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Reply to Deirdre McCloskey and Stephen Ziliak on Statistical Significance

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  • Thomas Mayer

Abstract

Deirdre McCloskey and Stephen Ziliak have graciously replied to my essay titled “Ziliak and McCloskey on Statistical Significance: An Assessment.” Only a few of McCloskey and Ziliak’s extensive criticisms are valid or partially valid, and these relate to points that can readily be dropped without materially weakening my conclusions. In particular, McCloskey and Ziliak do not engage my estimate of how often or how egregiously economists confuse statistical significance and oomph.

Suggested Citation

  • Thomas Mayer, 2013. "Reply to Deirdre McCloskey and Stephen Ziliak on Statistical Significance," Econ Journal Watch, Econ Journal Watch, vol. 10(1), pages 87-96, January.
    • Handle: RePEc:ejw:journl:v:10:y:2013:i:1:p:87-96
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    References listed on IDEAS

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    1. Kevin Hoover & Mark Siegler, 2008. "The rhetoric of 'Signifying nothing': a rejoinder to Ziliak and McCloskey," Journal of Economic Methodology, Taylor & Francis Journals, vol. 15(1), pages 57-68.
    2. Thomas Mayer, "undated". "Monetarists And Keynesians On Central Banking: A Study Of A Failed Debate," Department of Economics 96-06, California Davis - Department of Economics.
    3. Walter Krämer, 2011. "The Cult of Statistical Significance – What Economists Should and Should Not Do to Make their Data Talk," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 131(3), pages 455-468.
    4. Kevin Hoover & Mark Siegler, 2008. "Sound and fury: McCloskey and significance testing in economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 15(1), pages 1-37.
    5. Milton Friedman, 1957. "A Theory of the Consumption Function," NBER Books, National Bureau of Economic Research, Inc, number frie57-1, March.
    6. Mayer, Thomas, 1980. "Economics as a Hard Science: Realistic Goal or Wishful Thinking?," Economic Inquiry, Western Economic Association International, vol. 18(2), pages 165-178, April.
    7. Thomas Mayer, 2012. "Ziliak and McCloskey's Criticisms of Significance Tests: An Assessment," Econ Journal Watch, Econ Journal Watch, vol. 9(3), pages 256-297, September.
    8. Milton Friedman, 1957. "Introduction to "A Theory of the Consumption Function"," NBER Chapters, in: A Theory of the Consumption Function, pages 1-6, National Bureau of Economic Research, Inc.
    9. Deirdre N. McCloskey & Stephen T. Ziliak, 2012. "Statistical Significance in the New Tom and the Old Tom: A Reply to Thomas Mayer," Econ Journal Watch, Econ Journal Watch, vol. 9(3), pages 298-308, September.
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    Cited by:

    1. Stephen T. Ziliak & Deirdre N. McCloskey, 2013. "We Agree That Statistical Significance Proves Essentially Nothing: A Rejoinder to Thomas Mayer," Econ Journal Watch, Econ Journal Watch, vol. 10(1), pages 97-107, January.

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    More about this item

    Keywords

    Significance tests; t’s; p’s; confidence intervals; Ziliak; McCloskey; oomph;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General

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