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November 19, 2007
The sixth annual Advances in Econometrics Conference, the purpose of which is to bring together a small and highly regarded group of scholars for discussion, debate, and feedback on a specific topic in econometrics, was held Nov. 2-4, 2007 on LSU’s campus.
The event featured econometricians from Australia, Canada, Cyprus, Great Britain, the Netherlands, Finland, Sweden, and the United States. Conference sponsors included the Department of Economics at LSU’s E. J. Ourso College of Business, LSU’s Division of Economic Development and Forecasting, the Real Estate Research Institute, the Department of Agricultural Economics and Agribusiness, and the Department of Experimental Statistics.
Papers presented at the conference represented a sample of those to be published in Vol. 23 of the Advances in Econometrics series, entitled “Bayesian Econometric Models.” The volume is set to be released by Elsevier Science in 2008.
The primary focus of this year’s conference centered around examining how to use Bayesian methodology when analyzing models of the economy and evaluating the impact of social policies.
Bayesian techniques are widely used by central banks, not only in the U.S., but also in Sweden, Australia, and elsewhere to forecast economic growth, unemployment, and inflation. These forecasts are important inputs into fiscal and monetary policy actions, such as the Federal Reserve raising or lowering interest rates.
Professors Carter Hill of LSU and Thomas Fomby of SMU serve as the senior editors of the Advances in Econometrics series. Co-editors of the upcoming volume include Siddhartha Chib of Washington University (St. Louis), William E. Griffiths of the University of Melbourne (Australia), Gary Koop of the University of Strathclyde (Glasgow, Scotland), and Dek Terrell of LSU.
For information about the Advance in Econometrics conference, contact Hill at 225-578-1490, or visit www.bus.lsu.edu/economics.
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