The empirical literature tries to identify credit rationing and its determinants by using balance sheet data or evidence from corporate surveys. Observational equivalence, identification problems, and interview biases are serious problems in these studies. We analyse the determinants of credit...

Over the past decades, research effort in high income countries has substantially increased. Meanwhile, the growth rates of per capita output have been rather stable. The first goal of this paper is to investigate the reasons for such trends. The second goal of the paper is to show that the...

Growth models predict that taxation may have permanent effects on per capita real GDP growth. We look at, and test this prediction for 21 OECD countries, over the period 1965-2010. We employ a semi-parametric technique - namely, a Finite Mixture model - to estimate an augmented version of the...

Our aim is to analyze the effect of public subsidies on the development path of Italian small and medium enterprises (SMEs). Public subsidies to SMEs have been often used with the aim of favoring economic growth in less developed regions. The main theoretical arguments justifying this...

The paper analyzes the relationship between stock prices and fundamentals for a large sample of US stocks in the last ten years using a random coefficient model. Heterogeneity and omitted variable bias are properly taken into account with model coefficients being allowed to vary across time and...

Our aim is to analyze the effect of public subsidies on the development path of Italian small and medium enterprises (SMEs). Public subsidies to SMEs have been often used with the aim of favoring economic growth in less developed regions. The main theoretical arguments justifying this...

We investigate the implications of the OECD support for agriculture on the headcount poverty rates of developing countries. Following the strategy proposed by McMillan, Peterson Zwane, and Ashraf (2005, 2007), we estimate the cross-country empirical framework building a new OECD policy index and...

We provide aggregate macroeconomic evidence on how, in the long-run, a diverse degree of complexity in production may affect not only the rate of economic growth, but also the correlation between the latter, population growth and the monopolistic (intermediate) markups. For a sample of OECD...