This paper investigates the impact of country risks, including political, financial, and economic risks, on the income elasticity of insurance demand. Using the panel smooth transition regression model, we find that there is a significant regime-switching effect concerning the impact of country...

This study applies a recently-developed panel smooth transition regression (PSTR) model and takes into account the potential endogeneity biases in order to establish country-specific and time-specific elasticities of insurance premiums with respect to real income for 36 selected countries from...

This study is the first to apply a newly developed panel smooth transition regression model with the error-correction term (PSECM) to estimate the non-linear relationship among energy consumption, real income and real energy prices for 24 OECD countries. Unlike the existing literature on...