| Author: | Hayo, B. |
| Title: | Simplicity in econometric modelling: some methodological considerations |
| Journal: | Journal of Economic Methodology
1998 : DEC, VOL. 5:2, p. 247-262 |
| Index terms: | METHODOLOGY ECONOMETRICS MODELS |
| Language: | eng |
| Abstract: | It is shown how simplicity in econometric modelling can be defended from three different methodological positions, a "traditional scientific", a rhetorical and a hermeneutical one. Moreover, it is argued that the claim of methodological superiority by supporters of general-to-specific modelling is largely rhetoric. In practice there does not exist a viable alternative to simple modelling in empirical economics. |
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