Showing 1 - 10 of 29
A hedonic pricing model is estimated to analyse the impact of railways on house prices in terms of distance to railway station, frequency of railway services and distance to the railway line. Correcting for a wide range of other determinants of house prices we find that dwellings very close to a...
Persistent link: https://www.econbiz.de/10005137136
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>
Persistent link: https://www.econbiz.de/10005137128
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...
Persistent link: https://www.econbiz.de/10005137142
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...
Persistent link: https://www.econbiz.de/10005137169
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...
Persistent link: https://www.econbiz.de/10005137376
This paper concerns estimating parameters in a high-dimensional dynamic factor
Persistent link: https://www.econbiz.de/10005144458
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...
Persistent link: https://www.econbiz.de/10005209455
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...
Persistent link: https://www.econbiz.de/10009144743
Using meta-analytical techniques, we focus on 11 studies that explicitly measure the effect of a net migration variable in neoclassical convergence models and derive 57 comparable effect sizes. The data suggest that an increase in the net migration rate of one percentage point increases on...
Persistent link: https://www.econbiz.de/10005504916
Knowledge drives the growth of nations and regions in a competitive space-economy. Hence, we would expect a strong correlation between investments in R&D, knowledge and learning processes, on the one hand, and productivity increases, on the other. However, the empirical evidence shows consistent...
Persistent link: https://www.econbiz.de/10004987436