Purpose - This paper examines the effect of specific macroeconomic variables on tax revenue policy in Oman, as an oil-dependent economy, using annual data from 1991 to 2020. Design/methodology/approach - The autoregressive distributed lag model is used, and its outcomes were verified by numerous...

The output gap is a key guide for economic policymaking and analysis. It is often used to quantify inflationary pressures and thus plays a central role in Danmarks Nationalbank's assessment of the state of the Danish economy. This paper refines Danmarks Nationalbank's existing production...

We investigate the long-run relationship between organized crime and corruption using data from 20 Italian regions over 30 years. As Rose-Ackerman and Palifka (2018) argue, corruption and organized crime often go together. Our study contributes to the literature in several ways in terms of...

This paper provides a critical examination of the empirical basis of the output convergence debate in the light of recent developments in the analysis of dynamic heterogeneous panels with interactive effects. It shows that popular tools such as Barro's cross-country regressions and two-way fixed...

This paper investigates the relationship between corporate income tax rates (CITR) and firm-level productivity growth using AMADEUS data of 304,410 observations from 79,842 European firms from 2006 to 2019. The results imply a robust non-linear relationship: higher CITRs are positively...

We estimate monetary wage returns to academic-track education, Germany’s elite secondary school type granting university entrance. Because academic-track attendance and subsequent university education are institutionally linked, we disentangle their contributions using a causal mediation...

We propose a new approach to estimate selection-corrected quantiles of the gender wage gap. Our method employs instrumental variables that explain variation in the latent variable but, conditional on the latent process, do not directly affect selection. We provide semiparametric identification...

Evidence since the XIX century shows that whereas the demand for M1 is uniformly stable (Benati, Lucas, Nicolini, and Weber, 2021), the demand for broader aggregates is stable under monetary regimes making inflation strongly mean-reverting-such as the Gold Standard and inflation-targeting-but it...

I study price level determination in a currency union when some member countries' government securities earn a convenience yield. These "convenience assets" generate fiscal seigniorage revenues that, given appropriate fiscal and monetary policies, back the union's price level, much like primary...

This paper investigates the long-term economic consequences of childhood nutrition in the Philippines, focusing on the mediating roles of cognitive development and schooling. Using longitudinal data from the Cebu Longitudinal Health and Nutrition Survey (CLHNS), we apply a sequential mediation...

This research aimed to identify existence of a New Keynesian Phillips Curve in Vietnam. The examined period was 2012Q2 - 2025Q2, using secondary macroeconomics data and the Generalised Moments Method at 95% level of confidence. The dependent variables were price inflation and wage inflation,...

This article investigates the dynamic interrelationships between the shadow economy, inflation, and economic growth in 15 countries of the Middle East and North Africa (MENA) region over the period 1991-2017. The study employs a simultaneous equations framework estimated through the Three-Stage...

Forecasts that minimize mean squared forecast error (MSE) often exhibit excessive volatility, limiting their practical applicability. We address this accuracy smoothness trade-off by introducing a Multivariate Smooth Sign Accuracy (M-SSA) framework, which extracts smoothed components from...

The continuous expansion of income disparities poses serious threats to sustainable socioeconomic development. Concurrently, as a key driver of technological advancement, the influence of innovation on shaping income inequality trends has been extensively debated. This study employs panel...

We propose a nonparametric framework for estimating the extremal index that captures the persistence of extreme observations. The framework provides unified and simple procedures for verifying the well-known local dependence condition D(ᵈ) (un), which characterizes the extremal index yet is...

Many instrumental variables applications specify a single Bernoulli treatment. But instruments may change outcomes through multiple pathways or by varying treatment intensity. Lottery instruments that boost charter school enrollment, for instance, may affect outcomes by lengthening time enrolled...

We put forward a Dynamic Regularized Parametric (DRP) approach for active portfolio policies. We build upon the parametric policy framework of Brandt et al. (2009) that directly links the portfolio weights to a limited set of asset characteristics. This yields a parsimonious specification that...

This paper investigates the relationship between corporate income tax rates (CITR) and firm-level productivity growth using AMADEUS data of 304,410 observations from 79,842 European firms from 2006 to 2019. The results imply a robust non-linear relationship: higher CITRs are positively...

How borrowers respond to future changes in the interest rate on their debt matters for the transmission of monetary policy and for household financial stability. Combining bank data, a letter RCT, and a survey, we study this question in the context of the German mortgage market, where since 2022...

This paper introduces Bai-Perron structural break detection combined with negative binomial regression to model overdispersed U.S. IPO count data. Using monthly data from 1995 to 2024, we identify five breaks that partition IPO activity into six distinct regimes, each with fundamentally...

The yield curve is widely regarded as a powerful descriptor of the economy and market expectations. A common approach to its statistical representation relies on a small number of factors summarizing the curve, which can then be used to forecast real economic activity. We argue that optimal...

We investigate the impact of structural shocks on the joint distribution of future real GDP growth and inflation in the euro area. We model the conditional mean of these variables, along with selected financial indicators, using a VAR and perform quantile regressions on the VAR residuals to...