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In praise of structural macroeconometrics/En defensa de la macroeconometría estructural

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  • LORÍA, EDUARDO

    ()
    (Facultad de Economía, Universidad Nacional Autónoma de México (UNAM))

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    Abstract

    Since the mid seventies a wave of critics against structural econometrics (Cowles Commission approach) arose, severely damaging its reputation and its use in common econometric practice. Despite some of those critics apply, this approach has being restored and therefore continues to be the work horse in the job. Se presentan las diversas razones que se adjudicaron desde mediados de los años setenta para desprestigiar el uso de los modelos estructurales. Se demuestra que si bien incurrían en debilidades importantes, su rehabilitación se ha hecho sin mayores complicaciones y siguen siendo el instrumento por excelencia para hacer el trabajo macroeconómico duro.

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    Bibliographic Info

    Article provided by Estudios de Economía Aplicada in its journal Estudios de Economía Aplicada.

    Volume (Year): 24 (2006)
    Issue (Month): (Abril)
    Pages: 277-297

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    Handle: RePEc:lrk:eeaart:24_1_8

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    Related research

    Keywords: Structural Models; Instrument; Econometric Work/Modelos Estructurales; Instrumento; Práctica Econométrica.;

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    1. Richard Cantor & Frank Packer, 1996. "Determinants and impact of sovereign credit ratings," Economic Policy Review, Federal Reserve Bank of New York, issue Oct, pages 37-53.
    2. Babbel, D.F., 1996. "Insuring Sovereign Debt Against Default," World Bank - Discussion Papers 328, World Bank.
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