Esther Ruiz, Neil Shephard, Mark Steel, Yvo Steyn, The Associate
######## # In this paper, we make use of state space models to investigate the presence of stochastic trends in economic time series. A model is specied where such a trend can enter either in the...
Alternative efficiency measures for multipleoutput production (2005)
Carmen Fernández, Gary Koop, Mark Steel
This paper has two main purposes. Firstly, we develop various ways of defining efficiency in the case of multiple-output production. Our framework extends a previous model by allowing for...
Djukanovic, Ratko, Wilson, SusanJ., Kraft, Monica, Jarjour, Nizar N., Steel, Mark, Chung, K. Fan, ...
IgE plays an important role in allergic asthma. We hypothesized that reducing IgE in the airway mucosa would reduce airway inflammation. Forty-five patients with mild to moderate persistent asthma...
Model uncertainty in cross-country growth regressions
Carmen Fernandez, Eduardo Ley, Mark Steel
We investigate the issue of model uncertainty in cross-country growth regressions using Bayesian Model Averaging (BMA). We find that the posterior probability is very spread among many models...
Bayesian Modelling of Catch in a Northwest Atlantic Fishery
Carmen Fernandez, Eduardo Ley, Mark Steel
We model daily catches of fishing boats in the Grand Bank fishing grounds. We use data on catches per species for a number of vessels collected by the European Union in the context of the Northwest...
Bayesian Stochastic Frontier Analysis Using WinBUGS
Markov chain Monte Carlo (MCMC) methods have become a ubiquitous tool in Bayesian analysis. This paper implements MCMC methods for Bayesian analysis of stochastic frontier models using the WinBUGS...
Model uncertainty in cross-country growth regressions
Carmen Fernandez, Eduardo Ley, Mark Steel
We investigate the issue of model uncertainty in cross-country growth regressions using Bayesian Model Averaging (BMA). We find that the posterior probability is very spread among many models...
The scope of exact analytical results in Bayesian econometrics is known to be quite limited. It is, however, shown here to be broader than the simple natural-conjugare framework. Restricting the...
Bayesian analysis of stochastic volatility models with flexible tails
An alternative distributional assumption is proposed for the stochastic volatility model. This results in extremely flexible tail behaviour of the sampling distribution for the observables, as well...
Exclusion restrictions in instrumental variables equations
In this paper we consider two-stage estimators of parameters of a structural equation in a model with recursive exclusion restrictions on the instrumental variables equations. The estimations...
Bayesian stochastic frontier analysis using WinBUGS
Markov chain Monte Carlo (MCMC) methods have become a ubiquitous tool in Bayesian analysis. This paper implements MCMC methods for Bayesian analysis of stochastic frontier models using the WinBUGS...
We have just averaged over two trillion cross-country growth regressions
Carmen Fernandez, Eduardo Ley, Mark Steel
We investigate the issue of model uncertainty in cross-country growth regressions using Bayesian model averaging (BMA). We find that the posterior probability is very spread among many models...
Reference priors for non-Normal two-sample problems
Behrens-Fisher problem, Fieller-Creasy problem, Gibbs sampling, Jeffreys' prior, location-scale model, posterior existence, product of means, scale mixtures of Normals, skewness, 62F15,