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|Title:||Growth Econometrics for Agnostics and True Believers|
|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.|
|Embargo on file until:||25-Jun-2017|
|Rights:||Creative Commons Attribution - NonCommercial - NoDerivs 4.0 (CC BY-NC-ND 4.0) https://creativecommons.org/licenses/by-nc-nd/4.0/|
|Description:||JEL codes: C51, O40, O47|
The file associated with this record is under embargo until 24 months after publication, in accordance with the publisher's self-archiving policy. The full text may be available through the publisher links provided above.
|Appears in Collections:||Published Articles, Dept. of Economics|
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|dp15656.pdf||Post-review (final submitted)||466.57 kB||Adobe PDF||View/Open|
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