Rational Econometric Man: Transforming Structural Econometrics

0 avg rating
( 0 ratings by Goodreads )
 
9781849801546: Rational Econometric Man: Transforming Structural Econometrics
View all copies of this ISBN edition:
 
 

'This is a book macroeconomists were waiting for - a lucid history of macroeconometric model building. A must read.'
- Willi Semmler, New School for Social Research, US

'The authors have succeeded in orchestrating a lively debate over the scientific foundations of structural econometrics. Their book deserves a broad readership.'
- From the foreword by Lawrence R. Klein

'The wide range of issues brilliantly discussed, the entertaining and accessible language, the sharpness of the authors' judgement and the constructive critical mood makes this book recommended reading for anyone who feels uneasy with the empirical scope and policy significance of standard econometric methods and of mainstream economic models.'
- Alessandro Vercelli, University of Siena, Italy

This challenging and original book takes a fresh, innovative look at econometrics, and re-examines the scientific standing of structural econometrics as developed by the founders (Frisch and Tinbergen) and extended by Haavelmo and the Cowles modellers (particularly Klein) during the period 1930-1960.

The authors begin by rethinking the scientific foundations of structural econometrics, offering a way around the problem of induction that also justifies the assumption of a data generating mechanism', and of ways to model this. They go on to explain how current critiques of the methodological foundations of structural econometrics are direct consequences of implicitly accepted but seriously flawed elements in neoclassical thinking. In the final part they present their distinctive methodological contribution: a blend of fieldwork and conceptual analysis designed to ensure that their models are well grounded in reality, and at the same time, conceptually coherent as well as statistically adequate. In so doing, they outline a number of elements that will be needed to develop a 'good' macroeconometric model of an advanced economy.

Rational Econometric Man will prove a stimulating and thought-provoking read for scholars and researchers in the field of economics, and, more specifically, heterodox economics.

Contents:
Foreword by Lawrence R. Klein
Introduction
Part I: From Rational Economic Man to Rational Econometric Man
1. Re-reading Hollis and Nell
2. Haavelmo Reconsidered as Rational Econometric Man
3. Induction and the Empiricist Account of General Laws
4. Variables, Laws and Induction I: Are There Laws of Nature?
5. Variables, Laws and Induction II: Scientific Variables and Scientific Laws in Economics
6. The Concept of the 'Model' and the Methodology of Model Building
Part II: The Critiques and the Foundations
7. Debating the Foundations: A New Perspective?
8. Scientific Issues in Structural Econometrics
9. Haavelmo and Beyond: Probability, Uncertainty, Specification and Stochasticism
Part III: Structural Econometrics in its Place: Mapping New Directions
10. Conceptual Analysis, Fieldwork and the Methodology of Model Building
11. Working with Open Models: Lawlike Relations and an Uncertain Future
Conclusion
References
Index

"synopsis" may belong to another edition of this title.

About the Author:

Edward J. Nell, Malcolm B. Smith Professor of Economics, New School for Social Research, US and Karim Errouaki, Special Advisor, Foundation for the Culture of Peace, Spain

Review:

This book represents a bold and imaginative attempt to reconsider the philosophical foundations of econometrics by reevaluating the Cowles Commission project of the 1940s and its subsequent influence on modern econometrics. The reevaluation is based on the Hollis and Nell (1975) perspective, but refocused on econometrics (instead of economics), and inspired by a novel rereading of Haavelmo's work in econometrics. Irrespective of whether one agrees with the authors' evaluation and their reconstruction of the philosophical foundations of econometrics, the book offers a unique opportunity to commence a serious dialogue on how econometrics can provide sound empirical foundations for economics and what such foundations will amount to. The authors raise several crucial issues pertaining to the current practice of econometrics whose constructive discussion can lead to better empirical modeling practices that can hopefully elucidate how the economy works and how to improve its performance. This reconsideration is timely because despite the impressive technical advances, most of the foundational problems bedeviling current econometric modeling remain largely unresolved. --Aris Spanos, Virginia Tech

If you are interested in understanding the underlying philosophical reasons why structural econometrics seems dead, read this book. Not only do the authors provide a comprehensive, stimulating, and provocative account of the debate and literature, they also provide insightful suggestions for improving the bridge over the theory-data gap in economics. Their main suggestion that theorists and econometricians should do more fieldwork to improve not only economic theories but also econometric models is a refreshing breeze of intellectual honesty in a world where the relationship between the theorist and the econometrician has grown stale. --George C. Davis, Virginia Tech

"About this title" may belong to another edition of this title.

