There is near universal agreement that estimates and inferences from spatial regression models are sensitive to particular specifications used for the spatial weight structure in these models. We find little theoretical basis for this commonly held belief, if estimates and inferences are based...

We discuss Monte Carlo methodology that can be used to explore alternative approaches to estimating spatial regression models. Our focus is on models that include spatial lags of the dependent variable, e.g., the SAR specification: y = ρ W y X β Ε. A major point is that following publication...

There is near universal agreement that estimates and inferences from spatial regression models are sensitive to particular specifications used for the spatial weight structure in these models. We find little theoretical basis for this commonly held belief, if estimates and inferences are based...

County-level estimates of employment, unemployment, and the unemployment rate are not produced directly from a sample survey; rather, they are developed through models that use information on the labor force from a number of statistical programs such as the CPS (Current Population Survey), CES...

Expectations in housing prices play an important role in real estate research. Despite its importance, obtaining a reasonable proxy for such expectation is a challenge. The existing literature in mortgage research either does not include proxies of housing expectations in empirical models or...

This paper investigates the influence of expected foreclosure duration on a borrower's future default propensity. We use the lagged actual time-varying state-level foreclosure times as proxies for borrower's expected benefit from default as the form of "free rent.'' While existing literature...

A seller sets the list price based upon their ex-ante perception of the trade-off between marketing duration versus transaction price, which depends on the liquidity of the property and the depth of the market. As such, list prices reflect property, market, and seller characteristics. In...

We develop an additive Cox proportional hazard model with time-varying covariates, including spatio-temporal characteristics of weather events, to study the impact of weather extremes (heavy rains and tropical cyclones) on the probability of mortgage default and prepayment. We estimate the model...