We investigate the long-run relationship between organized crime and corruption using data from 20 Italian regions over 30 years. As Rose-Ackerman and Palifka (2018) argue, corruption and organized crime often go together. Our study contributes to the literature in several ways in terms of...

In the German pharmacy market, strictly regulated prescription (Rx) drug prices coexist with free pricing for over-the-counter (OTC) drugs. This paper investigates the extent of market power in the non-prescription segment (OTC drugs and non-pharmaceuticals) and explores the role of Rx drugs in...

This paper uses fractional integration and cointegration methods to examine the persistence and long-run relationship between the S&P 500 index and the nominal yield to maturity of 10-year US Treasury bonds (GS10) over the period from January 1954 to December 2024. The results indicate that both...

This paper investigates the short and long-run effects of the inter-governmental redistribution of property tax on housing supply. For the short-run analysis, we leverage a property tax policy reform as an exogenous shock and use propensity score matching DID to establish the causal linkage...

This paper investigates the drivers of foreign exchange implied volatility in Central and Eastern European (CEE) countries. Currencies in non-euro EU countries are particularly sensitive to changes in market sentiment. Risk aversion significantly impacts the implied volatility surface for FX...

This study enhances macroeconometric modelling by utilising an I(2) cointegration framework to analyse the dynamic link between tourism prices and inflation in Slovenia and the Eurozone. Using monthly data from 2000 to 2017, we estimate cointegrated VAR models that capture long-run equilibria,...