José Manuel Sánchez Santos

• Professor (Associate) at Universidade da Coruña

The aim of this paper is to analyse the evolution of Spanish households’ indebtedness and financial vulnerability over the course of this century using micro-data from the Household Finance and Consumption Survey. Our results show a growing debt participation of Spanish households and an increase in the stock of outstanding debt of indebted househo...

Objective: This article aims to analyze the evolution of income inequality and mobility in Spain during the period 1999–2011 by exploiting data from personal income tax returns. Methods: To assess the evolution of inequality over the period analyzed, we have used some of the many metrics developed for this purpose, each of which offers a different...

This article studies the association between the characteristics of individuals' social networks and expectations of career advancement, including pay raises and job promotions. The literature has extensively documented the role of social capital as a determinant of labour market outcomes. However, the formation of expectations constitutes another...

Purpose This paper aims to study, by means of an empirical approach, how monetary policy might affect the distribution of individual income. Design/methodology/approach After describing the channels through which monetary policy could impinge on income distribution, the authors carry out a panel analysis of 62 countries that control their monetary...

Heterogeneous social networks are the source of valued life outcomes, and this heterogeneity is associated with different circumstances and personal attributes. This paper analyses the size and socioeconomic diversity of social networks of people who attend sporting events. The relationship between sports participation and social networks has been...

In this editorial statement, we present a balance of the first decade of life of the European Journal of Government and Economics. We discuss the main difficulties an independent journal faces in maintaining the policy of open access and publication free of charge. We also renew the commitment to the journal's spirit, particularly with the editoria...

The study of the physical activity engagement (PA) has given rise to a relevant research agenda in a wide range of fields, such as its close relationship with subjective well‐being, self‐perceived health and social capital. Previous evidence has identified interrelationships among these variables, but without considering different levels of physica...

Involvement in sports is considered a powerful way to generate social capital. However, the role of sport engagement in the development of social relationships of older adults has not received much attention. Remarkably, there is a lack of empirical evidence on the quality and diversity of social relations built through active sport participation a...

The research objective of this paper is to find out the best predictor of internal devaluation measures imposed by governmental decision. There are two competing hypotheses. On the one hand, political instability may affect the implementation of internal devaluation due to opportunistic behavior and strategic thinking from the parties in power. On...

In this paper, we analyse the income distributions in 40 Spanish cities at the neighborhood level using tax data for the 2013-2018 period recently published by the national Tax Agency. To accomplish this, we use several inequality indicators, including the Gini coefficient and the Theil index, whose decomposition allows us to examine the level of s...

Social capital is a controversial concept, which is used in economics as a generic form of pro-sociality and a simple means to introduce the social context into mainstream approaches. However, the accepted view underestimates social conflict and does not properly characterise social capital as an asset. When considering these issues, a different fa...

(https://uk.sagepub.com/en-gb/eur/the-sage-handbook-of-organizational-wellbeing/book269424#contents) The present study attempts to analyze the influence of different expressions of social capital, particularly family and work relations, on individual subjective wellbeing. With this in mind, we consider the effect of family and work relationships an...

The main objective of this chapter is to provide new insights into the economic and social value that financial literacy has for individuals and societies. Financial literacy has implications that are relevant both at a micro (especially for households) and macro-level (for the financial system and for the national economy as a whole). On the one h...

Objective In this article, we seek to determine the main explanatory factors of individual preferences for redistribution in Spain. Methods We use data from the World Values Survey capturing economic factors, political preferences, personal beliefs, and sociodemographic characteristics. Results The results, obtained using both OLS and ordered log...

Background: Previous empirical evidence has shown the positive relationship between happiness or subjective well-being (SWB) and sport participation. Nevertheless, passive sport participation has traditionally been ignored as a correlate with happiness. Methods: Based on a sample of 1,632 Spanish people, one ordered probit model and three extend...

OBJECTIVE: The ranking of countries in the Olympic Games generates a great deal of interest among analysts, academics, and fans. This article proposes an innovative approach to provide Olympic medals (gold, silver, and bronze) with different weights based on metrics of popularity and media visibility and create an alternative historical ranking. ME...

The objective of this study is to analyze the role played by both fiscal and political decentralization as determinants of the expected time in office, understood as the latent (unobservable) durability of the cabinets. Using data for all the EU member states for the period that spans from 2007 up to 2017 and employing two competing survival analys...

