Showing 1 - 10 of 132
In an influential paper, Acemoglu et al. (2008) find that the positive correlation between income per capita and the level of democracy across countries vanishes once country-specific effects are accounted for. In this paper, we find evidence of a non-linear effect from income to democracy even...
Persistent link: https://www.econbiz.de/10011041779
the short run effect. Elections thus appear as a disciplining device, even if a weak one. …
Persistent link: https://www.econbiz.de/10010743689
This paper investigates the quasi-maximum likelihood (QML) estimation of spatial panel data models where spatial weights matrices can be time varying. We show that QML estimate is consistent and asymptotically normal. We also derive the asymptotic distribution of average impact coefficients...
Persistent link: https://www.econbiz.de/10011208460
We obtain an LM test for the random effects probit model. In the natural parameterization of the model the necessary derivatives are identically zero under the null hypothesis. After a reparameterization, the feasible LM test is based on generalized residuals.
Persistent link: https://www.econbiz.de/10011189539
Unit specific effects are often used to estimate non-spatial efficiency. We extend such estimators to the case where there is spatial autoregressive dependence and introduce the concept of spillover efficiency. Intuitively, we present an approach to benchmark how successful units are at...
Persistent link: https://www.econbiz.de/10010906375
Based on a large international panel of surveyed GDP forecasts I analyze the frequency of forecast revisions and the factors that influence the likelihood of forecast revisions. I find that each month on average 40%–50% of forecasters revise their forecasts. In addition, I find that the...
Persistent link: https://www.econbiz.de/10011041736
This paper empirically tests for convergence in consumer price indices across 17 major cities in US over the 1918–2008 period. By using the novel OLS estimator introduced by Bao, Y., Dhongde, S., 2009. Testing convergence in income distribution. Oxford Bulletin of Economics and Statistics 71,...
Persistent link: https://www.econbiz.de/10010576409
The paper estimates the impact of labor market variables on crime in the Philippines using national-level time series and regional-level panel data. The evidence suggests that wage rate and labor force participation rate have stronger effect on crime than criminal deterrence variables.
Persistent link: https://www.econbiz.de/10010576425
The aim of this note is to present a root-N consistent estimator for the regression coefficients in a fixed-effects panel data sample selection model that has one selection equation and two regression equations. Other than the condition that the error terms satisfy a control function type of...
Persistent link: https://www.econbiz.de/10010594084
This paper proposes a new estimator for the fixed effects ordered logit model. In contrast to existing methods, the new procedure allows estimating the thresholds. The empirical relevance and simplicity of implementation is illustrated in an application on the effect of unemployment on life...
Persistent link: https://www.econbiz.de/10010572132