Table 3

Results from Metropolis-Hastings (parameters)

PriorPosterior
DistParam. 1Param. 2MeanStdevHPD infHPD sup
ρrbeta0.5000.20000.1380.07730.01520.2512
ρATbeta0.5000.20000.6810.15230.46150.8968
ρANbeta0.5000.20000.7630.10050.62030.8977
ρACbeta0.5000.20000.6260.16940.37730.8872
ϕTgamm10.0005.000027.0916.149817.166636.8822
ϕNgamm10.0005.000026.4136.071516.614636.1145
ϕCMgamm10.0005.000021.9065.805612.268730.8925
ηTgamm2.0001.00001.7030.80750.45972.8967
ηNgamm2.0001.00002.8231.13840.99814.6068
ηCMgamm2.0001.00001.9500.98550.46593.3853
ιTgamm10.0005.00003.2472.21320.42586.2257
ιNgamm10.0005.00007.7093.73692.016913.5069
ιCgamm10.0005.000014.1705.57275.259022.5931

Note(s): Posterior statistics are generated using 2 millions draws from the posterior distribution. For uniform prior distributions, “Param. 1” and “Param. 2” refer to the lower and upper bound of the support of the distribution, respectively. For Beta, Gamma and Inverse Gamma distributions, they refer to the mean and standard deviation, respectively

Source(s): Prepared by the authors

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