Department: Economics.

We develop a set of nonparametric rank tests for non-stationary panels based on multivariate variance ratios which use untruncated kernels. As such, the tests do not require the choice of tuning parameters associated with bandwidth or lag length and also do not require choices with respect to...

The paper proposes a structural approach to VAR analysis in panels, which takes into account responses to both idiosyncratic and common structural shocks, while permitting full cross member heterogeneity of the response dynamics. In the context of this structural approach, estimation of the...

Is there a relationship between local arts and culture production and local prosperity that is permanent rather than transitory? The answer to this question determines whether arts and culture production generates economic growth or a temporary `multiplier' effect that diminishes over time. We...