Showing 1 - 10 of 391
The measurement of trade costs and their effects on outcome is at the heart of a large quantitative literature in international economics. The majority of the recent significant contributions on the matter assumes that trade consists of a product of exporter-time-specific factors,...
Persistent link: https://www.econbiz.de/10011168900
It is frequently argued that unemployment plays a crucial role for the occurrence of right-wing extremist crimes. We … unemployment is high. The big difference in right-wing crime between East and West German states can mostly be attributed to … differences in unemployment. This finding reinforces the importance of unemployment as an explanatory factor for right-wing crime …
Persistent link: https://www.econbiz.de/10008528521
This Paper reviews recent econometric work on factor models in large cross-sections of time series. In this literature, traditional factor analysis is adapted to develop parsimonious estimation methods for high dimension time series models. The review covers problems of consistency and rates –...
Persistent link: https://www.econbiz.de/10005498094
We study the issue of income convergence across countries and regions with a Bayesian model which allows us to use information in an efficient and flexible way. We argue that the very slow convergence rates to a common level of per-capita income found, for example, by Barro and Sala-i-Martin, is...
Persistent link: https://www.econbiz.de/10005067447
It has been argued that the public sector is an insurance against otherwise uninsurable risks. If that is the case, it is reasonable to expect the public sector to be larger in regions where the private labour-market is risky. Using data from Swedish municipalities, this paper reports that...
Persistent link: https://www.econbiz.de/10005661977
Recent estimates of convergence equations using panel data techniques tend to produce theoretically unpalatable results which run counter to the views prevailing in the literature. This paper argues that these results may be partly due to the difficulty of empirically separating short-term...
Persistent link: https://www.econbiz.de/10005662387
This Paper studies the interaction between repeated auctions of rail franchises of different lengths, uncertainty, and incentives for investment in rolling stock, following the privatization of British Rail. Theoretical predictions are tested empirically using a unique panel of data. Theory...
Persistent link: https://www.econbiz.de/10005666623
This Paper investigates the empirical relationship between uncertainty and investment dynamics. This is motivated by the real options literature, which suggests a weaker response of investment to demand shocks at higher levels of uncertainty, as firms place a greater value on the option to wait....
Persistent link: https://www.econbiz.de/10005666662
We estimate scale elasticities in firms' money demand using panel data. Our main data set is a sample of Spanish companies observed over 1983-96. We also analyse comparable UK and US data sets. We find that the errors in money demand equations contain two terms correlated with sales: first, a...
Persistent link: https://www.econbiz.de/10005666781
There is a vast empirical literature on the effects of training on wages that are taken as an indirect measure of productivity. This paper is part of a smaller literature on the effects of training on direct measures of industrial productivity. We analyse a panel of British industries between...
Persistent link: https://www.econbiz.de/10005667047