Search results for " Panel data"

Island Development Model Specialisation: A Panel Data Analysis Comparing Evolutionary Tourism Model, Industrial to Community-Based (2010–2019)

2022

Islands are frequently characterised by an economic structure centred on tourism and the service sector. This specialisation has taken different forms and characterisations concerning the chosen or spontaneously developed model. To understand the development choices and patterns, this article analyses sixteen islands and archipelagos in the European Union over ten years from 2010 to 2019. A panel data analysis was based on critical variables identifying the tourism industry model from those that could represent a proxy of the community-based tourism model. The principal component analysis was adopted to compare the evolutionary trends of these two different ways of choosing the island’s tou…

Human Capital and Income Inequality: Some Facts and Some Puzzles

2012

Using a broad number of indicators from an updated data set on human capital inequality for 146 countries from 1950 to 2010, this paper documents several facts regarding the evolution of income and human capital inequality. The main findings reveal that, in spite of a large reduction in human capital inequality around the world driven by a decline in the number of illiterates of several hundreds of millions of people, the inequality in the distribution of income has hardly changed. In many regions, the income Gini coefficient in 1960 was very similar to that in 2005. Therefore, improvements in literacy are not a sufficient condition to reduce income inequality, even though they improve life…

SHOOTING DOWN THE PRICE: EVIDENCE FROM MAFIA HOMICIDES AND HOUSING MARKET VOLATILITY

2019

In this work, we assess the role of a specific type of organized crime in influencing choices on where living within the city territory, and consequently, volatility in house prices. More specifically, we test how organized crime killing may influence house pricing behaviors. Firstly, we show evidences about how organized crime is associated with higher inequality of housing prices for Italian cities in 2011. Then, by collecting and geo referencing data on the city of Naples for the period 2002-2016, we test for the direct influence of homicides on the relevant territory, as on the neighboring districts. Results show a negative and significant impact of killing on the house prices either fo…

High Wage Workers Match with High Wage Firms: Clear Evidence of the Effects of Limited Mobility Bias

2012

Positive assortative matching implies that high productivity workers and firms match together. However, there is almost no evidence of a positive correlation between the worker and firm contributions in two-way fixed-effects wage equations. This could be the result of a bias caused by standard estimation error. Using German social security records we show that the effect of this bias is substantial in samples with limited inter-firm movement. The correlation between worker and firm contributions to wage equations is unambiguously positive.

Interest rate co-movements, global factors and the long end of the term spread

2010

Disaggregate Real Exchange Rate Behaviour

2007

In this paper, we re-examine the “PPP Puzzle” using sectoral disaggregated data. Specifically, we first analyse the mean reversion speeds of real exchange rates for a number of different sectors in eleven industrial economies and then focus on relating these rates to variables identified in the literature as key determinants of CPI-based real exchange rates, namely: the trade balance, productivity and the mark up. In particular, we seek to understand to what extent the relationships existing at the aggregate level are borne out at the disaggregate level. We believe that this analysis can help shed light on the PPP puzzle.

Interest rate co-movements, global factors and the long end of the term spread

2012

The disconnect between rising short and low long interest rates has been a distinctive feature of the 2000s. Both research and policy circles have argued that international forces, such as global monetary policy (e.g. Rogoff, 2006); international business cycles (e.g. Borio and Filardo, 2007); or a global savings glut (e.g Bernanke, 2005) may be responsible. In this paper, we employ recent advances in panel data econometrics to document the disconnect and link it explicitly to the existence of a global latent factor that dominates the long end of the term spread for the recent period; the saving glut story emerges as the most likely contender for the global factor.

Modeling temporal treatment effects with zero inflated semi-parametric regression models: The case of local development policies in France

2017

International audience; A semi-parametric approach is proposed to estimate the variation along time of the effects of two distinct public policies that were devoted to boost rural development in France over a similar period of time. At a micro data level, it is often observed that the dependent variable, such as local employment, does not vary along time, so that we face a kind of zero inflated phenomenon that cannot be dealt with a continuous response model. We introduce a conditional mixture model which combines a mass at zero and a continuous response. The suggested zero inflated semi-parametric statistical approach relies on the flexibility and modularity of additive models with the abi…

On the distribution of education and democracy

2006

This paper empirically analyzes the influence of the distribution of education on democracy by controlling for unobservable heterogeneity and by taking into account the persistency of some of the variables. The most novel finding is that increase in the education attained by the majority of the population is what matters for the implementation and sustainability of democracy, rather than the average years of schooling. We show this result is robust to issues pertaining omitted variables, outliers, sample selection, or a narrow definition of the variables used to measure democracy.

Hotel chain performance: a gravity-DEA approach

2011

Performance in business management can be measured in terms of competitiveness and efficiency. Generally speaking, competitiveness is a comparative concept of the ability of a firm, sub-sector or country to sell and supply goods and/or services in a given market, as measured by its market share. Particularly in competitive markets, efficiency plays a key role in determining this ability but it is not, by itself, sufficient. Indeed, while competitiveness has more to do with “pursuing the correct strategy” towards the conservation and/or increase of the market share, operational efficiency is mainly a measure of how well the firm, sub-sector or country under study processes inputs to achieve …