Person: André García, Francisco Javier
Universidad Complutense de Madrid
Faculty / Institute
Ciencias Económicas y Empresariales
Análisis Económico y economía cuantitativa
Fundamentos del Análisis Económico
Now showing 1 - 10 of 31
PublicationMarket Power in Output and Emissions Trading(Multidisciplinary Digital Publishing Institute (MDPI), 2020) André García, Francisco Javier; De Castro Lejarriaga, Luis MiguelThis article focuses on the strategic behavior of firms in the output and the emissions markets in the presence of market power. We consider the existence of a dominant firm in the permit market and different structures in the output market, including Cournot and two versions of the Stackelberg model, depending on whether the permit dominant firm is a leader or a follower in the output market. In all three models, the firm that dominates the permit market is more sensitive to its initial allocation than its competitor in terms of abatement and less sensitive in terms of output. In all three models, output is decreasing and the permit price is increasing in the permit dominant firm’s initial allocation. In the Cournot model, permit dominance is fruitless in terms of output and profit if the initial allocation is symmetric. Output leadership is more relevant than permit dominance since an output leader always tends to, ceteris paribus, produce more and make more profit whether it also dominates the permit market or not. This leadership can only be overcompensated for by distributing a larger share of permits to the output follower, and only if the total number of permits is large enough. In terms of welfare, Stackelberg is always superior to Cournot. If the initial permit allocation is symmetric, welfare is higher when the same firm dominates the output and the permit market at the same time. PublicationDesigning Efficient Subsidy Policies in a Regional Economy: A Multicriteria Decision-Making (MCDM)-Computable General Equilibrium (CGE) Approach(2009) André García, Francisco Javier; Cardenete, M. AlejandroSince policy-makers usually pursue several conflicting objectives, policy-making can be understood as a multicriteria decision problem. Following the methodological proposal by André and Cardenete (2005) André, F. J. and Cardenete, M. A. 2005. Multicriteria Policy Making. Defining Efficient Policies in a General Equilibrium Model, Seville: Centro de Estudios Andaluces. Working Paper No. E2005/04, multi-objective programming is used in connection with a computable general equilibrium model to represent optimal policy-making and to obtain so-called efficient policies in an application to a regional economy (Andalusia, Spain). This approach is applied to the design of subsidy policies under two different scenarios. In the first scenario, it is assumed that the government is concerned just about two objectives: ensuring the profitability of a key strategic sector and increasing overall output. Finally, the scope of the exercise is enlarged by solving a problem with seven policy objectives, including both general and sectorial objectives. It is concluded that the observed policy could have been Pareto-improved in several directions. PublicationFueling growth when oil peaks: directed technological change and the limits to efficiency(2014) André García, Francisco Javier; Smulders, SjakWhile fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous growth model that reconciles the current aggregate trends in energy use and productivity growth with the intertemporal dynamics of forward looking resource markets. Combining scarcity-rent driven energy supply (in the spirit of Hotelling) with profit-driven Directed Technical Change (in the spirit of Romer/Acemoglu), we generate transitional dynamics that can be qualitatively calibrated to current trends. The long-run properties of the model are studied to examine whether current trends are sustainable. We highlight the role of extraction costs in mining. PublicationApuesta por la acreditación institucional de la Facultad de Ciencias Económicas y Empresariales tanto nacional (AUDIT) como internacional (AACSB)(2019-03-14) Martín López, Sonia; García Greciano, María Begoña; Díez Vial, Isabel; Rivero Rodríguez, Carlos; André García, Francisco Javier; Fossas Olalla, Marta; García Goñi, Manuel; Alonso Guinea, Fernando; Pérez González, JesúsEl objetivo del presente proyecto es dar continuidad al compromiso de la Facultad con la mejora continua de la calidad mediante la solicitud de la acreditación del diseño del SIGC por AUDIT y de la acreditación internacional AACSB. PublicationDifferentiation strategies in coffee farms: opportunities for Costa Rican growers(Cambridge University Press, 2022-08-08) Valenciano Salazar, Jorge A.; André García, Francisco Javier; Díaz Porras, RafaelThis study investigates the determinants of coffee prices received by growers in Costa Rica,paying attention to the impact of environmental, regional, quality, and international aspects in a panel data set for the period 2008–2016. We identify three groups of variables that affect domestic coffee prices. Some of them are external to the control of the coffee growers, such as the international price of green coffee or the power of multinationals; others, such as the altitude where the coffee is harvested or the berries’ yield, are related to coffee quality but difficult to modify by coffee growers. The focus of our study is on the third group, which refers to differentiation strategies related to environmental certifications. More specifically, we