Spatial effects and common-shocks effects are of increasing empirical importance. Each type of effect has been analyzed separately in a growing literature. This paper considers a joint modeling of both types. Joint modeling allows one to determine whether one or both of these effects are...

This paper investigates efficient estimation of heterogeneous coefficients in panel data models with common shocks, which have been a particular focus of recent theoretical and empirical literature. We propose a new two-step method to estimate the heterogeneous coefficients. In the first step,...

We explore the effect of cross-sectional aggregation of data on estimation and test of asymmetric retail fuel price responses to wholesale price shocks. The analysis is performed on data collected daily from individual fuel stations in the Spanish metropolitan areas of Madrid and Barcelona....

Econometrics is the area of statistics concerned in analyzing economic data, for both economic and business applications. This document, introduces the intermediate concepts of this area, for students already familiarized with basic econometric theory. In particular, topics concerning...

This study contributes to existing literature on firms’ innovative activity examining the relationship between the R&D rivalry and spillovers at the firm level. In particular, we present an empirical analysis in United States, Japan and Europe based upon a new dataset composed of 879 worldwide...

This paper assess the empirical validity of the neoclassical migration model to predict German internal migration flows driven by regional labour market disparities. We estimate static and dynamic migration functions for 97 Spatial Planning Regions between 1996--2006 using key labour market...

This paper considers the issue of GMM estimation of a short dynamic panel data model when the errors are correlated across individuals. We focus particularly on the conditions required in the cross-sectional dimension of the error process for the dynamic panel GMM estimator to remain consistent....

In this paper we examine the effect of dollar stores on children's Body Mass Index (BMI). We use a dataset compiled by the Arkansas Center for Health Improvement which created and implemented the BMI screening process for all public school children in the state of Arkansas. We combine propensity...

This paper analyzes multifactor models in the presence of a large number of potential observable risk factors and unobservable common and group-specific pervasive factors. We show how relevant observable factors can be found from a large given set and how to determine the number of common and...

The paper analyzes the migration dynamics in Americas from 1960 to 2005 using an equilibrium approach as is proposed in Sjaastad (1969) y Todaro (1969). With recent spatial econometrics techniques the migration flow is evaluated, controlling for labor mobility effect and regional wages....