An explication of the key ideas behind the Cointegrated Vector Autoregression Approach. The CVAR approach is related to Haavelmo's famous quot;Probability Approach in Econometricsquot; (1944). It insists on careful stochastic specification as a necessary groundwork for econometric inference and...

This paper, which is prepared for the Inaugural Conference of the Institute for New Economic Thinking in King's College, Cambridge, 8-11 April 2010, questions the preeminence of theory over empirics in economics and argues that empirical econometrics needs to be given a more important and...

Økonomien er selve grundlaget for vores samfundsindretning og for politikken. Men den økonomiske videnskab har med sine stadig mere abstrakte og matematiske modeller mistet realitetssansen og mangler forankring i den sociale, menneskelige virkelighed, som den faktisk ser ud. I?Økonomien og...