In this paper we model the long-run relationship between per capita CO2 and per capita income for the Spanish economy over the period 1857-2007. According to the Environmental Kuznets Curve (ECK) the relationship between the two variables has an inverted-U shape. However, previous studies for...

Are global temperatures on a warming trend? It is difficult to be certain about trends when there is so much variation in the data and very high correlation from year to year. We investigate the question using statistical time series methods. Our analysis shows that the upward movement over the...

En la medida en que no es posible la política económica si la curva de Oferta Agregada (OA) es vertical y teniendo en cuenta que los gobiernos siempre llevan a cabo acciones de política económica, este trabajo muestra algunas categorías especiales de funciones de producción que son...

Measurement error in short-run expenditures from household surveys may attenuate estimated effects of permanent income on economic outcomes. Repeated observations on households during the year are used to calculate reliability ratios and estimate errors in variables regressions of the impact of...

This study analysis the sustainability of the trade deficits in the two giant economies of Asia, namely India and China with allowance of endogenous structural breaks. We found that trade deficit is sustainable in case of India but not in case of China. This implies that macroeconomic policies...

I analyse the "spurious regression problem" from the Classical Regression Model (CRM) point of view. Simulations show that the autocorrelation corrections suggested by the CRM, e.g., feasible generalised least squares, solve the problem. Estimators are unbiased, consistent, efficient and deliver...

The objective of the study is to quantify the wage gap between native and immigrant women in Spain taking into account differences in their characteristics and the need to control for common support. Using the microdata from the Social Security Records (MCVL) and with a matching procedure of...

We use the unobserved components model of Harvey (1989 and 2011) to estimate the Phillips curve (PC) for the USA and Australia, by augmenting it with oil prices. We found that the level coefficient of inflation and the coefficient of demand pressure have declined and contributed to the...

Using nonlinear modeling tools, this study investigates the comovements between the Mexican and the world stock markets over the last three decades. While the previous works only highlight some evidence of comovements, our paper aims to specify the different time-varying links and mechanisms...

Previous research has argued that foreign direct investment (FDI) exerts a positive and causal impact on the productivity of the recipient countries. However, we find that there is little macroeconomic evidence that FDI fosters productivity growth in recipient countries, including in those with...