We estimate the euro effect on export patterns using a panel of industry data from Ireland over the period 1993-2004. Our main innovation is to account for country and industry specific omitted trending variables bias. We find that the euro effect on Irish exports to the euro area countries...

Debt sustainability is a vexing issue. Its importance is immediately obvious but it escapes any easy definition. This situation is not unheard of in economics; price stability and full employment are examples of other crucially important policy objectives that cannot be simply defined. Yet,...

Relying on a comprehensive dataset including detailed information on all patent applications filed to the EPO from 1980 to 2000 and on the renewal of those of them that were granted, this paper presents the first survival time analysis of the determinants of patent length. The results are...

This paper assesses the non linear impact of external debt on growth using panel data for 93 developing countries. The estimates support a non-linear, hump-shaped, relationship between debt and growth, especially when the debt burden is measured relative to GDP. For a country with average...

This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions (measured in relation to GDP) of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks...

This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the theoretical arguments that may link the adoption of...

I find here that the early and mid 2000s (2001 to 2007) witnessed both exploding debt and a consequent middle class squeeze. Median wealth grew briskly in the late 1990s and even faster in the 2000s. The inequality of net worth was up slightly during the 2000s. Indebtedness, which fell...

This paper revisits the relationship between health and growth in light of modern endogenous growth theory. We propose a unified framework that encompasses the growth effects of both the rate of improvement of health and the level of health. Based on cross-country regressions over the period...

This paper explores the impact of trade openness on the economic growth of Brazilian states according to their initial income level. This empirical study covers 26 Brazilian states over the period 1989-2002. Growth rates of Brazilian states are modeled as dependent on international trade flows...

To what extent are new and/or innovative firms fundamentally different from established firms, and therefore require a different form of financing? The theoretical background for this proposition is presented, and the empirical evidence on its importance is reviewed. Owing to the intangible...