The Algarve region in Portugal is often considered as one of the most appealing regions for tourism in the country. Its attractive location and moderate climate have since the mid-1960s brought increasing economic prosperity. As a result of the development of mass tourism, available land-use...

(Spatial) panel data are routinely modelled in discrete time (DT). However, there are compelling arguments for continuous time (CT) modelling of (spatial) panel data. Particularly, most social processes evolve in CT, so that statistical analysis in DT is an oversimplification, gives an...

Housing markets typically exhibit a strong positive correlation between the rate of price increase and the number of houses sold. We document this correlation on high-quality Dutch data for the period 1985-2007, and estimate a VEC-model that allows us to study the mechanism giving rise to the...