We focus on the dynamic relation between wage increases, promotions and job changes. We relate our empirical analyses to the theoretical model of Gibbons and Waldman (1999). In the empirical analyses we use the Portuguese matched employer-employee data Quadros de Pessoal. We conclude from...

Abstract The paper shows how - using as an example the trade flows between eleven European countries and 31 OECD `reporting' countries - the result of a gravity model, in terms of potential trade, changes substantially when country heterogeneity and dynamics are taken into account. Comparing the...

Defence expenditures have both costs and benefits to the economy. The costs of defence expenditures are mainly emphasized as opportunity costs. On the other hand, defence spending may have growth-promoting potential benefits: a rise in defence spending may result in a higher aggregate demand,...

This paper estimates the elasticity of substitution of an aggregate production function. The estimating equation is derived from the steady state of a neoclassical growth model. The data comes from the PWT in which different countries face different relative prices of the investment good and...

This paper proposes a new variable based on patent data to proxy for productive entrepreneurship. Data on self-employment is used as an alternative proxy. In particular, the paper studies the impact of entrepreneurship on economic growth by using these two measures. The study considers 22 OECD...

This study gives some issues regarding the relationship between inflation and the financial sector performance for some MENA region countries. The negative association is confirmed through the estimation of a dynamic panel model using the GMM methodology. Moreover, a threshold effect must be...

The paper shows how - using as an example the trade flows between eleven European countries and 31 OECD `reporting' countries - the result of a gravity model, in terms of potential trade, changes substantially when country heterogeneity and dynamics are taken into account. Comparing the...