abstract this study uses annual data over the period 2005-2014 and the panel vecm approach to examine financial inclusion and monetary policy effectiveness in africa. the study shows that financial inclusion and monetary policy effectiveness are linked by a set of long-run relationships. policy reaction to the positive financial inclusion shock is not significant. policy reaction to the positiv...

almost all countries have faced the urbanization. in the long run, changes in the production technology have caused migration from rural to urban areas. existing cities have grown and new ones have been created. this is named as “urban development” in the urban literature. cites are created because of economies of scale in production and consumption. there are different cities with different si...

APrIl 2017 IZA DP No. 10697 The Effects of Physical Restructuring on the Socioeconomic Status of Neighborhoods: Selective Migration and Upgrading In the last few decades, urban restructuring programs have been implemented in many Western European cities with the main goal of combating a variety of socioeconomic problems in deprived neighborhoods. The main instrument of restructuring has been ho...

This paper proposes the GMM estimation of the spatial dynamic panel data model with …xed e¤ects when n is large, and T can be large, but small relative to n. By eliminating …xed e¤ects to begin with, we investigate asymptotic properties of the estimators, where exogenous and predetermined variables are used as instruments. For the spatial dynamic panel data model, as compared with the dynamic p...

We analyse the effect of the anonymisation method multiplicative stochastic noise on the within estimation of a linear panel model. In particular, we concentrate on the panel model with serially correlated regressors. In addition to anonymisation as such, the serial correlation in a data set with only few points in time increases the bias of the within estimator and therefore must be taken into...

Traditional tools of welfare economics identify the envy-related welfare loss from conspicuous consumption only under very strong assumptions. Measured income and life satisfaction offers an alternative for estimating such consumption externalities. The approach is developed in the context of luxury car consumption (Ferraris and Porsches) in Switzerland. Results from household panel data and fi...

In this paper a Bayesian approach to unit root testing for panel data models is proposed based on the comparison of stationary autoregressive models with and without individual deterministic trends, with their counterpart models with a unit autoregressive root. This is done under cross-sectional dependence among the units of the panel. Simulation experiments are conducted with the aim to assess...

This paper studies the impact of immigration to United States on vote share for Republican Party using county-level data from 1990 2016. Our main contribution is show that an increase in high-skilled immigrants decreases votes, while inflow low-skilled increases it. These effects are mainly due indirect existing citizens’ and this independent origin country race immigrants. We find political ef...