Corsetti and Roubini (1991) reported that the government finances of Greece, Ireland, Italy and the Netherlands did not satisfy the intertemporal budget constraint (IBC). We re-examine this issue by utilizing a new empirical approach and extended data set. Structural shifts, an issue which...

Coe and Helpman (1995) among others report positive and equivalent R&D spillovers across groups of countries. However, the nature of their econometric tests does not address the heterogeneity of knowledge diffusion across countries. We empirically examine these issues in a sample of 10 OECD...

Coe and Helpman (1995) and others report positive and equivalent R&D spillovers across G7 countries. We argue that their homogeneity constraint on spillovers across G7 countries is inappropriate, and show that it is rejected by the data. Extending the data set and applying new empirical...

Coe and Helpman (1995) and others report positive and equivalent R&D spillovers across G7 countries. We argue that their homogeneity constraint on spillovers across G7 countries is inappropriate, and show that it is rejected by the data. Extending the data set and applying new empirical...

Coe and Helpman (1995) among others report positive and equivalent R&D spillovers across groups of countries. However, the nature of their econometric tests does not address the heterogeneity of knowledge diffusion across countries. We empirically examine these issues in a sample of 10 OECD...

We examine Greece’s external trade following accession to the EU, placing particular emphasis on the 1990s. A large part of our analysis is based on unpublished, disaggregated data sets. Our main findings are: (i) in the 1990s Greece sustained heavy competitiveness losses in those sectors...

This paper analyses a model of non-linear exchange rate adjustment that extends the literature by allowing asymmetric responses to over- and under-valuations. Applying the model to Greece and Turkey, we find that adjustment is asymmetric and that exchange rates depend on the sign as well as the...

This paper analyses a model of non-linear exchange rate adjustment that extends the literature by allowing asymmetric responses to over- and under-valuations. Applying the model to Greece and Turkey, we find that adjustment is asymmetric and that exchange rates depend on the sign as well as the...

Non-linear public debt adjustment and structural breaks in fiscal policy may affect tests of public debt sustainability. Existing studies address these issues separately. No study has considered both. We address this gap by focusing on Greece, one of the most highly-indebted EMU countries. We...

Non-linear public debt adjustment and structural breaks in fiscal policy may affect tests of public debt sustainability. Existing studies address these issues separately. No study has considered both. We address this gap by focusing on Greece, one of the most highly-indebted EMU countries. We...