R. Kelley Pace

Louisiana State University - E.J. Ourso College of Business Administration

LREC Endowed Chair of Real Estate

Department of Finance

2164 B Patrick F. Taylor Hall

Baton Rouge, LA 70803-6308

United States

http://www.spatial-statistics.com

  • Louisiana State University - E.J. Ourso College of Business Administration

    • Email
    • Tel: (225)-578-6256
    • Fax: (225)-578-9065
SCHOLARLY PAPERS

30

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4,992

TOTAL CITATIONS
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Top 22,172

in Total Papers Citations

103

Scholarly Papers (30)

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1.

The Biggest Myth in Spatial Econometrics

Number of pages: 42 Posted: 16 Dec 2010
James P. LeSage and R. Kelley Pace
Texas State University - McCoy College of Business Administration and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 1,341 (32,154)
Citation 40

Abstract:

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direct and indirect effects estimates, sensitivity to spatial weights

2.

Impacts of Extreme Weather Events on Mortgage Risks and Their Evolution under Climate Change: A Case Study on Florida

European Journal of Operational Research, Vol.314, 377-392 (2024)
Number of pages: 49 Posted: 28 Sep 2021 Last Revised: 16 Jan 2024
Raffaella Calabrese, Timothy Dombrowski, Antoine Mandel, R. Kelley Pace and Luca Zanin
University of Edinburgh - Edinburgh Business School, University of Missouri at Saint Louis, Université Paris I Panthéon-SorbonneClimate Finance Alpha, Louisiana State University - E.J. Ourso College of Business Administration and Prometeia
Downloads 686 (81,641)
Citation 6

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Climate Change, Credit Risk, Mortgage, Defaults, Mortgage Prepayments, Tropical Cyclones, Survival Analysis, Spatial Effects

3.

Biases of OLS and Spatial Lag Models in the Presence of an Omitted Variable and Spatially Dependent Variables

Number of pages: 13 Posted: 15 May 2008
R. Kelley Pace and James P. LeSage
Louisiana State University - E.J. Ourso College of Business Administration and Texas State University - McCoy College of Business Administration
Downloads 598 (97,107)
Citation 19

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Spatial dependence bias, least-squares regression

4.

Fast Simulated Maximum Likelihood Estimation of the Spatial Probit Model Capable of Handling Large Samples

Number of pages: 44 Posted: 29 Nov 2011
R. Kelley Pace and James P. LeSage
Louisiana State University - E.J. Ourso College of Business Administration and Texas State University - McCoy College of Business Administration
Downloads 354 (180,804)
Citation 12

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GHK, truncated multivariate normal, minimum degree, spatial probit, spatial autoregressive, sparse matrix, Halton sequence, maximum simulated likelihood, CAR

5.

Statistical Modeling of Structured Peer Group Dependence Arising from Salary Benchmarking Practices

Number of pages: 35 Posted: 11 Oct 2007
Eric Blankmeyer, James P. LeSage, James Stutzman, Kris Joseph Knox and R. Kelley Pace
Texas State University, Texas State University - McCoy College of Business Administration, Texas State University - Finance and Economics Department, Texas A&M University at Galveston and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 317 (203,617)
Citation 2

Abstract:

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Salary benchmarking, peer group dependence, spatial models

6.

Spatial Dependence in Regressors and its Effect on Estimator Performance

Number of pages: 34 Posted: 03 Apr 2011 Last Revised: 09 Apr 2011
R. Kelley Pace, James P. LeSage and Shuang Zhu
Louisiana State University - E.J. Ourso College of Business Administration, Texas State University - McCoy College of Business Administration and Kansas State University - Department of Finance
Downloads 315 (205,060)
Citation 7

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regressor autocorrelation, spatial Durbin model, REML, spatial autoregression, maximum likelihood, spatial econometrics

7.

The Influence of Foreclosure Delays on Borrower's Default Behavior

46th Annual AREUEA Conference Paper
Number of pages: 26 Posted: 29 Nov 2010 Last Revised: 24 Apr 2011
Shuang Zhu and R. Kelley Pace
Kansas State University - Department of Finance and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 259 (251,461)
Citation 9

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foreclosure, foreclosure delay, foreclosure time, mortgage default

8.

What Percentage of Common Stocks are Mispriced?

Number of pages: 36 Posted: 10 Jul 2001
Kevin C.H. Chiang, Ji-Chai Lin and R. Kelley Pace
University of Alaska Fairbanks - School of Management (SOM), Hong Kong PolyU and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 219 (296,436)

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9.

Space-Time Modeling of Natural Disaster Impacts

Number of pages: 29 Posted: 22 May 2011
James P. LeSage, R. Kelley Pace, Nina Lam and Richard Campanella
Texas State University - McCoy College of Business Administration, Louisiana State University - E.J. Ourso College of Business Administration, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 186 (345,309)
Citation 3

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space-time dynamic panel model, MCMC estimation, dynamic responses

10.

