Despite their scarcity in the literature, an abundance of globally regular indirect utility functions, involving as many parameters as desired, exists. They are easily constructed as a function of simple homothetic component utilities.

In this paper we test for the first time whether the driving force behind the negative effect of income uncertainty on owner-occupancy propensities is risk aversion or credit constraints. To disentangle this puzzle we estimate reduced form equations using Italian data. Consistent with the...

We investigate the socio-economic determinants of mortgage delinquency in 12 EU countries and observe that income volatility significantly increases the mortgage delinquency risk. This pattern even holds for borrowers with higher-income profiles if volatility in income is high enough. From this...

We use recently developed cointegration tests that determine endogenously the regime shift to test for bilateral real interest rate convergence (real interest rate parity) in the G7 against the US in the 1974-1995 period. In contrast with previous studies that employed classical regression...

Possible means of rehabilitating the many depleted fisheries in European waters now form a topic of great interest and relavance. This paper uses bioeconomic analysis to predict returns of the Irish Sea Nephrops fishery from rationalisation through three types of management regulations.

The authors employ the econometric techniques of multivariate cointegration and error-correction models to investigate the impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) Exports for eight EU countries.

We analyse the long-run and short-run relationship between merchandise export volume and its determinants, foreign income, relative prices and exchange rate variability, using the techniques of cointegration and error correction. The model was estimated for Irish exports and sectoral exports...

Subsidies in the world's fishing industry have long been considered to have harmful effects on fish stocks. The fishing industry has suffered from over-capacity for many years and more pressure on fish stocks, many of which are already exploited close to extinction. However, this paper argues,...

We use a residual-based cointegration test suggested by Gregory and Hansen (1992) that allows for the determination of a structural break in the cointegrating vector to test for the sustainability of Greek fiscal deficits over the 1958-1992 period. This relatively recent test leads to a...