Spatial Econometrics (Economics)

El presente trabajo aborda la transmisión intergeneracional de habilidades cognitivas en México, evaluando cómo estas capacidades, medidas a través del test de matrices progresivas de Raven, se transmiten de padres y madres a hijos/as a la luz de la movilidad social intergeneracional. Utilizando datos longitudinales de la ENNVIH para los años 2002 y 2009-2012, el estudio adopta un enfoque de panel con efectos fijos para controlar características invariables a lo largo del tiempo. Los resultados sugieren que tanto las habilidades cognitivas paternas como maternas influyen significativamente en el desempeño cognitivo de los hijos/as, aunque con diferencias entre los periodos analizados, destacando que el impacto es mayor en las madres. Se enfatiza la importancia de implementar políticas públicas orientadas al desarrollo cognitivo desde la niñez para romper ciclos de desigualdad y fomentar la movilidad social. Asimismo, se reflexiona sobre cómo las limitaciones en el acceso a recursos educativos perpetúan la desigualdad, subrayando la necesidad de intervenciones que fortalezcan las capacidades cognitivas en contextos vulnerables para promover mayor equidad y desarrollo económico sostenible.

RESUMEN: La Economía Regional acaba de cumplir cincuenta años. Es una disciplina joven comparada con otras ramas de la Economía; aunque se ha avanzado mucho en este campo. Existe hoy en día un vasto y extenso número de aproximaciones teóricas y metodológicas que incorporan el espacio en los esquemas, leyes y modelos lógicos que regulan e interpretan la formación de precios, la demanda, la capacidad productiva, los niveles de producción y desarrollo, las tasas de crecimiento, y la distribución de la renta bajo condiciones desiguales en las dotaciones regionales de recursos. Este trabajo ofrece el estado del arte de la Economía Regional con el propósito de destacar los logros científicos obtenidos hasta la fecha y subrayar los vacíos teóricos y metodológicos que necesitan ser resueltos. Gracias a las contribuciones de teóricos reconocidos, se presentarán algunos aspectos que parecen contradictorios con las creencias generales. Los desafíos futuros, por lo tanto, se derivan de una lectura crítica de los logros alcanzados hasta ahora.

Este trabajo pretende investigar como se comporta un modelo de crecimiento del empleo en un territorio geograficamente cerrado considerando tanto su vertiente espacial, y el efecto de rebosamiento espacial de la variable endogena de empleo, como su vertiente temporal considerando el comportamiento de las variables empleo y recursos en diferentes ejercicios economicos sucesivos. Esto ultimo permite incorporar el efecto de relacion temporal entre las variables permitiendo derivar otros indicadores temporales que segun el modelo faciliten una explicacion del comportamiento del empleo en el tiempo. Para evaluar el modelo se ha tomado como piloto una subcomarca de acentuado caracter rural de Palencia, y se ha utilizado la modelacion SUR Espacial.

A key assumption of European policy makers is that the introduction of migration
restrictions reduces the volume of irregular migration. Our analysis addresses this
assumption by looking at the spike of irregular migration on the Aegean in 2015-2016
through a stylized model. Our stylized model does not pretend to fully capture the
decision-making process of either people in need of international protection or of people
considering to act as smugglers. We have abstracted from many aspects which are known
to be relevant.
Our model does allow us to examine the impact of restrictive migration policies. While policy
makers and much of the academic literature assume that restrictive policies reduce the flow
of migrants, our analysis shows that the restrictive measures which migrants and smugglers
expect considerably increase the flow before the introduction of restrictive policy measures,
while resulting in a reduction only after their enforcement. In other words, restrictive
migration policies have ambiguous effects. On the one hand they result in spikes (perceived
in 2015-2016 as a migration crisis), while on the other hand restrictive migration policies may
contribute to a lower aggregate volume of migration in the long run.
This means that the peaking number of asylum seekers in Europe in 2015-2016 (resulting
in the perceived migration crisis) were an unintended effect of restrictive European
migration policies. If people in need of international protection would not have had
reason to expect restrictive policy measures any moment, the peak of people crossing the
Aegean would, according to our stylized model, have been at 70.000 people in the spring
of 2016, instead of the 212.168 people who actually crossed in October 2015. This is an
unintended effect of restrictive policy; this effect has been a key ingredient of the
perceived migration crisis in 2015-2016.
According to our stylized model, if people in need of international protection would not
have had reason to expect restrictive policies, the total number of people crossing the
Aegean over the period 2015-2020 may have been up to 20 percent higher. However, this
possibly larger number of people would have arrived more gradually, which would have
been more manageable in terms of reception of asylum seekers, asylum procedures, and
security checks.
And finally, according to our model, financially supporting hosting countries for providing
humanitarian and socio-economical aid to refugees has reduced the number of people
who were willing to pay a smuggler in order to travel to Europe. In other words, the effects of providing funding for refugees in Turkey has had unambiguous, positive effects on
reducing the volume of irregular migration towards Europe and deaths at the borders.

