اثر تکانۀ مخارج دولتی بر تولید ناخالص داخلی در ایران
الموضوعات : فصلنامه اقتصاد محاسباتی
1 - دانشجوی دانشگاه آزاد اسلامی واحد علوم و تحقیقات تهران
الکلمات المفتاحية: سیاست مالی, تعادل عمومی, تولید,
ملخص المقالة :
مخارج عمومی و نقش دولت به دلیل نگرش لسه‌فر تا رکود بزرگ دهۀ 1930م که کینز مفهوم مداخلۀ دولت در اقتصاد را از طریق استفاده از سیاست‌های پولی و مالی مطرح می‌کند، محدود بود. در این راستا، سیاست مالی از ابزارهای اصلی دستیابی به اهداف کلان اقتصادی است که شامل استفاده از مخارج دولتی و مالیات برای تأثیرگذاری بر تقاضای کل کالاها و خدمات است. براین‌اساس هدف این تحقیق بررسی اثر تکانۀ مخارج دولتی بر تولید ناخالص داخلی در ایران در قالب یک مدل تعادل عمومی پویای تصادفی است. نتایج حاصل از کالیبراسیون نشان می‌دهد که بروز تکانۀ مثبت مخارج دولتی به میزان یک درصد موجب افزایش تولید غیرنفتی، نرخ تورم، اشتغال و تولید ناخالص داخلی به ترتیب به میزان حدود 02/0، 001/0، 06/0 و 01/0 درصد و کاهش سرمایه‌گذاری و مصرف به ترتیب به میزان حدود 69/0 و 19/0 درصد در دورۀ جاری می‌شود. ضمن این‌که بروز تکانه‌های درآمد نفتی و فناوری موجب افزایش تولید ناخالص داخلی به ترتیب به میزان حدود 2/0 و 96/0 درصد می‌شوند. براین‌اساس، تکانۀ مخارج دولتی کمترین اثرگذاری را بر تولید ناخالص داخلی داشته و در مجموع اثرات وارده نیز تکانۀ فناوری دارای بهترین اثرگذاری است.
المصادر:
-Abdollah Milani, M., Bahrami, J., Tavakolian, H. and Akbarpur, N. (2018). The Impact of Tax Policy on the Underground Economy: DSGE Model. Economic Research, 23(76), 1-51. Retrieved from https://doi.org/10.22054/ijer.2018.9511/(In Persian)
- Ahmadi, S., Khezri, M., Zandi, F. and Safavi, B. (2024). investigating the effect of oil revenues on tax revenues realization under conditions of tax rent-seeking: DSGE Approach. Economic Policy, 16(32), 117-144. Retrieved from https://doi.org/10.22034/epj.2024.21083.2552/(In Persian)
- Akpan, U. F. and Atan, J. A. (2015). Macroeconomic Effects of Fiscal Policy Shock in Nigeria: A SVAR Approach. International Journal of Business and Economics Research, 4(3), 109-120. Retrieved from https://doi.org/ 10.11648/j.ijber.20150403.14/
- Amirali, M., bakhshi dastjerdi, R. and vaez barzani, M. (2023). The Real Effects of the Bank’s Function as a Creator of Liquidity Through Lending and Factitious Rollover of Non-Performing Loans Channels (DSGE Approach). Economic Research, 57(4), 583-628.Retrieved from https://doi.org/ 10.22059/jte.2023.92422/(In Persian)
- Amire, C. M. and Amire, P. O. (2020). Government Expenditure in Nigeria: An Evaluation. AE-FUNAI. Journal of Accounting Business and Finance, 6(1),178-186.
