Jointness of growth determinants: Reply to comments by Rodney Strachan,Eduardo Ley and Mark F.J. Steel |
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| Authors: | Gernot Doppelhofer Melvyn Weeks |
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| Institution: | 1. Department of Economics, Norwegian School of Economics and Business Administration, Bergen, Norway;2. Faculty of Economics and Clare College, University of Cambridge, Cambridge, UK |
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| Abstract: | This comment contrasts the jointness statistics proposed by Doppelhofer and Weeks ( 2009 ) with alternatives proposed by Strachan ( 2009 ) and Ley and Steel ( 2007 ). In contrast to the alternatives, our jointness statistic constitutes a formal test for dependence over the joint posterior distribution. The essential difference between our proposed measure and the alternatives is that our jointness measures uses the entire joint posterior distribution. We discuss differences in jointness, as well as inclusion and exclusion margins of the joint posterior distribution, and the impact on economic significance using the numerical examples given by Strachan ( 2009 ) and Ley and Steel ( 2009 ). Copyright © 2009 John Wiley & Sons, Ltd. |
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