Transport connectivity is among the most important factors in increasing firm productivity and accelerating economic development. The literature generally supports the idea of agglomeration economies, although there is little evidence of their effectiveness in Africa. There are often empirical...

Motivated by the promising performance of alternative estimation methods for mixed logit models, in this paper we derive, implement, and test expectation-maximization (EM) and minorization-maximization (MM) algorithms to estimate the semiparametric logit mixed logit (LML) and mixture-of-normals...

Quantitative spatial economics (QSE) specifies various components such as preferences, production technology, and frictions for the movement of goods, people, and ideas. Despite the long literature on endogenous location decisions, the question of how these specifications affect resulting...

This paper presents a practical approach to estimate the substitution probabilities between products at a retail store by using the store's point of sale data and prospect theory based structural restrictions on the consumer choice behavior. The prospect theory based reference dependent...

Tax arbitrage is often cited as a potential motive for the substantial growth and complexity of market based finance. Tax treaties are an important feature of the international tax system and can be used to reduce the tax burden on cross-border capital flows. Using an EU firm-level dataset and a...

Ten years after the worldwide financial and economic crisis was triggered by the American real estate market, real estate prices are rising around the globe. Concerns about a new housing bubble are growing. The present report based on OECD data for 20 countries demonstrates that this concern is...