01730cas a2200277 a 4500 AALejournalIMF017249 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475555820 1018-5941 BD-DhAAL BD-DhAAL Andrle, Michal. System Priors for Econometric Time Series / Michal Andrle, Miroslav Plaail. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (18 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper introduces 'system priors', their use in Bayesian analysis of econometric time series, and provides a simple and illustrative application. System priors were devised by Andrle and Benes (2013) as a tool to incorporate prior knowledge into an economic model. Unlike priors about individual parameters, system priors offer a simple and efficient way of formulating well-defined and economically-meaningful priors about high-level model properties. The generality of system priors are illustrated using an AR(2) process with a prior that most of its dynamics comes from business-cycle frequencies. Mode of access: Internet Time Series imf WP imf Plaail, Miroslav. IMF Working Papers; Working Paper ; No. 2016/231 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/231/001.2016.issue-231-en.xml IMF e-Library