De Pooter, Michiel; Ravazzolo, Francesco; Segers, Rene; … - Faculteit der Economische Wetenschappen, Erasmus … - 2008
Several lessons learnt from a Bayesian analysis of basic macroeconomic time series models are presented for the situation where some model parameters have substantial posterior probability near the boundary of the parameter region. This feature refers to near-instability within dynamic models,...