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Learning the Shape of the Likelihood of Typical Econometric Models using Gibbs Sampling

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Author Info
Michiel D. de Pooter
Rengert Segers

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Abstract

The shape of the likelihood of several recently developed econometric models is often non-elliptical. Learning this shape using Gibbs sampling is discussed in this paper. A systematic analysis using graphical and computational methods is presented. Examples of the models considered in this paper are nearly non-stationary and non-identified models, weak-instrument models, mixture models and random-coefficients panel-data models

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Publisher Info
Paper provided by Society for Computational Economics in its series Computing in Economics and Finance 2004 with number 82.

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Date of creation: 11 Aug 2004
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Handle: RePEc:sce:scecf4:82

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Related research
Keywords: Gibbs sampler; MCMC; non-stationarity; reduced rank models; label switching; random coefficients panel data models;

Find related papers by JEL classification:
C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Bayesian Analysis
C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Statistical Simulation Methods
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions

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This page was last updated on 2009-11-27.


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