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An Expanded Scope For Qualitative Economics

Author

Listed:
  • Andrew J. Buck

    () (Department of Economics, Temple University)

  • George M. Lady

    () (Department of Economics, Temple University)

Abstract

As currently practiced, the analysis of an economic model's qualitative properties is very restricted and rarely productive. This paper provides an approach for conducting an expanded qualitative analysis that can be applied to any economic model. The method proposed will enable the qualitative properties of all economic models to be critically assessed.

Suggested Citation

  • Andrew J. Buck & George M. Lady, 2010. "An Expanded Scope For Qualitative Economics," DETU Working Papers 1007, Department of Economics, Temple University.
    • Handle: RePEc:tem:wpaper:1007
    as

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    File URL: http://www.cla.temple.edu/RePEc/documents/detu_10_07.pdf
    File Function: First version, 2010
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    References listed on IDEAS

    as
    1. Buck, Andrew J. & Lady, George M., 2005. "Falsifying economic models," Economic Modelling, Elsevier, vol. 22(5), pages 777-810, September.
    2. Christopher A. Sims, 1986. "Are forecasting models usable for policy analysis?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 2-16.
    3. Kelvin Lancaster, 1962. "The Scope of Qualitative Economics," Review of Economic Studies, Oxford University Press, vol. 29(2), pages 99-123.
    4. Lady, George M, 1983. "The Structure of Qualitatively Determinate Relationships," Econometrica, Econometric Society, vol. 51(1), pages 197-218, January.
    5. Bernanke, Ben S & Blinder, Alan S, 1992. "The Federal Funds Rate and the Channels of Monetary Transmission," American Economic Review, American Economic Association, vol. 82(4), pages 901-921, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Lady, George M. & Buck, Andrew J., 2011. "Structural models, information and inherited restrictions," Economic Modelling, Elsevier, vol. 28(6), pages 2820-2831.
    2. Buck, Andrew J. & Lady, George M., 2012. "Structural sign patterns and reduced form restrictions," Economic Modelling, Elsevier, vol. 29(2), pages 462-470.

    More about this item

    Keywords

    Qualitative Analysis; Comparative Statics; Falsification;

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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