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The Resource Econometrics in a formal science of economics : theory and the measurement of economic relations, Bernt P. Stigum

Econometrics in a formal science of economics : theory and the measurement of economic relations, Bernt P. Stigum

Label
Econometrics in a formal science of economics : theory and the measurement of economic relations
Title
Econometrics in a formal science of economics
Title remainder
theory and the measurement of economic relations
Statement of responsibility
Bernt P. Stigum
Creator
Author
Subject
Language
eng
Summary
Econometrics is a study of good and bad ways to measure economic relations. In this book, Bernt Stigum considers the role that economic theory ought to play in such measurements and proposes a formal science of economics that provides the means to solve the measurement problems faced by econometric researchers. After describing the salient parts of a formal science of economics, Stigum compares its methods with the methods of contemporary applied econometrics. His goal is to develop a basis for meaningful discussion of the best way to incorporate economic theory in empirical analysis. Stigum conceives two scenarios for research in applied econometrics: contemporary econometrics in the tradition of Trygve Haavelmo and the formal theory-data confrontation envisioned by Ragnar Frisch. Stigum presents case studies of economic phenomena, contrasting the empirical analysis prescribed by contemporary applied econometrics with the empirical analysis prescribed by a formal theory-data confrontation. He finds significant and provocative differences. Which are we to believe when the statistical analyses of these two methodologies yield very different descriptions of the behavior characteristics of data variables and inferences about social reality? Stigum points to three aspects of contemporary econometric methodology that may benefit from serious discussions: the analysis of positively valued time series, a suspect characteristic of qualitative response models, and the search for linearly cointegrated time series. These three aspects are of as much concern to formal econometrics as they are to contemporary econometrics.--
Assigning source
Provided by publisher
Cataloging source
DLC
http://library.link/vocab/creatorName
Stigum, Bernt P
Dewey number
330.01/5195
Illustrations
illustrations
Index
index present
LC call number
HB139
LC item number
.S7575 2015
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Econometrics
  • Econometric models
Label
Econometrics in a formal science of economics : theory and the measurement of economic relations, Bernt P. Stigum
Instantiates
Publication
Copyright
Bar code
31223131142359
Bibliography note
Includes bibliographical references (pages 363-372) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
To the reader -- Acknowledgments -- Introduction -- A vision of a science of economics -- Empirical relevance -- Qualitative response models -- A cross-section analysis of an economic theory -- Theory-data confrontations with time-series data -- Analysis of positively valued economic time-series -- Non-linear cointegration in foreign exchange -- Scientific explanation in economics and econometrics -- Bridge principles and theory in applied econometrics -- Notes -- References -- Index
Dimensions
24 cm
Extent
xii, 375 pages
Isbn
9780262028585
Lccn
2014016744
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other control number
12140791
Other physical details
illustrations
System control number
(OCoLC)880122501
Label
Econometrics in a formal science of economics : theory and the measurement of economic relations, Bernt P. Stigum
Publication
Copyright
Bar code
31223131142359
Bibliography note
Includes bibliographical references (pages 363-372) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
To the reader -- Acknowledgments -- Introduction -- A vision of a science of economics -- Empirical relevance -- Qualitative response models -- A cross-section analysis of an economic theory -- Theory-data confrontations with time-series data -- Analysis of positively valued economic time-series -- Non-linear cointegration in foreign exchange -- Scientific explanation in economics and econometrics -- Bridge principles and theory in applied econometrics -- Notes -- References -- Index
Dimensions
24 cm
Extent
xii, 375 pages
Isbn
9780262028585
Lccn
2014016744
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other control number
12140791
Other physical details
illustrations
System control number
(OCoLC)880122501

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