Has the Lucas Paradox been fully explained?
Azemar, Celine and Desbordes, Rodolphe (2013) Has the Lucas Paradox been fully explained? Economic Letters, 121 (2). pp. 183-187. ISSN 0165-1765 (https://doi.org/10.1016/j.econlet.2013.07.025)
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Alfaro, Kalemli-Ozcan, and Volosovych (2008) argue that accounting for differences in institutional quality makes the Lucas Paradox disappear. We show that their key finding is driven by the presence of outliers. Once we control for them, we find that the Lucas Paradox remains.
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Item type: Article ID code: 48066 Dates: DateEvent2013PublishedSubjects: Social Sciences > Finance
Social Sciences > Economic TheoryDepartment: Strathclyde Business School > Economics Depositing user: Pure Administrator Date deposited: 13 May 2014 14:18 Last modified: 08 Apr 2024 21:30 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/48066
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