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The Creative Tension Between Statistics And Economics

Author

Listed:
  • CHENG HSIAO

    (Department of Economics, University of Southern California, Los Angeles, California, USA;
    Nanyang Technological University, Singapore;
    City University of Hong Kong, Hong Kong, China)

Abstract

This paper warns the risks of uncritically adopting the mind set of statisticians in empirical analysis. The examples of vector autoregressions, forecast combinations and measurement of treatment effects are used to illustrate the fragility of statistical inference when sample observations are limited.

Suggested Citation

  • Cheng Hsiao, 2012. "The Creative Tension Between Statistics And Economics," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 57(03), pages 1-11.
    • Handle: RePEc:wsi:serxxx:v:57:y:2012:i:03:n:s0217590812500178
    DOI: 10.1142/S0217590812500178
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    Citations

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    Cited by:

    1. Hsiao, Cheng & Wan, Shui Ki, 2014. "Is there an optimal forecast combination?," Journal of Econometrics, Elsevier, vol. 178(P2), pages 294-309.

    More about this item

    Keywords

    Time series modeling; non-parametric modeling; high dimensional data; structural approach; forecasting; C01; C10; C50;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General

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