In our analysis we discuss several dynamic panel data estimators proposed in the literature and assess their performance in Monte Carlo simulations. It is a well known fact that the natural choice, the least squares dummy variable estimator is biased in the context of dynamic estimation. The...

In our analysis we discuss several dynamic panel data estimators proposed in the literature and assess their performance in Monte Carlo simulations. It is a well known fact that the natural choice, the least squares dummy variable estimator is biased in the context of dynamic estimation. The...

This paper describes interfuel substitution for coal, oil, gas and electricity at a level of 12 activities. We use cross section data in each activity for appliance technologies (heating/cooling, steam generation, industrial processes, motors and lighting/computing) to estimate fuel input demand...

The existing literature on social exclusion among older people, though relatively limited, suggests that disadvantage among the elderly is cumulative in nature. Some aspects of disadvantage starting at early life stages have long-term consequences. As such, older people with disadvantages may be...

Non-spherical errors, namely heteroscedasticity, serial correlation and cross-sectional correlation are commonly present within panel data sets. These can cause significant problems for econometric analyses. The FGLS(Parks) estimator has been demonstrated to produce considerable efficiency gains...

This paper studies the long-run economic effects of severe weather on regional economies. A catastrophic event, such as a hurricane, will have an effect on both the directly impacted region and adjacent regions. With dramatically increasing damage from catastrophic weather events over the past...

The aim of this study is to explore the structure and the dynamics of regional labour markets in terms of gross job and worker flows. The regional turnover rates are related to macroeconomic factors, industry-structure and demographic factors by employing the data of 85 Finnish regions over the...