- Atems, B. (2019). The effects of government spending shocks: Evidence from US states. Regional Science and Urban Economics, 74, 65-80. Retrieved from https://doi.org/10.1016/j.regsciurbeco.2018.11.008/
- Babalola, A. I. (2015). Fiscal Policy and Economic Development in Nigeria. Journal of Economics and Sustainable Development, 6(7), 150-159. Retrieved from https://www.iiste.org/Journals/index.php/JEDS/article/view/21476/
- Beetsma, R. and Giuliodori, M. (2011). The effects of government purchases shocks: review and estimates for the EU. The Economic Journal, 121(550), 4-32. Retrieved fromhttps://doi.org/10.1111/j.1468-0297.2010.02413.x/
-Beltran, D. O. and Draper, D. (2008). Estimating the parameters of a small open economy DSGE model: Identifiability and inferential validity. FRB International Finance Discussion Paper, 955. Retrieved from http://dx.doi.org/10.2139/ssrn.1311887/
- Cebi, C. (2017). The government spending multiplier in Turkey. Emerging Markets Finance and Trade, 53(5), 1184-1198. Retrieved from
https://doi.org/10.1080/1540496X.2016.1174685/
-Chandana, A., Adamu, J. and Musa, A. (2020). Impact of government expenditure on economic growth in Nigeria, 1970 - 2019. CBN Journal of Applied Statistics (JAS), 11(2), 139-174. Retrieved from https://dc.cbn.gov.ng/jas/vol11/iss2/6/
- Choi, Y., and Kim, S. H. (2021). Understanding the effects of government spending in a time-inconsistent model. Economic Modelling, 98, 266-279. Retrieved fromhttps://doi.org/10.1016/j.econmod.2020.11.018/
-Dawkins, C., Srinivasan, T. N. and Whalley, J. (2001). Calibration. In Handbook of econometrics, 5, 3653-3703. Elsevier. Retrieved from https://ideas.repec.org/h/eee/ecochp/5-58.html/
- Duong, T., Vu, G., Nguyen, T. and Pham-Hi, D. (2016). Impacts of government spending shock on Vietnamese macroeconomic aggregate variables: DSGE and SVAR models. Communications in Mathematics and Applications, 7(4), 343-359. Retrieved from https://doi.org/ 10.26713/cma.v7i4.490/
- Eslamloueyan, k. and Tavakoli, H. (2020). The Effects of Government Expenditure Shocks on Input Efficiency and Consumer Preferences in Iran. Quantitative Economics ,17(3), 1-19. Retrieved from https://doi.org/10.22055/jqe.2020.24789.1814/(In Persian)
- Fathabadi, M., Haji, M. M. M. S., Mahmoudzadeh, M., and Qavidel, S. (2024). Uncertainty of government expenditure policy and economic activity in Iran. Financial Economics, 18(66), 483-504. Retrieved from https://doi.org/ 10.30495/fed.2024.709383/(In Persian)
- Hadian, M. and Dargahi, H. (2021). Macroeconomic effects of current and development expenditures of the government in Iran: DSGE approach. Quarterly Journal of Applied Theories of Economics, 8(1), 241-272. Retrieved from https://doi.org/ 10.22034/ecoj.2021.42007.2744/(In Persian)
- Hadian, E., Afshoon, H. A., Samadi, A., & Sadraei javaheri, A. (2020). Investigate the Effects of Public Expenditure on Macroeconomic Variables under a Balanced Budget Rule in Iran: a DSGE Approach. Journal of Economic Research and Policies, 27 (92) , 89-132. Retrieved from http://qjerp.ir/article-1-2531-en.html/(In Persian)
- Haghighat, J. and Moharam Joudi, N. (2017). Investigating The Effects Of Governmental Expenditure Shock on Gross Domestic Product Growth In Iran: Ardl Approach. Economic Modelling, 10(4), 141-166. (In Persian)
- HosseinZade, H. (2017). The Effects of Government Expenditure Shocks on Gross Domestic Product (GDP) in Iran. Quarterly Journal of The Macro and Strategic Policies, 5(17), 77-95. (In Persian)
- Jabbari, A. and Akbari, N. (2018). The Dynamic Effects of Fiscal Policy Shocks on the Variables of Production, Consumption and Private Sector Investment in IRAN. Macroeconomics Research Letter, 13(26), 79-100. Retrieved from https://doi.org/ 10.22080/iejm.2019.14444.1608/(In Persian)
- Keshtkaran, N., Behboudi, D. and Panahi, H. (2021). The Asymmetric Effects of Monetary Policy Shocks on the Residential Market of Iran:A DSGE Approach. Applied Theories of Economics, 7(4), 195-218. Retrieved from https://doi.org/ 10.22034/ecoj.2021.39757.2659/(In Persian)
