Question: Exercise 4.3 Consider again the dataset used in Exercise 3.1 related to the 27 European Member States. Estimate a heteroscedastic SARAR model which explains the

Exercise 4.3 Consider again the dataset used in Exercise 3.1 related to the 27 European Member States. Estimate a heteroscedastic SARAR model which explains the growth in one country as a function of the education expenses in the same country plus additional spatial lag and spatial error terms. Estimate the model using the parametric approach (section 4.1.2).

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