Percorrer por autor "Rebelo, Francisco"
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- AgroForest biomass and circular bioeconomy: case studiesPublication . Leitão, Alexandra; Rebelo, Francisco; Pintado, Manuela; Ribeiro, Tânia BragançaThe agroforest sector plays a leading role as a biomass supplier to obtain bio-based products that allowed an acceleration in the circular bioeconomy transition. This chapter applied a mixed-methods review to identify new attractive bio-based products and to evaluate its market potential in Portugal. Forest biomass was identified as an excellent raw material for (1) low-carbon building materials, (2) biotextiles, and (3) bioplastics. The potential of agro-food waste to obtain new bio-based materials was also emphasised. The new bioproducts identified have high potential and attractive markets. It was estimated that a 5% market share of these bioproducts in the global construction, textiles, and plastics markets in 2030 corresponds to an aggregate increase in revenues of 260-579 million € per year in Portugal. The environmental sustainability implications arising from the diffusion of these new biomaterials are also highlighted, focusing on the decarbonisation of the economy.
- Export variety, technological content and economic performance: the case of PortugalPublication . Rebelo, Francisco; Silva, Ester G.Although the analysis of the relationship between international trade and economic growth has a longstanding tradition in economic literature, the link between export variety and economic growth remains a relatively unexplored topic of research. Recently, a few studies have approached this matter, adopting a neo-Schumpeterian framework. In line with this general frame of analysis, this article intends to explore the impact of export variety on economic growth, interrelating variety with technological upgrading. Cointegration econometric results based on the Portuguese experience over the past four decades (1967–2010) show that greater related variety has led to a significant boost in growth, but only in the case of technologically advanced sectors. The impact of export variety on economic performance seems, therefore, to be conditioned by the technological intensity of the products involved.
- Normalizing VES production functions: extending the supply-side system approachPublication . Río, Fernando del; Rebelo, FranciscoThis paper extends the Klump et al. (2007) normalization procedure to Variable Elasticity of Substitution (VES) production functions. Normalization addresses identification issues in VES model estimation, allowing joint estimation of substitution elasticities and factor-augmenting technical change, while offering a tractable extension of the normalized supply-side system that bridges the gap between CES and more flexible VES specifications.
- OECD labour share trends: factor efficiency vs. market distortions in a neoclassical frameworkPublication . Rio, Fernando del; Rebelo, FranciscoWe find that, for the vast majority of the 29 OECD countries, capital efficiency has declined, while labour efficiency has increased. Moreover, capital and labour exhibit a relatively high degree of complementarity. On average, countries with a larger relative decline in capital efficiency have also experienced a greater decline in the labour share. This pattern is consistent with the neoclassical theory of functional income distribution: if capital and labour are gross complements, a decline in the relative efficiency of capital reduces the demand for labour, thereby lowering equilibrium wages and the labour share. In some countries — including the United States, the United Kingdom and Australia — this mechanism can accurately account for much of the observed evolution in the labour share, while in others — including the three largest European economies (Germany, France and Italy) — market frictions and distortions affecting labour demand have played a more prominent role. Policies aimed at halting the decline in capital efficiency, or mitigating market frictions and distortions, can therefore enhance productivity and support wage growth.