Transforming structural econometrics: substantive vs. statistical premises of inference

摘要: ABSTRACTHow could one transform structural econometrics with a view to deliver empirical models that generate reliable inferences and trustworthy evidence for or against theories claims, as well provide trustable guidance economic policy makers? Nell Errouaki, in Rational Econometric Man: Transforming Structural Econometrics, put forward their proposal on how achieve that, by discussing the effectiveness of alternative proposals literature. There is lot agree this book, but primary aim note initiate dialogue issues where opinions differ econometrics. The discussion focuses what I consider crucial aspect modeling—statistical adequacy—but authors question its practical usefulness modeling. will attempt make case ‘methodological institutionalism’ cannot be properly implemented without employing notion statistical adequacy.