Discussion Paper Series in Economics, Department of Economics, Norwegian School of Economics (NHH)
After “Raising the Bar”: applied maximum likelihood estimation of families of models in spatial econometrics.
Abstract: Elhorst (2010) shows how the recent publication of LeSage
and Pace (2009) in his expression “raises the bar” for our fitting of
spatial econometrics models. By extending the family of models that deserve
attention, Elhorst reveals the need to explore how they might be fitted,
and discusses some alternatives. This paper attempts to take up this
challenge with respect to implementation in the R spdep package for the
maximum likelihood case, using a smaller data set to see whether earlier
conclusions would be changed when newer techniques are used, and two larger
data sets to examine model fitting issues.
Keywords: Models; Econometrics; (follow links to similar papers)
JEL-Codes: C13; C21; C87; (follow links to similar papers)
19 pages, October 15, 2011
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