Volumen 43 Número 86 (2020)
Permanent URI for this collectionhttp://54.81.141.168/handle/123456789/175935
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Item Metadata only A Simple Test of Spatial Autocorrelation for Centered Variables(Pontificia Universidad Católica del Perú. Fondo Editorial, 2021-05-06) Mur, JesúsWe present a simple test of spatial autocorrelation based on the skedastic structure of the spatial series. Its distribution function is known for all sample sizes. Moreover, it is very simple to obtain, specially in a case of small samples where the new GQsp test has great power, higher than other alternatives existing in the literature.Item Metadata only Price and Spatial Distribution of Office Rental in Madrid: A Decision Tree Analysis(Pontificia Universidad Católica del Perú. Fondo Editorial, 2021-05-06) Camacho, Máximo; Ramallo, Salvador; Ruiz, ManuelIn this paper, we assess the drivers of office rental prices in the municipality of Madrid with a sample of 4,721 offices in March, 2020. The estimation was performed using the decision tree approach, which was built with a random forest algorithm. This technique allows us to capture the strong nonlinear component in the relation between price and its drivers, mainly geospatial location. Through a stratified analysis, we find out that the willingness to pay high rent in the center of Madrid is a feature of particular relevance to medium-sized offices. For diferent reasons, we also find out some office clusters located far from the city center with high rent for both large and small offices.Item Metadata only Estimation of Spatial Lag Model Under Random Missing Data in the Dependent Variable. Two Stage Estimator with Imputation(Pontificia Universidad Católica del Perú. Fondo Editorial, 2021-05-06) Izaguirre, AlejandroThe main goal of this article is to propose estimators for the Spatial Lag Model (SLM) under missing data context. We present three alternatives estimators for the SLM based on Two Stage Least Squares estimation methodology. The estimators are eÿcient within their type and consistent under random missing data in the dependent variable. Unlike the IBG2SLS estimator presented in Wang and Lee (2013) which impute all missing data we only impute missing data in the spatial lag. Our first proposal is an alternative version of the IBG2SLS estimator, the second one is based on an approximation to the optimal instruments matrix and the third one is an alternative equivalent to the first. Thorough a Monte Carlo simulation we assess the estimators performance under finite samples. Results show a good performance for all estimators, moreover, results are quite similar to the IBG2SLS estimator suggesting that a complete imputation (as IBG2SLS does) does not add information.Item Metadata only Local Public Investment Drivers in Peru(Pontificia Universidad Católica del Perú. Fondo Editorial, 2020-08-11) Jimenez, Alvaro; Merino, Christian; Sosa, Juan CarlosAround half of Peru’s public investment is made by local governments. Through the estimation of a dynamic panel data model for 1796 local governments between 2010 and 2018, we find that the most important drivers for local public investment are: (i) availability of funding sources, especially those associated to non-renewable natural resource revenues; (ii) variables associated with each local government’s capacity to plan, budget and execute public investment; and (iii) political budget cycle effects, especially during the year following local elections. Furthermore, we extend our analysis by differentiating between local governments with reelected and non-reelected authorities, and by grouping local governments according to their economic size. Most of our results are shown to be robust across different specifications. Results from this paper can be used as a starting point to design mechanisms that make public investment more stable and predictable in a context where reelection banning can further deepen public investment’s fall.Item Metadata only Development of Regional Economics Studies in Peru: Contributions and Criticisms(Pontificia Universidad Católica del Perú. Fondo Editorial, 2020-08-11) Palomino, JuanThis research presents an overview of the evolution of regional economic studies in Peru. After a brief introduction, the document presents a summary of the different conceptions of space in Regional Economics through time. In addition, the document shows the origins of Regional Economics, as well as the factors that explain the interest in the development of regional studies in the Latin American context. This document also explains the importance of the geographical space of Peru for regional research. Indeed, the country is the perfect setting because Peru has a wide geographic diversity (ecosystems, microclimates) throughout its territory, it has implemented a variety of public policies to propose economic growth measures, and it has many social issues to propose territorial policies (migration, crime, health, employment, among others). Despite these characteristics, regional research in Peru is relatively less than in other Latin American countries. Finally, the document offers the contributions and criticisms of the regional studies in the Peruvian context.Item Metadata only Environmental Policy, Mergers and Environmental R&D with Spillovers(Pontificia Universidad Católica del Perú. Fondo Editorial, 2020-08-11) Wang, ChenyuThis project lies at the frontier between environmental economics and industrial organization. We use a duopoly setting of a three-stage game; in the first stage, the government chooses an emission tax and aims for maximizing welfare; in the second stage, firms use R&D to reduce their emissions; in the last stage, firms compete a la Cournot with differentiated products. We focus on two policy regimes and three scenarios, namely regimes of competition and merger andscenarios of commitment, non-commitment, and exogenous tax. The study focuses on two major questions: (1) what is the effect of merger on R&D, and the effect of commitment on R&D? (2) what is the effect of merger and commitment on the economy? Results are obtained through numerical simulations of the model. We find that: (i) Merger has a positive effect on R&D under non-commitment and the exogenous tax scenarios. (ii) Under commitment, if goods are imperfect substitutes or homogenous, merger has a negative effect on R&D; if goods are complements or independent, merger has a positive effect on R&D. (iii) For any types of goods under any regime, commitment has a negative effect on R&D.Item Metadata only School Effect and Student Performance: a Latin American Assessment from PISA(Pontificia Universidad Católica del Perú. Fondo Editorial, 2020-08-11) Alves, Fabiana A.; Candido, OsvaldoCombining data from the last three editions of the Programme for International Student Assessment (PISA) with a multilevel approach, we aim to assess the effect of Latin American schools on student attainment and identify factors that contribute to their performance. It is found that family background, students’ characteristics and school community profile (peer effect) are paramount in explaining student performance. Regarding the school facilities, the disciplinary climate in the classroom and the existence and adequacy of pedagogical resources are the determinants that stood out the most. Moreover, the use of a multilevel approach is of utmost importance, since a considerable art of student performance variation is explained by differences among schools (school effect). Finally, the peer effect and the school effect suggest that the socioeconomic inequality in Latin American countries is quite important in determining the students’ performance.