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Evaluating the optimality of Spanish industry (1980-1993)

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  • Moreno, Rosina

    ()

  • Lopez-Bazo, Enrique

    ()

  • Artis, Manuel

    ()

Abstract

This paper tests whether Spanish industry adjusted the amount of inputs and output to those considered optimal given their prices in each time period. With this aim, we use the short- and long-run equilibrium models given by duality theory, and we apply the optimality tests derived from them for the case of Spanish manufactures from 1980 to 1993. The results obtained point to a disequilibrium in manufactures' behaviour, although it has been vanishing through the period under consideration.

Suggested Citation

  • Moreno, Rosina & Lopez-Bazo, Enrique & Artis, Manuel, 2002. "Evaluating the optimality of Spanish industry (1980-1993)," ERSA conference papers ersa02p353, European Regional Science Association.
  • Handle: RePEc:wiw:wiwrsa:ersa02p353
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    8. Caballero, Ricardo J. & Lyons, Richard K., 1990. "Internal versus external economies in European industry," European Economic Review, Elsevier, vol. 34(4), pages 805-826, June.
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    14. Chambers,Robert G., 1988. "Applied Production Analysis," Cambridge Books, Cambridge University Press, number 9780521314275, December.
    15. Moreno, Rosina & Lopez-Bazo, Enrique & Artis, Manuel, 2002. "Public infrastructure and the performance of manufacturing industries: short- and long-run effects," Regional Science and Urban Economics, Elsevier, vol. 32(1), pages 97-121, January.
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