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on Urban and Real Estate Economics |
| By: | J. Herstad , Sverre (University of Agder); Ebersberger , Bernd (MCI Management Center Innsbruck,Austria) |
| Abstract: | Knowledge intensive business services firms can play a key role in modern economies by linking localized collaboration networks to global knowledge flows, and by actively serving in support of knowledge diffusion across institutional and sectoral divides. The extent to which they do is dependent on the markets, partners and human resources available locally. This paper uses the unique establishment-level innovation data available in Norway to investigate whether location in urban labour market regions influences the geographical scope of collaborative linkages maintained within and outside the realm of clients. It proceeds to consider whether the diversity of partner types used locally, domestically and abroad differ between locations. |
| Keywords: | knowledge intensive business services; urban economies; collaboration; internationalization |
| JEL: | L80 O31 R11 |
| Date: | 2013–06–17 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2013_021&r=ure |
| By: | Alexander Fink; Thomas Stratmann |
| Abstract: | Did the nuclear catastrophe at Fukushima in March 2011 cause individuals to reappraise the risks they attach to nuclear power plants? We investigate the change in housing prices in the U.S. after the Fukushima event to test the hypothesis that house prices in the proximity of power plants fell due to an updated nuclear risk perception. Using a difference-in-differences approach we do not find evidence in support of the hypothesis that individuals reappraise the risks associated with nuclear power plants. House prices close to nuclear reactor sites did not fall relative to house prices at other locations in the U.S. |
| Keywords: | Fukushima, nuclear accident, hedonic prices, housing, updating |
| JEL: | D80 Q51 R31 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:icr:wpicer:04-2013&r=ure |
| By: | Hansen, Teis (CIRCLE, Lund University) |
| Abstract: | Traditionally, economic geographers stress geographical proximity’s positive impact on collaboration processes. Recently, effects of cognitive, organisational, social and institutional proximity dimensions have been emphasised. This paper examines the relations between geography and these non-spatial dimensions by distinguishing two mechanisms: the substitution mechanism, where non-spatial forms of proximity substitute for geographical proximity, and the overlap mechanism, where geographical proximity facilitates non-spatial proximity. The two mechanisms’ importance is analysed in collaborative innovation projects in the Danish cleantech industry. Regression models are complemented by a qualitative analysis of the relationship between the geographical and institutional dimensions, which is the only relation where the substitution mechanism is of little importance. |
| Keywords: | Proximity; cleantech; collaboration; knowledge linkages; innovation |
| JEL: | L69 O31 R11 |
| Date: | 2013–05–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2013_018&r=ure |
| By: | Jan K. Brueckner; Paul S. Calem; Leonard I. Nakamura |
| Abstract: | Rapid house-price depreciation and rising unemployment were the main drivers of the huge increase in mortgage default during the downturn years of 2007 to 2010. However, mortgage default was also partly driven by an increased reliance on alternative mortgage products such as pay-option ARMs and interest-only mortgages, which allow the borrower to defer principal amortization. The goal of this paper is to better understand the forces that spurred use of alternative mortgages during the housing boom and the resulting impact on default patterns, relying on a unifying conceptual framework to guide the empirical work.> The conceptual framework allows borrowers to choose the extent of mortgage “backloading,” the postponement of loan repayment through various mechanisms that constitutes a main feature of alternative mortgages. The model shows that, when future house-price expectations become more favorable, reducing default concerns, mortgage choices shift toward alternative contracts. This prediction is confirmed by empirical evidence showing that an increase in past house-price appreciation, which captures more favorable expectations for the future, raises the market share of alternative mortgages. In addition, using a proportional-hazard default model, the paper tests the fundamental presumption that backloaded mortgages are more likely to default, finding support for this view. |
| Keywords: | Mortgage loans ; Mortgages |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedpwp:13-36&r=ure |
| By: | Randall Q. Akee (UCLA, Luskin School of Public Affairs); Timothy J. Halliday (UHERO, University of Hawaii at Manoa); Sally Kwak (U.S. Congress, Joint Committee on Taxation) |
