panorama", Papeles de Economfa Espaiiola, nr. 59, pp.
452-461.
Perez, F. and Quesada, J.: · "Efficiency and Banking Strategies in Spain", in D.E. Fair
and R.J. Raymond (eds.): TheCon~petitivenessofFinancial
Institutions and Centers in Europe ", Dordrecht (Holanda),
Ed. Kluwer Acadelnic Publishers, SUERF, Financial and
Monetary Policy Studies, vol. 8, pp. 135-149.
Quesada, J.: · "New Forms of Competition Facing the Spanish Banking
System" in J. Revell (ed.): The Changing Face of European
Banks and Securities Markets, New York, St. Martin's
Press, pp. 47-55.
Quesada, J.: · "Ahorro, Planes de Pensiones y Deficit Publico", Revista
Vasca de Econontia, Ekonomiaz, nr. 29, pp. 12-35.
Quesada, J.: · "Cambios en el Sistema Financiero Espafiol y Relaciones
Banca Industria", Econontfa Industrial, nr. 293, pp.
103-128.
33
34
Quesada,
· "Competencia y Eficiencia de las Entidades Financieras:
Analisis Comparativo", Perspectivas del Sistema
Financiero, Fundaci6n FIES, nr. 48, pp. 111-122.
Reig, E.:
· "El Entorno Econ6mico de la Transici6n PoHtica
Espafiola", Agricultura y Sociedad, nr. 68-69, pp.
259-287.
Reig, Ee:
· "La Pol{tica Agncola Comun", in J.M. Jordan (ed.):
Econon1ia de la Union Europea, Ed. Civitas, pp. 269-302.
Robson, A. and Vega, Fe:
· "Efficient Equilibrium Selection in Evolutionary Games
with Random Matching", Journal of Economic Theory,
(forthcoming) .
Uriel, E.:
· "Comentarios sobre la Contabilidad Regional en Espafia"
in A. Pulido and B. Cabrer, (eds.): Datos, tecnicas y
resultados del moderno analisis econom,ico regional,
Valencia, pp. 41-64.
Vega, F.:
· "Technological Change and Path Dependence" in J. Fargerber, N. von Tunzelman and B. Verspagen (eds.):
Catching Up, Forging Ahead and Falling Behind, Edward
Elgar.
Vega, F.:
· "Boundedly Rational Agents Play the Repeated Prisoner's
Dilemma", Theory and Decision, vol. 36, pp. 187-206.
Vega, F.:
· "Technological Change and Path Dependence: A
CO-Evolutionary Model on a Directed Path", Journal of
Evolutionary Econon1ics, vol. 4, pp. 59-80.
Vega, Fe:
· "Public Projects and Private Contributions", Social Choice
and Welfare (forthcoming).
Vega, F.:
· "Pollination and Reward: A Game-Theoretic Approach",
Games and Econon~ic Behavior (forthcoming).
Vega, Fe:
· "The Dynamics and Revealed Preference of Status Quo
Optimality", Economic Theory (forthcoming).
Vega, F.:
· "Cronica de un Galardon Anunciado" , InJormaci6n
Comercial Espaiiola (forth coming).
Vega, F.:
"Technological Change and Market Structure",
International Journal of Industrial Organization
(forthcoming) .
Vi11ar, A.:
· "Equilibrium with Nonconvex Technologies", Econon~ic
Theory, vol. 4, pp. 629-638.
Villar, A.:
· "Existency and Efficiency of Equilibrium in Economies
with Increasing Returns to Scale: An Exposition",
Investigaciones Econ6n~icas, vol. 18, pp. 203-242.
35
RESEARCH PROJECTS.
The Institute undertakes projects to develop its research
areas as well as to answer to concrete requests of other institu
tions and firms with whom the IVIE signs contracts. In 1994 the
IVIE fulfilled, with the help of the associated researchers -or
under their direction-, nineteen internal research contracts.
During this period the IVIE also completed and started research
projects ordered by different institutions by means of contracts.
6.1. Contracts by IVIE with other institutions .
36
., Public Capital Endowments and Regional Development in Catalonia (1993-1994)
The objective of this study is to analyse the geographical
distribution of the endowments of public capital and their rele
vance for the development of the Region of Catalonia.
The research programme will consider the following
aspects:
- Methodology for the evaluation of public capital
endowments.
- Estimates of public capital endowments in Catalonia.
- Analysis of public capital complementary and substi-
tutive factors.
- Regional development problems related to public
capital endowments.
Research team:
Matilde Mas (IVIE, University of Valencia)
Joaquln Maudos (University of Valencia)
Francisco Perez (IVIE, University of Valencia)
Ezequiel Uriel (IVIE, University of Valencia)
Basic Strategic Lines CAM's Social and Cultural Foundation (1994)
The main objective of this study is to design a new strategi
cal plan for CAM's Social and Cultural Foundation (SCF).
The project aims to:
- Describe the environment of the CAM as regards the
legal and economic framework of the savings banks
and their Social and Cultural Activities.
- Analyze from a quantitative and qualitative point of
view the Social and Cultural Activities of the CAM.,
through a survey of the bank's management, emplo
yees and customers, and of the general public. The his
tory and current situation of the CAM's Social and Cul
tural Activities were also analysed in detail.
- Draw the outline of SCF's Strategic Plan in determi
ning its methodology, performance policies and their
potential areas.
