Template-Type: ReDIF-Article 1.0
Author-Name:  Asad Zaman
Author-Email: asadzaman@alum.mit.edu
Author-Workplace-Name: International Institute of Islamic Economic, International Islamic University of Islamabad, Pakistan.
Title:  Methodological Mistakes and Econometric Consequences
Abstract: Econometric Methodology is based on logical positivist principles. Since logical positivism has collapsed, it is necessary to re-think these foundations. We show that positivist methodology has led econometricians to a meaningless search for patterns in the data. An alternative methodology which relates observed patterns to real causal structures is proposed.
Classification-JEL: C18, B40
Keywords: Econometric Methodology, logical positivism, realism, causality, VAR models, Forecasting, surprise, goodness of fit.
Journal: International Econometric Review
Pages: 99-122
Volume: 4
Issue: 2
Year: 2012
Month: September
File-URL: http://www.era.org.tr/makaleler/28070080.pdf
File-Format: Application/pdf
Handle: RePEc:erh:journl:v:4:y:2012:i:2:p:99-122