How Long to Read Econometrics in a Formal Science of Economics

How Long Does it Take to Read Econometrics in a Formal Science of Economics?

It takes the average reader to read Econometrics in a Formal Science of Economics by Bernt P. Stigum

Assuming a reading speed of 250 words per minute. Learn more

Description

An examination of the role of theory in applied econometrics. Econometrics is a study of good and bad ways to measure economic relations. In this book, Bernt Stigum considers the role that economic theory ought to play in such measurements and proposes a formal science of economics that provides the means to solve the measurement problems faced by econometric researchers. After describing the salient parts of a formal science of economics, Stigum compares its methods with the methods of contemporary applied econometrics. His goal is to develop a basis for meaningful discussion of the best way to incorporate economic theory in empirical analysis. Stigum conceives two scenarios for research in applied econometrics: contemporary econometrics in the tradition of Trygve Haavelmo and the formal theory-data confrontation envisioned by Ragnar Frisch. Stigum presents case studies of economic phenomena, contrasting the empirical analysis prescribed by contemporary applied econometrics with the empirical analysis prescribed by a formal theory-data confrontation. He finds significant and provocative differences. Which are we to believe when the statistical analyses of these two methodologies yield very different descriptions of the behavior characteristics of data variables and inferences about social reality? Stigum points to three aspects of contemporary econometric methodology that may benefit from serious discussions: the analysis of positively valued time series, a suspect characteristic of qualitative response models, and the search for linearly cointegrated time series. These three aspects are of as much concern to formal econometrics as they are to contemporary econometrics.

How long is Econometrics in a Formal Science of Economics?

Econometrics in a Formal Science of Economics by Bernt P. Stigum is 0 pages long, and a total of 0 words.

This makes it 0% the length of the average book. It also has 0% more words than the average book.

How Long Does it Take to Read Econometrics in a Formal Science of Economics Aloud?

The average oral reading speed is 183 words per minute. This means it takes to read Econometrics in a Formal Science of Economics aloud.

What Reading Level is Econometrics in a Formal Science of Economics?

Econometrics in a Formal Science of Economics is suitable for students ages 2 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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