Research team:
Jose Miguel Embid (University of Caste1l6n)
Manuel Garcla Ferrando (University of Valencia)
Joaquln Melgarejo (University of Alicante)
Jose M!! Peir6 (University of Valencia)
Francisco Perez (IVIE, University of Valencia)
Angel Poveda (University of Alicante)
Javier Quesada (IVIE, University of Valencia)
Jose M!! Tortosa (University of Alicante)
• Financial Situation of Valencian Co-operative Firms Towards the European Integration (1993-1994)
The main aim of this project is to analyze the financial
situation of Valencian co-operatives and the SUitability of pre
sent regulations.
The project will accomplish the following monographs:
37
38
- Comparative study of the EC Co-operative Regula
tion, analyzing the legal after-effects of Spain's integra
tion in EC on the Valencian co-operative firms.
- Analysis of the economic and financial problems of
the co-operative firm and the effects the establishment
of the Unit Market may have on their competitiveness.
Research team:
Gemma Fajardo (Universitat de Valencia)
Ana Huguet (Universitat de Valencia)
Javier Quesada (lVlE, Universitat de Valencia)
• Elaboration of a Social Accounting Matrix for Spain (1993-1994)
The objective of this research project is the development
of a methodology to elaborate a Social Accounting Matrix
(SAM).
Research team:
Pilar Beneito (Universitat de Valencia)
Javier Ferri (Universitat de Valencia)
M~ Luisa Molto (Universitat de Valencia)
Ezequiel Uriel (lVlE, Universitat de Valencia)
• Public Expenditure in Education in the Valencian region: Territorial Distribution and Recent Evolution of Employment and Qualifications Demand (1993-1994)
The study ailns to analyze public expenditure in educa
tion in the Valencian region during the last decade, its territorial
distribution as well as the recent development of employment
and the demand of qualifications.
The monographs will work out the following aspects:
- Analysis of the educational situation of the Valencian
region in the Spanish context.
- Analysis of the educational distribution of the diffe
rent areas of Valencia, pointing out those in which the
deficiencies are more relevant.
Research team:
Aurelia Bengochea (Universitat Jaume I)
Antonio Cubel (Universitat de Valencia)
Jose Garda Montalvo (IVIE, Universitat Pompeu Fabra)
Rosario Martfnez (Universitat de Valencia)
Jose-Gines Mora (Universitat de Valencia)
Jordi Palafox (lVIE, Universitat de Valencia)
Luis Vila (Universitat de Valencia)
• Human Capital and Employment (1994-1995)
The aim of this project is to draw up, on the basis of the
IVIE's experience and the data it has gathered, the folloWing
series of reports:
- A yearbook on the situation and evolution of human
resources, their qualification and employment in Spain
and in the Valencia Region, with the corresponding sta
tistical series and database and taking into account the
following aspects: the educational level of the human
resources, educational resources and qualification
from the standpoints of both the labour market and the
employer function.
- A report containing the historical series of human
capital fro111 1964 to 1992 on the basis of the results of
studies of human capital in Spain, including specifically
the unemployed, working, active, and working-age
populations for the period, detailing the educational
situation by level of studies and by region.
- Monographic analysis of different aspects of the rela
tionship between education and employment, in order
to obtain an up-to-date diagnosis of the difficulties
involved in the transition from the educational system
to the labour market.
39
40
Research team:
Joaquln Aldas (Universitat de Valencia)
Matilde Mas (IVIE, Universitat de Valencia)
Jose Gines Mora (Universitat de Valencia)
Jordi Palafox (IVIE, Universitat de Valencia)
Francisco Perez (IVIE, Universitat de Valencia)
Lorenzo Serrano (Universitat de Valencia)
Ezequiel Uriel (IVIE, Universitat de Valencia)
The Problems of Local Corporations: Competences, Performance of Services and Finance (1994-1995)
The objective of the study is to analyse in depth the econo
mic and financial problems oflocal governments, taking as refe
rence the experience in other countries, in Spain, and in the
Valencia region. The study is organised around the following
levels of analysis:
- Analysis of the competences of, and services perfor
med by, local corporations, from the perspective of the
current situation of the distribution of competences at
the municipal level and of the factors determining
municipal services and differences in the supply of ser
vices.
- Analysis of the financial problems of local corpora
tions from the perspective of the current situation deri
ved from the mechanisms of financing.
- Design of financing models for local corporations,
evaluating their results and considering the financial
relationships among the different levels of govern
ment.
Research team:
Jose Alcarria (Universitat J aume I)
Antonio Gimenez (Universitat de Valencia)
Juan Jose Lopez (Ayuntamiento de Valencia)
Matilde Mas (IVIE, Universitat de Valencia)
Francisco Perez (IVIE, Universitat de Valencia)
Javier Quesada (lVlE, Universitat de Valencia)
Jose Manuel Vela (Universitat Jaume 1)
.. Economic Impact of the Airport of Valencia on its Surroundings (1994-1995)
The aim of this project is to study the economic impact of
the Airport of Valencia in the context of the economic area in
which it is situated, by means of the analysis of the following
aspects:
- Analysis of the direct impacts of the firms which have
a connection with the airport (airlines, forwarding
agents, transport of goods, ete.)
- Evaluation of the indirect effects.
