DYNAMIC EMPIRICS OF TRADE OPENNESS AND ECONOMIC GROWTH IN LATIN AMERICA: DO FAST REFORMERS GROW FASTER?

This study uses a dynamic model to determine the contribution of openness on output growth in Latin America. Error Correction Model and Phillips and Loretan results prove superior to OLS estimates. First, openness growth does not have a straight positive relationship to productivity growth; i.e., it is not clear whether fast reformers grow faster. Second, there are significant variations between the short run and long run estimates under the ECM but not under the Phillips and Loretan specification. Third, lead effects are present and are strong in magnitude.Economic Growth, Trade Openness, Dynamic Estimates

Parameter Estimation of Gaussian Stationary Processes using the Generalized Method of Moments

We consider the class of all stationary Gaussian process with explicit parametric spectral density. Under some conditions on the autocovariance function, we defined a GMM estimator that satisfies consistency and asymptotic normality, using the Breuer-Major theorem and previous results on ergodicity. This result is applied to the joint estimation of the three parameters of a stationary Ornstein-Uhlenbeck (fOU) process driven by a fractional Brownian motion. The asymptotic normality of its GMM estimator applies for any H in (0,1) and under some restrictions on the remaining parameters. A numerical study is performed in the fOU case, to illustrate the estimator's practical performance when the number of datapoints is moderate

Power Grows for Striking Chinese Workers

This document is part of a digital collection provided by the Martin P. Catherwood Library, ILR School, Cornell University, pertaining to the effects of globalization on the workplace worldwide. Special emphasis is placed on labor rights, working conditions, labor market changes, and union organizing.CLW_2010_Report_China_power_grows.pdf: 279 downloads, before Oct. 1, 2020

Thermodynamics of noncommutative quantum Kerr black holes

Thermodynamic formalism for rotating black holes, characterized by noncommutative and quantum corrections, is constructed. From a fundamental thermodynamic relation, equations of state and thermodynamic response functions are explicitly given and the effect of noncommutativity and quantum correction is discussed. It is shown that the well known divergence exhibited in specific heat is not removed by any of these corrections. However, regions of thermodynamic stability are affected by noncommutativity, increasing the available states for which some thermodynamic stability conditions are satisfied.Comment: 16 pages, 9 figure