In this paper we try to estimate the impact of Structural Funds on the growth rates of Objective 1 European regions during the two first Programming periods (1989-2000). For that purpose, we develop a ''hybrid'' model of economic growth that partially endogenizes the rate of technical progress...

A government policy regarding the reduction of state shares in state-owned enterprises (SOE) triggered a crash in the Chinese stock market. The sus- tained depression even after policy adjustments constitutes a puzzle— the so called “state-share paradox.”The empirical evidence shows...

A government policy regarding the reduction of state shares in state-owned enterprises (SOE) triggered a crash in the Chinese stock market. The sus- tained depression even after policy adjustments constitutes a puzzle— the so called “state-share paradox.”The empirical evidence shows...

This paper provides an empirical evaluation of the impact of infrastructure development on economic growth and income distribution using a large panel data set encompassing over 100 countries and spanning the years 1960-2000. The empirical strategy involves the estimation of simple equations for...

The importance of infrastructure for growth is well established in the macroeconomic literature. Previous research has treated public investment in infrastructure as exogenous. We remedy this shortcoming by providing a political economy analysis of infrastructure choice based upon consumer...

This paper provides an empirical analysis of individual earnings using data from the Encuesta Suplementaria de Ingresos. We find that the predictable component of income is hump-shaped over the life-cycle, and that there are strong education effects. The unpredictable component of income can be...

Este artículo explora a través de un mismo modelo básico las características fundamentales que determinan si es socialmente preferible concesionar versus privatizar un servicio público con características monopólicas. Los principales resultados de este trabajo son que la opción de...

This paper considers maximum likelihood (ML) based inferences for dynamic panel data models. We focus on the analysis of the panel data with a large number of cross-sectional units and a small number of repeated time-series observations for each cross-sectional unit. We examine several different...

ABSTRACT This study re-examines the exchange rate-monetary fundamentals link with in a panel data framework. Pure time series and pooled time series-based tests fail to find empirical support for monetary exchange rate models (Sarantis (1994) and Groen (2000)). Using recently developed Panel...

This paper seeks to quantify sources of variation in annual job earnings data collected by the 1996 Survey of Income and Program Participation (SIPP) and to determine how much of the variation is the result of measurement error. To this end, jobs reported in the SIPP are linked to jobs reported...