Ülkelerin toplumsal ve ekonomik gelişmelerinde genç nüfus önemli bir yere sahiptir. Sosyal ve ekonomik politikalarda avantaj olarak görülen genç nüfusun eğitim, istihdam ve yetiştirmede olması ülkelerin gelişmişlik düzeylerine ve ekonomilerine olumlu etki sağlarken eğitim, öğretim ve yetiştirme dışında kalan gençler sosyal ve ekonomik açıdan ülkelere maliyet oluşturmaktadır. Türkiye 2020 yılı verilerine göre OECD ülkeleri arasında kadın, erkek ve toplam oranda en yüksek NEET ("Not in Education, Employment or Training", "Ne Eğitimde Ne İstihdamda Ne De Yetiştirmede") oranına sahip ülke konumundadır. NEET konusu Türkiye için özel önem gerektiren bir konu hâline gelmiştir. Bu nedenle bu çalışmada Türkiye'de 15-24 yaş aralığındaki istihdam, eğitim ve yetiştirmede olmayan genç oranlarının bölgesel düzeydeki etkileşimlerini incelemek amacıyla mekansal analiz yapılmıştır. NEET oranını etkilediği düşünülen değişkenler modele dahil edilmiş ve çıkan sonuçlara göre mekansal etkinin mekansal hata teriminden kaynaklandığı yani bir bölgedeki NEET oranları ile komşu bölgedeki NEET oranları arasında doğrudan bir ilişki olmadığını ancak mekansal ilişkilerden kaynaklanan bağımlılığın mevcut olduğunu göstermiştir.

Human Development and its regional disparity is an area of topical interest. In this paper, we consider space as an instrumental variable in understanding this disparity and explore spatial interdependence in human development across districts of West Bengal using alternate indicators of human development. This study uses both the standard United Nations Development Programme (UNDP) technique and an alternative methodology to construct a sub-national human development index. Spatial interdependence is measured using Moran's I coefficient and Local Indicators of Spatial Autocorrelation (LISA) cluster maps. Spatial regression is used to evaluate the spatial association between the Human Development Index as the dependent variable and a few independent variables. A high degree of clustering in all three dimensions of human development is observed among the southern districts of West Bengal. The pattern of cluster maps indicates the presence of both the growth pole process and the metropole-periphery process in the state. Spatial regression results indicate that the share of socially backward class population and urbanization rate are important variables affecting regional human development patterns. The findings of this study suggest policies targeted to promote social inclusion and urbanization linked with better access to economic opportunities in the lagging areas can help reduce regional imbalances.

It is well known that the broad concept of localisation has two connotations, namely, regional specialisation and industrial concentration. The main purpose of this paper is to introduce an entropy index of overall localisation suitable to conceptualise specialisation and concentration as the two sides of the same medal in a nested geographical perspective. The system of dissimilarity entropy measures is potentially applicable to the assessment of the spatial distribution of several economic phenomena when a twofold geographical level of analysis is considered. In the specific case, the decomposition provides an accurate method to quantify the crosscountry divergence in localisation from the agglomeration within countries.

