Search results for "Variable"
showing 10 items of 1674 documents
Variable selection in the analysis of energy consumption-growth nexus
2015
There is abundant empirical literature that focuses on whether energy consumption is a critical driver of economic growth. The evolution of this literature has largely consisted of attempts to solve the problems and answer the criticisms arising from earlier studies. One of the most common criticisms is that previous work concentrates on the bivariate relationship, energy consumption–economic growth. Many authors try to overcome this critique using control variables. However, the choice of these variables has been ad hoc, made according to the subjective economic rationale of the authors. Our contribution to this literature is to apply a robust probabilistic model to select the explanatory …
The democratization process: An empirical appraisal of the role of political protest
2020
Abstract This paper analyses the role of peaceful and violent protest in the democratization process. We interpret the democratization process as a sequence of phases so as to allow citizens' and elites' preferences for democracy to vary according to the particular phase that a country is experiencing. By doing so we jointly model the probability of protest and of moving through different phases of democracy taking into account time-constant and time-varying unobserved heterogeneity. In particular, we develop a multivariate finite mixture model that introduces a latent variable to capture unobservable factors. On a sample of 171 countries from 1971 to 2010, we provide evidence that protest …
Spreads of bonds issued by sub-sovereign European governments
2017
[EN] This paper identifies the factors that affect the spread of fixed and variable type bonds in the primary and secondary markets issued by sub-sovereign European governments. The analyses of both markets will be done separately to compare whether the determinants in the primary market coincide with those in the secondary market. The analyses will examine the period between February 2008 and December 2013 using data panel estimations. The conclusions are that both markets are approximately identical behavior and the signs of the variables matched what was expected in nearly every case. Also, we concluded that the most important in determining the spread sub-sovereign variable is the sprea…
Income Inequality and Technology Diffusion: Evidence from Developing Countries*
2011
We study the effect of within-country income inequality on the diffusion of mobile phones using data on market penetration in a sample of developing countries from 1985 to 1998. Mobile phones are an example of international technology, originating in industrialized countries and diffusing worldwide. We find that income inequality, as measured by the income share of the highest earning deciles, has a positive effect on the early diffusion of mobile phones and that the estimated effect becomes greater when a measure of agricultural endowments is used as an instrument. The instrumental variable results are robust to weak instruments. Our findings suggest that the diffusion of new technologies …
Urban segregation and unemployment: A case study of the urban area of Marseille – Aix-en-Provence (France)
2018
International audience; In this paper, we study the effects of the spatial organization of the urban area of Marseille – Aix-en-Provence on unemployment there. More specifically, differences in the characteristics of the residential population induce urban stratification with the result that urban structure may affect the probability of employment. In order to evaluate the effects of spatial structure on unemployment, we implement a spatial probit model to reveal the employment probabilities of young adults still living with their parents. Our results support the hypothesis that living in or near a deprived neighborhood decreases the probability of employment.
Using the U.S.Test of Financial Literacyin Germany—Adaptation and validation
2017
ABSTRACTIn this article, the authors present the adaptation and validation processes conducted to render the American Test of Financial Literacy (TFL) suitable for use in Germany (TFL-G). First, they outline the translation procedure followed and the various cultural adjustments made in line with international standards. Next, they present results from the validation of the TFL-G's content and relations between test scores and external variables, including test takers' prior economic education and interest in economic topics. Preliminary analyses of data gathered from expert interviews and cognitive labs, and the results of the first administration to first-year higher education students (N…
TESTING FOR CONTAGION: A CONDITIONAL CORRELATION ANALYSIS
2005
Abstract In this paper, we test for contagion within the East Asian region, contagion being defined as a significant increase in the degree of comovement between stock returns in different countries. For this purpose, we use a parameter stability test, and, following [Rigobon, R., 2003a. On the measurement of the international propagation of shocks: is the transmission stable?, Journal of International Economics], we control for three types of bias, resulting from heteroscedasticity, endogeneity and omitted variable, respectively. The null of interdependence against the alternative of contagion is then tested as an overidentifying restriction. Unlike other studies, our approach is based on …
A comparison of corporate social responsibility engagement in the OECD countries with categorical data
2015
This note presents a new method to compare the engagement level of the OECD countries with the corporate social responsibility (CSR) activities when achievements of their companies are described by CSR standards. We introduce the eigenvector procedure developed by Herrero and Villar (2013), applying the analysis of group performance with categorical data. We find that differences in CSR engagement across OECD countries are quite low in the top and the bottom of the eigenvector classification compared with those of the GRI index. However, there are important differences across countries placed in the middle rank of these two classifications.
RENT CREATION AND RENT SHARING: NEW MEASURES AND IMPACTS ON TOTAL FACTOR PRODUCTIVITY
2019
International audience; This analysis proposes new measures of rent creation and rent sharing and assesses their impact on productivity on cross-country-industry panel data. We find first that: (1) anticompetitive product market regulations positively affect rent creation and (2) employment protection legislation boosts hourly wages, particularly for low-skill workers. However, we find no significant impact of this employment legislation on rent sharing, as the hourly wage increases are offset by a negative impact on hours worked. Second, using regulation indicators as instruments, we find that rent creation and rent sharing both have a substantial negative impact on total factor productivi…
Life cycle and housing decisions: a comparison by age cohorts
2013
The use of decomposition methodologies when the involved variable is continuous is not common in the literature. This article uses this methodology, together with other decomposition methodologies, to explain how age can influence on housing decisions. In particular, we use Spanish data to study whether the age of the householder plays a significant role in influencing household decisions with respect to housing tenure and demand. From the comparison of housing decisions between different groups of households classified by the age of the householders, we conclude that age plays the primary role in explaining the gap between households regarding tenure choice, while it shares its importance …