Scandinavian Working Papers in Economics

Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

No 309: Simultaneous-equations Analysis in Regional Science and Economic Geography

Timo Mitze () and Andreas Stephan ()
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Timo Mitze: University of Southern Denmark
Andreas Stephan: Jönköping International Business School

Abstract: This paper provides an overview over simultaneous equation models (SEM) in the context of analyses based on regional data. We describe various modelling approaches and highlight close link of SEMs to theory and also comment on the advantages and disadvantages of SEMs.We present selected empirical works using simultaneous-equations analysis in regional science and economic geography in or-der to show the wide scope for applications. We thereby classify the empirical contributions as either being structural model presentations or vector autoregressive (VAR) models. Finally, we provide the reader with some details on how the various models can be estimated with available software packages such as STATA, LIMDEP or Gauss.

Keywords: Structural Equation Models; Regional Science and Economics; Empirical Applications; Software

JEL-codes: C33; C87

17 pages, May 14, 2013

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