| Abstract: | Due to the large social costs of juvenile crime, policymakers have long been concerned about its causes. In the 2009-10 school year, the State of Hawaii responded to fiscal strains by furloughing all school teachers employed by the Department of Education and canceling class for seventeen instructional days. We examine the effects of this unusually short school year to draw conclusions about the relationship between time in school and juvenile arrests on Oahu. We calculate marginal effects from a negative binomial model and find that time off from school is associated with significantly fewer juvenile assault and drug-related arrests, although there are no changes in other types of crimes, such as burglaries. During the shortened school year, we calculate that there were twenty fewer assault arrests and fourteen fewer drug-related arrests of juveniles on Oahu. The declines in arrests for assaults were the most pronounced in poorer regions of the island whereas the declines in drug-related arrests were higher in relatively more prosperous regions. |
| Keywords: | Education, Crime, Inequality |
| JEL: | J08 I24 |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:hae:wpaper:2013-7r1&r=ure |
| By: | Elliot Anenberg; Patrick Bayer |
| Abstract: | This paper presents new empirical evidence that internal movement--selling one home and buying another--by existing homeowners within a metropolitan housing market is especially volatile and the main driver of fluctuations in transaction volume over the housing market cycle. We develop a dynamic search equilibrium model that shows that the strong pro-cyclicality of internal movement is driven by the cost of simultaneously holding two homes, which varies endogenously over the cycle. We estimate the model using data on prices, volume, time-on-market, and internal moves drawn from Los Angeles from 1988-2008 and use the fitted model to show that frictions related to the joint buyer-seller problem: (i) substantially amplify booms and busts in the housing market, (ii) create counter-cyclical build-ups of mismatch of existing owners with their homes, and (iii) generate externalities that induce significant welfare loss and excess price volatility. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgfe:2013-60&r=ure |
| By: | Susilo, Yusak O. (KTH); Hanks, Nathan (Transport Planning Associates (UK)); Ullah, Mahmud (University of the West of England) |
| Abstract: | Using data from 2,096 convenience store customers within and outside the Greater London Metropolitan Area, this paper explores how individuals access their convenience stores and how significant the influence of their socio-demographics, shopping types and trip chaining is to their mode choice in visiting the stores. Trip chaining is found to be very crucial in influencing customers’ mode choice and their visit frequency to the stores. The models also show that frequent shoppers (people who visit the stores at least a few times a week) are the ones most likely to visit the stores on foot. Interestingly, the estimation results also show that the location’s density, shopping types and the day of the week are not significant in influencing the travel modes. Customers who live at the most deprived areas are less likely to use a private car in visiting the stores. |
| Keywords: | The use of local stores; Shift in travel mode; Shopping trip pattern; London |
| JEL: | O18 R41 |
| Date: | 2013–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ctswps:2013_020&r=ure |
| By: | Grillitsch, Markus (CIRCLE, Lund University); Trippl , Michaela (CIRCLE, Lund University) |
| Abstract: | The aim of this article is to examine conceptually and empirically how innovative firms combine knowledge (1) provided by different sources, (2) accessed at different spatial scales, and (3) acquired through different channels. We add to the conceptual debate by contrasting and synthesizing the perspectives offered on these issues by four key concepts, namely the local buzz and global pipelines argument, the knowledge base approach, the notions of STI and DUI modes of innovation as well as the regional innovation systems concept. The empirical part of the article contains an analysis of knowledge sourcing activities and knowledge combinations employed by 181 firms belonging to the Austrian automotive supplier industry. Our findings reveal that it is, indeed, combinations of knowledge sourced from different partners located at different spatial scales and acquired through different channels that are relevant. However, it is particular knowledge combinations that dominate while others are negligible. Austrian automotive supplier firms combine knowledge provided by customers with knowledge inputs from a variety of other sources. Most of the combinations involve the international level combined with the regional and/or national level. Finally, firms combine spillovers with a variety of other channels to acquire innovation-relevant knowledge. |
