In this paper we argue that univariate mixed models are not appropriate in measuring unobserved heterogeneity in studying IPOs survival in the aftermarket. We extend the methodology used up to now by developing a random effects model to account for heterogeneity among industries. Our results...

Manufacturing price markup equations are estimated for 15 OECD countries using annual data. Firms have CES production technology. The markup depends on demand, competitors' prices and uncertainty. Cointegration is tested with the Pedroni tests and a panel version of the Johansen test, and...

The aim of this study is to investigate whether the level of financial development can make a significant contribution to the Foreign Direct Investment¡¯s (FDI) positive impact on economic growth. In other words, to examine whether the contribution of FDI on growth is relatively more important...

This paper investigates the long-run relationship between trade unionism and productivity using a panel data set comprising of 18 OECD economies. Much of the existing evidence on this issue derives from micro-economic studies, with limited attention paid to long-run dynamics and economy-wide...

This paper studies the interactions between uncertainty, investment and economic growth. Utilizing panel data for a sample of 59 industrial and developing countries between 1966 and 1992, we estimate reduced form equations to explore the possible effects of uncertainty on economic growth and...

The purpose of this paper is to examine the impact of terrorism on tourism demand in Greece using monthly data from 1977 to 2012. We investigate whether this relationship is bidirectional and whether it exhibits long run persistence. Thus, we employ a large dataset of terrorist incidents and...