BackBrowsing DFAEII by Author "Gutiérrez Huerta, María José"
Now showing items 1-19 of 19
-
Dynamic Inefficiency in an Overlapping Generation Economy with Pollution and Health Costs
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-01)We analyze an overlapping generations model in which pollution arises, in an accumulatively way, from production. Householders do not care directly about the environment, but pollution leads them to incur health costs when ... -
Economic Effects of Global Warming under Stock Growth Uncertainty: The European Sardine Fishery
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2013)Global warming of the oceans is expected to alter the environmental conditions that determine the growth of a fishery resource. Most climate change studies are based on models and scenarios that focus on economic growth, ... -
Endogenous fisheries management in a stochastic model: Why do fishery agencies use TAC
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-12)The aim of this paper is to explain under which circumstances using TACs as instrument to manage a fishery along with fishing periods may be interesting from a regulatory point of view. In order to do this, the deterministic ... -
Explosive Hyperinflation, Inflation Tax Laffer Curve and Modelling the use of Money
Gutiérrez Huerta, María José; Vázquez Pérez, Jesús
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the existence of an inflation tax Laffer curve (ITLC) in the context of two standard optimizing monetary models: a cash-in-advance model and a money in the utility function model. Agents’ preferences ... -
Growth in Overlapping Generation Economies with Non-Renewable Resources
Agnani, Betty; Gutiérrez Huerta, María José; Iza Padilla, María Amaya (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
Feasibility of positive steady-state growth in overlapping generation (OLG) economies that use non-renewable resources as essential inputs in the production process is analyzed. The model we use is, in essence, that of ... -
Lessons from the northern hake long-term management plan: Could the economic assessment have accepted it?
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2011-01)An economic expert working group (STECF/SGBRE-07-05) was convened in 2007 for evaluating the potential economic consequences of a Long-Term Management Plan for the northern hake. Analyzing all the scenarios proposed by ... -
Markov Switching Risk Premium and the term structure of interest rates. Empirical evidence from US post-war interest rates
Gutiérrez Huerta, María José; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-04)
This paper considers the basic present value model of interest rates under rational expectations with two additional features. First, following McCallum (1994), the model assumes a policy reaction function where changes ... -
Pulse vs. Optimal Stationary Fishing: The Northern Stock of Hake
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2011-11)Pulse fishing may be a global optimal strategy in multicohort fisheries. In this article we compare the pulse fishing solutions obtained by using global numerical methods with the analytical stationary optimal solution. ... -
R&D Policy in Economies with Endogenous Growth and Non-Renewable Resources
Agnani, Betty; Gutiérrez Huerta, María José; Iza Padilla, María Amaya (University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-10)
The aim of this paper is to analyze how active R&D policies affect the growth rate of an economy with endogenous growth and non-renewable resources. We know from Scholz and Ziemens (1999) and Groth (2006) that in infinitely ... -
Reconciling yield stability with international fisheries agencies precautionary preferences: the role of non constant discount factors in age structured models
(2015)International fisheries agencies recommend exploitation paths that satisfy two features. First, for precautionary reasons exploitation paths should avoid high fishing mortality in those fisheries where the biomass is ... -
Reference Points and Optimal Management in Stochastic Age-Structured Fisheries Models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2009-07)The purpose of this article is to characterize dynamic optimal harvesting trajectories that maximize discounted utility assuming an age-structured population model, in the same line as Tahvonen (2009). The main novelty of ... -
Reference Points Based on Dynamic Optimisation: A Versatil Algorithm for Mixed Fishery Management with Bio-economic Agestructured Models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)Single-species management objectives may not be consistent within mixed fisheries. They may lead species to unsafe situations, promote discarding of over-quota and/or misreporting of catches. We provide an algorithm for ... -
Second-best tax policy in a growing economy with externalities
Cassou, Steven P.; Gorostiaga Alonso, Miren Arantzazu; Gutiérrez Huerta, María José; Hamilton, Stephen F. (University of the Basque Country, Department of Foundations of Economic Analysis II, 2006-10)
This paper investigates the exploitation of environmental resources in a growing economy within a second-best scal policy framework. Agents derive utility from two types of consumption goods one which relies on an ... -
Selectivity, pulse fishing and endogenous lifespan in Beverton-Holt models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)Optimal management in a multi-cohort Beverton-Holt model with any number of age classes and imperfect selectivity is equivalent to finding the optimal fish lifespan by chosen fallow cycles. Optimal policy differs in two ... -
Switching Equilibria: The Present Value Model for Stock Prices Revisited
Gutiérrez Huerta, María José; Vázquez Pérez, Jesús (2002-07)
This paper analyzes the different dynamic features displayed by alternative RE equilibria and how these features change for small perturbations of the dividend process parameters. Using historical US data and structural ... -
The changing behaviour of the term structure of post-war US
Gutiérrez Huerta, María José; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
Using U.S. interest rate data covering the period 1950:1-1992:7, this paper tests the rational expectations model of the term structure of interest rates. We show evidence that the rational expectations model of the term ... -
The Evaluation of Fisheries Management: A Dynamic Stochastic Approach
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2003-03)In this article, we analyze how to evaluate fishery resource management under “ecological uncertainty”. In this context, an efficient policy consists of applying a different exploitation rule depending on the state of the ... -
The Optimality of the Common Fisheries Policy: the Northern Stock of Hake
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits ... -
Why Economists Reject Long-Term Fisheries Management Plans?
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2009-08)Most fisheries agencies conduct biological and economic assessments independently. This independent conduct may lead to situations in which economists reject management plans proposed by biologists. The objective of this ...