| Keywords: | Innovation; Knowledge Bases; Regional Innovation System; Geography; Automotive |
| JEL: | D83 O30 R10 |
| Date: | 2013–09–17 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2013_023&r=ure |
| By: | Rodrigo Martins (GEMF/ Faculty of Economics University of Coimbra, Portugal); Francisco José Veiga (NIPE/ University of Minho, Portugal) |
| Abstract: | This paper analyzes the effects of voter turnout on the vote shares received by the incumbent government. A system of simultaneous equations is estimated using a panel dataset of 278 Portuguese municipalities, for the period 1979-2005, covering 10 legislative elections. The results indicate that right-wing governments have lower vote shares when turnout is higher, while left-wing ones seem to be unaffected. There is also evidence of the responsibility hypothesis, that turnout is higher in closer elections, and that regional/local economic variables have non-linear effects on turnout. |
| Keywords: | Vote Shares, Turnout, Legislative Elections, Portugal. |
| JEL: | D72 H7 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:gmf:wpaper:2013-20.&r=ure |
| By: | Liu, Ju (CIRCLE, Lund University); Chaminade, Cristina (CIRCLE, Lund University); Asheim, Bjørn (CIRCLE, Lund University) |
| Abstract: | This paper explores the geography and structure of global innovation networks (GINs) of two multinational companies belonging to industries with different knowledge bases. It contributes to existing literature on knowledge bases, by studying both intra-firm and inter-firm GINs. By means of social network analysis based on primary data, we identify two different forms of GINs, namely the globallyorganised model and the locally-organised model. The paper finds that, in addition to influencing the geographic spread of a GIN, the knowledge base also influences the way that a GIN is organised. |
| Keywords: | global innovation network; multinational companies; knowledge base; structure; geography; social network analysis |
| JEL: | F23 O32 |
| Date: | 2012–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2013_015&r=ure |
| By: | Wang , Qian (KTH); Sundberg, Marcus (KTH); Karlström , Anders (KTH) |
| Abstract: | In this paper, we introduce a discrete penalty for excessive travel times into scheduling models whose maximal expected utilities have attractive theoretical features of linearity in standard deviation or variance. The extended models maintain the properties of linearity, and its maximal expected utility depends on the shape of the travel time distribution. The value of travel time and its variability could be measured indirectly by the scheduling preferences. The results from empirical data reveal that the extended models, with such a discrete penalty, provide a highly significant better goodness of fit to the data. Furthermore, introducing the penalty for excessive travel time has a strong effect on the estimates of the other scheduling parameters, thus affecting the valuations of travel time. Our findings indicate that, apart from the mean and standard deviation (or variance), individuals value other characteristics of travel time distribution, in particular the probability of excessive travel time. |
| Keywords: | Scheduling preferences; Travel time variability; Asymmetric travel time distribution; Excessive travel time |
| JEL: | R40 |
| Date: | 2013–09–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ctswps:2013_015&r=ure |
| By: | Céline BONNEFOND; Matthieu CLEMENT; François COMBARNOUS |
| Abstract: | This paper aims to identify and characterize the Chinese urban middle class. We propose to improve the description of the middle class using an innovative approach combining an economic approach (based on income) and a sociological approach (based on education and occupation). The empirical investigations conducted as part of this research are based on the China Health and Nutrition Survey (2009). First, we define the middle income class as households with an annual per capita income between 10,000 yuan and the 95th percentile. On this basis, approximately fifty percent of urban households may be said to belong to the middle class. Second, we use information on employment and education to characterize the heterogeneity of the middle income class. Using clustering methods, we identify four groups: (i) the elderly and the inactive middle class, mainly composed of pensioners; (ii) the old middle class, composed of self-employed workers; (iii) the marginal middle class, composed of skilled and unskilled workers; and (iv) the new middle class, composed of highly educated wage earners in the public sector. We show that the different groups have distinctive features based on variables such as housing and household appliances and equipment. |
| Keywords: | social stratification, income distribution, middle class, urban China, clustering methods. |
