The paper investigates dynamic linkages between entry and exit rates in Brazilian manufacturing in the context of 231 (four-digit) industries during the 1996– 2005 period. The empirical analysis focuses on the estimation of a dynamic panel data model for entry and exit rates, and controls for the business cycle and structural characteristics, such as industrial concentration and suboptimal scal...

We collect Word-of-mouth (WOM) data on movies from Twitter and employ both a time-series model and a dynamic panel data model to study the influence of WOM on movie box office revenues. Compared with most previous literature that measures WOM through its volume or dispersion, we directly measure the number of recipients of each WOM message using the unique social structural information on Twitt...

The paper aims to identify whether production characteristics, such as technical efficiency and returns to scale, affect takeovers. Applying a two-stage procedure on original panel data on French cheese manufacturers, the paper first estimates firm-specific productive efficiency and scale economies using Data Envelopment Analysis. The paper then uses the findings of the first stage to evaluate ...

This paper analyzes tobacco demand within a discrete choice framework. Using binomial and multinomial logit models with random effects, and an unbalanced panel data set of Norwegian households over a twenty year period, we first consider the decisions a) whether to smoke or not, and b) given the choice is to smoke, whether to smoke hand rolled or manufactured cigarettes. Next, we consider a mul...

The Chinese banking sector has gone through a consistent process of the reform which includes liberalization of the business to foreign banks, privatization and listing bank shares, allowing diversifications into intermediary business beyond the traditional deposit and loan activities. In the mean time, the changing structures of the banking sector and the favourable economic condition in the r...

Macroeconomic Effects of Short-Term Training Measures on the Matching Process in Western Germany This paper investigates the macroeconomic effects of short term training measures on the matching processes in West Germany. The empirical analysis is based on regional data for local employment office districts for the period from January 2003 to December 2004. The empirical model relies on a dynam...

This paper derives several Lagrange Multiplier tests for the panel data regression model wih spatial error correlation. These tests draw upon two strands of earlier work. The Þrst is the LM tests for the spatial error correlation model discussed in Anselin (1988, 1999) and Anselin, Bera, Florax and Yoon (1996), and the second is the LM tests for the error component panel data model discussed in...

We investigate whether the reengineering efforts of companies to leverage potential benefits of using Information Technology (IT) in their business processes improve their productivity and overall firm performance. We analyze firm-level data that covers the period between 1984 and 2004 using a panel data model. We employ standard variables for measuring firm productivity and performance, includ...

The paper describes a simple, generic and yet highly accurate Efficient Importance Sampling (EIS) Monte Carlo (MC) procedure for the evaluation of high-dimensional numerical integrals. EIS is based upon a sequence of auxiliary weighted regressions which actually are linear under appropriate conditions. It can be used to evaluate likelihood functions and byproducts thereof, such as ML estimators...