- Quantitative analysis of the generated impact, esta
blishing the relationships among the productive sectors
directly and indirectly affected by the activities of the
airport; and quantitative estimation of these effects
through the construction of an econometric model.
- Projection into the future of these impacts.
Research team:
Joaquln Aldas (Universitat de Valencia)
Jose Garda Montalvo (lVlE, Universitat Pompeu Fabra)
.. Education Accounts in Spain (1994-1996)
The objective of this project is to draw up, for the first time
in Spain, the Education Accounts, reflecting all the information
relating to this field in much greater detail than can be offered
by the present system of national accounting or by a Matrix of
Social Accounting. By means of the Education Accounts, it is
intended to provide an answer to the questions of who are the
beneficiaries, who the producers and how much is spent on
education. The project is carried out in the following stages:
- Definition and identification of the activities characte
ristic of the educational field.
41
42
- Analysis of the production of educational goods and
services through specific accounts which will include
the sectors of production, finance, and beneficiaries.
Research team:
Javier Ferri (Universitat de Valencia)
M!! Luisa Molto (Universitat de Valencia)
Jose Gines Mora (Universitat de Valencia)
Jordi Palafox (lVlE, Universitat de Valencia)
Francisco Perez (lVlE, Universitat de Valencia)
Ezequiel Uriel (lVlE, Universitat de Valencia)
• The Stock of Capital in the Spanish Economy (1994-1996)
With this project, on the basis of experience and data
already gathered, the lVlE aims to consolidate the statistics on
the stock of public and private capital in Spain, and to achieve
the following objectives:
- The estimation for the year 1991 of the stock of public
capital in Spain, disaggregated functionally and territo
rially. This data will be accompanied by a historical
series of public capital in Spain covering the period
1964-1991.
- The estin1ation for the year 1991 of the stock of pri
vate capital in Spain, disaggregated by sector and terri
torially. The historical series of private capital for the
period 1964-1991 will likewise be drawn up.
Research team:
Francisco Goerlich (Universitat de Valencia)
Matilde Mas (lVlE, Universitat de ValenCia)
Joaquln Maudos (Universitat de Valencia)
Francisco Perez (lVlE, Universitat de Valencia)
Lorenzo Serrano (Universitat de Valencia)
Ezequiel Uriel (lVlE, Universitat de Valencia)
• Ex-post Evaluation Programme (1994)
The objective of this project is to measure the impact of
the vocational training activities co-financed by the European
Social Fund in the Valencia Region starting with the courses
begun in 1992. Their effect on the participants' probability of
finding employment is analysed using data on the occupational
history of those surveyed subsequent to the courses.
Research team:
Jose Garda Montalvo (Universitat Pompeu Fabra)
• Application of the Strategic Plan for the Social and Cultural Activities of Bancaja (1994)
With this project the IVIE has advised Bancaja on the dra
wing up of the Strategic Plan for its Social and Cultural Activities.
Research tealTI:
Jose M~ Peiro (Universitat de Valencia)
Francisco Perez (IVIE, Universitat de Valencia)
Javier Quesada (IVIE, Universitat de Valencia)
Otilia A. Salvador (Universitat de Valencia)
6.2. Research contracts.
• Social Welfare:
· "Sistemas fiscales y mercado no competitivos"
Equipo investigador: Luis Corchon (director) y Ramon Torregrosa.
· "Juegos Supermodulares, Aplicacion a Economfas con Bienes
Indivisibles"
Equipo investigador: Cannen Bevia y Luis Corchon (director).
· "Negociacion con Derechos en Entornos Economicos"
Equi po investigador: Cannen Herrero.
· "La Demanda de Educacion en Espafia: Determinantes e Impli
caciones"
Equipo investigador: Pilar Beneito, Javier Ferri. y M~ Luisa Molto y
Ezequiel Uriel (directores).
43
44
· "Crecimiento Economico y Desempleo: El Factor Capital
Humano"
Equipo investigador: Dolores Guillo, Juan Pablo Juarez y Ignacio
Mauleon (director).
· "Delegacion y Colusion en Mercados Oligopol{sticos"
Equipo investigador: Miguel Gonza.lez e Ignacio Maule6n (direc
tor).
· "Agregacion de Preferencias y Bienestar Social"
Equipo investigador: Josep Peris, Carmen Sanchez y Begona Sub
iza.
· "Deficit Publico, Deuda Publica y Solvencia del Gobierno en
un Contexto de Crecimiento: El Caso de Espafia"
Equipo investigador: M~ Alnparo Calnarero, Vicente Esteve, Ceci
lio Tamarit.
· "Indice de Rendimiento Macroeconomico: Aplicacion al Anali
sis de Pa{ses Iberoamericanos"
Equipo investigador: C.A. Knox Lovell y Jesus T. Pastor.
· "Juegos de Negociacion Coalicional"
Equi po investigador: M~ Cannen Marco, Cannen Herrero (direc
tora) y Begona Su biza.
· "Financiacion de Bienes Publicos"
Equipo investigador: Miguel Gines, Francisco Marhuenda, Ignacio
Ortufio y Fernando Vega (director).
• Industrial Economics:
· "Simultaneidad entre Variables Estrategicas: Innovacion, Pro
duccion y Diferenciacion de Producto"
Equipo investigador: Mercedes Gumbau.
· "AnaJisis Econon1ico-Financiero de las Pymes Valencianas"
Equipo investigador: Manuel Illueca y Jose Manuel Pastor.