Policy evaluation studies, which intend to assess the effect of an intervention, face some statistical challenges: in real-world settings treatments are not randomly assigned and the analysis might be further complicated by the presence of interference between units. Researchers have started to develop novel methods that allow to manage spillover mechanisms in observational studies; recent works focus primarily on binary treatments. However, many policy evaluation studies deal with more complex interventions. For instance, in political science, evaluating the impact of policies implemented by administrative entities often implies a multivariate approach, as a policy towards a specific issue operates at many different levels and can be defined along a number of dimensions. In this work, we extend the statistical framework about causal inference under network interference in observational studies, allowing for a multi-valued individual treatment and an interference structure shaped by a weighted network. The estimation strategy is based on a joint multiple generalized propensity score and allows one to estimate direct effects, controlling for both individual and network covariates. We follow the proposed methodology to analyze the impact of the national immigration policy on the crime rate. We define a multi-valued characterization of political attitudes towards migrants and we assume that the extent to which each country can be influenced by another country is modeled by an appropriate indicator, summarizing their cultural and geographical proximity. Results suggest that implementing a highly restrictive immigration policy leads to an increase of the crime rate and the estimated effects is larger if we take into account interference from other countries.

We describe the recent trends that characterize the location of bank branches, automated teller machines (ATM) and point of sales terminals (POS) in Mexico, and evaluate whether bank infrastructure has expanded to previously uncovered regions. Further, we analyze the relationship ...

Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public. If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.

With the development of global economy and rapid process of urbanization, migration has become one of the key forces in population redistribution and has important implications for socio-economic development in a region. As we all know, population migration flows between different regions are related to not only the origin- and destination-specific characteristics, but also to the migration flows to and from neighborhoods. Intuitively, changes in the characteristics of a single region will impact both inflows and outflows to and from other regions. In order to explore the spatial interaction mechanism driving the increasing population migration in China since the open door policy, this paper builds the spatial OD model of interprovincial migration flows based on the sixth national population census data and related social-economic data. The findings are as follows: (1) Migration flows show significant autocorrelation effects among origin and destination regions, which means that the...

In this paper, we provide additional evidence on the intraday lead-lag relationship in the S&P 500 stock index futures market. In particular, we focus on the dynamic interactions of market volatility. In contrast to previous studies, we follow Andersen et al by using realised volatility to estimate market volatility. The empirical findings support the existence of a unidirectional causal relationship between futures market volatility and spot market volatility, suggesting that the arrival of new information disseminates faster in the derivative market.

A partir de los datos de ingreso per cápita anual estimados por el Programa de las Naciones Unidas para el Desarrollo (PNUD) en la elaboración del índice de desarrollo humano municipal en México, se comprueba que, en el interior de Chiapas durante el periodo 2000- 2005, se dio un proceso de fuerte convergencia a nivel municipal al tiempo que no hubo convergencia regional. Para explicar esta aparente inconsistencia, se reexamina el artículo «Regression towards mediocrity in hereditary stature» publicado por Galton en 1886, concluyendo que el nivel de agrupación de los datos (municipal o regional) condiciona los resultados del análisis de convergencia, ya que la agrupación de los municipios en regiones origina pérdidas de información que pueden generar fenómenos de «regresión hacia la media» o justo lo contrario, como es el caso. En Chiapas, la convergencia municipal habría dado lugar a la convergencia dentro de las regiones, pero no entre regiones.

We use multi-unit multi-bid common value auction models with private information to draw empirical implications on how bidding behavior in bond auctions is affected by secondary market price volatility, implications that we test using individual bidding data for 88 bond auctions held between 2003 and 2007 by the Spanish Treasury. The main novelty of the paper is that we analyze the effect of volatility in bidders heterogeneous behavior within an auction. We provide evidence that, as the theoretical models predict, the heterogeneity of bidders' bid shading increases with volatility, and that, on average across auctions, bid shading and bidders' profit also increase with volatility.

We use multi-unit multi-bid common value auction models with private information to draw empirical implications on how bidding behavior in bond auctions is affected by secondary market price volatility, implications that we test using individual bidding data for 88 bond auctions held between 2003 and 2007 by the Spanish Treasury. The main novelty of the paper is that we analyze the effect of volatility in bidders heterogeneous behavior within an auction. We provide evidence that, as the theoretical models predict, the heterogeneity of bidders' bid shading increases with volatility, and that, on average across auctions, bid shading and bidders' profit also increase with volatility.

