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Parameter heterogeneity in growth regressions

✍ Scribed by David R. Hineline


Book ID
116422090
Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
441 KB
Volume
101
Category
Article
ISSN
0165-1765

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## Abstract We investigate the issue of model uncertainty in cross‐country growth regressions using Bayesian Model Averaging (BMA). We find that the posterior probability is spread widely among many models, suggesting the superiority of BMA over choosing any single model. Out‐of‐sample predictive r