A Bayesian analysis of the linear regression model with only parts of the prior distribution specified or a robust Bayesian analysis lead to sets of posterior distributions. E. E. Leamer (1978) describes the region of posterior means for conjugate priors and varying prior covariance matrices. As...

A VAR-GARCH-M model for aggregate employment and employment shares isdeveloped to explore the macroeconomic effects of sectoral shocks. Using U.S.,U.K. and German data, three main issues are investigated: the relevance ofshocks volatility; the amount of aggregate employment growth...