Professor of Applied Economics (Econometrics)

Department of Economics - University of Extremadura - Spain

Applied Economic Analysis (AEA) Research Group  -  EU-REAL Research Net

EDUCATION 

PhD in Economics, Faculty of Economic and Business Sciences, University of Extremadura, 1991.

BS in Mathematics, Faculty of Sciences, University of Extremadura, 1988.

CONTACT INFORMATION

Facultad de Ciencias Económicas y Empresariales

Universidad de Extremadura

Campus Universitario, Avenida de Elvas s/n

E-06006, Badajoz, Extremadura (Spain) 

Phone: +34-924-28-9547 

Email: ramajo@unex.es 

RESEARCH TOPICS

Empirical macro and microeconomics. Regional economics. Spatial and space-time econometrics. Data science.

CURRENT RESEARCH INTEREST 

Exchange rate economics, aggregate private saving behavior, private and public sectors interdependences, spatial heterogeneity and interregional spillovers, externalities in regional growth, Ricardian equivalence, spatial and hierarchical shift-share analysis, economic policy coordination in the European Union, public capital and regional economic growth, effects of monetary and fiscal policies, contingent valuation method in environmental economics, regional efficiency and productivity convergence.

SELECTED PUBLICATIONS

Papers in International Journals and Chapters in International Books

• "Curvature Restrictions on Flexible Functional Forms: An Application of the Minflex Laurent Almost Ideal Demand System to the Pattern of Spanish Demand, 1954-1987", Journal of Business & Economic Statistics (American Statistical Association), Vol. 12, N. 4, 1994, pp. 431-436.

• "Time-varying parameter error correction models: the demand for money in Venezuela, 1983.I-1994.IV”, Applied Economics, Vol. 33, N. 6, 2001, pp. 771-782.

• “Forecasting in a Small and Unstable Regional Economy Using Regime Shifting Models: The Case of Extremadura”, Geographical Analysis, Vol. 35, N. 2, April 2003, pp. 110-132.

• “Regional interconnections and growth dynamics: the Spanish case”, Australasian Journal of Regional Studies, Vol. 9, N. 1, May 2003, pp. 5-28.

• "Estimação de variáveis económicas sujeitas a dependências espaciais: o caso dos municípios de Portugal continental", Revista Portuguesa de Estudos Regionais, N. 5, 2004, pp. 57-78. 

• “Budget deficit and interest rates: Empirical evidence for Spain”, Applied Economics Letters, Vol 11, N. 11, September 2004, pp. 715-718. 

• “Fiscal policy and private consumption behaviour: the Spanish case”, Empirical Economics, Vol. 30, N. 1, 2005, pp. 115-135. 

• “The demand for money in Portugal, 1979.IV-1998.IV: a cointegration approach", European Review of Economics and Finance, Vol. 4  N. 2, September 2005, pp. 65-95. 

• “Dynamics Effects within a Regional System: An Empirical Approach”,  Environment and Planning A, Vol. 38 N. 4,  April 2006, pp. 711-732. 

• “Explaining Aggregate Private Saving Behaviour: New Evidence from a Panel of OECD Countries”, Applied Financial Economics Letters, Vol. 2 N. 5, September 2006, pp. 311-315. 

• "The Effects of Public Expenditure on Private Consumption: A Disaggregated Analysis for Spain (1970-1997)", International Economic Journal, Vol. 21 N. 1, March 2007, pp. 115-131. 

• "Competition in the allocation of public spending: a new model to analyse the interaction between expenditure categories", Economics Bulletin, Vol. 8, N. 4, 2007, pp. 1-7. 

• "Spatial heterogeneity and interregional spillovers in the European Union: Do cohesion policies encourage convergence across regions?", European Economic Review, Vol. 52, N. 3, 2008, pp. 551-567.

• "Incorporating Sectoral Structure into Shift-Share Analysis", Growth and Change, Vol. 40, N. 4, December, 2009, pp. 594-618.

• "Purchasing power parity revisited: evidence from old and new tests for an OECD panel", Applied Economics, Vol. 42, N. 17, July 2010, pp. 2243-2260.

• “A Spatio-Temporal Econometric Model of Regional Growth in Spain", Journal of Geographical Systems, Vol. 12, N. 2, June 2010, pp. 207-226.

• "Measuring the spillover effects of public capital: a bi-regional structural vector autoregressive analysis", Letters in Spatial and Resource Sciences, Vol. 3, N. 3, 2010, pp. 111-125.

• "Estimating the non-market benefits of water quality improvement for a case study in Spain: A contingent valuation approach", Environmental Science & Policy, Vol 22, 2012, pp. 47-59.

