Growth econometrics for agnostics and true believers

James Rockey, Jonathan Temple*

*Corresponding author for this work

Research output: Contribution to journalArticle (Academic Journal)

11 Citations (Scopus)

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.

Original languageEnglish
Pages (from-to)86-102
Number of pages17
JournalEuropean Economic Review
Volume81
Early online date25 Jun 2015
DOIs
Publication statusPublished - 1 Jan 2016

Bibliographical note

Date of Acceptance: 21/05/2015

Keywords

  • Bayesian Model Averaging
  • Growth econometrics
  • Growth regressions

Fingerprint Dive into the research topics of 'Growth econometrics for agnostics and true believers'. Together they form a unique fingerprint.

  • Cite this