Bayesian Analysis of Haavelmo's Models
Haavelmo 模型的贝叶斯分析
In this paper, the exact posterior distributions of the parameters of Haavelmo's model I is derived for locally uniform prior distributions. Marginal distributions of the parameters have been obtained for Haavelmo's data. Then the predictive probability density of the model is derived for given values of the exogenous variable, investment. In order to check some of the specifying assumptions, the model is expanded and analyzed under the assumption that the error terms are…