. Using foreign direct investment (FDI) as a measure for capital flows, we present empirical evidence which largely confirms … thereby fosters economic growth. We apply a structural estimation approach to fully track the endogenous mechanisms of the …

The prevailing consensus is that foreign direct investment (FDI) effects are conditional. At the macro level, they … FDI on performance. We find these effects tend to be larger in macro than in micro studies, and greater in low- than in …

larger than the ethnic wage discrimination. In the second estimation stage, these wage discrimination estimates are used in a …

dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the … number of endogenous variables tends to infinity. It is shown that under such restrictions, an infinite-dimensional VAR (or … IVAR) can be arbitrarily well characterized by a large number of finite-dimensional models in the spirit of the global VAR …

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

. The cointegration analysis vindicates the existence of a long-run relationship between these two variables. This finding …