Top Search Results from the AbeBooks Marketplace

1.

Edward J. Nell
Published by Edward Elgar Pub
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Hardcover Quantity Available: 1
Seller:
Ohmsoft LLC
(Lake Forest, IL, U.S.A.)
Rating
[?]

Book Description Edward Elgar Pub. Condition: New. Hardcover. Worldwide shipping. FREE fast shipping inside USA (express 2-3 day delivery also available). Tracking service included. Ships from United States of America. Seller Inventory # 1849801541

More information about this seller | Contact this seller

Buy New
US$ 109.65
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

2.

Edward J. Nell; Karim Errouaki
Published by Edward Elgar Pub (2013)
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Hardcover Quantity Available: 1
Seller:
Irish Booksellers
(Portland, ME, U.S.A.)
Rating
[?]

Book Description Edward Elgar Pub, 2013. Condition: New. book. Seller Inventory # M1849801541

More information about this seller | Contact this seller

Buy New
US$ 136.63
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

3.

Edward J. Nell, Karim Errouaki
Published by Edward Elgar Pub (2013)
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Hardcover Quantity Available: 2
Seller:
Murray Media
(North Miami Beach, FL, U.S.A.)
Rating
[?]

Book Description Edward Elgar Pub, 2013. Hardcover. Condition: New. Never used!. Seller Inventory # P111849801541

More information about this seller | Contact this seller

Buy New
US$ 147.78
Convert Currency

Add to Basket

Shipping: US$ 1.99
Within U.S.A.
Destination, Rates & Speeds

4.

Edward J. Nell,Karim Errouaki
Published by Edward Elgar Publishing Ltd 2013-09-17 (2013)
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Quantity Available: 5
Seller:
Chiron Media
(Wallingford, United Kingdom)
Rating
[?]

Book Description Edward Elgar Publishing Ltd 2013-09-17, 2013. Condition: New. Brand new book, sourced directly from publisher. Dispatch time is 24-48 hours from our warehouse. Book will be sent in robust, secure packaging to ensure it reaches you securely. Seller Inventory # NU-MAR-00041064

More information about this seller | Contact this seller

Buy New
US$ 174.59
Convert Currency

Add to Basket

Shipping: US$ 5.57
From United Kingdom to U.S.A.
Destination, Rates & Speeds

5.

Edward J. Nell
Published by Edward Elgar Publishing Ltd (2013)
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Quantity Available: 10
Seller:
Books2Anywhere
(Fairford, GLOS, United Kingdom)
Rating
[?]

Book Description Edward Elgar Publishing Ltd, 2013. HRD. Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Seller Inventory # CA-9781849801546

More information about this seller | Contact this seller

Buy New
US$ 168.79
Convert Currency

Add to Basket

Shipping: US$ 12.53
From United Kingdom to U.S.A.
Destination, Rates & Speeds

6.

Edward J. Nell, Karim Errouaki
Published by Edward Elgar Publishing Ltd, United Kingdom (2014)
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Hardcover Quantity Available: 10
Seller:
Book Depository International
(London, United Kingdom)
Rating
[?]

