Aggregation and emergence in agent based models : a markov chain approach

Social spending is detrimental to growth; spending on education and health boosts growth; and there is weak evidence supporting causality running from expenditures and revenues

However, the difficulty in taming fiscal imbalances, the pro-cyclicality of fiscal policy, the use of extraordinary fiscal measures, coupled with the 2008-2009

values of percentage returns of the safe asset total return index (further on referred to as.. safe assets index) are

We explain the dependent variable, the deviation of the budget balance ratio (and of the general government debt ratio in some cases) through econometric estimations,

the protection of minority shareholders is lower, and so agency costs should be higher.. La Porta

OECD/EU/Eurostat (2005), The Measurement of Scientific and Technological Activities: Proposed Guidelines for Collecting and Interpreting Innovation Data – Oslo Manual, third

development of ownership advantages in local firms, the increasing international mobility. of operations and the accumulation of technological and knowledge-intensive

individual’s family school level, own previous schooling patterns and the role played by.. education institutions