Economic Modelling

1984 - 2025

Current editor(s): S. Hall and P. Pauly

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Volume 27, issue 6, 2010

Arnold Zellner: January 2nd 1927-August 11th 2010 pp. 1337-1337

Stephen G. Hall, Lawrence Klein and George Tavlas

Introduction: P.A.V.B. Swamy's contribution to Econometrics pp. 1338-1344

Stephen G. Hall, Lawrence Klein, George Tavlas and Arnold Zellner

Existence of singularity bifurcation in an Euler-equations model of the United States economy: Grandmont was right pp. 1345-1354

William Barnett and Susan He

Tests of hypotheses arising in the correlated random coefficient model pp. 1355-1367

James J. Heckman and Daniel Schmierer

Panel data inference under spatial dependence pp. 1368-1381

Badi Baltagi and Alain Pirotte

Tests for structural change, aggregation, and homogeneity pp. 1382-1391

Esfandiar Maasoumi, Asad Zaman and Mumtaz Ahmed

Bayesian shrinkage estimates and forecasts of individual and total or aggregate outcomes pp. 1392-1397

Arnold Zellner

Conditional volatility and correlations of weekly returns and the VaR analysis of 2008 stock market crash pp. 1398-1416

Bahram Pesaran and M. Hashem Pesaran

The 'Puzzles' methodology: En route to Indirect Inference? pp. 1417-1428

Vo Phuong Mai Le, A. Patrick Minford and Michael Wickens

Empirical likelihood confidence intervals for the Gini measure of income inequality pp. 1429-1435

Yongsong Qin, J.N.K. Rao and Changbao Wu

Statistical adequacy and the trustworthiness of empirical evidence: Statistical vs. substantive information pp. 1436-1452

Aris Spanos

The use of consumer and business surveys in forecasting pp. 1453-1462

Lawrence Klein and Suleyman Ozmucur

IV threshold cointegration tests and the Taylor rule pp. 1463-1472

Walter Enders, Kyung So Im, Junsoo Lee and Mark C. Strazicich

Bivariate income distributions for assessing inequality and poverty under dependent samples pp. 1473-1483

Andrea Vinh, William Griffiths and Duangkamon Chotikapanich

The impact of knowledge accumulation and geographical spillovers on productivity and efficiency: The case of U. S. shipbuilding during WWII pp. 1484-1497

David Blazek and Robin C. Sickles

Instrumental variables and wavelet decompositions pp. 1498-1513

James B. Ramsey, Marco Gallegati, Mauro Gallegati and Willi Semmler

Exchange-rate volatility and export performance: Do emerging market economies resemble industrial countries or other developing countries? pp. 1514-1521

Stephen Hall, George Hondroyiannis, P.A.V.B. Swamy, George Tavlas and Michael Ulan

Random coefficients models of arms imports pp. 1522-1528

Ronald Smith and Ali Tasiran

Tail return analysis of Bear Stearns' credit default swaps pp. 1529-1536

Liuling Li and Bruce Mizrach

The determinants of retail petrol prices in Greece pp. 1537-1542

Eleni Angelopoulou and Heather Gibson

Non-self-averaging and the statistical mechanics of endogenous macroeconomic fluctuations pp. 1543-1546

Masanao Aoki and Raymond J. Hawkins

Volume 27, issue 5, 2010

The persistence in real exchange rate: Evidence from East Asian countries pp. 891-895

Zeynel Ozdemir and Esin Cakan

Inflation, inflation uncertainty and growth: Are they related? pp. 896-899

Stilianos Fountas

Dynamics of regional unemployment rates in Brazil: Fractional behavior, structural breaks, and Markov switching pp. 900-908

Erik Figueiredo

Non-tradable goods and the border effect puzzle pp. 909-914

Xiaoyun Liu, John Whalley and Xian Xin

News and correlations of CEEC-3 financial markets pp. 915-922

David Büttner and Bernd Hayo

Skilled-unskilled wage inequality, nontraded good and endogenous supply of skilled labour: A theoretical analysis pp. 923-934

Manash Gupta and Priya Dutta

Pricing currency options in a fractional Brownian motion with jumps pp. 935-942

Wei-Lin Xiao, Wei-Guo Zhang, Xi-Li Zhang and Ying-Luo Wang

Policy trade-off in the long run: A new Keynesian model with technological change and money growth pp. 943-950

