Using a dynamic panel dataset of 150 countries for the period of 2006-2018 and a twostep system GMM estimation model, this paper shows that natural resources have a positive effect on economic development while holding corruption constant. Our findings support the notion that natural resources...

This paper examines the wage implications of temporary migration for two cohorts of Italian Ph.D.s. Special attention is given to the duration of the international experience, its contribution to earned wages and the selectivity of returnees. Returnees are found to be a self-selected group whose...

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...

This study investigates the effect of the annual 'No-Smoking Day' on the stock performance of British American Tobacco (BATS) and Imperial Brands (IMB) from 1997 to 2023. Our findings reveal a significant negative impact of No-Smoking Wednesdays on BATS, with a moderate but statistically...

This study aims to analyze the long-run effects of fiscal consolidation on economic activity in the Economic and Monetary Community of Central Africa (CEMAC), a grouping of six countries (Cameroon, Congo, Gabon, Equatorial Guinea, the Central African Republic, and Chad) forming a monetary union....

We propose a fundamental valuation model for sports clubs and stadia using discounted (adjusted) revenues. We argue that a sports club is a 'quasi firm' that aims to balance budgets, achieve an efficient allocation of financial resources, and maximize revenues. Under this objective the sports...

The recent salience of immigration as an issue among segments of the population in wealthy countries has often been understood as a product of tension between economic interests and cultural preferences. However, such explanations largely ignore differences in power between immigrant and native...

We consider an overlapping generations version of a model suggested by Fargione, Lehmann and Polasky that allows us to show, by means of simulations, that randomness of the rate of return on capital, combined with inheritance of capital and consumption being a concave function of wealth may lead...

This paper examines the wage implications of temporary migration for two cohorts of Italian Ph.D.s. Special attention is given to the duration of the international experience, its contribution to earned wages and the selectivity of returnees. Returnees are found to be a self-selected group whose...

We consider an overlapping generations version of a model suggested by Fargione, Lehmann and Polasky that allows us to show, by means of simulations, that randomness of the rate of return on capital, combined with inheritance of capital and consumption being a concave function of wealth may lead...