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Econometricians tend to hold simultaneously two views in tension with each other: an apparent anti-realism that holds that all models are false and at best useful constructs or approximations to true models and an apparent realism that models are to be judged by their success at capturing an...
Persistent link: https://www.econbiz.de/10009145720
The welcome rise of replication tests in economics has not been accompanied by a single, clear definition of replication. A discrepant replication, in current usage of the term, can signal anything from an unremarkable disagreement over methods to scientific incompetence or misconduct. This...
Persistent link: https://www.econbiz.de/10011268328
Econometric Methodology is based on logical positivist principles. Since logical positivism has collapsed, it is necessary to re-think these foundations. We show that positivist methodology has led econometricians to a meaningless search for patterns in the data. An alternative methodology which...
Persistent link: https://www.econbiz.de/10010837165
Economics places a high premium on completeness of explanation. Typical general-equilibrium accounts of economic phenomena are preferred to partial equilibrium accounts on the ground that important interactions are necessarily omitted in the latter. A similar preference for microfoundational...
Persistent link: https://www.econbiz.de/10009145718
, intrinsically involving empirical discovery and requiring theory evaluation.  Despite important differences, discovery and … variables than observations, while embedding the theory; then rigorously evaluate selected models to ascertain their viability. …
Persistent link: https://www.econbiz.de/10008829645
Trygve Haavelmo’s The Probability Approach in Econometrics (1944) has been widely regarded as the foundation document … of modern econometrics. Nevertheless, its significance has been interpreted in widely different ways. Some modern … theory and data. Others credit Haavelmo with an approach that focuses on statistical adequacy rather than theoretical …
Persistent link: https://www.econbiz.de/10010878271
econometrics journals taken from the Thomson Reuters ISI Web of Science (ISI) Category of Economics, using citations data from ISI …
Persistent link: https://www.econbiz.de/10010862572
econometrics journals taken from the Thomson Reuters ISI Web of Science (ISI) Category of Economics, using citations data from ISI …
Persistent link: https://www.econbiz.de/10010907421
Lange engaged with Keynes in the matter of Keynes's macroeconomics, and over econometrics. Lange's interpretation of … economics. Lange also intervened in the Keynes-Tinbergen dispute over the scope and significance of econometrics. Lange … collaborated in a paper that conceded Keynes's main point that empirical investigation could not determine theory, but insisted …
Persistent link: https://www.econbiz.de/10010665095
The article offers a review of modern business cycle theory as developed in the first half of XX century. Marrama … considered as the most important for understanding the current state of business cycle theory: cyclical aggregative models (using …
Persistent link: https://www.econbiz.de/10010786802