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A comparison of spatial error models through Monte Carlo experiments

Kato, Takafumi - In: Economic Modelling 30 (2013) C, pp. 743-753

A spatial error model is classified as a geostatistical model or a weight matrix model on the basis of the method of specification of spatial autocorrelation in the disturbance. Specification errors cannot be assumed to be absent, and the robustness of alternative specifications is useful for...

Persistent link: https://www.econbiz.de/10010608299

The asymmetric reaction of monetary policy to inflation and the output gap: Evidence from Canada

Komlan, Fiodendji - In: Economic Modelling 30 (2013) C, pp. 911-923

This paper empirically analyzes the interest rate behavior of the Canadian monetary authorities by taking into account possible asymmetries in the loss function. We employ a switching regime framework using two estimation strategies: First, we follow Caner and Hansen's (2004) threshold approach....

Persistent link: https://www.econbiz.de/10011048697

Forecasting tourism demand to Catalonia: Neural networks vs. time series models

Claveria, Oscar; Torra, Salvador - In: Economic Modelling 36 (2014) C, pp. 220-228

The increasing interest aroused by more advanced forecasting techniques, together with the requirement for more … evaluate the forecasting performance of neural modelling relative to that of time series methods at a regional level … compare the forecasting performance of linear models to that of nonlinear alternative approaches. Pre-processed official …

Persistent link: https://www.econbiz.de/10010729816

Forecasting the yield curve and the role of macroeconomic information in Turkey

Kaya, Huseyin - In: Economic Modelling 33 (2013) C, pp. 1-7

In this study we investigate the yield curve forecasting performance of Dynamic Nelson–Siegel Model (DNS), affine term … variables in forecasting the yield curve. We have reached numbers of important results: 1—Macroeconomic variables are very … useful in forecasting the yield curve. 2—The forecasting performances of the models depend on the period under review. 3 …

Persistent link: https://www.econbiz.de/10011048868

Macroeconomic shocks and the probability of being employed

Kornstad, Tom; Nymoen, Ragnar; Skjerpen, Terje - In: Economic Modelling 33 (2013) C, pp. 572-587

Macroeconomic theories take polar views on the importance of choice versus chance. At the micro level, it seems realistic to assume that both dimensions play a role for individual employment outcomes, although it might be difficult to separate these two effects. Nevertheless the choice and...

Persistent link: https://www.econbiz.de/10010737957

Waiting times and socioeconomic status: Does sample selection matter?

Sharma, Anurag; Siciliani, Luigi; Harris, Anthony - In: Economic Modelling 33 (2013) C, pp. 659-667

An increasing amount of empirical evidence suggests that patients with higher socioeconomic status wait less within publicly-funded hospitals to receive non-emergency (elective) surgery. Using data from Australia, we investigate the extent to which such gradient can be explained by sample...

Persistent link: https://www.econbiz.de/10010738010

Income distribution dynamics across European regions: Re-examining the role of space

Maza, Adolfo; Hierro, María; Villaverde, José - In: Economic Modelling 29 (2012) 6, pp. 2632-2640

This paper is aimed at exploring the role played by space on the dynamics of regional per capita income disparities in Europe between 1980 and 2005. To do that, an analysis based on the so-called distribution dynamics approach is used as benchmark. Therefore, the external shape of the per capita...

Persistent link: https://www.econbiz.de/10011048755

Spatial patterns of flypaper effects for local expenditure by policy objective in Japan: A Bayesian approach

Kakamu, Kazuhiko; Yunoue, Hideo; Kuramoto, Takashi - In: Economic Modelling 37 (2014) C, pp. 500-506

The empirical work on local public finance has found that the marginal effect of lump-sum grants on expenditure is larger than that of income, thereby providing evidence of the “flypaper effect”. However, most existing studies only employ single equation models to test the flypaper effect....

Persistent link: https://www.econbiz.de/10011048770

Debt, interest rates, and integration of financial markets

Claeys, Peter; Moreno, Rosina; Suriñach, Jordi - In: Economic Modelling 29 (2012) 1, pp. 48-59

It is commonly believed that higher budget deficits raise interest rates. However, these crowding out effects of increasing public debt have usually been found to be small or non-existent. One explanation is that on globalised bond markets interest rate differentials are offset due to financial...

Persistent link: https://www.econbiz.de/10011048781

Income convergence in Japan: A Bayesian spatial Durbin model approach

Seya, Hajime; Tsutsumi, Morito; Yamagata, Yoshiki - In: Economic Modelling 29 (2012) 1, pp. 60-71

With the collapse of the bubble economy in the early 1990s, economic disparities among both people and regions have arisen in Japan. Although developments in spatial econometrics have provided regional convergence studies with highly effective tools to explicitly consider spatial dependence and...

Persistent link: https://www.econbiz.de/10011048852