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La curva de Kuznets de carbono ha sido un tema ampliamente estudiado por la economía ambiental empírica y altamente controversial debido sobre todo a sus consecuencias para la elaboración política contra el cambio climático. Este trabajo está dirigido a analizar la relación entre emisiones de dióxido de carbono y producto para un conjunto de países de la América Latina y el Caribe utilizando un enfoque semiparamétrico. Los resultados confirman la inexistencia de una curva de Kuznets de carbono en la región y ofrecen pruebas en favor de un proceso de relocalización de emisiones, verificando la hipótesis del paraíso de contaminadores en los países de menores ingresos. En este contexto, “esperar y crecer” es una solución totalmente inviable para la situación ambiental en la América Latina y el Caribe. En su lugar, surge con urgencia la necesidad de crear una política climática dirigida a adaptar y mitigar los efectos del cambio climático en la región

This paper deals with the equilibria of games when the agents have multiple objectives and, therefore, their utilities cannot be represented by a single value, but by a vector containing the various dimensions of the utility. Our approach allows the incorporation of partial information about the preferences of the agents into the model, and permits the identification of the set of equilibria in accordance with this information. We also propose an additional conservative criterion which can be applied in this framework in order to predict the results of interaction.The potential application of the theoretical results is shown with an analysis of a mixed oligopoly in which the agents value additional objectives other than their own benefit. These objectives are related to social welfare and to the profit of the industry. The flexibility of our approach provides a general theoretical framework for the analysis of a wide range of strategic economic models.

The relationship between income inequality and economic growth is estimated using dynamic panel estimation on a sample covering 112 emerging countries for the period 1980–2014. The results show that income inequality has a positive influence on economic growth for richer countries, in line with the classic theory, and a negative effect for poorer countries, as argued by the political economy approach. Copyright © 2017 John Wiley & Sons, Ltd.

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In this paper we analyze competition between firms with uncertain demand functions. A duopoly model is considered in which two identical firms producing homogeneous commodities compete in quantities. They face uncertain market demand in a context in which two different future scenarios are possible, and no information about the probability distribution of occurrence of the scenarios is available.This decision-making situation is formalized as a normal-form game with vector-valued utility functions for which the notion of Pareto equilibrium is adopted as a natural extension of that of Cournot equilibrium. Under standard assumptions about the demand functions, we characterize the complete set of Pareto equilibria. In the second part of the paper, we analyse the equilibria to which the agents will arrive depending on their attitude to risk. We find that equilibria always exist if both agents are simultaneously pessimistic or optimistic. In the non-trivial cases, for pessimistic firms, infinitely many equilibria exist, whereas when firms act optimistically, only those pairs of strategies corresponding to the Cournot equilibria in each scenario can be equilibria.

Background: This paper assesses the sustainability of the Spanish economic development model for the period 1980-2010. Moreover, we carry out a comparative analysis with the biggest European economies: France, Germany, Italy and United Kingdom. Methods: In order to achieve the aim of this paper, co-integration techniques have been applied. Through these techniques, we have analyzed the long-term relationship between consumption of renewable and non-renewable and economic development and pollution during the period 1980-2010. After a selection process, for Spain we have used to measure growth the GDP and the Gross Capital Formation; to measure development, the Index of Human Development and Social Capital; for pollution, the emissions of CO 2 and consumption of renewable energy in the electricity system and oil consumption for the consumption of renewable and non-renewable, respectively. the availability of data for these countries Gross Capital Formation and Human Development Index have been excluded from the analysis. Results: First, a positive impact of consumption of renewable and renewable energy on growth and development is found for the five countries under study, with a greater impact of non-renewable energy. For the three countries for which the data for CO 2 emissions are available (Spain, France and the UK), it is observed that the reducing effect of renewable energy on CO 2 emissions is less than the polluting effect of non-renewable energy. Second, for Spain, Germany and France, the data point out a feedback process between the consumption of non-renewable and growth and development, which is not observed with the consumption of renewable energy. Conclusions: In order to reconcile the objective of growth with the reduction of pollution, more moderate growth rates are required. The growth model of the countries analyzed stimulates consumption of non-renewable energy, but not renewable. This result points out the requirement of designing policies that encourage the substitution of non-renewable energy by renewable energy. Key words: sustainability, economic development, renewable energy, non-renewable energy. JEL Classification: O44, Q43. RESUMENAntecedentes: Este trabajo evalúa la sostenibilidad del modelo de desarrollo econó-mico español en el periodo 1980-2010. Asimismo, realiza un análisis comparativo con las grandes economías europeas: Alemania, Francia, Italia y Reino Unido. Metodología: Para alcanzar el objetivo del trabajo se han empleado técnicas de cointegración. Mediante estas técnicas se analiza la relación a largo plazo del consumo de energías renovables y no renovables con el desarrollo económico y la contaminación en el periodo 1980-2010. Tras un proceso de selección de variables, para España se ha utilizado el Producto Interno Bruto (PIB) y la Formación Bruta de Capital, para medir el crecimiento, el Índice de Desarrollo Humano y el Capital Social, para el desarrollo, las emisiones de CO 2 para la contaminación, el consumo de energía renovable en el sistema eléctrico y el consum...

This paper analyzes the relationship between inflation and relative price variability, in the direction of the latter, in two countries with very different inflationary experiences: Argentina and Spain. To address this objective, using disaggregated price indexes (the Wholesale Price Index for Argentina and the Consumer Price Index for Spain), we delimitate different inflationary regimes and compute a set of regressions for each country. Our results suggest evidence in favour of the non-neutrality of inflation (mostly in hyperinflation periods) and do not support either the menu costs or the signal extraction approaches. We also detect significant structural changes in the relationship depending on the inflationary regime.