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A COMMENT ON SIEGFRIED'S FIRST LESSON IN ECONOMETRICS
Author(s) -
ELDRIDGE DAMIEN S.
Publication year - 2014
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12041
Subject(s) - mistake , confusion , economics , econometrics , simple (philosophy) , mathematical economics , law , epistemology , political science , psychology , philosophy , psychoanalysis
In an insightful, and delightfully short, paper that was published in the Journal of Political Economy in 1970, Siegfried provided an important lesson about econometric methodology for all budding young econometricians. Unfortunately, there is a mistake in that paper. This short comment provides a simple correction for that mistake. This correction will hopefully enable econometrics students to obtain the fundamental insights from Siegfried's paper with less confusion than might otherwise have been the case. (JEL A20, C01, C10 )