This paper examines economic returns to schooling in urban China using ordinary least square (OLS) and instrumental variable (IV) methodologies. First, we find that OLS estimates of the returns to education are lower in China than in other transition economies, whereas IV estimates are higher in...

This paper empirically analyzed the money demand function in the Sub-Saharan African region using a nonstationary panel data analysis. We conducted the analysis on 35 countries based on annual data from 1980 to 2005. The empirical results revealed that there exists a cointegrating relationship...

In order to examine whether Chinese employers discriminated against females during the hiring process in 1996 and 2005, we used the China Health and Nutrition Survey (CHNS) questionnaire (1997 data, pooled data of 2004 and 2006) by referring to Johnson (1983) and Mohanty (1998). Empirical...

This paper uses the BOJ index published by the Bank of Japan to empirically analyze the relationship between the commodity price index and macroeconomic variables in Japan. The BOJ index was found to be valid as a leading indicator of the consumer price index before the zero interest policy was...

This paper examines the relationship between globalization, financial deepening, and inequality in sub-Saharan Africa between 1980 and 2002. We provide the first detailed econometric analysis in this regard covering the entire sub-Saharan African region; such an analysis has hardly been...

This paper empirically analyzes India’s monetary policy reaction function by applying the Taylor (1993) rule and its open-economy version which employs dynamic OLS. The analysis uses monthly data from the period of April 1998 to December 2007. When the simple Taylor rule was estimated for...

We analyzed the stability of the money demand function using panel data from January 1999 through March 2006, covering the 11 EU countries (Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain). First, we found that the money demand function...