The Credibility Revolution in Applied Econometric Research
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| Title | The Credibility Revolution in Applied Econometric Research
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| Author | Wang Meijin and Lin Jianhao |
| Organization | Lingnan College, Sun Yat-Sen University |
| Email | lnswmj@mail.sysu.edu.cn，hzcg9@126.com |
| Key Words | Credibility Revolution; Stochastic Specification; Identification of Causal Effect; Statistical Adequacy |
| Abstract | The credibility of applied econometrics is an important issue, and its core lies in the scientific combination of economic theory, statistics with mathematics. Based on the three focused discussions among econometricians, this paper clarifies the essence of the econometric way of exploring real economic world. In China, the abuse and misuse of econometric method in empirical work has attracted wide attention. We elaborate three sources of the credibility: the stochastic specification, identification of causal effect among economic variables and the evaluation on statistical adequacy. To improve the credibility of the applied econometric studies, we need to draw upon the achievements of the credibility revolution and change the modes of research and teaching. |
| Serial Number | WP242 |
| Time | 2012-03-31 |
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