• "Assessing Regional Economic Performance: Regional Competition in Spain Under a Spatial Vector Autorregressive Approach". In Geography, Institutions and Regional Economic Performance, Series: Advances in Spatial Science, R. Crescenzi and M. Percoco (Eds.), Springer-Verlag Berlin Heidelberg, 2013, ISBN 978-3-642-33394-1, pp. 305-330.

• "Export Specialization and Regional Growth: the Chilean and Colombian Cases". In Regional Problems and Policies in Latin America, Series: Advances in Spatial Science, J.R. Cuadrado-Roura and P. Aroca (Eds.), Springer-Verlag Berlin Heidelberg, 2013, ISBN 978-3-642-39673-1, Chapter 23, pp. 523-551.

• "Regional growth and spatial spillovers: Evidence from an SpVAR for the Spanish regions", Papers in Regional Science, Vol. 94, Supplement S1, 2015, pp. S1-S18.

• "Macroeconomic effects of fiscal policy in the European Union: a GVAR model", Empirical Economics, Vol. 48, N. 4, 2015, pp. 1587-1617.

• "The effects of fiscal policy on the Spanish economy: Keynesian or non-Keynesian behavior?", Journal of Policy Modeling, Vol. 37, N. 6, 2015, pp. 1019-1048.

• "Time-varying effects of fiscal policy in Spain: a Markov-switching approach", Applied Economics Letters, Vol. 23, N. 8, 2016, pp. 597-600.

• "Do Spanish fiscal regimes follow the euro-area trends? Evidence from Markov-Switching fiscal rules", Economic Modelling, Vol. 59, 2016, pp. 484-494.

• "Spatiotemporal Analysis of Regional Systems. A Multiregional Spatial Vector Autoregressive Model for Spain", International Regional Science Review, 2017, Vol. 40, N. 1, pp. 75-96.

• "European regional efficiency and geographical externalities: a spatial nonparametric frontier analysis", Journal of Geographical Systems, 2017, Vol. 19, N. 4,  pp. 319-348. Springer Nature SharedIt link: http://rdcu.be/qrEN.

• "Regional Public Stock Reductions in Spain: Estimations from a Multiregional Spatial Vector Autoregressive Model", REGION, 2017, Vol. 4, N. 1, pp. 129-146.

• "Modelling regional productivity performance across Western Europe" , Regional Studies, 2018, Vol. 52, N. 10, pp. 1372-1387.

• "Business regulation and economic growth: The indirect effect of corruption in Latin America and the Caribbean", Journal of Developmental Entrepreneurship, 2018, Vol. 23, N. 1, pp. (1850003) 1 - 22.

• "Instituciones y volatilidad del crecimiento económico: una aproximación a America Latina y el Caribe", Cuadernos de Economía, 2019, Vol. 38, N. 76, pp. 81-108.

• "Impacts of Neighbors on Local Tax Rates: A Space–Time Dynamic Panel Data Analysis", International Regional Science Review, 2020, Vol. 43, Issue (1-2), pp. 105-127.

• "A Spatial Analysis of Intensity in Tourism Accommodation: An Application for Extremadura (Spain)", Economies, 2020, Vol. 8, Issue 2: 28, pp. 1-21.

• "Spatial Intensity in Tourism Accommodation: Modelling Differences in Trends for Several Types through Poisson Models", ISPRS International Journal of Geo-Information, 2020, Vol. 9, Issue 8: 473, pp. 1-23.

• "A stochastic semi‐non‐parametric analysis of regional efficiency in the European Union", Regional Science Policy & Practice, 2021, Vol. 13,  Issue 1, pp.  7-24 . 

• "Design and validation of an index to measure development in rural areas through stakeholder participation", Journal of Rural Studies, 2022, Vol. 95, 232-240.

• "Addressing spatial dependence when estimating technical efficiency: A spatializated data envelopment analysis of regional productive performance in the European Union", Growth and Change, 2024, Vol. 55,  Issue 1, DOI: 10.1111/grow.12711. 

Papers in Spanish Journals and Chapters in Spanish Books

•  "Modelización  de  las  Funciones  de  Demanda  de  los  Consumidores  mediante Técnicas  Splines", Cuadernos  de  Economía,  Vol. 23, N. 59, Sep.‑Dec. 1992, pp. 361‑383.

• "Estudio  de  la  Estructura de Consumo Agregado en España durante el Período 1954‑1987: Una  Aplicación del Modelo  AIDS  Globalmente  Flexible", Cuadernos Aragoneses de Economía, Vol. 3, N. 1, 1993, pp. 129‑137. 

