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.

7

8

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)

9

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

11

12

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

13

14

(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

15

16

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)

17

18

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

19

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.

20

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.

21

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.

25

26

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)