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Interpreting Longitudinal Data, Part 1 – Looking to the Past

In: Interpreting Economic and Social Data

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  • Othmar W. Winkler

    (Georgetown University, The McDonough School of Business)

Abstract

Let me start this chapter with a piece of Chinese wisdom, not because of its superficial similarity to the ‘mountains’ in the graph of a time-series, but because it expresses the evolution of my own thinking on this matter. The present state of time-series analysis seems captive in the second phase mentioned by Chin-Yuan Wei-Hsin, where things as vital as waters and mountains, under the guidance of learned teachers, are understood to be something else. In analogy, statistical concepts and ideas that have ignored the true nature of socio-economic data dominate our approach to their longitudinal analysis. Chapters 2, 3 and 4 laid the foundation for a more realistic approach to time-series, arriving finally, like the old monk, at the unromantic realization about the true nature of ‘mountains and waters’.

Suggested Citation

  • Othmar W. Winkler, 2009. "Interpreting Longitudinal Data, Part 1 – Looking to the Past," Springer Books, in: Interpreting Economic and Social Data, chapter 0, pages 63-85, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-68721-4_5
    DOI: 10.1007/978-3-540-68721-4_5
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