Showing 1 - 10 of 31
The perpetual inventory method used for the construction of education data per country leads to systematic measurement error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the education level between census data and observations...
Persistent link: https://www.econbiz.de/10005137275
use and ecosystem management; growth and environmental resources; economic and evolutionary progress; and individual …
Persistent link: https://www.econbiz.de/10005144510
This paper addresses heterogeneity in determinants of economic growth in a data-driven way. Instead of defining groups … of countries with different growth characteristics a priori, based on, for example, geographical location, we use a … growth determinants. Applying this approach to an annual unbalanced panel of 59 countries in Asia, Latin and Middle America …
Persistent link: https://www.econbiz.de/10005144578
Foreign aid’s effectiveness in promoting economic growth remains mired in controversy.We examine the impact of the … volatility of aid on economic growth, controlling for the level of aid. A four-year panel analysis is conducted encompassing 155 … economic growth. Correspondingly, volatility of aid flows is found to be negatively related to growth. We found no significant …
Persistent link: https://www.econbiz.de/10008513230
misspecifications resulting from the omission of spatial linkages in standard empirical models of economic growth. Our dataset consists … of TFP estimates for 73 countries over the period 1960-2000, and we find that TFP growth rates and levels are positively … the Nelson and Phelps (1966) model shows that the impact of being located close to a country with high TFP growth rates is …
Persistent link: https://www.econbiz.de/10005136906
In this note we show that the standard, loglinear growth regression specification is consistent with one and only one …
Persistent link: https://www.econbiz.de/10005137069
According to disposition effect theory, people hold losing investments too long. However, many investors eventually sell at a loss, and little is known about which psychological factors contribute to these capitulation decisions. This study integrates prospect theory, utility maximization...
Persistent link: https://www.econbiz.de/10005504910
Interacting agents in finance represent a behavioral, agent-based approach in which financial markets are viewed as complex adaptive systems consisting of many boundedly rational agents interacting through simple heterogeneous investment strategies, constantly adapting their behavior in response...
Persistent link: https://www.econbiz.de/10005209457
A number of recent theoretical studies have explored trading in fragmented markets, e.g. Biais et al. (2000), a phenomenon increasingly witnessed in modern markets. The key assumption generating the results is that there is at least one liquidity demander exploiting access to all markets by...
Persistent link: https://www.econbiz.de/10005209503
This paper considers a simple Continuous Beliefs System (CBS) to investigate the effects on price dynamics of several behavioral assumptions: (i) herd behaviour; (ii) a-synchronous updating of beliefs; and (iii) heterogeneity in time horizons (memory) among agents. The recently introduced...
Persistent link: https://www.econbiz.de/10005144520