The presence of localized industrial aggregation, also from the viewpoint of regional and country growth theories, can be regarded as a potential competitive advantage for regions or nations. While there is an abundance of qualitative analysis of the clustering of single industries and the way...

Information on the capital stock employed in a firm is missing in data sets from official statistics in Germany. This paper presents a method to estimate the capital stock of manufacturing enterprises that are covered by the cost structure survey from German official statistics. It uses data...

We generalise the spectral EM algorithm for dynamic factor models in Fiorentini, Galesi and Sentana (2014) to bifactor models with pervasive global factors complemented by regional ones. We exploit the sparsity of the loading matrices so that researchers can estimate those models by maximum...