• "Nuevos  Enfoques  en  la  teoría de la demanda: el caso español, 1954‑1987", Revista Española de Economía, Vol. 11, N. 1, 1994, pp. 49‑69. 

• "Estimación  de  Respuestas  Renta  de  los  Consumidores:  Una Aplicación del Modelo de Regresión  Lineal  Discontinua  a Tramos", Estudios de Economía Aplicada, N. 1, Junio 1994, pp. 61‑86. 

• "La demanda de productos alimenticios, bebidas y tabaco en Extremadura: un enfoque de regresiones censuradas", Investigación Agraria. Economía, Vol. 11, N. 3, Ministerio de Agricultura, Pesca y Alimentación (Instituto Nacional de Investigación y Tecnología Agraria y Alimentaria), 1996, pp. 469-498. 

• "El consumo familiar de bienes y servicios en España (1964-1994). Un modelo dinámico de corrección de error", Revista de Economía Aplicada, Vol. 5, N. 13, 1997, pp. 39-63. 

• "Evolución reciente de la economía extremeña y perspectivas a corto y medio plazo", Revista Situación (Serie de Estudios Regionales), Servicio de Estudios del Banco Bilbao Vizcaya, 1997, pp. 359-375. 

• “Algunas consideraciones en torno a la evolución reciente de la economía extremeña”, Papeles de Economía Española (Economía de las Comunidades Autónomas), N. 17, 1998, pp. 33-45. 

•  “Matriz de contabilidad social y multiplicadores contables: una aplicación para Extremadura”, Estadística Española, Vol. 40, N. 143, 1998, pp. 195-232. 

• “Eficiencia productiva del sector industrial español: un análisis espacial y sectorial”, Papeles de Economía Española (Regiones y Ciudades. Convergencia en Clave Europea), N. 80, 1999, pp. 51-68. 

•  “Indicadores sintéticos de actividad económica: el caso de Extremadura”. In Análisis Regional. El proyecto HISPALINK (B. Cabrer, Ed. and Coord.), Ediciones Mundi-Prensa, ISBN 84-7114-974-5, 2001, pp. 301-312. 

• “Avances recientes en el análisis econométrico de la demanda”. In Economía Agraria y Recursos Naturales. Nuevos Enfoques y Perspectivas (A. Álvarez, Coord.), Asociación Española de Economía Agraria, ISBN 84-607-3027-1, 2001, Chapter 9, pp. 211-249.

• "Componentes espaciales en el modelo Shift-Share: Una aplicación al caso de las regiones peninsulares españolas", Estadística Española, Vol. 50, N. 168, 2008, pp. 41-65.

• "Evaluación de los efectos económicos de los fondos estructurales del período 2000-2006 sobre Extremadura", Papeles de Economía Española (Fondos Estructurales y Convergencia Regional), N. 123, 2010, pp. 191-205.

• "Public Capital and Regional Economic Growth: a SVAR Approach for the Spanish Regions", Investigaciones Regionales, N. 21, 2011,  pp. 201-225.

• "Does Regional Public Capital Crowd Out Regional Private Capital? A Multirregional Analysis for the Spanish Regions", Estadística Española, Vol. 55, N. 180, 2013, pp. 25-46.

• "Economic impact of the European Funds in Extremadura during the period 2007-2013", Investigaciones Regionales, N. 29, 2014, pp. 113-128.

• "Los grandes retos de la economía extremeña para el siglo XXI", Papeles de Economía Española (Las Comunidades Autónomas Dispuestas a Crecer), N. 148, 2016, pp. 118-125.

• "Instituciones y crecimiento económico: ¿consenso en la literatura?", Investigaciones Regionales-Journal of Regional Research, N. 37, 2017,  pp. 155-185.

• “Sobre la competición económica regional en España”. In Política Económica, Economía Regional y Servicios (T. Mancha, Dir. and Coord.), Editorial Aranzadi/Civitas-Thomson Reuters, ISBN 978-84-9152-645-2, 2017, Cap. 25, pp. 323-344.

• "Los efectos económicos de la Política de Cohesión en Extremadura 1994-2020: 25 años de programas y fondos de la Unión Europea", Investigaciones Regionales-Journal of Regional Research, N. 40, 2018,  pp. 199-220.

Working Papers and Unpublished Research

In English

• "Measuring externalities in regional growth: an empirical approach", Discussion Paper 03-T-9, REAL, University of Illinois at Urbana-Champaign/Federal Reserve Bank of Chicago, 2003. (PUBLISHED IN ENVIRONMENT AND PLANNING A, 2006).

