This article provides an overview of Geographic Information Systems (GIS) and the issues surrounding their use in mortgage finance and related industries. After a brief introduction to GIS and geographic data, the application of GIS technology to mortgage finance is explored. The article also examines organizational challenges in developing in-house GIS capability. GIS’s greatest potential cont...

In analyzing the distributional properties of estimators and other statistics in econometric models, the small disturbance asymptotic theory has assumed a prominent place for several reasons. For instance, the exact finite-sample distribution theory generally provides intricate expressions from which it is hard to draw any neat inference related to the efficiency properties of estimators, confi...

There is hardly a concept in econometrics that is more enigmatic and controvertial than that of exogeneity. This report|an edited excerpt from (Pearl 2000)|claims that exogeneity is a rather simple concept, readily de nable in terms of standard econometric models, and that the confusion stems primarily from improper usage of statistical vocabulary in a structural framework.

Experimental data have consistently shown diversity in beliefs as well as in actions among experimental subjects. This paper presents and compares alternative behavioral econometric models for the characterization of player heterogeneity, both between sub-populations of players and within subpopulations. In particular, two econometric models of diversity within sub-populations of players are in...

The housing and mortgage markets have long been considered to be markets that may not always be in equilibrium, and many econometric models of the housing and mortgage markets have tried in one way or another to account for disequilibrium effects. In this paper a critique of previous models of the housing and mortgage markets is made. The main argument of the paper is that disequilibrium effect...

This study investigates the spatial heterogeneity of flypaper effect in a sample 2,451 Spanish municipalities over period 2003–2015 by means Bayesian panel data econometric te...