In a context of a rise in physical inactivity, this paper aims to provide new insights about the relationship between different forms of sport engagements and their correlates, analysing, for the first time, both active and passive sport involvement for a large sample of individuals. Applying the cluster technique, we identify four different segmen...

This paper presents an empirical research on how monetary policy can affect income distribution. After describing the channels through which monetary policy may have an impact on income distribution, we perform a panel analysis of 15 EU (European Union) countries covering the period 1995-2014. The results provide evidence of a significant positive...

Purpose The purpose of this paper is to analyze the changes in wealth and consumption inequality in Spain and estimate the consumption effects of housing and financial wealth. Design/methodology/approach The estimations are made using micro-data from the Spanish Survey of Household Finances (2002–2014) applying cross-section, panel and interquarti...

In this paper we show a descriptive study, based on bibliometric data that allow us to value the evolution of the research in sports economics in Spain during the period 2002-2011. Throughout this decade, research in sports economics developed by Spanish investigators has reached significant advances. This has been possible due to the constitution...

This paper is concerned with measuring the seigniorage in Romania since the fall of communism and the potential gains after passing to euro. Starting from the balance sheet of the central bank, we estimated these levels of seigniorage for a period of 27 years. Our findings suggest that this source of revenue was at very high rates in the period of...

This paper is concerned with measuring the seigniorage in Romania since the fall of communism and the potential gains after passing to euro. Starting from the balance sheet of the central bank, we estimated these levels of seigniorage for a period of 27 years. Our findings suggest that this source of revenue was at very high rates in the period of...

El objetivo de este estudio es abordar el papel desempeñado por la inestabilidad política como determinante de la implementación de las políticas de devaluación interna. Una mirada al coste laboral unitario de la zona euro muestra que hay algunos países como Irlanda o Grecia que fueron capaces de imponer las dichas medidas (en términos de costes la...

The main objective of this chapter is to provide new insights into the economic and social value that financial literacy has for individuals and societies. Financial literacy has implications that are relevant both at a micro (especially for households) and macro-level (for the financial system and for the national economy as a whole). On the one h...

This paper estimates the consumption effects of housing and financial wealth using micro-data from the five available waves of the Spanish Survey of Household Finances (2002-2014), covering a marked boom-and-bust cycle. Our results suggest a significant positive relationship between household wealth and consumer spending. Disaggregating by asset ty...

This paper deals with some of the most relevant aspects of the relationship between the public sector and professional sport. First, we basically focus on the assessment of arguments providing the rationale for public subsidies to professional sport both in terms of efficiency and equity. In the second part of this study, we focus on the analysis o...

En el presente trabajo se abordan algunos de los aspectos relevantes de la relación entre el sector público y el deporte profesional. En una primera parte, nos centramos fundamentalmente en la evaluación de los argumentos que se esgrimen para justificar la racionalidad de las ayudas públicas al deporte profesional tanto en términos de eficiencia co...

Resumen El presente trabajo estudia la estructura del asociacionismo en España con el objeto de contrastar su incidencia sobre la confianza generalizada. Con este objetivo se analizan, a partir de los datos de una encuesta sobre pertenencia asociativa realizada en España, el vínculo existente entre las redes de pertenencia asociativa de cada indivi...

Objectives The objective of this article is to analyze the different roles played by key factors in individual subjective well‐being (SWB). Making a distinction between females and males, we consider the correlations of different characteristics of a healthy lifestyle, work environment, and social support with happiness in Spain. Methods Based on...

The purpose of the study was to analyse possible related effects between exercise and self-perceived health among people over 50 years old. A survey was conducted in 2012 to 765 community-living subjects from Spain aged between 50 and 70 years. The survey includes the long version of the International Physical Activity Questionnaire (IPAQ) to estim...

In this paper we analyze the non-instrumental dimension of social capital and its effects on subjective well-being. In the first part, we define the characteristics of production and consumption of relational goods. The second section analyses the influence of the different expressions of relational goods and social capital on individual subjective...

The objective of the present paper is to characterize the structure of individual social networks and to provide new insights into the underlying mechanism of individual social capitalization process. In particular, we put to the test three main assumptions underlying Lin's seminal explanatory model of individual social capital determinants (Lin, 2...

Studying the performance and efficiency of countries participating in the Olympic Games is a topic of interest in the area of economics and operations research. Commonly , efficiency in this area has been analyzed using outputs like number of medals, the number of medals weighted by category, and the number of diplomas, while the most common inputs...