- Khalilzadeh, J., Heidari, H. and Bashiri, S. (2020). The Effect of Government Expenditures and Banking Credits Volume Considering Monetary Policies on Economic Growth: DSGE Model (Case Study of Iran). Economic Growth and Development Research, 10(39), 75-92. Retrieved from https://doi.org/10.30473/egdr.2019.47760.5306/(In Persian)
- Tanzi, V. and Schuknecht, L. (2000). Public Spending in the 20th Century. Cambridge University Press. Retrieved from https://doi.org/10.1017/CBO9780511625800/
- Maddah, M. and Samiei, N. (2019). The Effect of Financial and Monetary Shocks on the Iranian Taxation System along with Determining Optimal Tax Rates of Consumption, Salary and Wages (General Equilibrium Approach using Genetic Algorithm). Tax Research, 25 (36),177-210. (In Persian)
- Mahmoudinia, D. And Jafari, S. (2024). The Welfare Cost of Inflation in a Steady State: An Application of Various Utility Functions in the Sidrauski Model. Fiscal and Economic Policies, 11(44), 7-51. Retrieved from http://qjfep.ir/article-1-1538-en.html/(In Persian)
- Mousavi, B., Farazmand, H., Arman, S. A. and Mansori, S.A. (2022). Tax Reform and the Dynamics of Macroeconomic Variables in Iran: A Dynamic Stochastic General Equilibrium (DSGE). Tax Research, 30 (54) ,7-28. Retrieved from http:// doi.org/10.52547/taxjournal.30.54.7/(In Persian)
- Muritala, T. and Taiwo, A. (2011). Government expenditure and economic development: Empirical evidence from Nigeria. European Journal of Business and Management, 3(9), 18-28.
- Nnamocha, P. N. and Anyanwu, A. C. P. (2022). Government Expenditure and Performance of Selected Macroeconomic Variables in Nigeria (1981–2018). International Journal of Research and Scientific Innovation, 9(1), 138-150.
- Osinowo, O.H. (2015). Effect of Fiscal Policy on Sectoral Output Growth in Nigeria. Advances in Economics and Business, 3(6), 195-203. Retrieved from https://doi.org/ 10.13189/aeb.2015.030601/
- Panahi, H. , Behboudi, D. , Asgharpour, H. and Keshtkaran, N. (2018). An Analysis of the Effects of Monetary Policy Shocks on the Housing Sector: (A DSGE Model). Urban Economics, 3(2), 1-18. Retrieved from https://doi.org/ 10.22108/ue.2019.111991.1070/(In Persian)
- Radhi, H. (2018). The relationship between government expenditure and GDP in non-oil Iraqi economy. Journal of the Arab American University, 4(2), 46-71.
- Roberts, T., Cabral, F. J. and Coly, S. M. (2020). Economic Impact of Public Expenditure in The Gambia. Global Journal of Management and Business Research, 20(6). Retrieved from https://doi.org/ 10.34257/GJMBRBVOL20IS6PG39/
- Radu, Ş. C. (2023). The Effects of Government Expenditure on the Output: A Real Business Cycle Analysis for the Romanian Economy. Studia Universitatis Babes Bolyai-Oeconomica, 68(2), 55-72. Retrieved from https://doi.org/10.2478/subboec-2023-0009/
- Saadatmehr, M. and Ghafari, H. (2019). The Comparative Study of the Impacts of Monetary and Fiscal Policies on the Economy of Iran: DSGE Model Approach. The Journal of Economic Studies and Policies, 6(1), 51-74. Retrieved from https://economic.mofidu.ac.ir/article_37170.html/(In Persian)
- Slanicay, M. (2014). Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models. Review of Economic Perspectives, 14(2), 145-164. Retrieved from https://doi.org/ 10.2478/revecp-2014-0008/
- Sujudi Kurabaslu, A., Daei Karimzadeh, S. And Sharifi Renani, H. (2021). Impulse Response Analysis of the Effects of Shocks to Government Consumption Expenditures on Macroeconomic Variables (Case Study: Oil and Non-Oil Developing Countries. Economic Research and Policies, 29(97), 283-311. Retrieved from http://doi.org/ 10.52547/qjerp.29.97.283/(In Persian)
- Tayefeh jabbari, R., Mohammadi, T. and Bahrami, J. (2022). Applications of fiscal policy with the presence of households with finger consumption using dynamic stochastic general equilibrium model approach. Applied Theories of Economics, 9(1), 27-56. Retrieved from https://doi.org/ 10.22034/ecoj.2021.42755.2767/(In Persian)
