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....

Cohort Size and Youth Employment Outcomes This paper utilizes a cross-country panel of 83 developing countries to examine how changes in cohort size are correlated with subsequent employment outcomes for workers at different ages. The results depend on countries’ level of development. In low-income countries, young adults that are born into smaller cohorts are less likely to work, but school at...

Old-age obesity is prevalent and increasing; there is no systematic research on the labor market outcomes of obese elders. Using the data on men aged 70-79 from the Health and Retirement Study and panel econometrics allowing for individual fixed-effects, we present evidence that obesity increases labor supply at old-age: an increase among the obese, compared to the normal weight, of 3.8 percent...

Decomposing volatilities into a common market-driven component and an idiosyncratic itemspecific one is an important issue in financial econometrics. This, however, requires the statistical analysis of large panels of time series, hence faces the usual challenges associated with highdimensional data. Factor model methods in such a context are an ideal tool, but they do not readily apply to the ...

This paper tests whether Antidumping (AD) protection affects the market power of importcompeting domestic firms. We use panel data of about 4000 EU producers that were involved in AD cases to estimate markups before and after the filing of a case. Our findings indicate that AD protection has positive and significant effects on domestic markups, except in cases where import diversion after prote...

This paper investigates the relationship between R&D stock and productivity growth, while taking into account the effect of spatial spillovers. We propose a homogeneous dynamic panel data model and three heterogeneous dynamic panel data models to consider the individual effect as well as endogenous. We also distinguish between the estimated long-run and short-run results. Our results indicate t...

Are happiness patterns structurally the same when comparing poor and rich countries? Using cross-sectional data from the SALDRU93 survey, we show that the relationships between subjective well-being and socioeconomic variables have a similar structure and is U-shaped in age in South Africa as in developed countries. Well-being rises with income. Unemployment is detrimental to reported well-bein...

This paper presents a game theoretic model in which some fraction of output is appropriated from entrepreneurs. Entrepreneurs are able to form a league to prevent this appropriation, but this might not be individually rational because of either the free rider problem or coordination failure. The model also shows that poorer countries are less able to form this league and so might not be able to...

In many situations the individuals who can generate some output must enter a contest for appropriating this output. This paper analyses the investment incentives of such agents and the role of incumbency advantages in the contest. Depending on the advantages, an increase in the productivity of the investment can decrease or increase the amount of investment. The results are applied to autocrats...

Google Econometrics and Unemployment Forecasting The current economic crisis requires fast information to predict economic behavior early, which is difficult at times of structural changes. This paper suggests an innovative new method of using data on internet activity for that purpose. It demonstrates strong correlations between keyword searches and unemployment rates using monthly German data...