| JEL: | O53 P25 P36 Z13 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:grt:wpegrt:2013-19&r=ure |
| By: | Musselwhite, Charles B.A. (University of the West of England); Avineri, Erel (Afeka); Susilo, Yusak O. (KTH); Bhattachary, Darren (TNS BMRB) |
| Abstract: | The aim of the reported research was to examine the perceptions of road user safety amongst different road users and examine the link between attitudes, empathy and skill in motorcycle safety behaviour. Motorcyclists were perceived by the study participants, members of the public at four different locations at the UK (including motorcyclists and non-motorcyclists), as a group be at a high risk of accidents on the road. This was due to perceived behavioural characteristics of motorcyclists – who were viewed as ‘thrill seekers’ – as well as observed behaviours on the road. This, coupled with the physical vulnerability and excessive speeds, meant that motorbike driving was considered by the study participants as the least safe form of road use. There was broad agreement that motorcycling was dangerous as a whole, but not all motorcyclists were necessarily risky riders. The issue of ‘competitive space’ emerged between car drivers and motorcyclists in particular and it was suggested that there was a lack of mutual awareness and considerations between the two groups. Generally, greatest empathy comes from drivers who are motorcyclists themselves. Engineering, education, enforcement interventions were investigated. These were aimed at two main areas: normalising safer driving behaviours for motorcyclists and increasing awareness of bikes for motorists—particularly in relation to reducing speed limits at urban junctions. Finally, the idea of risk mapping and reduced speed limits on rural roads was seen as potentially effective—particularly as certain motorcyclists highlighted that they changed their riding behaviours by increasing speed and taking greater risks on these roads. |
| Keywords: | Attitudes; Risk; Motorcycle; Qualitative; Shared space; Empathy |
| JEL: | R41 |
| Date: | 2013–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ctswps:2013_021&r=ure |
| By: | Svaleryd, Helena (Department of Economics) |
| Abstract: | The business cycle is likely to be of importance for self-employment rates. When the economy is growing, business opportunities open up and encourage the set-up of new firms. In downturns, self-employment may be a way to avoid unemployment. The strength of these pull and push factors may depend on the amount of human capital a person has. The findings in this paper show that although the local business cycle is of minor importance for total self-employment rates in Sweden, there are heterogeneous effects across groups. People with higher human capital endowments are more likely to be pulled into self-employment, while those with lower human capital endowments are to a larger extent pushed into self-employment. This pattern is particularly strong for women. |
| Keywords: | Self-employment; local business cycle; panel data |
| JEL: | J21 J24 |
| Date: | 2013–08–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:uunewp:2013_015&r=ure |
| By: | Susilo, Yusak O. (KTH); Lyons, Glenn (University of the West of England); Jain, Juliet (University of the West of England); Atkins, Steve (University of the West of England) |
| Abstract: | Using data from Great Britain’s National Passenger Survey 2010 this paper examines the travel time use of rail passengers and their indicative assessment of its utility. The paper explores the impacts of individuals’ socio demographic characteristics, types of activity undertaken and the perceived difficulties that may be faced by the travellers on their assessment of travel time use utility. The study shows that only 13% of travellers considered their travel time as wasted. However, this varies by journey purpose, travelling class (first/standard class), gender and journey length. The study shows that the positive or negative appreciation by passengers of their journey time is not only a result of various combinations of on-board activity engagements, but also the smoothness of overall journey experience. Being able to work/study on the train most significantly increases individual appreciation of time use. However, a delay on an individual’s train journey also has a major influence in reducing his/her perceived value of travel time spent. ICT devices that enable travellers to watch film/video or play games or check emails are more appreciated than those providing access to music/podcast or access to social networking sites. The paper joins others in questioning assumptions made in economic appraisal that travel time is unproductive. It concludes with a call for more substantive and targeted data collection efforts within travel behaviour research devoted to further unravelling the phenomenon of the positive utility of travel. |
| Keywords: | Travel time use; Rail passenger; Journey satisfaction; Great Britain |
| JEL: | R40 R42 |
