A Review of the `BMS' Package for R

Shahram Amini and Christopher Parmeter
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Shahram Amini: Department of Economics, Virginia Polytechnic Institute and State University

No 2011-8, Working Papers from University of Miami, Department of Economics

Abstract: This paper describes the relative merits and attractiveness of the newest Bayesian model averaging package, BMS, available in the statistical software R to implement a Bayesian model averaging exercise. This package provides the user with a wide range of customizable priors for conducting a BMA analysis, provides ample graphs to visualize the results and offers several alternative model search mechanisms.

Keywords: Model Averaging; Zellner's g Prior; BMS (search for similar items in EconPapers)
JEL-codes: C87 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2011
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Citations: View citations in EconPapers (2)

Forthcoming: Working

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https://www.herbert.miami.edu/_assets/files/repec/wp2011-8.pdf First version, 2011 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:mia:wpaper:2011-8

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