consider two particularly relevant certifications, which are Fairtrade mills and organic coffee. We find that organic coffee berries received higher prices, but Fairtrade mills report lower average prices than other, non-certified, buyers. PublicationA multifactor sector model for the stock market: evidence from Spain(Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE), 1998) André García, Francisco Javier; Nuño Sevilla, Luis Enrique; Pérez García, Javier-JoséA factor model which relates the macroeconomy and the stock market evolution is presented. This relation is shown to be different among activity sectors. These differences are detected and quantified in an empirical application to the Madrid Stock Market. Forecasting experiments show that it is possible to improve the predictive ability of widely used models by means of the sensible use of the information provided by macroeconomic variables. PublicationA modified DEA model to estimate the importance of objectives with an application to agricultural economics(Pergamon Elsevier Science, 2010) André García, Francisco Javier; Herrero, Inés; Riesgo, LauraThis paper demonstrates a connection between data envelopment analysis (DEA) and a non-interactive elicitation method to estimate the weights of objectives for decision-makers in a multiple attribute approach. This connection gives rise to a modified DEA model that allows us to estimate not only efficiency measures but also preference weights by radially projecting each unit onto a linear combination of the elements of the payoff matrix (which is obtained by standard multicriteria methods). For users of multiple attribute decision analysis the basic contribution of this paper is a new interpretation in terms of efficiency of the non-interactive methodology employed to estimate weights in a multicriteria approach. We also propose a modified procedure to calculate an efficient payoff matrix and a procedure to estimate weights through a radial projection rather than a distance minimization. For DEA users, we provide a modified DEA procedure to calculate preference weights and efficiency measures that does not depend on any observations in the dataset. This methodology has been applied to an agricultural case study in Spain. PublicationStandardized environmental management systems as an internal management tool(Elsevier Inc., 2015-05) André García, Francisco Javier; Alonso-Paulí, EduardIn a principal-agent model we analyze the firm’s decision to adopt an informal or a standardized Environmental Management System (EMS). Our results are consistent with empirical evidence in several respects. A standardized EMS increases the internal control at the cost of introducing some degree of rigidity that entails an endogenous setup cost. Standardized systems are more prone to be adopted by big and well established firms and under tougher environmental policies. Firms with standardized EMS tend to devote more effort to abatement although this effort results in lower pollution only if public incentives are strong enough, suggesting a complementarity relationship between standardized EMS and public policies. Emission charges have both a marginal effect on abatement and a qualitative effect on the adoption decision that may induce a conflict between private and public interests. As a result of the combination of these two effects it can be optimal for the government to distort the tax in a specific way in order to push the firm to choose the socially optimal EMS. The introduction of standardized systems can result in win-win situations where firms, society and the environment get better off. PublicationOptimal sequence of landfills in solid waste management(2001) André García, Francisco Javier; Cerdá Tena, EmilioGiven that landfills are depletable and replaceable resources, the right approach, when dealing with landfill management, is that of designing an optimal sequence of landfills rather than designing every single landfill separately. In this paper we use Optimal Control models, with mixed elements of both continuous and discrete time problems, to determine an optimal sequence of landfills, as regarding their capacity and lifetime. The resulting optimization problems involve splitting a time horizon of planning into several subintervals, the length of which has to be decided. In each of the subintervals some costs, the amount of which depends on the value of the decision variables, have to be borne. The obtained results may be applied to other economic problems such as private and public investments, consumption decisions on durable goods, etc. PublicationDiseño de un modelo SIGC en el marco del programa AUDIT para la Facultad de Ciencias Económicas y Empresariales(2017-01) García Greciano, María Begoña; Martín López, Sonia; Fossas Olalla, Marta; Alonso Guinea, Fernando; Rivero Rodríguez, Carlos; García Goñi, Manuel; André García, Francisco Javier; Palafox Parejo, María Manuela; Pérez González, JesúsEl presente proyecto pone de manifiesto el compromiso de la Facultad de Ciencias Económicas y Empresariales de la Universidad Complutense de Madrid con la mejora continua de la calidad en el marco del programa AUDIT. Se pretenden establecer los criterios de calidad, hacer el seguimiento de los procesos definidos para lograrlos y establecer estrategias de mejora continua, así como responder al compromiso de satisfacción de las necesidades y respuesta a las expectativas de los diferentes grupos de interés, y facilitar el seguimiento de las titulaciones implantadas.