In the wake of emerging market turmoil, the role and welfare consequences of volatility have attracted renewed attention. An emerging consensus points to various types of volatility being both a consequence and a determinant of longerterm growth performance. The linkages appear to be context dependent. This paper employs classification tree analysis to explore determinants of consumption volati...

Standard Data Envelopment Analysis (DEA) is characterized by uniform proportional input reduction or output augmentation in calculating improvement projections. This paper develops a new Euclidean Distance Minimization model in the context of DEA in order to derive a more appropriate efficiency-improving projection model by means of a weighted projection function. The model is extended to the s...

This paper extends my previous analysis of the causal relationship of GDP and energy use in the USA in the post-war period. A majority of the relevant variables are integrated justifying a cointegration analysis. The results show that cointegration does occur and that energy input cannot be excluded from the cointegration space. The results are plausible in terms of macroeconomic dynamics. The ...

Using a panel data set of 361 German corporations for the period 1991 to 1996 we test the hypothesis that firms with more efficient governance structures have higher profitabilities. To determine efficiency we compare firms with respect to ownership concentration, the identity of owners, capital structure, investment and firm growth by a multi-input/multi-output Data Envelopment Analysis (DEA)....

We implement an endogeneous switching-regression model for labour productivity and firms’ decision to use business–to–business (B2B) e–commerce. Our approach allows B2B usage to affect any parameter of the labour productivity equation and to properly take account of strategic complementarities between the input factors and B2B usage. Empirical evidence from 1,394 German firms shows that firms u...

This article analyzes direct and indirect effects of foreign ownership on productivity in the Turkish manufacturing plants between 1990 and 1996. First, based on Olley-Pakes production function estimates, foreign affiliates are shown to be more productive than local plants. Using sectoral output shares of foreign affiliates and 1990 input-output matrix to identify linkages across plants, regres...