Using Housing Futures in Mortgage Research

Downloads 142 (434,899)

Using Housing Futures in Mortgage Research

Number of pages: 23 Posted: 19 Apr 2011
Shuang Zhu, R. Kelley Pace and Walter A. Morales
Kansas State University - Department of Finance, Louisiana State University - E.J. Ourso College of Business Administration and Commonwealth Advisors LLC
Downloads 142 (435,642)

Abstract:

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housing futures, real estate futures, housing expectation, house price expectation, mortgage default

Using Housing Futures in Mortgage Research

Journal of Real Estate Finance and Economics, Vol. 48, No. 1, 2014, Forthcoming
Posted: 02 Dec 2013
Shuang Zhu, R. Kelley Pace and Walter A. Morales
Kansas State University - Department of Finance, Louisiana State University - E.J. Ourso College of Business Administration and Commonwealth Advisors LLC

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Housing futures; Real estate futures; Housing expectation; House price expectation; Mortgage default

11.

Spatial Econometric Monte Carlo Studies: Raising the Bar

Number of pages: 22 Posted: 06 Apr 2017
James P. LeSage and R. Kelley Pace
Texas State University - McCoy College of Business Administration and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 125 (481,322)
Citation 2

Abstract:

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simulation of scalar summary direct and indirect effects, spatial autoregressive models, estimated variance-covariance matrices

12.

Income Stability and Mortgage Default

Number of pages: 27 Posted: 19 Jul 2017
Meagan McCollum and R. Kelley Pace
University of Tulsa - Collins College of Business and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 106 (545,286)

Abstract:

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mortgages, default, public records

13.

Modeling Spatially Interdependent Mortgage Decisions

Downloads 105 (549,094)
Citation 1

Modeling Spatially Interdependent Mortgage Decisions

Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 43 Posted: 19 Sep 2011 Last Revised: 29 Feb 2012
Shuang Zhu and R. Kelley Pace
Kansas State University - Department of Finance and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 105 (553,546)
Citation 1

Abstract:

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mortgage, mortgage default, spatial probit, spillover, interdependent disturbances

Modeling Spatially Interdependent Mortgage Decisions

Journal of Real Estate Finance and Economics, Vol. 49, No. 4, 2014
Posted: 14 Nov 2014
Shuang Zhu and R. Kelley Pace
Kansas State University - Department of Finance and Louisiana State University - E.J. Ourso College of Business Administration

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Mortgage; Spillovers; Mortgage default; Interdependence; Spatial probit

14.

A Revealed Preference Approach to Estimating Strategic Mortgage Default

Number of pages: 48 Posted: 13 Jun 2017 Last Revised: 15 Jun 2022
Meagan McCollum, Rajesh Narayanan and R. Kelley Pace
University of Tulsa - Collins College of Business, Louisiana State University and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 89 (612,624)
Citation 2

Abstract:

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Mortgages; Strategic Default; Curtailment

15.

Demographic, Jurisdictional, and Spatial Effects on Social Distancing in the United States during the COVID-19 Pandemic

Number of pages: 45 Posted: 26 May 2020 Last Revised: 30 Jul 2020
Rajesh Narayanan, James Nordlund, R. Kelley Pace and Dimuthu Ratnadiwakara
Louisiana State University, affiliation not provided to SSRN, Louisiana State University - E.J. Ourso College of Business Administration and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 86 (625,759)

Abstract:

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COVID-19, social distancing, stay at home, spatial dependence

16.

List Prices in the US Housing Market

Downloads 64 (737,388)

List Prices in the US Housing Market

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 30 Posted: 13 Aug 2016 Last Revised: 21 Jan 2017
Darren K. Hayunga and R. Kelley Pace
University of Georgia - Department of Insurance, Legal Studies, Real Estate and Louisiana State University - E.J. Ourso College of Business Administration
Downloads 64 (750,643)

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List prices, Sellers’ motivations, Sellers’ characteristics, Loss aversion, Urgency, List price reductions

List Prices in the US Housing Market

Journal of Real Estate Finance and Economics, Vol. 55, No. 2, 2017
Posted: 06 Oct 2017
Darren K. Hayunga and R. Kelley Pace
University of Georgia - Department of Insurance, Legal Studies, Real Estate and Louisiana State University - E.J. Ourso College of Business Administration

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List Prices; Sellers' Motivations; Sellers' Characteristics; Loss Aversion; Urgency; List Price Reductions

17.

Borrower Risk and Housing Price Appreciation

Journal of Real Estate Finance and Economics, May 2019, Volume 58, Issue 4, pp 544–566
Posted: 27 Jun 2019
Darren K. Hayunga, R. Kelley Pace and Shuang Zhu
University of Georgia - Department of Insurance, Legal Studies, Real Estate, Louisiana State University - E.J. Ourso College of Business Administration and Kansas State University - Department of Finance

Abstract:

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House appreciation; Probability of default

18.