- Tcherneva, R. P. (2011). Fiscal Policy Effectiveness: Lessons from the Great Recession. Working Paper No. 649. Retrieved from http://dx.doi.org/10.2139/ssrn.1760135/
- Tenhofen, J., Wolff, G. B. and Heppke-Falk, K. H. (2010). The macroeconomic effects of exogenous fiscal policy shocks in Germany: a disaggregated SVAR analysis. Jahrbucher fur Nationalokonomie und Statistik, 230(3), 328-355. Retrieved from https://doi.org/10.1515/jbnst-2010-0305/
- Yang, W., Fidrmuc, J. and Ghosh, S. (2012). Macroeconomic effects of government spending shocks: new evidence using natural disaster relief in Korea. CEDI Discussion Paper Series 12-05, Centre for Economic Development and Institutions (CEDI), Brunel University. Retrieved from https://dx.doi.org/10.2139/ssrn.2155603/
- Zyphur, M. J. and Oswald, F. L. (2015). Bayesian estimation and inference: A user’s guide. Journal of Management, 41(2), 390-420. Retrieved from
https://doi.org/10.1177/0149206313501200/
-Abdollah Milani, M., Bahrami, J., Tavakolian, H. and Akbarpur, N. (2018). The Impact of Tax Policy on the Underground Economy: DSGE Model. Economic Research, 23(76), 1-51. Retrieved from https://doi.org/10.22054/ijer.2018.9511/(In Persian)
- Ahmadi, S., Khezri, M., Zandi, F. and Safavi, B. (2024). investigating the effect of oil revenues on tax revenues realization under conditions of tax rent-seeking: DSGE Approach. Economic Policy, 16(32), 117-144. Retrieved from https://doi.org/10.22034/epj.2024.21083.2552/(In Persian)
- Akpan, U. F. and Atan, J. A. (2015). Macroeconomic Effects of Fiscal Policy Shock in Nigeria: A SVAR Approach. International Journal of Business and Economics Research, 4(3), 109-120. Retrieved from https://doi.org/ 10.11648/j.ijber.20150403.14/
- Amirali, M., bakhshi dastjerdi, R. and vaez barzani, M. (2023). The Real Effects of the Bank’s Function as a Creator of Liquidity Through Lending and Factitious Rollover of Non-Performing Loans Channels (DSGE Approach). Economic Research, 57(4), 583-628.Retrieved from https://doi.org/ 10.22059/jte.2023.92422/(In Persian)
- Amire, C. M. and Amire, P. O. (2020). Government Expenditure in Nigeria: An Evaluation. AE-FUNAI. Journal of Accounting Business and Finance, 6(1),178-186.
- Atems, B. (2019). The effects of government spending shocks: Evidence from US states. Regional Science and Urban Economics, 74, 65-80. Retrieved from https://doi.org/10.1016/j.regsciurbeco.2018.11.008/
- Babalola, A. I. (2015). Fiscal Policy and Economic Development in Nigeria. Journal of Economics and Sustainable Development, 6(7), 150-159. Retrieved from https://www.iiste.org/Journals/index.php/JEDS/article/view/21476/
- Beetsma, R. and Giuliodori, M. (2011). The effects of government purchases shocks: review and estimates for the EU. The Economic Journal, 121(550), 4-32. Retrieved fromhttps://doi.org/10.1111/j.1468-0297.2010.02413.x/
-Beltran, D. O. and Draper, D. (2008). Estimating the parameters of a small open economy DSGE model: Identifiability and inferential validity. FRB International Finance Discussion Paper, 955. Retrieved from http://dx.doi.org/10.2139/ssrn.1311887/
- Cebi, C. (2017). The government spending multiplier in Turkey. Emerging Markets Finance and Trade, 53(5), 1184-1198. Retrieved from
https://doi.org/10.1080/1540496X.2016.1174685/
-Chandana, A., Adamu, J. and Musa, A. (2020). Impact of government expenditure on economic growth in Nigeria, 1970 - 2019. CBN Journal of Applied Statistics (JAS), 11(2), 139-174. Retrieved from https://dc.cbn.gov.ng/jas/vol11/iss2/6/
- Choi, Y., and Kim, S. H. (2021). Understanding the effects of government spending in a time-inconsistent model. Economic Modelling, 98, 266-279. Retrieved fromhttps://doi.org/10.1016/j.econmod.2020.11.018/
-Dawkins, C., Srinivasan, T. N. and Whalley, J. (2001). Calibration. In Handbook of econometrics, 5, 3653-3703. Elsevier. Retrieved from https://ideas.repec.org/h/eee/ecochp/5-58.html/
