Modeling regional economic dynamics: spatial dependence, spatial heterogeneity and nonlinearities Articles uri icon

publication date

  • November 2014

start page

  • 229

end page

  • 245

volume

  • 48

international standard serial number (ISSN)

  • 0165-1889

electronic international standard serial number (EISSN)

  • 1879-1743

abstract

  • Spatial modeling of economic phenomena requires the adoption of complex econometric tools, which allow us to deal with important methodological issues, such as spatial dependence, spatial unobserved heterogeneity and nonlinearities. In this paper we describe some recently developed econometric approaches (i.e. Spatial Autoregressive Semiparametric Geoadditive Models), which address the three issues simultaneously. We also illustrate the relative performance of these methods with an application to the case of house prices in the Lucas County. (c) 2014 Elsevier B.V. All rights reserved.

keywords

  • spatial econometrics; nonlinearities; semiparametric models; housing prices; urban sprawl; econometrics; growth; externalities; specification; perspectives; diffusion; splines