The objective of this study is to identify knowledge spillovers that spread across regions in Europe and vary in magnitude for different industries. The study uses a panel of 203 NUTS-2 regions covering the 15 pre-2004 EU-member-states to estimate the impact over the period 1998-2003, and...

This paper develops a multivariate regime switching monetary policy model for the US economy. To exploit a large dataset we use a factor-augmented VAR with discrete regime shifts, capturing distinct business cycle phases. The transition probabilities are modelled as time-varying, depending on a...

Parameter estimation is one of the central issues in neural spatial interaction modelling. Current practice is dominated by gradient based local minimization techniques. They find local minima efficiently and work best in unimodal minimization problems, but can get trapped in multimodal...