Bayesian methods in applied econometrics, or advantages and properties of Bayesian statistics

Bayesian statistics can be presented as a generalization of the frequentist approach. The choice of probabilized the space of states is truly revolutionary. Statisticians draw a hermetic border between the notion of unknown parameter and random parameter. In this article, we want to show the interest of Bayesian econometrics and this analytical approach on three important points; in the level of characteristics, in the advantages and finally in the properties.