This paper proposes a panel vector error correction model investigation of a quadratic relationship linking CO2 emissions, GDP levels and electric power consumption. We find that two independent long-run relationships emerge from the data. Since the null of homogeneity across units with regard...

This paper studies the dynamics implied by the Chamley (1993) model, a variant of the two-sector model with an implicit characterization of the learning function. We first show that under some “regularity” conditions regarding the learning function, the model has (a) one steady state, (b)...

Results on Schinasi’s (Rev Econ Stud 48:649–653, <CitationRef CitationID="CR12">1981</CitationRef>; J Econ Theory 28:369–375, <CitationRef CitationID="CR13">1982</CitationRef>) variant of the dynamic fixed-price IS–LM model have remained so far confined to Kaldorian type economies, namely to those economies which present a greater-than-unity marginal propensity to spend out...</citationref></citationref>

This paper aims to make a contribution to the still questioned bell-shaped relationship between carbon dioxide emissions and economic growth, which is commonly known in the literature as the Environmental Kuznets Curve hypothesis. In particular, it provides a panel analysis of a group of 82...

This paper aims to make a contribution to the still questioned bell-shaped relationship between carbon dioxide emissions and economic growth, which is commonly known in the literature as the Environmental Kuznets Curve hypothesis. In particular, it provides a panel analysis of a group of 82...

Motivated by the theoretical prediction of the opportunistic behaviour of large banks that face expected public intervention, we test a <italic>full</italic> and a <italic>partial</italic> form of the too-big-to-fail (TBTF) hypothesis. The full form of the hypothesis implies the increase in the risk undertakings <italic>and</italic>...

We combine panel data with SVECM methodologies to assess the role of real shocks in determining price differentials in Italy. The main results can be summarized as follows. At a national level, we find strong evidence of persistent price and productivity misalignments across regions. In...