Book Description Edward Elgar Publishing Ltd, United Kingdom, 2014. Hardback. Condition: New. Language: English . Brand New Book. This challenging and original book takes a fresh, innovative look at econometrics, and re-examines the scientific standing of structural econometrics as developed by the founders (Frisch and Tinbergen) and extended by Haavelmo and the Cowles modellers (particularly Klein) during the period 1930 - 1960. The authors begin by rethinking the scientific foundations of structural econometrics, offering a way around the problem of induction that also justifies the assumption of a data-generating mechanism , and of ways to model this. They go on to explain how current critiques of the methodological foundations of structural econometrics are direct consequences of implicitly accepted but seriously flawed elements in neo-classical thinking. In the final part they present their distinctive methodological contribution; a blend of fieldwork and conceptual analysis designed to ensure that their models are well grounded in reality and at the same time, conceptually coherent as well as statistically adequate. In so doing, they also outline a number of elements that will be needed to develop a good macro-econometric model of an advanced economy. Rational Econometric Man will prove a stimulating and thought-provoking read for scholars and researchers in the field of economics, and, more specifically, heterodox economics. Seller Inventory # AAJ9781849801546

More information about this seller | Contact this seller

Buy New
US$ 181.54
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

7.

Edward J. Nell, Karim Errouaki
Published by Edward Elgar Publishing Ltd, United Kingdom (2014)
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Hardcover Quantity Available: 10
Seller:
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description Edward Elgar Publishing Ltd, United Kingdom, 2014. Hardback. Condition: New. Language: English . Brand New Book. This challenging and original book takes a fresh, innovative look at econometrics, and re-examines the scientific standing of structural econometrics as developed by the founders (Frisch and Tinbergen) and extended by Haavelmo and the Cowles modellers (particularly Klein) during the period 1930 - 1960. The authors begin by rethinking the scientific foundations of structural econometrics, offering a way around the problem of induction that also justifies the assumption of a data-generating mechanism , and of ways to model this. They go on to explain how current critiques of the methodological foundations of structural econometrics are direct consequences of implicitly accepted but seriously flawed elements in neo-classical thinking. In the final part they present their distinctive methodological contribution; a blend of fieldwork and conceptual analysis designed to ensure that their models are well grounded in reality and at the same time, conceptually coherent as well as statistically adequate. In so doing, they also outline a number of elements that will be needed to develop a good macro-econometric model of an advanced economy. Rational Econometric Man will prove a stimulating and thought-provoking read for scholars and researchers in the field of economics, and, more specifically, heterodox economics. Seller Inventory # AAJ9781849801546

More information about this seller | Contact this seller

Buy New
US$ 187.43
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

8.

Nell, Edward J./ Errouaki, Karim
Published by Edward Elgar Pub (2013)
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Quantity Available: > 20
Seller:
Paperbackshop-US
(Wood Dale, IL, U.S.A.)
Rating
[?]

Book Description Edward Elgar Pub, 2013. HRD. Condition: New. New Book. Shipped from US within 10 to 14 business days. Established seller since 2000. Seller Inventory # T5-9781849801546

More information about this seller | Contact this seller

Buy New
US$ 197.81
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

9.

Nell, Edward J.; Errouaki, Karim
Published by Edward Elgar Pub
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Hardcover Quantity Available: 1
Seller:
Cloud 9 Books
(Wellington, FL, U.S.A.)
Rating
[?]

Book Description Edward Elgar Pub. Hardcover. Condition: New. 1849801541 New Condition. Seller Inventory # NEW7.1699320

More information about this seller | Contact this seller

Buy New
US$ 208.50
Convert Currency

Add to Basket

Shipping: US$ 4.99
Within U.S.A.
Destination, Rates & Speeds

10.

Nell Edward J.
Published by Edward Elgar Publishing Limited
ISBN 10: 1849801541 ISBN 13: 9781849801546
New Quantity Available: 3
Seller:
Majestic Books
(London, ,, United Kingdom)
Rating
[?]

Book Description Edward Elgar Publishing Limited. Condition: New. pp. 392. Seller Inventory # 5624063

More information about this seller | Contact this seller

Buy New
US$ 207.26
Convert Currency

Add to Basket

Shipping: US$ 7.67
From United Kingdom to U.S.A.
Destination, Rates & Speeds

There are more copies of this book

View all search results for this book