Utilizing a novel econometric approach, routed around the identification and estimation of spatial panel VAR model, the paper provides new estimates of the dynamic effects of private and public R&D expenditure on innovative activity within European regions. The positive long run response of...

Bootstrapping methods have so far been rarely used to evaluate spatial data sets. Based on an extensive Monte Carlo study we find that also for spatial, cross-sectional data, the wild bootstrap test proposed by Davidson and Flachaire (2008) based on restricted residuals clearly outperforms...

Abstract This paper examines the impact of agricultural subsidies on rental rates for grassland. In theory, the capitalization of subsidies into grassland rents has become increasingly important as a result of the decoupling of direct payments from production in 2005. The focus is on the...