Yes Econometrics Is Alchemy PDF Download
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Author | : Morong Yang |
Publisher | : |
Total Pages | : 33 |
Release | : 2016 |
Genre | : |
ISBN | : |
Download Yes, Econometrics is Alchemy Book in PDF, ePub and Kindle
Econometrics is considered scientific under two notions: it applies statistical method for analyzing economic data; and it is empirical. This paper refutes these two notions. As regression just calculates mathematically, instead of statistically, coefficients which are unique to a specific model and dataset, there is nonexistence of t-statistic and therefore noninvolvement of statistical method in econometrics. Econometrics is not empirical because it neither investigates particular situations nor determines kinds. On the other hand, econometrics, by letting an uncontrollable error term in regression models, allows researchers to try any models for finding the results they want. This in turn easily makes econometrics a kind of con job. For all multi regression models, econometrics is essentially working on abstract numbers of no existential reference. These defects determine that econometrics cannot be saved. Preliminary evidences show that econometrics is just alchemy. Application of econometrics to verifying asset pricing models is one of the typical illustrations of the assertion.
Author | : David F. Hendry |
Publisher | : Oxford University Press, USA |
Total Pages | : 561 |
Release | : 2000-10-26 |
Genre | : Business & Economics |
ISBN | : 0198293542 |
Download Econometrics: Alchemy Or Science? Book in PDF, ePub and Kindle
"Econometrics: Alchemy or Science?" analyses the effectiveness and validity of applying econometric methods to economic time series. The methodological dispute is long-standing, and no claim can be made for a single valid method, but recent results on the theory and practice of model selection bid fair to resolve many of the contentious issues.The book presents criticisms and evaluations of competing approaches, based on theoretical economic and econometric analyses, empirical applications, and Monte Carlo simulations, which interact to determine best practice. It explains the evolution of an approach to econometric modelling founded in careful statistical analyses of the available data, using economic theory to guide the general model specification. From a strong foundation in the theory of reduction, via a range of applied andsimulation studies, it demonstrates that general-to-specific procedures have excellent properties.The book is divided into four Parts: Routes and Route Maps; Empirical Modelling Strategies; Formalization; and Retrospect and Prospect. A short preamble to each chapter sketches the salient themes, links to earlier and later developments, and the lessons learnt or missed at the time. A sequence of detailed empirical studies of consumers' expenditure and money demand illustrate most facets of the approach. Material new to this revised edition describes recent major advances in computer-automatedmodel selection, embodied in the powerful new software program PcGets, which establish the operational success of the modelling strategy.
Author | : David F. Hendry |
Publisher | : |
Total Pages | : 560 |
Release | : 2000 |
Genre | : |
ISBN | : |
Download Econometrics: Alchemy Or Science? Book in PDF, ePub and Kindle
Author | : G. M. P. Swann |
Publisher | : Edward Elgar Publishing |
Total Pages | : 274 |
Release | : 2006-01-01 |
Genre | : Social Science |
ISBN | : 9781781958636 |
Download Putting Econometrics in Its Place Book in PDF, ePub and Kindle
'I consider the book as well suited to provide a broader perspective on methods used in applied economic research. For the applied researcher the book will provide a nice overview on existing methods and some arguments as to which method might be particularly suitable for specific purposes.' - Peter Winker, Jahrbücher f. Nationalökonomie u. Statistik
Author | : Hugo A. Keuzenkamp |
Publisher | : Cambridge University Press |
Total Pages | : 324 |
Release | : 2000-11-02 |
Genre | : Business & Economics |
ISBN | : 1139431048 |
Download Probability, Econometrics and Truth Book in PDF, ePub and Kindle
When John Maynard Keynes likened Jan Tinbergen's early work in econometrics to black magic and alchemy, he was expressing a widely held view of a new discipline. However, even after half a century of practical work and theorizing by some of the most accomplished social scientists, Keynes' comments are still repeated today. This book assesses the foundations and development of econometrics and sets out a basis for the reconstruction of the foundations of econometric inference by examining the various interpretations of probability theory which underlie econometrics. Keuzenkamp claims that the probabilistic foundations of econometrics are weak, and although econometric inferences may yield interesting knowledge, claims to be able to falsify or verify economic theories are unwarranted. Methodological falsificationism in econometrics is an illusion. Instead, it is argued, econometrics should locate itself in the tradition of positivism.
Author | : Dilip M. Nachane |
Publisher | : Oxford University Press, USA |
Total Pages | : 888 |
Release | : 2006-10-19 |
Genre | : Business & Economics |
ISBN | : |
Download Econometrics Book in PDF, ePub and Kindle
This textbook covers both the theory and the applications aspects of econometrics for identifying and formulating answers to practical questions. Aimed at Indian students at the post-graduate level , this is a comprehensive volume in its coverage of topics, assumes knowledge of advanced undergraduate algebra, contains exercises and solved examples, and uses applications from the Indian economy and data from both India and the West.
Author | : V. Pandit |
Publisher | : Academic Foundation |
Total Pages | : 426 |
Release | : 2008 |
Genre | : Business & Economics |
ISBN | : 9788171886821 |
Download Theory, Measurement, and Policy Book in PDF, ePub and Kindle
Presidential addresses delivered at the annual conferences of TIES.
Author | : Neil R. Ericsson |
Publisher | : |
Total Pages | : 108 |
Release | : 1995 |
Genre | : Economic policy |
ISBN | : |
Download The Lucas Critique in Practice Book in PDF, ePub and Kindle
Author | : Herbert Stanley Redgrove |
Publisher | : |
Total Pages | : 16 |
Release | : 1929 |
Genre | : Alchemy |
ISBN | : |
Download Alchemy and Economics Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 106 |
Release | : 1995 |
Genre | : International finance |
ISBN | : |
Download International Finance Discussion Papers Book in PDF, ePub and Kindle