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on Economic Geography |
| By: | Daniel Albalate (Faculty of Economics, University of Barcelona); Germà Bel (Faculty of Economics, University of Barcelona) |
| Abstract: | The importance of effective and efficient mobility in large cities is becoming essential for planners and citizens due to its impact in terms of social, economic and geographic development. The aim of this research is to determine factors explaining urban transport systems by estimating aggregate supply and demand equations for 45 large European cities. Supply and Demand equations are separately and jointly determined using OLS and SUR estimation models. On one hand, our findings suggest the importance of economic variables on the supply of public transport. On the other, we highlight the role of those factors influencing the generalized cost of transport as main drivers of demand for public transit. Additionally, regional variables are introduced to capture institutional heterogeneity in this service, and we find that regional patterns are powerful explanatory determinants of urban transportation systems in Europe. |
| Keywords: | Urban transportation, Local government policy, Mobility. |
| Date: | 2009–04 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:200905&r=geo |
| By: | Todd H. Kuethe (Department of Agricultural Economics, Purdue University); Valerien Pede (Department of Agricultural Economics, Purdue University) |
| Abstract: | We present a study of the effects of macroeconomic shocks on housing prices in the Western United States using quarterly state level data from 1988:1 – 2007:4. The study contributes to the existing literature by explicitly incorporating locational spillovers through a spatial econometric adaptation of vector autoregression (SpVAR). The results suggest these spillovers may Granger cause housing price movements in a large number of cases. SpVAR provides additional insights through impulse response functions that demonstrate the effects of macroeconomic events in different neighboring locations. In addition, we demonstrate that including spatial information leads to significantly lower mean square forecast errors. |
| Keywords: | Housing prices, VAR, spatial econometrics |
| JEL: | C31 C32 R21 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:pae:wpaper:09-04&r=geo |
| By: | Raul Ramos (Faculty of Economics, University of Barcelona); Jordi Suriñach (Faculty of Economics, University of Barcelona); Manuel Artís (Faculty of Economics, University of Barcelona) |
| Abstract: | The paper analyses the link between human capital and regional economic growth in the European Union. Using different indicators of human capital calculated from census microdata, we conclude that the recent economic performance of European regions is associated to an increase in overeducation. In fact, measures of educational mismatch seem to have a stronger connection to regional economic performance than other traditional measures of human capital stocks. |
| Keywords: | Regional economic growth, human capital, educational mismatch, overeducation |
| Date: | 2009–03 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:200904&r=geo |
| By: | Vincenzo Scoppa (Dipartimento di Economia e Statistica, Università della Calabria) |
| Abstract: | We investigate whether Italian regions have converged in terms of output per worker because of physical capital accumulation, human capital accumulation or thanks to technological catch-up. In order to identify channels of convergence we adopt the methodology recently proposed by Wong (2007) and Feyrer (2007) which combine growth accounting with convergence regressions. Merging two datasets of regional economic accounts (ISTAT and CRENoS) to obtain longer time series, we show that convergence has been realized mainly thanks to technological catch-up and, to some extent, through human capital accumulation. On the other hand, physical capital has been a factor of divergence. These results are robust to model specifications, sets of data and alternative assumptions on parameters value |
| Keywords: | Absolute and Conditional Convergence, Channels of Convergence Technological Catch-up, Capital Accumulation, Italian regions |
| JEL: | O47 E23 E13 |
| Date: | 2009–01 |
| URL: | http://d.repec.org/n?u=RePEc:clb:wpaper:200904&r=geo |
| By: | Croce, Giuseppe; Ghignoni, Emanuela |
| Abstract: | Following suggestions from theoretical and empirical literature on agglomeration and on social returns to education which emphasise the contribution of local knowledge spillovers to productivity and wage growth, this paper aims at uncovering the relationship between local human capital and training. Furthermore, we check the effects of other variables measuring distinctive features of local labour markets, like the degree of specialization, average firms’ size, intensity of job turnover, economic density, employment in R&D activities and some other control variables. Our key-results are consistent with the prediction that training should be more frequent in areas where the aggregate educational level is higher. Moreover, interaction between local and individual human capital is positive and significant for those with an upper secondary educational attainment. These results have proved to be robust since they are not altered when different definitions of local human capital are adopted or different sub-samples are considered (with the exception of female workers). We coped also with the problem of omitted variables and spatial sorting, that could bias econometric results, by means of a two-step strategy based on instrumental variables. |
| Keywords: | Keywords: training; knowledge spillovers; local labour markets |
| JEL: | O18 J24 R23 |
| Date: | 2009–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:14475&r=geo |
| By: | Möller, Joachim; Tubadji, Annie |
| Abstract: | The paper aims at testing Florida’s concept of the Creative Class using panel data for 323 West German regions for the time period 1975 – 2004. Applying a dynamic system approach based on GMM, we find that the local concentration of the Creative Class has predictive power for the economic development of a region and tends to outperform traditional indicators of human capital. However, our results do not support Florida’s assertion that the creative workers flock where the Bohemians are. According to our findings, the Creative Class is attracted by favorable economic conditions as indicated by employment growth or an increasing wage bill. |
| Keywords: | Culture, Regional Development, Bohemians, Creative Class, Dynamic Panel Methods |
| JEL: | C23 O1 O3 R1 Z10 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:7525&r=geo |