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Title: Growth Econometrics for Agnostics and True Believers
Authors: Rockey, James
Temple, Jonathan
First Published: 25-Jun-2015
Publisher: Elsevier
Citation: European Economic Review 2016, 81, 86–102
Abstract: 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.
DOI Link: 10.1016/j.euroecorev.2015.05.010
ISSN: 0014-2921
Version: Post-print
Status: Peer-reviewed
Type: Journal Article
Rights: Creative Commons Attribution - NonCommercial - NoDerivs 4.0 (CC BY-NC-ND 4.0)
Description: JEL codes: C51, O40, O47
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Appears in Collections:Published Articles, Dept. of Economics

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