Recent research suggests that the power law is one of the most universal laws in nature and it also seems to work quite fine in economics and finance. In this paper we show that the power law explains extremely…
This paper conducts a spatial econometric analysis of the determinants of regional specialisation patterns. Spatial autocorrelation is present, but is mostly due to spatial error autocorrelation. Spatial…
This study analyses relative sectoral specialisation of EU regions on the basis of investment and employment patterns. Controlling for heteroscedasticity and potential endogeneity in the econometric analysis, we…