Search results for "Econometric model"
showing 10 items of 45 documents
Spatial econometrics and the hedonic pricing model: what about the temporal dimension
2014
Recent ready access to free software and toolbox applications is directly impacting spatial econometric modelling when working with geolocated data. Spatial econometric models are valuable tools for taking into account the possible latent structure of the price determination process and ensuring that the coefficients estimated are unbiased and efficient. However, mechanical applications can potentially bias estimated coefficients if spatial data is pooled over time because the applications consider the spatial dimension alone. Spatial models neglect the fact that data (e.g. real estate) may consist of a collection of spatial data pooled over time, and that time relations generate a unidirec…
Seasonality in Tourism: Do Senior Programs Mitigate It?
2021
Seasonality is a widely recognised and accredited phenomenon known to cause an imbalance in tourism activity throughout the year, prompting tourist destinations, both public and private, to consider how best to plan the use of their resources. One way of mitigating the economic imbalances that seasonality can cause is to find strategies for seasonal adjustment, such as travel programmes aimed at the elderly. This paper analyses the seasonality of tourism activity in some EU countries, and in particular in Spain. Different indicators are used to compare the results and carry out a sensitivity analysis. The study then focuses on tourism programmes for the elderly in Spain to see whether this …
Geographical Distribution of Unemployment: An Analysis of Provincial Differences in Italy
2007
Unemployment rates appear to vary widely at a subregional (e.g., local or provincial) level. Using spatial econometric models for spatial autocorrelation, this paper focuses attention on the spatial structure of regional unemployment disparities of Italian provinces. On the basis of findings from the economic literature and of the available socio-economic data, various model specifications including different explanatory variables are tested to investigate the geographical distribution of unemployment in the 103 provinces of Italy for the years 1998 and 2003. The results suggest that there is a clear explanation of unemployment differentials in terms of spatial equilibrium and disequilibriu…
ASSESSMENT OF CORRUPTION EFFECT ON FOREIGN INVESTMENT FLOWS
2011
The purpose of the present paper is to investigate the impact of corruption on foreign direct investment (FDI) flows. Using data from the International Monetary Fund, Transparency International and United Nations conference about commerce and development data bases a cross-section econometric model was estimated to evaluate in which way and how strong corruption influence FDI inflows. Econometric modelling covers the period from year 2000 to 2007 and the data about 82 world countries that constitute more than 500 records. The main conclusion of the paper is that corruption has a negative and significant impact on the foreign direct investment inflows. Thus, changes in the level of corruptio…
Is there a Market Value for Energy Performance in a Local Private Housing Market ? An efficiency analysis approach
2018
This paper aims to find evidence of a “green value” in a local housing market using notarial data on a small urban area in France. We use frontier functions, an original approach that departs from customary hedonistic regressions, to model housing market prices as a production set bordered by an efficiency frontier estimated by Data Envelopment Analysis (DEA). The paper tests if difference in prices (i.e. the distance from the frontier) can be explained by energy performance measured as a normalized categorical ascending kWh/m²/year grade (or Energy Performance Certificate -EPC). We show that there is significative evidence for energy performance's market value. The “Green Property Value” i…
Nature et impacts des effets spatiaux sur les valeurs immobilières : le cas de l'espace urbanisé francilien
2013
International audience
NEIGHBORHOOD EFFECTS IN SPATIAL HOUSING VALUE MODELS. THE CASE OF THE METROPOLITAN AREA OF PARIS (1999)
2009
In hedonic housing models, the spatial dimension of housing values are traditionally processed by the impact of neighborhood variables and accessibility variables. In this paper we show that spatial effects might remain once neighborhood effects and accessibility have been controlled for. We notably stress on three sides of neighborhood effects: social capital, social status and social externalities and consider the accessibility to the primary economic center as describing the urban spatial trend. Using spatial econometrics specifications of the hedonic equation, we estimate whether spatial effects impact the housing values. Our empirical case concerns the Metropolitan Area (MA) of Paris i…
FORECASTING THE LABOUR FORCE DEMAND AND SUPPLY IN LATVIA / LATVIJOS DARBO JĖGOS PAKLAUSOS IR PASIŪLOS MODELIAVIMAS
2008
The purpose of this paper is to analyse the problems of Latvian labour market and its possible development. An econometric model for labour force demand and supply forecasting is elaborated and it comprises 120 professions, 37 aggregated groups of professions and covers time period 2007–2030. The results of the quantitative and qualitative Employers’ Survey are analysed and taken into account. The novelty of this research study lies in the complex approach to the labour force demand and supply analyses and to the forecasts to the Latvian economy in general and for its 15 separate sectors. Santrauka Šio straipsnio tikslas – išanalizuoti Latvijos darbo rinkos problemas ir galimus pokyčius. Su…
Spatial Autocorrelation in Econometric Land Use Models: An Overview
2021
International audience; This chapter provides an overview of the literature on econometric land use models including spatial autocorrelation. These models are useful to analyze the determinants of land use changes and to study their implications for the environment (carbon stocks, water quality, biodiversity, ecosystem services). Recent methodological advances in spatial econometrics have improved the quality of econometric models allowing them to identify more precisely the determinants of land use changes and make more accurate land use predictions. We review the current state of the literature on studies which account explicitly for spatial autocorrelation in econometric land use models …
The macroeconomic effects of public investment: Evidence from advanced economies
2015
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting ou…