This paper uses data from the 2000-2008 waves of the German Socio-economic Panel dataset (GSOEP) to provide first estimates of the impact that deprivation in various life domains has on individual well-being. Using a deprivation index proposed by Bossert et al. (2007) and a random effects model...

This paper documents stylized facts of international medium-term business cycles by exploring the pattern of comovement between a catching-up economy, Spain, and each of the obvious candidate countries to technological leadership of the 1950-2007 period, the U.S., France, Germany, Italy and the...

Recent literature on the border effect fostered research on informal barriers to trade and the role of networks promoting it. In relation to social networks, it has been shown that the intensity of trade of goods is positively correlated with the migration flows between any pair of...

We use the economic theory approach to index numbers in order to improve the existing definitions and decompositions of generalized transport costs (GTCs), and thus to obtain a better understanding of their economic and infrastructure determinants. Using this approach we accurately measure the...

We use the 2000-2008 waves of the German Socioeconomic Panel to examine overeducation transitions. The results are based on a first-order Markov model that allows us to account for both the initial conditions problem and for potential endogeneity in attrition. We find that overeducation...

We simulate and estimate a new Keynesian search and matching model with sticky wages in which capital has to be financed with cash, at least partially. Our objective is to assess the ability of this framework to account for the persistence of output and inflation observed in the data. We find...

Current proposals to address the European sovereign debt crisis envision some sort of fiscal union to complement the Economic and Monetary Union, backed by stronger sanctions against countries that deviate from budget balance. We argue that sanctions are an indirect approach to balancing...

This paper introduces the possibility of signaling into a finite-depositor version of the Diamond-Dybvig model. More precisely, the decision to keep the funds in the bank is assumed to be unobservable,but depositors are allowed to make it observable by signaling, at a cost. Depositors decide...

We propose a framework to analyze convergence between regions, incorporating the public sector and technological knowledge spillovers in the context of a Neoclassical Growth Model. Secondly, we apply novel estimation methods pertaining to the spatial econometrics literature introducing a spatial...

Effluent limits are frequently based on a uniform emission standard, which applies to all polluting facilities within a single industry. However, the implementation of many environmental protection laws does not lead to uniform effluent limits due to considerations of local environmental...