Based on a sample of Spanish adults between the ages of 50 and 70 years, the aim of this paper is to establish to what extent physical activity is positively related to individual subjective well-being either directly or indirectly through its link with perceived health. In other words, we attempt to identify the role played by perceived health as...

The aim of this paper is to verify the existence and to determine the nature of long- term relationships between economic agents’ confidence, measured by the Economic Sentiment Index (ESI), with some of the "fundamentals" of the Spanish economy. In particular, by modeling this type of relations, we try to determine whether confidence is a dependent...

In this editorial statement we summarise some of the discussions we have had in the last months regarding the risks associated with the use of indicators for the measurement of research outputs, and how these risks should affect the management of the European Journal of Government and Economics. In particular, we focus on the consequences of the so...

The aim of this paper is twofold. On the one hand, we attempt to find out whether Spanish households took part in a process of substituting loans for wages during the period before the beginning of the current economic crisis. On the other hand, we try to identify the consequences of such process in the evolution of income and consumption inequalit...

Purpose – The purpose of this paper is to obtain evidence about the scope of the determinants of the willingness to pay (WTP) of the residents in a Spanish city (A Coruña) for keeping a professional football team (Deportivo) competing at the highest level. Apart from the individual socio-demographic characteristics of the respondents and their atti...

In this editorial statement we explain the developments in the European Journal of Government and Economics in its second year of existence. In this period, the journal has continued its international expansion, entered some new indices and started to experience its impact, as measured by the number of citations in other journals. After two years o...

The objective of this article is to analyse the determinants of preferences for redistribution in Spain both at an aggregate and regional level. Using country level data, we put to the test the Alesina and Angeletos’ (2005) hypothesis, the strong and positive relationship between the ‘belief that luck determines income’ and the support for redistri...

This paper tries to analyse to what extent the Spanish public debt risk premium is related with the Spanish economic fundamentals. A cointegration analysis of different economic variables (public or private debt/GDP, inflation, unemployment and borrowing capacity) from 1990 to 2012 does not allow us to confirm strongly the long term relationship be...

The aim of this work is to analyse the influence of sociocultural factors on corruption levels. Taking as starting point Husted (J Int Bus Studies 30:339–359, 1999) and Graeff (In: Lambsdorff J, Taube M, Schramm M (eds) The new institutional economics of corruption. Routledge, London, 2005) proposals, we consider both the interrelation between cult...

O presente traballo sitúase no ámbito da socioeconomía para abordar un dos determinantes do desenvolvemento económico, analizando en concreto a evolución recente da dotación de capital social en Galicia. Partindo dunha delimitación básica do concepto de capital social, extráense as principais conclusións dos resultados das tres ondadas da Enquisa M...

The objective of this paper is to analyze the determinants of preferences for redistribution in Spain both at an aggregate and regional level. Using country level data, we put to the test the Alesina and Angeletos' (2005) hypothesis, the strong and positive relationship between the " belief that luck determines income " and the support for redistri...

In the present paper we analyze the determinants of happiness proxying by subjective welfare. The main objective is twofold: on the one hand, to put to the test the Easterlin’s paradox (the lack of a direct relationship between income and subjective wellbeing at aggregate level) and, on the other hand, to weight influence of relational goods in det...

The present work adopts the socioeconomics scope for studying one of the social determinants of economic development. Concretely, it analyses the recent evolution of the Social Capital endowment in the Galician economy. As starting point, we set the boundaries of the concept of Social Capital and their main indicators for extracting the main conclu...

In this editorial statement we present a balance of the first year of life of the European Journal of Government and Economics. We discuss the main developments that concern the journal’s indexation by academic databases. We also comment on the approval of a code of publication ethics and malpractice. Finally, we emphasise the dangers of excessive...

In this editorial statement we present a balance of the first year of life of the European Journal of Government and Economics. We discuss the main developments that concern the journal’s indexation by academic databases. We also comment on the approval of a code of publication ethics and malpractice. Finally, we emphasise the dangers of excessive...

A recente situación de inestabilidade financeira e a súa transmisión á economía produtiva, ademais de revelar o carácter bidireccional da relación entre variables financeiras e reais, deixa importantes interrogantes sobre a capacidade que ten o Banco Central Europeo (BCE) para instrumentar unha política monetaria eficaz nunha área tan heteroxénea c...

In this editorial statement we explain the reasons for the creation of the European Journal of Government and Economics. We argue that there is a general shortage of academic journals. Although the new journal we are starting will not solve or significantly reduce this problem, it will represent a marginal step in the right direction. We also expla...

