New Spatial Models Revolutionize Understanding of Economic Patterns and Trends
This article reviews different ways to analyze spatial data in economics. It compares two types of models, one with specific parameters and one more flexible. The goal is to see which model works best for different types of spatial data, like how things are connected in space and time. The researchers don't focus on how to calculate the models, but on how well they fit the data. They also mention software that can help with these calculations.