We estimate a model of the black market premium for dollars in Yugoslavia from 1974 to 1987. Unlike previous applications of the model, our analysis addresses non-stationarity in the underlying data by allowing for trend breaks. Endogenous structural break tests indicate the presence of breaks...

This paper forms part of an OECD project which addressed the issue of the structure and change in the distribution systems of seven OECD countries. The paper gives a comprehensive view of the distribution system in the United Kingdom. Namely, it assesses the contribution of this sector to the...

In this paper we examine temporal properties of eleven natural resource real price series from 1870-1990 by employing a Lagrangian Multiplier unit root test that allows for two endogenously determined structural breaks with and without a quadratic trend. Contrary to previous research, we find...

A panel of industrial countries is examined for evidence of 'tax smoothing'. Tax smoothing results when governments minimize tax distortions over time. The model provides a positive theory of government debt and is due primarily to Barro. Unit root tests are performed in panel data to test the...

Time paths of carbon dioxide emissions intwenty-one industrial countries are examinedfrom 1960–1997 to test for stochastic andconditional convergence. Both panel unit roottests and cross-section regressions areperformed. Overall, we find significantevidence that CO<Subscript>2</Subscript> emissions haveconverged....</subscript>

The size of government consumption relative to national output is examined to see if it is optimal in five Gulf countries of the Middle East. We follow the methodology suggested in Barro (1990) and Karras (1996, 1997). The 'Barro rule' is examined using regression tests for each country and in...

Internationalisation by retailers is a major corporate strategy and has become a substantive research focus for retail academics in Europe. The majority of research has concentrated on the expansionist dimensions of this activity. Only recently has attention turned to the role and importance of...