The Impact of TOM on Prices in the US Housing Market

Journal of Real Estate Finance and Economics, Forthcoming
Posted: 10 May 2019
Darren K. Hayunga and R. Kelley Pace
University of Georgia - Department of Insurance, Legal Studies, Real Estate and Louisiana State University - E.J. Ourso College of Business Administration

Abstract:

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Time on the market; Instrumental variables; Omitted variables; Simultaneity; Urgency; Income; Reasons for sale

19.

Implicit Hedonic Pricing Using Mortgage Payment Information

Journal of Real Estate Finance and Economics, Vol. 54, No. 3, 2017
Posted: 18 Mar 2017
R. Kelley Pace and Shuang Zhu
Louisiana State University - E.J. Ourso College of Business Administration and Kansas State University - Department of Finance

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Mortgage; Mortgage Default; Latent Index; Implicit Prices; Hedonic House Price

20.

Inferring Price Information from Mortgage Payment Behavior: A Latent Index Approach

Journal of Real Estate Finance and Economics, Vol. 53, No. 2, 2016
Posted: 24 Jun 2016
R. Kelley Pace and Shuang Zhu
Louisiana State University - E.J. Ourso College of Business Administration and Kansas State University - Department of Finance

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House price index; Mortgage; Mortgage default; Latent index

21.

Distressed Properties: Valuation Bias and Accuracy

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Distressed Properties: Valuation Bias and Accuracy

Journal of Real Estate Finance and Economics, Forthcoming
Posted: 21 Apr 2011
Shuang Zhu and R. Kelley Pace
Kansas State University - Department of Finance and Louisiana State University - E.J. Ourso College of Business Administration

Abstract:

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appraisal bias, appraisal accuracy, distressed property, foreclosure

Distressed Properties: Valuation Bias and Accuracy

Journal of Real Estate Finance and Economics, Vol. 44, Nos. 1/2, 2012
Posted: 26 Jan 2012
Shuang Zhu and R. Kelley Pace
Kansas State University - Department of Finance and Louisiana State University - E.J. Ourso College of Business Administration

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Appraisal bias, Appraisal accuracy, Distressed property, Foreclosure

22.

Spatial Distribution of Retail Sales

Posted: 29 Dec 2004
Ming-Long Lee and R. Kelley Pace
National Yunlin University of Science and Technology and Louisiana State University - E.J. Ourso College of Business Administration

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Spatial autogregression, spatial statistics, spatial econometrics, gravity model, trade area

23.

Models for Spatially Dependent Missing Data

Posted: 02 Feb 2004
James P. LeSage and R. Kelley Pace
Texas State University - McCoy College of Business Administration and Louisiana State University - E.J. Ourso College of Business Administration

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spatial missing data, EM algorithm, sparse matrices, assessment, spatial sample selectivity, hedonic pricing

24.

Total Grid Estimation

Posted: 22 Oct 1998
R. Kelley Pace
Louisiana State University - E.J. Ourso College of Business Administration

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25.

Appraisal Using Generalized Additive Models

Posted: 02 Sep 1998
R. Kelley Pace
Louisiana State University - E.J. Ourso College of Business Administration

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26.

Parametric, Semiparametric, and Nonparametric Estimation of Characteristic Values within Mass Assessment and Hedonic Pricing Models

J. OF REAL ESTATE FINANCE AND ECONOMICS, Vol. 11 No. 3
Posted: 03 Jul 1998
R. Kelley Pace
Louisiana State University - E.J. Ourso College of Business Administration

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27.

Spatial Statistics and Real Estate

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, Volume 17, Issue 1
Posted: 20 May 1998
Ronald Barry, R. Kelley Pace and C. F. Sirmans
University of Alaska-Fairbanks, Louisiana State University - E.J. Ourso College of Business Administration and Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law

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28.

Spatio-Temporal Autoregressive Models of Neighborhood Effects

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS
Posted: 08 May 1998
R. Kelley Pace, Ronald Barry, John M. Clapp and Mauricio Rodriguez
Louisiana State University - E.J. Ourso College of Business Administration, University of Alaska-Fairbanks, University of Connecticut - Department of Finance and Texas Christian University

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29.

Using the Spatial Configuration of the Data to Improve Estimation

J. OF REAL ESTATE FINANCE AND ECONOMICS, Vol. 14 No. 3
Posted: 06 Jun 1997
R. Kelley Pace and Otis W. Gilley
Louisiana State University - E.J. Ourso College of Business Administration and Louisiana Tech University

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30.

Relative Performance of the Grid, Nearest Neighbor, and Ols Estimators

J. OF REAL ESTATE FINANCE AND ECONOMICS, Vol. 13 No. 2
Posted: 11 Oct 1996
R. Kelley Pace
Louisiana State University - E.J. Ourso College of Business Administration

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