Recent empirical research indicates that certain types of emissions follow an inverted-U or Environmental Kuznets Curve (EKC) as income grows. This regularity has been interpreted as a possible de-linking of economic growth and patterns of certain pollutants for developed economies. In this...

The economic literature has largely ignored the existence of global common factors and local spatial dependence in the assessment of the real effects of U.S. banking deregulation. Motivated by consistency concerns, this study uses spatial econometric models with common factors to analyze the...

We show empirically that there is no relation between funding of pensions and economic growth in a sample of OECD- as well as non-OECD countries over the period 2001-2008. This finding contradicts findings of earlier studies, which do not control for capital market returns of pension funds. Our...

This study investigates the effects of banking deregulation on county-level economic growth in the U.S. during the 1970–2000 period. Our main contribution to the literature is that we analyze both the direct and external effects of banking deregulation on local economic growth. For the regions...

We use a multi-region model and provide the first theoretical analysis of the effects of human capital use and a particular kind of innovative activity on economic growth. In each of the N heterogeneous regions in our model, consumers have constant relative risk aversion preferences, there are...