Specification and estimation of spatial econometric models: A discussion of alternative strategies for spatial economic modelling |
| |
Authors: | Hans J Blommestein |
| |
Institution: | Twente University of Technology, 7500 AE Enschede, The Netherlands |
| |
Abstract: | The semantical insufficiency of (spatial) economic theories necessitates the making of additional assumptions — thereby introducing substantial specification uncertainty — in order to arrive at a fully specified econometric model. The traditional or current approach to econometric modelling treats specification uncertainty inadequately. This proposition is illustrated by two well-known examples from the spatial economic literature. Two alternative specification strategies for spatial economic modelling — designed to improve the current spatial econometric modelling approach — are proposed. One of these strategies is used for a specification analysis of agricultural output in Eire. |
| |
Keywords: | |
本文献已被 ScienceDirect 等数据库收录! |