Three Essays On The Spatial Autoregressive Model In Spatial Econometric
DOWNLOAD
Download Three Essays On The Spatial Autoregressive Model In Spatial Econometric PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Three Essays On The Spatial Autoregressive Model In Spatial Econometric book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Three Essays On The Spatial Autoregressive Model In Spatial Econometric
DOWNLOAD
Author : Qu, Xi
language : en
Publisher:
Release Date : 2013
Three Essays On The Spatial Autoregressive Model In Spatial Econometric written by Qu, Xi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Chapter Two focuses on three classical tests, namely, Wald, LM, and LR, of spatial interactions in the simultaneous SAR Tobit model. We derive the asymptotic distributions of those three tests under both the null and the local alternative hypotheses, establish their asymptotic equivalence and local efficiency, and study finite sample properties using the Monte Carlo simulation. The tests are applied to an empirical example involving the school district income tax in Iowa in 2009. Among 361 school districts, 18.3 percent had rates of zero, so it fits the Tobit setting. Testing results indicate the existence of tax competition among neighboring school districts.
Three Essays In Spatial Econometrics
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2012
Three Essays In Spatial Econometrics written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Three Essays On Spatial Econometric Models With Missing Data
DOWNLOAD
Author : Wei Wang
language : en
Publisher:
Release Date : 2010
Three Essays On Spatial Econometric Models With Missing Data written by Wei Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Abstract: This dissertation is composed of three essays on spatial econometric models with missing data. Spatial models that have a long history in regional science and geography have received substantial attention in various areas of economics recently. Applications of spatial econometric models prevail in urban, developmental and labor economics among others. In practice, an issue that researchers often face is the missing data problem. Although many solutions such as list-wise deletion and EM algorithm can be found in literature, most of them are either not suited for spatial models or hard to apply due to technical difficulties. My research focuses on the estimation of the spatial econometric models in the presence of missing data problems. The first chapter develops a GMM method based on linear moments for the estimation of mixed regressive, spatial autoregressive (MRSAR) models with missing observations in the dependent variables. The estimation method uses the expectation of the missing data, as a function of the observed independent variables and the parameters to be estimated, to replace the missing data themselves in the estimation. The proposed GMM estimators are shown to be consistent and asymptotically normal. Feasible optimal weighting matrix for the GMM estimation is given. We extend our estimation method to MRSAR models with heteroskedastic disturbances, high order MRSAR models and unbalanced spatial panel data models with random effects as well. From these extensions, we see that the proposed GMM method has more compatibility, compared with the conventional EM algorithm. The second chapter considers a group interaction model first proposed by Lee (2006); this model is a special case of the spatial autoregressive (SAR) models. It is a first attempt to estimate the model in a more general random sample setting, i.e. a framework in which only a random sample rather than the whole population in a group is available. We incorporate group heteroskedasticity along with the endogenous, exogenous and group fixed effects in the model. We prove that, under some basic assumptions and certain identification conditions, the quasi maximum likelihood (QML) estimators are consistent and asymptotically normal when the functional form of the group heteroskedasticity is known. Two types of misspecifications are considered, and, under each, the estimators are inconsistent. We also propose IV estimation in the case that the group heteroskedasticity is unknown. A LM test of group heteroskedasticity is given at the end. The third chapter considers the same group interaction model as that in the second chapter, but focuses on the large group interaction case and uses a random effects setting for the group specific characters. A GMM estimation framework using moment conditions from both within and between equations is applied to the model. We prove that under some basic assumptions and certain identification conditions, the GMM estimators are consistent and asymptotically normal, and the convergence rates of the estimators are higher than those of the estimators derived from the within equations only. Feasible optimal GMM estimators are proposed.
