We estimate a gravity model that incorporates the extensive margin of trade and accounts for firm heterogeneity to evaluate the effect of the EU-accession on CEECs trade in intermediates and final goods for the period 1999-2009. The importance of production networks is captured by including...

This paper evaluates the impact of free trade agreements (FTAs) on carbon dioxide emissions convergence for a cross-section of 182 countries over the period 1980 to 2008, paying particular attention to Mediterranean and European Union countries. In order to overcome the endogeneity problem of...

In this paper, we analyze the spatial distribution of economic activity and labor market variables in Greece from 1980 to 2006. Using a distance-based method within a stochastic point process, we identify two periods with opposite trends regarding the concentration of economic activity in the...

Basel III is a recently-agreed regulatory standard for bank capital adequacy with focus on the macroprudential dimension of banking regulation, i.e., the system-wide implications of banks' lending and risk. An important Basel III provision is to reduce procyclicality of present banking...

Since the start of the financial crisis in 2007, the debate on the proper level leverage of financial institutions has been flourishing. The paper addresses such crucial issue within the Eurace arti?cial economy, by considering the effects that different choices of capital adequacy ratios for...

We adopt a structural approach to studying the effects of public transfers on consumption smoothing, risk sharing and welfare in small village economies. We calibrate the key parameters of a dynamic limited commitment model using data gathered as part of the Mexican Progresa program, and take...

This paper re-examines CO2 emissions in 22 OECD countries over the period 1870–2006. It contributes to the field of environmental economics trying to clarify the possible sources of the mixed evidence on CO2 emissions convergence. To this end we employ a detailed methodological strategy. First...

Power law behavior has been recognized to be a pervasive feature of many phenomena in natural and social sciences. While immense research efforts have been devoted to the analysis of behavioral mechanisms responsible for the ubiquity of power-law scaling, the strong theoretical foundation of...

A new panel method is applied to the case of Chinese provinces to analyze the existence of club convergence in terms of per capita income, labor productivity, capital intensity, and total factor productivity from 1952 to 2008. The advantage of this approach is that it takes into account the...