This paper analyses trade specialisation dynamics in two Eastern European countries (Romania and Bulgaria – EEC-2) vis-à-vis the core EU member states (EU-15) over the period 1990-2006. Specifically, we focus on whether there is a shift towards intraindustry trade leading to economic convergence and technological catch-up. We use recently developed static (FEM, REM and FEVD) and dynamic (GMM) p...

Based on trans-national and trans-industrial panel data collected from OECD-STAN, UNCOMTRADE and China Statistical Yearbooks, and by full consideration of knowledge heterogeneity from both country and industry aspects, also considering industrial correlation effect between manufacturing and service, the study mainly focuses on import technology spillover and its diversified decomposition charac...

According to the life-cycle theory of consumption and saving, foreseeable retirement events should not reduce consumption. This argument applies especially to housing consumption, whereas other consumption expenditures may fall when home production substitutes them (given higher leisure after retirement). Using micro panel data for German tenants we find that income drops at entering retirement...

Executive Compensation, Firm Performance, and Chaebols in Korea: Evidence from New Panel Data This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm performance ...

We test for the long-term impact of experiencing “prosperity in youth” (PIY) on nontraditional category consumption. Using unique twenty-year panel data of individuals from nine Chinese provinces with varying levels of per-capita GDP and rates of per-capita GDP growth, we find robust evidence for the PIY effect. We find both a direct effect of one’s own prosperity and an indirect effect of the ...

In this paper we examine the effect of family structure on children’s educational outcomes by exploiting the sibling structure in the NLSY and NLSY-Child to control for unobserved heterogeneity across families and individuals. We also compare outcomes for children within the same family—stepchildren with their half-siblings in the same blended family who are the biological children of both pare...

This paper empirically examines the extent to which organization characteristics promote the diffusion of pollution prevention technologies within a firm (parent company). We use panel data on more than 5000 facilities reporting to the Toxics Release Inventory over the period of 1991 to 2011 to examine the number of pollution prevention technologies adopted by a facility with respect to its siz...

This paper presents new evidence on the relationship between corruption and income inequality. Using a panel data methodology, we find that lower corruption is associated with higher income inequality in Latin America. This result is in contrast to other empirical studies but it makes sense in Latin America for a number of reasons. The finding of an inverse relationship between inequality and c...

Most stock exchange regulators around the world reacted to the 2007-2009 crisis by imposing bans or regulatory constraints on short-selling. Short-selling restrictions were imposed and lifted at different dates in different countries, often applied to different sets of stocks and featured different degrees of stringency. We exploit this considerable variation in short-sales regimes to identify ...

In the early 1990s, Taiwan began her deregulation trend in order to enhance competition and economic efficiency across all industries. We derive a theoretical framework to predict possible rankings in technical efficiencies of public, mixed, and private banks. A panel data set with 43 Taiwanese banks during 1997-1999 is used for empirical analysis. We then apply a translog distance function to ...