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On Congruent Econometric Relations: A Comment.

Abstract:

The paper responds to the claimed criticisms in Faust and Whiteman (1997) of the ‘LSE’ approach to empirical macro-econometrics. Their bold attempt to inter-relate ‘alternative methodologies’ is undone by misconceptions which lead them to incorrect conclusions. To clarify the analysis, the notion of structure is reviewed to underpin sustainable econometric relations, then identification and exogeneity are reconsidered. The theory of reduction and modelling stra...

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Publication status:
Published
Version:
Accepted Manuscript

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Publisher copy:
10.1016/S0167-2231(98)00008-6

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Institution:
University of Oxford
Publisher:
Elsevier Science B.V.
Journal:
Carnegie-Rochester Conference Series on Public Policy Journal website
Volume:
47
Publication date:
1997-12-05
DOI:
URN:
uuid:df834621-71c4-4ed5-b02d-209eaab8a921
Local pid:
oai:economics.ouls.ox.ac.uk:10377
Language:
English

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