Sustained efforts and investments in different sectors are essential for the overall development of a region. Various studies around the globe underscore the importance of investment in road transport infrastructure in many developing countries to achieve their development targets. The...

When estimating the effects of treatments defined by complex formulas, researchers often use simple functions of exogenous shocks as instruments. A leading example is "simulated instruments" for public policy eligibility, which capture variation in state-level policy generosity. We show how more...

In this paper we study a class of weighted estimands, which we define as parameters that can be expressed as weighted averages of the underlying heterogeneous treatment effects. The popular ordinary least squares (OLS), two-stage least squares (2SLS), and two-way fixed effects (TWFE) estimands...

The Common Agricultural Policy (CAP) is a cornerstone policy of the European Union, increasingly focused on promoting environmentally sustainable practices. In 2014, the CAP introduced Greening payments and a crop diversification requirement to enhance soil resilience and mitigate ecosystem...

This paper introduces Parameter Estimation by Raw Moments (PERM), a flexible method for evaluating a policy's impact on the parameters of an outcome distribution. Such parameters include the variance (E[Y 2 ]−E[Y] 2 ), skewness and covariance of two outcomes. PERM simplifies distributional...

This study rigorously examines the causality between banking development, economic growth, and income inequality using annual panel data for 13 Central Eastern European transition economies from 2000 to 2020. The Granger non-causality test of heterogeneous panels based on the Toda and Yamamoto...

The changing geopolitical situation in the European region has actualized the issues of further EU enlargement. As a result, the relevance of studying many aspects of the functioning economic systems of candidate countries has increased. In this context, the purpose of this article is to...

This study investigates the impact of economic policy uncertainty (EPU) on macro price divergence in China. We use the time-varying parameter vector auto regressive model with latent thresholds (LT-TVP-VAR) to examine the nonlinear causality relationship. Our findings suggest when the EPU rises,...

We study the interaction of education in adolescence and labor force participation around retirement age and its effect on cognitive abilities for individuals in Europe. Besides a direct long-run effect of education, indirect ones may arise, specifically through labor force participation. We...

We investigate a bracketing property that purports to yield upper- and lower bounds on the treatment effects obtained from a fixed effects- and lagged dependent variable model. Referencing both analytical results and a Monte Carlo simulation, we explore the conditions under which the bracketing...

The most widely used textbooks today conflate three distinct population parameters: the population regression function (PRF), the conditional expectation function (CEF), and the causal effect. They also incorrectly suggest, and sometimes state, that the Conditional Mean Zero assumption implies...

In recent years, advanced democracies have witnessed a marked decline in candidates for local government office, undermining electoral competition and accountability and triggering a sheer political recruitment crisis. Although several factors may contribute to this trend — such as generalized...

Greenhouse gas emissions, primarily carbon dioxide (Co₂), influence climate change and have a significant impact on public health. The relationship is a subject of interest to many researchers. However, the situation of Central and Eastern European (CEE) countries is not sufficiently explored...

This study explores the complex relationship between banking sector performance and economic growth in Central and Eastern European (CEE) countries. Given the banking sector’'s prominent role within the CEE financial system, our research examines its potential as a driver of economic growth...

The most widely used textbooks on Introductory Econometrics conflate three distinct population parameters: the population regression function (PRF), the conditional expectation function (CEF), and the causal effect. They also incorrectly suggest, and sometimes state, that the Conditional Mean...

Using time-varying Granger causality, Neural Networks Nonlinear VAR, and Wavelet Coherence analysis, we evidence the unstable effect of the money market rate on industrial production and consumer price index in Tunisia. The effect is asymmetric and depends on geopolitical risk (low versus high)....

Electricity consumption is often regarded as a precondition for economic growth and any bottleneck in its production can severely hurt the growth prospects of an economy more specifically a developing one. Representing a strong case of its value, the causal relationship between energy...

The objective of the current work is to estimate to what extent support measures of the Bank of Russia and the Government of the Russian Federation promoted financial stability of banks and the financial market overall so to sustain lending economy-wide during the crisis periods of 2014, 2020,...

Purpose - the aim of this study is to assess the relationship and influence between the shadow economy and the level of happiness in the Euro area economies of the European Union by highlighting the theoretical assumptions behind the concept and expression of the shadow economy and happiness....

This study analyses the intricate connection between tourism and economic growth, emphasising significant gaps in existing literature. The study utilises a comprehensive framework encompassing tourism-led economic growth (TLEG) and economy-driven tourism growth (EDTG), highlighting the...

This study examines how economic growth, travel, global connection, and changes in population impact the environmental footprint in seven countries, including Russia, the US, China, France, the UK, Pakistan, and India, from 1995 to 2023. The results show a significant link between Granger’s...

We revisit much-investigated relationships between schooling and health, focusing on schooling impacts on cognitive abilities at older ages using the Harmonized Cognition Assessment Protocol in the Health & Retirement Study (HRS) and a bounding approach that requires relatively weak assumptions....

Higher schooling attainment is associated with better cognitive function at older ages, but it remains unclear whether the relationship is causal. We estimate causal effects of schooling on performances on the Consortium to Establish a Registry for Alzheimer's Disease (CERAD) word-recall...

Energy efficiency potentially reduces global carbon emissions, whereas the need of emerging countries to maintain economic growth and development entails a sharp increase in energy consumption. However, to meet this, current energy systems need to be transformed. Several studies find different...

This paper analyses the contribution of the renewable and non-renewable primary energy consumption per capita and the gross fixed capital formation per capita to sustainable economic growth using two models approximated by CES-type functions. Estimates are made by applying the TRANSLOG method....