The system GMM estimator for dynamic panel data models combines moment conditions for the model in first differences with moment conditions for the model in levels. It has been shown to improve on the GMM estimator in the first differenced model in terms of bias and root mean squared error....

This discussion paper led to chapter <A href="https://books.google.nl/books?id=9TKgAgAAQBAJ&pg=PA327&lpg=PA327&dq=The+contribution+of+occupation+to+health+inequality&source=bl&ots=ARvoHIjbie&sig=HWA5I2mtJbsV_nJV5cvF6ixZmT0&hl=nl&sa=X&ei=FEj0VNbeGoHlUqjsgdgN&ved=0CDwQ6AEwAg#v=onepage&q=The%20contribution%20of%20occupation%20to%20health%20inequality&f=false">Health and Inequality</A>, pages 311-332 in: (P. Rosa Dias and O. O’Donnell (Eds)) Vol. 21 of 'Research on Economic Inequality', Emerald Group Publishing, 2013, 536 pages.<P> While it seems evident that occupations affect health, effect estimates are scarce. We...</p></a>

This paper introduces two easy to calculate estimators with desirable properties for theautoregressive parameter in dynamic panel data models. The estimators are (nearly) unbiased andperform satisfactorily even for small samples in either the time-series or cross-section dimension.

This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial regimes. First McKinnon and Shaw advocated financial...

This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...

We find that investor sentiment should affect a firm's employment policy in a world with moral hazard and noise traders. Consistent with the model's predictions, we show that higher sentiment among US investors leads to: (1) higher employment growth worldwide; (2) lower labor productivity, as the...

While financial liberalization has in general favorable effects, reforms in countries with poor regulation is often followed by financial crises. We explain this variation as the outcome of lobbying interests capturing the reform process. Even after liberalization, market investors must rely on...

We exploit the introduction of free banking laws in US states during the 1837-1863 period to examine the impact of removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic stability in this period, we are able to isolate the...

We develop a model of endogenous lobby formation in which wealth inequalityand political accountability undermine entry and financial development. In-cumbents seek a low level of effective investor protection to prevent potentialentrants from raising capital. They succeed because they can...

This survey reviews how a recent political economy literature helps explaining variation in governance, competition, funding composition and access to credit. Evolution in political institutions can account for financial evolution, and appear critical to explain rapid changes in financial...