False posteriors for the long-term growth determinants

Wojciech Charemza, Rodney Strachan and Piotr Zurawski

Economics Letters, 2010, vol. 109, issue 3, 144-146

Abstract: This paper shows: (1) bias may exist in Bayesian methods of selecting regressors; (2) the non-zero posterior inclusion probability of irrelevant regressors might affect the choice of regressors; and (3) how to compute the probability of falsely including a variable.

Keywords: Bayesian; averaging; Long-term; growth; Selection; of; determinants; Selection; bias (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:109:y:2010:i:3:p:144-146

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