This paper develops a multiway analysis of variance for non-Gaussian multivariate distributions and provides a practical simulation algorithm to estimate the corresponding components of variance. It specifically addresses variance in Bayesian predictive distributions, showing that it may be...

This paper surveys the fundamental principles of subjective Bayesian inference in econometrics and the implementation of those principles using posterior simulation methods. The emphasis is on the combination of models and the development of predictive distributions. Moving beyond conditioning...

The article provides detailed and accurate illustrations of Bayesian analysis of DSGE models that are likely to be used increasingly in support of central bank policy making. These comments identify a dozen aspects of these methods, discussing how their application and improvement can contribute...