This paper studies estimation of panel cointegration models with cross-sectional dependence generated by unobserved global stochastic trends. The standard least squares estimator is, in general, inconsistent owing to the spuriousness induced by the unobservabla I(1) trends. We propose two...

This paper studies the performance of panel unit root tests when spatial effects are present that account for cross-section correlation. Monte Carlo simulations show that there can be considerable size distortions in panel unit root tests when the true specification exhibits spatial error...

A new gender wage gap decomposition methodology is introduced that does not suffer from the identification problem caused by unobserved non-discriminatory wage structure. The methodology is used to measure the relative size of Korean gender wage gaps from 1994 to 2000 across industries,...

This paper considers the problem of prediction in a panel data regression model with spatial autocorrelation in the context of a simple demand equation for liquor. This is based on a panel of 43 states over the period 1965-1994. The spatial autocorrelation due to neighboring states and the...

This paper analyses recent, current and potential future relations between policy processes and substantive outcomes in UK low carbon innovation policy. It examines the development of policy processes relating to the adoption and implementation of the Renewables Obligation and how these may...

Recent developments in national and European Union waste management policy have prompted considerable interest into alternative waste management programmes, which could divert a portion of the municipal solid waste stream from landfills. One such alternative is recycling of household waste. This...

The milpa is a traditional intercropping system of maize, bean, and squash. Milpas are repositories of agrobiodiversity in México, not only rich in inter- and infra-crop species diversity, but also in landraces of maize, which are building blocks for future improvements in this globally...

While economic and contractual incentives encourage firms to respond to environmental issues, additional contributing factors also provide incentives for them to deal with corporate environmental issues. That is, formal regulation (government monitoring and enforcement) can promote firms’...

In this paper we try to make clear that the original utilitarian economic thought of J. S. Mill, which was like a headwater, ran to Cambridge University, after which his followers could tackle environmental problems of their days from an economic point of view (1). First of all we refer to the...