politicians generates a procyclical bias in government spending. The introduction of fiscal transparency generates two new … redictions: 1) the procyclical bias in fiscal policy arises only in good times; and 2) a higher degree of fiscal transparency … reduces the bias in good times. We find solid empirical support for both predictions using data on both OECD countries and a …

associated with a significantly lower estimate for the income effect, whereas controlling for endogeneity bias delivers … significantly higher estimates. This points to a negative bias in the OLS estimate, and thus approves previous literature's findings …. Capturing endogeneity appears to be essential in studies on life satisfaction. The negative bias apparently is highest for the …