In this paper we show that highly skilled illegal migrants may be more likely to return home than migrants with low or no skills when illegality causes "skill waste," i.e. reduced ability of making use of individual capabilities both in the labor and the financial markets. This result is in...

In this paper we consider three alternative approaches to test the Permanent Income Hypothesis (PIH) in the context of dynamic panels: the aggregate consumption approach, the Euler equation approach and Þnally Friedman (1957)'s original characteristic tests. Our empirical evidence, using the...

We employ a two-step approach in investigating the dynamic transmission channels under which globalization factors foster technical efficiency by combining a dynamic efficiency analysis in the stochastic frontier framework, and a time series approach based on VAR and spectral analysis. Using the...

Recently, Mastromarco, Serlenga and Shin (2010) propose a two-step approach to examine dynamic transmission mechanism under which globalization factors foster technology efficiency. In this paper, we extend the MSS model by combining panel threshold regression technique advanced by Hansen...