This study assesses the extent to which public infrastructures have contributed to output in the Chilean economy over the period 1960-1995. For the long-run, it uses a vector error correction model for cointegration tests, while for the short-run, it resorts to the use of impulse response...

We estimate the EU Commission loss preferences for major economic forecasts of 12 Member States. Based on a recently proposed method by Elliott, Komunjer and Timmermann (2005) the paper provides evidence of asymmetries in the underlying forecast loss preference of the Commission that tend to...

The aim of this study is to estimate the productivity contribution of the main components of the infrastructure capital to the Chilean economy, over the 1960-2000 period. We develop a cost function framework that allows us to decompose the growth of total factor productivity into relevant...

The aim of this paper is to investigate whether there is a link between disaggregated measures of government expenditures and private investment in Greece. A cointegration analysis of a multivariate system of equations is applied in order to empirically estimate the long run relationships...

This paper addresses the question of whether there is a long run relationship between infrastructure and private capital productivity of Greek industry. Causality issues are also discussed. The results provide evidence in favour of productivity enhanced by public capital stock, and of no...

This paper follows the dual-cost function methodology and develops a theoretical specification that assesses the contribution of public R&D capital to the productivity growth. The empirical application focuses on the Greek food and beverages industry. For this purpose it employs a...

This paper estimates how output growth responds to shocks in the tax mix and tax burden over a long period of time. In particular, the underlying dynamic interactions between output growth, tax mix and tax burden are considered. To this purpose, Impulse Response Function analysis is applied. The...