Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (Bace) Approach
This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included variab...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2000
|
| Series: | OECD Economics Department Working Papers
|
| Subjects: | |
| Online Access: | Volltext |
| Summary: | This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included variables. The weights applied to individual regressions are justified on Bayesian grounds in a way similar to the well-known Schwarz criterion. Of 32 explanatory variables we find 11 to be robustly partially correlated with long-term growth and another five variables to be marginally related. Of all the variables considered, the strongest evidence is for the initial level of real GDP per capita ... |
| Physical Description: | 1 Online-Ressource (44 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/834681262223 |
Staff View
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047937470 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2000 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/834681262223 |2 doi | |
| 035 | |a (ZDB-13-SOC)061238732 | ||
| 035 | |a (OCoLC)1312689399 | ||
| 035 | |a (DE-599)BVBBV047937470 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Doppelhofer, Gernot |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Determinants of Long-Term Growth |b A Bayesian Averaging of Classical Estimates (Bace) Approach |c Gernot Doppelhofer, Ronald I. Miller and Xavier Sala-i-Martin |
| 264 | 1 | |a Paris |b OECD Publishing |c 2000 | |
| 300 | |a 1 Online-Ressource (44 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included variables. The weights applied to individual regressions are justified on Bayesian grounds in a way similar to the well-known Schwarz criterion. Of 32 explanatory variables we find 11 to be robustly partially correlated with long-term growth and another five variables to be marginally related. Of all the variables considered, the strongest evidence is for the initial level of real GDP per capita ... | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Miller, Ronald I... |4 ctb | |
| 700 | 1 | |a Sala-i-Martin, Xavier |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/834681262223 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033318964 | |
Record in the Search Index
| _version_ | 1818806116181606400 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Doppelhofer, Gernot |
| author2 | Miller, Ronald I.. Sala-i-Martin, Xavier |
| author2_role | ctb ctb |
| author2_variant | r i m ri rim x s i xsi |
| author_facet | Doppelhofer, Gernot Miller, Ronald I.. Sala-i-Martin, Xavier |
| author_role | aut |
| author_sort | Doppelhofer, Gernot |
| author_variant | g d gd |
| building | Verbundindex |
| bvnumber | BV047937470 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061238732 (OCoLC)1312689399 (DE-599)BVBBV047937470 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/834681262223 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047937470</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2000 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/834681262223</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061238732</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312689399</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047937470</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Doppelhofer, Gernot</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Determinants of Long-Term Growth</subfield><subfield code="b">A Bayesian Averaging of Classical Estimates (Bace) Approach</subfield><subfield code="c">Gernot Doppelhofer, Ronald I. Miller and Xavier Sala-i-Martin</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2000</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (44 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included variables. The weights applied to individual regressions are justified on Bayesian grounds in a way similar to the well-known Schwarz criterion. Of 32 explanatory variables we find 11 to be robustly partially correlated with long-term growth and another five variables to be marginally related. Of all the variables considered, the strongest evidence is for the initial level of real GDP per capita ...</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Miller, Ronald I...</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Sala-i-Martin, Xavier</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/834681262223</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033318964</subfield></datafield></record></collection> |
| id | DE-604.BV047937470 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:07Z |
| indexdate | 2024-12-18T19:04:39Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033318964 |
| oclc_num | 1312689399 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (44 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2000 |
| publishDateSearch | 2000 |
| publishDateSort | 2000 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Doppelhofer, Gernot Verfasser aut Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach Gernot Doppelhofer, Ronald I. Miller and Xavier Sala-i-Martin Paris OECD Publishing 2000 1 Online-Ressource (44 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included variables. The weights applied to individual regressions are justified on Bayesian grounds in a way similar to the well-known Schwarz criterion. Of 32 explanatory variables we find 11 to be robustly partially correlated with long-term growth and another five variables to be marginally related. Of all the variables considered, the strongest evidence is for the initial level of real GDP per capita ... Economics Miller, Ronald I... ctb Sala-i-Martin, Xavier ctb https://doi.org/10.1787/834681262223 Verlag kostenfrei Volltext |
| spellingShingle | Doppelhofer, Gernot Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach Economics |
| title | Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach |
| title_auth | Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach |
| title_exact_search | Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach |
| title_exact_search_txtP | Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach |
| title_full | Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach Gernot Doppelhofer, Ronald I. Miller and Xavier Sala-i-Martin |
| title_fullStr | Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach Gernot Doppelhofer, Ronald I. Miller and Xavier Sala-i-Martin |
| title_full_unstemmed | Determinants of Long-Term Growth A Bayesian Averaging of Classical Estimates (Bace) Approach Gernot Doppelhofer, Ronald I. Miller and Xavier Sala-i-Martin |
| title_short | Determinants of Long-Term Growth |
| title_sort | determinants of long term growth a bayesian averaging of classical estimates bace approach |
| title_sub | A Bayesian Averaging of Classical Estimates (Bace) Approach |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/834681262223 |
| work_keys_str_mv | AT doppelhofergernot determinantsoflongtermgrowthabayesianaveragingofclassicalestimatesbaceapproach AT millerronaldi determinantsoflongtermgrowthabayesianaveragingofclassicalestimatesbaceapproach AT salaimartinxavier determinantsoflongtermgrowthabayesianaveragingofclassicalestimatesbaceapproach |