Bhattacharjee, Arnab; Ditzen, Jan; Holly, Sean - In: Essays in honor of M. Hashem Pesaran : panel modeling, …, (pp. 37-60). 2022
The authors provide a way to represent spatial and temporal equilibria in terms of error correction models in a panel setting. This requires potentially two different processes for spatial or network dynamics, both of which can be expressed in terms of spatial weights matrices. The first...