The present study analyzes the effects of sympathy and identification between sports fans and clubs in the recognition of willingness to pay in favor of these organizations. With this objective, after reconsidering the diverse approaches to this type of bonds, we propose in the first part a theoretical model that considers the psychosociological fa...

This article investigates the influence of local market size on playing success in professional Spanish football. In order to examine this relationship, several regressions were run for linear, beta and fractional logit models, using various proxies of local market size as explanatory variables. The evidence emerging from our analysis suggests that...

This paper analyzes the relationship between real interest rates and housing prices in three European Union countries (France, Spain and the Netherlands) between 1999 and 2010. The main objective is to test whether there is a stable long-run relationship between both variables, as well as whether there are differences across countries. In order to...

The aim of this paper is twofold. First, we explore the key role played by inflation differentials and the obstacles they pose to the consolidation of EMU. Second, we address the question of how the absence of a centralized European budget results in increased vulnerability of the Euro zone. Additionally, and based on the results of our analysis, w...

We investigate whether the members of the Governing Council of the European Central Bank take into account the specific economic conditions of their states of origin, to set the interest rates for the euro area. Testing the national-based view against the Europeanist perspective is a challenging issue, because voting inside the Governing Council is...

In this paper, we carry out a bibliometric study of sports economics research indexed in the Social Sciences Citation Index (SSCI) database from 1956 to 2009. Quantitative evidence provided by some standard bibliometric indicators supports the idea that sports economics can be considered as a successful and fast-growing area. The statistical analys...

The contingent valuation method (CVM) is used to estimate the willingness to pay (WTP) to keep a football club in a city in Spain (R. C. Deportivo de A Coruña). The authors pay attention to the distinction between genuine and protest zeros in the answer to an open-ended question. The authors propose the use of a Double Hurdle model where the inform...

This paper seeks to provide theoretical foundations to address the effects of the asymmetric information inherent to contractual relationships between teams and players in professional team sports. Particularly, a Shapiro-Stiglitz efficiency model version along with Rosen’s insight about superstars economics is used to show that in addition to the...

The main purpose of this paper is to show how Artificial Neural Networks (ANN) is a valid semi-parametric alternative for fitting empirical production function and measuring technical efficiency in professional basketball. Particularly, the present article can be framed within a series of studies that aim to approach empirically the underlying prod...

1.-Introducción 2.-¿Qué es una empresa familiar? 2.1.-Una definición de empresa familiar 2.2.-El sistema social de la empresa familiar 2.3.-La función objetivo de la empresa familiar 3.-¿Dónde está la ventaja competitiva de la empresa familiar? 3.1.-La familiariedad o familihabilidad (familiness) 3.2.-El enfoque basado en recursos y capacidades 3.3...

El presente estudio tiene como objetivo diagnosticar por primera vez en España el impacto social del ruido producido por las infraestructuras lineales en sus dos vertientes más conocidas: la percepción subjetiva de las molestias y el coste social asociado a la contaminación acústica. La organización de la exposición de los datos y su análisis corr...

Este estudio fue promovido y financiado por:

The objective of the present work is to address the role played by social capital as an explanatory factor of corruption. In particular, we attempt to estimate to what extent the perceived levels of corruption are associated to certain forms of trust and social norms and, therefore, to social capital in its diverse expressions. The empirical eviden...

The objective of the present work is to address the role played by social capital as an explanatory factor of corruption . In particular, we attempt to estimate to what extent the perceived levels of corruption are associated to certain forms of trust and social norms and, therefore, to social capital in its diverse expressions . The empirical evid...

This article tries to assess empirically the relative importance of the key factors determining a basketball team performance. For this, and considering performance to be the result of an underlying production process, we estimate a logit model where the output produced by a team is the game outcome and the inputs are those play characteristics tha...

The aim of this article is to assess, from an empirical point of view, the relative explanatory capacities of two hypotheses that address the link between economics and religion: the religious markets and the secularization hypothesis. First, we estimate a baseline model that takes into account both hypotheses jointly. Secondly, we study in a separ...

RESUMEN El objetivo del presente trabajo es analizar las dinámicas demográfica y de la actividad económica en Galicia a escala municipal, así como los procesos circulares de acentuación de las disparidades económicas intrarregionales. A efectos de caracterización de la realidad socioeconómica gallega desde una perspectiva microgeográfica, se apli...

This paper offers a reinterpretation of "Adam Smith's problem" and reconsiders the relation between ethics and economics. It makes a critical revision of the attempts that seek to solve this problem, proposes an alternative framework constructed on the Smithian concepts of sympathy and the impartial spectator, and shows that morality understood as...

