The DNB Econometric Model of the Netherlands Economy (Morkmon)

Author(s):  
F.A.G. den Butter
2015 ◽  
Vol 8 (3) ◽  
pp. 305-326 ◽  
Author(s):  
Huub Ploegmakers ◽  
Friso de Vor

Purpose – The purpose of this paper is to demonstrate how the specification of hedonic pricing models can be improved by using insights generated from qualitative research. In doing so, it seeks to address one of the main problems in the specification of hedonic models, namely that theory yields little guidance in the selection of the characteristics that should be included on the right-hand side. Design/methodology/approach – Building on the behavioural tradition in real estate research, this paper introduces a research approach that integrates insights from qualitative analysis in an econometric model of land values. The empirical segment explores the way in which asking prices of building plots for industrial purposes are determined in The Netherlands. It draws from interviews with municipal land developers, who dominate supply in this market. The information secured during these interviews relates to the characteristics considered important and the kind of information used in the valuation process. Based on these qualitative data, an econometric model is developed and estimated. Findings – The estimation results confirm qualitative evidence that the typical developer considers only a limited number of features of the land in the valuation process and that the primary source of information in setting asking prices relates to the prices charged in neighbouring municipalities. Originality/value – This paper represents a novel attempt to examine the determination of land and property values by merging qualitative and quantitative, econometric analyses.


2016 ◽  
Vol 41 (1) ◽  
pp. 103-128 ◽  
Author(s):  
Karima Kourtit ◽  
Peter Nijkamp

Creativity has in recent years received much attention from the research community, in relation to both technological innovation and knowledge spillovers. In the same vein, the concept of a creative class and of a creative city has gained a rising popularity. The present study aims to investigate the impacts of the urban “ambiance” on the spatial dispersion of heterogeneous types of creative people over different urban agglomerations. To that end, creative people are classified according to their profession or job class into Bohemians, creative core, and creative professionals. This article, then, seeks to relate the presence of each of these groups to the cultural ambiance of a given locality beside other moderator variables. Next, an econometric model is constructed and applied to explain the spatial distribution of creative professions in the Netherlands. Our study first maps out the spatial spread of these three creative classes in the Netherlands. Next, the shares of these creative classes are related to cultural, ecological, ethnic, and geographic characteristics of Dutch municipalities. Our results show that Bohemians and people belonging to the creative core exhibit a specific spatial pattern: they appear to be overrepresented in municipalities with a relative overconcentration of culture, nature, and ethnic diversity and with a short distance to job places.


Author(s):  
Abe de Jong ◽  
Wilco Legierse

Abstract This paper explains fluctuations in the number of initial public offerings (IPOs) between 1876 and 2015 in the Netherlands. We test an econometric model and find that the number of IPOs is strongly related to the economic growth and the size of the stock exchange. We also find that IPOs are timed to coincide with favorable market conditions. Our model explains almost 50 percent of the fluctuations and most of the hot markets. To further understand IPO waves, we conduct a descriptive analysis, which yields two additional causes for hot markets, i.e., high capital needs and investors’ expectations for specific industries.


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