We propose a methodology to construct tests for the null hypothesis that the pricing errors of a panel of asset returns are jointly equal to zero in a linear factor asset pric- ing model - that is, the null of "zero alpha". We consider, as a leading example, a model with observable, tradable...

According to the IMF, the current public debt makes up nearly 40 percent of the global debt, marking the highest share since the mid-1960s. Despite the vast research on alarming levels of sovereign default, the literature remains inconclusive. This paper investigates macroeconomic, financial,...

Using data from the German Socio-Economic Panel, we provide a comprehensive investigation of the relationship between workplace co-determination in the form of works councils and income satisfaction. Controlling for a wide range of individual, job-related, and firm-level characteristics in OLS...

This short note looks at the link between churning of exporters and dynamics of exports using data from the World Bank Exporter Dynamics Database from 69 countries primarily for the period between 2003 and 2010. In line with Schumpetarian theory of creative destruction we report that a higher...

This article provides evidence for Colombia on the economic consequences of union dissolution, divorce, and the breakup of cohabiting unions, using three waves (2010, 2013, and 2016) of a nationally representative longitudinal survey. We estimate individual fixed‑effects models with...

This paper serves as a comprehensive reference for users of the Swiss Household Energy Demand Survey (SHEDS). SHEDS was conducted annually from 2016 to 2021, followed by two waves in 2023 and 2025; two further waves are scheduled in 2027 and 2029. So far, it provides a panel dataset of eight waves...

This paper examines the impact of fintech adoption and financial inclusion on financial stability in selected countries. Using panel data from 30 countries spanning 2011-2024, the study employs an empirical strategy based on Two-Way Fixed Effects, a dynamic two-step System GMM estimator, and...

This paper focuses on an empirical analysis of the relationship between investing and saving, taking into account various economic regions. The economic aggregates are selected following the International Monetary Fund (IMF) standard classification. The investigation is developed within the...

This paper examines how logistics performance conditions the relationship between trade openness, economic growth and per capita CO₂ emissions in Mediterranean economies. Using an unbalanced panel of 20 countries over the period 2007-2022, we combine static fixed-effects, dynamic panel...

The main purpose of this study is to assess the effect of current public expenditure on education and human capital on economic growth in Central America between 1992 and 2021. In this context, data on education spending and human capital for Guatemala, Honduras, El Salvador, Nicaragua, and...

Does working from home lead to loneliness? If yes, how and for whom? Using a quasi-natural experiment and individual fixedeffects, this study shows that work from home leads to increased worker loneliness. Teleworking not only increases overall loneliness, but it also affects each of the three...

Using a fixed-effects panel threshold regression with Driscoll-Kraay inference, this paper examines how institutional quality shapes the distributional effects of foreign direct investment (FDI) in the ASEAN-5 economies (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) over...

This paper re-examines the role of trade and FDI inflows in accelerating the process of industrial growth involving countries belonging to the "Association of Southeast Asian Nations (ASEAN)" region. Trade openness and foreign direct investment (FDI) have improved the growth performance of...

In emerging markets, stock markets play a crucial role in supporting long-term growth. This study explores the causal relationship between stock market development and economic growth in the Fragile Five countries-Brazil, India, Indonesia, South Africa, and Turkey-covering the period from 2001...

This paper examines the relationship between corruption and foreign direct investment (FDI) inflows in European Union member states using a dynamic panel framework. Using an unbalanced EU panel from 2002 to 2022 and an Arellano-Bond difference-GMM specification, we model inward FDI inflows per...

The World Bank asserts that reducing extreme poverty and achieving shared prosperity are both made possible through financial inclusion. Digital finance may enhance financial stability, thereby supporting more inclusive and sustainable economic growth. Despite its potential benefits, the link...

Performance appraisals are one of the most widely used human resource management practices. This study investigates the relationship between performance appraisals and sleep satisfaction using large-scale, representative data from the German Socio-Economic Panel (GSOEP). Sleep satisfaction is...

Micro, small and medium enterprises (MSMEs) are critical drivers towards the growth of the economy and contribute largely towards poverty eradication and employment. In Kenya, the MSME sector contributes to 40% of GDP, and employs approximately 14.9 million. Yet, this sector continues to...

This paper provides details on the sampling design, the fieldwork, as well as nonresponse and population adjustments for the 2024 sample M10 of the IAB-SOEP-Migration survey. The survey is conducted in cooperation between the Institute for Employment Research (IAB) and the Socio-Economic Panel...

Sample S is the 2024 refreshment sample of the SOEP-Core. We applied a stratified two-stage cluster sampling design to draw a sample of anchor persons from the German population register. The sample adds 5,314 new households to the panel. Potential selectivity in participation is corrected by...

Das Leibniz-Zentrum für Europäische Wirtschaftsforschung (ZEW) erhebt seit 1993 jährlich die Innovationsaktivitäten der deutschen Wirtschaft. Die Erhebung findet im Auftrag des Bundesministeriums für Forschung, Technologie und Raumfahrt (BMFTR) statt und wird in Zusammenarbeit mit dem...

Rising non-performing assets (NPAs) remain a persistent threat to banking stability in emerging economies, including India. This study examines the role of conventional macroeconomic determinants in shaping NPA dynamics using annual panel data from 30 Indian banks over the period 2003-2022....

This paper employs disaggregated panel data to examine the evolution of Thailand's Phillips Curve (PC) before and during the pandemic, providing empirical evidence on the nature of Thai inflation dynamics and their implications for optimal monetary policy formulation. Utilizing the real output...

This study explores the drivers of economic growth in the BRICS economies-Brazil, Russia, India, China, and South Africa-over the period 1994-2024, focusing on the roles of digital infrastructure and financial development. Using a balanced panel, we examine how internet connectivity and access...

Using a panel dataset of 385 European bank-year observations covering the 2012 to 2022 period, this study aimed to investigate the impact of derivatives on bank value and performance. We used bank-level panel data and conducted several multivariate statistical analyses, i.e., ordinary least...

This study utilizes eight waves of the US Health and Retirement Study (HRS) and its "Leave-Behind" module (2006-2020) to explore the extent to which Locus of Control (LoC) influences the uptake of breast and prostate cancer screening. While traditional socioeconomic factors only partially...