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The Nonlinear Skeletons in the Closet

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Author Info

  • William A. Barnett

    (University of Kansas)

  • Barry E. Jones

    (Binghamton University - SUNY)

  • Milka Kirova

    (Washington University)

  • Travis Nesmith

    (Federal Reserve Board)

  • Meenakshi Pasupathy

    (Bernard Baruch School - CUNY)

Abstract

Although nonlinearity is the rule in economic theory, nonlinearity tends to make life difficult for econometricians. While there have been many advances in nonlinear econometrics in recent years, some problems produced by nonlinearity remain 'skeletons in the closet' in empirical economic research. In this paper, we open the door to that closet and take a look at two of the biggest skeletons. For a deeper look into that closet, see the just-published book by W. A. Barnett and Jane Binner (2004), Functional Structure and Approximation in Econometrics, North Holland, Elsevier Science.

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Bibliographic Info

Paper provided by EconWPA in its series Econometrics with number 0405003.

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Length: 45 pages
Date of creation: 27 May 2004
Date of revision:
Handle: RePEc:wpa:wuwpem:0405003

Note: Type of Document - doc; pages: 45. This paper is forthcoming in Michael Belongia and Jane Binner (eds), Money, Measurement, and Computation, Palgrave.
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Web page: http://128.118.178.162

Related research

Keywords: nonlinearity; curvature; regularity; cointegration; bispectrum; chaos; bifurcation;

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References

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Cited by:
  1. Barnett, William A., 2006. "Is Macroeconomics a Science?," MPRA Paper 415, University Library of Munich, Germany.
  2. William Barnett, 2006. "Is Macroeconomics a Science? Foreword to Apostolos Serletis, Money and the Economy," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200601, University of Kansas, Department of Economics.

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