This paper provides an empirical application of Lee and Pitt’s (1986) approach to the problem of corner solutions in the case of panel data. This model deals with corner solutions in a manner consistent with the firm behavior theory while controlling for unobserved heterogeneity. In this...

[spa] La demanda de energia de las industrias lecheras : un análisis microeconómico, . por Alain Bousquet, Marc Ivaldi, Norbert Ladoux.. . En este artículo se procede a un análisis empírico de las posibilidades de substitución entre formas de energía para las empresas del sector de las...

The use of GLS to deal with cross-section dependence in panels is not feasible where N is large relative to T since the disturbance covariance matrix is rank deficient. Neither is it the appropriate response if the dependence results from omitted global variables or common shocks correlated with...

This paper analyses wage dynamics at individual level using the ECHP data. We compare yearly wage changes of employees in twelve European countries during the 1994-96 time-period. In all the European countries we find evidence of nominal and not real wage rigidity. At the same time, in none of...