Eiji Tsuzuki and Tomohiro Inoue

Delaying the timing of offshoring low-skilled tasks pp. 951-958

Felipa De Mello-Sampayo, Sofia de Sousa-Vale and Francisco Camões

The power of market mood -- Evidence from an emerging market pp. 959-967

Timotej Jagric, Tanja Markovic-Hribernik, Sebastjan Strasek and Vita Jagric

Micro simulations on the effects of ageing-related policy measures pp. 968-979

Jan-Maarten Van Sonsbeek

External balance, dynamic efficiency, and the welfare effects of unilateral and multilateral permit policies in interdependent economies pp. 980-990

Birgit Bednar-Friedl and Karl Farmer

Optimal public education policy in a two sector model pp. 991-995

Koichiro Sano and Yasunobu Tomoda

Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies pp. 996-1005

Tolga Omay and Elif Öznur Kan

Aid and public sector fiscal behaviour in failing states pp. 1006-1016

Simon Feeny and Mark McGillivray

Endogenous technological progress in a multi-sector growth model pp. 1017-1028

Davide La Torre and Simone Marsiglio

House price dynamics, conditional higher-order moments, and density forecasts pp. 1029-1039

Kuang-Liang Chang

From local to global public goods: How should externalities be represented? pp. 1040-1042

Rosella Levaggi

State-uncertainty preferences and the risk premium in the exchange rate market pp. 1043-1053

Juan Jimenez-Martin and Alfonso Novales

Regional convergence of growth, inequality and poverty in India--An empirical study pp. 1054-1060

Samarjit Das, Gouranga Sinha and Tushar K. Mitra

The effect of education subsidies on regional economic growth and disparities in China pp. 1061-1068

Yuko Shindo

Learning-by-doing, technology-adoption costs and wage inequality pp. 1069-1078

Oscar Afonso and Rui Leite

Foreign direct investment, economic freedom and economic growth: International evidence pp. 1079-1089

W.N.w Azman-Saini, Ahmad Zubaidi Baharumshah and Siong Hook Law

Household income mobility in rural China: 1989-2006 pp. 1090-1096

Xuehua Shi, J. Alexander Nuetah and Xian Xin

Testing for unemployment hysteresis in nonlinear heterogeneous panels: International evidence pp. 1097-1102

Cheng-Feng Lee

Nonlinearity and structural stability in the Phillips curve: Evidence from Turkey pp. 1103-1115

Mübariz Hasanov, Ayşen Araç and Funda Telatar

Purchasing Power Parity and the European single currency: Some new evidence pp. 1116-1123

Maria Christidou and Theodore Panagiotidis

Relative importance of sticky prices and sticky information in price setting pp. 1124-1135

Mesut Arslan

A behavioral cobweb-like commodity market model with heterogeneous speculators pp. 1136-1143

Frank Westerhoff and Cristian Wieland

Monetary shocks, exchange rates and trade balances: Evidence from inflation targeting countries pp. 1144-1155

Mehmet Ivrendi and Bulent Guloglu

Tangency capacity notions based upon the profit and cost functions: A non-parametric approach and a general comparison pp. 1156-1166

Walter Briec, Kristiaan Kerstens, Diego Prior and Ignace Van de Woestyne

Nonlinear dynamics in exchange rate deviations from the monetary fundamentals: An empirical study pp. 1167-1177

Bong-Han Kim, Hong-Ghi Min and Young-Kyu Moh

A closed-form solution to the Ramsey model with logistic population growth pp. 1178-1182

Luca Guerrini

Estimating VARs with long stationary heterogeneous panels: A comparison of the fixed effect and the mean group estimators pp. 1183-1198

Alessandro Rebucci

A political economy perspective on persistent inequality, inflation, and redistribution pp. 1199-1210

Radhika Lahiri and Shyama Ratnasiri

Population heterogeneity and growth pp. 1211-1222

Mehmet Eris

Dynamic adjustment and long-run equilibria: Panel data estimates for the East German states pp. 1223-1229

Werner Smolny

The impact of the credit crisis on poor developing countries: Growth, worker remittances, accumulation and migration pp. 1230-1245

Thomas Ziesemer

Capital mobility, openness, and saving-investment relationship in Asia pp. 1246-1252

Karim Eslamloueyan and Mahbobeh Jafari

Welfare improving distributionally neutral tax reforms pp. 1253-1268

Nathalie Mathieu-Bolh

Systems GMM estimates of the Feldstein-Horioka puzzle for the OECD countries and tests for structural breaks pp. 1269-1273

B. Rao, Artur Tamazian and Saten Kumar

Wages, selectivity, and vacancies: Evaluating the short-term and long-term impact of the minimum wage on unemployment pp. 1274-1281

