What determines the risk structure of financial portfolios of German households? In this paper we estimate the determinants of the share of financial wealth invested in three broad risk classes. We employ a new econometric approach - the so called fractional multinomial logit model - which...

This paper proposes a simpleprocedure based on Meta-analysisto test Granger causality relationship betweenvariables in heterogeneous mixed panels.We evaluate the finite sample properties of the causality test based on Meta-analysisthrough Monte Carlo experiments for panels characterized by both...

This article empirically examines the impact of external debt on economic growth in emerging economies from 1990 to 2022, considering the effects of globalization. Using a deductive methodology that combines a comprehensive literature review with econometric analysis, particularly a...

We investigate the factors underlying poverty transitions in Nairobi’s slums focusing on whether differences in characteristics make some individuals more prone to enter poverty and persist in, or whether past experience of poverty matters on future poverty situations. Answers to these issues...

In applied microeconometric panel data analyses, time-constant random effects and first-order Markov chains are the most prevalent structures to account for intertemporal correlations in limited dependent variable models. An example from health economics shows that the addition of a simple...

A concern when estimating the effect of health on labour supply is that health might be endogenous, and in particular that people might use poor health to justify non-participation. This would result in the effect of health being overestimated if health were treated as exogenous. The paper...

In this paper we discuss tests for residual cross section dependence in nonlinear panel data models. The tests are based on average pair-wise residual correlation coefficients. In nonlinear models, the definition of the residual is ambiguous and we consider two approaches: deviations of the...

The paper investigates the links between homeownership, employment and earnings for which no consensus exists in the literature. Our analysis is cast within a dynamic setting and the endogeneity of each outcome is assessed through the estimation of a flexible panel multivariate model with random...

Using panel firm-level data, this paper analyses the main factors affecting firms' access to bank credit in eleven Euro Area countries over the period 2014-2016. We focus on firm's loan demand behaviour and on bank's actual credit granting decision, using alternative measures of credit...

The purpose of this paper is to present two different approaches of financial distress pre-warning models appropriate for risk supervisors, investors and policy makers. We examine a sample of the financial institutions and electronic companies of Taiwan Security Exchange (TSE) market from 2002...