We study the application of approximate mean field variational inference algorithms to Bayesian panel VAR models in which an exchangeable prior is placed on the dynamic parameters and the residuals follow either a Gaussian or a Student-t distribution. This reduces the estimation time of possibly...

The purpose of this paper is to estimate the relationship among a primary set of economic variables, including two types of monetary aggregates: simple sum M2 and credit-card-augmented Divisia inside money services. The importance of that comparison has grown as the use of credit cards in...

The research employs Bayesian Vector Autoregressions with hierarchical priors to analyze the intricate economic implications of fiscal policy shocks on inflation, monetary policy, and fiscal authorities in the context of South Africa. The study explores data spanning from 1979 to 2022. Contrary...

We study the role of heterogeneous preferences at the spousal level and that of spousal mutual insurance against wage shocks for couples’ labor supply in a time-use model. We estimate the model for couples in the German Time-Use Survey with Bayesian techniques and generate gender-specific...