- Tytuł:
- A Bayesian Approach to Matrix Balancing: Transformation of Industry-Level Data under NACE Revision
- Autorzy:
- Boratyński, Jakub
- Powiązania:
- https://bibliotekanauki.pl/articles/2076451.pdf
- Data publikacji:
- 2016
- Wydawca:
- Polska Akademia Nauk. Czytelnia Czasopism PAN
- Tematy:
-
matrix balancing
Bayesian inference
NACE revision
transformation matrix
multi-sector modelling - Opis:
- We apply Bayesian inference to estimate transformation matrix that converts vector of industry outputs from NACE Rev. 1.1 to NACE Rev. 2 classification. In formal terms, the studied issue is a representative of the class of matrix balancing (updating, disaggregation) problems, often arising in the field of multi- sector economic modelling. These problems are characterised by availability of only partial, limited data and a strong role for prior assumptions, and are typically solved using bi-proportional balancing or cross-entropy minimisation methods. Building on Bayesian highest posterior density formulation for a similarly structured case, we extend the model with specification of prior information based on Dirichlet distribution, as well as employ MCMC sampling. The model features a specific likelihood, representing accounting restrictions in the form of an underdetermined system of equations. The primary contribution, compared to the alternative, widespread approaches, is in providing a clear account of uncertainty.
- Źródło:
-
Central European Journal of Economic Modelling and Econometrics; 2016, 4; 219-239
2080-0886
2080-119X - Pojawia się w:
- Central European Journal of Economic Modelling and Econometrics
- Dostawca treści:
- Biblioteka Nauki
Artykuł