Local amenities are an important factor in the location choice of households. Heterogeneity in preferences of households tends to sort households over different locations which satisfy best their preferences given their constraints. In this paper, we analyze the effect of cultural heritage on...

While the question of the specification of spatial weight matrix is now largely discussed in the spatial econometrics literature, the definition of distance has attracted less attention. The choice of the distance measure is often glossed over, with the ultimate use of the Euclidean distance....

In 2006 was approved, in Brazil, a new regulatory framework, named General Law of Micro and Small Enterprises (MSEs), regulating and expanding special conditions for MSEs - that representing more than 90% of companies in Brazil. The Law introduces differential treatment to MSEs for starting a...

The development of employment and unemployment in regional labour markets is known to spatially interdependent. Global Vector-Autoregressive (GVAR) models generate a link between the local and the surrounding labour markets and thus might be useful when analysing and forecasting employment and...

In this paper we provide a brief overview of some of the most recent empirical research on spatial econometric models and spatial data mining. Data mining in general is the search for hidden patterns that may exist in large databases. Spatial data mining is a process to discover interesting,...

This paper presents a counter-factual model identifying Average Treatment Effects (ATEs) by Conditional Mean Independence when externality (or neighbourhood) effects are incorporated within the traditional potential outcome model. As such, it tries to generalize the usual approach, widely used...

This paper proposes a general statistical framework for systemic financial stress indexes. Several existing index designs can be represented as special cases. We introduce a daily variant of the ECB's CISS for the euro area and the US. The CISS aggregates a representative set of stress...

Credence goods markets, such as those for car repairs and medical treatments, are generally characterized by an ex-ante and ex-post information asymmetry between the uninformed buyer and the informed seller. Previous literature demonstrates that efficiency and fraud in a monopolist credence...

This paper reviews the literature on incorporating behavioural elements into epidemiological models of pandemics. While modelling behaviour by forward-looking rational agents can provide some insight into the time paths of pandemics, the non-stationary nature of Susceptible-Infected-Removed...

During the COVID-19 pandemic, some goods suddenly became scarce due to panic purchases and stockpiling. The decision to hoard is influenced by higher-order beliefs. If an agent believes that other agents think that a good will become scarce, she concludes that these other agents will hoard, and...