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We show in this paper that spatial dependence and spatial heterogeneity matter in the estimation of the b-convergence process among 138 European regions over the 1980-1995 period. Using spatial econometrics tools, we detect both spatial dependence and spatial heterogeneity in the form of...
Persistent link: https://www.econbiz.de/10005556337
he purpose of this article is to analyse the dynamic trend of spatial dependence, which is not only contemporary but time-lagged in many socio-economic phenomena. Firstly, we show some of the commonly used exploratory spatial data analysis (ESDA) techniques and we propose other new ones, the...
Persistent link: https://www.econbiz.de/10005062559
Recently municipal household income has been estimated with spatial econometrics techniques explicitly including spatial autocorrelation in the econometric models. Spatial econometric tools have highly improved the explicative and predictive capacity of the models and more effort must be done in...
Persistent link: https://www.econbiz.de/10005556266
I estimate a life cycle model of consumption choice with unemployment risk. Employed individuals face the risk of losing their job. Unemployed agents receive job random offers of different quality, which they can accept or reject. Following the loss of a job and during unemployment, an agent’s...
Persistent link: https://www.econbiz.de/10005119102
This paper develops a method to select the threshold in threshold-based jump detection methods. The method is motivated by an analysis of threshold-based jump detection methods in the context of jump-diffusion models. We show that over the range of sampling frequencies a researcher is most...
Persistent link: https://www.econbiz.de/10011995217
We consider the situation when there is a large number of series, $N$, each with $T$ observations, and each series has some predictive ability for the variable of interest, $y$. A methodology of growing interest is to first estimate common factors from the panel of data by the method of...
Persistent link: https://www.econbiz.de/10005407875
We examine the ability of the simple linear-quadratic model under rational expectations to explain dynamic behaviour of aggregate Canadian imports. In contrast to authors of previous studies who examine dynamic behaviour using the LQ model, we estimate the structural parameters using the Euler...
Persistent link: https://www.econbiz.de/10005407876
Accurate estimation of the dominant root of a stationary but persistent time series are required to determine the speed at which economic time series, such as real exchange rates or interest rates, adjust towards their mean values. In practice, accuracy is hampered by downward small- sample...
Persistent link: https://www.econbiz.de/10005407881
An econometric methodology is developed for nonparametric estimation of concave production technologies. The methodology, bases on the priciple of maximum likelihood, uses entropic distance and concvex programming techniques to estimate production functions.
Persistent link: https://www.econbiz.de/10005407883
El presente trabajo plantea un modelo estadístico flexible que captura paramétricamente la compleja condicionalidad y desvíos de normalidad que caracteriza a la estructura intertemporal de tasas de interés en la economía chilena entre los años 1992 y 2003. El modelo general consiste en una...
Persistent link: https://www.econbiz.de/10005407885