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An Expanded Scope For Qualitative Economics

Author Info

Listed author(s):
  • 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.

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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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Paper provided by Department of Economics, Temple University in its series DETU Working Papers with number 1007.

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Date of creation: May 2010
Handle: RePEc:tem:wpaper:1007
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Web page: http://www.cla.temple.edu/economics/

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Keywords: Qualitative Analysis; Comparative Statics; Falsification;

Find related papers by 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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  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.
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Cited by:

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

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