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Bayesian Averaging over Many Dynamic Model Structures with Evidence on the Great Ratios and Liquidity Trap Risk

Strachan, Rodney W.; van Dijk, Herman K. - 2008

volatility in the disturbances. The risk of a liquidity trap in the U.S.A. and Japan is evaluated. Although this risk found to be …

Persistent link: https://www.econbiz.de/10010325721

Evidence on a Real Business Cycle Model with Neutral and Investment-Specific Technology Shocks using Bayesian Model Averaging

Strachan, Rodney W.; van Dijk, Herman K. - 2010

) processes. The linear VAR model is extendedto permit cointegration, a range of deterministic processes, equilibrium restrictions …

Persistent link: https://www.econbiz.de/10010326026

Reexamining the consumption-wealth relationship: The role of model uncertainty

Koop, Gary M.; Potter, Simon M.; Strachan, Rodney W. - 2005

In their influential work on the consumption-wealth relationship, Lettau and Ludvigson found that while consumption responds to permanent changes in wealth in the expected manner, most changes in wealth are transitory with no effect on consumption. We investigate the robustness of these results...

Persistent link: https://www.econbiz.de/10010283401