The Econometric Analysis of Economic Policy

Anindya Banerjee, David Hendry and Grayham Mizon

Oxford Bulletin of Economics and Statistics, 1996, vol. 58, issue 4, 573-600

Abstract: The application of econometric analysis to the process of economic policy formulation is considered. A framework is provided by the theory of reduction, specifically reductions where key information losses would invalidate policy. Consequently, model evaluation, the role of econometric models, forecasting, exogeneity, causality, constancy and invariance, unobservables, seasonality, and data integrability are considered, together with specific policy issues where econometrics can clarify the problems. Copyright 1996 by Blackwell Publishing Ltd

Date: 1996
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Oxford Bulletin of Economics and Statistics is currently edited by Christopher Adam, Anindya Banerjee, Christopher Bowdler, David Hendry, Adriaan Kalwij, John Knight and Jonathan Temple

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