Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average investment share, initial human capital, trade openness, the...

We contribute to the foreign direct investment (FDI) literature by providing first empirical evidence on the relative importance of location factors for service and manufacturing FDI. This is of particular interest as the global stock of inward FDI in the service sector has become predominant in...

This paper introduces a dynamic panel data model where the regression coefficients are allowed to vary across cross-section units. The framework is a mixture model obtained by mixing two dynamic panel data models with different parameters according to some mixing weights. The parameters in the...

This paper investigates the effects of services offshoring on wages using individual level data combined with industry information on offshoring. Our results show that services ofsshoring affects the real wage of low and medium skilled individuals negatively. By contrast, skilled workers benefit...

In Great Britain several policy measures have been implemented in order to increase energy efficiency and to reduce carbon emissions. In the domestic sector, these targets can be achieved by improving space heating efficiency and, hence, decrease heating expenditures. However, before...

Based on a quarterly regulatory dataset for German banks from 1999 to 2004, this paper analyzes the effects of banks’ regulatory capital on the transmission of monetary policy in a system of liquidity networks. The dynamic panel regression results provide evidence in favor of the bank capital...

We test empirically whether people’s life satisfaction depends on their relative income position in the neighbourhood, drawing on a unique dataset, the German Socio-economic Panel Study (SOEP) matched with micro-marketing indicators of population characteristics. Relative deprivation theory...

The paper presents a tractable empirical entry model that integrates strategic considerations and firms’ heterogeneity. Individual entry decisions are derived from a profit function and are specified as the outcome of a discrete game among potential entrants. Using data from a set of...

If the Euro has boosted intra Euro-Area trade, what exactly in the new currency is responsible for such an effect? Most explanations focus on a decrease in exchange rate volatility or in transaction costs, receiving mixed empirical support. After briefly surveying the relevant literature, this...

Questo saggio si inserisce nel dibattito sull’efficacia della politica di coesione dell’Unione Europea e presenta un’analisi sugli effetti dei Fondi strutturali sulla crescita delle regioni italiane dal 1980 al 2007. Un’attenzione particolare è riservata al ruolo che gli aspetti...