We estimate the impact of education on productivity, wage costs and productivity-wage gaps (i.e. profits) using Belgian linked panel data. Findings highlight that educational credentials have a stronger impact on productivity than on wage costs. Firms' profitability is found to rise when lower...

This study estimates the impact of interprovincial and international migration on interprovincial trade using annual data from 1981- 2016 for Canadian provinces. We apply both the gravity and the spatial trade models for estimation using a number of panel estimators. We find that the endogeneity...

Like the most developing countries, the Mediterranean countries have also given priority to the development of tourism industry as a part of their economic growth strategy. This study intends to investigate the relationship between tourism development and economic growth in eight Mediterranean...

It has been envisaged that Sub-Saharan Africa would remain the region with the highest level of food insecurity over the 2015-2025 period. This study, therefore, further investigates food insecurity and food imports in some selected African countries. The regression results based on the fixed...

This paper provides a new statistical model for repeated voluntary contribution mechanism games. In a repeated public goods experiment, contributions in the first round are cross-sectionally independent simply because subjects are randomly selected. Meanwhile, contributions to a public account...

This paper develops a new framework and statistical tools to analyze stock returns using high-frequency data. We consider a continuous-time multifactor model via a continuous-time multivariate regression model incorporating realistic empirical features, such as persistent stochastic volatilities...

We consider a latent group panel structure as recently studied by Su, Shi, and Phillips (2016), where the number of groups is unknown and has to be determined empirically. We propose a testing procedure to determine the number of groups. Our test is a residual-based Lagrange multiplier-type...

The 'One Belt and One Road' (OBOR) project was started by the Chinese government with the aim of achieving sustainable economic development and increasing cooperation with other countries. This project has five major objectives, which include (i) increasing trade flow, (ii) encouraging policy...

The aim of this paper is to analyze the relation between maturity structure, sovereign bond yields and sovereign risk in the Economic and Monetary Union for the period of 1990-2013. The results confirm the existence of an inverse relationship between sovereign bond yields, sovereign risk and the...

The growing economies and the increase in urbanization have increased the process of waste production. Recycling of the wastes resulting from economic processes through certain operations would both decrease the amount of wastes and the need for area to store them and minimize the demand for...