Introduction to Modern Bayesian Econometrics / Edition 1

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Overview

In this new and expanding area, Tony Lancaster’s text is the first comprehensive introduction to the Bayesian way of doing applied economics.

  • Uses clear explanations and practical illustrations and problems to present innovative, computer-intensive ways for applied economists to use the Bayesian method;
  • Emphasizes computation and the study of probability distributions by computer sampling;
  • Covers all the standard econometric models, including linear and non-linear regression using cross-sectional, time series, and panel data;
  • Details causal inference and inference about structural econometric models;
  • Includes numerical and graphical examples in each chapter, demonstrating their solutions using the S programming language and Bugs software
  • Supported by online supplements, including Data Sets and Solutions to Problems, at www.blackwellpublishing.com/lancaster
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Editorial Reviews

From the Publisher
“This book conveys the revolution in Bayesian statisticsbrought about by modern computing and simulation methods from aperspective that econometricians will find familiar. It worksthrough the implications for econometric practice using practicalexamples and accessible computer software. Graduate students ineconomics will find it highly accessible. Practitioners steeped inclassical econometric methods will find much that is new, exciting,and useful here as well.” John Geweke, University ofIowa

“Lancaster's text gives an impressive overview of theBayesian point of view, and should prove a valuable resource toeconometricians of all persuasions.” Werner Ploberger,University of Rochester

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Product Details

  • ISBN-13: 9781405117203
  • Publisher: Wiley
  • Publication date: 6/28/2004
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 416
  • Product dimensions: 9.69 (w) x 7.44 (h) x 0.85 (d)

Meet the Author

Tony Lancaster is Herbert H. Goldberger Professor of Economics and Professor of Community Health at Brown University. He is the author of The Econometric Analysis of Transition Data (1990), an Econometric Society Monograph.

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Table of Contents

Introduction.

1. The Bayesian Algorithm.

2. Prediction and Model Checking.

3. Linear Regression.

4. Bayesian Calculations.

5. Nonlinear Regression Models.

6. Randomized, Controlled and Observational Data.

7. Models for Panel Data.

8. Instrumental Variables.

9. Some Time Series Models.

Appendix 1: A Conversion Manual.

Appendix 2: Programming.

Appendix 3: BUGS.

Index

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