The paper sets up a nesting spatial regression model incorpora ting heteroskedastic shocks, and discusses hypothesis testing in both nested and nonnested cases in a quasi-likelihood framework, suggesting directions for future research effort. JEL classification: C21.

â â â â â  â  in this paper, we address the question that does fdi alone affect economic growth or interaction of fdi and human capital is required to boost economic growth. we develop the model with an expanding variety of products. we estimate the model using some advanced tests utilizing data on fdi flows from developed countries. we find stronger complementary effects between fdi and human ...

sensitivity analysis with respect to the functional forms provides estimates of the uncertainties involved in choosing a specific functional structure. this is vital in cge modeling where it is conventional to take elasticities from other studies. in the present study, the robustness of model results with respect to the functional form is checked. in one scenario, the production function is rep...

development projects in natural water resources like rivers and lakes, specially transferring water to use in agriculture, domestic and industrial sector without considering environmental values, causes irrecoverable and irreversible damage to ecosystem and future options. if we consider the future generation and species rights, those damages and costs can be very much than we take in. the abov...

by the advent and development of information and communication technology (ict), the micro and macro economic variables are changed. in other words, the exclusive characteristics of ict can alter the job framework in a society. this fact will be done in our country, too. because of the importance of the employment issue in iran, a research in about of effect of ict on this variable in iran is s...

this research aims to use var as a risk measure to find the optimum portfolio in tehran stock exchange. in this research var which is calculated with parametric method by using the 15 daily returns of 100 companies from march 21, 2001 to november 22, 2007 was added to the markowitz model of portfolio optimization as additional constraint. by changing the accepted var and accepted confidence lev...

This study estimates the effects of Internet usage, financial development and trade openness on economic growth using annual time series data for South Africa for the period 1991-2013. Structural unit root test and Johansen and ARDL cointegration tests are performed to examine the long run relationship amongst Internet usage, financial development, trade openness and economic growth. Findings f...

This paper proposes that the decline in federal disability insurance (DI) screening stringency raises the incentive of being uninsured. To support it, we provide a theoretical model and empirical evidence. JEL classification: I13, I18, H31, H51, H55

We generalize permissibility (Brandenburger, 1992) to allow for any suitably defined model of preference and definition of possibility. We also prove that the generalized solution concept characterizes rationality, caution, and common “belief” of rationality and caution. JEL classification: C72; D81

in this paper, monopolistic behavior of opec, as the largest and most stable international organization between jan. 1973 to sep. 2008, is studied. for this purpose, fundamentals of game theory is used as a basis to come-up with a criterion to make a distinction between two market structures based on mutual dependency of institutions. then using such criterion, a regressive model based on expla...