| Date: | 2013–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ctswps:2013_018&r=ure |
| By: | Castellani, Davide (Department of Economics, Finance and Statistics, University of Perugia, Centro Studi Luca d'Agliano, Milan, Italy Halle Institute for Economic Research (IWH), Halle, Germany CIRCLE, Lund University, Sweden); Pieri, Fabio (Depto. de Economia Aplicada II (Estructura Economica), Universitat de Valencia, Spain) |
| Abstract: | The recent increase in R&D offshoring have raised fears that knowledge and competitiveness in advanced countries may be at risk of `hollowing out'. At the same time, economic research has stressed that this process is also likely to allow some reverse technology transfer and foster growth at home. This paper addresses this issue by investigating the extent to which R&D offshoring is associated with productivity dynamics of European regions. We find that offshoring regions have higher productivity growth, but this positive effect fades down with the number of investment projects carried out abroad. A large and positive correlation emerge between the extent of R&D offshoring and the home region productivity growth, supporting the idea that carrying out R&D abroad strengthen European competitiveness. |
| Keywords: | R&D Offshoring; Regional Productivity; Foreign Investments; Europe |
| JEL: | C23 F23 O47 O52 R11 |
| Date: | 2013–05–11 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2013_020&r=ure |
| By: | Susilo, Yusak O. (KTH); Avineri, Erel (Afeka) |
| Abstract: | The amount of time individuals and households spend in travelling and in out-of-door-activities can be seen as a result of complex daily interactions between household members, influenced by opportunities and constraints which vary from day to day. Extending the deterministic concept of travel time budget to a stochastic term, and applying a Stochastic Frontier Model to a dataset from the 2004 UK National Travel Survey, this study examines the hidden stochastic limit and the variations of the individual and household travel time and out-of-home activity duration– concepts associated with travel time budget. The results show that most individuals may not have reached the limit of their ability to travel and may still be able to spend further time in travel activities. The analysis of the model outcomes and distribution tests show that among a range of employment statuses, only full-time workers’ out-of-home time expenditure has reached its limit. Also observed is the effect of having children in the household: children reduce the flexibility of hidden constraints of adult household members’ out-of-home time, thus reducing their ability to be further engaged with out-of-home activities. Even when out-of-home trips are taken into account in the analysis, the model shows that the dependent children’s in-home responsibility reduces the ability of an individual to travel to and to be engaged with out-of-home activities. This study also suggests that, compared with the individual travel time spent, the individual out-of-home time expenditure may perform as a better budget indicator in drawing the constraints of individual space-time prisms. |
| Keywords: | Travel time budget; Household structure; Stochastic frontier model; UK national travel survey |
| JEL: | O18 R41 |
| Date: | 2013–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ctswps:2013_019&r=ure |
| By: | Grant Hillier (Institute for Fiscal Studies and University of Southampton); Federico Martellosio |
| Abstract: | The (quasi-) maximum likelihood estimator (MLE) for the autoregressive parameter in a spatial autoregressive model cannot in general be written explicitly in terms of the data. The only known properties of the estimator have hitherto been its first-order asymptotic properties (Lee, 2004, Econometrica), derived under specific assumptions on the evolution of the spatial weights matrix involved. In this paper we show that the exact cumulative distribution function of the estimator can, under mild assumptions, be written down explicitly. A number of immediate consequences of the main result are discussed, and several examples of theoretical and practical interest are analysed in detail. The examples are of interest in their own right, but also serve to illustrate some unexpected features of the distribution of the MLE. In particular, we show that the distribution of the MLE may not be supported on the entire parameter space, and may be nonanalytic at some points in its support. Supplementary material relating to this working paper can be viewed here |
| Keywords: | spatial autoregression, maximum likelihood estimation, group interaction, networks, complete bipartite graph |
| JEL: | C12 C21 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:ifs:cemmap:44/13&r=ure |
| By: | Lyons, Glenn (University of the West of England); Jain , Juliet (University of the West of England); Susilo , Yusak O. (KTH); Atkins, Steve |