· "Probabilidades de Transicion al Empleo y No Participacion, y
la Duracion del Desempleo"
Equipo investigador: Pablo Antolfn.
· "La Actividad Multiproducto y sus Itnplicaciones en Terminos
de Pol{tica de Competencia"
Equipo investigador: Aurora Garda Gallego y Nikolaos Georgant
zis.
lit Financial Economics:
· "Economic Volatility"
Equipo investigador: Fernando Vega.
· "Algunas propiedades de la estructura de autocorrelaci6n de
los rendimientos financieros: evidencia internacional"
Equipo investigador: Amado Peir6 y Ezequiel Urie1 (director).
· "Efectos Macroeconomicos de la Irreversibilidad de la Inver
sion con una Aplicacion al Caso Espafiol"
Equipo investigador: Jose Garda Montalvo.
· "Estudio Emp{rico de la Solvencia Empresarial en la Comuni
dad Valenciana"
Equipo investigador: Jose Luis Gand{a, Jose L6pez y Rafae1 Molina.
6.3. National Research Programme.
IVIE researchers are closely bound to the activities of the
National Research and Technological Development Pro
gramme, in which they participate by not only accomplishing
projects but also by taking part in the evaluation process.
During the 1994 period the associated researchers took part in
the following projects:
· PB90-0579: "Produccion y Competitividad: Teona y Analisis
del Caso Espafiol": M. Mas, F. Perez and]. Quesada.
· PB90-0423: "Industrializacion Espafiola en su Perspectiva His
t6rica (1891-1959)": ]. Palafox.
· PS90-0156: "Modelos Dinamicos: Evolucion y Cambio Tecno
logico": F. Vega (director), ].M. Lopez Cufiat, ].V. Llinares, E.
Mora, F. Marhuenda, I. Ortufio.
· PB91-0756: "Comportamiento Estrategico y Bienestar Social":
L. Corchon, ].A. Silva,]. Lopez Cu6at, M. Gonzalez, C. Sanchez,
C. Bevia, R. Torregrosa and I. Ortufio.
45
46
· PB92-0342 (proyecto tipo C): "Modelos de Comportamiento
Bajo Hipotesis Generales": C. Herrero (directora), M.C. Marco,
J.E. Peris, B. Subiza, R. Sirvent, J. Tomas, A. Villar.
· PB93-0940: "Estado del Bienestar: Sostenimiento y Compatibi
lidad de Incentivos": 1. Corchon (director), l.A. Silva, M. Gonza
lez, C. Bevia, R. Torregrosa, 1. Ortuno, R. Barbolla, A. Urbano, G.
Olcina, B. Moreno (becario).
· PB93-0938: "Instituciones y Crecimiento: Un Enfoque Estrate
gico": F. Vega (director), 1. Jimenez, J. Canals, J. Carmona, 1.
Ortuno, F. Marhuenda, M. Gines.
· PB93-0388: "Imperfecciones de Mercado, Crecimiento y Sec
tor Financiero": X. Freixas (director), J. Garda Montalvo, J.
Mann, M. Gomez, J. Gali, R. Rahit, M. Saez, F. Zilibotti, R. Gior
dano, Delajara.
· PB93-0937: "Estimaciones Econometricas del Stock de Capital:
Metodolog{a y Aplicaciones": 1. Mauleon (director), A. Denia, 1.
Escobedo, J.P. Juarez, A. Gallego, 1. Sastre, A. Maso, J. Agullo.
7 CD SCIENTIFIC MEETINGS.
The Institute took an active part in this field through the
participation of its associates at international and national mee
tings and in organizing seminars, work-shops and courses in
Valencia and Alicante. Organizing these activities the IVIE head
quarters and the university departments become a regular mee
ting point for researchers.
7.1. Meetings organized by the IVIE .
• Workshops:
. "SOCIAL CHOICE AND BARGAINING" [Co-ordinators: Car
men Bevia and Luis Corch6n], Alicante, 13th-14th February:
- Barbera, S. (Universitat Aut6noma de Barcelona):
"Domain Restrictions Strategy-Proofness and Feasibi
lity".
- Bevia, C. (Universidad de Alicante): "Equal Split Gua
rantee Solution in Economies with Indivisible Goods
Consistency and Population Monotonicity" and "Fair
Allocation in a General Model with Indivisible Goods".
- Garcia ]urado, I. (Universidad de Santiago): "The
Owen Value in Graph-Restricted Communication
Games".
- Herrero, C. (IVIE, Universidad de Alicante): "The
Adjusted Proportional Solution for Bargaining Pro
blems with Claims".
- Thomson, W. (University of Rochester): "The Repla
cement Principle for Economies with Single-Peaked
Preferences" .
- Winter, E. (Hebrew University of Jerusalem): "Bar
gaining in Committees".
47
48
· "CAPITAL ACCUMULATION AND GROWTH" [Co-ordinator:
Matilde Mas], Valencia, 12th-13th May:
- Domenech, R. and Bosca, E. (Universitat de
Valencia): "What Can Be Learned from OECD Econo
mic Growth".
- Garcia Montalvo, J. (IVIE and Universitat Pompeu
Fabra): "Thresholds Effects, Public Capital and the
Growth of the United States".
