Several empirical studies are concerned with measuring the effect of currency and current account crises on economic growth. Using different empirical models this paper serves two aspects. It provides an explicit assessment of country specific factors influencing the costs of crises in terms of...

This paper analyses the relationship between income inequality and economic growth through fiscal policy. To this end, we present and estimate two systems of structural equations with error components through which gross income inequality determines different fiscal policy outcomes, which...

This paper proposes a quantile regression estimator for a model with interactive effects potentially correlated with covariates. We provide conditions under which the estimator is asymptotically Gaussian and we investigate the finite sample performance of the method. An approach to testing the...