In this paper, we perform an extensive Monte Carlo study of the finite sample properties of different estimators for panel data sample selection models. The estimators investigated are various two-step estimators and maximum likelihood estimators with simultaneous equations for the samle...

The paper provides a review of basic elements of asymptotic theory. Topics include modes of convergence, laws of large numbers and central limit theorems.

This paper evaluates the forecasting performance of a continuous stochastic volatility model with two factors of volatility (SV2F) and compares it to those of GARCH and ARFIMA models. The empirical results show that the volatility forecasting ability of the SV2F model is better than that of the...

This paper examines the Granger causality between total expenditures, own source revenues, grants received from the State and long-term loans for 12 subgroups of Finnish municipalities. Two panel data sets that cover the years 1985-1992 and 1993-1999 are used in order to compare the effect of...

Although apprenticeship training has been praised for its effectiveness in smoothing the school-to-work transition of non-college bound students in Western European dual education systems, there is a lack of evidence from Central Eastern Europe. Using a unique individual-level panel database,...

Based on the microbased panel datasets of the Labour Force Survey between 1998 and 2010 and the administrative Pension Fund data between 2000 and 2006 we analyse the number, composition and subsequent labour market behaviour of former public sector employees in Hungary. We show that the greater...

Although apprenticeship training has been praised for its effectiveness in smoothing the school-to-work transition of non-college bound students in Western European dual education systems, there is a lack of evidence from Central Eastern Europe. Using a unique individual-level panel database,...

This paper investigates the influence of institutional quality on crypto adoption in the country with regard to the level of financial literacy of country's population. The results show that in countries with lower financial literacy, institutions have a greater influence on cryptocurrency...