In this paper we examine heterogeneity in the simultaneous space-time impact of foreclosures on neighborhood property values. The heterogeneity arises from foreclosed properties that experienced different types of foreclosure outcomes. We find that for foreclosures that are not observed to have concluded with a market sale, the negative price impacts begin while the foreclosing household still ...

Over the past two decades, Germany experienced several periods of banking system instability rather than full-blown banking system crises. In this paper we introduce a continuous and forward-looking stability indicator for the banking system based on information on all financial institutions in Germany between 1995 and 2010. Explaining this measure by means of panel regression techniques, we id...

The aim of this paper is to analyze the relationship between large firms ́ knowledge spillovers and small and medium enterprises (SMEs) absorptive capacities. We built direct indicators for these two concepts and we carried out a structural equations analysis to determine the relationship between them. Based on firm level original data from a survey that focus on SMEs in a Mexican locality, this...

Public scientists (scientists only from now onwards), understood as a member of the teaching and/or research staff of a public university or a public research organization (including humanities and social sciences), benefit the academic community, industry and other social collectives through teaching and research. Most visible contributions are training skilled workforce, increasing the pool o...

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expresse...

Policy makers propose to promote healthy marriage among low-income unmarried couples by providing services to improve relationship skills. This article uses data from the Fragile Families and Child Wellbeing Study to explore whether enhancing parents’ relationship skills may have spillover effects on parent-child relationships. Drawing on findings that relationship quality is positively associa...

We develop a theory for a transition economy under which an unbalanced development strategy that favors special economic zones emerges as a response to two critical problems: (1) political pressure to satisfy certain social expenditure requirements, and (2) the lack of institutions to constrain the state from expropriation. By promoting the concentration of resources in some areas, a low equili...

Knowledge spillover is a kind of externality originating from imperfect appropriation of R&D performances, which implies that the knowledge created by one agent could be transmitted to other related agents by affecting their R&D or other economic performances. For the estimation of knowledge spillover effects based on firm-level patent data between firms in bio-related industries, patents produ...

Knowledge spillovers have been used to explain the increased rate of innovation that is found in technological clusters. The last two decades have seen an increasing interest by researchers trying to capture and measure the effects of these spillovers. However, very little is known about the mechanisms of knowledge exchange that take place in clusters. In this paper we draw on the current body ...