This paper develops a novel asymptotic theory for panel models with common shocks. We assume that contemporaneous … terms. Several characteristics of the panel are considered: cross-sectional and time-series dimensions can either be fixed …

panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price …

This paper considers a class of GMM estimators for general dynamic panel models, allowing for cross sectional …

paper demonstrates that the quasi-MLE can effectively deal with the incidental parameters problem. An inferential theory …

of a dynamic panel data model for German states between 1970 and 2006. Our preferred specification relates changes in …-run perspective in a co-integration model. Here we specify a Panel-ECM and look at its short run adjustment to judge about the share … smoothening characteristics of income transfers to the East. As a robustness check we also apply the Panel-ECM with spatially …

We look at a panel of Latin American countries from 1970 and 2016 to enquire how exchange rate pass-through has changed … that ERPT changes with the kind of shock and the monetary policy response to it. …