In spite of the common wisdom that poverty breeds terrorism, econometric tests usually find that terrorism is influenced by population and various measures of democratic freedom, but not per capita GDP. Unlike previous studies, we use a data set containing separate measures of domestic and...

This paper employs an overlapping generations model with output uncertainty to investigate how second-best social security schemes can be used to affect expected welfare. As with actual pension plans, our social security plan entails a proportional tax on earned income but provides a rebate that...

Enders and Granger provide critical values to test the null hypothesis of a unit-root against the alternative of threshold adjustment. However, in obtaining their critical values, Enders and Granger did not use a consistent estimate of the threshold nor did they use a lag-augmented data...