Three Essays On Spatial Econometrics
DOWNLOAD
Author : Xiaoyi Han
language : en
Publisher:
Release Date : 2014
Three Essays On Spatial Econometrics written by Xiaoyi Han and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
My job market paper, "Bayesian Estimation of a Spatial Autoregressive Model with an Unobserved Endogenous Spatial Weight Matrix and Unobserved Factors", examines the specification and estimation of the SAR model with new features. Motivated by the spillover effects of state medicaid spending on welfare programs, we combine all these new features together for the first time in the SAR model. Specifically, we focus on two ways of defining neighborliness (a source of unobserved spatial weight matrix W): one based on geographical distance and the other on "economic" distance. In this particular application, endogeneity of W comes from the correlation of economic distance and the disturbances in the SAR equation. Unobserved factors are introduced to control for common shocks to all states. For the estimation of the model, the Bayesian MCMC method is employed, which is also supported by simulation results. We find that a dollar increase in a state's neighbors' Medicaid related spending will increase its own Medicaid related spending by about 52 cents. Both geographical and economic distances are shown to have significant effects on the interaction strength of state Medicaid related spending. Our results suggest that in the context of Medicaid spending, welfare motivated move and yardstick competition are both sources of strategic interactions among state governments.
Three Essays On Spatial Econometrics And Empirical Industrial Organization
DOWNLOAD
Author : Sang-Yeob Lee
language : en
Publisher:
Release Date : 2008
Three Essays On Spatial Econometrics And Empirical Industrial Organization written by Sang-Yeob Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Econometrics categories.
Abstract: The first essay explores the consequences of misspecified spatial interdependence structure in SAR models with a row-normalized weight matrix. I provide the analytical formulae for the asymptotic biases of the OLS estimator when a spatial weight matrix is over-specified, under-specified, or omitted in a simple linear regression model. I then design Monte Carlo experiments to study how a misspecified spatial weight matrix in the SAR model might impact the finite sample properties of the 2SLSE and MLE. The major finding is that an "over-specification" of the weight matrix causes less bias in 2SLSE and MLE as well as lower RMSE than an "under-specification." The results also strongly suggest that goodness of fit measures such as adjusted R-square and log-likelihood can serve as selection criteria for the choice of a spatial weight matrix. In the second essay, I consider the effectiveness of Wald, distance difference, minimum Chi-square, and gradient tests within GMM framework in selecting different specifications of spatial weights in SAR models. The two major results I obtain are (1) that for each of the five tests, GMM framework significantly improves the empirical power of the tests over 2SLS framework, and (2) that when performed in GMM framework, all five tests have suitable empirical size and power with similar performance outcomes. Finally, the third essay investigates the nature of competition in the retail gasoline market using a two year panel data of weekly prices for gas stations in San Diego County. I use IV methods to estimate several spatial autoregressive (SAR) models of stations' price reaction functions after specifying spatial weights based on distance between stations. By using the SAR model, I am able to identify that the brand of competing stations and their relative geographic proximity to the original station are important factors in explaining price variation across gasoline stations, as opposed to just the number of competing stations.
Three Essays On Spatial Econometrics With An Emphasis On Testing
DOWNLOAD
Author : Yu-Hsien Kao
language : en
Publisher:
Release Date : 2016
Three Essays On Spatial Econometrics With An Emphasis On Testing written by Yu-Hsien Kao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Econometric Advances In Spatial Modelling And Methodology
DOWNLOAD
Author : Daniel A. Griffith
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-04-17
Econometric Advances In Spatial Modelling And Methodology written by Daniel A. Griffith and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-17 with Business & Economics categories.
The purpose of models is not to fit the data but to sharpen the questions. S. Karlin, 11th R. A. Fisher Memorial Lecture, Royal Society, 20 April 1983 We are proud to offer this volume in honour of the remarkable career of the Father of Spatial Econometrics, Professor Jean Paelinck, presently of the Tinbergen Institute, Rotterdam. Not one to model solely for the sake of modelling, the above quotation nicely captures Professor Paelinck's unceasing quest for the best question for which an answer is needed. His FLEUR model has sharpened many spatial economics and spatial econometrics questions! Jean Paelinck, arguably, is the founder of modem spatial econometrics, penning the seminal introductory monograph on this topic, Spatial Econometrics, with Klaassen in 1979. In the General Address to the Dutch Statistical Association, on May 2, 1974, in Tilburg, "he coined the term [spatial econometrics] to designate a growing body of the regional science literature that dealt primarily with estimation and testing problems encountered in the implementation of multiregional econometric models" (Anselin, 1988, p. 7); he already had introduced this idea in his introductory report to the 1966 Annual Meeting of the Association de Science Regionale de Langue Fran~aise.
