False posteriors for the long-term growth determinants
AbstractThis paper shows: (1) bias may exist in Bayesian methods of selecting regressors; (2) the non-zero posterior inclusion probability of irrelevant regressors might affect the choice of regressors; and (3) how to compute the probability of falsely including a variable.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 109 (2010)
Issue (Month): 3 (December)
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Web page: http://www.elsevier.com/locate/ecolet
Bayesian averaging Long-term growth Selection of determinants Selection bias;
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