This paper uses the multiple variance ratio test procedure developed by Chow and Denning (1993) to test for a random walk of stock returns on the Vienna Stock Exchange. I find that with daily data the test rejects the random walk hypothesis at all conventional significance levels for each and...

The experiences of 259 regions in 21 European countries with within country GDP per capita and labour productivity growth suggest that variables associated with pro-active, growth oriented strategies are consistently more important predictors of successful regional development than variables...

We ask how reform of migration law intended to increase the selectivity of migration (the so-called integration agreement regulation in 2003) in Austria impacted on the education structure of migrants to Austria. To identify the effects of this reform, we use the fact that it applied only to...

This article derives generalized method of moment-based Wald tests for conditional convergence in terms of the second and third central moments (conditional "σ"- and "ζ"-convergence). Monte Carlo simulations indicate that the proposed tests are properly sized and equipped with enough power for...

This paper addresses the issue whether the differences in national unemployment rates between the Czech and Slovak Republics are in part associated with different responses of regional labor markets. We attempt to assess the relative importance of regional and national shocks in explaining...

This paper analyses the effects of three previous enlargements of the European Union on newly joining and old member states. We find that overall the effects of enlargements on regional employment, wage and population growth, as well as investment rates were small. We also find substantial...

We estimate a linear approximation of the market potential function for Europe as derived in geography and trade models. Using a spatial econometric estimation approach, border effects are identified by a differential impact of nearby regions' purchasing power, depending on whether two regions...

This paper explores the willingness to migrate in the Czech Republic. We find that variables measuring regional labour market conditions and amenities contribute little to explaining the willingness to migrate, but that personal and household characteristics are more important. Persons owning...

We summarize the empirical literature on regional labour market development in transition. This literature suggests that transition has been associated with increased regional disparities and there is some indication of polarisation. Capital cities and regions closer to EU-borders developed...