This paper proposes Lagrange multiplier (LM) based tests for the null hypothesis of no cointegration in panel data. The tests are general enough to allow for heteroskedastic and serially correlated errors, individual specific time trends, and a single structural break in both the intercept and...

In this paper we develop a simple maximum likelihood estimator for probit models where the regressors have measurement error. We first assume precise information about the reliability ratios (or, equivalently, the proxy correlations) of the regressors. We then show how reasonable bounds for the...

Since the beginning of the 1990's, sick leave benefits accruing from the tax-financed Swedish social security insurance have been reduced a number of times. In this paper we use data from the survey on the Household Market and Non-market activities to estimate a fixed effects negative binomial...

Die Neue Institutionenökonomik stellt ergänzend zur Neoklassik die Kosten von Transaktionen in den Mittelpunkt. Dabei wird das Hauptaugenmerk auf die Institutionen gerichtet, die das menschliche Handeln beeinflussen. Welche Entwicklung nahm die Institutionenökonomik? Wo steht sie heute?

The central question will be, whether ALMPs are actually in line with the transition aim of struc-tural adjustment. Due to a lack of consistent micro-level data, theoretical considerations will be an important supplement for evaluating the Chinese concept. In order to illuminate the quantitative...

Die folgende Untersuchung wird sowohl die politisches als auch ökonomische Argumentationsebene berücksichtigen und als analytischen Rahmen verwenden. Zur Klärung der Hintergründe des chinesischamerikanischen Konflikts werden zunächst die politischen und ökonomischen Interessen der VR China...

This paper provides the first comparative analysis of different types of publicly owned banks operating in China between 1997 and 2008. Using principal component analysis and Granger-causality tests, this study shows that China's state-owned commercial banks and rural credit cooperatives did not...