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THREE ECONOMETRIC METHODOLOGIES: A CRITICAL APPRAISAL 1
Author(s) -
Pagan Adrian
Publication year - 1987
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/j.1467-6419.1987.tb00022.x
Subject(s) - critical appraisal , strengths and weaknesses , statement (logic) , contrast (vision) , econometrics , task (project management) , economics , positive economics , computer science , operations research , epistemology , management , mathematics , philosophy , artificial intelligence , medicine , alternative medicine , pathology
. Three econometric methodologies, associated respectively with David Hendry, Christopher Sims and Edward Leamer have been advocated and practiced by their adherents in recent years. A number of good papers have appeared about each methodology, but little has been written in a comparative vein. This paper is concerned with that task. It provides a statement of the main steps to be followed in using each of the methodologies and comments upon the strengths and weaknesses of each approach. An attempt is made to contrast and compare the techniques used, the information provided, and the questions addressed by each of the methodologies. It is hoped that such a comparison will aid researchers in choosing the best way to examine their particular problem.