Despite significant mathematical refinements, econometrics has shown the weaknesses of its logical underpinnings, primarily during economic turning points—financial crises, pandemics, and geopolitical ...

Spatial econometrics addresses the challenges posed by spatially correlated data, enabling researchers to understand and quantify how economic phenomena in one location can influence those in ...

Economists develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “Economic Models,” p. 8). For ...