This paper considers a panel data model with time-varying individual effects. The data are assumed to contain a large number of cross-sectional units repeatedly observed over a fixed number of time periods. The model has a feature of the fixed-effects model in that the effects are assumed to be correlated with the regressors. The unobservable individual effects are assumed to have a factor structure. For consistent estimation of the model, it is important to estimate the true number of factors. We propose a generalized methods of moments procedure by which both the number of factors and the regression coefficients can be consistently estimated. Some important identification issues are also discussed. Our simulation results indicate that the proposed methods produce reliable estimates.

En este trabajo se estudia el crecimiento y desarrollo en los municipios del estado de Sonora. El método estadístico de componentes principales ayuda a estimar un índice de desarrollo socioeconómico municipal (iDsem), el cual muestra la concentración del desarrollo en la entidad; así mismo, se utiliza un modelo econométrico y se identifican los factores que incentivan el desarrollo de la población en los municipios del estado. Además se aplica la metodología de Mankiw, Romer y Weill (1992), que primero consideran el modelo de Solow (1956) y luego incluyen el capital humano. Se encontró que no hay una tendencia de que los municipios pobres crezcan más rápido que los municipios ricos, lo que significa que no existe un proceso de convergencia en los municipios de Sonora.

En este estudio se analizan los factores que determinan el desempeño económico de los estados de México. Estos factores se relacionan con la producción inventiva, el capital humano y el capital industrial. El periodo de análisis comprende entre 1997 y 2016 desde una perspectiva regional, con la finalidad de ilustrar la existencia de un efecto espacial positivo, es decir, la existencia de una complementariedad entre los estados. Entre los hallazgos, se tiene un efecto positivo y significativo de la educación, la capacidad inventiva y el capital industrial sobre el desempeño económico del territorio nacional. Asimismo, la vecindad entre los estados impacta de forma positiva y significativa en el desempeño de la economía mexicana.

La pobreza es un problema en la medida en que los bajos ingresos crean complicaciones para quienes no son pobres y esto puede constituirse en verdadera tragedia. De ello nace la preocupación por parte de los gobiernos de turno por gestionar una inversión social saludable, equitativa y visionaria que disminuya la pobreza y equipare los niveles de vida. El objetivo del presente trabajo es determinar la incidencia de la Inversión Social (Educación, Salud, Trabajo, Vivienda y Bienestar Social) en la pobreza, utilizando como indicador el Índice de Sen en Ecuador en un periodo de 10 años, a través de un modelo econométrico lineal con Mínimos Cuadrados Ordinarios. Al establecer la incidencia de los sectoriales de la inversión social (Educación, Salud, Bienestar Social, Desarrollo Urbano y Vivienda, Trabajo) en el Índice de Sen, cumpliendo con un modelo óptimo la mayoría de los sectoriales, a excepción del Bienestar Social, tienen incidencia en el Índice de Sen del Ecuador.

TEZ11033Tez (Yüksek Lisans) -- Çukurova Üniversitesi, Adana, 2016.Kaynakça (s. 99-102) var.viii, 103 s. : tablo ; 29 cm.Ölçüm, deneysel araştırmalar için temel bir işlemdir. Çoğu konuda yapılan çalışmaların sonuçları, sayısal büyüklüklerle ifade edilen ölçümler yardımı ile elde edilir. Yapılan araştırma yöntemini anlayabilmek için ölçümler yapılır, ancak yapılan ölçümler bazen bir miktar hata içerebilmektedir. Değişkenlerdeki ölçüm hataları sebebiyle parametre tahminleri yanlı ve tutarsız olabilmektedir. Değişkenlerin ölçüm hatalı olması, yanlış fonksiyonel biçimlendirme, gerekli değişkenin ihmal edilmesi, gereksiz değişkenin modelde yer alması gibi durumlar bazı sapmalara neden olabilir. Bu sapma veya tutarsız olma durumlarında, ölçüm hataları ile başa çıkabilmek için bazı alternatif kestirim yöntemleri önerilmiştir. Bu çalışmada değişkenlerin ölçüm hatalı olması durumunda neler yapılabileceğini inceleyeceğiz. Dolayısıyla ölçüm hatalarını en aza indirebilecek teknikler ile regresyo...