| Abstract: | This paper provides a unique insight into aspects of stability and change regarding the travel time use of rail passengers in Great Britain between 2004 and 2010. Empirical evidence is presented on how rail passengers spend their time, how worthwhile they consider their time use to be, the extent of advance planning of their time use and how equipped for time use they are in terms of the items they have to hand when they travel. The results reveal a consistent dominance of reading for leisure, window gazing/people watching and working/studying as favoured travel time activities. Over the six year period the availability and use of mobile technologies has increased. Listening to music in particular has doubled in its incidence suggesting an increasing capacity for travellers to personalise the public space of the railway carriage. Most notably the analysis reveals a substantial increase in the proportion of travellers overall making very worthwhile use of their time. |
| Keywords: | Travel time use; Multitasking; Rail travel; Value of time; Mobile technologies |
| JEL: | R40 R42 |
| Date: | 2013–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ctswps:2013_017&r=ure |
| By: | Richard Sullivan; Zhu Wang |
| Abstract: | This paper studies the diffusion and impact of a cost-saving technological innovation—Internet banking. Our theory characterizes the process through which the innovation is adopted sequentially by large and small banks, and how the adoption affects bank size distribution. Applying the theory to an empirical study of Internet banking diffusion among banks across 50 U.S. states, we examine the technological, economic and institutional factors governing the process. The empirical findings allow us to disentangle the interrelationship between Internet banking adoption and change in average bank size, and explain the variation in diffusion rates across geographic regions. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedrwp:13-10&r=ure |
| By: | German Cubas; B. Ravikumar; Gustavo Ventura |
| Abstract: | We develop a theory of labor quality based on (i) the division of the labor force between unskilled and skilled workers and (ii) investments in skilled workers. In our theory, countries differ in two key dimensions: talent and total factor productivity (TFP). We measure talent using the observed achievement levels from the Programme for International Student Assessment (PISA) scores. Our findings imply that the quality of labor in rich countries is about twice as large as the quality in poor countries. Thus, the implied disparities in TFP levels are smaller relative to the standard growth model using a measure of labor quality based on Mincer returns. In our model, the resulting elasticity of output per worker with respect to TFP is about 2. |
| Keywords: | Economic development ; Education - Economic aspects ; Labor productivity |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedlwp:2013-027&r=ure |
| By: | Salustri, Andrea |
| Abstract: | The article sheds light on virtual networks’ capability of driving landscape changes, both at epistemological level and at geographical level. “Living in” the landscape brings out the main drivers of change at individual level, while the ICTs are offering complementary places, with respect to those ones already existing, for increasing people’s role in sharing values and meanings. Then, common visions might emerge and “inform” landscape policies, indirectly influencing the meaning of wellbeing. Specifically, the socioeconomic theory might constitute a missing link between regulatory issues and technological achievements, enhancing and combining the new opportunities for participation offered by the European Landscape Convention, and by the widespread diffusion of social networks on the web. Indeed, “living in” the landscape inspires a plurality of visions that people are able to describe and share on the web or send directly to the interested institutions. Geographers might collect these issues and explore the landscape by living in it in order to produce “ethic visions”. Integrated with political and economic issues using the Regulation Impact Analysis (RIA), their contents might contribute to inform landscape transformation policies. Landscape policies might be participated also in the implementation phase, involving people in the fund raising activities and delegating the realization of some interventions to the spontaneous action of the interested citizens and firms. More participation at political and at social level might strengthen the sense of community reinforcing the narratives that connect the human and natural elements of landscape, integrating equity and sustainability in the traditional meaning of wellbeing. |
| Keywords: | European Landscape Convention, participation, crowdfunding, crowdsourcing |
| JEL: | R58 Z13 |
| Date: | 2013–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49864&r=ure |