Showing 1 - 2 of 2
-form parameters, since the the prior does not, in general, depend on the data. We illustrate that this approach tends to produce …
Persistent link: https://www.econbiz.de/10012661969
Structural VAR models are routinely estimated by Bayesian methods. Several recent studies have voiced concerns about the common use of posterior median (or mean) response functions in applied VAR analysis. In this paper, we show that these response functions can be misleading because in...
Persistent link: https://www.econbiz.de/10014048816