Temat: marginal - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: A Note on Lenk’s Correction of the Harmonic Mean Estimator
Autorzy:: Pajor, Anna
Osiewalski, Jacek
Powiązania:: https://bibliotekanauki.pl/articles/483355.pdf
Data publikacji:: 2013
Wydawca:: Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:: Bayesian inference
marginal data density
MCMC methods
Opis:: The paper refines Lenk’s concept of improving the performance of the computed harmonic mean estimator (HME) in three directions. First, the adjusted HME is derived from an exact analytical identity. Second, Lenk’s assumption concerning the appropriate subset A of the parameter space is significantly weakened. Third, it is shown that, under certain restrictions imposed on A, a fundamental identity underlying the HME also holds for improper prior densities, which substantially extends applicability of the adjusted HME.
Źródło:: Central European Journal of Economic Modelling and Econometrics; 2013, 5, 4; 271-275
2080-0886
2080-119X
Pojawia się w:: Central European Journal of Economic Modelling and Econometrics
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: Divergent Priors and Well Behaved Bayes Factors
Autorzy:: Strachan, Rodney W.
van Dijk, Herman K.
Powiązania:: https://bibliotekanauki.pl/articles/483279.pdf
Data publikacji:: 2014
Wydawca:: Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:: improper prior
Bayes factor
marginal likelihood
shrinkage prior
measure
Opis:: Bartlett’s paradox has been taken to imply that using improper priors results in Bayes factors that are not well defined, preventing model comparison in this case. We use well understood principles underlying what is already common practice, to demonstrate that this implication is not true for some improper priors, such as the Shrinkage prior due to Stein (1956). While this result would appear to expand the class of priors that may be used for computing posterior odds, we warn against the straightforward use of these priors. Highlighting the role of the prior measure in the behaviour of Bayes factors, we demonstrate pathologies in the prior measures for these improper priors. Using this discussion, we then propose a method of employing such priors by setting rules on the rate of diffusion of prior certainty.
Źródło:: Central European Journal of Economic Modelling and Econometrics; 2014, 1; 1-31
2080-0886
2080-119X
Pojawia się w:: Central European Journal of Economic Modelling and Econometrics
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: MPC out of Augmented Wealth in Poland
Autorzy:: Jabłonowski, Janusz
Powiązania:: https://bibliotekanauki.pl/articles/2075333.pdf
Data publikacji:: 2021
Wydawca:: Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:: marginal propensity to consume
crowding out private savings
augmented wealth
Opis:: The study attempts to link the descriptive economics with the theoretical model of permanent income and life cycle hypothesis (PILCH) to shed some light on a low private savings rate for Polish households. These may be explained by the households’ belief that the public pension are a collateral to borrow against, which could discourage the buffer stock effect. The study comprises two research fields: 1) the estimation of so called augmented wealth, and, 2) the marginal propensity to consume (MPC) out of different types of wealth with the permanent income model. The mean augmented wealth (i.e. net wealth plus public pension wealth) per household in PLN amounted to 705 thousands, consisting of public pension wealth of 388 thousands and net wealth of 415 thousands. The model perfectly matches the augmented wealth Lorenz curve. The average MPC out of all types of wealth reaches 10% on average, ranging 6–20%, with a negative MPC to wealth correlation, and 60% of hand-to-mouth households. The explanation for this perfect match may stem from a high wage growth (also public pension contributions wedge) that that builds the public pension wealth. The Ricardian-type households may then mentally account the future pensions as a collateral (fiduciary money) for current high MPC, which may implicate crowding out their propensity to save for retirement privately
Źródło:: Central European Journal of Economic Modelling and Econometrics; 2021, 3; 253-286
2080-0886
2080-119X
Pojawia się w:: Central European Journal of Economic Modelling and Econometrics
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: Impulse Response Functions in the Dynamic Stochastic General Equilibrium Vector Autoregression Model
Autorzy:: Wróbel-Rotter, Renata
Powiązania:: https://bibliotekanauki.pl/articles/2076473.pdf
Data publikacji:: 2016
Wydawca:: Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:: dynamic stochastic general equilibrium vector autoregression
DSGE-VAR
impulse response functions
marginal data density
Opis:: The model considered in the paper is defined as VAR with the prior distribution for parameters generated by the dynamic stochastic general equilibrium (DSGE) model. The degree of economic restrictions in the DSGE- VAR model is controlled by the weighting parameter. In the paper there is investigated the impact of the weighting parameter prior specifications for the posterior shape of impulse response functions (IRFs). In case of conditional models the paths of IRFs highly depend on the value of the weighting parameter that is set arbitrary. When considering full estimation with different prior types, means and gradual change in the dispersion the posterior time paths of IRFs are similar in models with high values of the marginal data densit
Źródło:: Central European Journal of Economic Modelling and Econometrics; 2016, 2; 93-114
2080-0886
2080-119X
Pojawia się w:: Central European Journal of Economic Modelling and Econometrics
Dostawca treści:: Biblioteka Nauki

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