We Ran One Regression
The controversy over the selection of 'growth regressions' was precipitated by some remarkably numerous 'estimation' strategies, including two million regressions by Sala-i-Martin ["American Economic Review" (1997b) Vol. 87, pp. 178-183]. Only one regression is really needed, namely the general unrestricted model, appropriately reduced to a parsimonious encompassing, congruent representation. We corroborate the findings of Hoover and Perez ["Oxford Bulletin of Economics and Statistics" (2004) Vol. 66], who also adopt an automatic general-to-simple approach, despite the complications of data imputation. Such an outcome was also achieved in just one run of "PcGets", within a few minutes of receiving the data set in Fernández, Ley and Steel ["Journal of Applied Econometrics" (2001) Vol. 16, pp. 563-576] from Professor Ley. Copyright 2004 Blackwell Publishing Ltd.
Year of publication: |
2004
|
---|---|
Authors: | Hendry, David F. ; Krolzig, Hans-Martin |
Published in: |
Oxford Bulletin of Economics and Statistics. - Department of Economics, ISSN 0305-9049. - Vol. 66.2004, 5, p. 799-810
|
Publisher: |
Department of Economics |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Automatic model selection: a new instrument for social science
Hendry, David F., (2004)
-
Improving on 'Data mining reconsidered' by K.D. Hoover and S.J. Perez
HENDRY, DAVID F., (1999)
-
The Properties of Automatic "GETS" Modelling
Hendry, David F., (2005)
- More ...