- Duong, T., Vu, G., Nguyen, T. and Pham-Hi, D. (2016). Impacts of government spending shock on Vietnamese macroeconomic aggregate variables: DSGE and SVAR models. Communications in Mathematics and Applications, 7(4), 343-359. Retrieved from https://doi.org/ 10.26713/cma.v7i4.490/
- Eslamloueyan, k. and Tavakoli, H. (2020). The Effects of Government Expenditure Shocks on Input Efficiency and Consumer Preferences in Iran. Quantitative Economics ,17(3), 1-19. Retrieved from https://doi.org/10.22055/jqe.2020.24789.1814/(In Persian)
- Fathabadi, M., Haji, M. M. M. S., Mahmoudzadeh, M., and Qavidel, S. (2024). Uncertainty of government expenditure policy and economic activity in Iran. Financial Economics, 18(66), 483-504. Retrieved from https://doi.org/ 10.30495/fed.2024.709383/(In Persian)
- Hadian, M. and Dargahi, H. (2021). Macroeconomic effects of current and development expenditures of the government in Iran: DSGE approach. Quarterly Journal of Applied Theories of Economics, 8(1), 241-272. Retrieved from https://doi.org/ 10.22034/ecoj.2021.42007.2744/(In Persian)
- Hadian, E., Afshoon, H. A., Samadi, A., & Sadraei javaheri, A. (2020). Investigate the Effects of Public Expenditure on Macroeconomic Variables under a Balanced Budget Rule in Iran: a DSGE Approach. Journal of Economic Research and Policies, 27 (92) , 89-132. Retrieved from http://qjerp.ir/article-1-2531-en.html/(In Persian)
- Haghighat, J. and Moharam Joudi, N. (2017). Investigating The Effects Of Governmental Expenditure Shock on Gross Domestic Product Growth In Iran: Ardl Approach. Economic Modelling, 10(4), 141-166. (In Persian)
- HosseinZade, H. (2017). The Effects of Government Expenditure Shocks on Gross Domestic Product (GDP) in Iran. Quarterly Journal of The Macro and Strategic Policies, 5(17), 77-95. (In Persian)
- Jabbari, A. and Akbari, N. (2018). The Dynamic Effects of Fiscal Policy Shocks on the Variables of Production, Consumption and Private Sector Investment in IRAN. Macroeconomics Research Letter, 13(26), 79-100. Retrieved from https://doi.org/ 10.22080/iejm.2019.14444.1608/(In Persian)
- Keshtkaran, N., Behboudi, D. and Panahi, H. (2021). The Asymmetric Effects of Monetary Policy Shocks on the Residential Market of Iran:A DSGE Approach. Applied Theories of Economics, 7(4), 195-218. Retrieved from https://doi.org/ 10.22034/ecoj.2021.39757.2659/(In Persian)
- Khalilzadeh, J., Heidari, H. and Bashiri, S. (2020). The Effect of Government Expenditures and Banking Credits Volume Considering Monetary Policies on Economic Growth: DSGE Model (Case Study of Iran). Economic Growth and Development Research, 10(39), 75-92. Retrieved from https://doi.org/10.30473/egdr.2019.47760.5306/(In Persian)
- Tanzi, V. and Schuknecht, L. (2000). Public Spending in the 20th Century. Cambridge University Press. Retrieved from https://doi.org/10.1017/CBO9780511625800/
- Maddah, M. and Samiei, N. (2019). The Effect of Financial and Monetary Shocks on the Iranian Taxation System along with Determining Optimal Tax Rates of Consumption, Salary and Wages (General Equilibrium Approach using Genetic Algorithm). Tax Research, 25 (36),177-210. (In Persian)
- Mahmoudinia, D. And Jafari, S. (2024). The Welfare Cost of Inflation in a Steady State: An Application of Various Utility Functions in the Sidrauski Model. Fiscal and Economic Policies, 11(44), 7-51. Retrieved from http://qjfep.ir/article-1-1538-en.html/(In Persian)
- Mousavi, B., Farazmand, H., Arman, S. A. and Mansori, S.A. (2022). Tax Reform and the Dynamics of Macroeconomic Variables in Iran: A Dynamic Stochastic General Equilibrium (DSGE). Tax Research, 30 (54) ,7-28. Retrieved from http:// doi.org/10.52547/taxjournal.30.54.7/(In Persian)
- Muritala, T. and Taiwo, A. (2011). Government expenditure and economic development: Empirical evidence from Nigeria. European Journal of Business and Management, 3(9), 18-28.
