Methodological Mistakes and Econometric Consequences
AbstractEconometric Methodology is based on logical positivist principles. Since logical positivism has collapsed, it is necessary to re-think these foundations. We show that positivist methodology has led econometricians to a meaningless search for patterns in the data. An alternative methodology which relates observed patterns to real causal structures is proposed.
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Bibliographic InfoArticle provided by Econometric Research Association in its journal International Econometric Review.
Volume (Year): 4 (2012)
Issue (Month): 2 (September)
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More information through EDIRC
Econometric Methodology; logical positivism; realism; causality; VAR models; Forecasting; surprise; goodness of fit.;
Other versions of this item:
- Zaman, Asad, 2012. "Methodological mistakes and econometric consequences," MPRA Paper 41032, University Library of Munich, Germany.
- C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
- B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Atiq-ur-Rehman, Atiq-ur-Rehman & Zaman, Asad, 2009.
"Impact of Model Specification Decisions on Unit Root Tests,"
19963, University Library of Munich, Germany.
- Atiq-ur-Rehman, 2011. "Impact of Model Specification Decisions on Unit Root Tests," International Econometric Review (IER), Econometric Research Association, vol. 3(2), pages 22-33, September.
- Leamer, Edward E, 1983.
"Let's Take the Con Out of Econometrics,"
American Economic Review,
American Economic Association, vol. 73(1), pages 31-43, March.
- Asad Zaman, 2010.
"Causal Relations via Econometrics,"
International Econometric Review (IER),
Econometric Research Association, vol. 2(1), pages 36-56, April.
- Mehmood, Sultan, 2013. "Terrorism and the macroeconomy: Evidence from Pakistan," MPRA Paper 44546, University Library of Munich, Germany.
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