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The Political Economy of Financial Systems : Evidence from Suffrage Reforms in the Last Two Centuries
Degryse, Hans; Lambert, T.; Schwienbacher, A. - Tilburg University, Center for Economic Research - 2013
Abstract: Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the...
Persistent link: https://www.econbiz.de/10011091017
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Separations at the Firm Level
van Ours, Jan; Gautier, P.A.; van den Berg, G.; Ridder, G. - Tilburg University, Center for Economic Research - 1999
-off policy of firms can explain the relatively high level of unemployment amongst lower educated workers and the relatively … strong sensitivity of their unemployment rate to the business cycle. We find that lay-off rates decrease with education but … with a higher level of education can not explain the stronger cyclicality of the unemployment rate for lower educated …
Persistent link: https://www.econbiz.de/10011090392
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Social Capital, Institutions and Trust
Nooteboom, B. - Tilburg University, Center for Economic Research - 2006
This paper analyzes the relations between social capital, institutions and trust.These concepts are full of ambiguity and confusion.This paper attempts to dissolve some of the confusion, by distinguishing trust and control, and analyzing institutional and relational conditions of trust.It...
Persistent link: https://www.econbiz.de/10011092754
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Central Bank Reform, Liberalization and Inflation in Transition Economies : An International Perspective
Cukierman, A.; Miller, G.P.; Neyapti, B. - Tilburg University, Center for Economic Research - 2000
This paper develops extensive new data on the legal independence of new central banks in 26 former socialist economies (FSE).This data is constructed using the codification system for measuring legal independence developed in Cukierman, Webb and Neyapti (1992) and in chapter 19 of Cukierman...
Persistent link: https://www.econbiz.de/10011091664
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Economic Freedom and Life Satisfaction : A Cross Country Analysis
Graafland, Johan; Compen, B. - Tilburg University, Center for Economic Research - 2012
Abstract: This paper estimates the relationship between various sub-indicators of economic freedom and life satisfaction for 122 countries. The estimation results show that life satisfaction is positively related to the quality of the legal system and protection of property rights. For poor...
Persistent link: https://www.econbiz.de/10011092452
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GMM Estimation of Fixed Effects Dynamic Panel Data Models with Spatial Lag and Spatial Errors (Revised version of CentER DP 2011-134)
Cizek, Pavel; Jacobs, J.; Ligthart, J.E.; Vrijburg, H. - Tilburg University, Center for Economic Research - 2015
The three-step generalized methods of moments (GMM) approach of Kapoor, Kelejian and Prucha (2007), which corrects for spatially correlated errors in static panel data models, is extended by introducing fixed effects, a spatial lag, and a one-period lag of the dependent variable as additional...
Persistent link: https://www.econbiz.de/10011144455
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GMM Estimation of Fixed Effects Dynamic Panel Data Models with Spatial Lag and Spatial Errors (Replaced by CentER DP 2015-003)
Cizek, Pavel; Jacobs, J.P.A.M.; Ligthart, J.E.; Vrijburg, H. - Tilburg University, Center for Economic Research - 2011
We extend the three-step generalized methods of moments (GMM) approach of Kapoor et al. (2007), which corrects for spatially correlated errors in static panel data models, by introducing a spatial lag and a one-period lag of the dependent variable as additional explanatory variables. Combining...
Persistent link: https://www.econbiz.de/10011124438
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Robust Estimation and Moment Selection in Dynamic Fixed-effects Panel Data Models
Cizek, Pavel; Aquaro, M. - Tilburg University, Center for Economic Research - 2015
This paper extends an existing outlier-robust estimator of linear dynamic panel data models with fixed effects, which is based on the median ratio of two consecutive pairs of first-differenced data. To improve its precision and robust properties, a general procedure based on many pairwise...
Persistent link: https://www.econbiz.de/10011124439
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Mobility in the Urban Labor Market : A Panel Data Analysis for Mexico
van soest, arthur; Gong, X.; Villagomez, E. - Tilburg University, Center for Economic Research - 2000
We analyze mobility in urban Mexico between three labor market states: working in the formal sector, working in the informal sector, and not working. We use a dynamic multinomial logit panel data model with random effects, explaining the labor market state of each individual during each time...
Persistent link: https://www.econbiz.de/10011092596
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A Two-Step First Difference Estimator for a Panel Data Tobit Model under Conditional Mean Independence Assumptions
Kalwij, A.S. - Tilburg University, Center for Economic Research - 2004
This study develops a two-step estimator for a panel data Tobit model based on taking first-differences of the equation of interest, under conditional mean independence assumptions.The necessary correction terms are non-standard and a substantial part is therefore devoted to the formal...
Persistent link: https://www.econbiz.de/10011092714