By examining the impact of capital regulation on bank risk-taking using a local estimation technique, we are able to quantify the heterogeneous response of banks towards this type of regulation in banking sectors of western-type economies. Subsequently, using this information on the bank-level...

The paper investigates the empirical association between inflation and productivity in 15 European countries over the period 1960--97. Modern econometric techniques based on integration and cointegra-- tion analysis are used to test for the existence of a long--run relationship between inflation...

The paper reassesses the empirical evidence for Thirlwall's law in seven industrial countries by using panel unit root and panel cointegration tests including Johansen maximum likelihood cointegration tests. Current practice restricts attention to time series residual based cointegration tests,...

The paper examines the convergence properties of productivity in fifteen European countries over the period 1960-1997. European productivity is estimated using modified translog production systems with a completely general intertemporal structure. To capture the notion that trade may have an...

This article investigates the business cycles of Eurozone economies. We detect static and dynamic relationships between cyclical components of output, arising through the use of different filtering methods. This is achieved using for the first, correlations, and for the second, the...

This article investigates the stylized facts of money and credit over the business cycles in nine Organization for Economic Cooperation and Development (OECD) countries using quarterly data from 1960 to 2006, through the application of two main detrending methods. Our findings confirm the...

The aim of the paper is to explain the role that technical efficiency and foreign spillover effects have on firm survival. Panel data from Greek manufacturing industry (3142 firms) in 1997-2003 are used. Technical efficiency is estimated through a CES translog production function. A hazard...

In this article, we consider the estimation of semiparametric panel data smooth coefficient models. We propose a class of local generalized method of moments (LGMM) estimators that are simple and easy to implement in practice. We show that the proposed LGMM estimators are consistent and...