Description
Bayesian Spatial Panel Data Models with Convex Combinations of Weight Matrices.
Description
Bayesian Markov chain Monte Carlo (MCMC) estimation of spatial panel data models including Spatial Autoregressive (SAR), Spatial Durbin Model (SDM), Spatial Error Model (SEM), Spatial Durbin Error Model (SDEM), and Spatial Lag of X (SLX) specifications with fixed effects. Supports convex combinations of multiple spatial weight matrices and Bayesian Model Averaging (BMA) over subsets of weight matrices. Implements the convex combination spatial weight matrix methodology of Debarsy and LeSage (2021) <doi:10.1080/07350015.2020.1840993> and the Bayesian spatial panel data models of LeSage and Pace (2009, ISBN:9781420064247).