Search results for "Common factors"
showing 7 items of 7 documents
The euro impact on trade. Long run evidence with structural breaks
2012
In this paper we present new evidence on the euro effect on trade. We use a data set containing all bilateral combinations in a panel of 26 OECD countries during the period 1967-2008. From a methodological point of view, we implement a new generation of tests that allow solving some of the problems derived from the non-stationary nature of the data. To this aim we apply panel tests that account for the presence of cross-section dependence as well as discontinuities in the non-stationary panel data. We test for cointegration between the variables using panel cointegration tests, especially the ones proposed by Banerjee and Carrióni- Silvestre (2010). We also efficiently estimate the long-run…
Facing the music : a critical enquiry into 'the dodo-bird verdict' to develop music psychotherapy theory
2015
‘The dodo-bird verdict’ represents a boggling outcome of research that shows no significant difference between the outcomes of a variety of psychotherapy treatments. Not being able to scientifically discriminate between psychotherapeutic treatments, casts doubt on their theoretical underpinnings, and even on their efficacy. This in turn presents professionals who use psychotherapeutic techniques - including music therapists - with a conundrum: What can explain this inability? And what can be done to solve the problem? Conceptual research methods were used to analyse literature in order to answer these questions. Various weaknesses were identified, both in theory construction and in research…
On international spillovers
2012
Abstract This study investigates the role of international spillovers in generating productivity gains for a panel of 24 OECD countries during the period between 1971 and 2004. We use recent techniques developed in a common factor framework to characterize the global interdependence implied by international spillovers and the diffusion mechanisms involved. Consistently with some recent studies in this field, the evidence suggests that there are substantial cross-country spillovers mainly related to R&D and human capital variables, which contribute significantly to productivity.
The euro impact on trade: long run evidence with structural breaks
2012
In this paper we present new evidence on the euro effect on trade. We use a data set containing all bilateral combinations in a panel of 26 OECD countries during the period 1967-2008. From a methodological point of view, we implement a new generation of tests that allow solving some of the problems derived from the non-stationary nature of the data. To this aim we apply panel tests that account for the presence of cross-section dependence as well as discontinuities in the non-stationary panel data. We test for cointegration between the variables using panel cointegration tests, especially the ones proposed by Banerjee and Carrióni- Silvestre (2010). We also efficiently estimate the long-run…
Is the ‘euro effect’ on trade so small after all? New evidence using gravity equations with panel cointegration techniques
2014
In this paper we present new evidence on the aggregate effect of the euro on trade using data for 26 OECD countries for the period 1967–2008. We strive to fill the gaps present in the previous literature through a second-generation panel cointegration tests and estimators that account for both cross-section dependence in the data and discontinuities in the deterministic and the cointegrating vector in the time dimension. This approach allows us to put the adoption of the euro by EMU members in historical perspective. We argue that the creation of the EMU is best interpreted as a progression of policy changes. Once we control for all of them the euro effect decreases considerably but is stil…
Environmental expenditure interactions among OECD countries, 1995-2017
2021
International audience; How do countries respond to other countries when setting the level of their environmental expenditures? Using data from 1995-2017 on a sample of 28 OECD countries, we examine the nature and extent of strategic interactions in environmental expenditures among OECD countries using a spatial Durbin model including economic and political control variables and both economic and spatial weight matrices reflecting several interaction mechanisms. The results show the existence of significant positive spatial dependence in environmental spending suggesting that OECD countries consider their neighbors' behavior when making policy choices related to environmental expenditures. …