Spatial complexity and interactions in the FDI attractiveness of regions

In this study we argue that the capacity of regions to attract FDI is affected by the own‐country effect, which can take two different forms: the first relates to the relative performance of the country of which the region is part (the between‐country effect); the second concerns the relative performance of regions within their own countries (the within‐country effect). By using spatial econometrics techniques we demonstrate that the own country effect exists. However, while the within effect is always positive, the between one may be either positive or negative. This means that successful regions in unsuccessful countries generally enjoy an extra‐FDI premium, while regions in successful countries do not necessarily do so.     

Improved GMM estimation of random effects panel data models with spatially correlated error components

We modify a previously suggested GMM estimator in a spatial panel regression model, which has recently received considerable interest in empirical applications, by taking into account the difference between disturbances and regression residuals. Consistency and asymptotic normality of the estimator are derived. Analytic results, simulation evidence and an empirical application to Indonesian rice data illustrate the improvement in finite samples.     

Growth and disparities in Europe: Insights from a spatial growth model*

This paper provides a spatial neoclassical growth model for a system of N regional economies. Regional output growth is determined by interregional fixed capital relocations which depend on initial factor endowments as well as a region's relative location in space. The dynamics of the model are captured by a Taylor approximation, which provides a testable spatial econometric model specification that is applied for European regions on the NUTS 2 level. Both theoretical and empirical results show how relatively high human capital endowments are beneficial to growth if found within one region, but disadvantageous if found in neighbouring regions. Este artículo proporciona un modelo de crecimiento neo‐clásico espacial para un sistema de N economías regionales. El crecimiento del producto regional viene determinado por deslocalizaciones interregionales de capital fijo que dependen de la dotación de factores inicial, así como de la relativa localización espacial de una región. Las dinámicas del modelo son capturadas mediante una aproximación de Taylor, que proporciona una especificación comprobable de modelo econométrico espacial que se aplica a regiones europeas a nivel NUTS 2. Tanto los resultados teoréticos como los empíricos muestran como las dotaciones relativamente elevadas de capital humano son ventajosas para el crecimiento cuando se concentran en una región, pero una desventaja si se encuentran en regiones vecinas.      

居民生活用气量指标模型研究

论述了适用于居民生活用气量指标的数理统计学模型和计量经济学模型的理论基础、样本构成、建模过程以及各自的优点及存在的问题,提出应将数理统计学模型与计量经济学模型相结合,进行居民生活用气量指标的现状值评估、弹性分析、未来发展趋势预测。     

Spatial dependence in the technical efficiency of local banks

Cooperative banks primarily compete with one another because they target niche markets that large banks typically ignore. The current study shows that in this competitive environment, the connection between financial intermediaries affects the operational efficiency of small banks. The findings indicate that the capitalization, diversification strategies, funding costs, liquidity, credit quality, and risk of bank neighbors have spillover effects on technical efficiency. Thus, bank networks trigger a cascading effect that demands the attention of bank stakeholders.     

Spatial interactions in property tax policies among Italian municipalities

This paper aims to estimate, through the use of a spatial model, the determinants of fiscal policies on property tax adopted by Italian municipalities in 2014, to assess the existence of strategic interactions influencing their revenue decisions and, finally, to investigate the possible sources of such tax mimicking. The analysis evaluates the impact of political and socio-economic variables on the local policy decisions and confirms that the choices on property tax are influenced by the neighbouring municipalities’ behaviour. With regard to the tax mimicking sources, results highlight that the imitative behaviour among municipalities on their tax policy is determined mainly from spillover effects, with a decreasing effect in relation to municipal size.     

计量经济学计算机辅助教学系统(ECAI)

介绍“计量经济学”计算机辅助教学的必要性,系统的设计目标、结构与功能,系统应用效果。     

Functional Generalized Autoregressive Conditional Heteroskedasticity

Heteroskedasticity is a common feature of financial time series and is commonly addressed in the model building process through the use of autoregressive conditional heteroskedastic and generalized autoregressive conditional heteroskedastic (GARCH) processes. More recently, multivariate variants of these processes have been the focus of research with attention given to methods seeking an efficient and economic estimation of a large number of model parameters. Because of the need for estimation of many parameters, however, these models may not be suitable for modelling now prevalent high‐frequency volatility data. One potentially useful way to bypass these issues is to take a functional approach. In this article, theory is developed for a new functional version of the GARCH process, termed fGARCH. The main results are concerned with the structure of the fGARCH(1,1) process, providing criteria for the existence of strictly stationary solutions both in the space of square‐integrable and continuous functions. An estimation procedure is introduced, and its consistency and asymptotic normality are verified. A small empirical study highlights potential applications to intraday volatility estimation.     

我国教育个人收益率研究的回顾与展望

教育收益率一直是教育经济学家们关注的热点问题 ,我国学者对此问题做了大量的理论和实证研究 ,涌现出大批有关教育个人收益率的文献 ,本文对我国常用的明瑟收益率和内部收益率的研究进行回顾 ,进一步展望教育个人收益率研究今后的发展前景