The independent German research organization "Institute for Banking and Financial History" was founded in 1969 as "Institute for historical research on banks". Its origins were a small institution which were not much more than a One-Man-Show by the banking journalist Erich Achterberg. With the...

We compare sparse and dense representations of predictive models in macroeconomics, microeconomics, and finance. To deal with a large number of possible predictors, we specify a prior that allows for both variable selection and shrinkage. The posterior distribution does not typically concentrate...