The Experiment in Macroeconometrics

Anna Staszewska-Bystrova and John Aldrich

Discussion Paper Series In Economics And Econometrics from University of Southampton, Economics Division, School of Social Sciences

Abstract: This paper examines the experiment in macroeconometrics, the different forms it has taken and the rules that have been proposed for its proper conduct. Here an "experiment" means putting a question to a model and getting an answer. Different types of experiment are distinguished and the justification that can be provided for a particular choice of experiment is discussed. Three types of macroeconometric modelling are considered: the Cowles (system of equations) approach, the vector autoregressive model approach and the computational experiment. Keywords; experiment, impulse response analysis, ceteris paribus, structural invariance JEL classification: B41, C5, E37

New Economics Papers: this item is included in nep-cba, nep-cmp and nep-mac

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http://www.socsci.soton.ac.uk/Economics/Research/Discussion_Papers/2006/0604.pdf

Related works:
Working Paper: The experiment in macroeconometrics (2006)
Journal Article: The experiment in macroeconometrics (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:stn:sotoec:0604

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