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Gernot Doppelhofer, Norwegian School of Economics and Business Administration Print
Wednesday, 05 October 2011, 16:00 - 17:15

Gernot Doppelhofer, Norwegian School of Economics and Business Administration

Robust Growth Determinants

Abstract:

This paper investigates the robustness of determinants of economic growth
in the presence of model uncertainty, parameter heterogeneity and outliers.
The robust model averaging approach introduced in the paper uses a flexible
and parsimonious mixture modeling that allows for fat-tailed errors compared
to the normal benchmark case. Applying robust model averaging to growth
determinants, the paper finds that eight out of eighteen variables found to be
significantly related to economic growth by Sala-i-Martin et al. (2004)
are sensitive to deviations from benchmark model averaging.
The paper identifies important outliers -- most notably Botswana -- in
cross-sectional models of economic growth.

Location: R42.2.113
Contact: Claude Adan, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

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