Services sectors' agglomeration in the European Union, its development over time, its driving factors and dynamic tendencies will be empirically investigated in this study. Locational gini coefficients are computed taking EU-KLEMS data for 14 European countries covering 22 services sectors over...

In this paper we develop empirical measures for the strength of spillover effects. Modifying and extending the framework by Diebold and Yilmaz (2011), we quantify spillovers between sovereign credit markets and banks in the euro area. Spillovers are estimated recursively from a vector...

The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design of robust policy guides aiming to maintain stability in...

This paper aims to assess the relationship among fiscal variables (government revenue and expenditure) in Sub-Saharan African countries. Using yearly data for the period between 1980 and 2011 in fifteen ECOWAS countries, a weak long-run relationship between government expenditure and revenue...

This paper examines changes in the balance sheets of the banking system in five East Asian economies which were affected by the 1997 Asian Crisis. These countries have persistently accumulated international reserves since the crisis. This paper estimates the impact of reserve accumulation on...

In this paper we study income polarization by first comparing the efficiency of two statistical models to identify the number of poles in the income distribution empirically. The statistical models used are a multi-resolution analysis (MRA) and a log-normal approach (LNA). We then apply the...

Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts to answer the question what the direction and strength of this possible impact is, examining the relationship between corporate investment and inflation on the sample of 21 OECD...

Using a large administrative dataset for Germany, this paper compares employment developments in exiting and surviving establishments. For both West and East Germany we find a clear 'shadow of death' effect reflecting lingering illness: establishments shrink dramatically already several years...

To obtain reliable estimates of the effects of single-sex education, I exploit the random assignment of students to single-sex and coeducational schools in South Korea. The results suggest that single-sex schooling is beneficial for girls in math, but has no effects for boys. Moreover,...

The Kyoto Protocol's success or failure should be evaluated against the unobserved counterfactual of no treatment. This requires instrumental variables. We find that countries' membership in the International Criminal Court (ICC) predicts Kyoto ratification in a panel model. Both multilateral...