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Estimation of Time-invariant Effects in Static Panel Data Models
Pesaran, M. Hashem; Zhou, Qiankun - CESifo - 2014
This paper proposes the Fixed Effects Filtered (FEF) and Fixed Effects Filtered instrumental variable (FEF-IV) estimators for estimation and inference in the case of time-invariant effects in static panel data models when N is large and T is fixed. It is shown that the FEF and FEF-IV estimators...
Persistent link: https://www.econbiz.de/10010948893
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Price Dispersion in the Euro Area: The Case of a Symmetric Oil Price Shock
Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - CESifo - 2009
according to the impact of the oil price shock on the overall price level. While cross–country heterogeneity in the short …–run pass–through can be attributed to different weights of energy items in the consumption basket, heterogeneity in the medium …
Persistent link: https://www.econbiz.de/10005013058
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Resource Rents, Democracy and Corruption: Evidence from Sub-Saharan Africa
Arezki, Rabah; Gylfason, Thorvaldur - CESifo - 2011
We examine the effect of the interaction between resource rents and democracy on corruption for a panel of 29 Sub …-Saharan countries during the period from 1985 to 2007. We find that higher resource rents lead to more corruption and that the effect is … suggest that the mechanisms through which resource rents affect corruption cannot be separated from political systems. …
Persistent link: https://www.econbiz.de/10009294093
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Socio-Economic Heterogeneity and Electoral Turnout: An Aggregate Analysis with Precinct-Level Data
Bellettini, Giorgio; Ceroni, Carlotta Berti; … - CESifo - 2014
In this paper we perform an empirical analysis to investigate the impact of socio-economic heterogeneity on electoral … results suggest that increased ethnic heterogeneity and reduced social pressure tend to depress turnout. …
Persistent link: https://www.econbiz.de/10010948816
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Consumers' Complaints, the Nature of Corruption, and Social Welfare
Amegashie, J. Atsu - CESifo - 2013
very little attention in the literature on corruption. I study a model of corruption with incomplete information in which … consumers require a government service from officials who may be corrupt. A victim of corruption can report corrupt officials to … which no one reports corruption regardless of the proportion of honest supervisors although all lower-ranking officials are …
Persistent link: https://www.econbiz.de/10010670797
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Cyclical Fiscal Policy, Output Volatility, and Economic Growth
Badinger, Harald - CESifo - 2008
This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004. Identification of the effects of (endogenous) cyclical fiscal...
Persistent link: https://www.econbiz.de/10005765701
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The New International Architecture
Dornbusch, Rudi - CESifo - 2002
In 1998 Rüdiger Dornbusch gave the Munich Lectures in Economics entitled “International Financial Crises”. The CES Academic Council awarded him the prize and title “Distinguished CES Fellow” for his outstanding work on the monetary theory of foreign trade.Rüdiger Dornbusch passed away...
Persistent link: https://www.econbiz.de/10005051529
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The Economic Effects of Direct Democracy – A First Global Assessment
Blume, Lawrence; Müller, Jens; Voigt, Stefan - CESifo - 2007
higher government effectiveness. The effects on government expenditure, corruption and productivity have the expected signs …
Persistent link: https://www.econbiz.de/10005405898
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Exponent of Cross-sectional Dependence: Estimation and Inference
Bailey, Natalia; Kapetanios, George; Pesaran, M. Hashem - CESifo - 2012
An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...
Persistent link: https://www.econbiz.de/10009645642
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The U.S. Dollar Exchange Rate and the Demand for Oil
Schryder, Selien De; Peersman, Gert - CESifo - 2013
Using recent advances in panel data estimation techniques, we find that an appreciation of the US dollar exchange rate leads to a significant decline in oil demand for a sample of 65 oil-importing countries. The estimated effect turns out to be much larger than the impact of a shift in the...
Persistent link: https://www.econbiz.de/10010877652