The status of bridge principles in applied econometrics

Artikel

The 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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Econometrics ; ISSN: 2225-1146 ; Volume: 4 ; Year: 2016 ; Issue: 4 ; Pages: 1-22 ; Basel: MDPI

Classification and Topics

• Classification: Wirtschaft ; Relation of Economics to Other Disciplines ; General Economics: Other ; History of Economic Thought: Quantitative and Mathematical ; Economic Methodology ; Econometrics ; Methodological Issues: General ; Multiple or Simultaneous Equation Models; Multiple Variables: General ; Econometric and Statistical Methods: Special Topics: Other ; Model Evaluation, Validation, and Selection ; Market Structure, Pricing, and Design: Perfect Competition ; General Equilibrium and Disequilibrium: Other
• Subject: present-day econometrics ; formal econometrics ; theory-data confrontation ; bridge principles ; applied econometrics

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Stigum, Bernt P.
• Event: Veröffentlichung
• (who): MDPI
• (where): Basel
• (when): 2016

Further information

• DOI: doi:10.3390/econometrics4040050
• Handle: http://hdl.handle.net/10419/171891
• Last update: 10.03.2025, 11:45 AM CET