Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/130625 
Autor:innen: 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Working Paper No. 2015-15
Verlag: 
Federal Reserve Bank of Atlanta, Atlanta, GA
Zusammenfassung: 
This note presents a nonparametric Bayesian approach to fitting a distribution to the survey data provided in Kilian and Zha (2002) regarding the prior for the half-life of deviations from purchasing power parity (PPP). A point mass at infinity is included. The unknown density is represented as an average of shape-restricted Bernstein polynomials, each of which has been skewed according to a preliminary parametric fit. A sparsity prior is adopted for regularization.
Schlagwörter: 
nonparametric Bayesian estimation
Bernstein polynomials
simplex regression
importance sampling
PPP half-life deviations
JEL: 
C11
C14
F31
Dokumentart: 
Working Paper

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