Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5066547 | European Economic Review | 2016 | 17 Pages |
Abstract
The issue of model uncertainty is central to the empirical study of economic growth. Many recent papers use Bayesian Model Averaging to address model uncertainty, but (Ciccone and JarociÅski, 2010) have questioned the approach on theoretical and empirical grounds. They argue that a standard 'agnostic' approach is too sensitive to small changes in the dependent variable, such as those associated with different vintages of the Penn World Table (PWT). This paper revisits their theoretical arguments and empirical illustration, drawing on more recent vintages of the PWT, and introducing an approach that limits the degree of agnosticism.
Related Topics
Social Sciences and Humanities
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Economics and Econometrics
Authors
James Rockey, Jonathan Temple,