A modelling framework aimed at obtaining reliable income projections at the regional level in European countries will be presented. The methodological setting allows for an explicit assessment of model uncertainty in terms of the choice of explanatory variables and the specification of spatial spillovers. The group exploits and expands recent developments in Bayesian model averaging in order to construct projected trajectories of income per capita at the regional level and exemplify the workings of the methodology by examining the potential contribution of future educational attainment changes to economic growth and income convergence in the European Union.
Date: Monday, November 24, 2014; 16:00 – 17:00
Place: Techno-Z, GI-lecture room: SC30OG1.107 (Schillerstraße 30, building 14, first floor)
Presenter: Dr. Jesus Crespo Cuaresma (WU Vienna, Department of Economics)