an application to the estimation of panel data models with an infinite number of weak factors and a finite number of …

the Fraser Institute. The results from both cross-sectional and panel regressions using ordinary least squares indicate a … positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted …

This paper extends the Common Correlated Effects (CCE) approach developed by Pesaran (2006) to heterogeneous panel data … cross section averages must be included in individual equations of the panel, and the number of cross section averages must … dimension of the panel is sufficiently large. …

In this paper we extend the concept of serial correlation common features to panel data models. This analysis is … panel data with autocorrelation present and by an increase in efficiency coming from pooling procedures. We propose …

This paper proposes a quantile regression estimator for a heterogeneous panel model with lagged dependent variables and … the time series dimension of the panel is large. We present an application to the evaluation of Time-of-Use pricing using …

if the time dimension of the panel is as small as the number of its regressors. Extensions to panels with time effects …

specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF's Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …

transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary …

This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a … newly compiled database covering the years 1950 - 2011. Unlike previous studies on Germany, we analyze fiscal sustainability … by applying "gsecond generation" panel cointegration techniques. A unique identification strategy for the selection of …

. -- Fiscal sustainability ; EU ; panel cointegration …We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … specific panel unit root test to investigate the mean-reverting behaviour of general government expenditures and revenues …