Main description: Econometric models are widely used in the creation and evaluation of economic policy in the public and private sectors. But these models are useful only if they adequately account for the phenomena in question, and they can be quite misleading if they do not. In response,...

This handbook is aimed at researchers and policymakers wanting to learn about Bayesian methods in specialized fields, and for graduate students seeking to make the final step from textbook learning to the research frontier. It contains contributions by leading Bayesians on the latest...

Thanks and congratulations to all of the discussants for covering a wide array of important topics. Since space does not permit attention to all of the points that have been raise, this reply will concentrate on trying to dispell confusion on important matters that might remain.