The main objective of this paper is to investigate the effects of monetary regime (countries with inflation targeting monetary policy versus countries with exchange rate anchor) on the extent of exchange rate pass-through over the period of 1999-2010. To achieve this objective, the econometric model has been estimated by Dynamic Panel Data approach and Arrelano- Bond (AB) method. The empirical ...

Regional Economic Growth and Human Capital: The Role of Overeducation The paper analyses the link between human capital and regional economic growth in the European Union. Using various indicators of human capital calculated from census microdata, we conclude that the recent economic performance of European regions is associated with an increase in overeducation. In fact, measures of educationa...

A spatial dynamic panel data approach is adopted to study regional growth convergence in the U.S. economy. In the neoclassical growth model, regions and countries are assumed to be independent from each other, which may not be valid in the real world. We introduce technological spillovers into the neoclassical framework, showing that the convergence rate is higher and there is spatial interacti...

This paper contributes to the literature on temporary migration by developing and solving a model of repeated circular migration that accounts for saving behavior. Using Mexican Migrant Project data on undocumented migrants and non-migrants, I estimate the parameters of the model through the Method of Simulated Moments. The intensity of U.S. border enforcement is found to have a significant pos...

In this paper, I document that workers in larger cities have significantly more occupational options than smaller ones. They are able to form better matches and earn higher wages. also note differences occupation reallocation patterns across cities. develop a dynamic model of choice microfounds agglomeration economies captures the empirical patterns. The calibration suggests match quality accou...

Spillovers have attracted wide attention in the areas of research in economics during the past decades. The reason for the interest in the topic lies in their important role in endogenous growth theory and the explanation of productivity growth. This paper investigates the spatial spillover of different types of public infrastructure on economic growth across EU-28 NUTS-II regions during 1995-2...

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...

This paper investigates the impact of stock markets and banks on economic growth using a panel data set for the period 1976-98 and applying recent GMM techniques developed for dynamic panels. On balance, we find that stock markets and banks positively influence economic growth and these findings are not due to potential biases induced by simultaneity, omitted variables or unobserved country-spe...