panel model using a system of generalized method of moments (SYS-GMM) to address the risk of endogeneity bias in the …

panel VAR techniques to use a large annual dataset on 22 OECD countries over the period 1987-2009. The VAR approach allows …

country. We employ the panel Granger causality testing approach of Konya (2006) that is based on SUR systems and Wald tests … panel member separately by taking into account the contemporaneous correlation across countries. Using annual data over the …