Model discovery and Trygve Haavelmo's legacy
Trygve Haavelmo's Probability Approach aimed to implement economic theories, but he later recognized their incompleteness. Although he did not explicitly consider model selection, we apply it when theory-relevant variables, {X }, are retained without selection while selecting other candidate va...
Main Authors: | Hendry, DF, Johansen, S |
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Format: | Journal article |
Language: | English |
Published: |
Cambridge University Press
2014
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