This paper explores the relationship between the inequality of income distribution and the economic growth of 20 Latin American and Caribbean countries during the 1980-2010 period. The study shows that the features of his relationship depend on the income level. In general, inequality is harmful...

We assess how demand and supply shocks (identified via the Blanchard and Quah (1989) SVAR approach) in 14 OECD countries affect mark-ups. We find that individual responses of markups to demand shocks push down the markup for most countries (confirmed in the panel analysis). On the other hand, a...

A problematic outcome of the cross sectional study of convergence is that developing economies are often estimated to be above their steady states, implying that they have too much capital per worker. This paper introduces a method to estimate steady states in a way that can explain this...

Spanish Abstract: Este artículo tiene como objetivo comprobar la eficiencia en sentido semifuerte – de acuerdo a la definición de Fama (1970) – del mercado internacional del azúcar. Para lograr este objetivo, se seguirá a Ferré y Hall (2002), quienes demuestran que la existencia de...

This article empirically examines the consequences of political uncertainty on the nominal exchange rate returns and the volatility for over hundred countries around the world. We used the monthly political risk data from the International Country Risk Guide and formed three measures of...

In the present paper it will be econometrically shown that economic freedom has a positive impact on share prices. Our data cover for the period 2000-2012 many countries of EU as well as Japan and the United States. Data are taken from Eurostat and World Economic Freedom Indicators. Eviews...

In this paper it is pointed out that tourism sector, apart from its contribution to economic growth, it also improves income distribution but only in the southern European countries. Further, it is shown that economic growth and crisis do not affect income distribution. Data are taken from...

In this paper, we propose a panel data semiparametric varying-coefficient model in which covariates (variables affecting the coefficients) are purely categorical. This model has two features: first, fixed effects are included to allow for correlation between individual unobserved heterogeneity...

This paper examines empirically whether differences in legal competences of National Regulatory Authorities (NRAs) of European gas and electricity markets are rationally aligned to the corresponding countries' divergent levels of 1) security, 2) competitiveness, and 3) carbon-neutrality of...