We investigate carbon emission trends among EU Member States by testing the assumption of beta-type convergence for per capita CO2 emissions, conditional upon per capita output and energy use. We find that the emission growth/income relation is strictly negative, indicating that EU-15 countries...

The 2007-2009 financial crisis that evolved from various factors including the housing boom, aggressive lending activity, financial innovation, and increased access to money and capital markets prompted unprecedented U.S. government intervention in the financial sector. We examine changes in...

A well-established empirical literature suggests that individual wages are persistent. Several theoretical arguments support this empirical finding. Yet, the standard approach to the estimation of schooling returns does not account for this fact. This paper investigates the consequences of...

Over recent years, renewable energy sources have emerged as an important component of world energy consumption. Little is however known about the determinants of renewable energy consumption. This article tackles this issue for a global panel consisting of 64 countries over the period 1990-2011...

This paper develops and estimates a model that integrates two fundamental theories of individual health behaviour: the Becker-Murphy model of rational addiction and the Grossman model of health investment. We define an individual's lifetime smoking consumption pattern and investments in health...