- Huiten, C. (University of Maryland): "Endogenous
Growth, Public Capital and the Convergence of Regio
nal Manufacturing Industries".
- Jorgenson, D.W. (University of Harvard): "Invest
ment in Education and U.S. Economic Growth".
- Juarez, J.P. (Universidad de Alicante): "Una Visi6n
Regional del Mercado de Trabajo en Espafia. Migracio
nes Interregionales".
- Mas, M. (IVIE and Universitat de Valencia) Maudos,
J., (Universitat de Valencia), Perez, F. and Uriel, E.
(IVIE and Universitat de Valencia): "Capital Publico y
Eficiencia Productiva Regional (1964-1989)".
- Sala-i-Martin, X. (University of Yale and Universitat
POlnpeu Fabra): "Measures of Human Capital".
· "PENSION FUNDING" [Co-ordinator: J avier Quesada], Valen
cia, 8th-9th June:
- Butter, F.A.G. den (Free University Amsterdam,
FEWEC): "The Supply of Social Security and the
Increase in the Number of Recipients of Old Age Pen
sions. A Cliometric Analysis of the Negative Labour Par
ticipation Spiral in The Netherlands".
- Disney, R. (IFS and Kent University): "Funding Social
Security Programmes: General Considerations"
- Garcia Montalvo, J. (IVIE and Universitat Pompeu
Fabra) and Quesada, J. (IVIE and Universitat de
Valencia): "AIgunos Aspectos sobre Crecimiento Eco
n6mico y Seguridad Social".
- Herce,J.A. (FEDEA): "Ante la Reforma de las Pensio
nes Publicas: Reflexiones sobre los Elementos Princi
pales del Sistema".
- Lopez, M.A. (Universitat Autonoma de Barcelona):
"Cambio Demografico, Seguridad Social y Fondos de
Capital".
- Perez Infante, J .1. (Ministerio de Econom{a y
Hacienda y Universidad Carlos Ill): "Analisis Econ6-
mico de la Financiaci6n de la Seguridad Social en
Espafia. Situaci6n Actual y Alternativas de Reforma".
- Vagliasindi, P.A. (Universita di Pisa): "The Structural
and Financial Issues of the Pension (and Old Age Secu
rity) Systems, Focussing on the Medium-Long Run
Perspective with Some Evaluations of the Recent Italian
Reform".
- Whitehouse, E. (IFS): "Funding Pension Provision:
the UK Experience" .
. "ECONOMIC THEORY" [Co-ordinator: Fernando VegaJ, Ali
cante, 9th-10th June:
- Goyal, S. (Erasmus University of Rotterdam): "Evolu
tion of Social Coordination".
- Masso, J. (Universitat Aut6noma de Barcelona):
"Cooperative Foundations of the Uniform Allocation
Rule".
- Matsui, A. (University of Pennsylvania): "Language
Diversity, Evolution and the Folk Theorem".
- Mokherjee, D. (Indian Statistical Institute): "Hierar
chies and Incentives".
- Sen, A. (Indian Statistical Institute): "Strategy Proof
ness and Decompability".
49
50
- Ray, D. (Boston University): "Social Equilibrium in
Communities without Information Flows".
- Vega, F. (Universidad de Alicante): "The Evolution of
Smartness, or Viceversa".
. "FINANCIAl. PROBLEMS OF SPANISH SMALL AND
MEDIUM SIZED FIRMS", [Co-ordinator: Javier Quesada],
Valencia, 16th June:
- Martinez, M. (Instituto de Estudios Fiscales): "Fiscali
dad y Financiacion en las PYMES".
- Lopez Gracia,]. (Universitat de Valencia): "Modelos
Cualitativos Versus Modelos Financieros en la Predic
cion de QUiebras".
- Ivanez,].M. (IMPI): "Medidas Financieras de las Ini
ciativas PYME de Desarrollo Industrial".
- Ocana, C. (Ministerio de Econom{a y Hacienda and
Universidad Carlos Ill) and Valles, J. (Banco de
Espana): "La Financiacion de la Pequena y Mediana
Empresa Espanola: la Evidencia Emp{rica".
- Serrano, C. (Universidad de Zaragoza): "Redes Neu
ronales Artificiales en la Prediccion de Quiebras"
. "BANKING EFFICIENCY" [Co-ordinator: J avier Quesada],
Valencia, 1st-2nd December:
- Alvarez Cuesta, R. (Universidad de OViedo): "Esti
mac ion y Analisis de la Eficiencia Tecnica de las Cajas
de Ahorros a traves de un Modelo Flexible".
- Alvarez Cuesta, R., Alvarez Pinilla, A. and Menen
dez, M. (U niversidad de Oviedo): "Eficiencia de las
Cajas de Ahorros. Resultados de una Funcion de Bene
ficios" .
- Ff{)rsund, F.R. (University of Oslo): "Banking Effi
ciency in the Nordic Countries: a Four-Country Malm
quist Index Analysis".
- Maudos, J. and Pastor, J .M. (Universitat de
Valencia): "Productividad, Costes y Rentabilidad en las
Cajas de Ahorros Espafiolas: el Efecto del Cajero Auto
matico".
- Pastor, J .M., Perez, F. and Quesada, J. (Universitat
de Valencia): "International Comparisons of Banking
System Efficiency: a Frontier Approach".
