
BITESIZE | Exploring Dynamic Regression Models, with David Kohns
Learning Bayesian Statistics
00:00
Modeling Economic Variables through Joint Regression Techniques
This chapter explores the intricacies of using vector autoregressive models for economic variables such as inflation and GDP, highlighting the need for joint modeling to understand correlations. It also discusses the importance of model selection and the role of priors in improving prediction accuracy amid complex variable interactions.
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