Using cointegration techniques, we find that in the US, outward FDI has positive long-run effects on domestic investment. In Germany, this complementary relationship exists only in the short run. In the long run, outward FDI substitutes for German domestic investment.

We find for 14 industrialized countries over the period 1971-2005 that outward FDI has positive long-run effects on domestic output. Our results suggest that increased outward FDI is both a cause and a consequence of increased domestic output.

This study employs state-level panel data to examine the effect of income inequality on crime in the United States. Using panel cointegration techniques, we find a significant negative effect of inequality on crime.

We suggest to use car sale prices from internet advertisements for measuring economic inequality between and within German regions. Our estimates of regional income levels and Gini indices based on advertisements are highly positively correlated with the official figures.

This paper shows that the ECB's monetary policy has a heterogeneous impact on the sectoral stock market indexes in the Euro Area. We show that the heteroskedasticity based approach of Rigobon (2003) should be preferred to the event study approach.