The experiment in macroeconometrics

John Aldrich and Anna Staszewska-Bystrova

Journal of Economic Methodology, 2007, vol. 14, issue 2, 143-166

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. JEL Classifications: B41, C5, E37

Keywords: experiment; impulse response analysis; ceteris paribus; structural invariance (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1080/13501780701394060

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