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Statistical inference and statistical learning in economic research – selected challenges

Author

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  • Krzysztof Jajuga
  • Józef Pociecha
  • Mirosław Szreder

Abstract

This paper presents the main trends and the most important challenges related to the use of classical and modern statistical methods in economic research. The first part describes the key changes in quantitative economic and social research, including those related to technological progress. The main features of this evolution are the development of research infrastructure and changes in relations between researchers. The second discusses the need to find a compromise between easily accessible statistical data sets, advanced statistical software to analyse them, and the formal requirements of statistical inference. The third part details the essence and principles of statistical learning and presents a panorama of statistical learning methods. This results in the formulation of a paradigm of statistical learning for conducting modern statistical research.

Suggested Citation

  • Krzysztof Jajuga & Józef Pociecha & Mirosław Szreder, 2024. "Statistical inference and statistical learning in economic research – selected challenges," Ekonomista, Polskie Towarzystwo Ekonomiczne, issue 2, pages 138-154.
    • Handle: RePEc:aoq:ekonom:y:2024:i:2:p:138-154
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    More about this item

    Keywords

    quantitative methods; statistical inference; technological progress; hypothesis testing; statistical learning;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis

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