Econometrics Alchemy Or Science

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Econometrics: Alchemy Or Science?

Author : David F. Hendry
Publisher : Oxford University Press, USA
ISBN 13 : 0198293542
Total Pages : 561 pages
Book Rating : 4.1/5 (982 download)

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Book Synopsis Econometrics: Alchemy Or Science? by : David F. Hendry

Download or read book Econometrics: Alchemy Or Science? written by David F. Hendry and published by Oxford University Press, USA. This book was released on 2000-10-26 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Econometrics: Alchemy or Science?" analyses the effectiveness and validity of applying econometric methods to economic time series. The methodological dispute is long-standing, and no claim can be made for a single valid method, but recent results on the theory and practice of model selection bid fair to resolve many of the contentious issues.The book presents criticisms and evaluations of competing approaches, based on theoretical economic and econometric analyses, empirical applications, and Monte Carlo simulations, which interact to determine best practice. It explains the evolution of an approach to econometric modelling founded in careful statistical analyses of the available data, using economic theory to guide the general model specification. From a strong foundation in the theory of reduction, via a range of applied andsimulation studies, it demonstrates that general-to-specific procedures have excellent properties.The book is divided into four Parts: Routes and Route Maps; Empirical Modelling Strategies; Formalization; and Retrospect and Prospect. A short preamble to each chapter sketches the salient themes, links to earlier and later developments, and the lessons learnt or missed at the time. A sequence of detailed empirical studies of consumers' expenditure and money demand illustrate most facets of the approach. Material new to this revised edition describes recent major advances in computer-automatedmodel selection, embodied in the powerful new software program PcGets, which establish the operational success of the modelling strategy.

Econometrics: Alchemy or Science?

Author : David F. Hendry
Publisher : OUP Oxford
ISBN 13 : 0191522112
Total Pages : 560 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Econometrics: Alchemy or Science? by : David F. Hendry

Download or read book Econometrics: Alchemy or Science? written by David F. Hendry and published by OUP Oxford. This book was released on 2000-10-26 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Econometrics: Alchemy or Science?" analyses the effectiveness and validity of applying econometric methods to economic time series. The methodological dispute is long-standing, and no claim can be made for a single valid method, but recent results on the theory and practice of model selection bid fair to resolve many of the contentious issues. The book presents criticisms and evaluations of competing approaches, based on theoretical economic and econometric analyses, empirical applications, and Monte Carlo simulations, which interact to determine best practice. It explains the evolution of an approach to econometric modelling founded in careful statistical analyses of the available data, using economic theory to guide the general model specification. From a strong foundation in the theory of reduction, via a range of applied and simulation studies, it demonstrates that general-to-specific procedures have excellent properties. The book is divided into four Parts: Routes and Route Maps; Empirical Modelling Strategies; Formalization; and Retrospect and Prospect. A short preamble to each chapter sketches the salient themes, links to earlier and later developments, and the lessons learnt or missed at the time. A sequence of detailed empirical studies of consumers' expenditure and money demand illustrate most facets of the approach. Material new to this revised edition describes recent major advances in computer-automated model selection, embodied in the powerful new software program PcGets, which establish the operational success of the modelling strategy.

Econometrics: Alchemy Or Science?

Author : David F. Hendry
Publisher :
ISBN 13 :
Total Pages : 560 pages
Book Rating : 4.:/5 (475 download)

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Book Synopsis Econometrics: Alchemy Or Science? by : David F. Hendry

Download or read book Econometrics: Alchemy Or Science? written by David F. Hendry and published by . This book was released on 2000 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Econometrics as a Con Art

Author : Imad A. Moosa
Publisher : Edward Elgar Publishing
ISBN 13 : 1785369954
Total Pages : 253 pages
Book Rating : 4.7/5 (853 download)

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Book Synopsis Econometrics as a Con Art by : Imad A. Moosa

Download or read book Econometrics as a Con Art written by Imad A. Moosa and published by Edward Elgar Publishing. This book was released on 2017-07-28 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imad Moosa challenges convention with this comprehensive and compelling critique of econometrics, condemning the common practices of misapplied statistical methods in both economics and finance.

