Journal article
Beyond the stars
- Abstract:
- It is frequent to hear in economic seminars or read in academic papers that an effect is economically significant or economically important. Yet, the economic literature is vague on what economic importance means and how it should be measured. In this paper, I show that existing measures of economic importance are flawed and misused. I derive a new metric that measures, in percentage terms, the contribution of each explanatory variable to deviations in the dependent variable, ceteris paribus. As an illustration, the method is applied to study the determinants of migration and the determinants of fertility.
- Publication status:
- Published
- Peer review status:
- Peer reviewed
Actions
Access Document
- Files:
-
-
(Preview, Accepted manuscript, pdf, 1.5MB, Terms of use)
-
- Publisher copy:
- 10.1111/joes.12330
Authors
- Publisher:
- Wiley
- Journal:
- Journal of Economic Surveys More from this journal
- Volume:
- 33
- Issue:
- 5
- Pages:
- 1409-1436
- Publication date:
- 2019-08-06
- Acceptance date:
- 2019-06-12
- DOI:
- EISSN:
-
1467-6419
- ISSN:
-
0950-0804
- Language:
-
English
- Keywords:
- Pubs id:
-
pubs:1019447
- UUID:
-
uuid:6825dd96-9e4c-4272-a7e4-27953c3cc7bb
- Local pid:
-
pubs:1019447
- Source identifiers:
-
1019447
- Deposit date:
-
2019-06-19
- ARK identifier:
Terms of use
- Copyright holder:
- John Wiley & Sons Ltd.
- Copyright date:
- 2019
- Rights statement:
- © 2019 John Wiley & Sons Ltd.
- Notes:
- This is the accepted manuscript version of the article. The final version is available online from Wiley at: https://doi.org/10.1111/joes.12330
If you are the owner of this record, you can report an update to it here: Report update to this record