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Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach

The American economic review, 2004-09, Vol.94 (4), p.813-835 [Tạp chí có phản biện]

Copyright 2004 American Economic Association ;Copyright American Economic Association Sep 2004 ;ISSN: 0002-8282 ;EISSN: 1944-7981 ;DOI: 10.1257/0002828042002570 ;CODEN: AENRAA

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Nhan đề:
Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach
Tác giả: Xavier Sala-i-Martin ; Doppelhofer, Gernot ; Miller, Ronald I.
Chủ đề: Bayesian analysis ; Bayesian method ; Censuses ; Economic growth ; Economic growth models ; Economic growth rate ; Economic models ; Economists ; Enrollments ; Estimates ; Estimating techniques ; Estimation ; Ethnolinguistics ; Gross domestic product ; Manycountries ; Population density ; Population education ; Population growth rate ; Regression analysis ; Socioeconomics ; Studies ; Variables
Là 1 phần của: The American economic review, 2004-09, Vol.94 (4), p.813-835
Mô tả: This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It introduces and employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates by averaging OLS coefficients across models. The weights given to individual regressions have a Bayesian justification similar to the Schwarz model selection criterion. Of 67 explanatory variables we find 18 to be significantly and robustly partially correlated with long-term growth and another three variables to be marginally related. The strongest evidence is for the relative price of investment, primary school enrollment, and the initial level of real GDP per capita.
Nơi xuất bản: Nashville: American Economic Association
Ngôn ngữ: English
Số nhận dạng: ISSN: 0002-8282
EISSN: 1944-7981
DOI: 10.1257/0002828042002570
CODEN: AENRAA
Nguồn: ProQuest Central

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Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach

Copyright 2004 American Economic Association ;Copyright American Economic Association Sep 2004 ;ISSN: 0002-8282 ;EISSN: 1944-7981 ;DOI: 10.1257/0002828042002570 ;CODEN: AENRAA

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