- Nnamocha, P. N. and Anyanwu, A. C. P. (2022). Government Expenditure and Performance of Selected Macroeconomic Variables in Nigeria (1981–2018). International Journal of Research and Scientific Innovation, 9(1), 138-150.
- Osinowo, O.H. (2015). Effect of Fiscal Policy on Sectoral Output Growth in Nigeria. Advances in Economics and Business, 3(6), 195-203. Retrieved from https://doi.org/ 10.13189/aeb.2015.030601/
- Panahi, H. , Behboudi, D. , Asgharpour, H. and Keshtkaran, N. (2018). An Analysis of the Effects of Monetary Policy Shocks on the Housing Sector: (A DSGE Model). Urban Economics, 3(2), 1-18. Retrieved from https://doi.org/ 10.22108/ue.2019.111991.1070/(In Persian)
- Radhi, H. (2018). The relationship between government expenditure and GDP in non-oil Iraqi economy. Journal of the Arab American University, 4(2), 46-71.
- Roberts, T., Cabral, F. J. and Coly, S. M. (2020). Economic Impact of Public Expenditure in The Gambia. Global Journal of Management and Business Research, 20(6). Retrieved from https://doi.org/ 10.34257/GJMBRBVOL20IS6PG39/
- Radu, Ş. C. (2023). The Effects of Government Expenditure on the Output: A Real Business Cycle Analysis for the Romanian Economy. Studia Universitatis Babes Bolyai-Oeconomica, 68(2), 55-72. Retrieved from https://doi.org/10.2478/subboec-2023-0009/
- Saadatmehr, M. and Ghafari, H. (2019). The Comparative Study of the Impacts of Monetary and Fiscal Policies on the Economy of Iran: DSGE Model Approach. The Journal of Economic Studies and Policies, 6(1), 51-74. Retrieved from https://economic.mofidu.ac.ir/article_37170.html/(In Persian)
- Slanicay, M. (2014). Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models. Review of Economic Perspectives, 14(2), 145-164. Retrieved from https://doi.org/ 10.2478/revecp-2014-0008/
- Sujudi Kurabaslu, A., Daei Karimzadeh, S. And Sharifi Renani, H. (2021). Impulse Response Analysis of the Effects of Shocks to Government Consumption Expenditures on Macroeconomic Variables (Case Study: Oil and Non-Oil Developing Countries. Economic Research and Policies, 29(97), 283-311. Retrieved from http://doi.org/ 10.52547/qjerp.29.97.283/(In Persian)
- Tayefeh jabbari, R., Mohammadi, T. and Bahrami, J. (2022). Applications of fiscal policy with the presence of households with finger consumption using dynamic stochastic general equilibrium model approach. Applied Theories of Economics, 9(1), 27-56. Retrieved from https://doi.org/ 10.22034/ecoj.2021.42755.2767/(In Persian)
- Tcherneva, R. P. (2011). Fiscal Policy Effectiveness: Lessons from the Great Recession. Working Paper No. 649. Retrieved from http://dx.doi.org/10.2139/ssrn.1760135/
- Tenhofen, J., Wolff, G. B. and Heppke-Falk, K. H. (2010). The macroeconomic effects of exogenous fiscal policy shocks in Germany: a disaggregated SVAR analysis. Jahrbucher fur Nationalokonomie und Statistik, 230(3), 328-355. Retrieved from https://doi.org/10.1515/jbnst-2010-0305/
- Yang, W., Fidrmuc, J. and Ghosh, S. (2012). Macroeconomic effects of government spending shocks: new evidence using natural disaster relief in Korea. CEDI Discussion Paper Series 12-05, Centre for Economic Development and Institutions (CEDI), Brunel University. Retrieved from https://dx.doi.org/10.2139/ssrn.2155603/
- Zyphur, M. J. and Oswald, F. L. (2015). Bayesian estimation and inference: A user’s guide. Journal of Management, 41(2), 390-420. Retrieved from
https://doi.org/10.1177/0149206313501200/
