Lessons in Econometric Methodology: The Axiom of Correct Specification
Leamer first pointed out that a regression model is valid only if all of the assumptions under which it is constructed are valid. In particular, this means that all of relevant regressors which are determinants must be included. In practice, applied econometricians assume that whatever model they...
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| Format: | Article |
| Language: | English |
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Econometric Research Association
2017-09-01
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| Series: | International Econometric Review |
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| Online Access: | http://www.era.org.tr/makaleler/337657.pdf |