• "Spatial Heterogeneity and Interregional Spillovers in EU: Some Evidence about the Effects of Cohesion Policies on Convergence", Discussion Paper DP-05-01, EU-REAL, 2005 [also Discussion Paper 05-T-2, REAL]. (PUBLISHED IN EUROPEAN ECONOMIC REVIEW, 2008).

• "Interdependences between public and private sectors: the influence of consumers on the structure of public expenditure in Spain (1970-1997)", mimeo, 2005. (SPANISH VERSION PUBLISHED IN "ECONOMÍA PÚBLICA DE ARGENTINA Y ESPAÑA", H.R. GERTEL ET AL. (EDS.), EDICON (Buenos Aires), 2007).

• "Competition in the allocation of public spending: a new model to analyse the interaction between expenditure categories", mimeo, 2005. (PUBLISHED IN ECONOMICS BULLETIN, 2007).

• "Technical inefficiency in municipal water distribution service: a case study for Portugal", mimeo, 2005.

• "Testing for long-run purchasing power parity in the post Bretton Woods era: evidence from old and new tests", Instituto de Estudios Fiscales (Papeles de Trabajo), P.T. N.º 24/05, 2005. (PUBLISHED IN APLLIED ECONOMICS).

• "Incorporating Sectoral Structure into Shift-Share Analysis", Discussion Paper DP-08-01, EU-REAL, 2008. (PUBLISHED IN GROWTH AND CHANGE).

• "Does the fiscal position of the EMU influence ECB decisions?", Working Paper AEA-08-02 (AEA Research Group, Department of Economics, University of Extremadura), 2008.

• "Domestic and cross-border effects of public capital: a SVAR approach for the Spanish regions", Discussion Paper 09-T-2, REAL, 2009, University of Illinois at Urbana-Champaign/Federal Reserve Bank of Chicago. (PARTLY PUBLISHED IN LETTERS IN SPATIAL AND RESOURCE SCIENCES).

• "Testing the monetary exchange rate model: panel cointegration and nonlinear adjustment", Discussion Paper DP-08-03, EU-REAL, 2008.

• "Public Finance Behavior of the Spanish Regions: An Analysis Based on Fiscal Reaction Functions", SSRN Electronic Journal, 10.2139/ssrn.3280242, 2018.

In Spanish

• "El consumo familiar de bienes y servicios en España, 1964-1994 (y II): Un modelo VAR cointegrado estructural", mimeo, 1999.

• "Crecimiento económico y dinámica de distribución de la renta en las regiones de la UE: un análisis no paramétrico", Instituto de Estudios Fiscales (Papeles de Trabajo), P.T. N.º 15/01, 2001.

• “Los efectos de la política fiscal sobre el consumo privado: nueva evidencia para el caso español” , Instituto de Estudios Fiscales (Papeles de Trabajo), P.T. N.º 13/02, 2002. (ENGLISH VERSION PUBLISHED IN EMPIRICAL ECONOMICS, 2005)

• "Equivalencia Ricardiana y tipos de interés", Instituto de Estudios Fiscales (Papeles de Trabajo), P.T. N.º 27/03, 2003. (ENGLISH VERSION PUBLISHED IN APPLIED ECONOMICS LETTERS, 2004)

• "Los efectos de la política fiscal sobre el ahorro privado: evidencia para la OCDE", Instituto de Estudios Fiscales (Papeles de Trabajo), P.T.N.º 3/04, 2004. (ENGLISH VERSION PUBLISHED IN APPLIED FINANCIAL ECONOMICS LETTERS, 2006)

• "Factores de la discapacidad en España. Determinación de perfiles", mimeo, 2005.

• "Los efectos macroeconómicos del déficit público: evidencia empírica para el caso español", ponencia presentada a las 38 Jornadas Internacionales de Finanzas Públicas (Universidad Nacional de Córdoba, Argentina), 2005.

• "Componentes espaciales en el modelo Shift-Share. Una aplicación al caso de las regiones peninsulares españolas", mimeo, 2007. (PUBLISHED IN ESTADÍSTICA ESPAÑOLA, 2008).

• "Contraste empírico del modelo monetario de tipos de cambio: cointegración y ajuste no lineal", Instituto de Estudios Fiscales (Papeles de Trabajo), P.T. N.º 3/07, 2007.

• "Asimetrías y efectos desbordamiento en la transmisión de la política fiscal en la Unión Europea: evidencia a partir de un enfoque VAR estructural", Instituto de Estudios Fiscales (Papeles de Trabajo), P.T. N.º 18/08, 2008. Also Working Paper AEA-08-01 (AEA Research Group, Department of Economics, University of Extremadura).