We investigate the price dynamics of two illiquid agricultural futures contracts traded at the European Exchange in Frankfurt. Based on constant and time-varying vector error correction models, we measure the contribution of each futures market to price discovery. Although results from the...

This paper investigates the impact of aid on growth. A clear departure from the vast majority of the existing literature is that we a disaggregate aid by functional classification. Using the GMM SYS approach to dynamic panel estimator we test the three main competing specifications in the aid...

This article evaluates the impact of a land certification program on credit market outcomes in rural Vietnam. We hypothesize that the representation of property increases households' participation in formal credit markets. We compare credit market outcomes for certified and non-certified...

This paper aims to investigate the main determinants of Telecommunications demand for European countries (EU). For this reason, a panel data set is used consisting of 19 EU countries over the period 1991-2010 capturing the years before and after the liberalization process. The goal is to clarify...

The fixed-b asymptotic framework provides refinements in the use of heteroskedasticity and autocorrelation consistent variance estimators. We show however that the fixed-b limiting distributions of t-statistics are not pivotal when the variance of the underlying data generating process changes...

The aim of this paper is to analyze the intra-urban spatial distribution of employment in the agglomeration of Ile-de-France in 1978 and 1997. In that purpose, exploratory spatial data analysis is used in order to identify employment centers and a sectoral analysis of the CBD and the subcenters...

Since Florida (2002b) revealed the importance of creative skills on economic growth, the notion of "creative class" has been deepened to analyze factors that shape the geography of talent of creative people. In spite of some strong correlations between artistic or cultural vibrancy, Third...

The term urban sprawl is often used to describe apparent inefficiencies of spatial development, including disproportionate growth of urban areas and excessive leapfrog development. In Switzerland, where open space is a scare resource, sprawl takes place all over the country. It goes at the...