Methodological Mistakes and Econometric Consequences

Asad Zaman

International Econometric Review (IER), 2012, vol. 4, issue 2, 99-122

Abstract: Econometric Methodology is based on logical positivist principles. Since logical positivism has collapsed, it is necessary to re-think these foundations. We show that positivist methodology has led econometricians to a meaningless search for patterns in the data. An alternative methodology which relates observed patterns to real causal structures is proposed.

Keywords: Econometric Methodology; logical positivism; realism; causality; VAR models; Forecasting; surprise; goodness of fit. (search for similar items in EconPapers)
JEL-codes: B40 C18 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (7)

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Working Paper: Methodological mistakes and econometric consequences (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:erh:journl:v:4:y:2012:i:2:p:99-122

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