This paper shows that smoking intensity, i.e. the amount of nicotine extracted per cigarette smoked, responds to changes in excise taxes and tobacco prices. We exploit data covering the period 1988 to 2006 across many US states. Moreover, we provide new evidence on the importance of cotinine measures in explaining long-run smoking behaviour and we investigate the sensitivity of smoking cessatio...

We analyse two types of belief-dependant models of social preferences: guilt aversion and reciprocity. In particular, we test the relevance of their input variables (second-order beliefs and general dispositions for guilt/reciprocity). The data confirm the predictions of belief-dependant models. Both secondorder beliefs and a participant’s sensitivity to guilt/reciprocity are relevant for the d...

Panel data from the United Kingdom are used to estimate a wage curve that allows simultaneously for time, individual, and spatial effects and which thus finesses the problem of grouped data bias. Once allowance is made for the multilevel and crossclassified nature of the data, estimates of the unemployment elasticity of the wage are seen to be volatile and imprecise. JEL Classification: J30

Spatial econometrics has been an ongoing research …eld. Recently, it has been extended to the panel data settings. The spatial panel data can allow cross sectional dependence as well as state dependence, and it can also enable researchers to control for unknown heteorgeneity. This paper reports some recent developments in the econometric speci…cation and estimation on spatial panel data models....

In this paper we characterise the selection into parenthood for men and women separately and estimate effects of motherhood and fatherhood on wages. We apply propensity score matching exploiting an extensive high-quality register-based data set augmented with family background information. We estimate net effects of parenthood and find that mothers receive 7.4% lower average wages compared to n...

this study examines technical efficiency in iran's banking system using unbalanced panel data for 17 state and private banks during the 1997-2009 period. therefore, technical efficiency of banks was measured through estimating a translog cost function in the form of a panel sfa error compound model. then, the effect of underlying factors including both individual and structural (ownership/...

The aim of this paper is determination of an optimal policy rule for Iranian economy from an Islamic perspective. This study draws on an Islamic instrument known as the Musharakah contract to design a dynamic stochastic general equilibrium model. In this model the interest rate is no longer considered as a monetary policy instrument and the focus is on the impact of economic shocks on the Dynam...

The purpose of this study is to investigate the impact of exchange rate misalignment on inflation persistence. For this purpose, Vector Auto Regression method and Markov Switching model is used for quarterly data during 1989:4 -2014:3. The results show that, the impact of liquidity growth and exchange rate misalignment on inflation persistence is positive. On the other hand, GDP growth has a ne...

Health Care Expenditure and Income in the OECD Reconsidered: Evidence from Panel Data This paper reconsiders the long-run economic relationship between health care expenditure and income using a panel of 20 OECD countries observed over the period 1971-2004. In particular, the paper studies the non-stationarity and cointegration properties between health care spending and income. This is done in...