Christopher A. Sims: Bayesian Methods in Applied Econometrics, or, Why Econometrics Should Always and Everywhere Be Bayesian: Noted

Christopher A. Sims: Bayesian Methods in Applied Econometrics, or, Why Econometrics Should Always and Everywhere Be Bayesian:

The first part of the talk makes some unoriginal claims about the role of Bayesian thinking.

Despite being unoriginal, and obvious to me and to a minority of econometricians, they are unfamiliar, thought-provoking, or outrageous to quite a few econometricians....

The latter part of the talk discusses some areas of econometric application where frequentist asymptotics seems particularly persistent and suggests how Bayesian approaches might become more practical and prevalent.