The Status of Bridge Principles in Applied Econometrics
AbstractThe paper begins with a figurative representation of the contrast between present-day and formal applied econometrics. An explication of the status of bridge principles in applied econometrics follows. To illustrate the concepts used in the explication, the paper presents a simultaneous-equation model of the equilibrium configurations of a perfectly competitive commodity market. With artificially generated data I carry out two empirical analyses of such a market that contrast the prescriptions of formal econometrics in the tradition of Ragnar Frisch with the commands of present-day econometrics in the tradition of Trygve Haavelmo. At the end I demonstrate that the bridge principles I use in the formal-econometric analysis are valid in the Real World—that is in the world in which my data reside. View Full-Text
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Stigum, B.P. The Status of Bridge Principles in Applied Econometrics. Econometrics 2016, 4, 50.
Stigum BP. The Status of Bridge Principles in Applied Econometrics. Econometrics. 2016; 4(4):50.Chicago/Turabian Style
Stigum, Bernt P. 2016. "The Status of Bridge Principles in Applied Econometrics." Econometrics 4, no. 4: 50.