TITLE: Long-run effects of floods at municipality level in Spain
ABSTRACT: This paper deals with the persistence of the effects of natural disasters on population, concretely at
the municipal level. With this aim, we analyze information about the population of all Spanish municipalities and flood events from 1877 to 2011. Using recent developments in differences-in-differences
estimation methods, we find a negative and significant impact of floods on population in the short term
when there are casualties involved. Therefore, and in line with the results of other types of shocks, we
provide evidence that shocks related to natural disasters have a demographic transitory effect.
Link: http://repec.org/frsug2023/France23_Pena.pdf
TITLE: The Effects of the Inequality–Credit Nexus on Banking Crises
ABSTRACT: The question of how the interaction between credit expansion and income inequality (inequality–credit nexus) impacts on economic activity is a subject of much debate. This paper analyzes the underlying mechanisms of this link and its effects on the likelihood of banking crises. For this purpose, an empirical methodology through System GMM models is applied to data from 108 world middle-income countries for the 2002-2017 period in the full sample. A greater inequality raises the risk of a banking crisis when financial development is lower but this result is attenuated in economies with more developed financial systems.
TITLE (1): City Income Distribution by Subnational Level in Spain
Presented by: Dr. Guillermo Peña, coauthors: Dr. Miguel Puente-Ajovín, Dr. Marcos Sanso-Navarro, Prof. Fernando SanzGracia, Dr. María Vera-Cabello
ABSTRACT: There is a recent trend in studying the city size distribution measuring it both in demographic and in economic terms. This is an issue that is receiving attention in several countries, mainly because of the depopulation of the country side in many of them. This paper tries to contribute to this literature by exploiting a novel balanced panel data set of income in Spanish municipalities that covers the period 2015-2019. A two-steps procedure is applied. First, we compare the distributions of local population, aggregated nighttime lights and income. Second, we also analyze the determinants of estimated Pareto coefficients at the NUTS-3 level using a dynamic-spatial panel data estimation framework, by estimating System GMM, SAR and SDM models. Our results suggest that population and income are more unevenly distributed than night lights. In addition, we find that socioeconomic variables are able
to explain the distribution of economic activity and, especially, population.
TITLE (2): A New Economic Interpretation of Spatial-Temporal Equilibrium
Presented by: Dr. Guillermo Peña
ABSTRACT: This paper provides a general theory that homogenizes different economic flows as spatial trade (commerce), temporal trade (finance), human capital flows (migrations) or goods and services flows (sales and purchases) in a unique, simple but useful, economic model of Spatial-Temporal Gravity
Equilibrium. Based on recent gravity models and the Reilly’s law, this theory proposes a cardinal utility function that, considering interests and transport costs, leads to an equation that is, to the author knowledge, the closest theoretical derivation of the Newton’s gravity law in Economics. By considering an ideal relationship between the two flows with opposite monetary direction, the share of this ideal flow over the two others is equal, according to the derivations of the proposed theory, to twice the product of the two stock variables associated to the two flows over the sum of both, divided
by the square of the distance whether there is any spatial difference or divided by the maturity or time is there is any temporal difference in both flows.
TITLE: Exogenous Impact of the Spanish Banking Reform of 2012 on Rural Areas
Presented by: Guillermo Peña
ABSTRACT: The present paper deals with the effects on the Spanish municipalities of the financial reform after the Law of Sanitation of the Financial Sector of February, 2012. To this aim, recent Difference-in-Differences techniques with multiple time periods are applied to the population for 1986–2021 and the loose of bank branches on municipalities for 2012– 2021 derived of that reform. The results show a negative but temporal impact of the loose of these entities for rural areas on both population and economic activity per capita, being robust to different specifications, control variables and samples. Robustness checks and policy measures are also provided
TITLE: Sweet home Spain: Cadaster revisions and Spanish municipalities’ population
ABSTRACT: This paper uses recent Difference-in-Differences techniques with multiple time periods to assess the impact of the cadaster revision for several
years collected between 2000 and 2021 for checking the impact on the population of the municipalities of Spain with the exceptions of the Basque Country and Navarre during the period of 1986-2021. The results are conclusive: cadaster revisions lead to lower municipality’s population only when the urban tax rate has risen in the period. Policy implications and measures are also provided.
LINK: https://pearl.econ.muni.cz/program