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Dr. Agustin Garcia
University of Extremadura (Spain)

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Research Keywords & Expertise

0 Energy & the Environment
0 Fiscal Policy
0 consumption behavior
0 Enviromental economics
0 Saving Behavior

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Energy & the Environment

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Short Biography

Agustín García is a professor in the Department of Economics of the University of Extremadura (Spain), having received a PHD from the university in 1996. He obtained a Graduate Degree in Economic Sciences in 1989 from the Universidad Complutense de Madrid, Spain. He was a Visiting Research Fellow at Global Development And Environment Institute (GDAE - Tufts University). Research topics: Private consumption behavior, Fiscal policy, Energy and Environmental Economics, Climate impact and economic valuation.

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Journal article
Published: 15 August 2021 in International Journal of Environmental Research and Public Health
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In Latin American and Caribbean countries, the main concern of public health care managers has been traditionally placed on problems related to funding, payment mechanisms, and equity of access. However, more recently, there is a growing interest in improving the levels of efficiency and reducing costs in the provision of health services. In this paper we focus on measuring the technical efficiency and productivity change of public hospitals in Panama using bootstrapped Malmquist indices, which allows us to assess the statistical significance of changes in productivity, efficiency, and technology. Specifically, we are interested in comparing the performance of hospitals belonging to the two different management schemes coexisting in the country, the Social Security Fund (SSF) and the Ministry of Health (MoH). Our dataset includes data about 22 public hospitals (11 for each model) during the period between 2005 and 2015. The results showed that the productivity growth of hospitals belonging to the SSF has been much higher than that of the hospitals belonging to the Ministry of Health over the evaluated period (almost 4% compared to 1.5%, respectively). The main explanation for these divergences is the superior growth of technological change in the former hospitals, especially in the final years of the evaluated period.

ACS Style

José M. Cordero; Agustín García-García; Enrique Lau-Cortés; Cristina Polo. Efficiency and Productivity Change of Public Hospitals in Panama: Do Management Schemes Matter? International Journal of Environmental Research and Public Health 2021, 18, 8630 .

AMA Style

José M. Cordero, Agustín García-García, Enrique Lau-Cortés, Cristina Polo. Efficiency and Productivity Change of Public Hospitals in Panama: Do Management Schemes Matter? International Journal of Environmental Research and Public Health. 2021; 18 (16):8630.

Chicago/Turabian Style

José M. Cordero; Agustín García-García; Enrique Lau-Cortés; Cristina Polo. 2021. "Efficiency and Productivity Change of Public Hospitals in Panama: Do Management Schemes Matter?" International Journal of Environmental Research and Public Health 18, no. 16: 8630.

Journal article
Published: 07 July 2021 in Forests
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Cities are territories vulnerable to climate change. An alternative to increase resilience and mitigate the effects of the climate context is urban forest planning to increase ecosystem services. This research constructed a forest cover sustainability index, based on 147 semi-structured interviews with residents of four residential areas of the city of Santo Domingo (Gazcue, Zona Colonial, Ciudad Nueva, and San Carlos), in which information was collected based on both benefit perception and tree management in their home and nearby public areas. The socioeconomic characteristics of the population and the information gathered from the measurements of the urban forest in both public and private areas of the city during the 2016–2019 period were considered, including these four residential areas, which established the ecosystem services provided by the urban forest. The results showed that Gazcue had a higher value in the forest cover sustainability index. The factors that influenced this result were: job stability, medium-high income, and property ownership. Likewise, the added value of the territory, whether in terms of tourism or the socioeconomic value of the population that inhabits it, is closely related to a greater attention to urban planning, prioritizing the conservation and landscape harmony that the arboreal component can provide. In conclusion, urban forest planning in cities should consider tree species, the design and structure of spatial arrangements, and a competent legal framework that can meet the challenges of territorial sustainability and contribute to the resilience and mitigation of climate change impacts.

ACS Style

Solhanlle Bonilla-Duarte; Víctor Gómez-Valenzuela; Alma-Liz Vargas-De la Mora; Agustín García-García. Urban Forest Sustainability in Residential Areas in the City of Santo Domingo. Forests 2021, 12, 884 .

AMA Style

Solhanlle Bonilla-Duarte, Víctor Gómez-Valenzuela, Alma-Liz Vargas-De la Mora, Agustín García-García. Urban Forest Sustainability in Residential Areas in the City of Santo Domingo. Forests. 2021; 12 (7):884.

