This paper investigates the robustness of determinants of economic growth in the presence of model uncertainty, parameter heterogeneity and outliers. The robust model averaging approach introduced in the paper uses a flexible and parsimonious mixture modeling that allows for fat-tailed errors...

This paper analyses the long memory properties of quarterly real output per capita in the US (1948Q1-2008Q3) using non-parametric, semi-parametric and parametric techniques. The results vary substantially depending on the methodology employed. Evidence of mean reversion is obtained in a...

We derive monthly and quarterly series of UK GDP for the inter-war period from a set of monthly indicators that were constructed by The Economist at the time. The monthly information is complemented with data for quarterly industrial production, allowing us to employ mixed-frequency methods to...

This paper presents a stress indicator for the eurozone that summarizes developments of trends and cycles in real GDP and inflation in the member countries. Stress in a country is defined as the difference between the country's actual short-term interest rate and the interest rate that would...

Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with a...

This paper analyses for 34 OECD countries the extent to which the calculation of aggregate multi-factor productivity (MFP) is sensitive to alternative parameterisations. The starting point is the definition of MFP used in previous work in the OECD's Economics Department (e.g. Johansson et al....

Usually, studies analyzing terrorism focus on the total number of casualties or attacks in a given county. However, per capita rates of terrorism are more likely to matter for individual welfare. Analyzing 214 countries from 1970-2014, we show that three stylized findings are overturned in terms...

In recent years, sustainability has represented one of the most important policy goals explored in the environmental Kuznets curve (EKC) literature. But related hypotheses, performance measures and results continue to present a challenge. The present paper contributes to this ongoing literature...

This paper provides a new data set of regional income inequalities within countries based on satellite nighttime light data. We first empirically study the relationship between luminosity data and regional incomes for those countries where regional income data are available. We subsequently use...