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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))

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.

Suggested Citation

  • Loría, Eduardo, 2006. "In praise of structural macroeconometrics/En defensa de la macroeconometría estructural," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 24, pages 277-297, Abril.
  • Handle: RePEc:lrk:eeaart:24_1_8
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    References listed on IDEAS

    as
    1. Babbel, D.F., 1996. "Insuring Sovereign Debt Against Default," World Bank - Discussion Papers 328, World Bank.
    2. 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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

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

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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