Dynamic Econometrics

Author : David F. Hendry
Publisher :
ISBN 13 : 9780198283164
Total Pages : 918 pages
Book Rating : 4.2/5 (831 download)

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Book Synopsis Dynamic Econometrics by : David F. Hendry

Download or read book Dynamic Econometrics written by David F. Hendry and published by . This book was released on 1995 with total page 918 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main problem in econometric modelling of time series is discovering sustainable and interpretable relationships between observed economic variables. The primary aim of this book is to develop an operational econometric approach which allows constructive modelling. Professor Hendry deals with methodological issues (model discovery, data mining, and progressive research strategies); with major tools for modelling (recursive methods, encompassing, super exogeneity, invariance tests); and with practical problems (collinearity, heteroscedasticity, and measurement errors). He also includes an extensive study of US money demand. The book is self-contained, with the technical background covered in appendices. It is thus suitable for first year graduate students, and includes solved examples and exercises to facilitate its use in teaching. About the Series Advanced Texts in Econometrics is a distinguished and rapidly expanding series in which leading econometricians assess recent developments in such areas as stochastic probability, panel and time series data analysis, modeling, and cointegration. In both hardback and affordable paperback, each volume explains the nature and applicability of a topic in greater depth than possible in introductory textbooks or single journal articles. Each definitive work is formatted to be as accessible and convenient for those who are not familiar with the detailed primary literature.

The Methodology and Practice of Econometrics

Author : Jennifer Castle
Publisher : Oxford University Press, USA
ISBN 13 : 9780198743781
Total Pages : 0 pages
Book Rating : 4.7/5 (437 download)

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Book Synopsis The Methodology and Practice of Econometrics by : Jennifer Castle

Download or read book The Methodology and Practice of Econometrics written by Jennifer Castle and published by Oxford University Press, USA. This book was released on 2015-08-29 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building upon, and celebrating the work of David F. Hendry, this volume consists of a number of specially commissioned pieces from some of the leading econometricians in the world. It reflects on the recent advances in econometrics and considers the future progress for the methodology of econometrics.

The Art and Science of Econometrics

Author : Ping Zong
Publisher : Routledge
ISBN 13 : 1000580245
Total Pages : 256 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis The Art and Science of Econometrics by : Ping Zong

Download or read book The Art and Science of Econometrics written by Ping Zong and published by Routledge. This book was released on 2022-05-02 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today econometrics has been widely applied in the empirical study of economics. As an empirical science, econometrics uses rigorous mathematical and statistical methods for economic problems. Understanding the methodologies of both econometrics and statistics is a crucial departure for econometrics. The primary focus of this book is to provide an understanding of statistical properties behind econometric methods. Following the introduction in Chapter 1, Chapter 2 provides the methodological review of both econometrics and statistics in different periods since the 1930s. Chapters 3 and 4 explain the underlying theoretical methodologies for estimated equations in the simple regression and multiple regression models and discuss the debates about p-values in particular. This part of the book offers the reader a richer understanding of the methods of statistics behind the methodology of econometrics. Chapters 5–9 of the book are focused on the discussion of regression models using time series data, traditional causal econometric models, and the latest statistical techniques. By concentrating on dynamic structural linear models like state-space models and the Bayesian approach, the book alludes to the fact that this methodological study is not only a science but also an art. This work serves as a handy reference book for anyone interested in econometrics, particularly in relevance to students and academic and business researchers in all quantitative analysis fields.

Yes, Econometrics is Alchemy

Author : Morong Yang
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Yes, Econometrics is Alchemy by : Morong Yang

Download or read book Yes, Econometrics is Alchemy written by Morong Yang and published by . This book was released on 2016 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Econometrics is considered scientific under two notions: it applies statistical method for analyzing economic data; and it is empirical. This paper refutes these two notions. As regression just calculates mathematically, instead of statistically, coefficients which are unique to a specific model and dataset, there is nonexistence of t-statistic and therefore noninvolvement of statistical method in econometrics. Econometrics is not empirical because it neither investigates particular situations nor determines kinds. On the other hand, econometrics, by letting an uncontrollable error term in regression models, allows researchers to try any models for finding the results they want. This in turn easily makes econometrics a kind of con job. For all multi regression models, econometrics is essentially working on abstract numbers of no existential reference. These defects determine that econometrics cannot be saved. Preliminary evidences show that econometrics is just alchemy. Application of econometrics to verifying asset pricing models is one of the typical illustrations of the assertion.

Econometrics

Author : Badi Hani Baltagi
Publisher : Springer Science & Business Media
ISBN 13 : 9783540435013
Total Pages : 426 pages
Book Rating : 4.4/5 (35 download)

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Book Synopsis Econometrics by : Badi Hani Baltagi

Download or read book Econometrics written by Badi Hani Baltagi and published by Springer Science & Business Media. This book was released on 2002 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: As well as specification testing, Gauss-Newton regressions and regression diagnostics. In addition, the book features a set of empirical illustrations that demonstrate some of the basic results. The empirical exercises are solved using several econometric software packages.

