Sensitivity analysis has become an important tool to test the robustness of estimated economic models. In this paper we propose the use of simulation-based sensitivity analysis to identify the fundamental structure of the economy. To show the possibilities of this technique, we provide empirical...

Abstract With the 2004 enlargement to the East, the EU regional growth process can no longer be seen in the frame of the traditional core–periphery pattern. This is why this article proposes an innovative methodology to endogenously detect convergence clubs while accounting for spatial...

The choice of an appropriate social rate of discount is critical in the decision-making process on public investments. In this paper we review concisely the literature on social discounting and refer explicitly to a recently growing field of related research, that is, individual time preference....

In this paper we study the real estate markets in modern age in the city of Milan over the period 1570-1670. In particular, by using a unique dataset of more than 1,000 rental contracts signed over the period, we estimate a hedonic price index for the housing market which allows us to identify...

A wealth of literature has focused on the effectiveness of cohesion policy for regional development. However, most studies have neglected the heterogeneous nature of such interventions. In this article, we study such heterogeneity by identifying different development strategies put in place by...

The 2004 IDB Infrastructure Conference Series included four major events that took place in Madrid (January 22-23), Washington, D.C. (February 19-20), Lima (March 27, during the Bank's Annual Meeting); and Tokyo (May 13). These events brought together leading specialists and stakeholders...

La Serie de Conferencias del BID sobre Infraestructura (2004) incluyó cuatro eventos que se celebraron en Madrid (22-23 de enero), Washington, D.C. (19-20 de febrero), Lima (27 de marzo, durante la Reunión Anual del Banco) y Tokio (13 de mayo). Estos eventos reunieron a especialistas e...

European regions have experienced a greater presence of service producers in their economy over the last few decades. Indeed, the manufacturing sector increasingly contracts out many activities to intermediate producer services. This is mostly because they are located close to each other and...