The question of fiscal sustainability of countries has become one of the central topics in economic policy, especially in times of increasing public debts. One way to assess fiscal sustainability is to examine compliance with the intertemporal budget constraint, which involves testing the...

The IAB employment subsample is now available for researchers in a third, anonymised version. Following the so-called basic file and the regional file from the IAB employment subsample, which encompassed the years 1975 to 1990, the actualized version of the basic file covers now the years 1975...

I extend the Glick and Rogoff (1995) aggregate time-series, empirical, intertemporal model of country-investment (and the current account) to a sectoral-level, and estimate it for New Zealand. I fit the model to panel data of eleven industries from 1988-2009. The sectoral-level investment growth...

Fractional dependent variables and models with state dependence arise in many economic applications. However, estimating models with fractional dependent variables is complicated by the presence of two corner solution outcomes. When coupled with a dynamic panel data setting, estimating...

This paper develops a new methodology that makes use of the factor structure of large dimensional panels to understand the nature of non-stationarity in the data. We refer to it as PANIC - a 'Panel Analysis of Non-stationarity in Idiosyncratic and Common components'. PANIC consists of univariate...

How should researchers design experiments to detect treatment effects with panel data? In this paper, we derive analytical expressions for the variance of panel estimators under non-i.i.d. error structures, which inform power calculations in panel data settings. Using Monte Carlo simulation, we...

e-Business development has become a key factor for the sustainable economic growth and development of any nation in this new era of digital revolution. This is a macro level study based on the hypothesis that the e-business development of a nation can be predicted on the basis of four...

In the present paper it will be shown empirically that more severe regulations (public sector taxation and product market regulations) tend to restrict shadow economy. The sample covers EU, USA and Japan. Data are taken from OECD and (Schneider et al., 2010); (Schneider, 2013). The elaboration...

To enrich the debate about the fiscal effectiveness of sovereign wealth funds, this paper explores the effect of sovereign wealth funds (more precisely sovereign oil funds, SOFs) on the government spending in real term and as a share of GDP. First, we evaluate the relationship between the...