Spatial econometrics is the field where

spatial analysis Spatial analysis or spatial statistics includes any of the formal techniques Technique or techniques may refer to: Music * The Techniques, a Jamaican rocksteady vocal group of the 1960s *Technique (band), a British female synth pop band in the ...

and

econometrics Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships.M. Hashem Pesaran (1987). "Econometrics," '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8� ...

intersect. The term “spatial econometrics” was introduced for the first time by the Belgian economist Jean Paelinck (universally recognised as the father of the discipline) in the general address he delivered to the annual meeting of the Dutch Statistical Association in May 1974 (Paelinck and Klaassen, 1979). In general, econometrics differs from other branches of statistics in focusing on theoretical models, whose parameters are estimated using

regression analysis In statistical modeling, regression analysis is a set of statistical processes for estimating the relationships between a dependent variable (often called the 'outcome' or 'response' variable, or a 'label' in machine learning parlance) and one ...

. Spatial econometrics is a refinement of this, where either the theoretical model involves interactions between different entities, or the data observations are not truly independent. Thus, models incorporating spatial auto-correlation or

neighborhood effects The neighborhood effect is an economic and social science concept that posits that neighbourhoods have either a direct or indirect effect on individual behaviors. Although the effect of the neighbourhood was already known and studied at the begin ...

can be estimated using spatial econometric methods. Such models are common in regional science,

real estate economics Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand. The closely related field of housing economics is narrower in scope, con ...

education economics Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs ...

housing market Housing market can refer to: * The economics of real-estate used for residential purposes; see Real estate economics. * Real estate business - buying, selling, or renting real estate (land, buildings, or housing). * The problem of assigning indivis ...

and many others. Adopting a more general view, in the by-law of the Spatial Econometrics Association

the discipline is defined as the set of “models and theoretical instruments of spatial statistics and spatial data analysis to analyse various economic effects such as externalities, interactions, spatial concentration and many others” (Spatial Econometrics Association, 2006). Recent developments tend to include also methods and models from

social network A social network is a social structure made up of a set of social actors (such as individuals or organizations), sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for ...

econometrics.

History

The first general text in the field was the 1979 book by Paelinck and Klaasen.

References

* * * * * * * * * Econometric modeling Regional science Spatial analysis Geographic data and information fields of study {{econometrics-stub

History

See also

References