We present a model for studying regional and sectoral variation in total factor productivity (TFP) and develop an empirical test, based on the skewness of TFP distribution, to empirically distinguish between different growth theories. While negative skewness is consistent with the...

The socioeconomic importance of housing and its medium- and long-term investment returns requires a significant effort to predict future dynamics to ensure that the different real estate market agents make the best decisions. Furthermore, the territory structure and the lack of information and...

A decision problem is relatively complex and broadly involves two distinct moments, i) information gathering and ii) use of available information and decision-making. In the first case one can discuss the potential of rigorous methods (statistical analysis and modelling) commonly used to enable...

Spatial homogeneity is a strong assumption in the hedonic housing price context; if not analyzed conveniently it can be a potential source of specification errors. Spatial heterogeneity occurs when a territorial segmentation exists in the housing market and, therefore, either the hedonic prices...