Abstract:This paper offers an analysis of errors in stochastic forecasts in case of economic shocks, on the basis of local intangible investments and historic cultural persistence in Greece. The main objective of the paper is to demonstrate that local culture is a factor of significance for resistance to economic shocks. To operationalize our study, we use two data sources: (i) the European University Institute (EUI) European Regional Dataset (ERD) which offers a timeseries for Greece on a NUTS-III level for the period… Show more
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