Three Essays On The Geography Of Finance
DOWNLOAD
Author : Chongyu Wang
language : en
Publisher:
Release Date : 2017
Three Essays On The Geography Of Finance written by Chongyu Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Electronic dissertations categories.
This dissertation consists of three essays on the geography of finance. In the first essay, we study the relation between geographic dispersion and firm value. In the context of asset-sells, information asymmetry hypothesis and managerial alignment hypothesis offer opposite predictions on the market reaction to asset-sell announcements. Real estate investment trusts (REIT) firms provide an ideal setting to investigate these two competing but not mutually exclusive effects. We construct a unique panel data of more than 800,000 property-year observations and apply a two-stage sequential decision-making method to mitigate selection bias at both firm level and property level. We find that REIT firms tend to dispose of distant properties and there is a negative relation between distance and cumulative abnormal returns (CARs, also known as cumulative prediction errors), consistent with managerial alignment hypothesis. Further, informational and social factors explain corporate decisions on asset sell-offs and the effect of social interactions only exists in less-populated areas. Together, these findings suggest a dominant role of managerial alignment effect. In the second essay, we analyze cross-state/MSA spillover effects of local capital scarcity. We propose a theoretical framework to capture the competition for scarce capital across state/MSA borders and calibrate its implications with spatial autoregressive (SAR) and spatial Durbin’s (SDM) models. Our application of spatial econometrics tools mitigates potential bias in estimation that arises due to the violation of Stable Unit Treatment Value Assumption (SUTVA), which leads to indirect treatment effect (competition effect) on geographic neighbors. Overall, our findings suggest that negative spatial spillovers may arise due to competition for scarce capital, and the competition effect is amplified during local and national economic downturns. In the third essay, we introduce geographic variables and implement a novel econometric method. We test the hypothesis that geographic (state-level) macroeconomic factors and funding liquidity affect market liquidity. We find cross-state spillover effects for market liquidity. These spatial spillover effects have two implications. First, higher REIT market liquidity in neighboring states leads to decreased REIT market liquidity in a particular state. Second, there is also a spatial multiplier effect (less than 1) that diminishes the magnitudes of the total effect of state macroeconomic effects on funding liquidity. These results indicate that neighboring states compete for scarce capital, leading to negative effects on the growth trajectories across state borders. Such negative effects are more extreme during market downturns.
Spatial Econometrics
DOWNLOAD
Author : J. Paul Elhorst
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-09-30
Spatial Econometrics written by J. Paul Elhorst and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-30 with Business & Economics categories.
This book provides an overview of three generations of spatial econometric models: models based on cross-sectional data, static models based on spatial panels and dynamic spatial panel data models. The book not only presents different model specifications and their corresponding estimators, but also critically discusses the purposes for which these models can be used and how their results should be interpreted.
Essays On Applied Spatial Econometrics And Housing Economics
DOWNLOAD
Author : Hua Kiefer
language : en
Publisher:
Release Date : 2007
Essays On Applied Spatial Econometrics And Housing Economics written by Hua Kiefer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Housing purchase represents one of a household's most significant economic decisions. The ancient joke in real estate is that the three most important criteria for selecting a house are location, location, and location. This explains the great emphasis of a household on residential location choice when he/she is buying a home. Driven by households' demand on location, it should also play an important role in determining house prices. As a key determinant in household consumption behavior, locational context or neighborhood effects is worth investigation. This dissertation examines locational/neighborhood effects in the housing market using spatial econometric methods.