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Mobility ; Openness ; Political Economy ; Beliefs ; Religion ; Immigration … that hard work rather than luck, birth, connections, and corruption determine wealth. In this way, the Janus face of …
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In this study we analyze the effects of corruption on income inequality and poverty. Our analysis advances the existing … literature in four ways. First, instead of using corruption indices assembled by various investment risk services, we use an … objective measure of corruption: the number of public officials convicted in a state for crimes related to corruption. Second …
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Models based on economic theory have serious problems at forecasting exchange rates better than simple univariate driftless random walk models, especially at short horizons. Multivariate time series models suffer from the same problem. In this paper, we propose to forecast exchange rates with a...
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