It takes the average reader and 26 minutes to read System Priors by Michal Andrle
Assuming a reading speed of 250 words per minute. Learn more
This paper proposes a novel way of formulating priors for estimating economic models. System priors are priors about the model's features and behavior as a system, such as the sacrifice ratio or the maximum duration of response of inflation to a particular shock, for instance. System priors represent a very transparent and economically meaningful way of formulating priors about parameters, without the unintended consequences of independent priors about individual parameters. System priors may complement or also substitute for independent marginal priors. The new philosophy of formulating...
System Priors by Michal Andrle is 26 pages long, and a total of 6,656 words.
This makes it 9% the length of the average book. It also has 8% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 36 minutes to read System Priors aloud.
System Priors is suitable for students ages 8 and up.
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