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The model has two spatially lagged variables: one for units that are still in state 0 and one for units that had already transferred to state 1. The parameters are estimated on observations for those units that are still in state 0 at the start of the different time periods, whereas observations on units after they transferred to state 1 are discarded, just as in the literature on duration modeling. Furthermore, neighboring units that had not yet transferred may have a different impact from units that had already transferred. We illustrate our approach with an empirical study of the adoption of inflation targeting for a sample of 58 countries over the period 1985\u20132008. Copyright \u00a9 2016 John Wiley &amp; Sons, Ltd.<\/jats:p>","DOI":"10.1002\/jae.2505","type":"journal-article","created":{"date-parts":[[2016,2,18]],"date-time":"2016-02-18T19:01:21Z","timestamp":1455822081000},"page":"422-439","source":"Crossref","is-referenced-by-count":21,"title":["Transitions at Different Moments in Time: A Spatial Probit Approach"],"prefix":"10.1002","volume":"32","author":[{"given":"J. Paul","family":"Elhorst","sequence":"first","affiliation":[{"name":"University of Groningen Netherlands"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Pim","family":"Heijnen","sequence":"additional","affiliation":[{"name":"University of Groningen Netherlands"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Anna","family":"Samarina","sequence":"additional","affiliation":[{"name":"University of Groningen Netherlands"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Jan P. A. 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