It is well known that a unit tax on the emissions of polluting firms and an equal unit subsidy for emissions abated are not symmetrical instruments. However, when no entry-exit conditions are at stake, as in the case of polluting households, the tax and subsidy are equivalent. Moreover, any...

Estimation of a structural economic growth equation using data for 26 sub-Saharan African countries over the years 1974-92 reveals positive growth effects of membership in the French African Community (CFA) zone stemming from an enhanced productivity of investment. However, these effects appear...

This paper fills an existing gap in the international trade literature by empirically modelling consumer attitudes regarding trade liberalization efforts. Data are taken from the policy response section of a monthly consumer confidence survey, with estimation accomplished using a trinomial logit...

When Gini coefficients are decomposed by class (e.g. occupation, sex, region, and so on, it is possible to examine how income inequality can be measured by its class components: intra-class, inter-class and overlapped. In the literature, there have been many studies on the decomposition...

This note reports the results of a computer simulation exercise with two commonly used indices of structural change: the Michaely/Stoikov index and the Lilien index. The performance of the indicators in measuring structural change is compared. The base data used in the simulations are employment...

This paper performs unit root tests using panel data to investigate empirically stock price efficiency of the Athens stock market. Our Wald test statistics reject the random walk hypothesis for stock prices, which is a necessary condition for market efficiency.

Impact of cholesterol information and demographic variables on egg consumption is examined using data from a consumer survey conducted by the United States Department of Agriculture (USDA). Estimation results of a double-hurdle model suggest that information and health concerns about cholesterol...

Recent findings of non-linearities in the returns to education are cited as evidence of sheepskin effects, but evidence from Guatemala suggests otherwise. While non-linearities in the returns to education exist, it is argued that they are associated with 'threshold' levels.

We use a residual-based cointegration test suggested by Gregory and Hansen that allows for the determination of a structural break in the cointegration vector to test for the sustainability of Greek fiscal deficits over the 1958-92 period. This relatively recent test leads to a different result...