Abstract: Abstract This chapter examines the rise of the Bayesian econometrics. It describes briefly the major causes of the Bayesian movement, the ways in which Bayesian inferences was applied, the problems that the applications were intended and the results achieved. It focuses on how the Bayesian approach was used for model specification analysis by Leamer in his advocacy for the Bayesian approach and how his arguments helped in deepening the understanding of a range of modelling issues. It also briefly describes the development of time-series econometrics using the Bayesian tools.
Publication Year: 2013
Publication Date: 2013-07-25
Language: en
Type: book-chapter
Indexed In: ['crossref']
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