The paper provides empirical evidence on the impact of economic freedom on bank efficiency. By employing the data envelopment analysis (DEA) method, we compute the efficiency of the Indonesian banking sector during the post-Asian financial crisis period of 1999-2008. The empirical findings from...

This paper examines the wood supply from non-industrial private forest owners in Austria. The main novelty of this study is threefold. First, the underlying dataset is based on monthly wood supply. This enables an analysis of seasonal supply behavior, which is found to be different in relation...

China's status as a scientific power, particularly in the emerging area of nanotechnology, has become widely accepted in the global scientific community. The role of knowledge spillover in China's nanotechnology development is generally assumed, albeit without much convincing evidence. Very...

Using data from national socio-economic panel surveys in Australia, Britain and Germany, this paper analyzes the effects of individual preferences and choices on subjective well-being (SWB). It is shown that, in all three countries, preferences and choices relating to life goals/values,...

Central to the conduct of monetary policy are inflation forecasts. Inflation forecasts are not unique. Central banks and professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper estimates inflation forecast disagreement for...

Purpose – Value relevance studies, in particular international comparative studies, use market values sampled at different dates relative to the fiscal year-end. This paper aims to contribute a theoretical and empirical analysis of the relationship between value relevance and the month of...

We study the impact of decentralization on sovereign default risk. Theory predicts that decentralization deteriorates fiscal discipline since subnational governments undertax/overspend, anticipating that, in the case of overindebtedness, the federal government will bail them out. We analyze...