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The Political Economy of Financial Systems : Evidence from Suffrage Reforms in the Last Two Centuries

Degryse, Hans; Lambert, T.; Schwienbacher, A. - Tilburg University, Center for Economic Research - 2013

Abstract: Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the...

Persistent link: https://www.econbiz.de/10011091017

Separations at the Firm Level

van Ours, Jan; Gautier, P.A.; van den Berg, G.; Ridder, G. - Tilburg University, Center for Economic Research - 1999

-off policy of firms can explain the relatively high level of unemployment amongst lower educated workers and the relatively … strong sensitivity of their unemployment rate to the business cycle. We find that lay-off rates decrease with education but … with a higher level of education can not explain the stronger cyclicality of the unemployment rate for lower educated …

Persistent link: https://www.econbiz.de/10011090392

Central Bank Reform, Liberalization and Inflation in Transition Economies : An International Perspective

Cukierman, A.; Miller, G.P.; Neyapti, B. - Tilburg University, Center for Economic Research - 2000

This paper develops extensive new data on the legal independence of new central banks in 26 former socialist economies (FSE).This data is constructed using the codification system for measuring legal independence developed in Cukierman, Webb and Neyapti (1992) and in chapter 19 of Cukierman...

Persistent link: https://www.econbiz.de/10011091664

Economic Freedom and Life Satisfaction : A Cross Country Analysis

Graafland, Johan; Compen, B. - Tilburg University, Center for Economic Research - 2012

Abstract: This paper estimates the relationship between various sub-indicators of economic freedom and life satisfaction for 122 countries. The estimation results show that life satisfaction is positively related to the quality of the legal system and protection of property rights. For poor...

Persistent link: https://www.econbiz.de/10011092452

Social Capital, Institutions and Trust

Nooteboom, B. - Tilburg University, Center for Economic Research - 2006

This paper analyzes the relations between social capital, institutions and trust.These concepts are full of ambiguity and confusion.This paper attempts to dissolve some of the confusion, by distinguishing trust and control, and analyzing institutional and relational conditions of trust.It...

Persistent link: https://www.econbiz.de/10011092754

GMM Estimation of Fixed Effects Dynamic Panel Data Models with Spatial Lag and Spatial Errors (Replaced by CentER DP 2015-003)

Cizek, Pavel; Jacobs, J.P.A.M.; Ligthart, J.E.; Vrijburg, H. - Tilburg University, Center for Economic Research - 2011

We extend the three-step generalized methods of moments (GMM) approach of Kapoor et al. (2007), which corrects for spatially correlated errors in static panel data models, by introducing a spatial lag and a one-period lag of the dependent variable as additional explanatory variables. Combining...

Persistent link: https://www.econbiz.de/10011124438

Robust Estimation and Moment Selection in Dynamic Fixed-effects Panel Data Models

Cizek, Pavel; Aquaro, M. - Tilburg University, Center for Economic Research - 2015

This paper extends an existing outlier-robust estimator of linear dynamic panel data models with fixed effects, which is based on the median ratio of two consecutive pairs of first-differenced data. To improve its precision and robust properties, a general procedure based on many pairwise...

Persistent link: https://www.econbiz.de/10011124439

Estimating Dynamic Models from Repeated Cross-Sections

Verbeek, M.J.C.M.; Vella, F. - Tilburg University, Center for Economic Research - 2000

A major attraction of panel data is the ability to estimate dynamic models on an individual level. Moffitt (1993) and Collado (1998) have argued that such models can also be identified from repeated cross-section data. In this paper we reconsider this issue. We review the identification...

Persistent link: https://www.econbiz.de/10011090312

Two-step estimation of simultaneous equation panel data models with censored endogenous variables

Vella, F.; Verbeek, M.J.C.M. - Tilburg University, Center for Economic Research - 1994

This paper presents some two-step estimators for a wide range of parametric panel data models with censored endogenous variables and sample selection bias. Our approach is to derive estimates of the unobserved heterogeneity responsible for the endogeneity/selection bias to include as additional...

Persistent link: https://www.econbiz.de/10011090331

Dynamic Panel Data Models Featuring Endogenous Interaction and Spatially Correlated Errors

Jacobs, J.P.A.M.; Ligthart, J.E.; Vrijburg, H. - Tilburg University, Center for Economic Research - 2009

We extend the three-step generalized methods of moments (GMM) approach of Kapoor, Kelejian, and Prucha (2007), which corrects for spatially correlated errors in static panel data models, by introducing a spatial lag and a one-period lag of the dependent variable as additional explanatory...

Persistent link: https://www.econbiz.de/10011090432

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