## A Bayesian Approach to Model Uncertainty

_IMF Working Papers, April 1, 2004_

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## Bibliographic details
- Authors: Charalambos G Tsangarides
- Published: April 1, 2004
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451849028.001

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### Methodological contribution
- Develops the theoretical background for the Limited Information Bayesian Model Averaging (LIBMA).
- Accounts for model uncertainty by averaging over all possible combinations of predictors when making inferences about the variables of interest.
- Simultaneously addresses biases associated with endogenous and omitted variables by incorporating a panel data systems Generalized Method of Moments estimator.
- Discusses practical implementation and testing procedures for the developed methodology.

### Applications and empirical focus
- Practical applications include testing for the robustness of explanatory variables in analyses of the determinants of economic growth and poverty.
- Relevant subject areas listed: Agroindustries, Bayesian models, Estimation techniques.
- Keywords provided: least squares, WP.

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/30/a-bayesian-approach-to-model-uncertainty-17300_