Current-account breaks and stability spells in a global perspective

Purpose – This study aims to identify structural breaks in the current account and the periods between these breaks, which the authors name stability spells, and study their characteristics and determinants. Design/methodology/approach – Using data from the IMF and the World Bank, this study applies the Lee and Strazicich test to endogenously identify breaks and the Heckman…

Does stock market capitalization cause GDP? A causality study for Central and Eastern European countries

This paper analyzes the relationship between stock market capitalization to GDP and real GDP in 10 Central and Eastern European countries (CEECs) that joined the European Union in 2004 and 2007, with the objective of determining whether the financial markets played a role as drivers of economic development in these countries or vice versa. The…

On the long-run association between personality traits and road crashes: Findings from the British cohort study

Traffic crashes are the leading cause of death for those aged 15–29 years and the ninth cause of death worldwide. Personality traits play an important role in explaining traffic crashes. We use data from the British Cohort Study 1970 to analyse the effect of the respondent’s personality traits at age 10 on the probability of…

An empirical characterization of high-risk drivers in Spain. The role of gender, age, marital status and education

Traffic accidents are both a major economic and public health problem worldwide. We use data from the May 2016 Spanish barometer (n = 1632) to analyse the characteristics of drivers who declare different types of risky driving behaviours. Our estimates suggest that the likelihood of being a high-risk driver in Spain increases with educational attainment…

Estimating the impact of the Penalty Point System on road fatalities in Spain

Traffic accidents are a major public health concern since they are the leading cause of death for those aged 15–29 years and the ninth cause of death worldwide. In this paper, we estimate the overall effect on traffic fatalities of the introduction of the Penalty Point System (PPS) in Spain in 2006, jointly with those…

Homicide and land prices: A spatial analysis in Santiago de Cali

Since 2000, Cali has had the highest mean annual homicide rate among the major Colombian cities. The model of Mills (1972) is extended to include the homicide per commune (from 2005 to 2012) as a measure of social distance, and to quantify the effect of this phenomenon on land prices (mean appraisals). Using an annual…

A representative committee by approval balloting

A new voting rule for electing committees is described. Specifically, we use approval balloting and propose a new voting procedure that guarantees that if there is a committee that represents (with a given proportion of representatives) all of the existing voters, then the selected committee has to represent all of voters in at least the…

Folk solution for simple minimum cost spanning tree problems

A minimum cost spanning tree problem analyzes how to efficiently connect a group of individuals to a source. Once the efficient tree is obtained, the addressed question is how to allocate the total cost among the involved agents. One prominent solution in allocating this minimum cost is the so-called Folk solution. Unfortunately, in general, the…

Strategic sharing of a costly network

We study minimum cost spanning tree problems for a set of users connected to a source. Prim’s algorithm provides a way of finding the minimum cost tree m. This has led to several definitions in the literature, regarding how to distribute the cost. These rules propose different cost allocations, which can be understood as compensations…

Dual sourcing with price discovery

We consider a (standard) reverse auction for dual sourcing and propose to determine both the providers’ shares and the reserve price endogenously, depending on the suppliers’ bids. Our benchmark considers a two-stage game of complete information. After a first round of bidding, the two most competitive suppliers advance to the second stage and compete again…