Chicago/Turabian Style

Solhanlle Bonilla-Duarte; Víctor Gómez-Valenzuela; Alma-Liz Vargas-De la Mora; Agustín García-García. 2021. "Urban Forest Sustainability in Residential Areas in the City of Santo Domingo." Forests 12, no. 7: 884.

Article
Published: 06 June 2021 in International Transactions in Operational Research
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In the last decades, there has been a growing interest in measuring the efficiency of hospitals using different methodological approaches, mainly represented by data envelopment analysis (DEA) and stochastic frontier analysis (SFA). In this study, we estimate efficiency measures of performance for a sample of Panamanian public hospitals over an 11-year period (2005–2015) using both traditional methods (DEA and SFA) and compare them with efficiencies estimated with an alternative approach, the so-called StoNED (stochastic semi-nonparametric envelopment of data), which combines the virtues of those methods in a unified framework. One of the most interesting features of the public health system in Panama is that it is segmented, as hospitals are operating under two parallel management schemes (the Ministry of Health and the Social Security Fund), thus in our empirical analysis we will also focus on exploring the differences between hospitals operating under each regime. Our results show that there are certain divergences in the efficiency scores estimated with different methodologies, but for all of them it is possible to detect that Panamanian hospitals experienced a clear decrease in their efficiency levels throughout the period evaluated, being this much higher in the hospitals belonging to the Social Security Fund.

ACS Style

José M. Cordero; Agustín García‐García; Enrique Lau‐Cortés; Cristina Polo. Assessing Panamanian hospitals' performance with alternative frontier methods. International Transactions in Operational Research 2021, 1 .

AMA Style

José M. Cordero, Agustín García‐García, Enrique Lau‐Cortés, Cristina Polo. Assessing Panamanian hospitals' performance with alternative frontier methods. International Transactions in Operational Research. 2021; ():1.

Chicago/Turabian Style

José M. Cordero; Agustín García‐García; Enrique Lau‐Cortés; Cristina Polo. 2021. "Assessing Panamanian hospitals' performance with alternative frontier methods." International Transactions in Operational Research , no. : 1.

Journal article
Published: 30 September 2020 in Entrepreneurship and Sustainability Issues
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Entrepreneurship and Sustainability Issues is a peer-reviewed journal which publishes original research papers and case studies

ACS Style

Agustín García; Miguel A. Jaramillo-Morán. Short-term European Union Allowance price forecasting with artificial neural networks. Entrepreneurship and Sustainability Issues 2020, 8, 261 -275.

AMA Style

Agustín García, Miguel A. Jaramillo-Morán. Short-term European Union Allowance price forecasting with artificial neural networks. Entrepreneurship and Sustainability Issues. 2020; 8 (1):261-275.

Chicago/Turabian Style

Agustín García; Miguel A. Jaramillo-Morán. 2020. "Short-term European Union Allowance price forecasting with artificial neural networks." Entrepreneurship and Sustainability Issues 8, no. 1: 261-275.

Journal article
Published: 04 September 2020 in Sustainability
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This paper presents an evaluation of the economic cost of precipitation shortage in the production of lamb in Extremadura. Given that the production strategy is based on maintaining a productivity target by supplementing natural pastures in contexts of water scarcity, the approach will be based on the analysis of the cost structure of the sector. A monetized cash flow model will be presented, which allows us to evaluate economic impacts through a financial perspective. The study focuses on a set of 1583 farms associated into the cooperative EA Group. These members have a total of 804,000 animals, which represents more than 40% of total sheep in Extremadura. Results shows a relation between precipitation minimums and feed quantity maximums of the series analyzed. Mayor direct impact is represented by an increase in feed supplementation needs, with an economic estimation of 54 million euros over two years for the whole sector. At the farm level, there is an average reduction of profits of 50% in the case of owned land, and bankruptcy in the case of renting land. In the context of data-driven policy making, this estimate provides a tool for European Policy funding negotiation a in sector which is considered as highly strategic because of its positive impacts on the environment, the generation of employment and maintenance of rural populations in marginal areas and for the production of high-quality food with a minimal use of natural resources.

ACS Style

Esteban Thomasz; Ismael Pérez-Franco; Agustín García-García. The Economic Impact of Climate Risk on Extensive Livestock: The Case of Lamb Production in Extremadura, Spain. Sustainability 2020, 12, 7254 .

AMA Style

Esteban Thomasz, Ismael Pérez-Franco, Agustín García-García. The Economic Impact of Climate Risk on Extensive Livestock: The Case of Lamb Production in Extremadura, Spain. Sustainability. 2020; 12 (18):7254.

