Due to the recent financial crisis, the interest in econometric models that allow to incorporate binary variables (such as the occurrence of a crisis) experienced a huge surge. This paper evaluates the performance of the Qual VAR, i.e. a VAR model including a latent variable that governs the...

Due to the recent financial crisis, the interest in econometric models that allow to incorporate binary variables (such as the occurrence of a crisis) experienced a huge surge. This paper evaluates the performance of the Qual VAR, i.e. a VAR model including a latent variable that governs the...

This paper aims to examine whether the shaping of Greece’s sovereign yield spreads in the last two years (1/2010 – 11/2011) under extreme pressure from the financial markets was affected, inter alia, by the statements of political and institutional factors related to the Greek crisis. By...

This paper analyses relevant determinants for the probability to initiate a dispute on policy measures under the World Trade Organization (WTO) Dispute Settlement Mechanism (DSM). The empirical analysis focuses on agrofood related disputes to provide sector specific information on the driving...

The paper analyzes empirically, in Romania’s case, the relationship between economic development (dependent variable) and its political factors (independent variables). The analysis is based on the construction of a linear “Logit Model” and the data set is covering the period 1926- 2007....

We outline a fairly simple method to obtain in Stata Murphy–Topel- corrected variances for a two-step estimation of a heckprobit model with endo- geneity in the main equation. The procedure uses predict’s score option and the powerful matrix tool accum in Stata and builds on previous works...