En este capítulo se realiza una revisión de la controvertida naturaleza del concepto de capital social y se analizan los principales resultados de los indicadores de capital social para Galicia derivados de la Encuesta Mundial de Valores (oleada 2005). Entre los indicadores analizados están la confianza general, la institucional, el asociacionismo...

En este capítulo se analizan las opiniones, actitudes y valores de la población gallega en torno al sistema económico y al papel del Estado en la Economía. Nuestro punto de partida es la confrontación de materialismo-postmaterialismo. En un segundo apartado se analizan las bases valorativas del sistema económico para, finalmente, revisar las prefer...

This paper offers a reinterpretation of “Adam Smith’s problem” and reconsiders the relation between ethics and economics. It makes a critical revision of the attempts that seek to solve this problem, proposes an alternative framework constructed on the Smithian concepts of sympathy and the impartial spectator, and shows that morality understood as...

Introduction. – 1. The geography of successful football teams: an analytical framework – 2. Empirical analysis – 2.1. Data, model estimation and results – 2.2. Cities and teams: some remarks about market size and teams’ performance – 3. Conclusions – 4. Annex

En el presente trabajo se pretende caracterizar los diversos modelos de desarrollo socioeconómico de los municipios gallegos y la consiguiente distribución de la actividad económica en el espacio de la Comunidad Autónoma. Con este objetivo, el estudio se lleva a cabo en dos fases. En una primera etapa, la aplicación de técnicas multivariantes permi...

En el presente trabajo se pretende caracterizar los diversos modelos de desarrollo socioeconómico de los municipios gallegos y la consiguiente distribución de la actividad económica en el espacio de la Comunidad Autónoma. Con este objetivo, el estudio se lleva a cabo en dos fases. En una primera etapa, la aplicación de técnicas multivariantes permi...

In the present paper we study the models and tendencies of socioeconomic development in Galician councils and the spatial distribution of the economic activity. This work is carried out in two phases. Firstly, the application of multivariant techniques allows to identify the homogenous and functional areas and to establish a ranking of territories...

This paper explores the causal link between associationism and general trust. First we study the principal components that constitute social capital. Then we contrast a structural model identifying the relations between the relevant variables in the so-called Olson-Putnam aporia. The results of the empirical test on the determinants of social capit...

The main objective of this paper is to provide an empirical assessment of the production process in a basketball team. We estimate a logit model in which the output produced by a team is the game outcome (win or loss) and the inputs are those play characteristics that impact on that outcome. From the results obtained it is clear that, on average, t...

En el presente trabajo se realiza una revisión crítica de las principales teorías que tratan de incorporar las conductas altruistas al análisis económico. En primer lugar, se delimitan conceptualmente las acciones altruistas para abordar en qué medida la teoría económica explica dicho comportamiento. En segundo lugar, se realiza un estudio detallad...

En el presente trabajo se aborda la dimensión objetiva del hecho religioso con la metodología propia del análisis económico, poniendo en cuestión las derivaciones de la tradicional hipótesis de la secularización, asumida acríticamente por las restantes ciencias sociales. Así, frente a una visión de la Religión como un hecho social en declive, se ad...

El objetivo del presente trabajo es avanzar en la delimitación de la noción de capital social y en el análisis de la aparente identidad entre éste y la existencia de redes asociativas. Como punto de partida, realizamos una crítica deconstructiva de las inconsistencias de la definición de capital social, para proponer como concepto alternativo el de...

In the present work, the objective dimension of religious facts is analysed with the methodology of Economic Analysis. We put to the test the derivations of the traditional hypothesis of the secularization, assumed acritically in most of social sciences. Opposite to that vision of Religion as a social fact in declivity, a supply approach that expla...

En este trabajo se realiza una revisión crítica de la deficiente concepción del hombre en el ámbito de la Economía, esto es, de la antropología subyacente a la idea de homo oeconomicus. Nuestra perspectiva se centrará en el estudio de la falta de realismo de la racionalidad implícitamente adoptada. A modo de ejercicio práctico el análisis de la con...

Materia: Las políticas macroeconómicas y las restricciones de credibilidad -- Independencia del banco central y política monetaria antiinflacionista -- Políticas macroeconómicas y mercados financieros -- Política monetaria, tipos de interés y expectativas de inflación -- Restricciones políticas y política fiscal -- Política fiscal y déficit público...