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From the early-1950s on, F.A. Hayek was concerned with the development of a methodology of sciences that study systems … elucidate the implications of Hayek’s methodology with respect to the specific dimensions along which the scientist's knowledge …); yet, despite the fact that his conceptions of both complex phenomena and the methodology appropriate to their …
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This paper asks the question: Why has the ?general-to-specific? cointegrated VAR approach as developed in Europe had only limited success in the US as a tool for doing empirical macroeconomics, where what might be called a ?theory comes first? approach dominates? The reason this paper highlights...
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's historically used methodology, correctly understood. However, because the European CVAR approach requires explicit researcher …
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