Abstract In this study, we applied recently developed panel unit root and cointegration techniques to examine the long-run real income per capita and price elasticities for demand of electricity in selected Middle East and North African (MENA) countries using an annual data series from 1990 to 2011.Our main finding from the panel analysis is that the demand for electricity is highly price ela...

This paper seeks to determine how demographic and non-demographic factors have contributed to past changes in Canada’s real housing prices as well as their possible impact over the next twenty years. To this goal, we estimate with annual data from 1956 to1997 a structural model of the Canadian housing market. This model possesses two important long-run properties, that is, the longrun supply cu...

The basic model for valuation of firm is the Dividend Discount Model (DDM). When investors buy stocks, they expect to receive two types of cash flow: dividend in the period during which the stock is owned, and the expected sales price at the end of the period. In the extreme example, the investor keeps the stock until the company is liquidated; in such a case, the liquidating dividend becomes t...

We document a relationship between income inequality and variability in aggregate consumption growth. In high-income countries, greater income inequality is associated with more volatility in consumption growth, whereas in lower-income countries, higher levels of income inequality are associated with less volatility. We present weaker evidence that variability in real GDP growth is also related...

Income inequalities widened considerably from 1987 to 2007 in Finland. We compared the association between household income and health problems across three periods and in several different ways of modelling the dependence. Our aim was to find out whether the change in the distribution of income might have led to wider income-related inequalities in health problems. The data represent an 11-per...