With its recently announced strategy "Europe 2020", the European Union picks up two major challenges: transforming the economy into a knowledge society with innovation as the main driver of economic growth and cohering a population whose workforce is shrinking and aging. Two benchmarks of this...

The objective of this paper is to empirically detect credit rationing of Polish farms. Based on cross-sectional survey data and motivated by a microeconomic farm household model, this effort is pursued by a methodology consisting of three interrelated steps. These steps include the analysis of...

Discrete choice models are widely used in studies of recreation demand. They have proven valuable when modeling situations where decision makers face large choice sets and site substitution is important. However, when the choice set faced by the individual becomes very large (on the order of...

This dissertation is comprised of three essays on nonparametric Bayesian modeling in microeconometrics. The introduction discusses some basic concepts of Bayesian nonparametrics including the Dirichlet process and the mixture of Dirichlet processes model. Further, the literature on estimating...

This paper investigates the effects of ordinal regressors in linear regression models. Each ordered categorical variable is interpreted as a rough measurement of an underlying continuous variable as it is often done in microeconometrics for the dependent variable. It is shown that using ordinal...

The polychoric correlation is an ML estimator for the correlation parameter between two latent variables. Each latent variable is only observed as an ordered categorical indicator. This estimator is based on an assumption on the joint distribution for the latent variables which in this case is...

The Banco de España uses various microeconomic models, mostly of an empirical nature, to support its decision-making in relation to the analysis of economic and financial risks and economic policy advice. These models, which complement those of a macroeconomic nature, seeks to identify the...

El Banco de España utiliza distintos modelos de carácter microeconómico, mayoritariamente de naturaleza empírica, para sustentar su toma de decisiones en relación con el análisis de los riesgos económicos y financieros y del asesoramiento de la política económica. Esta familia de...