The Practice of Econometric Theory An Examination of the Characteristics of Econometric Computation by Charles G. Renfro pdf download

0
15

The Practice of Econometric Theory An Examination of the Characteristics of Econometric Computation by Charles G. Renfro pdf download

The Practice of Econometric Theory An Examination of the Characteristics of Econometric Computation by Charles G. Renfro pdf download

Econometric theory, as presented in textbooks and the econometric literature generally, is a somewhat disparate collection of findings, rather than the well integrated organized whole it might seem at first sight. Its essential nature is to be a set of demonstrated results that increase over time, each logically based upon a specific set of axioms or assumptions, but rather than becoming collectively complete, these inevitably remain a fragmentary body of knowledge. The practice of econometric theory consists of selecting from and applying this literature, as well as simultaneously evaluating it, so as to test its applicability and range, and support its further advance. Today this practice is closely associated with the creation, development, and use of computer software and “econometric software” is the operational expression for this theory. Originally, the development of this software focused on the implementation of a progressively enlarging set of estimators, but now its best expression involves the attempt to provide not only the means to estimate parameters in different ways but also to test each of the underlying assumptions in the most meaningful way. The argument that might be made to buttress these assertions begins from the observation that the range of estimators that have been discovered by econometricians is reasonably extensive and that some of these are particular to a specific context. However, the most generally applied estimator is Ordinary Least Squares and, except in those situations where there is a priori knowledge of its unsuitability, its role is to be the starting point. To the extent that, either in practice or in principle, OLS plays this role, the consequence is then to give a particular importance to the set of supplementary evaluative tests that are applied in conjunction with it. Following from these considerations, this monograph presents, classifies, and documents the particular diagnostic tests associated with Ordinary Least Squares regression that are provided by the existing econometric software packages, with the goal of supplying reliable and useful information to three categories of people: econometric software developers, econometric theorists, and more generally those economists who use this software. Towards this end, it attempts to both discover and evaluate the present state of the art. The research behind it has been undertaken in the form of an interactive survey, conducted not as an external examination but instead with the active assistance and collaboration of the econometricians who have created, designed and developed these packages.

The Practice of Econometric Theory An Examination of the Characteristics of Econometric Computation by Charles G. Renfro pdf download

 

Please make a comment if the link is not working for you.
I appreciate your valuable comments and suggestions. For more books please visit or site.

Previous articleEngineering for Business Theory and Cases by Colin O. Benjamin pdf free download
Next articleHandbook of Multimedia for Digital Entertainment and Arts by Borko Furht pdf free download