housing credit) to economic growth in emerging market economies (EMs). Using cross-country panel regressions, we find … cross-country panel regressions …

-income countries). Using dynamic panel GMM estimators, we find that a reallocation involving a rise in education spending has a …

(Bernanke 2007, Plosser 2007). We test this claim using panel data on sectoral growth for 22 manufacturing industries for 36 …

empirically relevant and address it by estimating a correlated random coefficient model. Using a panel dataset of 127 countries …

This paper applies the maximum likelihood panel cointegration method of Larsson and Lyhagen (2007) to test the strong … contrasted to those from the Pedroni (1995) cointegration tests and fully modified OLS and dynamic OLS esimators of the …

In this paper, we derive evidence on the integration of international stock markets from the cointegration properties … of international stock market prices. Using the multivariate cointegration test of Johansen, we find that the set of six … subgroup analyses also indicate that the cointegration relationships have become stronger over time. This is consistent with …

to explain why it does not seem to have provided a significant boost to the world economy. This paper aims to address ….8% of world GDP. We find that, on net, shocks driving the oil price in 2015 shaved off 0.2 percentage points of growth for … negative shocks to the world economy …