Statistics & Econometrics

Created
Sat, 29/03/2025 - 08:30
Mainstream economists often hold the view that criticisms of econometrics are the conclusions of sadly misinformed and misguided people who dislike and do not understand much of it. This is really a gross misapprehension. To be careful and cautious is not the same as to dislike. Any perusal of the mathematical-statistical and philosophical works of Nancy […]
Created
Mon, 24/03/2025 - 01:34
When econometric and statistical textbooks present simple (and multiple) regression analysis for cross-sectional data, they often do it with regressions like “regress test score (y) on study hours (x)” and get the result y = constant + slope coefficient*x + error term. When speaking of increases or decreases in x in these interpretations, we have […]
Created
Wed, 05/02/2025 - 03:57
Mainstream economists often hold the view that Keynes’ criticism of econometrics resulted from a sadly misinformed and misguided person who disliked and did not understand much of it. This is, however, nothing but a gross misapprehension. To be careful and cautious is not the same as to dislike. Keynes did not misunderstand the crucial issues […]
Created
Sat, 18/01/2025 - 02:11
The point of the discussion, of course, has to do with where Koopmans thinks we should look for “autonomous behaviour relations”. He appeals to experience but in a somewhat oblique manner. He refers to the Harvard barometer “to show that relationships between economic variables … not traced to underlying behaviour equations are unreliable as instruments […]