This paper considers estimation of a panel data model with disturbances that are autocorrelated across cross …. If the time dimension of the data is large, feasible and efficient estimation proceeds by using the time dimension to … estimate spatial dependence parameters. For the case where the time dimension is small (the usual panel data case), we develop …

computationally costly GMM estimator in many cases. We apply our procedure to a large panel of return predictors and find that it …

stylized facts about entry and exit of informal, non-farm firms using nationally representative panel data over 15 years and …

today. The level of corruption is weakly correlated with the level of income inequality and racial fractionalization, and …We use a data set of federal corruption convictions in the U.S. to investigate the causes and consequences of … corruption. More educated states, and to a less degree richer states, have less corruption. This relationship holds even when we …

facts on earnings inequality and dynamics in a developing country with a large informal sector: Brazil. Since the mid-1990s …, both inequality and volatility of earnings have declined significantly in Brazil's formal sector. Higher-order moments of …

obstacles associated with corruption and weak institutions. We model these circumstances in a principal-agent framework with … economic corruption as an indicator of the strength of property right enforcement within a given country. We compare corruption … levels for a large cross section of countries in 1989 to subsequent FDI flows from 1990 to 1999. We find that corruption is …