This paper empirically assesses how democratization affects real exchange rates. Specifically, in line with the democratic peace theory we argue that democratization reduces currency undervaluation, and thus, might bring misalignments in foreign exchange markets to an end. We test this...

The aim of the paper is to evaluate impacts of active labour market measures in Serbia on the probability of the participants’ employment. In the estimation process of average treatment effects, propensity score-matching method was applied. Its use has considerably reduced the bias in...

In this paper we demonstrate how matching estimators can be used to evaluate policy interventions which are implemented in relatively few regions at different times. Our technique is based on translating calendar time into 'experimental time' to provide a common starting point for entry by...

Despite lower incomes, the self-employed consistently report higher satisfaction with their jobs. But are self-employed individuals also happier, more satisfied with their lives as a whole? High job satisfaction might cause them to neglect other important domains of life, such that the...

This chapter discusses how applied researchers in corporate finance can address endogeneity concerns. We begin by reviewing the sources of endogeneity—omitted variables, simultaneity, and measurement error—and their implications for inference. We then discuss in detail a number of...

We provide a critical discussion of the concept drug-related crime and review methods for estimating its volume, emphasising the importance of an appropriately defined counterfactual. We then construct new estimates for England and Wales in 2003-6, combining data from the Arrestee Survey and...

This paper empirically assesses how democratization affects real exchange rates. By doing this, we combine so far separated strands of the economic literature and argue that democratization reduces currency undervaluation leading to a real exchange rate appreciation. We test this hypothesis...

In observational studies, the non-parametric estimation of a binary treatment effect is often performed by matching each treated individual with a control unit which is similar in observed characteristics (covariates). In practical applications, the reservoir of covariates available may be...

By comparing mean outcomes for a large number of matched samples of participants and nonparticipants we estimate individual earnings effect of the Norwegian labour market training programme (LMT) targeted at unemployed adults in the years 1991-1996. The average training effect on the trained is...