Over 2000 books to read online or download to your PC, Kindle, Android, iPad, iPhone and any electronic book reader
Find an eBook by title or author...

 Electronic books  Economics and Business  Econometrics 

Quantitative Theory and Econometrics
Last eBook Edition: 2001

This article takes the perspective of the quantitative theorist. It argues that there is a great benefit to choosing parameters in an initial stage of an investigation, so that other researchers can readily understand and criticize the attributes of the data that give rise to such parameter estimates. It also argues that there is a substantial benefit to limiting the scope of inquiry in model evaluation, i.e., to focusing on a set of model implications taken to display central and novel features of the operation of a theoretical model economy. This limitation of focus seems appropriate to the current stage of research in macroeconomics, where we are still working with macroeconomic models that are extreme simplifications of macroeconomic reality. (From author)

eBook Contents

Introduction – Styles of economic theory – Examples of quantitative theory – How we learn from quantitative theory – How we learn from quantitative theory - How macroeconomics failed (twice) – The rise of quantitative theory – Comparing the methodologies – Reevaluating the standard RBC model – Challenges to econometrics – Opportunities for econometrics – The challenge of identification – Summary and conclusions - References

eBook License: Copyrighted (Personal Use Only) 

Free PDF eBook - 193 Kb - 53 pages