Hamilton, James D.; Owyang, Michael T. - 2009
. Implementing the algorithm for inference and likelihood evaluation in Hamilton
(1994, p. 692) would require calculation of an ( 1 …
population parameter k. Following Holmes and Held (2006), it is convenient for purposes of
the estimation algorithm to represent …
distribution and then generating nk conditional on nk will give the algorithm better convergence
properties. For the posterior …