Empirical research in public economics, including our own, often uses variation in state and local taxes as an empirical laboratory to estimate causal relationships. A key concern is that other taxes might change at the same time. To assess this concern, we develop a dataset of state (1977-2022)...

This research offers a comprehensive review of the volatility spillover patterns in the Gulf Cooperation Council (GCC) stock market indexes covering daily data from 2/1/2004 to 5/11/2020. During this period, stock markets experienced fluctuations due to unexpected shocks, such as the...

As the world's largest energy consumer, China seeks ways to optimize its energy structure. Using a sample of 30 Chinese provinces, this study develops an indicator system to measure provincial-level energy-structure optimization from 2004 to 2021. We also explore the spatial spillovers of green...

This book concerns the use of concepts from statistical physics in the description of financial systems. These concepts are applied to financial time series to gain an understanding of the behavior of financial markets. The book will be of interest to physicists and economists and professionals...

Analysts associated with the Cowles Commission attached great importance to the distinction between structural and reduced-form models: in their view structural models, but not reduced-form models, allow the analysis of causal relations. They did not present clear justification for this view....

[1,2] are two highly cited studies on the relationship between energy and development. These are two seminal empirical papers touching upon the notions of causation and correlation, respectively, as far as energy economics is concerned. This study is a comprehensive note on these notions'...