Quite often shadow economy (SE) and corruption are seen as "twins", which need each other or fight against each other and theoretically can be either complements or substitutes. Therefore, the relationship between SE and corruption has been a controversial and polemical issue and in the spotlight of a remarkable collection of economists and social researchers. The main objective of this study ...

In this article we extend the comparative analysis between the results of a pooled OLS regression and the use of fixed effects panel models concerning the determinants of debt, comparing the results of using static panel models and dynamic panel estimators, including the dynamic estimator of correction of fixed effects. The results show that the differences between the results of static panel m...

In this study, we develop a novel estimation method for quantile treatment effects (QTE) under rank invariance and stationarity assumptions. Ishihara (2020 Ishihara, T. (2020), “Identification Estimation of Time-Varying Nonseparable Panel Data Models Without Stayers,” Journal Econometrics, 215, 184–208. DOI: https://doi.org/10.1016/j.jeconom.2019.08.008.[Crossref] , [Google Scholar]) explores i...

This paper studies the saving behavior of rural households in Vietnam from two aspects: volume of savings and methods of saving. Two econometric models are conducted, the first one is a panel data model, used to examine the determinants of household saving; and the second one is a multinomial logit model used to investigate how a household chooses the way to save. Both models are based on the l...

In this paper we provide a new methodology to analyze the (Gaussian) profile quasi likelihood function for panel regression models with interactive fixed effects, also called factor models. The number of factors is assumed to be known. Employing the perturbation theory of linear operators, we derive a power series expansion of the likelihood function in the regression parameters. Using this exp...