Growth econometrics for agnostics and true believers
Research output: Contribution to journal › Article › peer-review
Standard
Growth econometrics for agnostics and true believers. / Rockey, James; Temple, Jonathan.
In: European Economic Review, Vol. 81, 01.01.2016, p. 86-102.Research output: Contribution to journal › Article › peer-review
Harvard
APA
Vancouver
Author
Bibtex
}
RIS
TY - JOUR
T1 - Growth econometrics for agnostics and true believers
AU - Rockey, James
AU - Temple, Jonathan
PY - 2016/1/1
Y1 - 2016/1/1
N2 - The issue of model uncertainty is central to the empirical study of economic growth. Many recent papers use Bayesian Model Averaging to address model uncertainty, but (Ciccone and Jarociński, 2010) have questioned the approach on theoretical and empirical grounds. They argue that a standard 'agnostic' approach is too sensitive to small changes in the dependent variable, such as those associated with different vintages of the Penn World Table (PWT). This paper revisits their theoretical arguments and empirical illustration, drawing on more recent vintages of the PWT, and introducing an approach that limits the degree of agnosticism.
AB - The issue of model uncertainty is central to the empirical study of economic growth. Many recent papers use Bayesian Model Averaging to address model uncertainty, but (Ciccone and Jarociński, 2010) have questioned the approach on theoretical and empirical grounds. They argue that a standard 'agnostic' approach is too sensitive to small changes in the dependent variable, such as those associated with different vintages of the Penn World Table (PWT). This paper revisits their theoretical arguments and empirical illustration, drawing on more recent vintages of the PWT, and introducing an approach that limits the degree of agnosticism.
KW - Bayesian Model Averaging
KW - Growth econometrics
KW - Growth regressions
UR - http://www.scopus.com/inward/record.url?scp=84953637845&partnerID=8YFLogxK
U2 - 10.1016/j.euroecorev.2015.05.010
DO - 10.1016/j.euroecorev.2015.05.010
M3 - Article
AN - SCOPUS:84953637845
VL - 81
SP - 86
EP - 102
JO - European Economic Review
JF - European Economic Review
SN - 0014-2921
ER -