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Why inferential statistics are inappropriate for development studies and how the same data can be better used
Ballinger, Clint - Volkswirtschaftliche Fakultät, … - 2011
The purpose of this paper is twofold: 1) to highlight the widely ignored but fundamental problem of ‘superpopulations’ for the use of inferential statistics in development studies. We do not to dwell on this problem however as it has been sufficiently discussed in older papers by...
Persistent link: https://www.econbiz.de/10008923034
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On Theil's Errors
Magnus, Jan R.; Sinha, A.K. - Tilburg University, Center for Economic Research - 2003
We take a fresh look at Theil's BLUS residuals and ask why they have gone out of fashion.All our simulation experiments indicate that tests based on BLUS residuals have higher power than those based on the more popular recursive residuals, even in those cases (structural breaks) where intuition...
Persistent link: https://www.econbiz.de/10011092941
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The case for higher frequency inflation expectations
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2011
I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused on three survey measures of expected inflation: the...
Persistent link: https://www.econbiz.de/10009650037
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On the reception of Haavelmo's econometric thought
Hoover, Kevin D. - 2012
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 … techniques and a close reading of econometrics articles and textbooks to trace the way in which the economics profession received …
Persistent link: https://www.econbiz.de/10011708115
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Sargent, Thomas J. (born 1943)
Sent, Esther-Mirjam - Palgrave Macmillan
Thomas J. Sargent is the 2011 recipient of the Nobel Prize in Economic Sciences (along with Christopher Sims). Sargent has been instrumental in the development of rational expectations economics. The central idea behind this approach is that individuals should not make systematic mistakes. Yet...
Persistent link: https://www.econbiz.de/10010755724
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The use of econometric models for long-term policies: A critical view
Spaventa, Luigi - In: PSL Quarterly Review 66 (2013) 266, pp. 267-290
Article originally published in Banca Nazionale del Lavoro Quarterly Review, vol. 19 n. 77, June 1966, pp. 99-120.
Persistent link: https://www.econbiz.de/10010742217
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Experiments, Passive Observation and Scenario Analysis: Trygve Haavelmo and the Cointegrated Vector Autoregression
Hoover, Kevin; Juselius, Katarina - Økonomisk Institut, Københavns Universitet - 2012
Econometrics (1944). We show how, once the details of the analogy are systematically understood, the experimental analogy can be …
Persistent link: https://www.econbiz.de/10010592983
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Sims, Christopher Albert (born 1942)
Boumans, Marcel - Palgrave Macmillan
Christopher Sims is one of the leaders in time-series econometrics and empirical macroeconomics and is well known for … introducing the VAR approach to econometrics and macroeconomic modelling. Sims' main contribution to empirical macroeconomics was …
Persistent link: https://www.econbiz.de/10011141077
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Can econometric analysis make (agricultural) economics a hard science? Critical remarks and implications for economic methodology
Petrick, Martin - 2004
) claims to follow and expresses some serious doubt that econometrics in particular can make economics a hard science …
Persistent link: https://www.econbiz.de/10010322736
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Deriving Bounds on the Structural Vector when the Measurement Errors are Correlated: An Elaboration of the Frisch/Reiersol Approach
Willasen, Y. - 1998
In the general linear errors-in-variables model the main results have been derived under the assuption that the measurement errors are uncorrelated. However, as recognized by Bekker, Kapteyn and Wansbeek (BKW) (1997) and Lach (1993) this is often a problematic assumption to maintain in empirical...
Persistent link: https://www.econbiz.de/10010330295