Frédéric Gavrel, Isabelle Lebon and Therese Rebiere

Entrepreneurship and unemployment: A nonlinear bidirectional causality? pp. 1282-1291

Joao Faria, Juan Cuestas and Estefanía Mourelle

Federal reserve monetary policy and the non-linearity of the Taylor rule pp. 1292-1301

Aziz Hayat and Sagarika Mishra

Large-scale mortality shocks and the Great Irish Famine 1845-1852 pp. 1302-1314

Declan Curran and Maria Fröling

The effects of fiscal policy on economic activity in Finland pp. 1315-1323

Mika Kuismanen and Ville Kämppi

Optimal monetary policy regime for oil producing developing economies: Implications for post-war Iraq pp. 1324-1336

Bedri Tas and Selahattin Togay

Volume 27, issue 4, 2010

Special issue on health econometrics: Editors' introduction pp. 789-790

Francesco Moscone, Andrew Jones and John Mullahy

Health expenditure models: A comparison using panel data pp. 791-803

Valerie Albouy, Laurent Davezies and Thierry Debrand

Health care expenditure and income in the OECD reconsidered: Evidence from panel data pp. 804-811

Badi Baltagi and Francesco Moscone

The effects of upcoding, cream skimming and readmissions on the Italian hospitals efficiency: A population-based investigation pp. 812-821

Paolo Berta, Giuditta Callea, Gianmaria Martini and Giorgio Vittadini

Modelling the participation decision and duration of sporting activity in Scotland pp. 822-834

Barbara Eberth and Murray D. Smith

Co-payments and the demand for pharmaceuticals: Evidence from Italy pp. 835-841

Carlo Fiorio and Luigi Siciliani

Does quality influence choice of general practitioner? An analysis of matched doctor-patient panel data pp. 842-853

Erik Biorn and Geir Godager

External validation of the use of vignettes in cross-country health studies pp. 854-865

Nabanita Datta Gupta, Nicolai Kristensen and Dario Pozzoli

Sick of work or too sick to work? Evidence on self-reported health shocks and early retirement from the BHPS pp. 866-880

Andrew Jones, Nigel Rice and Jennifer Roberts

Restructuring hospital industry to control public health care expenditure: The role of input substitutability pp. 881-890

Massimiliano Piacenza, Gilberto Turati and Davide Vannoni

Volume 27, issue 3, 2010

Estate tax and lifetime income inequality pp. 613-619

Lily Jiang

When does financial integration matter for fiscal policy in a currency union? A welfare-based approach pp. 620-630

Gilbert Koenig and Irem Zeyneloglu

The international effects of government spending composition pp. 631-640

Giovanni Ganelli

Threshold effects in panel data stochastic frontier models of dairy production in Canada pp. 641-647

Clement Yelou, Bruno Larue and Kien Tran

Consolidation and commercial bank net interest margins: Evidence from the old and new European Union members and candidate countries pp. 648-655

Adnan Kasman, Gokce Tunc, Gulin Vardar and Berna Okan

Double dividend, dynamic Laffer effects and public abatement pp. 656-665

Esther Fernández, Rafaela Perez and Jesus Ruiz

Multi-horizon inflation forecasts using disaggregated data pp. 666-677

Carlos Capistrán, Christian Constandse and Manuel Ramos-Francia

On mean-variance portfolio selection under a hidden Markovian regime-switching model pp. 678-686

Robert J. Elliott, Tak Kuen Siu and Alex Badescu

The effect of subsidy policies on the product quality improvement pp. 687-696

Inyong Shin and Hyunho Kim

Estimating semi-parametric output distance functions with neural-based reduced form equations using LIML pp. 697-704

Angelos Vouldis, Panayotis Michaelides and Mike Tsionas

The U.S. trade imbalance and real exchange rate: An application of the heterogeneous panel cointegration method pp. 705-716

Yi-Bin Chiu, Chien-Chiang Lee and Chia-Hung Sun

Modelling risk premia in CO2 allowances spot and futures prices pp. 717-729

Julien Chevallier

Progressive taxation and corporate liquidation policies with mean-reverting earnings pp. 730-736

Kai Cheung Chu and Kit Pong Wong

Implementing optimal monetary policy: Objectives and rules pp. 737-745

Huiping Yuan and Stephen Miller

Innovation, licensing, and price vs. quantity competition pp. 746-754

Changying Li and Xiaoming Ji

Disaggregated data and trade policy analysis: The value of linking partial and general equilibrium models pp. 755-766

