Fernandez, Carmen; Ley, Eduardo; Steel, Mark F. J. - In: Journal of Applied Econometrics 16 (2001) 5, pp. 563-576
We investigate the issue of model uncertainty in cross-country growth regressions using Bayesian Model Averaging (BMA). We find that the posterior probability is spread widely among many models, suggesting the superiority of BMA over choosing any single model. Out-of-sample predictive results...