International and interregional trade and transport are on the rise and hence, there is a clear need for reliable estimates of transport flows. However, the available databases and estimation methods are not yet satisfactory for analytical and predictive purposes. In this paper we explore the...

In this paper, we derive a structural model for commuting speed. We presume that commuting speed is chosen to minimise commuting costs, which encompass both monetary and time costs. At faster speed levels, the monetary costs increase, but the time costs fall. Using data from Great Britain, we...

In this paper we compare market prices of credit default swaps with model prices. We show

Proponents of the so-called New Economy claim that it entails a structural change of the economy. Such a change, in turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between inf1ation and economic growth are no longer valid. But such...

Traditional labour supply theories stress economic variables as unemployment and wages to explain differences in labour supply behaviour. Nowadays a number of trends can be observed in the literature about labour supply theory and modelling: the integration of market-based and power based...

In this paper we introduce the STAR-STGARCH model that can characterize nonlinear behaviour both in the conditional mean and the conditional variance. A modelling cycle for this family of models, consisting of specification, estimation, and evaluation stages is constructed. Misspecification...

We consider eight different measures (issued amount, coupon, listed, age, missing

Recent work on complex adaptive systems for modeling financial markets is surveyed. Financia1 markets are viewed as evolutionary systems between different, competing trading strategies. Agents are boundedly rational in the sense that they tend to follow strategies that have performed well,...

In this paper, I study the wage a firm sets to attract high ability workers (hipo's) in situations of unemployment. I show that the higher unemployment, the larger a firm's incentives to sort high and low ability workers. Moreover, workers will signal their (high) ability in situations of (high)...

Nowadays, migrants form a significant share of the urban population, and their business is critical for urban economic growth. This paper addresses the key factors determining the position of migrant entrepreneurs in the urban economy in the Netherlands. In order to develop a solid assessment of...