PUTTING THE "ECON" INTO ECONOMETRICS
Jeffrey Dorfman and
No 20874, 1998 Annual meeting, August 2-5, Salt Lake City, UT from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Should econometricians always incorporate economic theory in their models or only when unrestricted estimators are found to violate an inviolable theory? Using Monte Carlo experiments, we find that econometricians should use economic theory to the fullest extent possible. To paraphrase Leamer's classic article, we should put the "econ" into econometrics.
Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
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