We present a new genuine jackknife estimator for instrumental variable inference with unknown heteroskedasticity. It weighs observations such that many- instruments consistency is guaranteed while the signal component in the data is maintained. We show that this results in a smaller signal...

In this paper we extend the results of Kitamura (1997) for BEL to the more general class of GEL estimators. The resulting BGEL estimator is proved to be consistent and asymptotically normal and attains the semiparametric lower bound. In addition, we define the BGEL version of the classical...

We build a growth model in which tourism development generates pollution while tourists are pollution adverse. We establish that long run positive growth exists only for a particular value of tourists pollution adversion. Furthermore, we show that an intensive use of facilities is associated...

This paper contributes to the debate on how to make operational the concept of sustainable urban mobility and advocates the use of a mixed – top-down and bottom-up – approach to the generation of priorities for sustainable urban mobility. In particular, we tested whether a common list of...

Patient mobility is a crucial phenomenon in contexts of hospital competition based on quality and driven by patient choice. This study examines inter-regional patient mobility in the Italian National Health Service, a regionally decentralised tax-funded system in which in-patient hospital...

The study of sustainability transitions (SUSTRANs) is an emerging research field that provides useful keys to understand how more sustainable ways to meet societal needs may emerge and develop. As stressed by some scholars, much more work is needed to make political institutions endogenous to...

Most extant explanations of financial crises emphasise the role played by negative shocks on the liability side of a bank’s balance sheet. The vast literature on bank runs induced policy makers to build up a reputation as institutions willing to do anything to support the orderly fulfillment...

We consider the effect on performance of very large controlling shareholders, who are mostly organized in voting blocks and business groups, in a sample of Belgian listed firms from 1991 to 2006. Since the shape of the relation between ownership and firm value is a controversial issue in...

The aim of this article is to define the Lithuanian public pension system reforms, influenced by the last economic crisis and social challenges (ageing processes, raising social expenses). The paper also investigates the influence that current demographic trends will exert on the financial...

We investigate the relationship between quality of politicians and reward from public office in a game between parties and citizens, in which parties play a crucial role in the selection of candidates. Citizens who wish to become politicians have to become party activists first. Parties produce...