This paper estimates tenure choice and housing demand equations in Italy, using cross-section data from the Bank of Italy 1991 Survey. The data include information on housing characteristics that is used to calculate hedonic price indexes for the Italian housing market. Empirical literature in...

The non-distribution constraint of non-governmental organizations (NGOs) would be harder, and financiers as well as recipients could expect more charitable output from them, if less efficient NGOs were squeezed out of international development cooperation. We employ Probit and complementary...

The non-distribution constraint of non-governmental organizations (NGOs) would be harder, and financiers as well as recipients could expect more charitable output from them, if less efficient NGOs were squeezed out of international development cooperation. We employ Probit and complementary...

The multi-period multinomial Probit model (MMPM) is seen as a flexible tool to explain individual choices among several alternatives over time. There are two versions of this model: a) for each individual the covariates for all alternatives are known and b) for each individual only the...

This paper analyses the factors behind the financial distress of local government in Portugal. A Probit model is used to estimate the probability of a municipality entering into a financial recovery contract, regulated by the Portuguese Local Finance Law. Empirical results indicate that both...

This paper proposes the use of forecast combination to improve predictive accuracy in forecasting the U.S. business cycle index, as published by the Business Cycle Dating Committee of the NBER. It focuses on one-step ahead out-of-sample monthly forecast utilising the well-established coincident...

The recent financial crisis has demonstrated in an impressive way that boom/bust cycles can have devastating effects on the real economy. This paper aims at contributing to the literature on early warning indicator exercises for asset price booms. Using a sample of 17 industrialized OECD...

We estimate ordered probit models to analyze the determinants of supermarket entry. We use reduced form models in which de profits are function of observable variables. These variables influence cost and demand and therefore benefits. We use an ANTAD database that gives us the location of...

Informality is a common phenomenon in developing countries and an unusual one in industrialized countries. The persistence of informal employment is indicative of the impossibility of moving out of this status for a certain period of time. Using pseudo panel data, empirical evidence is presented...