Unlike the federal government, most state governments in the U.S. formally operate under statutory or constitutional constraints which limit their ability to run budget deficits and resort to debt financing. A priori, one would expect to find evidence in favor of an intertemporally balanced budget, or fiscal sustainability, among states, especially those that are characterized by a high degree ...

Çalışmanın amacı, yükselen bir ekonomi için birleşik çerçevede küreselleşme ve finansal gelişmenin gelir eşitsizliği üzerindeki etkilerini ampirik olarak incelemektir. Küreselleşme etkisini incelemek panel veri analizi yöntemi kullanılmıştır. İlk birimler arasında korelasyonun varlığı, Breusch Pegan (2008) LM testi Pesaran, Ullah Yamagata NLM ile incelenmiştir. Değişkenlerin durağanlıkları CADF...

JEL Classification: F16, F43 This study examines the impacts of CO2 emissions on economic growth of Vietnam for the period 1986-2015 by using Autogressive Distributed Lag (ARDL) model. The results reveal that there is cointegration relationship between CO2 emissions and economic growth. In the long run carbon dioxide emissions have a significant negative impact on Vietnam economic growth. There...

We show that personality traits mediate the effect of income on Life Satisfaction. The effect is strong in the case of Neuroticism, which measures the sensitivity to threat and punishment, in both the British Household Panel Survey and the German Socioeconomic Panel. Neuroticism increases the usually observed concavity of the relationship: Individuals with higher Neuroticism score enjoy income ...

China has witnessed a fast economic growth in the recent two decades. However, the heavy energy exploitation seems to show a negative relation to regional economic growth. Thus, the issue is whether the energy production is a curse or blessing for the regional economic growth in China. The present study deploys a comprehensive approach to rigorously prove the validity of a proposed panel data m...

We introduce the multivariate Ornstein-Uhlenbeck process, solve it analytically, and discuss how it generalizes a vast class of continuous-time and discretetime multivariate processes. Relying on the simple geometrical interpretation of the dynamics of the Ornstein-Uhlenbeck process we introduce cointegration and its relationship to statistical arbitrage. We illustrate an application to swap co...

This paper analyses the socioeconomic determinants of life expectancy in Southeastern Europe countries highlighting most important factors that can affect this part Europe. 
 Two Panel Data Regression with fixed–effects model was applied for 20 years from 2000 to 2019. Eight and environmental explanatory variables were used verify their influence on expectancy.
 The analysis highlight...

one of the most important issues about production structure and measurement of factors utilization in industry is the study of substitutability among the production factors. while, energy, for its particular features like finite and the direct relationship between energy usage and air pollution; and specifically abundance of energy resources and allocation of subsidies to different energy carri...

This study investigates the relationships among pollutant emissions, energy consumption and economic development in China during the period 1982-2007 by using one-step GMM-system model under multivariable panel VAR framework, controlling for capital stock and labor force. Regarding the data for all 28 provinces as a whole, we find that there is a unidirectional positive relationship running fro...