Chicago/Turabian Style

Esteban Thomasz; Ismael Pérez-Franco; Agustín García-García. 2020. "The Economic Impact of Climate Risk on Extensive Livestock: The Case of Lamb Production in Extremadura, Spain." Sustainability 12, no. 18: 7254.

Research article
Published: 02 June 2020 in Organization & Environment
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The European Union Emissions Trading Scheme (EU ETS) was created in 2005 to price every ton of carbon dioxide emissions. Within this framework, EU carbon dioxide emission allowances can affect electric power industry stock performance. This article uses a multifactor market model and a panel data econometric technique to investigate the long-run impact of EU carbon dioxide emission allowances on the European power sector. We also use panel cointegration to check whether there is a long-run relationship, and fully modified ordinary least square and dynamic ordinary least square to estimate any such relationship. The panel data include a daily sample for the ongoing EU ETS Phase III (from 1 January 2013 until 22 April 2017) and data from six European Union members (Austria, France, Germany, Italy, Netherlands, and Spain). The estimated coefficients suggest that EU allowance prices have a statistically significant and positive long-run effect on the European power sector stock market in EU ETS Phase III. This potentially supports EU efforts to toughen carbon reduction regime targets in order to remove the surplus from the system.

ACS Style

Agustín García; María Teresa García-Álvarez; Blanca Moreno. The Impact of EU Allowance Prices on the Stock Market Indices of the European Power Industries: Evidence From the Ongoing EU ETS Phase III. Organization & Environment 2020, 1 .

AMA Style

Agustín García, María Teresa García-Álvarez, Blanca Moreno. The Impact of EU Allowance Prices on the Stock Market Indices of the European Power Industries: Evidence From the Ongoing EU ETS Phase III. Organization & Environment. 2020; ():1.

Chicago/Turabian Style

Agustín García; María Teresa García-Álvarez; Blanca Moreno. 2020. "The Impact of EU Allowance Prices on the Stock Market Indices of the European Power Industries: Evidence From the Ongoing EU ETS Phase III." Organization & Environment , no. : 1.

Journal article
Published: 20 April 2020 in Sustainability
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In this paper, we analyze the effects of the energy transition process on economic growth in Spain and Portugal, countries that, adhering to European Union (EU) directives, opted to promote clean energies from the very start. On the one hand, we look at the energy transition laws introduced by the EU and other countries. On the other, we conduct a causal analysis of energy consumption and economic growth to confirm whether the change of energy model has generated positive effects on economic growth. The procedure was as follows. First, we conducted an aggregate causality analysis exploring the relationship between growth and energy consumption. As the results were not significant, we repeated the analysis with different disaggregations of renewable energy sources. With respect to solar thermal energy and economic growth, the main conclusion is that the data appear to show a one-way causal relationship for Portugal and EU-26 (European Union without Portugal and Spain) and a two-way relationship for Spain.

ACS Style

Ismael Pérez-Franco; Agustín García-García; Juan J. Maldonado-Briegas. Energy Transition Towards a Greener and More Competitive Economy: The Iberian Case. Sustainability 2020, 12, 3343 .

AMA Style

Ismael Pérez-Franco, Agustín García-García, Juan J. Maldonado-Briegas. Energy Transition Towards a Greener and More Competitive Economy: The Iberian Case. Sustainability. 2020; 12 (8):3343.

Chicago/Turabian Style

Ismael Pérez-Franco; Agustín García-García; Juan J. Maldonado-Briegas. 2020. "Energy Transition Towards a Greener and More Competitive Economy: The Iberian Case." Sustainability 12, no. 8: 3343.

Journal article
Published: 22 November 2019 in Energies
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In this paper, we forecast the price of CO2 emission allowances using an artificial intelligence tool: neural networks. We were able to provide confident predictions of several future prices by processing a set of past data. Different model structures were tested. The influence of subjective economic and political decisions on price evolution leads to complex behavior that is hard to forecast. We analyzed correlations with different economic variables related to the price of CO2 emission allowances and found the behavior of two to be similar: electricity prices and iron and steel prices. They, along with CO2 emission allowance prices, were included in the forecasting model in order to verify whether or not this improved forecasting accuracy. Only slight improvements were observed, which proved to be more significant when their respective time series trends or fluctuations were used instead of the original time series. These results show that there is some sort of link between the three variables, suggesting that the price of CO2 emission allowances is closely related to the time evolution of the price of electricity and that of iron and steel, which are very pollutant industrial sectors. This can be regarded as evidence that the CO2 market is working properly.

ACS Style

Miguel A. Jaramillo-Morán; Agustín García-García. Applying Artificial Neural Networks to Forecast European Union Allowance Prices: The Effect of Information from Pollutant-Related Sectors. Energies 2019, 12, 4439 .

