In this paper, we employ search theory as a micro-economic foundation for the wasteful commuting hypothesis. It is argued that the commute of the self-employed is the result of a search process for vacant workplaces, whereas employees search for vacant jobs through space. Because the arrival...

In this paper we analyse the commuting distribution from a job search perspective. We have examined under which conditions the commuting distribution is unimodal which is one of the stylised facts of commuting. It appears that a necessary condition is that space is two-dimensional. Furthermore,...

An exact maximum likelihood method is developed for the estimation of parameters in a non-Gaussian nonlinear log-density function that depends on a latent Gaussian dynamic process with long-memory properties. Our method relies on the method of importance sampling and on a linear Gaussian...

We review the past 25 years of time series research that has been published in journals managed by the International Institute of Forecasters (<I>Journal of Forecasting </I>1982-1985; <I>International Journal of Forecasting </I>1985-2005). During this period, over one third of all papers published in these...</i></i>

A new empirical reduced-form model for credit rating transitions is introduced. It is a parametric intensity-based duration model with multiple states and driven by exogenous covariates and latent dynamic factors. The model has a generalized semi-Markov structure designed to accommodate many of...

This paper introduces the Werden-Froeb Index (WFI) to assist in evaluating merger-specific efficiencies in horizontal mergers. The index measures the weighted average reduction in marginal costs required to restore pre-merger equilibrium prices and quantities after the (full or partial) merger...

We present new results for the likelihood-based analysis of the dynamic factor model that possibly includes intercepts and explanatory variables. The latent factors are modelled by stochastic processes. The idiosyncratic disturbances are specified as autoregressive processes with mutually...

In this paper it is argued that occupational and organizational codes maximize the correspondence between activities and easily observable characteristics at the time of their development. Over time the codes become less relevant, leading to the false impression that the segregation of...

This paper concerns estimating parameters in a high-dimensional dynamic factor

(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...