Showing 1 - 10 of 93
This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the...
Persistent link: https://www.econbiz.de/10003889148
In this paper R2-type measures of the explanatory power of multivariate linear and categorical probit models proposed in the literature are reviewed and their deficiencies are discussed. It is argued that a measure of the explanatory power should take into account the components which are...
Persistent link: https://www.econbiz.de/10011436274
existing literature, this paper utilizes panel data covering 175 countries during the 1991-2011 period, capturing country … and male soccer ; women’s empowerment ; panel analysis …
Persistent link: https://www.econbiz.de/10009722299
This paper provides new evidence on the contribution of local banking to local economic growth (i.e. at county level - the Italian "province") in Italy. A comprehensive dataset is used, which includes control variables for social capital and human capital as well as indicators of the quality of...
Persistent link: https://www.econbiz.de/10010406692
After the collapse in early transition years, saving rates in Eastern European EU-accession countries have recovered strongly. Is private saving in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of private saving in both country...
Persistent link: https://www.econbiz.de/10011438969
An interaction in a fixed effects (FE) regression is usually specified by demeaning the product term. However, this strategy does not yield a genuine within estimator. Instead, an estimator is produced that reflects unit-level differences of interacted variables whose moderators vary within...
Persistent link: https://www.econbiz.de/10011880691
As panel vector autoregressive (PVAR) models can include several countries and variables in one system, they are well …-supported restrictions. The prior differentiates between domestic and foreign variables, thereby allowing a less restrictive panel structure …
Persistent link: https://www.econbiz.de/10011552976
unemployment. Empirical results focus on particular theoretical channels establishing the relationship. Panel models mostly draw on …
Persistent link: https://www.econbiz.de/10011411665
(industry) level by applying the Phillips-Sul (2007) tests for panel and club convergence. The main findings can be summarised … Telecommunication, both in a turn-around phase, and Gas & Oil and Technology, for which there is no panel convergence. Club convergence … tests reveal the existence of convergence clubs and divergent economies within the full panel, which explains why panel …
Persistent link: https://www.econbiz.de/10011654612
This paper considers the question of whether changes in persistence have occurred during the long-run evolution of U.S. prices of the non-renewable energy resources crude oil, natural gas and bituminous coal. Our main contribution is to allow for a structural break when testing for a break in...
Persistent link: https://www.econbiz.de/10009579658