This paper analyzes the role of religious conflict in the process of development of a country. We construct an index of religious polarization using data on the proportions of each religion in a country. The index of polarization is an alternative to the usual fragmentation index. We argue that...

This paper analyzes the dynamic behavior of price changes in the Spanish futures market and its determinants using data on transactions observed during several days. The econometrictechnique is the ordered probit, which allows the accommodation of the main characteristics of the data: price...

El documento analiza la posibilidad de efectos umbral en el crecimiento asociados con la intensidad de capital público. Se estima un modelo de crecimiento de Solow aumentado con capital humano usando datos de los estados estadounidenses para el período 1969-86, rechazándose la existencia de...

The "traditional" approach to the estimation of count panel data models with fixed effects is the conditional maximum-likelihood estimator. The pseudo maximum-likelihood principle can be used in these models to obtain orthogonality conditions that generate a robust estimator. However, this...

This paper analyzes monetary policy transmission in the European Monetary System using VAR techniques. After a discussion of several V AR identification procedures for the stance of monetary policy, this paper proposes an ¡identification scheme that is essentially consistent with the basic...

In this paper we present a projection of the future evolution of the population and of the dependency ratio in Spain. Several definitions of dependency ratios are derived, all with more economic content than the simple definition of this concept. Finally, the implications of these demographic...

This paper compares the finite sample performance of two recently proposed cointegrating vector estimators: the canonical cointegration regression estimator (Park [6]) and Stock and Watson's [9] dynamic ordinary least squares estimator (DOLS). The set up for the Monte Carlo experiment is the...

The World Health Organization estimates that 300 million clinical cases of malaria occur annually and its incidence increased during the 90's. There are basically two factors behind the incidence of malaria: "geographical destiny", or ecological conditions, and social conditions, which are...