The Econometric Analysis of Economic Policy.
The application of econometric analysis to the process of economic policy formulation is considered. A framework is provided by the theory of reduction, specifically reductions where key information losses would invalidate policy. Consequently, model evaluation, t...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Blackwell Publishers
1996
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| Summary: | The application of econometric analysis to the process of economic policy formulation is considered. A framework is provided by the theory of reduction, specifically reductions where key information losses would invalidate policy. Consequently, model evaluation, the role of econometric models, forecasting, exogeneity, causality, constancy and invariance, unobservables, seasonality, and data integrability are considered, together with specific policy issues where econometrics can clarify the problems. |
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