New Gretl Software Package Has Optimized Model Building
The BACE package integrates classical and Bayesian estimation to help analysts manage model uncertainty and processing speeds.
Updated on Sept. 25, 2026 in Economics — General
Economists Marcin Błażejowski and Jacek Kwiatkowski have released a new BACE software package for the gretl econometric platform. The tool is designed to address computational efficiency and model uncertainty across various regression frameworks.
Why it matters
By combining classical estimation with Bayesian techniques, the package allows operators to streamline complex statistical modeling. It specifically targets computational bottlenecks that can delay data-driven decision-making.
The BACE package supports nine distinct regression model types, including Tobit and ordered logit, within the gretl environment. It provides new measures of jointness to address model uncertainty compared to standard standalone estimation routines.
The players
Marcin Błażejowski
An economist and co-developer of the BACE software package.
Jacek Kwiatkowski
An economist and co-developer of the BACE software package.
The details
The software, which stands for Bayesian averaging of classical estimates, operates as an add-on within the gretl environment. It automates model selection by implementing Bayesian information criterion variants, which assists in refining statistical outputs. This mechanism allows analysts to handle broader model uncertainty without requiring a total shift in their existing estimation workflows.
Timeline
September 25, 2026: The BACE package was officially published.
Market Landscape
The BACE package extends the functional scope of the gretl econometric analysis environment by introducing advanced Bayesian averaging techniques. This follows a broader trend in econometric software development that emphasizes model uncertainty as a critical variable in predictive accuracy.
Data analysts should evaluate their current regression workflows to determine if the jointness measures and Bayesian criteria can replace manual model validation. The tool is available for integration into existing gretl-based econometric projects immediately.
The takeaway
The release of BACE demonstrates a shift toward integrating Bayesian flexibility into established classical workflows. Analysts should monitor the package performance against current proprietary software to determine if a migration of legacy statistical scripts is warranted.
Further reading
For more on the tools shaping industry forecasting, see our section on Economics — General.
More information
Review the technical specifications and implementation details in the BACE package journal article.
Source note: This article includes information reported by Jstatsoft.
