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In this paper we look at the impact of broad policy reforms on the levels of corruption. We use a structural break … approach to identify country specific time periods in which significant shifts in corruption levels take place. We then … equity market liberalization. We find robust support for the hypothesis that episodes of reduction in corruption levels tend …
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A country's political and economic institutions are critical for economic prosperity. The literature abounds with institutional measures, precisely because institutions are not one dimensional. We use panel-unit-root and cointegration tests to examine the time-series properties of several...
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While this is typically ignored, the properties of the stochastic process followed by aggregate consumption affect the estimates of the costs of fluctuations. This paper pursues two approaches to modelling aggregate consumption dynamics and to measuring how much society dislikes fluctuations,...
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