Methodological mistakes and econometric consequences

Asad Zaman

MPRA Paper from University Library of Munich, Germany

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: B16 C19 (search for similar items in EconPapers)
Date: 2012-08-30
New Economics Papers: this item is included in nep-ecm and nep-hme
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Citations: View citations in EconPapers (10)

Published in International Econometric Review 2.4(2012): pp. 99-122

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Related works:
Journal Article: Methodological Mistakes and Econometric Consequences (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41032

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