Robust growth determinants

Research, Preprint English OPEN
Doppelhofer, Gernot; Weeks, Melvyn;
(2011)
  • Publisher: Norwegian School of Economics and Business Administration. Department of Economics
  • Related identifiers: doi: 10.17863/CAM.987, doi: 10.17863/CAM.5223
  • Subject: C52 | C11 | Wirtschaftswachstum | outliers | O50 | Sozialprodukt | determinants of economic growth | Modell-Spezifikation | Determinants of Economic Growth; Robust Model Averaging; Heteroscedasticity; Outliers; Mixture models. | Messung | Welt | C21 | robust model averaging | O20 | determinants of economic growth, robust model averaging, heteroscedasticity, outliers, mixture models | heteroscedasticity | O47 | Bayes-Statistik | mixture models
    • jel: jel:C21 | jel:O50 | jel:C11 | jel:C52 | jel:O47 | jel:O20
      ddc: ddc:330

This paper investigates the robustness of determinants of economic growth in the presence of model uncertainty, parameter heterogeneity and outliers. The robust model averaging approach introduced in the paper uses a flexible and parsi- monious mixture modeling that all... View more
  • References (26)
    26 references, page 1 of 3

    A Computational Appendix 25 A.1 Random and Strati¯ed Sampling . . . . . . . . . . . . . . . . . . . . . . 25 A.2 Gibbs Sampling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 A.3 Robust Posterior Estimates and Numerical Convergence Criteria . . . . 27 5One variant of this approach, so-called Bagging (short for Bootstrap Aggregating) is used to generate robust predictions accounting for data problems (see Breiman, 1996; Clyde and Lee, 2001).

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