AMA Style

Miguel A. Jaramillo-Morán, Agustín García-García. Applying Artificial Neural Networks to Forecast European Union Allowance Prices: The Effect of Information from Pollutant-Related Sectors. Energies. 2019; 12 (23):4439.

Chicago/Turabian Style

Miguel A. Jaramillo-Morán; Agustín García-García. 2019. "Applying Artificial Neural Networks to Forecast European Union Allowance Prices: The Effect of Information from Pollutant-Related Sectors." Energies 12, no. 23: 4439.

Original articles
Published: 16 March 2007 in International Economic Journal
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The main purpose of this article is to provide empirical evidence for Spain on the dependency relationship between government spending and private consumption at the disaggregated level. To this end, we will use two approaches that extend traditional consumption models, allowing for non-separability of consumers’ preferences between public and private goods and services. The results obtained show significant links between public and private consumption and, in particular, they point towards the importance of carrying out the analysis at the disaggregated level: there is evidence that some components of public and private consumption act as substitutes, whereas others act as complements.

ACS Style

Julián Ramajo; Agustin Garcia; Montserrat Ferré. The Effects of Public Expenditure on Private Consumption: A Disaggregated Analysis for Spain (1970–1997). International Economic Journal 2007, 21, 115 -131.

AMA Style

Julián Ramajo, Agustin Garcia, Montserrat Ferré. The Effects of Public Expenditure on Private Consumption: A Disaggregated Analysis for Spain (1970–1997). International Economic Journal. 2007; 21 (1):115-131.

Chicago/Turabian Style

Julián Ramajo; Agustin Garcia; Montserrat Ferré. 2007. "The Effects of Public Expenditure on Private Consumption: A Disaggregated Analysis for Spain (1970–1997)." International Economic Journal 21, no. 1: 115-131.

Original articles
Published: 01 September 2006 in Applied Financial Economics Letters
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This study analyses some of the empirical determinants of aggregate private saving rates for a panel of 21 OECD countries over the period 1964 to 2001. Among the fiscal determinants considered, there is evidence of an important trade-off between public and private saving and a negative effect of higher current public expenditure on private saving. Among the macroeconomic and financial variables introduced, the income growth rate is the most significant and has a positive effect on private saving. Finally, only a demographic variable, the urbanization rate, has a positive effect on private saving. Interestingly, the sub-sample formed by the G-7 countries shows substantial qualitative and quantitative differences in the determinants of aggregate private saving, particularly a reduction of the effects of the fiscal policy variables.

ACS Style

Julián Ramajo; Agustin Garcia; Montserrat Ferré. Explaining aggregate private saving behaviour: new evidence from a panel of OECD countries. Applied Financial Economics Letters 2006, 2, 311 -315.

AMA Style

Julián Ramajo, Agustin Garcia, Montserrat Ferré. Explaining aggregate private saving behaviour: new evidence from a panel of OECD countries. Applied Financial Economics Letters. 2006; 2 (5):311-315.

Chicago/Turabian Style

Julián Ramajo; Agustin Garcia; Montserrat Ferré. 2006. "Explaining aggregate private saving behaviour: new evidence from a panel of OECD countries." Applied Financial Economics Letters 2, no. 5: 311-315.

Article
Published: 01 May 2005 in Empirical Economics
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In this article we analyse whether the Ricardian equivalence hypothesis is a valid approximation for Spain’s economic reality or whether there exist deviations from that situation which would be more in line with the conventional Keynesian perspective of the effects of debt on private consumption-savings decisions. Our aim is to contribute to the rather sparse empirical literature on the subject for the Spanish case. The analysis is based on annual aggregate data for Spain covering the years 1955 to 2000, and uses both the structural and the Euler equation approaches to test the neutrality proposition, and is thus to be considered as a generalization of foregoing work on the Spanish economy. The findings indicate that support for Ricardian equivalence is mixed, while we also find very little support for the Keynesian specification of consumption and fiscal policy.

ACS Style

Agustín García; Julián Ramajo. Fiscal policy and private consumption behaviour: The Spanish case. Empirical Economics 2005, 30, 115 -135.

AMA Style

Agustín García, Julián Ramajo. Fiscal policy and private consumption behaviour: The Spanish case. Empirical Economics. 2005; 30 (1):115-135.

Chicago/Turabian Style

Agustín García; Julián Ramajo. 2005. "Fiscal policy and private consumption behaviour: The Spanish case." Empirical Economics 30, no. 1: 115-135.