This paper explores the role of identity in voters’ decision to retain corrupt politicians. We build up a model of electoral accountability with pure moral hazard and bring it to the lab. Politicians must decide whether to invest in a public project with uncertain returns or to keep the funds for themselves. Voters observe the outcome of the project but not the action of the politician; if the project is unsuccessful, they do not know whether it was because of bad luck or because the politician embezzled the funds. We run two treatments; a control treatment and a treatment where subjects are assigned an identity using the minimal group paradigm. Our main result is that, upon observing a failed project, voters approve politicians of their same identity group significantly more often than in the control and compared to politicians of a different group. This is partially driven by a belief on same-identity politicians being more honest. We also observe that subjects acting as politicia...

This research was originally commissioned under the New Horizons programme. The New Horizons programme assists Communities and Local Government's horizon-scanning capabilities by seeking proposals from outside researchers to explore issues beyond the scope of our main research programmes. It encourages new and innovative approaches to issues and research, and probes the margins between orthodox and unconventional research methods. In addition, the programme looks forward with a view to identifying potential new challenges facing the Department over the next decade. Although this research was commissioned by Communities and Local Government, the findings and recommendations in this report are those of the author and DO NOT necessarily represent the views of Communities and Local Government.

Voter turnout in game theoretic models of voting has typically been difficult to predict because of the problem of multiple Nash equilibria. Many of these equilibria require an extreme precision of beliefs among voters that is unlikely to be reached in real elections. At the same time, mechanisms like pre-election polls exist to shape the beliefs of voters about expected turnout. We combine these two features in a model of voter learning in elections and derive the asymptotically stable equilibria of both complete and incomplete information games in a simple symmetric setting with two candidates. We also show how the model can be used to qualitatively explain several phenomena observed in reality: increases in costs of voting affect turnout adversely but there may be persistence of turnout levels between elections even though costs and other parameters change. Increase in uncertainty increases turnout while increases in the size of the electorate decrease it, in line with intuition.

Dentro de los estudios de mercado y potencial económico de un individuo, empresa y jurisdicciones geográfica se hace importante la utilización de Software apropiado para el análisis espacial, como es el OpenGeoda. Para el caso de Panamá, se utilizó una base de datos del producto Interno Bruto de Panamá (PIB) provincial, extrayéndose algunos mapas ilustrativos de las variables de producción y del mercado de trabajo en Panamá. De igual forma, se trabajó con una matriz inversa y se pudo ilustrar y calcular el índice de Moran. El software nos permitió trabajar modelos de econometría espacial que se pueden apreciar desde un mínimo cuadrado ordinario hasta modelos dinámicos en un análisis espacial y regional en Panamá

The education level that characterizes the population of a certain country is intrinsically linked to its level of economic and social development, being the correlation between these two factors generally significantly positive. Taking into account not only the economic and social impacts of higher education institutions on any territory, but also the change in the qualification structure of the population, this paper focuses on the contribution of the higher education network to the promotion of social cohesion by means of a cost-benefit analysis.

Many studies, provided by diverse authors and institutions, demonstrate that, at a territorial level, development is directly related to the level of education and R&D. Territories with higher development levels are, generally, those that have a higher level of education and R&D. The relationship between the acquisition of knowledge and institutional education is therefore decisive. In this area, the role of universities is fundamental. The retention of university graduates is one of the main ways that the cities and the regions can adopt to retain those endowed with higher propensity to innovation, enterprise spirit and management capacity. Given that higher education institutions, in general, and universities, in particular, are obviously crucial in the process of knowledge increase, it becomes important to analyse how can these institutions act as ways of spatial diffusion of knowledge given that their graduates may migrate to other regions of the country (or for another country). The alleged increased probability of this migration to occur when the university is located in a small or medium sized town makes that analysis also interesting from the viewpoint of the development role that this kind of cities can perform, not only in the adjacent rural areas, but also across all the urban areas of the territory. The focus of our work consists in this analysis, which complements a theoretical approach with an empirical part based upon the results that can be observed for the influence of one university located in a small/medium sized town (the University of Évora) in the spatial diffusion of knowledge through its graduates

