Growth Regressions, Principal Components and Frequentist Model Averaging

Wagner, Martin and Hlouskova, Jaroslava (March 2009) Growth Regressions, Principal Components and Frequentist Model Averaging. IHS Economics Series 236

[img]
Preview
Text
es-236.pdf

Download (386kB) | Preview

Abstract or Table of Contents

Abstract: This paper offers two innovations for empirical growth research. First, the paper discusses principal components augmented regressions to take into account all available information in well-behaved regressions. Second, the paper proposes a frequentist model averaging framework as an alternative to Bayesian model averaging approaches. The proposed methodology is applied to three data sets, including the Sala-i-Martin et al. (2004) and Fernandez et al. (2001) data as well as a data setof the European Union member states' regions. Key economic variables are found to be significantly related to economic growth. The findings highlight the relevance of the proposed methodology for empirical economic growth research.;

Item Type: IHS Series
Keywords: 'Frequentist model averaging' 'Growth regressions' 'Principal components'
Classification Codes (e.g. JEL): C31, C52, O11, O18, O47
Status: Published
Date Deposited: 26 Sep 2014 10:38
Last Modified: 25 Jul 2017 07:23
URI: http://irihs.ihs.ac.at/id/eprint/1907

Actions (login required)

View Item View Item