Badri G Narayanan, Thomas W. Hertel and Mark Horridge

Incorporating rigidity and commitment in the timing structure of macroeconomic games pp. 767-781

Jan Libich and Petr Stehlík

A panel cointegration approach to estimating substitution elasticities in consumption pp. 782-787

Monica Auteri and Mauro Costantini

Volume 27, issue 2, 2010

Public external debt, informality and production efficiency in developing countries pp. 487-495

Imed Drine and Mahmoud Nabi

Trade in goods and services: Two sides of the same coin? pp. 496-506

Hildegunn Nordås

Meeting Maastricht: Nominal convergence of the new member states toward EMU pp. 507-515

Pierre L. Siklos

Endogenous recessions: The creative destruction effect of final product novelty pp. 516-522

Gianfranco Giulioni

A golden rule of public finance or a fixed deficit regime?: Growth and welfare effects of budget rules pp. 523-534

Max Groneck

Sticky prices and moderate inflation pp. 535-546

Marc Hofstetter

The competitive firm and the role of information about uncertain factor prices pp. 547-552

Christian Hermelingmeier

Impacts of hiring subsidies targeted at the long-term unemployed on the low-skilled labor market: The French experience pp. 553-565

Anne Bucher

Nonlinear dynamics in arbitrage of the S&P 500 index and futures: A threshold error-correction model pp. 566-573

Bong-Han Kim, Sun-Eae Chun and Hong-Ghi Min

Co-breaking, cointegration, and weak exogeneity: Modelling aggregate consumption in Japan pp. 574-584

Takamitsu Kurita

In or out? The welfare costs of EMU membership pp. 585-594

Alexandra Lopes

Are prior restrictions on factor shares appropriate in growth accounting estimations? pp. 595-604

Jacob Oduor

Do real exchange rates really follow threshold autoregressive or exponential smooth transition autoregressive models? pp. 605-612

Gawon Yoon

Volume 27, issue 1, 2010

Estimating the speed of adjustment of European banking efficiency under a quadratic loss function pp. 1-11

Anastasia Koutsomanoli-Filippaki and Emmanuel Mamatzakis

Institutions and geography: Empirical test of spatial growth models for European regions pp. 12-21

Giuseppe Arbia, Michele Battisti and Gianfranco Di Vaio

The Debreu private ownership economy with complementary commodities and prices pp. 22-27

Agnieszka Lipieta

Is the more able manager always safer from takeover? pp. 28-31

Mingchao Cai, Yue Li, Yongxiang Wang and Rong Xu

A Nested logit approach to modelling the location of foreign direct investment in the Central and Eastern European Countries pp. 32-39

Simona Rasciute and Eric Pentecost

Policy modeling on the GDP spillovers of carbon abatement policies between China and the United States pp. 40-45

Zheng Wang, Hua-Qun Li, Jing Wu, Yi Gong, Huan-Bo Zhang and Chen Zhao

Estimates of the steady state growth rates for selected Asian countries with an extended Solow model pp. 46-53

B. Rao

Optimizing international technology diffusion: A middle-income country's perspective pp. 54-66

Hwan Lin

The effect of working time and labor force participation on unemployment: A new argument in an old debate pp. 67-82

Melanie Lührmann and Matthias Weiss

Splines and the proportion of the seasonal period as a season index pp. 83-88

Gloria Martín Rodríguez and José Juan Cáceres Hernández

Estimation of conditional time-homogeneous credit quality transition matrices pp. 89-96

Jose Gomez-Gonzalez and Inés Paola Orozco Hinojosa

The effects of irreversibility on the timing and intensity of lumpy investment pp. 97-102

Kit Pong Wong

Climate policy in Western Europe and avoided costs of air pollution control pp. 103-115

Nathan Rive

The convergence dynamics of a transition economy: The case of the Czech Republic pp. 116-124

Jan Bruha, Jiri Podpiera and Stanislav Polák

The Italian Treasury Econometric Model (ITEM) pp. 125-133

Claudio Cicinelli, Andrea Cossio, Francesco Nucci, Ottavio Ricchi and Cristian Tegami

Wage restraint and monetary union pp. 134-142

Marcelo Sánchez

Real exchange rates, asset prices and terms of trade: A theoretical analysis pp. 143-151

Robin Hang Luo and Nuttawat Visaltanachoti

Disinflationary boom in a price-wage spiral model pp. 152-158

Olivier Musy and Jean-Christophe Pereau

On the paradoxical case of a consumer-based environmental subsidy policy pp. 159-164

