A Quasi-Bayesian Analysis of Structural Breaks: China's Output and Productivity Series
Xiaoming Li
Abstract
Xiaoming Li
Abstract
A quasi-Bayesian model selection approach is employed to detect the number and dates of structural changes in China's GDP and labour productivity data. It is shown that the predictive likelihood information criterion is valid only among models with well-behaved residuals.
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A quasi-Bayesian model selection approach is employed to detect the number and dates of structural changes in China's GDP and labour productivity data. It is shown that the predictive likelihood information criterion is valid only among models with well-behaved residuals.
Key concepts: Productivity, Econometrics, Bayesian probability, Economics, Series (stratigraphy), China, Bayesian information criterion, Maximum likelihood