Similar Search Results

Rey, Sergio J.; Janikas, Mark V. - EconWPA - 2003

The study of regional income convergence continues to attract enormous attention. Recent emphasis has been placed on … a comprehensive overview of empirical studies of regional convergence and divergence, summarizing the existing body of …

Persistent link: https://www.econbiz.de/10005118991

Spatial Clustering, Inequality and Income Convergence

Janikas, Mark V.; Rey, Sergio J. - EconWPA - 2005

This paper examines the relationship between spatial clustering and inequality at the county scale with overall state per capita income in the U.S. over the period 1969-2000. For each of the 48 coterminous states we examine measures of inequality and spatial clustering and explore how a state's...

Persistent link: https://www.econbiz.de/10005062513

Specification Searches in Spatial Econometrics: The Relevance of Hendry's Methodology

Florax, Raymond J.G.M.; Folmer, Hendrik; Rey, Sergio J. - EconWPA - 2002

This paper brings together a number of new specification search strategies in spatial econometric modeling. In the literature, experimental results for several forward stepwise strategies aimed at remedying spatial dependence, have been reported. Essentially, these strategies boil down to the...

Persistent link: https://www.econbiz.de/10005119054

Spatial Dependence in the Evolution of Regional Income Distributions

Rey, Sergio J. - EconWPA - 2001

This paper introduces three measures of spatial dependence for use in the analysis of regional income distributions and their evolution. The first builds upon the notion of regional conditioning (Quah 1993), and is derived as a trace statistic from a modified Markov transition matrix. The...

Persistent link: https://www.econbiz.de/10005124888

Do real interest rates converge? Evidence from the European Union

Arghyrou, Michael G.; Gregoriou, Andros; Kontonikas, … - Department of Economics, Adam Smith Business School - 2007

average. For the majority of our sample countries we obtain evidence of real interest rate convergence towards the latter …. Convergence, however, is a gradual process subject to structural breaks, typically falling close to the launch of the euro. Our …

Persistent link: https://www.econbiz.de/10005549023

Sigma-convergence in the presence of spatial effects

Rey, Sergio J.; Dev, Boris - EconWPA - 2004

This paper explores the implications that spatial effects can hold for the application of measures of sigma-convergence …. The bias of a common indicator of convergence is examined for a family of spatial process models including: [a] spatial … lag, [b] spatial error, and [c] spatial moving average. We show that the measure of sigma-convergence is sensitive to a …

Persistent link: https://www.econbiz.de/10005118990

The determinants of sovereign bond yield spreads in the EMU

Afonso, António; Arghyrou, Michael G.; Kontonikas, … - Department of Economics, Adam Smith Business School - 2012

We use a panel of euro area countries to assess the determinants of long-term sovereign bond yield spreads over the period 1999.01-2010.12. We find that, unlike the period preceding the global financial crisis, European government bond yield spreads are well-explained by macro- and fiscal...

Persistent link: https://www.econbiz.de/10011019229

On the time-varying relationship between EMU sovereign spreads and their determinants

Afonso, António; Arghyrou, Michael G.; Bagdatoglou, George - Department of Economics, Adam Smith Business School - 2013

We use a dynamic multipath general-to-specific algorithm to capture structural instability in the link between euro area sovereign bond yield spreads against Germany and their underlying determinants over the period January 1999 – August 2011. We offer new evidence suggesting a significant...

Persistent link: https://www.econbiz.de/10011019240

How do Sub-Central Government react to cuts in grants received from Central Governments Evidence from a Panel of 15 OECD Countries,

Darby, Julia; Muscatelli, V. Anton; Roy, Graeme - Department of Economics, Adam Smith Business School

Cross-country evidence on sub-central governments’ responses to cuts in grants received from central government shows the typical response is to adjust expenditure rather than offset cuts by raising ‘own’ revenues. Spending cuts are focused on the wage bill and, disproportionately, on...

Persistent link: https://www.econbiz.de/10005811779

Fiscal Federalism and Fiscal Consolidation: Evidence from an Event Study

Darby, Julia; Muscatelli, V. Anton; Roy, Graeme - Department of Economics, Adam Smith Business School

Fiscal consolidations, episodes where governments make large discretionary improvements in their fiscal positions, have received considerable attention, especially in EMU. The existing literature demonstrates that the composition of consolidations is a crucial determinant of their success. We...

Persistent link: https://www.econbiz.de/10005687326