This paper adopts a uni¯ed approach to the derivation of the asymptotic distributions of the seasonal unit root tests of Dickey et al. [DHF], Kunst, Hylleberg et al. [HEGY], Osborn et al. [OCSB], Ghysels et al. [GHL] and Franses. This uni¯ed approach emphasises the relationships between the tests and their asymptotic distributions, which are all shown to depend on the same vector of independent random walk processes. The Kunst test and the overall HEGY F-test are noted to be equivalent both asymptotically and in¯nite samples, while the Franses and GHL tests are based on equivalent parameterizations. The OCSB and DHF test regressions are restricted forms of the Kunst/HEGY regressions, with these restrictions having non-trivial asymptotic implications.

Os recursos humanos são um elemento essencial no desenvolvimento territorial. Quando os mesmos se caracterizam por um nível de formação elevado são potenciadores de uma série de efeitos que se revelam fundamentais no binómio coesão territorial-coesão social. Neste aspecto, a existência de instituições de ensino superior espalhadas pelo território permite a qualificação deslocalizada dos recursos humanos mas, por si só, não garante a fixação desses recursos nas diversas regiões. Assim, é objectivo deste trabalho proceder a uma análise de convergência espacial do conhecimento por via do estudo da evolução da percentagem da população possuindo um nível de ensino superior nos períodos decorridos entre os dois últimos censos em Portugal, i.e. entre 1991-2001 e 2001-2011. Mostra-se que, apesar de aquela percentagem ter subido apreciavelmente, o processo de convergência foi (muito) pouco significativo.

Regarding the EU policies of territorial cohesion is common to assume that, having the same been successful (in Portugal), regional disparities decreased. The purpose of this article is to assess the veracity of this allegation, for that considering the values of employment and unemployment rates by municipalities, determined in the last two censuses held in Portugal, i.e. 2001 and 2011. In doing so, spatial econometric techniques are used, namely local indicators of spatial association and spatial clusters, in order to better understand the eventual process of spatial convergence that may have occurred in Portugal in that period. The results point towards a spatial convergence of employment rates (both in total and by genres) and also of female unemployment rates but a spatial divergence of male unemployment rates.

R&D investments are seen has having an enormous potential impact on the competitive position of regions and perhaps on regional convergence (or divergence) too. The aim of the paper is to study both the localization of R&D investments and regional income distribution among the NUTs 3 regions of Portugal to conclude if these variables are related or not. We intend to answer questions like if geography influences the pattern of R&D investments and inequality, and if these ones reveal the presence of spatial correlation. Furthermore, we evaluate convergence or divergence in income growth and if it is related with R&D investments. After a brief introduction we evaluate the inequalities among regions using information about per capita GDP and per capita R&D investment. It follows the convergence analysis and conclusions. To study the spatial convergence (approximation) of per capita income (GDPpc) and R&D investments in the regions of Portugal, we use a standard methodology of spatial ec...

We intend to answer questions like if geography influences the pattern of inequality, that is, if the standard of living varies from region to region, with special attention to the borders, and if it reveals the presence of spatial correlation. The aim of the paper is to study the regional income differences among the NUTs 3 regions of Portugal and Spain in the borderland of these two countries. After a brief introduction we evaluate the inequalities among borderland regions using information about per capita wages. Considering the neighbourhood relationships between the NUTs 3 regions located in the Portugal-Spain border it is possible to conclude that wages are spatially autocorrelated.

