This paper analyzes the response of the European stock markets to the monetary policy shocks by the European Central Bank using the heteroskedasticity based approach of Rigobon (2003). We find that monetary policy tightening has a heterogeneous impact on the Euro Area sectors on the day the...

type="main" <p>We suggest using information from the state register of personal cars as an alternative indicator of economic inequality in countries with a large share of shadow economy. We illustrate our approach using the Latvian pool of personal cars. Our main finding is that the extent of...</p>

We suggest to use information from the state register of personal cars as an alternative indicator of economic inequality in countries with a large share of shadow economy. We illustrate our approach using the Latvian pool of personal cars. Our main finding is that the extent of household...

This paper examines the effect of campaign contributions on firm performance in Latvia, using a quasi-experiment provided by the 2002 elections. An unanticipated result of the election was that the ‘Latvian Way’, one of the most influential parties, failed to be reelected and was replaced by...

This paper examines the effect of political connections on firm performance. It draws on the universe of all registered firms in Latvia to construct a unique dataset of firms connected to politicians in 1996 to 2005. This paper shows that the effects of connections to politicians vary depending...

This paper sets out to investigate entrepreneurs in Latvia, which is one of the most advanced transition countries, having joined the European Union in 2004. Empirically, the paper draws on results from a representative survey of the Latvian population, based on the method of the Global...

Abstract In this paper, we make multi-step forecasts of the annual growth rates of the real GDP for each of the 16 German Länder simultaneously. We apply dynamic panel models accounting for spatial dependence between regional GDP. We find that both pooling and accounting for spatial effects...