Logical Gaps: Path C—Empirical Results to the Real World

Stuart Birks ()
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Stuart Birks: Massey University

Chapter Chapter 4 in Rethinking Economics, 2015, pp 47-67 from Springer

Abstract: Abstract There are statistical criteria which are commonly used to determine the value of empirical results. Good performance under these criteria does not necessarily imply value for policy making. The rhetoric around such results can be influential, but may not be justified. Results are frequently misinterpreted. There are problems with some of the tests, as with hypothesis testing and the fallacy of the transposed conditional. A limited range of resulting policy options is considered. Numerous standard policy questions are not addressed, including ease of changeChang, H.-J. and the costs and benefits of change. A further issue, the use of data to show advantage or disadvantage, is discussed.

Keywords: Econometrics; Policy; Statistical significance; Disadvantage (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-981-287-176-3_4

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