Our research aims to address the problem of inequality in income distribution from a different perspective than the usual. We intend to verify if geography influences the pattern of inequality, that is, if the standard of living varies from region to region and if, in the process of growth, spatial units in Portugal have been converging in terms of most relevant variables, such as income. We search the answers to these questions by introducing the treatment of convergence between smaller territorial units, the municipalities as individuals. We intend to evaluate convergence or divergence in income growth and test empirically the theoretical hypothesis that β-convergence, although necessary, is not a sufficient condition for σ-convergence. To study convergence, we use information about GDP and wages for NUTS III regions, and wages for municipalities. We observe spatial dependence between municipalities, so we estimate spatial econometric models to test convergence. With regard to conditional convergence between municipalities, the model most appropriate is the one which includes in the explanatory variables the weight of primary sector employment, leading us to conclude that this variable distinguishes the "steady state" of the small economies. Variables like the activity rate and percentage of active population with higher education also reveal highly significant on the growth of wages, reflecting the different contexts of the labor market at regional level.

We examine the theoretical properties of the auction for Medicare Durable Medical Equipment. Two unique features of the Medicare auction are (1) winners are paid the median winning bid and (2) bids are nonbinding. We show that median pricing results in allocation inefficiencies as some high-cost firms potentially displace low-cost firms as winners. Further, the auction may leave demand unfulfilled as some winners refuse to supply because the price is set below their cost. We also introduce a model of nonbinding bids that establishes the rationality of a lowball bid strategy employed by many bidders in the actual Medicare auctions and recently replicated in Caltech experiments. We contrast the median-price auction with the standard clearing-price auction where each firm bids true costs as a dominant strategy, resulting in competitive equilibrium prices and full efficiency.

In order to study the volatility spillovers / the transfer of volatilities from spot and futures markets for the period 1st January 2001 to 30th November 2005 with high frequency data i.e., one minute intervals, we have used GARCH models to compute volatilities and VAR models for the returns of different markets and for the volatilities. It is evident that, these VAR models for the volatilities can exhibit the nature of the change in volatility. In a heat wave, the conditional variance of the returns in spot (futures) market depends only upon the past shocks in the given market. For meteor showers, the impact of shocks on spot (futures) markets are transferred from other i.e., futures (spot) markets. With the VAR (1)-GARCH (1,1) analysis, we found that both series are I(1) and that a bi-directional relationship exists between the spot and future market return series. Empirically it is evident that both heat waves and meteor showers exist in Indian spot and futures markets.

Las opiniones vertidas en este trabajo son exclusiva responsabilidad de los autores y no reflejan necesariamente la posición del Banco Central de la República Argentina. La serie ESTUDIOS BCRA Documentos de Trabajo está compuesta por material preliminar que se hace circular con el propósito de estimular el debate académico y recibir comentarios. Toda referencia que desee efectuarse a estos Documentos deberá contar con la autorización del o los autores.

Sosyo-ekonomik faktorler ulkelerin milli gelir, egitim, saglik, kisisel ozgurluk, girisimcilik, guvenlik, sosyal sermaye, issizlik gibi bircok unsuru kapsamaktadir. Toplumsal yapinin en onemli unsurlari olan bu degiskenler, insanlarin ihtiyaclarini ne olcude karsilayabildiklerini ortaya koymaktadir. Kalkinma cabasindaki ulkelerin performanslarinin degerlendirilmesinde bu sosyo-ekonomik faktorlerin iyi analiz edilmesi gerekmektedir. Ekonomik kalkinma incelenirken, toplumu etkileyen tum faktorler birlikte dikkate alinmalidir. Dolayisiyla ulkelerin sahip oldugu sosyo-ekonomik faktorlerin ekonomik kalkinma duzeylerine etkisi butuncul yaklasimi gerekli kilmaktadir. Soz konusu yaklasim, faktorler arasindaki iliskileri tek tarafli incelemeyi reddederek cok yonlu etkilesimlerini esas alir. Sosyo-ekonomik faktorler mekânsal etkiyle degisime ugramakta ve cografi yakinliklari olan bolgeleri etkilemektedir. Etkinin derecesi mekânsal bagimliliga gore farklilasirken ulkelerin ekonomik kalkinma du...

