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Full-Text Articles in Economics
Federal Regulations And U.S. Energy Sector Output, Joshua Hall, Shishir Shakya
Federal Regulations And U.S. Energy Sector Output, Joshua Hall, Shishir Shakya
Economics Faculty Working Papers Series
A large body of literature finds that the energy sector is important to economic growth and development. The production of energy has negative environmental impacts, however, which has resulted in the sector being highly regulated. While several studies examine the effect of particular regulations on the energy sector, in this study we use the recently developed measure of regulation called RegData to estimate the impact of federal regulations on the energy sector. We employ a panel ARDL model to find an inverted U-shaped relationship between federal regulations and U.S. energy sector output. Federal regulations appear to increase energy sector outputs …
The Efficient Corruption Hypothesis And The Dynamics Between Economic Freedom, Corruption, And National Income, Joshua Hall, John Levendis, Alexandre R. Scarcioffolo
The Efficient Corruption Hypothesis And The Dynamics Between Economic Freedom, Corruption, And National Income, Joshua Hall, John Levendis, Alexandre R. Scarcioffolo
Economics Faculty Working Papers Series
Income, economic freedom, and corruption interact in complex ways as all three variables are arguably endogenous. We explicitly model this endogeneity using a panel VAR framework. The pVAR models we estimate are able to explicitly model this endogeneity better than the single-equation panel data models previously used in the literature. Using data on corruption and income from the World Bank and economic freedom from the Fraser Institute, we provide evidence that corruption and the absence of economic freedom have a negative effect on national income.