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AGRICULTURAL & RESOURCE ECONOMICS |
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Research
and Papers : Ricardo H. Cavazos-Cepeda |
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Personal
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Working Papers Quality Effects
on the Demand for Broadway Shows (with Felipe Vasquez) In this paper we estimate the
effect of quality on the demand for Broadway shows. The data
employed are weekly time series observations on attendance to Broadway
performances and individual characteristics of each Broadway show
playing between December 1995 and June 2003. Our primary measure of
quality is the number of Tony Awards won by each production. In
addition, we include other characteristics of the shows as alternative
measures of quality. We use a discrete choice model
which allows us to separate the effect of prices and quality on the
shows's attendance. We account for the endogeneity of prices and
explicitly model the endogeneity of the outcome of the Tony award. Our
results show Broadway theatre demand slopes
down and the Tony Awards have a positive effect on the shows'
shares of occupied space. Our results are robust to the inclusion of
several types of fixed effects including show, theatre, yearly, and
monthly; different ways to model the endogeneity of price and the Tony
Award, and inclusion of parameters to explore unobserved heterogeneity
in the Broadway audience. We conclude Broadway theatre consumption
follows the law of demand, i.e. demand slopes down; and quality matters
in explaining attendance to Broadway shows. [pdf] Efficiency
Analysis of the Market for Pension Retirement Funds in Mexico: A Demand
and Supply Perspective (with Felipe Vasquez) The North
American Free Trade Agreement (NAFTA) continues
to be controversial. Using an econometric
model of import demand and export supply, the effects of NAFTA on
bilateral
trade between NAFTA partners are estimated. The
model accounts for NAFTA effects separately from the
impacts of exchange
rate movements between NAFTA members, growth in import demand due to
changes in
gross domestic product, and rest-of-the-world exchange rate effects.
Quarterly
time series data from 1986 to 2005 are employed. Counterfactual
comparisons of
model predictions indicate NAFTA has increased bilateral trade between
the Voting behavior in Mexico's Sub-national Politics (with Alejandro Poire) This paper analyzes the outcome of the gubernatorial elections in Mexico on July 6, 1997 for five states. The objective consists in ascertaining what considerations influence Mexican voter behavior. Five multinomial logit models were constructed, one each for Mexico City, Nuevo Leon, Queretaro, San Luis Potosi, and Sonora, respectively. These models were estimated with poll data collected from surveys conducted during the third week of June by the national newspaper Reforma. The models included sociodemographic, party identification, and economic variables. [pdf] Wage Inequality in the Regionalized World Economy This
paper looks at the impact preferential trading arrangements have on the
wage gap between skilled and unskilled labor. Previous research has
overlooked the formation of trading blocs and how these strategic
alliances modify the terms of trade in artificial manners, thereby
inducing an unexpected evolution of wages. Using data from NBER Working
Paper 8058, the Penn World Tables, and the WTO we investigate the
evolution of wages after countries have formed and entered a regional
trading arrangement. Results show that measuring the impact of
preferential trading arrangements is complicated and provide no
definitive answer. This would imply these institutions would have to
evaluated on a case by case basis. [pdf] Economists,
Free Trade, and Social Justice (with Yanay Farja) We address the effects
that Preferential Trading
Arrangements (PTAs) have on wage inequality in several countries
located in the
Americas.
We employ wage data by country, industry, and occupation. We find that
skilled
labor earns higher returns when compared to unskilled labor.
Additionally, the
effects of PTAs on wage differentials cannot be determined ex-ante
since their
effects vary based on the members’ factor endowments. Finally, we
discuss
policy options that include broader social objectives to address the
possible
adverse results of trade policy to achieve social justice. [pdf] Publications Cavazos Cepeda, Ricardo H. and Yanay Farja. "Economists,
Free Trade, and Social Justice." in Di Marco, Luis Eugenio (ed.)
"Hacia
la nueva civilizacion." Ensayos y
Comunicaciones del V Encuentro Internacional de Economia.
Cordoba, Argentina. 2005. Cavazos Cepeda, Ricardo H. and Edgar Torres Garrido. "The
adjustment process of the balance of trade and services when faced with
real exchange rate variations. An application of the J-Curve to the
case of Mexico, 1989-1999." Gaceta
de Economia, ITAM, 2004. Thompson, Gary D. and Ricardo Cavazos Cepeda. "NAFTA's
Tenth Birthday Cumpleanos Feliz?" Arizona Review, Volume 2, Issue 1,
Spring 2004. Thompson, Gary D. and Ricardo Cavazos Cepeda. "Gauging
the Recent Effects of the North American Free Trade Agreement." Journal of the Food Distribution Research
Society. March 2002. |
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