Causality in Economics: A Menu of Approaches
AbstractCausality is a notion that occurs often in economics. In using the words ‘cause’ and ‘effect,’ economists seek to distinguish causation from association, recognizing that causes are responsible for producing effects, whereas noncausal associations are not. The identification of causes is accorded a high priority because it is viewed as the basis for understanding economic phenomena and developing policy implications. In this survey we look at different approaches to causality in economics and set out the general principles of each approach, so as to assist in the communication and teaching role. Specifically, we confine attention to five approaches to causality in economics (narrative, comparative statics, theoretical, structural, and experimentalist) and elucidate their distinctive characteristics without entering into philosophical discussions. In particular, we pay close attention to the debate between the structuralist and experimentalist schools because this controversy has been extremely useful to clarify a number of fundamental points concerning causality in economics
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Lifescience Global in its journal Journal of Reviews on Global Economics.
Volume (Year): 2 (2013)
Issue (Month): ()
Contact details of provider:
Web page: http://www.lifescienceglobal.com
Causality in economics; causes of effects; counterfactuals; hypotheticals; effects of causes; local average treatment effect;
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Faisal Ameer Khan).
If references are entirely missing, you can add them using this form.