Journal
JOURNAL OF MACROECONOMICS
Volume 29, Issue 3, Pages 476-493Publisher
LOUISIANA STATE UNIV PR
DOI: 10.1016/j.jmacro.2006.12.002
Keywords
Bayesian model averaging; complements; model uncertainty; posterior odds; substitutes
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We present a measure of jointness to explore dependence among regressors, in the context of Bayesian model selection. The jointness measure proposed here equals the posterior odds ratio between those models that include a set of variables and the models that only include proper subsets. We illustrate its application in cross-country growth regressions using two datasets from the model-averaging growth literature. (c) 2007 Elsevier Inc. All rights reserved.
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