Tsuyoshi Toshimitsu

The endogeneity of the Optimum Currency Area criteria in East Asia pp. 165-170

Grace Lee and M Azali

A dynamic general equilibrium model for public R&D investment in Taiwan pp. 171-183

Yunchang Bor, Yih-chyi Chuang, Wei-Wen Lai and Chung-Min Yang

Foreign direct investment, international trade, and firm heterogeneity pp. 184-195

Hiroyuki Nishiyama and Masao Yamaguchi

Managerial pay adjustments: Decomposition and impact on firm productive efficiency pp. 196-207

Ming-Yuan Chen

A possibilistic portfolio adjusting model with new added assets pp. 208-213

Wei-Guo Zhang, Wei-Lin Xiao and Wei-Jun Xu

Product differentiation and welfare: Comment pp. 214-216

Ahmet Özçam

New trade theory, non-price competitiveness and export performance pp. 217-228

Panayiotis Athanasoglou and Ioanna C. Bardaka

Inflation and the finance-growth nexus pp. 229-236

Ho-Chuan Huang, Shu-Chin Lin, Dong-Hyeon Kim and Chih-Chuan Yeh

Evaluating the effect of monetary policy on unemployment with alternative inflation forecasts pp. 237-253

Carlo Altavilla and Matteo Ciccarelli

Dynamic effects of trade openness on financial development pp. 254-261

Dong-Hyeon Kim, Shu-Chin Lin and Yu-Bo Suen

Using mean reversion as a measure of persistence pp. 262-273

Daniel Dias and Carlos Marques

Are the Energy Efficiency Technologies efficient? pp. 274-283

Kostantinos Kounetas and Kostas Tsekouras

Exchange rate movements and monetary policy in Brazil: Econometric and simulation evidence pp. 284-295

Luiz Gustavo Cassilatti Furlani, Marcelo Savino Portugal and Márcio Laurini

Does financial intermediation matter for macroeconomic performance? pp. 296-303

Pierre-Guillaume Méon and Laurent Weill

An analysis of the informational content of New Zealand data releases: The importance of business opinion surveys pp. 304-314

Troy Matheson

The effect of monetary policy on real house price growth in South Africa: A factor-augmented vector autoregression (FAVAR) approach pp. 315-323

Rangan Gupta, Marius Jurgilas and Alain Kabundi

Financial development, institutional quality and maximizing-growth trade-off in government finance pp. 324-335

Alexandru Minea and Patrick Villieu

Endogenous retirement and public pension system reform in Spain pp. 336-349

Alfonso R. Sánchez Martín

Heterogeneous duopoly with isoelastic demand function pp. 350-357

Fabio Tramontana

Loan processing costs, information asymmetries and the speed of technology adoption pp. 358-367

Salvatore Capasso and George Mavrotas

Cyclical behavior of price-cost margins in the Turkish banking industry pp. 368-374

Evrim Turgutlu

Competing or cooperating to host mega events: A simple model pp. 375-379

Li Sheng

Technology and outsourcing: An explanation to the rising wage gap pp. 380-387

Sahana Roy Chowdhury

Financial imbalances and gradualism pp. 388-394

Anna Florio

The influence of Flexible Manufacturing Technology adoption on productivity of Malaysian manufacturing industry pp. 395-403

D.A.R. Dolage, Abu Bakar Sade and Elsadig Ahmed

Nonlinear adjustment of the real exchange rate towards its equilibrium value: A panel smooth transition error correction modelling pp. 404-416

Sophie Béreau, Antonia López Villavicencio and Valérie Mignon

Product market competition, R&D composition and growth pp. 417-421

Antonio Minniti

Testing stochastic income convergence in seasonal heterogeneous panels pp. 422-431

Nuri Ucar and Hüseyin Güler

Monetary Policy in Russia: Identifying exchange rate shocks pp. 432-444

Brigitte Granville and Sushanta Mallick

Quantifying South Africa's crude oil import risk: A multi-criteria portfolio model pp. 445-453

Njeri Wabiri and Hammed Amusa

The impact of the 2008 German corporate tax reform: A dynamic CGE analysis pp. 454-467

Doina Radulescu and Michael Stimmelmayr

The macroeconomic performance of the inflation targeting policy: An approach based on the evolutionary co-spectral analysis (extension for the case of a multivariate process) pp. 468-476

Zied Ftiti

Foreign capital inflow, skilled-unskilled wage inequality and unemployment of unskilled labour in a fair wage model pp. 477-486

Sarbajit Chaudhuri and Dibyendu Banerjee