BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:dc8e7943c12ceb6c931e0e977035701f
CATEGORIES:Seminars
CREATED:20230901T082852
SUMMARY:Lunch Seminar: Eugenio Miravete - University of Texas at Austin
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nIndustrial Policy and the Shaping of Local Preferences\n\n\nAbstract:\n
 Industrial policy might enhance welfare if trade does not happen among comp
 etitive economies and/or if there are potential dynamic economies of scale 
 or consumer learning to be accounted for. We study the case of Spain where 
 policymakers favored foreign entry of automakers from the very beginning of
  the automobile industry. Using rich, province-level, market share data goi
 ng back to the dawn of the Spanish automobile industry we show that entry o
 f a foreign manufacturer triggers a sudden but long-lasting increase in nat
 ional sales, which is always stronger in the local market where the new ass
 embly plant is located. The national home market advantage disappears quick
 ly after Spain joins the EU in 1986. However, intranational home bias, whil
 e smaller in magnitude, strengthens over time. We then estimate an equilibr
 ium, discrete choice demand model of horizontally differentiated products a
 nd an oligopolistic supply to show that the remaining home market advantage
  originated by an industrial policy designed in the autarkic 1950s still am
 ounts to a significant protection of the Spanish domestic market: the equiv
 alent of a 26% tariff against non-European imported vehicles, and a 45% aga
 inst all models not produced in Spain, compared to a nominal import tariff 
 into the European Union of 10.5%.\n
DTSTAMP:20260428T105254Z
DTSTART:20230927T130000Z
DTEND:20230927T140000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR