When testing for cointegration, the asymptotic inference typically in use can be plagued by size distortion due to an inadequate first order approximation. Hence, for practical purposes the inference can be completely misleading and result in false conclusions regarding the presence of long-run...

This paper examines the determinants of overseas R&D by Swedish multinationals. Our empirical results indicate that the location of R&D abroad to a large extent is motivated by the need to adapt products and processes to conditions in the foreign markets where the firms operate. However, we also...

This paper considers nine long Swedish macroeconomic time series whose business cycle properties were discussed by Englund, Persson, and Svensson (1992) using frequency domain techniques. It is found by testing that all but two of the logarithmed and difference series are non-linear. The...

This paper tests the null hypothesis of no horisontal inequity in delivery of health care by use of count data Hurdle models and swedish micro data. It differs from most earlier work in three principal ways: First, the tests are carried out separately for physician and hospital care; second, the...

This paper compares income inequality and income mobility in the Scandinavian countries and the United States during the 1980s. The results demonstrate that inequality is greater in the United states than in the Scandinavian countries and that the ranking of countries with respect to inequality...

This paper examines the stock price reactions to equity private placements and rights issues on the stockholm Stock Exchange and analyzes private placement discounts. The combined results reinforce the preliminary support for Wruck's (1989) monitoring hypothesis and the Hertzel and smith (1993)...

In this paper, a random utility maximization (RUM) model of Swedish seaside recreation is used to estimate the benefits from reduced eutrophication of the seas around Sweden. Sight depth data from around the Swedish coast are used as a quality index related to eutrophication. The model is...

The effect of economic variables on the probability of being absent is studied using panel data for a sample of 1,056 blue collar workers covering day-to-day data for the time period of one year (1991), in all 365,565 observations. Also, the effect of a reform in the sickness insurance on worker...

This paper presents a model of vertical restraints with unobservable contracts in a market where retailers compete in price and service. The equilibrium contracts under the franchise and the resale price maintenance arrangements are shown to differ in the way they lessen competition between...

There has been a revival of interest in small scale industries and their linkages with a nation's institutional arrangements, among both academicians and policy makers. Extending the definition of institutions to include formal and informal rules, this paper attempts to identify these lingages...