- Pastor, J.T. (Universidad de Alicante): "How to Dis
count Environmental Effects in DEA: an Application to
Bank Branches"
- Picazo, A. (Universitat de Valencia): "Estimacion
Parametrica Frente a No Parametrica de Funciones
Frontera. Una Aplicacion a la Eficiencia Tecnica de la
Industria Espafiola de Seguros Generales"
· "COMPETITIVENESS: BUSINESS AND INDUSTRY" [Co
ordinators: Matilde Mas and Francisco Perez], Paterna (Valen
cia), 15th-16th December:
- Collado, J .C. (Fundaci6n Tomillo): "Estructura Ocu
pacional: Cambio y Convergencia Europea".
- Fernandez, Z. (Universidad Carlos In): "Bases Inter
nas de la Competitividad de la Empresa".
- Gonzalez, A. (Universidad Complutense y MQ Indus
tria y Energia): "Una PoHtica para la Competitividad
Industrial" .
- Gonzalez, M. (Universidad de Granada): "Los Servi
cios y la Competitividad".
- Herce, J.A. (Universidad Complutense y FEDEA):
"Proteccion Social y Competitividad".
- Martin, C. (Universidad Complutense y Fundacion
FIES): "Actividad Tecnol6gica y Competencia de las
Empresas Industriales Espafiolas".
- Mas, F. (IMPIVA): "Servicios a Empresas, PoHtica
Industrial y Regiones".
51
- Palafox,]. (IVIE and Universitat de Valencia): "Creci
miento y Capital Humano: una Perspectiva Espafiola".
- Yagiie, M.]. (Universidad Castilla-La Mancha): "La
Marca Como Capital de la Empresa y Factor de Compe
titividad" .
7.2. Participation of the IVIE researchers at other scientific meetings.
52
• Congress:
· VII CURSO DE ECONOMIA PARA PERIODISTAS DE INFOR
MACI6N ECON6MICA organized by Asociaci6n de Periodistas
de Informaci6n Econ6mica, Madrid, 14th February:
- Perez, F.
· "FGR MATHEMATICAL ECONOMICS CONFERENCE", Mathe
matisches Forschungsinstitut Oberwolfach, Freiburg, 28th
February-4th March:
- Vega, F.
· CICLO: "LOS PAPELES DEL ESTADO", Fundaci6n BBV, Pam
plona, 28th April:
- Perez, F.
o APPLIED ECONOMETRIC ASSOCIATION, Aix en Provence,
28th-29th April:
- Maule6n, I.
· CONGRESS ON LEARNING, Barcelona, 13th-14th May:
- Vega, F.
· "THE COMPETITIVENESS OF FINANCIAL INSTITUTIONS
AND CENTRES IN EUROPE", Societe Universitaire Europeene
de Recherches Financieres, Dublin, 19th-21st May:
- Perez, F.
- Quesada, ].
· VIII CONGRESO DE LA ASOCIACION CIENTIFICA EUROPEA
DE ECONOMIA APLICADA, ASEPELT-ESPANA, Palma de
Mallorca, 2nd-3rd June:
- Mas, M.
- Perez, F.
- Uriel, E.
· INTERNATIONAL CONFERENCE MATHEMATICAL ECONO
MICS AND MATHEMATICAL FINANCE, Tunez, 23rd-25th June:
- Perez, F.
- Quesada, J.
· ECONOMETRIC SOCIETY, Quebec (Canada), 24th-28th June:
- Corch6n, L.
· THE SOCIETY FOR SOCIAL CHOICE AND WELFARE, Roches
ter, 8th-11th July:
- Corch6n, L.
- Herrero, C.
· 34th EUROPEAN CONGRESS OF THE REGIONAL SCIENCE
ASSOCIATION, Groningen, 24th-26th August:
- Mas, M.
- Perez, F.
- Uriel, E.
· ECONOMETRIC SOCIETY EUROPEAN MEETING, Maastricht
(Holanda), 29th August-2nd September:
- Herrero, C.
- Garcia Montalvo, J.
· "WOLPERTINGERMEETING" (EUROPEAN ASSOCIATION OF
UNIVERSITY TEACHERS OF BANKING AND FINANCE
ANNUAL SEMINAR), Modena, 7th-9th September:
- Perez, F.
- Quesada, J.
· "SISTEMA FINANCIERO ESPANOL 1994: LOS RETOS DE LA
COMPETITIVIDAD", X Cursos Internacionales, Centro Medite-
53
54
rraneo de la Universidad de Granada, Almufiecar (Granada),
12th-16th September:
- Quesada, J.
· ENCUENTRO EN TEORIA DE LOS JUEGOS, Bilbao, 14th-16th
September:
- Herrero, C.
· 1994 ASSET MEETING, Lisboa, 18th-19th November:
- Corch6n, L.
· :xx REUNI6N DE ESTUDIOS REGIONALES "PERSPECTIVAS
DE ANALISIS Y DESARROLLO REGIONAL", Consejeria de Eco
nom{a y Hacienda, Gobierno de Canarias, Las Palmas de Gran
Canaria, 30th November-2nd December:
- Perez, F.
· XVIII SIMPOSIUM ANMISIS ECON6MICO, Universitat Aut6-
noma Barcelona, Bellaterra, 14th-16th December:
- Corch6n, L.
- Garcia Montalvo, J. - Perez, F.
- Quesada, J.
