The full Bayesian treatment of error component models typically relies on data augmentation to produce the required … illustrated. -- Bayesian panel regression ; parametric covariance ; model selection …

-varying whereas the correlation remain constant over time. Under the parameterized alternative hypothesis the variance may change …

efficiency of the financial system, measured by the level of monitoring costs, affects the extent of risk sharing within an … projects is concentrated in few individuals and firm shocks are idiosyncratic, the risk premium is likely to rise with the … amount of funds firms demand. As a consequence, keeping constant the level of opacity and risk, firms with better growth …