Kehoe2006 advocates that in evaluating an economic model, the Sims-Cogley-Nason (SCN) approach should be adopted in which empirical impulse responses are compared to those obtained from the identical structural VAR run on model generated data of the same length as actual observations. This paper...

This paper concerns the joint modeling, estimation and testing for local and global spatial externalities. Spatial externalities have become in recent years a standard notion of economic research activities in relation to social interactions, spatial spillovers and dependence, etc., and have...

This paper concerns the joint modeling, estimation and testing for local and global spatial externalities. Spatial externalities have become in recent years a standard notion of economic research activities in relation to social interactions, spatial spillovers and dependence, etc., and have...