to a fiscal deficit bias at the early stages of financial liberalization. When countries differ in terms of capital …. Consistent with theory, I find that stronger tax competition increases deficits in a sample of OECD countries, controlling for …

bias is persistent and robust to several model extensions. Implications for the optimal design of intellectual property …

, this channel for supply-driven media bias has not previously been analyzed in economics literature. We model the … provide to a media firm. Strategic interactions between these agents may have a significant impact on the level of media bias …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

this paper, we investigate the sensitivity of standard gravity estimation to spatial aggregation. We build a model in which … on border effects in domestic and international trade. Our theory shows that larger countries are systematically … associated with smaller border effects. The reason is that due to spatial frictions, aggregation across space increases the …

of profound uncertainty about the benefits of public goods, i.e., when citizens are able to identify the distribution of … desirable policies and aim at manipulating information aggregation by misrepresenting their private information. We show that …

Despite the fact that many aggregates are nonlinear functions and the aggregation weights of many macroeconomic …, time-invariant aggregation weights. In this study a framework for nonlinear contemporaneous aggregation with possibly …