En los últimos años ha surgido un interés creciente por las especificaciones y estimaciones de relaciones econométricas basadas en Datos de Panel. Este interés se ha trasladado al campo de la Econometría Espacial, con la introducción de la componente temporal en modelos que surgieron con...

This paper presents new models for aggregate UK data on mortgage possessions (foreclosures) and mortgage arrears (payment delinquencies). The innovations include the treatment of difficult to observe variations in loan quality and shifts in forbearance policy by lenders, by common latent...

Official statistics do not generally provide poverty statistics for detailed geographic areas. However, local government needs reliable data to design effective policies and actions against poverty and social exclusion. On the other hand, local government agencies usually have access to a wealth...

The chapter surveys the empirical literature concerning the measurement of terrorism, effectiveness of counterterrorism policies, the economic consequences of terrorism, and the economic causes of terrorism. In Section 2, terrorist incidents are grouped according to incident type, victim, and...

The main goal of this paper is to develop an empirical framework for evaluating the patient welfare benefits arising from pharmaceutical innovation. Extending previous studies of the welfare benefits from innovation (Trajtenberg, 1990; Hausman, 1996), this paper unpacks the separate choices made by...

This paper provides a structural empirical analysis of Dutch auctions of houseplants at the flower auction in Aalsmeer, the Netherlands. The data set is unique for Dutch auctions in the sense that it includes observations of all losing bids in an interval adjacent to the winning bid. The size of...

A central challenge in the measurement of entrepreneurship is accounting for the wide variation in entrepreneurial quality across firms. This paper develops a new approach for estimating entrepreneurial quality by linking the probability of a growth outcome (e.g., achieving an IPO or a...

We provide, for the first time, comparative evidence of the impact of various types of extreme events – natural disasters, terrorism, and violent conflicts – on the perceptions of entrepreneurs concerning some key entrepreneurial issues – such as fear of failure in starting a business...

We show how standard consumer and producer theory can be used to estimate welfare in insurance markets with selection. The key observation is that the same price variation needed to identify the demand curve also identifies how costs vary as market participants endogenously respond to price....

Much of the extensive empirical literature on insurance markets has focused on whether adverse selection can be detected. Once detected, however, there has been little attempt to quantify its importance. We start by showing theoretically that the efficiency cost of adverse selection cannot be...