In January, 2005, the EU launched the first international emissions trading system (EU ETS), aimed at reducing carbon emissions in a cost-effective way by means of a market-based instrument. In this paper, we use the treatment/control, before/after design of the natural experiment approach to...

In January, 2005, the EU launched the first international emissions trading system (EU ETS), aimed at reducing carbon emissions in a cost-effective way by means of a market-based instrument. In this paper, we use the treatment/control, before/after design of the natural experiment approach to...

We investigate if, and under which conditions, the distinction between dictatorial and incentive-based policy interventions affects the capacity of Instrument Variable (IV) methods to estimate the relevant treatment effect parameter of an outcome equation. The analysis is set in a non-trivial...

The paper aims to examine policy-anchor hypotheses by analysing the impact of WTO accession process on domestic economic policies and institutions of newly acceded WTO members. It shows that the process of obtaining WTO membership, under certain circumstances, can lead to a positive improvement...

We investigate if, and under which conditions, the distinction between dictatorial and incentive-based policy interventions affects the capacity of Instrument Variable (IV) methods to estimate the relevant treatment effect parameter of an outcome equation. The analysis is set in a non-trivial...

The study analyzed the relationship between relevant macroeconomic variables and the real effective exchange rate (REER) in Nigeria based on the Behavioural Equilibrium Exchange Rate (BEER) approach. An Autoregressive Distributed Lag (ARDL) model was estimated to obtain the equilibrium REER...

The purpose of this paper is threefold: first, we warn analysts against the use of structural coeffcient estimates alone for deducing quantitative inferences concerning many policy experiments. Second, we offer a potential solution to the problem by proposing a mutatis mutandis approach to...

This paper examines the impact of different types of oil price shocks on the U.S. economy, using a factor-augmented VAR (FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for the interaction between the oil market and the...

This chapter describes the main impact evaluation methods, both experimental and quasi-experimental, and the statistical model underlying them. Some of the most important methodological advances to have recently been put forward in this field of research are presented. We focus not only on the...

We develop a factor-augmented vector autoregression model to estimate the effects of changes in U.S. monetary policy and economic policy uncertainty have on the Chinese housing, equity and loan markets. We find that the decline in the U.S. policy rate since the Great Recession has led to a...