Jesus Iglesias

• Phd. Economics
• University of Seville

In this paper, we apply a novel econometric approach joint with an exhaustive revision of the main events in the history of US monetary policy in order to check the effectiveness of monetary policy focused on interest rates. Unlike the traditional cointegration approach, this new methodology allows us to break with the rigidity of traditional appro...

Objectives Extensive empirical and theoretical studies have been devoted to analyzing the relationship between tobacco and income. The price and income elasticities of demand for cigarette consumption are the main focus of studies in this body of literature. However, few empirical studies exist that analyze how economic growth affects the cigarette...

In this paper, we consider the possibility that a fractionally cointegrated vector autoregressive (FCVAR) model could serve as a novel empirical tool for examining the US term structure of interest rates. This econometric approach allows one to test the existence of a long-run relationship between short- and long-term interest rates and spread pers...

To signal monetary policies and market expectations, we apply a fractionally cointegrated vector autoregressive (FCVAR) model, aiming to analyse the expectations hypothesis of term structure (EHTS), persistence in the Euro OverNight Index Average (Eonia) spread and permanent-transitory decomposition using a novel approach. We use a monthly frequenc...

This paper examines financial integration among stock markets in the Eurozone using the prices from each stock index. Monthly time series are constructed for four major stock indices for the period between 1998 and 2016. A fractional cointegrated vector autoregressive model is estimated at an international level. Our results show that there is a pe...

During the recent years, the nexus between unemployment and entrepreneurship has created a considerable focus on developed and industrialized economies, but not developing ones. The main target of this paper is to investigate such a relation in the case of 30 Iranian provinces from 2005Q2 to 2017Q4. Using the ARDL bounds testing and VECM Granger ca...

In this chapter, we summarized an empirical review of the EHTS aiming to establish the adequate procedures for its measurement by using time series. On one hand, the chapter discusses the main findings in the literature in the USA and the EMU and, on the other hand, analyses the linearity restrictions associated with the traditional approaches used...

This article analyses how income shocks in nine countries with major tourism flows to Spain affect the Spanish tourism arrivals for the period 2000–2017. To this end, we apply a Granger causality analysis based on augmented vector autoregressive (VAR) model in levels and extra lags. This provides more efficient and robust results than the standard...

This article applies a recent econometric framework to the analysis of the relationship between energy consumption and economic growth in the US, which allows a joint study of causality and persistence. We provide evidence suggesting a nonlinear relationship with a structural break. In the most recent regime, we find that GDP causes energy consumpt...

This study analyzes the impact of GDP shocks in USA on primary energy consumption and the reverse impact in a comprehensive and novel framework, distinguishing by economic sectors (commercial, industrial, residential and transportation) and energy source, i.e., total fossil (coal, natural gas and petroleum), nuclear, and renewable (hydroelectric, g...

In this paper, we analyze the existence of the environmental Kuznets curve as reported by Kuznets (Am Econ Rev 5:1–28, 1955) by using the methodology proposed by Kejriwal and Perron (J Econ 146:59–73, 2008, J Bus Econ Stat 28:503–522, 2010) and applying Jaunky’s (Energy Policy 39(3):1228–1240, 2011) specification using quarterly data from 1973:1 to...

This study aims to improve our understanding of overqualification by incorporating distinctions in employment status (i.e., self-employed workers, private employees and public employees) in the analysis of the incidence, effects, dynamics and routes out of overqualification. To this end, we apply discrete choice –ordered and non-ordered– and count...

This article is devoted to the exploration of the differences in the returns to education among wage earners and self-employed workers, while distinguishing between own-account workers and employers. Using a data base of EU-countries, we provide new evidence that qualifies some previous empirical findings found in the literature. In particular, we...

Este trabajo trata de contrastar la hipótesis de convergencia estocástica para el gasto total en I+D+i de las comunidades autónomas españolas así como el peso relativo de sus componentes público y privado durante el período 1987-2013, haciendo uso del test de estacionariedad con cambio estructural para datos de panel propuesto por Carrión, del Barr...

The aim of this work is to identify whether the bidirectional relationship between entrepreneurship cycles and output gaps is asymmetric depending on the phase of the business cycle. To this end, we employ a panel threshold regression model in which different relations can prevail in each regime, defined by the values of the threshold variable. The...

En el último lustro el sistema de cajas de ahorros español ha pasado de representar el 50 por 100 del sistema financiero a su casi desaparición En este trabajo analizamos el porqué de este aparente éxito inicial y cuales han podido ser las causas de esta descomposición final. Haciendo uso de las leyes de Zipf y Gibrat, se demuestra cómo el crecimie...