Empirical analysis of interdependency in municipal fiscal behavior

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There were few empirical studies on fiscal behavior of local governments which incorporates with neighboring governments. However, recent developments in spatial econometrics enable us to consider spatial or spatio-temporal autocorrelation as spatial or spatio-temporal autoregressive models. In this research, we broadened the area the technique covers by our new computer program. As empirical applications, we concentrated on spatial models of municipal fiscal behavior. Main features of our new estimation program are (1) Multiple spatial terms, (2) Functional heterosckedastic disturbances, and (3) Simultaneous spatial autoregressive model.