Cohort Analysis in Social Research

Author : W.M. Mason
Publisher : Springer Science & Business Media
ISBN 13 : 1461385369
Total Pages : 402 pages
Book Rating : 4.4/5 (613 download)

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Book Synopsis Cohort Analysis in Social Research by : W.M. Mason

Download or read book Cohort Analysis in Social Research written by W.M. Mason and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The existence of the present volume can be traced to methodological concerns about cohort analysis, all of which were evident throughout most of the social sciences by the late 1970s. For some social scientists, they became part of a broader discussion concerning the need for new analytical techniques for research based on longitudinal data. In 1976, the Social Science Research Council (SSRC), with funds from the National Institute of Education, established a Committee on the Methodology of Longitudinal Research. (The scholars who comprised this committee are listed at the front of this volume. ) As part of the efforts of this Committee, an interdisciplinary conference on cohort analysis was held in the summer of 1979, in Snowmass, Colorado. Much of the work presented here stems from that conference, the purpose of which was to promote the development of general methodological tools for the study of social change. The conference included five major presentations by (1) William Mason and Herbert Smith, (2) Karl J6reskog and Dag S6rbom, (3) Gregory Markus, (4) John Hobcraft, Jane Menken and Samuel Preston, and (5) Stephen Fienberg and William Mason. The formal presentations were each followed by extensive discussion, which involved as participants: Paul Baltes, William Butz, Philip Converse, Otis Dudley Duncan, David Freedman, William Meredith, John Nesselroade, Daniel Price, Thomas Pullum, Peter Read, Matilda White Riley, Norman Ryder, Warren Sanderson, Warner Schaie, Burton Singer, Nancy Tuma, Harrison White, and Halliman Winsborough.

Time Series Econometrics

Author : John D. Levendis
Publisher : Springer
ISBN 13 : 3319982826
Total Pages : 409 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Time Series Econometrics by : John D. Levendis

Download or read book Time Series Econometrics written by John D. Levendis and published by Springer. This book was released on 2019-01-31 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, the author rejects the theorem-proof approach as much as possible, and emphasize the practical application of econometrics. They show with examples how to calculate and interpret the numerical results. This book begins with students estimating simple univariate models, in a step by step fashion, using the popular Stata software system. Students then test for stationarity, while replicating the actual results from hugely influential papers such as those by Granger and Newbold, and Nelson and Plosser. Readers will learn about structural breaks by replicating papers by Perron, and Zivot and Andrews. They then turn to models of conditional volatility, replicating papers by Bollerslev. Finally, students estimate multi-equation models such as vector autoregressions and vector error-correction mechanisms, replicating the results in influential papers by Sims and Granger. The book contains many worked-out examples, and many data-driven exercises. While intended primarily for graduate students and advanced undergraduates, practitioners will also find the book useful.

Econometrics and the Philosophy of Economics

Author : Bernt P. Stigum
Publisher : Princeton University Press
ISBN 13 : 0691168245
Total Pages : 794 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Econometrics and the Philosophy of Economics by : Bernt P. Stigum

Download or read book Econometrics and the Philosophy of Economics written by Bernt P. Stigum and published by Princeton University Press. This book was released on 2015-12-29 with total page 794 pages. Available in PDF, EPUB and Kindle. Book excerpt: As most econometricians will readily agree, the data used in applied econometrics seldom provide accurate measurements for the pertinent theory's variables. Here, Bernt Stigum offers the first systematic and theoretically sound way of accounting for such inaccuracies. He and a distinguished group of contributors bridge econometrics and the philosophy of economics--two topics that seem worlds apart. They ask: How is a science of economics possible? The answer is elusive. Economic theory seems to be about abstract ideas or, it might be said, about toys in a toy community. How can a researcher with such tools learn anything about the social reality in which he or she lives? This book shows that an econometrician with the proper understanding of economic theory and the right kind of questions can gain knowledge about characteristic features of the social world. It addresses varied topics in both classical and Bayesian econometrics, offering ample evidence that its answer to the fundamental question is sound. The first book to comprehensively explore economic theory and econometrics simultaneously, Econometrics and the Philosophy of Economics represents an authoritative account of contemporary economic methodology. About a third of the chapters are authored or coauthored by Heather Anderson, Erik Biørn, Christophe Bontemps, Jeffrey A. Dubin, Harald E. Goldstein, Clive W.J. Granger, David F. Hendry, Herman Ruge-Jervell, Dale W. Jorgenson, Hans-Martin Krolzig, Nils Lid Hjort, Daniel L. McFadden, Grayham E. Mizon, Tore Schweder, Geir Storvik, and Herman K. van Dijk.

