Using Simulation Methods for Bayesian Econometric Models
AbstractThis paper surveys the fundamental principles of subjective Bayesian inference in econometrics and their implementation using posterior simulation methods. The emphasis is on the combination of models and the development of predictive distributions. The paper shows how posterior simulators can facilitate communication between investigators (for example, econometricians) on the one hand and remote clients (for example, decision makers) on the other, enabling clients to vary the prior distributions and functions of interest employed by investigators.
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Bibliographic InfoPaper provided by Society for Computational Economics in its series Computing in Economics and Finance 1999 with number 832.
Date of creation: 01 Mar 1999
Date of revision:
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