The paper introduces “system priors”, their use in Bayesian analysis of econometric time series, and provides a simple and illustrative application. System
There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain p
Bayesian Multivariate Time Series Methods for Empirical Macroeconomics provides a survey of the Bayesian methods used in modern empirical macroeconomics. These
The book describes and illustrates many advances that have taken place in a number of areas in theoretical and applied econometrics over the past four decades.