The role of the housing market in the everyday life of society is difficult to overestimate. The housing rents and prices directly affect standard of living of virtually every person. Housing loans constitute the largest liability of households and account for a large proportion of bank lending....

This study develops an easy forecasting model using prefectural data in Japan. The Markov chain known as a stochastic model corresponds to the vector auto-regressive (VAR) model of the first order. If the transition probability matrix can be appropriately estimated, the forecasting model using...

Forecasting regional variables provides very important information for political, institutional and economic agents. However, in the present context characterized by important decline of economies, heterogeneous data and regional interdependencies, it is even more difficult to carry out accurate...

In this paper, we assess the accuracy of macroeconomic forecasts at the regional level using a unique data set at quarterly frequency. We forecast gross domestic product (GDP) for two German states (Free State of Saxony and Baden-Württemberg) and Eastern Germany. We overcome the problem of a...

Agglomeration economies play an important role in the explanation of the development and regional growth. For this reason, there exists a growing interest in the analysis of standards of co-localisation of the economic activities. This topic has been dealt with from different approaches using a...

Population changes are decisive for growth performances. This has been shown in a number of country studies, using time series data. The analysis is here extended in two dimensions: 1) the importance of demographics for growth is taking in to account a regional dimension allowing for spatial...