This work investigates the relationship between debt maturity and the characteristics of ownership in a sample of 700 UK non-financial listed firms for the period 1991-2001. The reported results suggest that there is a significant U-shaped relationship between short-term debt and managerial...

This paper investigates the persistence in health limitations for individuals within the member states of the European Union. We use the full 8 waves of data available in the European Community Household Panel (ECHP) to explore the relative contributions of state dependence, unobserved...

This paper examines whether government ideology has influenced monetary policy in OECD countries. We use quarterly data in the 1980.1-2005.4 period and exclude EMU countries. Our Taylor-rule specification focuses on the interactions of a new time-variant index of central bank independence with...

In this paper a new method to estimate the equivalence scale elasticity using individual panel data on income satisfaction will be developed. In contrast to other subjective approaches, the present one benefits from the fact that no direct cardinal individual welfare function has to be...

This paper explores reporting bias and heterogeneity in the measure of self-assessed health (SAH) used in the British Household Panel Survey (BHPS). The ninth wave of the BHPS includes the SF-36 general health questionnaire, which incorporates a different wording to the self-assessed health...

This article contributes to the literature on innovation and development by identifying the determinants of innovation, and the role of intellectual property rights, in industrialized and developing countries. Controlling for sample selection, I find that, in general, the level of intellectual...

We link life-satisfaction data to inequality of the pre-government income distribution at the regional level, to estimate the degree of inequality aversion. In addition, we investigate whether a reduction in inequality by the state increases individual well-being. We find that Germans are...

The nature of the relationship between health and income is still not clearly defined. It is believed that personal income affects health but this may not be the end of the story. Income may also play its part through issues of relativity and deprivation. It may even be possible that these...

This paper tackles the issue of cross-section dependence for the monetary exchange rate model in the presence of unobserved common factors using panel data from 1973 until 2007 for 19 OECD countries. Applying a principal component analysis we distinguish between common factors and idiosyncratic...