Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/107795
Authors: 
Basturk, Nalan
Cakmakli, Cem
Ceyhan, S. Pinar
van Dijk, Herman K.
Year of Publication: 
2014
Series/Report no.: 
Tinbergen Institute Discussion Paper 14-085/III
Abstract: 
This paper starts with a brief description of the introduction of the likelihood approach in econometrics as presented in Cowles Foundation Monographs 10 and 14. A sketch is given of the criticisms on this approach mainly from the first group of Bayesian econometricians. Publication and citation patterns of Bayesian econometric papers are analyzed in ten major econometric journals from the late 1970s until the first few months of 2014. Results indicate a cluster of journals with theoretical and applied papers, mainly consisting of <I>Journal of Econometrics</I>, <I>Journal of Business and Economic Statistics</I> and <I>Journal of Applied Econometrics</I> which contains the large majority of high quality Bayesian econometric papers. A second cluster of theoretical journals, mainly consisting of <I>Econometrica</I> and <I>Review of Economic Studies</I> contains few Bayesian econometric papers. The scientific impact, however, of these few papers on Bayesian econometric research is substantial. Special issues from the journals <I>Econometric Reviews</I>, <I>Journal of Econometrics</I> and <I>Econometric Theory</I> received wide attention. <I>Marketing Science</I> shows an ever increasing number of Bayesian papers since the middle nineties. The <I>International Economic Review</I> and the <I>Review of Economics and Statistics</I> show a moderate time varying increase. An upward movement in publication patterns in most journals occurs in the early 1990s due to the effect of the 'Computational Revolution'. More abstract in the paper.
Subjects: 
History
Bayesian Econometrics
JEL: 
B04
C01
Document Type: 
Working Paper

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