Promethean Ambitions

Author : William R. Newman
Publisher : University of Chicago Press
ISBN 13 : 0226575241
Total Pages : 351 pages
Book Rating : 4.2/5 (265 download)

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Book Synopsis Promethean Ambitions by : William R. Newman

Download or read book Promethean Ambitions written by William R. Newman and published by University of Chicago Press. This book was released on 2004 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an age when the nature of reality is complicated daily by advances in bioengineering, cloning, and artificial intelligence, it is easy to forget that the ever-evolving boundary between nature and technology has long been a source of ethical and scientific concern: modern anxieties about the possibility of artificial life and the dangers of tinkering with nature more generally were shared by opponents of alchemy long before genetic science delivered us a cloned sheep named Dolly. In Promethean Ambitions, William R. Newman ambitiously uses alchemy to investigate the thinning boundary between the natural and the artificial. Focusing primarily on the period between 1200 and 1700, Newman examines the labors of pioneering alchemists and the impassioned—and often negative—responses to their efforts. By the thirteenth century, Newman argues, alchemy had become a benchmark for determining the abilities of both men and demons, representing the epitome of creative power in the natural world. Newman frames the art-nature debate by contrasting the supposed transmutational power of alchemy with the merely representational abilities of the pictorial and plastic arts—a dispute which found artists such as Leonardo da Vinci and Bernard Palissy attacking alchemy as an irreligious fraud. The later assertion by the Paracelsian school that one could make an artificial human being—the homunculus—led to further disparagement of alchemy, but as Newman shows, the immense power over nature promised by the field contributed directly to the technological apologetics of Francis Bacon and his followers. By the mid-seventeenth century, the famous "father of modern chemistry," Robert Boyle, was employing the arguments of medieval alchemists to support the identity of naturally occurring substances with those manufactured by "chymical" means. In using history to highlight the art-nature debate, Newman here shows that alchemy was not an unformed and capricious precursor to chemistry; it was an art founded on coherent philosophical and empirical principles, with vocal supporters and even louder critics, that attracted individuals of first-rate intellect. The historical relationship that Newman charts between human creation and nature has innumerable implications today, and he ably links contemporary issues to alchemical debates on the natural versus the artificial.

Solutions Manual for Econometrics

Author : Badi H. Baltagi
Publisher : Springer
ISBN 13 : 3642545483
Total Pages : 410 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Solutions Manual for Econometrics by : Badi H. Baltagi

Download or read book Solutions Manual for Econometrics written by Badi H. Baltagi and published by Springer. This book was released on 2014-09-01 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Third Edition updates the "Solutions Manual for Econometrics" to match the Fifth Edition of the Econometrics textbook. It adds problems and solutions using latest software versions of Stata and EViews. Special features include empirical examples using EViews and Stata. The book offers rigorous proofs and treatment of difficult econometrics concepts in a simple and clear way, and it provides the reader with both applied and theoretical econometrics problems along with their solutions.

Modern Econometric Analysis

Author : Olaf Hübler
Publisher : Springer Science & Business Media
ISBN 13 : 3540326936
Total Pages : 236 pages
Book Rating : 4.5/5 (43 download)

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Book Synopsis Modern Econometric Analysis by : Olaf Hübler

Download or read book Modern Econometric Analysis written by Olaf Hübler and published by Springer Science & Business Media. This book was released on 2007-04-29 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book leading German econometricians in different fields present survey articles of the most important new methods in econometrics. The book gives an overview of the field and it shows progress made in recent years and remaining problems.

Advances in Econometrics, Income Distribution and Scientific Methodology

Author : Daniel J. Slottje
Publisher : Physica
ISBN 13 : 9783642936425
Total Pages : 388 pages
Book Rating : 4.9/5 (364 download)

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Book Synopsis Advances in Econometrics, Income Distribution and Scientific Methodology by : Daniel J. Slottje

Download or read book Advances in Econometrics, Income Distribution and Scientific Methodology written by Daniel J. Slottje and published by Physica. This book was released on 2012-02-07 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Articles on econometric methodology with special reference to the quantification of poverty and economic inequality are presented in this book. Poverty and inequality measurement present special problems to the econometrician, and most of these papers analyze how to attack those problems. The topics and contributions in the book are a very good representation of Camilo Dagum's astounding diversity of interests and overall eclecticism. Several of the authors are leading pioneers in econometric methodology. Several others are pioneers in economic theory and others are the leading applied economists in income distribution analysis in the world. The topics accurately reflect Camilo Dagum's breadth of understanding across varios economic sub-fields, all complex in nature.

A History of Econometrics

Author : R.J. Epstein
Publisher : Elsevier
ISBN 13 : 1483294226
Total Pages : 267 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis A History of Econometrics by : R.J. Epstein

Download or read book A History of Econometrics written by R.J. Epstein and published by Elsevier. This book was released on 2014-06-28 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comparative historical study of econometrics focuses on the development of econometric methods and their application to macroeconomics.The analysis covers the origins of modern econometrics in the USA and Europe during the 1920's and 30's, the rise of `structural estimation' in the 1940's and 50's as the dominant research paradigm, and the crisis of the large macroeconomic models in the 1970's and 80's.The completely original feature of this work is the use of previously unknown manuscript material from the archives of the Cowles Commission and other collections. The history so constructed shows that recent debates over methodology are incomplete without understanding the many deep criticisms that were first raised by the earliest researchers in the field.