The Nonlinear Skeletons in the Closet

William Barnett (), Barry Edward Jones (), Milka Kirova, Travis Dean Nesmith () and Meenakshi Pasupathy
Additional contact information
Milka Kirova: Washington University
Meenakshi Pasupathy: Bernard Baruch School - CUNY

Econometrics from EconWPA

Abstract: Although nonlinearity is the rule in economic theory, nonlinearity tends to make life difficult for econometricians. While there have been many advances in nonlinear econometrics in recent years, some problems produced by nonlinearity remain 'skeletons in the closet' in empirical economic research. In this paper, we open the door to that closet and take a look at two of the biggest skeletons. For a deeper look into that closet, see the just-published book by W. A. Barnett and Jane Binner (2004), Functional Structure and Approximation in Econometrics, North Holland, Elsevier Science.

Keywords: nonlinearity; curvature; regularity; cointegration; bispectrum; chaos; bifurcation (search for similar items in EconPapers)
JEL-codes: C14 C22 E37 E32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm and nep-hpe
Date: Written
Note: Type of Document - doc; pages: 45. This paper is forthcoming in Michael Belongia and Jane Binner (eds), Money, Measurement, and Computation, Palgrave.
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Related works:
Working Paper: The Nonlinear Skeletons in the Closet (2004)
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpem:0405003

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