Parameter | Range | Interpretation |

| [0, 1] | Overall scale of the error covariance matrix |

| >0 | Standard deviation around A |

| =1 | Weight of own lag versus other lags |

| >0 | Lag decay |

| ≥0 | Scale of standard deviation of intercept |

| ≥0 | Scale of standard deviation of exogenous variable coefficients |

µ | ≥0 | Sum of coefficients/Cointegration (long-term trends) |

µ | ≥0 | Initial observations/dummy observation (impacts of initial conditions) |

v | >0 | Prior degrees of freedom |