• Seminars
· INDIAN STATISTICAL INSTITUTE, New Delhi, 10th January:
- Vega, F.
· UNIVERSIDAD DE MALAGA, 20th January:
- Perez, F
· UNIVERSITY OF CALIFORNIA AT DAVIS, 1st March:
- Herrero, C.
· "LES CIENCIES SOCIALS A L'ESO. LES ALTRES CIENCIES
SOCIALS", plan de Formaci6n en el CEP, Godella, 3rd March:
- Perez, F.
· UNIVERSIDAD DE GUADALAJARA (Mexico), 7th March:
- Herrero, C.
· EL COLEGIO DE MEXICO, 10th March:
- Herrero, C.
· MINISTERIO DE ECONOMIA Y HACIENDA, Madrid, 11th
March:
- Perez, F.
- Uriei, E.
· HARVARD UNIVERSITY, 20th March:
- Corch6n, L.
· UNIVERSIDAD COMPLUTENSE, 24th March:
- Maule6n, I.
· UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL, 28th
March:
- Corch6n, L.
· UNIVERSIDAD PUBLICA DE NAVARRA, 27th April:
- Vega, F.
· UNIVERSITAT AUTONOMA DE BARCELONA, 4th May:
- Maule6n, I.
· UNIVERSITY OF TEXAS AT AUSTIN, 5th May:
- Corch6n, L.
· "EVOLUCI6N ECON6MICA EN LAS CC.AA. Y POLITICAS
PRESUPUESTARIAS DE APOYO A LA ACTIVIDAD
ECON6MICA", Institut d'Estudis Autonomies (Generalitat de
Catalunya), Barcelona, 5th May:
- Perez, F.
· INSTITUTE FOR ADVANCED STUDIES, Viena, 12th May:
- Herrero, C.
55
56
· UNIVERSITY OF COPENHAGUE, 19th May:
- Herrero, C.
· "INFRAESTRUCTURAS, CRECIMIENTO Y DEFICIT PUBLICO",
MOPTMA, Madrid, 1st June:
- Perez, F.
· VIENNA UNIVERSITY, 2nd June:
- Herrero, C.
· "ESTIMACION DEL STOCK DE CAPITAL PUBLICO", D.G. Pla
nificacion, Presupuesto y Gasto Publico (Consellena de Econo
mla y Hacienda, Gobierno de Canarias), Las Palmas de Gran
Canaria, lst-3rd June:
- Uriel, E.
- Mas, M.
- Perez, F.
· UNIVERSITAT DE VALENCIA, 10th June:
- Maule6n, I.
· UNIVERSITAT AUTONOMA DE BARCELONA, 22nd June:
- Vega, F.
· CALIFORNIA TECHNOLOGICAL INSTITUTE, 6th July:
- Corch6n, L.
· UNIVERSITY OF CALIFORNIA AT DAVIS, 7th July:
- Corch6n, L.
· FLORIDA STATE UNIVERSITY, 25th August:
- Corch6n, L.
· PENNSYLVANIA STATE UNIVERSITY, 12th September:
- Corch6n, L.
· BROWN UNIVERSITY, Providence-Rhode Island, 18th Sep
tember:
- Corch6n, L.
· "ANALISIS FINANCIERO DE LAS ADMINISTRACIONES
PUBLICAS", Asociacion para el Progreso de la Direccion,
Madrid, 18th-19th October:
- Perez, F.
Courses
· UNIVERSIDAD DE SALAMANCA, course on "Teona de Jue
gos", Salamanca, 13th-23rd April:
- Herrero, C.
· "SISTEMA FINANCIERO GALLEGO E DESENVOLVIMIENTO
ECON6MICO", summer course of the Universidad de Santiago
de Compostela, 11th-13th July:
- Quesada, J.
· "ECONOMIA REGIONAL: NUEVOS PROBLEMAS, NUEVAS
TEORIAS, NUEVAS POLITICAS", summer course of the Univer
sidad Internacional Menendez y Pelayo, Formigal (Hues ca) ,
23rd September:
- Perez, F.
57
EDUCATIONAL ACTIVITIES.
The academic activities can be divided into two different
education areas. The first initiative supports the university
departments, promoting the participation of other universities
professors in phD programmes. The second one is orientated
towards training specialists of the Public Administration and is
organized together with the Instituto Valenciano de Administra
cion Publica.
8.1. University of Valencia.
58
Together with the Departament of Economic Analysis
(Organizing Committee: Gonzalo Olcina and Amparo Urbano)
the Second Summer Meeting on "Implementation and Issues in
Game Theory" was organized from the 22nd to the 24th of June
in which the following papers were presented:
- Tauman, Y. (University of Tel-Aviv, SUNY at Stony
Brook): "Cost Allocation and Incentive Compatibility"
- Jackson, M. (Northwestern University) "Recent
Issues in Implementation Theory"
- Forshner, Z. (University of Haifa): "Implementation
Theory with Complete and Incomplete Information"
- Brusco, S. (Instituto de An8Jisis Economico): "Imple
mentation Action Profiles when Agents Collude"
- Shapley, L. (University of California at Los Angeles):
"The Structure of Authority and Responsability in Orga
nizations" .
- Barbera, S. (Universitat Autonoma de Barcelona),
Jackson, M. (Northwestern University) and Neme, A.
(University of S. Luis): "Strategy-Proof Rationing".
