valueprhr (version 0.1.0)

fit_bayesian_hierarchical: Fit Bayesian Hierarchical Panel Model

Description

Fits a Bayesian mixed effects model with random slopes by sector.

Usage

fit_bayesian_hierarchical(
  panel_data,
  include_time = TRUE,
  chains = 4L,
  iter = 4000L,
  seed = 12345L
)

Value

A list containing:

model

The fitted rstanarm model object

r2_bayes

Bayesian R-squared (mean)

summary

Model summary for fixed effects

metrics

In-sample evaluation metrics

Arguments

panel_data

Data frame in panel format.

include_time

Logical. Include time trend. Default TRUE.

chains

Number of MCMC chains. Default 4.

iter

Number of iterations. Default 4000.

seed

Random seed. Default 12345.

Examples

if (FALSE) {
if (requireNamespace("rstanarm", quietly = TRUE)) {
  set.seed(123)
  panel <- data.frame(
    year = rep(2000:2009, 5),
    sector = rep(LETTERS[1:5], each = 10),
    time = rep(1:10, 5),
    log_direct = rnorm(50, 5, 0.5),
    log_production = rnorm(50, 5, 0.5)
  )
  panel$log_production <- panel$log_direct * 0.95 + rnorm(50, 0, 0.1)

  result <- fit_bayesian_hierarchical(panel, chains = 2, iter = 1000)
  print(result$r2_bayes)
}
}