Fluctuation Economic research grow up from 80’s with the Dynamic Stochastic General Equilibrium Models (DSGE), where the agent are search for the optimum point at the intertemporal decisions, that is decision over time of how consumers make choice between present and future consumption at the...

The role played by financial intermediaries and banks in modern economies is undeniably critical. However, explaining their importance in a theoretical general equilibrium framework presents some challenges. If firms and households have unrestricted access to complete financial markets, then at...

This thesis investigates the determinants of the use of debt and leasing in the UK using a comprehensive measure of debt and leases, in recognition of the link between lease and debt-type financing decisions, based on financial contracting theory and the tax advantage hypothesis. The design of...

The main aim of the paper is to examine the short- and medium-term empirical link between current account balances and a broad set of (economic) variables proposed by theoretical and empirical literature. The paper focuses on the Middle East and North Africa (MENA), an economically diverse...

Incluye bibliografía ; El estimador de Arellano y Bond (1991) es muy popular entre los investigadores empíricos para estimar modelos dinámicos de panel con efectos fijos y regresores endógenos. Sin embargo, dicho estimador puede presentar sesgos cuando el número de unidades del panel (N) es...

This dissertation consists of three essays, first two of which consider a new estimation method of dynamic panel data models and the last one considers an application of these models. The first essay (Chapter 1) offers empirical likelihood (EL) estimation of dynamic panel data models, which...