The hypotheses of sectoral return rates on regulating capital either gravitating around or converging towards a common value is tested on data for various OECD countries by adopting two panel varying coefficient approaches. Our null hypotheses receive some empirical support, that turns out to be...

Within the framework of dynamic panel data models with mean stationarity, one additional moment condition may remarkably increase the efficiency of the system GMM estimator. This additional condition is essentially a condition of “homoskesdasticity” of the individual effects; it is...

We test the hypotheses of industry return rates either gravitating around or converging towards a common value in Taiwan and New Zealand. We adopt various econometric approaches. The results are then nested in a meta-analytic framework together with those of the past literature. Various kinds of...

In the present paper the link between renewable energy generation and imports dynamics is explored in import demand equations. We find that renewable energy generation reduces import growth. Results display a considerable robustness.

In this paper we test for the gravitation of regulating return rates, namely those return rates yielded by capital goods incorporating the best methods of production. We define them within a vintage capital model taking into consideration capacity utilization, capital depreciation, and wages of...

One of the major virtues of panel data models is the possibility to control for unobserved and unobservable heterogeneity at the unit (individual, firm, sector...) level, even when this is correlated with the variables included on the right hand side of the equation. By assuming an additive...

This paper develops a new moment condition for estimation of linear panel data models. When added to the set of instruments devised by Anderson, Hsiao (1981, 1982) for the dynamic model, the proposed approach can outperform the GMM methods customarily employed for estimation. The proposal builds...

A dramatically large number of corner solutions occur when estimating by (Gaussian) maximum likelihood a simple model for panel data with random effects and autocorrelated errors. This can invalidate results of applications to panel data with a short time dimension, even in a correctly specified...