This paper uses micro data from four OECD countries (the United States, Spain, Italy, and the Netherlands), to assess the determinants of household debt holding and to investigate whether or not credit constraints are important for household debt holding. We extend the existing literature in...

This paper addresses heterogeneity in determinants of economic growth in a data-driven way. Instead of defining groups of countries with different growth characteristics a priori, based on, for example, geographical location, we use a finite mixture panel model and endogenous clustering to...

Many studies analyzed in depth how aging affects aggregate economic performance. But analyses of these effects on the employment structure are scarce and they do not consider that consumption patterns, the supply of goods and services, and also sectoral labor productivity are all likely to...

Using micro-level panel data, the paper analyses the impacts of short-term capital flow volatility on new fixed investment spending of publicly traded real sector firms in three major emerging markets that are Argentina, Mexico and Turkey. The empirical results including comprehensive...

Unionists and politicians frequently claim that globalization lowers employment protection of workers. This paper tests this hypothesis in a panel of 28 OECD countries from 1985 to 2003, differentiating between three dimensions of globalization and two labor market segments. While overall...

Unionists and politicians frequently claim that globalization lowers employment protection of workers. This paper tests this hypothesis in a panel of 28 OECD countries from 1985 to 2003, differentiating between three dimensions of globalization and two labor market segments. While overall...

This analysis focuses on determining the role of those factors that are exogenous to the environmental Kuznets curve (EKC) model in counteracting the scale effects (effects of the increase in GDP ceteris paribus) on CO2 and sulphur emissions. For this purpose, first, the EKC model is estimated...

This paper proposes an econometric analysis of the effects of three kinds of socio-political instability ? violent, social and elite ? on foreign aid allocation. Arellano and Bond [1991] application of the generalized method of moments estimations show that the effect of socio-political...

The significant impact of international tourism in stimulating economic growth is especially important from a policy perspective. For this reason, the relationship between international tourism and economic growth would seem to be an interesting and topical empirical issue. The paper...

This paper describes the different institutional frameworks for infrastructure policy in Germany and France. The economic effects of infrastructure are estimated econometrically for German and French regions. We find evidence that regional road infrastructure has a significant impact on regional...