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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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
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- Mehmood, Sultan, 2013. "Terrorism and the macroeconomy: Evidence from Pakistan," MPRA Paper 44546, University Library of Munich, Germany.
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