Abstract This paper estimates a spatial wage structure for the United States. I employ the market-access and supplier-access method of Redding and Venables (2004), where access is determined using interstate trade data. Economic geography models predict that state-level wages are correlated to...

This paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than...

This article investigates responses to changes in solvency by occupational pension funds using a unique panel data set containing the balance sheets of all registered pension funds in the Netherlands over a period of 13 years (1993--2005). A fixed discount rate for liabilities in the supervisory...

This paper is concerned with the estimation of a dynamic panel data model with individual fixed effects and a linear trend term with heterogenous coefficients. We expand the available methods for the standard dynamic panel data model to this case, and discuss modified OLS, IV and GMM methods. We...

We specify a spatial computable general equilibrium model for the Netherlands based on the so-called New Economic Geography. The model distinguishes 14 sectors, two modes of transportation and over 500 municipalities. Key parameters are estimated by fitting predicted interregional trade flows to...