Recently municipal household income has been estimated with spatial econometrics techniques explicitly including spatial autocorrelation in the econometric models. Spatial econometric tools have highly improved the explicative and predictive capacity of the models and more effort must be done in this direction. The purpose of this article is to state an alternative way to estimate household income in small areas with a space-time model, which both correct spatial effects and introduce time dimension, borrowing strength to estimate the municipal distribution of disposable income. We have selected a spatial SUR model, which includes both spatial and space-time autocorrelation effects. Finally, this model is applied to the estimation of municipal household income in the Region of Murcia.
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Paper provided by EconWPA in its series Econometrics with number
0403003.