Bacchiocchi, Emanuele; Kitagawa, Toru - 2022 - This draft: 5 April 2022
analysis accordingly. For Bayesians, the lack of global identification translates to non-vanishing sensitivity of the posterior … to the prior, and the multi-modal likelihood gives rise to computational challenges as posterior sampling algorithms can … structural parameters given reduced-form parameters and utilize them to sample from the multi-modal posterior. In addition …