; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "On Bayesian Routes to Unit Roots"; ; "batchuser@example.com"; "Van Dijk, Herman K.", "Schotman, Peter C."; "Federal Reserve Bank of Minneapolis"; "C12 - Hypothesis Testing: General", "C32 - Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models", "C11 - Bayesian Analysis: General"; "This paper is a comment on P.C.B. Phillips, “To criticise the critics: an objective Bayesian analysis of stochastic trends” [Phillips (1990)]. Departing from the likelihood of an univariate autoregressive model different routes that lead to a posterior odds analysis of the unit root hypothesis are explored, where the differences in routes are due to the different choices of the prior. Improper priors like the uniform and the Jeffreys prior are less suited for Bayesian inference on a sharp null hypothesis as the unit root. A proper normal prior on the mean of the process is analyzed and empirical results using extended Nelson/Plosser data are presented. "^^; "1991-06-01"; "2019-05-21T18:50:35.82775449+00:00"^^; "https://doi.org/10.21034/dp.43"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Apr 22 16:43:29 2020"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "706", "806"; "Discussion paper (Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics)"; "043"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics"; "Published in: _Journal of Applied Econometrics_ (Vol. 6, No. 4, October/December 1991, pp. 387-401) https://doi.org/10.1002/jae.3950060407."^^; ; "Publication" . ; .