In Praise of Confidence Intervals

David Romer

No 26672, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Most empirical papers in economics focus on two aspects of their results: whether the estimates are statistically significantly different from zero and the interpretation of the point estimates. This focus obscures important information about the implications of the results for economically interesting hypotheses about values of the parameters other than zero, and in some cases, about the strength of the evidence against values of zero. This limitation can be overcome by reporting confidence intervals for papers’ main estimates and discussing their economic interpretation.

JEL-codes: C10 C12 (search for similar items in EconPapers)
Date: 2020-01
New Economics Papers: this item is included in nep-ecm
Note: EFG LS ME
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Citations: View citations in EconPapers (12)

Published as David Romer, 2020. "In Praise of Confidence Intervals," AEA Papers and Proceedings, vol 110, pages 55-60.

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Journal Article: In Praise of Confidence Intervals (2020)
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