- Lucas, W. (Claremont University): "Fair Allocations
for Assignment Games with Multiple Types of Agents".
- Masso, J. and Frutos, M.A. de (Universitat Aut6-
noma de Barcelona): "Cooperative Foundations of the
Uniform Allocation Rule".
- Moreno, D. (Universidad Carlos Ill, Madrid): "Stra
tegy-proof allocation mechanisms for economies with
public goods".
- Schmeidler, D. (University of Tel Aviv): "Case
Based Optimizer".
- Allen, B.: "Aumann-Shapley Transfer Princing with
Asymmetric Information"
-Jackson, M. (Northwestern University) and
Wolinsky, A. (Northwestern University): "A Theory of
Social Networks".
- Tauman, Y. (University of Tel-Aviv, SUNY at Stony
Brook): "Bertrand Competition with Interdependent
Demands".
In collaboration with the Departament of Accounting of
the University of Valencia a Workshop on "COMPARATIVE
INTERNATIONAL GOVERNMENTAL ACCOUNTING RE
SEARCH (CIGAR)" was organized from the 9th to the 10th of
June. The main theme of this conference was "International
Research in Public Sector Accounting, Reporting and Auditing".
V. Montesinos and J,M. Vel a (Universitat de Valencia) were in
charge of the organization and formed the Scientific Committee
together with E. Buschor (University of St.Gallen), J.L. Chan
(University of Illinois at Chicago), R. Jones (University of Bir
mingham), K. Luder (Hochschule fur Verwaltungswissenschaf
ten-Speyer), N. Monsen (Norwegian School of Economics and
Business Administration). The following papers were presen
ted:
- Bac, A.D. (Tilburg University): "External Audit of Pro
vinces and Municipalities in the Netherlands".
59
60
- Caperchione, E. (Universita Bocconi, Milan): "The
Role of Governmental Accounting Changes in Italian
Public Administration Renewal".
- Chan, J.L. (University of Illinois at Chicago): "The
Comparative Historical Method of Governmental
Accounting Research: with Applications to China and
the United States" e informe sobre el desarrollo del pro
ximo volumen de CIGAR Research in Governmental
and Nonprofit Accounting.
- Glynn, J., Gray, A. and J enkins, B. (Canterbury
Business School): "The Measurement and Audit of
Effectiveness" .
- Jaruga, A. and Nowak, W. (University of Lodz):
"Governmental Accounting in Transition: Polish Expe
rience".
- Lovell, A. (Nottingham Trent Business School):
"Supreme Audit Institutions and the Accountability of
Governments. A UK Perspective".
- Liider, K. (Hochschule fur Verwaltungswissenschaf
ten Speyer) andJones, R. (University of Birmingham):
"National Income Accounting and Governmental
Accounting in Germany and the UK".
- Mellemvik, F. (Bod0 Graduate School of Business)
and Monsen, N. (Norwegian School of Economics and
Business Administration): "Local Governmental
Accounting in Denlnark, Norway, and Sweden: A Com
parative Study of Consolidation Issues".
- Merouche, C. and Devlin, P. (Caledonian Univer
sity): "A Major Survey of the Practices of the Manage
ment of Overheads in the Local Authorities in Scot
land".
- Montesinos, V. (Universitat de Valencia y Sindicatura
de Cuentas) and Vela, J.M. (Universitat de Valencia):
"Comparative Analysis of OECD Governmental
Accounting Systems: An Empirical Approach".
- Pallot,J. (Office of the Controller and Auditor Gene
ral, Te Mana Arotake, New Zealand): "Accounting to
Infrastructure Assets: Theory and Practice in New Zea
land".
8.2. Instituto Valenciano de Administraci6n Publica.
The IVIE and the Instituto Valenciano de Administracion
Publica organized two training courses directed at specialists
who work in the Public Sector:
• Daniker, R.P. van (National State Auditors Association,
EE.UU.), Hidalgo, J.L. and Gomez Condado, J.C. (Interven
cion General de la Administracion del Estado), Martinez Zara
goza, J.V., Minguillon, A., and Olivas, M. (Sindicatura de
Cuentas, Generalitat Valenciana), Vela, J.M. (Universitat de
Valencia) [Round-Table Conference: Brull, R. (Intervencion
General de la Generalitat Valenciana), Hidalgo, J .L. and
Gomez Condado,J .C. (Intervencion General de la Administra
cion del Estado), Latorre,J. (Peat Marwick), Marco, A. (Uniau
dit-Grant Thornton), Montesinos, V. (Sindicatura de Cuentas,
Generalitat Valenciana) and Plaza, F. (Suma Gestion Tributa
ria)]: "Auditoria de Gestion en el Sector Publico", Valencia, 30th
and 31st May and 6th, 7th, 9th, 13th, and 14th June .
• Cortina,J. (BANCAJA): "Politicas de Incentivos: Anali
sis Financiero y Viabilidad de Empresas", Valencia, 7th, 8th.
10th, 14th, 15th and 17nd November.
61
62
The Annual Report 1994 was approved by the lVlE
Board in its l11eeting of 28th March 1995.
I I INSTITUTO VALENCIANO DE INVESTIGACIONES ECONOMICAS
Cl Guardia Civil, 22, Esc. 2, 1° Telf. (96) 393 08 16 Fax (96) 393 08 56 46020 V ALE N C I A (ESPANA)
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