Do fiscal rules decrease public investment? Evidence from European panel data

Expansionary Fiscal Contractions? Evidence from Panel Data

We examine the ability of the Expansionary Fiscal Contraction (EFC) hypothesis to explain the performance of of OECD economies during times of crisis. We ̄nd some limited evidence in its favour: if public consumption is reduced in response to a ̄scal crisis (as de ̄ned by a high level of debt), private consumption does seem to increase. However the size of the e®ect is smaller than that typicall...

Investment, Efficiency, and Credit Rationing: Evidence from Hungarian Panel Data

Relying upon a rich and unique panel of Hungarian firms over 7 years, from 1992 up to 1998, this paper estimates simultaneously TFP, Total Factor Productivity, identified as efficiency, and the parameters of a model where investment depends upon internal funds, wages, and sales, as in Prasnikar J. and Svejnar J. (2000). It shows that while real investment is higher in foreign firms, the improve...

Do Multinational Enterprises Substitute Parent Jobs for Foreign Ones? Evidence from European Firm-level Panel Data

Do Multinational Enterprises Substitute Parent Jobs for Foreign Ones? Evidence from European Firm-Level Panel Data* This Paper analyses the demand for labour by home multinational enterprises (MNEs) in Europe. To this end we use a unique firm-level panel data set of more than 1,200 European multinational enterprises and their subsidiaries that are located in either the European Union, Central a...

Higher Education, Real Income And Real Investment In The Selected OIC Members: Evidence From ARDL And Panel Data Approaches

Motorways, tolls and road safety. Evidence from European Panel Data

The use of tolls is being widespread around the world. Its ability to fund infrastructure projects and to solve budget constraints have been the main rationale behind its renewed interest. However, less attention has been payed to the safety effects derived from this policy in a moment of increasing concern on road fatalities. Pricing best infrastructures shifts some drivers onto worse alternat...