Beschreibung
The work at hand is concerned with spatial dependence in econometric
models, offering a work of reference to the applied researcher.
In economics, spatial aspects are usually somewhat disregarded, which – as
is shown and quantified here – may seriously impair research results. This
work presents the basic tool kit of treating cross sectional dependence,
which typically occurs between spatial observations. The methods are
introduced as straightforward enhancement of standard econometric models
and methods, placing emphasis on the practical aspects of their features.