Bu çalışmada COVID-19'un İtalya'da birbirine komşu olan bölgeler arasında yayılma durumu mekansal bağımlılık istatistiği Moran I ile araştırılmıştır. Bu amaçla, İtalyanın 20 bölgesine ait veriler kullanılarak tek değişkenli ve iki değişkenli Global ve Local Moran I istatistikleri hesaplanmıştır. Tek değişkenli Moran I istatistiğinin sonucuna göre, bölgeler arasında sınır geçişleri yasaklanmadan önce COVID-19 bulaşıcı hastalığının komşular arasında yayıldığı sonucuna ulaşılmıştır. İki değişkenli Moran I istatistiği ile mekansal yayılmanın gecikmeli etkisi araştırılmıştır. Iki değişkenli Moran I istatistiğinin sonucuna göre ise ilk 14 günde komşu bölgelerde ortaya çıkan toplam vaka sayısının ikinci 14 gündeki toplam vaka sayısının nedenlerinden biri olduğu söylenebilir. Bu bulgular neticesinde iller veya bölgeler arası geçişlerin daha erken durdurulması ile COVID-19 gibi bulaşıcı hastalıkların çok hızlı yayılmasının engellenebileceği söylenebilir.

Global kestirim, bütün bir yatak için rezerv ve ortalama tenorun hesaplandığı çalışmaları kapsar. Bu aşamada veri sayısı ve kalitesi genellikle yetersiz olduğundan kestirimlerin güvenilirliğini değerlendirmek gerekir. Bu amaçla güven aralıkları esas alınmış ve global kestirimde güven aralıklarının oluşturulmasına ilişkin yeni bir yaklaşım önerilmiştir. Yaklaşım, temel olarak bootstrap yöntemine dayanmakta, bunun yanında uzaklığa bağlı ilişkiyi dikkate almaktadır. Uzaklığa bağlı ilişki, bootstrap içine veri dönüşümü ile dahil edilmektedir. Yaklaşım, Beypazarı trona yatağı U4 damarına uygulanmış ve bu damarın ortalama kalınlığının % 95 olasılıkla 1.15 m ve 4.86 m sınırları arasında yer aldığı belirlenmiştir.

Global kestirim, bütün bir yatak için rezerv ve ortalama tenorun hesaplandığı çalışmaları kapsar. Bu aşamada veri sayısı ve kalitesi genellikle yetersiz olduğundan kestirimlerin güvenilirliğini değerlendirmek gerekir. Bu amaçla güven aralıkları esas alınmış ve global kestirimde güven aralıklarının oluşturulmasına ilişkin yeni bir yaklaşım önerilmiştir. Yaklaşım, temel olarak bootstrap yöntemine dayanmakta, bunun yanında uzaklığa bağlı ilişkiyi dikkate almaktadır. Uzaklığa bağlı ilişki, bootstrap içine veri dönüşümü ile dahil edilmektedir. Yaklaşım, Beypazarı trona yatağı U4 damarına uygulanmış ve bu damarın ortalama kalınlığının % 95 olasılıkla 1.15 m ve 4.86 m sınırları arasında yer aldığı belirlenmiştir.

The present article considers Bayesian unit root test for autoregressive model involving structural break in variance. The posterior odds ratio for testing of unit root hypothesis against the alternative of break in variance has been derived under appropriate prior assumptions for the parameters. The theoretical results are applied to export data of selected ASEAN countries.

In many auctions the valuation structure involves both private and common value elements. Existing experimental evidence (e.g. Goeree and Offerman in Am. Econ. Rev. 92(3):625-643, 2002) demonstrates that first-price auctions with this valuation structure tend to be inefficient, and inexperienced subjects tend to bid above the break-even bidding threshold. In this paper, we compare first-price auctions with an alternative auction mechanism: the least-revenue auction. This auction mechanism shifts the risk regarding the common value of the good to the auctioneer. Such a shift is desirable when ex post negative payoffs for the winning bidder results in unfulfilled contracts, as is often the case in infrastructure concessions contracts. We directly compare these two auction formats within two valuation structures: (1) pure common value and (2) common value with a private cost. We find that, relative to first-price auctions, bidding above the break-even bidding threshold is significantly less prevalent in least-revenue auctions regardless of valuation structure. As a result, revenue in first-price auctions is higher than in least-revenue auctions, contrary to theory. Further, when there are private and common value components, least-revenue auctions are significantly more efficient than first-price auctions.