Specification and estimation of spatial econometric models : A discussion of alternative strategies for spatial economic modelling

The semantical insufficiency of (spatial) economic theories necessitates the making of additional assumptions — thereby introducing substantial specification uncertainty — in order to arrive at a fully specified econometric model. The traditional or current approach to econometric modelling treats specification uncertainty inadequately. This proposition is illustrated by two well-known examples from the spatial economic literature. Two alternative specification strategies for spatial economic modelling — designed to improve the current spatial econometric modelling approach — are proposed. One of these strategies is used for a specification analysis of agricultural output in Eire

Inversionistas institucionales, reforma del régimen de pensiones y mercados bursátiles emergentes

(Disponible en idioma inglés únicamente) En este trabajo se trata la gama de factores que pueden estimular un mayor desarrollo del sector institucional interno mediante medidas de reforma de los sistemas de pensiones. El desarrollo del sector institucional de las economías de mercados emergentes se compara con las experiencias de los países miembros de la OCDE. La atención se concentra en los factores claves que han venido (y siguen) impulsando el crecimiento de las actividades de los inversionistas institucionales de la OCDE y el efecto de los inversionistas institucionales en los mercados bursátiles.

Testing the spatial scale and the dynamic structure in regional models (a contribution to spatial econometric specification analysis)

This article addresses the problem of specification uncertainty in modeling spatial economic theories in stochastic form. It is ascertained that the traditional approach to spatial econometric modeling does not adequately deal with the type and extent of specification uncertainty commonly encountered in spatial economic analyses. Two alternative spatial econometric modeling procedures proposed in the literature are reviewed and shown to be suitable for analyzing systematically two sources of specification uncertainty, viz., the level of aggregation and the spatio-temporal dynamic structure in multiregional econometric models. The usefulness of one of these specification procedures is illustrated by the construction of a simple multiregional model for The Netherlands

Recursive algorithms for the elimination of redundant paths in spatial lag operators

Recursive algorithms for the elimination of redundant paths in spatial lag operators are introduced. It is shown that these algorithms have superior computational properties in comparison with the cumbersome procedure proposed by Ross and Harary (1952). A rigorous definition of spatial lag operators is given, while a number of mathematical results and properties are derived. Theoretical and empirical results regarding the performance of the proposed algorithms are presented

Visions about the Future of Banking

I will address in this study the future of banking. This will be done against the backdrop of revolutionary forces shaping an increasingly fast-moving banking landscape. The first part of the study focuses on the ultra-long drivers of banking structures and institutions. To that end, I will identify the long-term determinants of our rapidly changing society. The second part will outline the implications of this long-term vision for the strategic direction and business models of banks in the near future

International Economic Linkages and the International Debt Situation

"Coping with the debt crisis" was a major recurrent theme in international economic affairs during the 1980s. Managing the legacy of the crisis remains a major challenge of the 1990s, both for OECD creditor countries and for the debtor countries themselves. During the 1980s, following the Mexican payments crisis of August 1982, a number of debt "plans" and "strategies" have been introduced, but overall progress has been slow; one major achievement, however, has been to avoid a major banking crisis. This article results from a project to investigate the relationship between macroeconomic developments in OECD countries and those in debtor countries'. From the light that this throws on the interaction of international linkages, including those between OECD macroeconomic policies and debtor countries, we can better understand why many of the hopes and expectations of these plans were not realised. To analyse the relationship, between the macroeconomic environment, debt, and economic performance, the approach taken here was to build small macroeconometric models for Latin America (DEMOD) that are simulated in combination with the OECD world model, INTERLINK2. These models, whose broad structure is outlined in the Appendix and described more fully in Dittus and O'Brien (1990), take many variables from INTERLINK, analyse their impact on Latin America, and then provide feedback to the main system. This builds on the strengths of INTERLINK - its global character, providing explicit modelling of international linkages of trade volumes, prices, interest and exchange rates, as well as assuring world consistency - wi$h the additional benefit of more detailed information on Latin American debtor countries. The following section provides a brief overview of the history of the debt crisis during the 1980s. It is followed by three sections which look at different aspects of the relation between debt and macroeconomic developments. First, we look at the influence of the world economy and of domestic policies on the evolution of the debt crisis from 1982 to 1986; then we look at some conditions under which new money packages may be beneficial, and discuss how debtreduction schemes fit into this picture; following this, we consider the impact that macroeconomic imbalances - another recurring theme of the 1980s - may have on Latin America performance and the debt situation. The final section draws some conclusions

Changes in income and employment after diagnosis among patients with multiple myeloma in The Netherlands

Objective: Due to new treatment options, survival rates in multiple myeloma (MM) are improving. Consequently, maintaining work and income is becoming more important for patients and society. Therefore, we aimed to explore the change in income and employment in patients with MM. Methods: Data from the Netherlands Cancer Registry of MM patients diagnosed between 2012 and 2017 were merged with socioeconomic data from Statistics Netherlands. Descriptive statistics were used to analyse total income, income from employment, and accumulated income before and after diagnosis. Results: Income from employment decreased by 45% in MM patients, between 1 year before and 4 years after diagnosis Four years after diagnosis, 35% of the patients were still employed, with an accumulated 5-year productivity loss of €121 million. Higher income loss from employment and job loss was observed in female patients, patients with more extensive disease, or those not treated with autologous stem cell transplant.Conclusion: Loss of (income from) employment among patients with MM was high, causing financial burden on the patient and society. With improving survival in MM, more research and awareness are needed to better assess the importance of income and work for MM patients and society.</p

Changes in income and employment after diagnosis among patients with multiple myeloma in The Netherlands

Objective: Due to new treatment options, survival rates in multiple myeloma (MM) are improving. Consequently, maintaining work and income is becoming more important for patients and society. Therefore, we aimed to explore the change in income and employment in patients with MM. Methods: Data from the Netherlands Cancer Registry of MM patients diagnosed between 2012 and 2017 were merged with socioeconomic data from Statistics Netherlands. Descriptive statistics were used to analyse total income, income from employment, and accumulated income before and after diagnosis. Results: Income from employment decreased by 45% in MM patients, between 1 year before and 4 years after diagnosis Four years after diagnosis, 35% of the patients were still employed, with an accumulated 5-year productivity loss of €121 million. Higher income loss from employment and job loss was observed in female patients, patients with more extensive disease, or those not treated with autologous stem cell transplant.Conclusion: Loss of (income from) employment among patients with MM was high, causing financial burden on the patient and society. With improving survival in MM, more research and awareness are needed to better assess the importance of income and work for MM patients and society.</p