Koop, Gary; Strachan, Rodney W.; Dijk, Herman K. van; … - 2005
noninformative prior can lead to a posterior distribution which is improper
(i.e. is not a valid p.d.f. since it does not integrate … applies (conditional on ). Furthermore, for partic-
ular speci�cations, the posterior distribution of conditional on … , , and
has a standard distribution (where = ( 1;::; k 1)). This suggests that a
posterior simulation method known as …