Original articles
Published: 15 September 2004 in Applied Economics Letters
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Evidence, whether international or national, of the significance of the links between budget deficits and interest rates, is in general terms inconclusive. The aim of the present work is to contribute new findings for the Spanish economy using annual data for the period 1964–2000. It is found that budget deficits did not appear to raise long-run nominal interest rates during our sample period.

ACS Style

Agustin Garcia. Budget deficit and interest rates: empirical evidence for Spain. Applied Economics Letters 2004, 11, 715 -718.

AMA Style

Agustin Garcia. Budget deficit and interest rates: empirical evidence for Spain. Applied Economics Letters. 2004; 11 (11):715-718.

Chicago/Turabian Style

Agustin Garcia. 2004. "Budget deficit and interest rates: empirical evidence for Spain." Applied Economics Letters 11, no. 11: 715-718.

Original articles
Published: 01 July 1999 in Applied Economics
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In this paper, empirical evidence on elasticity of intertemporal substitution for Spanish household consumption is shown. Several recent studies have rejected the lifecycle-permanent income hypothesis using aggregate time series. The rejection of the theory has often been blamed on the restrictive assumptions adopted in order to test the hypothesis. This article tests the household behaviour using cohort data from the Spanish Encuesta Continua de Presupuestos Familiares (Continuous Survey of Household Budgets). This source allows us to relax some of the most restrictive assumptions by using data with a certain degree of disaggregation. Evidence of consumer behaviour following the theory is found. Indirect evidence of liquidity constraints is also found and an alternative discount rate designed to be in better accordance with the theoretical foundations of the model is proposed.

ACS Style

Agustin Garcia Garcia. Consumption of Spanish households: evidence from cohort data. Applied Economics 1999, 31, 841 -855.

AMA Style

Agustin Garcia Garcia. Consumption of Spanish households: evidence from cohort data. Applied Economics. 1999; 31 (7):841-855.

Chicago/Turabian Style

Agustin Garcia Garcia. 1999. "Consumption of Spanish households: evidence from cohort data." Applied Economics 31, no. 7: 841-855.

Preprint
Published: 30 August 2021
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. En términos generales, la evidencia disponible tanto al nivel internacional como nacional no es concluyente sobre la significación de la conexión entre déficit público y tipos de interés. Nuestro objetivo es hacer una breve revisión al tratamiento que se le ha dado al problema para arrojar un poco de luz sobre las diferencias observadas en el pasado entre los diversos investigadores. Como objetivo secundario, este trabajo intenta complementar los resultados obtenidos en un trabajo anterior en el que se analizaban los efectos de la política fiscal sobre el consumo privado para el caso español.

ACS Style

Agustín García; Julián Ramajo; Inés Piedraescrita Murillo. Equivalencia Ricardiana Y Tipos De Interés. 2021, 1 .

AMA Style

Agustín García, Julián Ramajo, Inés Piedraescrita Murillo. Equivalencia Ricardiana Y Tipos De Interés. . 2021; ():1.

Chicago/Turabian Style

Agustín García; Julián Ramajo; Inés Piedraescrita Murillo. 2021. "Equivalencia Ricardiana Y Tipos De Interés." , no. : 1.

Preprint
Published: 30 August 2021
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. Este trabajo analiza si la hipótesis de neutralidad de la política fiscal (teorema de equivalencia Ricardiana) puede considerarse como una aproximación válida para la realidad económica española o si, por el contrario, existen desviaciones (y de qué tipo) de dicha situación, lo que estaría más en la línea del enfoque Keynesiano convencional acerca de los efectos de la deuda sobre las decisiones de consumo-ahorro privados. La investigación intenta aportar nueva evidencia sobre la escasa literatura empírica que en España ha considerado esta cuestión. El análisis que se realiza se basa en datos agregados de carácter anual para España que abarcan los años 1955 a 2000, y utiliza tanto el enfoque estructural como el de ecuaciones de Euler para los contrastes de la hipótesis de neutralidad.

ACS Style

Agustín García; Julián Ramajo. Los Efectos De La Política Fiscal Sobre El Consumo Privado: Nueva Evidencia Para El Caso Español. 2021, 1 .

AMA Style

Agustín García, Julián Ramajo. Los Efectos De La Política Fiscal Sobre El Consumo Privado: Nueva Evidencia Para El Caso Español. . 2021; ():1.

Chicago/Turabian Style

Agustín García; Julián Ramajo. 2021. "Los Efectos De La Política Fiscal Sobre El Consumo Privado: Nueva Evidencia Para El Caso Español." , no. : 1.