This paper reconsiders the theoretical foundations of EU regional policy in economics. It begins with a discussion of the line of thought of its prevalent explanation in equilibrium economics which is focusing on market failures as its key underpinning and which is the major toolkit of...

This paper examines the extent to which agglomeration of the hospital service industry enhances the productivity of producing health care. Specifically, we use a large set of private insurance claims from the FAIR Health database to show that an increasing spatial concentration of hospital...

The basic purpose of the study is to find a metric-variable of competitiveness for each country's tax regime and to assess the impact of tax regime differentiation across the common market. A country adopting competitive taxation policies manages to attract productive factors, funds and...

The objective of this paper is to show how the same market failures that contribute to urban sprawl also contribute to urban blight. The paper develops a simple dynamic model in which new suburban and older central-city properties compete for mobile residents. The level of housing services...

In the past few years sustainability and sustainable development have become important concepts widespread over the world. There is no agreement on a common definition of sustainability, but there is a general need to measure and assess sustainability in different geographical and spatial...

Children from poor families achieve more academically if they are enrolled in schools that are socioeconomically integrated, but low-income students are increasingly attending schools characterized by high concentrations of poverty. Providing more housing opportunities for low-income families...

Nightlife is a collective term for entertainment that is available and generally more popular from the late evening into the early hours of the morning. It includes pubs, bars, nightclubs, parties, live music, concerts, cabarets, theaters, cinemas, and shows. These venues often require a cover...

The performance of a hybrid mortgage instrument is examined, which is structured as a managed fund with a 5-and-20 rule: viz. the management entity earning a 5% fee based on portfolio value and a 20% fee on all returns in excess of 8%. It is demonstrated that the hybrid security is able to...

We provide a new framework for using text as data in empirical models. The framework identifies salient information in unstructured text that can control for multidimensional heterogeneity among assets. We demonstrate the efficacy of the framework by re-examining principal-agent problems in...

We utilize a novel method from Phillips, Shi and Yu (2013) to investigate whether Singaporean real estate markets have experienced bubbles. This method involves a doubly recursive right tailed unit root test which can be used for real time policy decisions. We fi nd that the Singaporean real...