We address the issue of estimation and inference in dependent nonstationary panels of small cross-section dimensions. The main conclusion is that the best results are obtained applying bootstrap inference to single-equation estimators. SUR estimators perform badly, or are even unfeasible, when...

We propose a framework for causal inference using factor models. We base our identification strategy on the assumption that policy interventions cause structural breaks in the factor loadings for the treated units. The method allows heterogeneous trends and is easy to implement. We compare our...

The Common Correlated Effects (CCE) approach by Pesaran2006 is a popular method for estimating panel data models with interactive effects. Due to its simplicity, i.e. unobserved common factors are approximated with cross-section averages of the observables, the estimator is highly flexible and...

The paper delves into the intricate relationship between economic growth, tourism arrivals, and climate change, focusing specifically on the European economy over the period 1990-2019 using panel data analysis. The empirical framework examines the interplay between these variables and sheds...

Remittance flows to developing countries are now triple official development assistance and larger than foreign direct investment. The surge in remittances now occupies important position in development equation as remittances are seen as cheap resources for development. African governments are...

This study aims to investigate the impact of CO2 emissions, domestic investment, and trade openness on economic growth in North African countries over the period 1998 to 2022. Utilizing a panel static gravity model, the results reveal that domestic investment exerts a negative influence on...

Serbian: U radu se razmatra adekvatnost korišćenja vremenskih serija u stalnim cenama iz neke, „bazne”, godine kao „realnih” izraza odgovarajućih (ekonomskih) agregata. Teorijskom analizom pokazano je da na veličine ovih serija utiče ostvarena cenovna struktura iz date godine, što...

We analyse the evolution of German Trade and FDI activity within the EU27 using a simultaneous equation gravity approach for imports, exports, in- and outward FDI stocks based on German regional data (NUTS1-level) for 1993-2005. Our approach seeks to explore the main long-run driving forces of...

In this study, a panel vector autoregressive (PVAR) model with system generalized method of moments (GMM) estimation is utilized to examine the dynamic causalities among economic growth, healthcare expenditure, and CO2 emissions in Asia-Pacific countries from 2000 to 2019. Results show that...

In this study, a panel vector autoregressive (PVAR) model with system generalized method of moments (GMM) estimation is utilized to examine the dynamic causalities among economic growth, healthcare expenditure, and CO2 emissions in Asia-Pacific countries from 2000 to 2019. Results show that...