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Finding relevant variables in sparse Bayesian factor models : economic applications and simulation results

Kaufmann, Sylvia; Schumacher, Christian - 2012

This paper considers factor estimation from heterogenous data, where some of the variables are noisy and only weakly informative for the factors. To identify the irrelevant variables, we search for zero rows in the loadings matrix of the factor model. To sharply separate these irrelevant...

Persistent link: https://www.econbiz.de/10009674269

Inflation and growth : new evidence from a dynamic panel threshold analysis

Kremer, Stephanie; Bick, Alexander; Nautz, Dieter - 2009

We introduce a dynamic panel threshold model to shed new light on the impact of inflation on long-term economic growth. The empirical analysis is based on a large panel-data set including 124 countries during the period from 1950 to 2004. For industrialized countries, our results confirm the...

Persistent link: https://www.econbiz.de/10003876000

Ancestry, Diversity & Finance : Evidence from Transition Economies

Dombi, Akos; Grigoriadis, Theocharis - 2017

In this paper, we analyze the growth effects of historical and biological ancestry, diversity and financial development in transition economies. We show that the common indicators of ethnolinguistic fractionalization, state history and genetic distance yield significant results and to some...

Persistent link: https://www.econbiz.de/10011596107

Global universal basic skills : current deficits and implications for world development

Gust, Sarah; Hanushek, Eric Alan; Woessmann, Ludger - 2023

How far is the world away from ensuring that every child obtains the basic skills needed to be internationally … competitive? And what would accomplishing this mean for world development? Based on the micro data of international and regional … skills for 159 countries that cover 98.1% of world population and 99.4% of world GDP. We find that at least two-thirds of the …

Persistent link: https://www.econbiz.de/10014477384

Antiquity and capitalism : the finance-growth perspective

Dombi, Akos; Grigoriadis, Theocharis; Zhu, Junbing - 2020

This paper explores the impact of antiquity on capitalism through the finance-growth nexus. We define antiquity as the length of established statehood (i.e., state history) and agricultural years. We argue that extractive institutions and deeply entrenched interest groups may prevail in...

Persistent link: https://www.econbiz.de/10012214952

The empirics of economic growth over time and across nations : a unified growth perspective

Cervellati, Matteo; Meyerheim, Gerrit; Sunde, Uwe - 2022

This research develops an expanded unified growth theory that incorporates the endogenous accumulation of physical capital, population, human capital, and technology. The model incorporates a complementarity between physical capital and human capital and can be extended to a multi-country...

Persistent link: https://www.econbiz.de/10014458861

Growth miracles and failures in a Markov switching classification model of growth

Kerekes, Monika - 2009

Acknowledging the fact that the growth experience of countries is seldom well described by the average growth rate, this paper aims at identifying countries that are similar in terms of their growth process, thus emphasizing the dynamics of growth rates. To that end, the growth experience of...

Persistent link: https://www.econbiz.de/10003876023

The winner's curse : evidence on the danger of aggressive credit growth in banking

Kick, Thomas; Pausch, Thilo; Ruprecht, Benedikt - 2015

Excessive credit creation by banks was at the root of the recent financial crisis. Nevertheless, micro-prudential regulation lacks a clear methodology to identify these banks. Combining arguments from banking and auction theory, we show that overoptimism causes excessive lending, subsequently...

Persistent link: https://www.econbiz.de/10011339814

How does democracy cause growth?

Boese, Vanessa Alexandra; Eberhardt, Markus - 2023 - This version: July 6th, 2023

Recent empirical work has established that 'democracy causes growth'. In this paper, we determine the underlying institutions which drive this relationship using data from the Varieties of Democracy project. We sketch how incentives and opportunities as well as the distribution of political...

Persistent link: https://www.econbiz.de/10014334859

Revisiting the finance and growth nexus : a deeper look at sectors and instruments

Unger, Robert - 2019

This paper investigates empirically whether the relation between finance and growth depends on a specific type of financing. I construct a novel panel data set for 34 high income countries over the time period from 1995 to 2014 based on financial accounts data. It allows distinguishing between...

Persistent link: https://www.econbiz.de/10011962798

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